Here are the 10-Q quarterly reports from Twelve Seas Investment Company III (TWLV) in our archive since June 2025, 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 TWLV 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 TWLV filings page.
Twelve Seas Investment Company III is a Cayman Islands-based special purpose acquisition company formed to complete a Business Combination. It raised $172.5 million in its December 2025 IPO and private placement, placing the IPO proceeds into a U.S.-based Trust Account. As of June 30, 2026, the Trust Account held $175.8 million, or $10.19 per Public Share for 17,250,000 Class A shares subject to redemption, driven by $3.1 million of dividend income on money market investments.
For the six months ended June 30, 2026, the company reported net income of $2.8 million, compared with a net loss of $81,873 a year earlier, primarily reflecting this investment income, partially offset by $300,218 of general and administrative costs. Cash held outside the Trust Account was $391,972 with working capital of $366,657.
The company has not yet commenced operations or selected a merger target and must complete a Business Combination by December 15, 2027 or redeem all Public Shares. Management states that limited cash outside the Trust Account raises substantial doubt about the company’s ability to continue as a going concern, absent a successful Business Combination or additional financing.
Twelve Seas Investment Company III, a SPAC, reported net income of $1,364,043 for the quarter ended March 31, 2026, driven entirely by $1,528,525 of dividends on investments in its trust account. Operating activity remained minimal, with general and administrative costs of $164,482.
The trust account held $174,294,831, or about $10.10 per redeemable Class A share, while cash available outside the trust was $495,520, leaving working capital of $483,643. Management discloses substantial doubt about the SPAC’s ability to continue as a going concern without completing a business combination or securing additional financing before its December 15, 2027 deadline.