Viking Acquisition Corp. I, a newly formed SPAC, reports its first results for the period from July 24 through September 30, 2025. The company had no revenue and recorded a net loss of $1,071,594, driven mainly by $1,023,997 of share-based compensation related to founder shares and $47,597 of general and administrative costs. As of September 30, it had no cash and a working capital deficit of $333,502, funded through a sponsor promissory note and deferred offering costs.
After the quarter, Viking completed its initial public offering on November 3, 2025, selling 23,000,000 units at $10.00 each, including full exercise of the over-allotment, and placing $230,000,000 into a trust account. It also sold 660,000 private placement units for $6,600,000 and incurred $14,339,392 of offering-related transaction costs. Public shareholders can redeem their Class A shares from the trust if no business combination is completed within 24 months of the IPO closing. As of December 15, 2025, 23,660,000 Class A and 7,666,667 Class B ordinary shares were outstanding.