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Market Technology Acquisition Corp (MTAKU), a Cayman Islands SPAC formed on April 10, 2026 to complete a Business Combination, reported its first results as a public filer with no operating revenues and a net loss of $53,197 for the period from inception through June 30, 2026, driven by formation, general and administrative costs.
Before its IPO, the company had total assets of $210,720, all in prepaid expenses and deferred offering costs, against current liabilities of $238,917, resulting in a working capital deficit. Subsequent to quarter-end, it completed an Initial Public Offering of 20,500,000 units at $10.00 each, raising gross proceeds of $205,000,000, and a concurrent Private Placement of 712,500 units for $7,125,000. An aggregate of $206,025,000 was deposited into a Trust Account at $10.05 per public unit to fund a future acquisition.
As of July 27, 2026, after the IPO and Private Placement, the company reported cash of $1,410,876 and working capital of $1,284,821 outside the Trust Account, and management concluded it has sufficient liquidity for at least one year. The SPAC has until April 27, 2028 to complete a Business Combination, with public shareholders granted redemption rights from the Trust Account in connection with a deal, any approved extension, or liquidation.
Market Technology Acquisition Sponsor LLC and Jonathan David Slone report beneficial ownership of 7,285,833 Ordinary Shares of Market Technology Acquisition Corp, representing 25.9% of the 28,045,833 Ordinary Shares outstanding as of July 27, 2026. The stake consists of 452,500 Class A Ordinary Shares held through private placement units and 6,833,333 Class B Founder Shares that are automatically convertible into Class A Ordinary Shares on a one-for-one basis in connection with the initial business combination.
The aggregate purchase price for these securities was $4,550,000, funded from the Sponsor’s working capital, including 7,666,667 Founder Shares originally bought for $25,000 and 452,500 placement units at $10.00 per unit. Each placement unit includes one Class A Ordinary Share and one-half of a redeemable warrant, with each whole warrant exercisable into one Class A Ordinary Share at an exercise price of $11.50 after the business combination.
The Sponsor and Mr. Slone have agreed to vote their Founder Shares, shares underlying the placement units, and any public shares they hold in favor of an initial business combination and not to redeem such shares in related shareholder votes. Their securities are subject to lock-up restrictions and are excluded from liquidating distributions if no business combination occurs, while the Sponsor has indemnity obligations designed to protect at least $10.05 per public share in the SPAC trust account.
Market Technology Acquisition Corp (symbol MTAKU) completed its SPAC initial public offering on July 27, 2026, issuing 20,500,000 Units (including 500,000 from the underwriters’ over-allotment) at $10.00 per Unit for gross proceeds of $205,000,000. Each Unit contains one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share.
Concurrently, the company sold 712,500 Private Placement Units to its sponsor and BTIG for $7,125,000. A total of $206,025,000, equal to $10.05 per redeemable public Class A share, was deposited into a U.S.-based Trust Account. Transaction costs were $11,883,757, including $7,175,000 of deferred underwriting fees payable upon completion of a future business combination.
The company is a Cayman Islands blank check company formed to pursue a business combination, with an initial focus on U.S. equities and options clearing infrastructure. It has up to 21 months from the IPO closing to complete an initial business combination, after which it will redeem public shares for the cash held in the Trust Account, subject to applicable deductions and creditor claims. As of July 27, 2026, cash outside the Trust Account was $1,410,876, and management believes available funds are sufficient for at least one year of operating needs.