Every 10-Q that Ribbon Acquisition Corp Unit (RIBBU) has filed with the SEC in the last 24 months is listed below, 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 RIBBU 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 RIBBU filings page.
Ribbon Acquisition Corporation, a Cayman Islands SPAC listed on Nasdaq, reports that as of June 30, 2026 it held $38.4 million in cash and marketable securities in its trust account and total assets of $38.5 million. Current assets outside the trust were minimal at $75,669, and current liabilities were $1.8 million, resulting in a working capital deficit of about $1.8 million.
For the six months ended June 30, 2026, Ribbon recorded net income of $233,154, driven by $649,551 of interest income on trust investments, offset by $416,397 of operating expenses. Class A ordinary shares subject to possible redemption totaled $35.1 million, reflecting redemptions of 1,436,867 public shares for $14.9 million at approximately $10.40 per share in January 2026.
The company has until January 16, 2027 to complete its initial business combination with DRC Medicine Ltd. and related parties, under a Business Combination Agreement valuing the target at an equity value of 350,000,000, with consideration shares determined by the SPAC’s redemption price. Management discloses that mandatory liquidation if no deal closes by the deadline, combined with limited working capital, raises substantial doubt about Ribbon’s ability to continue as a going concern. Subsequent extension deposits of $125,000 per month continue to be made into the trust.
Ribbon Acquisition Corporation reported Q1 2026 net income of $252,755, driven by $330,541 of interest on trust investments against operating expenses of $77,786. As of March 31, 2026, the trust held $37,716,530 and cash outside the trust was $1,878.
The SPAC has $35,062,690 of Class A shares classified as redeemable and a working capital deficit of $1,008,960, and management highlights substantial doubt about its ability to continue as a going concern if a business combination is not completed by January 16, 2027. The company continues to pursue its previously signed Business Combination Agreement with DRC Medicine and funded extension payments via a $600,000 related-party promissory note.
Ribbon Acquisition Corporation is a blank-check company that completed a $50.0 million IPO and a $2.2 million private placement and placed approximately $50.94 million in a trust invested in short-term U.S. government instruments. The company reported $292,628 in cash outside the trust and working capital of $273,620. For the six months ended June 30, 2025, Ribbon recorded $935,448 of interest income on trust investments and net income of $507,153, offset by $2,800,290 of accretion related to Class A shares subject to redemption, resulting in a net loss when accretion is included.
The registrant entered into a Business Combination Agreement with DRC Medicine (announced June 30, 2025) and plans to domesticate to Delaware prior to closing. Management disclosed substantial doubt about the companys ability to continue as a going concern absent a completed business combination within the prescribed Combination Period, and ordinary shares subject to possible redemption are carried at a redemption value of $46,672,612.