Here are the 10-Q quarterly reports from Cayson Acquisition Corp (CAPN) in our archive since June 2025, 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 CAPN 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 CAPN filings page.
Cayson Acquisition Corp, a Cayman Islands SPAC, reported unaudited results for the quarter and six months ended June 30, 2026. Net income was $137,610 for the quarter and $390,010 year-to-date, driven by $880,294 of interest on trust investments, partially offset by $491,599 of formation and operating costs. Cash and investments in the trust account totaled $38,331,573, down from $64,487,925 at December 31, 2025, after redemptions and extension-related deposits. As of August 7, 2026, 5,288,092 ordinary shares were outstanding.
During a March 2026 shareholder meeting, holders of 2,541,908 public shares redeemed at approximately $10.83 per share, removing about $27,536,646 from the trust and leaving 3,458,092 public shares subject to redemption. Mango Financial has loaned the company extension funds under non-interest-bearing promissory notes totaling $1,400,000 outstanding, enabling monthly extensions of the business-combination deadline in $125,000 increments, currently to August 23, 2026.
Management continues to pursue a proposed merger under the amended Merger Agreement with Mango Financial Group Limited and related entities, which would make Cayson a wholly owned subsidiary of Mango Group. However, with only $54,485 of cash outside the trust, a working capital deficit of $1,719,032, and a limited combination period, management disclosed substantial doubt about the ability to continue as a going concern. The company also reported material weaknesses in internal control, including lack of segregation of duties and insufficient written policies.
Cayson Acquisition Corp. reported net income of $252,400 for the quarter ended March 31, 2026, driven mainly by interest on its trust investments.
Following redemptions of 2,541,908 public shares for about $27.5 million, cash and investments in the trust account declined to $37,622,133, and 3,458,092 ordinary shares remain subject to possible redemption. Cash outside the trust was only $64,433 with a working capital deficit of $1,351,907.
The company has a pending business combination with Mango Financial Group and has extended its merger deadline through loans totaling $1,025,000 from Mango Financial. Management states that these conditions raise substantial doubt about Cayson’s ability to continue as a going concern if a deal is not completed within the allowed combination period.