Company: SDHIU
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001213900-25-042070
Chunk: 36

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 36
---
 whether as a result of new information,
future events or otherwise.

Overview

We are a blank check company incorporated in the
Cayman Islands on July 5, 2024 formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase,
reorganization or similar business combination with one or more businesses We intend to effectuate our Business Combination using cash
derived from the proceeds of the Initial Public Offering and the sale of the Private Placement Units, our shares, debt or a combination
of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from July 5, 2024 (inception) through March 31, 2025 were organizational activities,
those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business Combination.
We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating
income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended March 31, 2025, we
had a net loss of $43,850, which consisted of general and administrative costs.

Liquidity and Capital Resources

Until the consummation of the Initial Public Offering,
our only source of liquidity was an initial purchase of shares of Class B ordinary shares, par value $0.0001 per share, by the Sponsor
and loans from the Sponsor, which were repaid subsequent to the closing of the Initial Public Offering.

Subsequent to the quarterly period covered by
this Quarterly Report, on April 2, 2025, we consummated the Initial Public Offering of 27,600,000 units at $10.00 per Units, which
includes the full exercise of the underwriter’s over-allotment option. Simultaneously with the closing of the Initial Public Offering,
we consummated the sale of an aggregate of 338,000 Private Placement Units to the Sponsor at a price of $10.00 per unit, generating gross
proceeds of $3,380,000