Plum Acquisition Corp. III reported a Q3 2025 net loss of $275,968, narrowing from the prior year. Results reflect minimal operating activity typical of a SPAC, with interest income of $6,868 and a $238,541 gain from warrant revaluation.
Redemptions continued to shrink the trust: investments held in the Trust Account were $490,623 at September 30, 2025, down from $25,630,285 at year‑end, tied to Class A shares subject to redemption declining to 42,486. Cash outside the trust was $107,345, warrant liabilities were $2,071,199, and promissory notes due to the sponsor totaled $2,024,867. The company reported a working capital deficit of $4,777,567 and disclosed substantial doubt about its ability to continue as a going concern.
The SPAC extended its deadline to complete a business combination to July 30, 2026 and continues to pursue its merger with Tactical Resources Corp., with amendments allowing a reverse split (up to 25‑for‑1), extending the agreement end date to July 30, 2026, and locking up 80%–85% of consideration shares for six months post‑close. Shares trade on OTC Pink Current; as of October 27, 2025, 907,486 Class A and 7,062,500 Class B shares were outstanding.