UY Scuti Acquisition Corp. (UYSC) deposited $450,000 into its trust account on September 30, 2026, extending its deadline to complete an initial business combination from October 1, 2026, to January 1, 2027, for the third three-month extension period. Isdera HK Limited, an affiliate of Isdera Group Limited, loaned UYSC the extension payment; UYSC expects to issue the lender a promissory note.
On September 22, 2026, UYSC and the other merger parties entered a joinder agreement that made Isdera Inc. and Isdera Technology Limited parties to the Merger Agreement. The parties then entered the First Amendment to the Merger Agreement.
UY Scuti Acquisition Corp. (UYSC), Isdera Inc, Isdera Technology Limited, Isdera Group Limited, the Principal Shareholders and Wenfang Song, acting as the Principal Shareholders’ representative, agent and attorney-in-fact, entered into a joinder and first amendment to their merger agreement on September 22, 2026. The joinder made Isdera Inc and Isdera Technology Limited parties to the agreement.
The amendment revised the definition of “Company Net Value” to $920,000,000, corrected a technical error in “Purchaser Rights,” and amended and restated schedules allocating closing consideration among Isdera Group shareholders. It also amended and restated Isdera Group’s representation concerning its share capital and related schedules.
UY Scuti Acquisition Corp. (UYSC) reported initial insider ownership for Yin Qunxue, CEO and Chairman, via a Form 3. The filing shows indirect holdings through UY Scuti Investments Limited (the Sponsor) of 1,448,348 Ordinary Shares and Rights that are exercisable into 48,169 Ordinary Shares at an exercise price of $0.0000 per share. Each Right entitles the holder to receive one-fifth of one Ordinary Share upon consummation of the company’s initial business combination and will expire upon liquidation if that combination is not completed. Yin Qunxue is the sole director and control person of the Sponsor, has sole voting and dispositive power over these securities, and disclaims beneficial ownership except to the extent of his pecuniary interest.
UY Scuti Acquisition Corp., a Cayman Islands SPAC, reported unaudited results for the quarter ended June 30, 2026. Total assets were $35.6 million, consisting largely of $35.6 million of cash in its Trust Account after substantial shareholder redemptions.
The company recorded net income of $164,865, driven by $302,840 of interest on Trust funds and $137,975 of operating expenses. Following a March 2026 extension vote, holders of 2,437,288 ordinary shares redeemed for about $25.3 million, leaving 3,312,712 public shares outstanding. The sponsor and Isdera affiliates deposited an aggregate $900,000 into the Trust to fund two three‑month extension periods.
The company has a working capital deficit and shareholders’ deficit of $1,640,146 and an accumulated deficit of $2,615,575. Management discloses substantial doubt about the ability to continue as a going concern if a Business Combination—pursuant to a signed $1 billion Merger Agreement with Isdera Group Limited—is not completed by April 1, 2027.
Mizuho Financial Group, Inc., a Japan-based parent holding company, reported its beneficial ownership in UY Scuti Acquisition Corp. common shares in an amended Schedule 13G. Mizuho reports beneficial ownership of 469,800 common shares, representing 6.1% of the class as of the reporting date.
Mizuho has sole voting and sole dispositive power over all 469,800 shares, with no shared voting or dispositive power. The shares are directly held by Mizuho Securities USA LLC, and Mizuho Financial Group, Inc., Mizuho Bank, Ltd., and Mizuho Americas LLC may be deemed indirect beneficial owners through this wholly owned subsidiary.
UY Scuti Acquisition Corp. reported leadership changes effective August 6, 2026. Jialuan Ma resigned as Chief Executive Officer and as a member of the Board of Directors for personal reasons, with the company stating her resignation did not arise from any disagreement regarding operations, policies, or practices. The Board appointed Qunxue Yin, age 62, as Chief Executive Officer and Chairman of the Board, effective August 8, 2026. Mr. Yin has decades of management and financial experience at Chinese banks and holds advanced degrees in finance and economics. He is the sole director and control person of the company’s Sponsor, UY Scuti Investments Limited, which owns 1,448,348 ordinary shares. In connection with his agreement to serve as CEO, the Sponsor intends to transfer an aggregate of 50,000 ordinary shares of the company that it holds to Mr. Yin. The company states there are no family relationships between Mr. Yin and other officers or directors and no related-party transactions requiring disclosure beyond his role with the Sponsor.
W. R. Berkley Corporation, through its subsidiary Berkley Insurance Company, reports beneficial ownership of ordinary shares of UY Scuti Acquisition Corp. This amended Schedule 13G states beneficial ownership of 407,586 Ordinary Shares.
The filing reports this position as representing 7.8% of the outstanding class of UY Scuti Acquisition Corp. ordinary shares. W. R. Berkley Corporation and Berkley Insurance Company each report 0 shares with sole voting or dispositive power and 407,586 shares with shared voting and shared dispositive power.
Scuti Acquisition Corporation, a Cayman Islands SPAC, describes its IPO and current status as it searches for an initial business combination. It sold 5,750,000 Units at $10.00 each, placing $57,500,000 of IPO and private placement proceeds into a U.S. trust account.
On March 31, 2026, shareholders approved charter and trust amendments allowing up to four three‑month extensions of the business combination deadline to April 1, 2027, each requiring a $450,000 deposit into the trust. In connection with that meeting, holders of 2,437,288 ordinary shares redeemed at about $10.38 per share, removing approximately $25,302,078 from the trust and leaving about $34,390,068. After redemptions, 5,221,060 ordinary shares were outstanding, including 3,312,712 public shares.
The company outlines a proposed Isdera Business Combination, involving a SPAC merger and acquisition merger under an Agreement and Plan of Merger dated July 18, 2025. Consideration to Isdera shareholders would be Purchaser Ordinary Shares based on an agreed $1,000,000,000 equity value at $10.00 per share, subject to conditions including shareholder approvals, CSRC approvals, SEC effectiveness and continued Nasdaq listing.
UY Scuti Acquisition Corp. deposited $450,000 into its IPO trust account on June 30, 2026 to extend the time to complete its initial business combination. The payment was funded as a loan from Isdera HK Limited, an affiliate of Isdera Group.
This deposit triggers the second three-month extension of the merger deadline, moving the date to consummate the initial business combination from July 1, 2026 to October 1, 2026. The company expects to issue a promissory note to Isdera HK Limited for the loan and plans to file that note as an exhibit in a future filing.
The filing reiterates the planned business combination under the July 18, 2025 Merger Agreement among UY Scuti Acquisition Corp., Isdera, Inc., Merger Sub, and Isdera Group Limited. It also explains that a registration statement on Form F-4 or Form S-4, including a proxy statement/prospectus, will be filed to provide shareholders with detailed information and solicit their votes on the proposed transaction.