X3 Acquisition Corp. Ltd., a Cayman Islands SPAC, completed its IPO in January 2026, selling 22,500,000 units and placing $225,000,000 into a U.S. Treasury-focused Trust Account. As of June 30, 2026, trust assets had grown to $228,489,882, or $10.16 per public share, from interest income.
For the three and six months ended June 30, 2026, the company reported net income of $1,844,612 and $2,757,808, respectively, driven almost entirely by $3,489,882 of interest on trust investments, while general and administrative costs were $380,374 for the six-month period. There have been no operating revenues and no business combination has been identified.
Outside the Trust, cash was $644,214 with working capital of $937,597. Management discloses that this liquidity position and the limited time remaining in its 24‑month completion window raise substantial doubt about the ability to continue as a going concern, absent completing a business combination or securing additional financing.
Meteora Capital, LLC and its managing member Vik Mittal report beneficial ownership of Class A Common Stock of X3 Acquisition Corp. Ltd. They report holding 1,408,079 shares, representing 6.26% of the class as of June 30, 2026. All voting and dispositive authority over these shares is described as shared, with no sole voting or dispositive power reported. The filing states that it should not be construed as an admission that the reporting persons are beneficial owners for Section 13 purposes.
X3 Acquisition Corp. Ltd. beneficial ownership disclosure: Meteora Capital, LLC and Vik Mittal report shared voting and dispositive power over 1,999,000 shares of Class A Common Stock, equal to 8.88% of the class as of 03/31/2026. The filing lists shared voting and disposal authority rather than sole control.
X3 Acquisition Corp. Ltd. reporting persons led by Magnetar Financial LLC filed a Schedule 13G disclosing beneficial ownership of 1,400,000 Class A ordinary shares as of March 31, 2026. The filing states this equals approximately 6.22% of the outstanding shares, using the issuer's reported figure of 22,500,000 shares from the Form 10-K.
The ownership is held across multiple Magnetar funds (detailed by fund in the filing) and is reflected as shared voting and dispositive power of 1,400,000 shares for each reporting person named in the joint filing.
Adage Capital and two principals report shared beneficial ownership of 1,800,000 Class A ordinary shares of X3 Acquisition Corp. Ltd. The filing states this represents 8.00% of the class, based on 22,500,000 Class A Ordinary Shares outstanding as of March 23, 2026. The disclosure is made on behalf of Adage Capital Management, L.P., and reporting persons Robert Atchinson and Phillip Gross, reflecting shared voting and dispositive power over the reported shares.
X3 Acquisition Corp. Ltd. is a Cayman Islands-based special purpose acquisition company formed on July 31, 2025 to pursue an initial business combination, primarily in financial services. It has no operations and reported a net loss of $69,205 from inception through December 31, 2025, driven by formation and administrative costs.
On January 22, 2026, the company completed an IPO of 20,000,000 units at $10.00 each, followed by a partial over-allotment of 2,500,000 units on January 26, 2026. Together with private warrant placements, $225,000,000 was deposited into a trust account invested in short-term U.S. government instruments for the benefit of public shareholders.
X3 has up to 24 months from the IPO closing to complete a business combination meeting Nasdaq’s 80% of assets test, or it will redeem all public shares and liquidate. As of December 31, 2025, it had a working capital deficit of $280,425 and depends on sponsor support and potential working capital loans until a deal is completed.
X3 Acquisition Corp. Ltd. announced that, starting March 13, 2026, holders of its units may elect to separately trade the Class A ordinary shares and warrants included in each unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
Separated Class A ordinary shares will trade on Nasdaq under the symbol XCBE and whole warrants under XCBEW, while units that are not separated will continue to trade under XCBEU. Only whole warrants will trade, and holders must have their brokers contact Continental Stock Transfer & Trust Company to separate units.
Meteora Capital, LLC filed a Schedule 13G reporting beneficial ownership of 2,000,000 shares of Class A common stock of X3 Acquisition Corp. Ltd., representing 8.89% of the class as of January 31, 2026.
The shares are held by certain funds and managed accounts advised by Meteora Capital, with shared voting and dispositive power over all 2,000,000 shares and no sole voting or dispositive power. Vik Mittal, Managing Member of Meteora Capital, is also listed as a reporting person. The securities are certified as acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of X3 Acquisition Corp. Ltd.
X3 Acquisition Corp. Ltd. disclosed that its IPO underwriters partially exercised their over-allotment option, buying 2,500,000 additional units at $10.00 per unit for gross proceeds of $25,000,000. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
At the same time on January 26, 2026, the sponsor purchased 375,000 additional private warrants at $1.00 per warrant, adding $375,000 in proceeds. In total, $225,000,000 of net proceeds from the IPO, the over-allotment units, and related private placements was deposited into the trust account for the benefit of public shareholders.
X3 Acquisition Corp. Ltd. completed its initial public offering of 20,000,000 units at $10.00 per Unit, generating gross proceeds of $200,000,000. Each Unit includes one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share.
The company also completed a Private Placement of 5,000,000 Private Warrants to its sponsor at $1.00 per warrant, raising an additional $5,000,000. As of January 22, 2026, $200,000,000 of net proceeds, including $5,000,000 in deferred underwriting commissions, was deposited into a trust account for the benefit of public shareholders.