QuasarEdge Acquisition Corp. amended its merger agreement with Robseek Intelligence Inc., Robseek Limited, Meng Tang (solely as representative of Robseek Limited), Robseek Inc. (the Purchaser), and QRED Merger Sub Ltd. on October 6, 2026.
The amendment clarifies that each QRED right entitles its holder to receive one-fourth of one Purchaser ordinary share upon consummation of an initial business combination. It provides for a single class of Purchaser ordinary shares, with one vote per share, and an amended allocation schedule with an aggregate of 100,000,000 closing payment shares. Purchaser ordinary shares issued to the Company's shareholders in connection with the merger will generally remain transfer-restricted until the earlier of 180 days after closing and satisfaction of a specified $12.50 trading-price condition, which begins at least 90 days after closing.
QuasarEdge Acquisition Corp (symbol: QRED) is the issuer of record for a Form 8-K filing submitted to the SEC.
QuasarEdge Acquisition Corporation (QRED), a Cayman Islands blank check company, reported its first post-IPO quarter for the period ended July 31, 2026. It completed an IPO and over-allotment totaling $115.0 million of gross proceeds, placing $115.6 million into a Trust Account that grew to $116.8 million including interest. For the quarter, QuasarEdge generated net income of $581,631, driven by $1.0 million of interest on Trust investments, while formation and operating costs were $456,030.
On June 9, 2026, QuasarEdge signed a Merger Agreement to combine with Robseek Intelligence Inc. at a $1.0 billion agreed pre-money equity valuation, to be paid in 100,000,000 shares valued at $10.00 each, subject to customary closing conditions and effectiveness of a Form F-4 registration. Despite the large Trust balance, the company held only $242,332 of cash outside the Trust and disclosed substantial doubt about its ability to continue as a going concern if it fails to complete a business combination by July 16, 2027. Management also concluded its disclosure controls and procedures were ineffective, citing inadequate controls over identifying and timely disclosing commitments and contingencies.
Polar Asset Management Partners Inc., an investment manager registered with the Ontario Securities Commission, reported beneficial ownership of ordinary shares of QuasarEdge Acquisition Corp.
Polar Asset Management Partners Inc., as investment advisor to Polar Multi-Strategy Master Fund, reported beneficial ownership of 990,000 ordinary shares, representing 6.2% of this class. It reported sole voting power and sole dispositive power over all 990,000 shares, with no shared voting or dispositive power.
Highbridge Capital Management, LLC filed as an institutional investor reporting beneficial ownership of 1,089,300 Ordinary Shares of QuasarEdge Acquisition Corp, representing 6.8% of the class. Highbridge, a Delaware limited liability company and investment adviser to certain funds and accounts, reports sole voting and dispositive power over these shares, which are held by the Highbridge Funds. Based on 16,040,000 Ordinary Shares outstanding as of June 15, 2026, one fund, Highbridge Tactical Credit Master Fund, L.P., has the right to receive or direct the receipt of dividends or sale proceeds for more than 5% of the outstanding Ordinary Shares.
QuasarEdge Acquisition Corp received an amended Schedule 13G from Harraden Circle Investments, LLC and Frederick V. Fortmiller, Jr. reporting that they no longer beneficially own any Class A shares. After an internal reorganization effective June 30, 2026, the reporting persons’ beneficial ownership decreased to 0 shares, representing 0% of the Class A class.
The amendment classifies this as an exit filing for these reporting persons. They report no sole or shared voting power and no sole or shared dispositive power over any Class A shares. Certain Harraden-related funds continue to have rights to dividends or sale proceeds on securities previously reported for their accounts.
Decagon Asset Management LLP and Benjamin John Durham report beneficial ownership of QuasarEdge Acquisition Corp ordinary shares. They collectively hold 990,000 shares, representing 6.17% of the outstanding class.
Both Decagon and Durham have sole voting power and sole dispositive power over the same 990,000 shares, with no shared voting or dispositive power reported. The security class is ordinary shares with a par value of $0.0001 per share.
QuasarEdge Acquisition Corporation reported its first quarter as a public SPAC for the period ended April 30, 2026. The company posted net income of $79,108, driven by $151,407 of interest on investments in its trust account, partially offset by $72,299 of formation and operating costs.
Following its IPO and full over-allotment exercise, QuasarEdge placed $115,575,000 into a trust account, which had grown to $115,726,407 including interest as of April 30, 2026. Outside the trust, it held cash of $810,746 and working capital of $1,015,433.
Subsequent to quarter-end, QuasarEdge signed a Merger Agreement to combine with Robseek Intelligence Inc. at a pre-money equity valuation of $1,000,000,000, with Robseek shareholders slated to receive 100,000,000 shares valued at $10.00 each, subject to approvals and closing conditions. Management also disclosed “substantial doubt” about the company’s ability to continue as a going concern if no business combination is completed by July 16, 2027, and identified ineffective disclosure controls related to commitments and contingencies.
QuasarEdge Acquisition Corporation announced it has entered into an Agreement and Plan of Merger to combine with Robseek Intelligence Inc. through a two-step transaction: a SPAC Merger and an Acquisition Merger.
Under the agreement, Robseek shareholders (other than excluded shares) will receive portions of 100,000,000 ordinary shares of Purchaser valued at $10.00 per share, reflecting an agreed pre-money equity valuation of $1,000,000,000. Closing is subject to customary conditions, including shareholder approvals, effectiveness of a registration statement, listing approval on Nasdaq or NYSE and completion of an internal reorganization. Certain shareholders, the sponsor and other holders are expected to enter into 180-day lock-up agreements at closing.