# EDGAR Filing Document

**Accession Number:** 0002088807
**File Stem:** 0001213900-26-013277
**Filing Date:** 2026-2
**Character Count:** 16376
**Document Hash:** 68f7dc1a9ac81e17248eedc4d6365ef1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-013277.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0001213900-26-013277

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260202

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Xsolla SPAC 1
- **CENTRAL INDEX KEY:** 0002088807
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43066
- **FILM NUMBER:** 26607719

**BUSINESS ADDRESS:**
- **STREET 1:** 15260 VENTURA BOULEVARD, SUITE 2230
- **CITY:** SHERMAN OAKS
- **STATE:** CA
- **ZIP:** 91403
- **BUSINESS PHONE:** 877-987-9233

**MAIL ADDRESS:**
- **STREET 1:** 15260 VENTURA BOULEVARD, SUITE 2230
- **CITY:** SHERMAN OAKS
- **STATE:** CA
- **ZIP:** 91403

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**February 2, 2026**

Date of Report (Date of earliest event reported)

**<u>Xsolla SPAC 1</u>**

(Exact name of Registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-43066** | **N/A** |
| (State or other jurisdiction <br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification Number) |

---

---

| | |
|:---|:---|
| **15260 Ventura Boulevard, Suite 2230<br> Sherman Oaks, CA** | **91403** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(877) 987-9233**

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemable warrant | XSLLU | The Nasdaq Stock Market LLC |
| Class A ordinary shares, par value $0.0001 per share | XSLL | The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share | XSLLW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 8.01. Other Events.**

As previously disclosed, on January 30, 2026, Xsolla SPAC 1 (the "Company") consummated its initial public offering ("IPO"), which consisted of 20,000,000 units (the "Units"). Each Unit consists of one Class A ordinary share, $0.0001 par value ("Class A Ordinary Share") and one-half of one redeemable warrant of the Company (each, a "Warrant"), with each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share (subject to adjustment). The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $200,000,000.

As previously disclosed, simultaneously with the closing of the IPO, the Company consummated a private placement (the "Private Placement") of an aggregate of 400,000 units (the "Private Units") to Xsolla SPAC I LLC, at a price of $10.00 per Private Unit, generating total proceeds of $4,000,000. Each Private Unit consists of one Class A Ordinary Share and one-half of one redeemable Warrant, with each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share for $11.50 per share (subject to adjustment).

As previously disclosed, subsequently, on January 30, 2026, the Underwriter partially exercised the Over-Allotment Option for 419,385 Units. The closing of the issuance and sale of the additional Units (the "Over-Allotment Option Units") occurred on February 2, 2026. The total aggregate issuance by the Company of 419,385 Over-Allotment Option Units at a price of $10.00 per unit generated total gross proceeds of $4,193,850. On February 2, 2026, simultaneously with the sale of the Over-Allotment Option Units, the Company consummated the private sale of an additional 3,146 Private Units to the Sponsor generating gross proceeds of $31,460.

On February 2, 2026 an additional $4,193,850 consisting of the net proceeds from the sale of the Over-Allotment Option Units and the additional Private Units was placed in the trust account established for the benefit of the Company's public shareholders, resulting in a total of $204,193,850 held in the trust account.

An unaudited pro forma balance sheet reflecting receipt of the proceeds from the sale of the Over-Allotment Option Units is included as Exhibit 99.1 to this Current Report on Form 8-K.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

<u>Exhibit No.</u> <u>Description</u> <br> 99.1 [Pro Forma Balance Sheet](ea027597401ex99-1_xsolla1.htm) <br> 104 The Cover Page Interactive Data File (embedded within the Inline XBRL document)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Dated: February 6, 2026 |  |  |
|  | Xsolla SPAC 1 | Xsolla SPAC 1 |
|  | By: | */s/* Dmitry Burkovskiy |
|  | Name: | Dmitry Burkovskiy |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**XSOLLA SPAC 1**

