MMCAP International Inc. SPC and MM Asset Management Inc. report beneficial ownership of QDRO Acquisition Corp. Class A Ordinary Shares in an amendment to their Schedule 13G.
They collectively beneficially own 1,500,000 Class A Ordinary Shares, representing 7.5% of the class, based on 20,000,000 outstanding shares. They report shared voting and dispositive power over 1,500,000 shares and no sole voting or dispositive power.
QDRO Acquisition Corp., a Cayman Islands SPAC, completed its IPO on March 30, 2026, selling 20,000,000 units at $10.00 each and placing $200,000,000 into a Trust Account. As of June 30, 2026, the Trust Account balance, including interest, was $201,809,797, or about $10.09 per Class A share subject to redemption.
For the quarter ended June 30, 2026, the company reported net income of $1,090,655, driven by $1,790,265 of interest on Trust investments, partially offset by $699,610 of general and administrative costs. For the six months, net income was $944,970. The SPAC has $377,377 of cash outside the Trust and a working capital surplus of $465,913, and has not yet identified a Business Combination target.
Management discloses that the company expects to continue incurring significant costs while seeking a deal and that failure to complete a Business Combination within the 18‑month “Completion Window” would trigger liquidation of the Trust, returning cash to public shareholders. Due to limited liquidity outside the Trust and the finite completion period, the company states that there is substantial doubt about its ability to continue as a going concern, although it plans to consummate a Business Combination before the deadline.