Welcome to our dedicated page for PROEM ACQUISITION I SEC filings (Ticker: PAAC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Polar Asset Management Partners Inc. reported beneficial ownership of 1,200,000 Class A ordinary shares of Proem Acquisition Corp I, representing 6.5% of the class. The filing states these shares are held through Polar's advisory relationship with Polar Multi-Strategy Master Fund and that the Reporting Person "may be deemed to beneficially own" shares convertible from units.
Proem Acquisition Corp I filed its quarterly report for the three months ended March 31, 2026, its first quarter after completing its SPAC IPO. The company reported net income of $439,599, driven by $546,763 of interest on investments in its trust account, partially offset by $228,464 of general and administrative expenses.
Following the February 13, 2026 IPO of 13,000,000 units, Proem placed $130,000,000 into a Trust Account, which had a balance of $130,546,763 as of March 31, 2026, invested in U.S. Treasury-focused money market funds. Cash outside the trust was $744,218, with working capital of $962,523.
As a blank check company, Proem has not begun operating a business and is seeking a Business Combination within 24 months of the IPO closing. Management discloses that projected liquidity and the possibility of dissolution raise substantial doubt about the company’s ability to continue as a going concern if a transaction is not completed within this window.
Proem Acquisition Corp I ownership filing: Aristeia Capital, L.L.C. reports beneficial ownership of 1,040,000 Units, representing 5.66% of the class. The filing states the percentage is calculated using 18,373,333 shares outstanding as of March 25, 2026.
The Units consist of one ordinary share and one-half of one redeemable warrant (CUSIP G7341A129). The filing shows Aristeia has sole voting and dispositive power over the 1,040,000 Units. The signature block names Andrew B. David as COO of Aristeia Capital, L.L.C.
ProEm Acquisition Corp. I shareholders filing: magnetar-affiliated entities and David J. Snyderman report shared beneficial ownership of 1,000,000 Class A ordinary shares as of March 31, 2026, representing approximately 5.44% of outstanding shares. The filing attributes holdings to multiple Magnetar funds with detailed per‑fund allocations and shows 18,373,333 shares outstanding per the issuer's Form 10-K.
Proem Acquisition Corp I is allowing holders of its units to begin separately trading the underlying ordinary shares and warrants, starting on or about April 6, 2026. Each unit consists of one ordinary share and one-half of one redeemable warrant, and each whole warrant allows the purchase of one ordinary share at $11.50 per share, subject to adjustment.
Units will continue to trade on Nasdaq under the symbol PAACU, while separated ordinary shares and warrants will trade under PAAC and PAACW, respectively. Holders must have their brokers contact Continental Stock Transfer & Trust Company to complete the separation.