**PRO FORMA UNAUDITED BALANCE SHEET**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **January 30, 2026** | **Pro Forma Adjustments (Unaudited)** |  | **As Adjusted (Unaudited)** |
| **Assets:** | | |  | |
| **Current asset** | | |  | |
| &nbsp;&nbsp;&nbsp;Cash | $1874477 | 6 | (4) | $1874483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current asset** | **1874477** | **6** |  | **1874483** |
| Cash held in Trust Account | 200000000 | 4193850 | (1) | 204193850 |
|  |  | 31460 | (2) |  |
|  |  | (31454) | (3) |  |
|  |  | (6) | (4) |  |
| **Total Assets** | $**201874477** | **4193856** |  | $**206068333** |
| **Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders' Equity:** |  |  |  |  |
| Current liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued offering costs | $75000 |  |  | $75000 |
| &nbsp;&nbsp;&nbsp;Over-allotment option liability | 186700 | (26100) | (5) | 160600 |
| &nbsp;&nbsp;&nbsp;Promissory note – related party | 53642 |  |  | 53642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | **315342** | **(26100)** |  | **289242** |
| **Total Liabilities** | **315342** | **(26100)** |  | **289242** |
| **Commitments and Contingencies (Note 6)** |  |  |  |  |
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 20,419,385 shares at redemption value of $10.00 per share | 200000000 | 4122555 | (1) | 204193850 |
|  |  | (31115) | (3) |  |
|  |  | 26100 | (5) |  |
|  |  | (10114) | (6) |  |
|  |  | 86424 | (7) |  |
|  |  | 4193850 |  |  |
| **Shareholders' Equity** |  |  |  |  |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; no shares issued or outstanding |  |  |  |  |
| Class A ordinary shares, $0.0001 par value; 475,000,000 shares authorized; 454,194 shares issued and outstanding (excluding 20,419,385 shares subject to possible redemption) | 45 |  | (2) | 45 |
|  |  |  | (6) |  |
| Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 7,666,667 shares issued and outstanding <sup>(1)(2)(3)</sup> | 767 |  |  | 767 |
| Additional paid-in capital | 1696603 | 71295 | (1) |  |
|  |  | 31460 | (2) |  |
|  |  | (339) | (3) |  |
|  |  | (188) | (6) |  |
|  |  | 10302 | (6) |  |
|  |  | (86424) | (7) | 1722709 |
| Accumulated deficit | (138280) |  |  | (138280) |
| **Total Shareholders' Equity** | **1559535** | **26106** |  | **1585241** |
| **Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders' Equity** | $**201874477** | 4193856 |  | $**206068333** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes an aggregate of up to 1,000,000 Class B ordinary shares which will be surrendered to the Company for no consideration if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).

(2) On January 28, 2026, the Sponsor surrendered 1,916,666 Founder Shares to the Company for no consideration, resulting in the Sponsor holding an aggregate of 7,666,667 Founder Shares. All shares and per share amounts have been retroactively presented.

(3) As a result of the partial exercise by the underwriters of the over-allotment option on February 2, 2026, 139,795 Founder Shares are no longer subject to forfeiture.

See Note to Pro forma Unaudited Balance Sheet.

**XSOLLA SPAC 1**

**NOTES TO PRO FORMA UNAUDITED BALANCE SHEET** 

**NOTE 1 - CLOSING OF OVER-ALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT**

The accompanying unaudited Pro forma Balance Sheet presents the Balance Sheet of Xsolla SPAC 1 (the "Company") as of January 30, 2026 adjusted for the closing of the partial exercise of the underwriters' overallotment option and related transactions, which occurred on February 2, 2026, as described below.

The registration statement for the Company's Initial Public Offering was declared effective on January 28, 2026. On January 30, 2026, the Company consummated the Initial Public Offering of 20,000,000 units (the "Units"), at $10.00 per Unit, generating gross proceeds of $200,000,000. Each Unit consists of one Class A ordinary share (each, a "Public Share") and one-half of one redeemable warrant (each, a "Public Warrant"). Each whole Public Warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in the Company's prospectus.

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 400,000 private placement units (the "Private Placement Units") at a price of $10.00 per Private Placement Unit, in a private placement to the Company's sponsor, Xsolla SPAC I LLC (the "Sponsor"), generating gross proceeds of $4,000,000. Each Private Placement Unit consists of one Class A ordinary share and one-half of one warrant ("Private Placement Warrant). Each Private Placement Warrant entitles the holder thereof to purchase one whole Class A ordinary share at a price of $11.50 per share, subject to adjustment, terms and limitations as described in the Company's prospectus. The Private Placement Units are identical to the Units sold in the Initial Public Offering, subject to certain limited exceptions as described in the Company's prospectus. The Private Placement Warrants included within the Private Placements Units are identical to the Public Warrants comprising part of the Units sold in the Initial Public Offering.

