Here are the 10-Q quarterly reports from Patria Latin American Opportunity Acquisition Corp. Unit (PLAOU) 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 PLAOU 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 PLAOU filings page.
Patria Latin American Opportunity Acquisition Corp. (PLAOU) filed its Form 10-Q for the quarter ended 31 March 2025. The Special Purpose Acquisition Company (SPAC) remains a shell company, classified as a non-accelerated, smaller-reporting, emerging-growth filer.
Nasdaq delisting. On 10 March 2025 Nasdaq notified PLAOU of non-compliance with listing rules; suspension and delisting of the Company’s shares, warrants and units became effective 17 March 2025. A Form 25-NSE covering units and warrants was filed 11 April 2025.
Balance sheet. Total assets were $54.85 million, little changed from $54.14 million at 31 December 2024. Cash increased to $44 thousand from $2 thousand, while marketable securities held in the trust account rose to $54.74 million. Current liabilities jumped 19% to $30.76 million, driven primarily by a $4.60 million increase in warrant liabilities to $20.98 million and higher related-party debt (promissory note up to $1.33 million). Shareholders’ deficit deepened to $(30.65) million from $(25.67) million.
Results of operations. For the three months ended 31 March 2025, the Company recorded a net loss of $(4.32) million versus net income of $1.42 million in the prior-year period. Key drivers were:
- General & administrative expense of $253 thousand, roughly flat year-over-year.
- Unfavorable change in fair value of warrant liabilities of $(4.60) million versus $(0.78) million last year.
- Realized trust investment gains fell to $0.55 million from $2.44 million.
- $14.9 thousand of related-party promissory note interest expense (none a year ago).
Capital structure & redemptions. Only 4.54 million Class A shares remain outstanding (all subject to redemption) compared with 16.88 million average shares last year, reflecting significant redemptions. Trust value per redeemable share increased to $12.05 from $11.90.
Liquidity & going-forward considerations. With $44 thousand of unrestricted cash, continued operating cash needs rely on related-party financing. Rising warrant liabilities plus the Nasdaq delisting heighten execution and liquidity risk as the SPAC searches for a business combination.