Shreya Acquisition Group (SAGU), a blank-check company formed to pursue a business combination, had not begun operations and had no specific target under consideration as of June 30, 2026. Its May 8, 2026 initial public offering sold 11,000,000 units at $10.00 per unit, generating $110,000,000 in gross proceeds. The trust account held $110,546,713 as of June 30, 2026, including interest and dividends earned.
For the year ended June 30, 2026, the company reported net income of $372,145. It recorded $546,613 of trust-account interest income and a $40,500 gain when the remaining over-allotment option expired; general and administrative costs were $214,968. Operating activities used $166,886 in cash. As of June 30, 2026, cash outside the trust account was $840,520 and available working capital was $760,773.
The company has 12 months from the IPO closing to complete a business combination and may seek shareholder approval for an extension; it does not expect an extension beyond 36 months from the IPO closing. Management plans to complete a transaction before mandatory liquidation, but stated that failure to complete a combination without an approved extension raises substantial doubt about its ability to continue as a going concern within one year after the financial statements are issued.
Shreya Acquisition Group (SAGU) said its annual Form 10-K for the period ended June 30, 2026, could not be filed within the prescribed time period. The company said it could not finalize its financial results and Form 10-K disclosures without unreasonable expense or effort, and could not solicit and obtain the necessary review before the due date.
Highbridge Capital Management, LLC, a Delaware limited liability company, reports beneficial ownership of 1,045,000 Class A Ordinary Shares of Shreya Acquisition Group. These Class A Ordinary Shares have a par value of $0.0001 per share.
The stake represents 9.3% of the outstanding Class A Ordinary Shares, based on 11,231,750 shares outstanding as of June 18, 2026, as reported by Shreya Acquisition Group. Highbridge has sole voting and sole dispositive power over the 1,045,000 shares and no shared voting or dispositive power.
Highbridge files as investment adviser to certain funds and accounts that directly hold the shares and states that the filing should not be construed as an admission that it or any related person is the beneficial owner for Section 13 purposes. The Highbridge Funds, including Highbridge Tactical Credit Master Fund, L.P., have rights to receive dividends and sale proceeds, with one fund entitled to more than 5% of the class.
Shreya Acquisition Group’s Schedule 13G/A Amendment No. 1 reports that Harraden Circle Investments, LLC and Frederick V. Fortmiller, Jr. (the reporting persons) now beneficially own 0 Class A shares of the issuer, representing 0% of that class. The amendment follows an internal reorganization effective June 30, 2026, after which the reporting persons ceased to be beneficial owners of the securities previously reported for certain Harraden funds. Voting and dispositive power over Shreya Acquisition Group Class A stock is now reported as zero for both sole and shared categories. The filing is characterized as an exit filing because the reporting persons no longer own more than five percent of the outstanding Class A common stock.
Magnetar Financial LLC and related entities report beneficial ownership of Class A ordinary shares of Shreya Acquisition Group. As of June 30, 2026, Magnetar Financial, Magnetar Capital Partners, Supernova Management, and David J. Snyderman collectively report 750,000 shares, representing 6.68% of outstanding Class A shares, with shared voting and dispositive power over all such shares.
Shreya Acquisition Group, a Cayman Islands blank check company, reported limited operating activity for the quarter ended March 31, 2026 as it prepared for its initial business combination. For the quarter it recorded net income of $16,397, driven by reversal of an accrual, while for the nine months since inception it posted a net loss of $97,808, all from general and administrative costs.
After the balance sheet date, on May 8, 2026, the company closed its IPO of 11,000,000 units at $10.00 each, placing $110,000,000 into a Trust Account and raising an additional $1,917,500 through a private placement of 191,750 units to the sponsor. Transaction costs totaled $1,731,694, including $600,000 of upfront and $600,000 of deferred underwriting fees.
As of March 31, 2026, Shreya had no cash, total assets of $156,405 and a working capital deficit of $232,990. Management discloses that mandatory liquidation if no business combination is completed within the specified window, combined with current liquidity constraints, raises substantial doubt about the company’s ability to continue as a going concern, despite post-IPO cash of $819,520 outside the Trust Account and a working capital surplus of $797,965. Internal controls over financial reporting were deemed ineffective due to limited personnel and inadequate documented procedures.
Shreya Acquisition Group (Class A): Feis Equities LLC and Lawrence M. Feis jointly report beneficial ownership of 262,626 shares, equal to 2.39% of 11,000,000 Class A ordinary shares outstanding as of May 8, 2026. The filing is a Schedule 13G/A (joint filing agreement executed) reporting sole voting and dispositive power over the reported shares.
Shreya Acquisition Group: Harraden-related persons report beneficial ownership of 567,755 Class A shares, representing 5.05% of the Class A shares. The shares are directly owned by Harraden fund entities and reported as shared voting and shared dispositive power. Frederick V. Fortmiller, Jr. is disclosed as managing member of the Harraden adviser and related GP entities that may be deemed to beneficially own these shares.
Shreya Acquisition Group, a SPAC listed on the NYSE, announced that starting on or about May 22, 2026, holders of its units may choose to trade the underlying securities separately. Each unit consists of one Class A ordinary share, one redeemable warrant, and one right.
The Class A ordinary shares, warrants and rights will trade on the NYSE under the symbols “SAGU”, “SAGU WS” and “SAGU RT”, while units will continue under “SAGUU”. Each warrant allows the purchase of one Class A share at $11.50 per share, and each right entitles the holder to receive one-fourth of a Class A share upon completion of an initial business combination.
Shreya Acquisition Group completed its initial public offering of 11,000,000 units at $10.00 per unit, raising gross proceeds of $110,000,000, and placed this amount in a U.S. Treasury-backed trust account. Each unit includes one Class A ordinary share, one redeemable warrant exercisable at $11.50, and one right to receive one-fourth of a Class A share after a business combination.
The sponsor also bought 191,750 private units for $1,917,500, with identical economics but lock-up and transfer restrictions. The audited balance sheet as of May 8, 2026 shows total assets of $110,847,007, including $110,000,000 in the trust and $819,520 in cash outside the trust, against $649,042 of liabilities and $110,000,000 of Class A shares classified as redeemable. The company is a Cayman Islands blank check company formed to pursue a business combination within a 12‑month completion window, with shareholders given redemption rights and management concluding there is no substantial doubt about its ability to continue as a going concern.