Here are the 10-Q quarterly reports from Newbury Street II Acquisition Corp Warrant (NTWOW) 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 NTWOW 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 NTWOW filings page.
Newbury Street II Acquisition Corp (NTWO) entered an agreement for a proposed combination with Fort Robotics, Inc. (FORT), under which FORT would become a wholly owned subsidiary after closing. The agreement provides for $500 million of stock consideration, valued at $10.00 per share, plus shares for permitted SAFE conversions. The proposed financing includes an initial $31.25 million PIPE, conditioned on concurrent closing, and an October PIPE for $10 million, subject to closing conditions.
At the October 28, 2026 shareholder meeting, shareholders extended the combination deadline to February 4, 2027. Holders redeemed 14,203,466 Public Shares for approximately $154.3 million at approximately $10.85 per share, leaving 3,046,534 Public Shares outstanding.
Third-quarter net income was $889,677, versus $1,732,107 a year earlier; nine-month net income was $2,587,226 versus $5,102,832. Third-quarter results included $1,691,056 of Trust Account interest and $803,990 of general and administrative costs. As of September 30, 2026, Trust Account assets were $186,761,164 and working capital was a deficit of $(1,577,601).
Newbury Street II Acquisition Corp, a Cayman Islands SPAC, reported total assets of $185.6 million as of June 30, 2026, including $185.1 million in a Trust Account invested in Treasury-focused money market funds. Current assets outside the Trust totaled $0.5 million, against current liabilities of $1.3 million, resulting in a working capital deficit of $(776,222) and an accumulated deficit of $(6.8 million).
For the six months ended June 30, 2026, the company recorded net income of $1.7 million, driven by $3.2 million of interest on Trust investments, partly offset by $1.5 million in general and administrative costs, mainly legal expenses. Management states it has not yet entered into a definitive agreement for a business combination and will generate no operating revenue until one is completed. The charter provides until November 4, 2026 to consummate an initial business combination, after which the SPAC must liquidate and redeem public shares. Management concludes that the working capital deficit and mandatory liquidation deadline raise substantial doubt about the company’s ability to continue as a going concern.