Every 10-Q that Black Hawk Acquisition Corporation Units (BKHAU) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BKHAU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BKHAU filings page.
Black Hawk Acquisition Corp. (BKHA) reported net income of $1,074,736 for the three months ended August 31, 2026, including a $1,015,988 gain from Vesicor’s debt forgiveness. At August 31, 2026, it had $12,052 in cash, a $2,294,124 working-capital deficit and $25,993,300 in its trust account. Management said its liquidity and the risk of not completing a business combination within the permitted period raise substantial doubt about its ability to continue as a going concern. Nasdaq closed its listing-compliance matter after Black Hawk’s market value of listed securities was at least $50,000,000 for 10 consecutive business days.
The proposed merger values Vesicor at a $70 million pre-money equity value and remains subject to shareholder, regulatory and other closing conditions. A shareholder meeting is scheduled for October 13, 2026, and completion is expected by the fourth quarter of 2026. September agreements with Meteora include a forward transaction for up to 1,350,000 shares, subject to upward adjustment; a best-efforts non-redemption arrangement for up to 2,124,077 shares; and a standby facility allowing PubCo to sell up to $200.0 million of shares, subject to conditions and required registration effectiveness. Ordinary advances under the facility are generally priced at 97% of the applicable market price.
Black Hawk Acquisition Corporation, a SPAC, reported modest profitability for the quarter ended May 31, 2026, driven by interest on its trust investments. Net income was $88,929 for the quarter and $228,734 for the first six months, with $25.3 million held in the Trust Account and $11,583 of cash outside it.
The company has a working capital deficit of $2.69 million and management concluded that substantial doubt exists about its ability to continue as a going concern unless it completes a business combination within the extended period ending December 22, 2026. A Business Combination Agreement with Vesicor Therapeutics values Vesicor at $70 million, with all Vesicor equity rolling into the combined company, but closing remains uncertain.
Shareholders redeemed 4,775,923 public shares for about $51.0 million, leaving 2,124,077 public shares outstanding and approximately $22.7 million initially in trust, supplemented by later extension deposits. On March 31, 2026 Nasdaq notified Black Hawk that its market value of listed securities had fallen below the $50 million minimum, giving it until September 28, 2026 to regain compliance. After quarter-end, Vesicor forgave $1,015,988 of advances, reducing amounts due to the target.
Black Hawk Acquisition (Nasdaq: BKHAU) filed its Q2 10-Q for the period ended May 31 2025.
- Trust account assets rose to $73.36 M from $71.83 M at Nov 30 2024, driven by interest income.
- Operating cash declined to $72.9 K versus $264.8 K six months earlier, reflecting higher working-capital outflows.
- Current liabilities total $251 K, including a new $250 K payable to a target company; deferred underwriting fees remain $2.42 M.
- 6.9 M Class A shares classified as redeemable at an average $10.63 per share (up from $10.41).
- Shareholders’ deficit widened to $(2.53 M).
The SPAC remains a shell company with no operating revenues and continues to seek a business combination.