Welcome to our dedicated page for American Drive SEC filings (Ticker: ADAC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
American Drive Acquisition Company filings document a SPAC issuer's material events, security structure and governance framework. Its regulatory disclosures cover capital-structure matters tied to Class A ordinary shares, units and redeemable public warrants, as well as material agreements and shareholder-voting matters associated with a blank-check company formed to pursue a business combination.
The filing record also includes formal updates on operating and financial results, governance matters and SPAC-specific disclosure topics that define the issuer before any completed business combination.
American Drive Acquisition Company reported net income of $970,782 for the quarter ended March 31, 2026, driven by $2,024,440 of interest on funds held in its SPAC trust. General and administrative costs were $1,053,658, reflecting ongoing public-company and deal-search expenses.
The company held $232,253,661 of marketable securities in its Trust Account and cash of $994,167 outside the trust, with a working capital surplus of $205,742. Management discloses substantial doubt about the company’s ability to continue as a going concern if it cannot complete a business combination by December 19, 2027, the end of its completion window.
American Drive Acquisition Company is a Cayman Islands blank check company formed to complete a merger or similar business combination, focusing on U.S. defense, logistics, transportation, technology and AI sectors. It completed an IPO of 23,000,000 units at $10.00 each, raising $230,000,000.
Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant exercisable at $11.50 per share. IPO proceeds, plus private placement warrant proceeds, funded a $230,000,000 trust account to be used for a future acquisition or returned to public shareholders at about $10.00 per share if no deal closes by December 19, 2027.
As of March 27, 2026, 23,000,000 Class A and 5,750,000 Class B ordinary shares were outstanding. The company qualifies as an emerging growth and smaller reporting company and outlines detailed shareholder redemption mechanics, sponsor protections, and SPAC-specific governance, including Class B control over director elections before a business combination.
Petit Monts LLC has filed a Schedule 13G reporting beneficial ownership of 8,316,667 Class A ordinary shares of American Drive Acquisition Company. This represents 25.39% of the Class A shares, based on the company’s outstanding and issuable share figures.
The position reflects shares acquirable through a combination of Class B ordinary shares and private placement warrants with a strike price of $11.50 per share. Petit Monts LLC reports sole voting and dispositive power over these securities, while a board of managers controls the sponsor by majority vote so no individual manager has sole control.
American Drive Acquisition Co received an amended Schedule 13G showing that MMCAP International Inc. SPC and Asset Management Inc. together beneficially own 1,000,000 Class A Ordinary Shares, representing 4.4% of the class. They report shared power to vote and dispose of all 1,000,000 shares and no sole voting or dispositive power. The filing states that the securities were not acquired and are not held for the purpose of changing or influencing control of the company, indicating a passive investment position as of the 12/31/2025 event date.
Adage Capital Management and its principals reported a 5.43% passive stake in American Drive Acquisition Co. They beneficially own 1,250,000 Class A ordinary shares, with shared voting and dispositive power and no sole authority over the stock.
The filing is on behalf of Adage Capital Management, L.P., and managing members Robert Atchinson and Phillip Gross, who report ownership through Adage Capital Partners, L.P. The percentage is based on 23,000,000 Class A shares outstanding after the company’s offering and full exercise of the underwriters’ over-allotment option.
Petit Monts LLC, a 10% owner of American Drive Acquisition Co, reported an insider sale of Class B ordinary shares. On February 6, 2026, it sold 25,000 Class B shares to Nitin Kumar for $108.70, or about $0.004 per share, in connection with his appointment to the board.
After this sale, Petit Monts LLC beneficially owns 5,650,000 Class B ordinary shares. These Class B shares have no expiration date and automatically convert into Class A ordinary shares on a one-for-one basis at the time of the company’s initial business combination, or earlier at the holder’s option.
American Drive Acquisition Co director Nitin Kumar disclosed his initial ownership of derivative securities linked to the company. He beneficially owns Class B ordinary shares that are directly held and are convertible into Class A ordinary shares.
The filing shows 25,000 Class A ordinary shares underlying these Class B ordinary shares. According to the terms, the Class B shares have no expiration date and will automatically convert to Class A shares at the time of the company’s initial business combination, or earlier at the holder’s option, on a one-for-one basis, subject to adjustment described in the company’s registration statement.
American Drive Acquisition Company reported two main developments. The board of directors increased its size from five to six members and appointed Nitin Kumar as a Class I director, to serve until the first annual shareholder meeting or until a successor is elected and qualified.
The company also announced that, beginning February 9, 2026, holders of its units may separately trade the Class A ordinary shares and redeemable warrants included in those units. Each unit consists of one Class A ordinary share and one-third of one warrant, with separated securities trading on Nasdaq under the symbols ADAC for the shares and ADACW for the warrants, while units continue under ADACU. Only whole warrants will trade.