Meridian3 Industrials Acquisition Corp reported net income of $1,500,310 for the three months ended September 30, 2026, as $1,738,936 of Trust Account interest and dividends exceeded $246,656 of formation, general and administrative costs. The Trust Account held $202,988,936, while cash and cash equivalents were $1,051,153 and working capital was $1,072,277.
The company completed its initial public offering on July 6, 2026, selling 20,125,000 units at $10.00 each for gross proceeds of $201,250,000; $201,250,000 was placed in the Trust Account. As of September 30, 2026, it had not begun operations or generated operating revenue. It is seeking a business combination and expects to target industrial technology, including Industry 4.0, smart manufacturing and next-generation mobility.
Public shareholders may redeem shares in connection with a business combination. If one is not completed within 24 months of the IPO closing, the company must redeem public shares as promptly as reasonably possible, but no more than ten business days thereafter, subject to the stated terms. Warrants have no redemption or liquidation distributions if no combination is completed and expire worthless.
Meridian3 Industrials Acquisition Corp (MIAC) is the issuer in a beneficial-ownership report listing Class B ordinary shares held by related reporting persons. Meridian3 Partners Sponsor LLC was the record holder of 2,450,000 shares and reported 18.5% beneficial ownership. Meridian3 Capital SPC - Meridian3 Industrials Acquisition was the record holder of 793,750 shares and reported beneficial ownership of 3,243,750 shares, or 23.1%, including the sponsor-held shares.
F. Jeremey Mistry and David Bulley each reported beneficial ownership of 3,268,750 shares, or 23.3%, including their respective 25,000 individual shares and shares held by the entities they jointly control. The reported percentages use 10,788,371 Class A ordinary shares outstanding as of September 30, 2026, plus the relevant reporting person's convertible Class B shares.