Company: MACIW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001410578-25-001763
Chunk: 11

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONSMelar Acquisition Corp. I (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on March 11, 2024. The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”).As of June 30, 2025, the Company had not commenced any operations. All activity for the period from March 11, 2024 (inception) through June 30, 2025 relates to the Company’s formation, its initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of dividends and interest income on marketable securities and cash held in the Trust Account (discussed below).The registration statement for the Company’s Initial Public Offering was declared effective on June 17, 2024. On June 20, 2024, the Company consummated the Initial Public Offering of 16,000,000 units (the “Units”), which includes the partial exercise by the underwriters of their over-allotment option in the amount of 1,000,000 Units (see Note 6), at $10.00 per Unit, generating gross proceeds of $160,000,000, which is discussed in Note 3. Each Unit consists of one Class A ordinary share and one-half of one redeemable warrant (the “Public Warrant”).Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 5,000,000 warrants (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant, in a private placement to Melar Acquisition Sponsor I LLC, the Company’s sponsor (the “Sponsor”), and Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC and Seaport Global Securities LLC, the representatives of the underwriters of the Initial Public Offering, generating gross proceeds of $5,000,000, which is described in Note 4 (the “Private Placement”).Transaction costs amounted to $10,184,856, consisting of $3,000,000