The Company granted the underwriters a 45-day option from the date of the Initial Public Offering to purchase up to 3,000,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions.

On February 2, 2026, the Company consummated the closing of an additional 419,385 Units sold pursuant to the underwriters' partial exercise of their over-allotment option, generating gross proceeds of $4,193,850. Simultaneously with the consummation of the partial exercise of over-allotment option on February 2, 2026, the Company also consummated the sale of an additional 3,146 Private Placement Units to the Sponsor at a price of $10.00 per Private Placement Unit, generating gross proceeds of $31,460. Following the sale of the additional Units, all of the net proceeds from the sale of additional Units and additional Private Placement Units totaling to $4,193,850 have been added in the Trust Account. The underwriters were entitled to a cash underwriting discount of $0.075 per additional Unit or $31,454 in aggregate, paid on February 2, 2026 and the $6 has been transferred to the Company's bank operating account. As a result of the partial exercise by the underwriters of the over-allotment option, 139,795 Founder Shares are no longer subject to forfeiture and the Company agreed to issue additional 1,048 Representative Shares to the representative of underwriters. The underwriters have 45 days from the date of the Initial Public Offering to purchase the remaining 2,580,615 Units.

As of February 2, 2026, a total of $204,193,850 of the net proceeds from the Initial Public Offering (including the additional Units sold as the result of the partial exercise by the underwriters of their over-allotment option) and the sale of the Private Placement Units were placed in the Trust Account.

Pro forma adjustments to reflect the partial exercise of the underwriters' over-allotment option and sale of the additional Private Placement Units are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Pro forma entries** |  |  |
| 1 | Cash held in Trust Account | 4193850 |  |
|  | &nbsp;&nbsp;&nbsp;Class A ordinary shares subject to possible redemption |  | 4122555 |
|  | &nbsp;&nbsp;&nbsp;Additional paid-in capital |  | 71295 |
|  | *To record sale of 419,385 over-allotment Units at $10.00 per Unit.* |  |  |
| 2 | Cash held in Trust Account | 31460 |  |
|  | &nbsp;&nbsp;&nbsp;Class A ordinary shares |  |  |
|  | &nbsp;&nbsp;&nbsp;Additional paid-in capital |  | 31460 |
|  | *To record sale of 3,146 additional Private Placement Units to Sponsor at $10.00 per Private Placement Unit* |  |  |
| 3 | Class A ordinary shares subject to possible redemption | 31115 |  |
|  | Additional paid-in capital | 339 |  |
|  | &nbsp;&nbsp;&nbsp;Cash held in Trust Account |  | 31454 |
|  | *To record payment of $0.075 per over-allotment Unit of cash underwriting fee to underwriters* |  |  |
| 4 | Cash | 6 |  |
|  | &nbsp;&nbsp;&nbsp;Cash held in Trust Account |  | 6 |
|  | *To record net transfer of cash to avoid overfunding of Trust Account* |  |  |

---

**XSOLLA SPAC 1**

**NOTES TO PRO FORMA UNAUDITED BALANCE SHEET** 

**NOTE 1 - CLOSING OF OVER-ALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT** (cont.)

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| | | | |
|:---|:---|:---|:---|
|  | **Pro forma entries (cont.)** |  |  |
| 5.0 | Over-allotment option liability | 26100.0 |  |
|  | &nbsp;&nbsp;&nbsp;Class A ordinary shares subject to possible redemption |  | 26100 |
|  | *To release the value of 419,385 over-allotment option liability due to the partial exercise of the underwriters of their over-allotment option* |  |  |
| 6.0 | Class A ordinary shares subject to possible redemption | 10114.0 |  |
|  | Additional paid-in capital | 188.0 |  |
|  | &nbsp;&nbsp;&nbsp;Class A ordinary shares |  |  |
|  | &nbsp;&nbsp;&nbsp;Additional paid-in capital |  | 10302 |
|  | *To record the fair value of 1,048 additional Representative Shares issued to the representative of the underwriters* |  |  |
| 7.0 | Additional paid-in capital | 86424.0 |  |
|  | &nbsp;&nbsp;&nbsp;Class A ordinary shares subject to possible redemption |  | 86424 |
|  | *To record accretion of Class A ordinary shares subject to redemption to an amount of $10.00 per share* |  |  |

---