Business Context and Reporting Period
Company: Oneim Acquisition Corp. (OIM)
Reporting Period: Quarter ended September 30, 2025 (Inception: September 5, 2025)
Business Type: Cayman Islands special purpose acquisition company (SPAC) formed to effect a business combination. As of the reporting date, the Company had not commenced operations and was in the pre-IPO formation stage.
Subsequent Event: The Company consummated its Initial Public Offering (IPO) on January 15, 2026, following the effective date of its registration statement on January 13, 2026.
Key Financial Metrics
| Metric | Value (Period to Sept 30, 2025) |
|---|---|
| Total Assets | $196,107 (Deferred Offering Costs) |
| Total Liabilities | $219,393 |
| Shareholders' Deficit | $(23,286) |
| Net Loss | $(48,286) |
| Net Cash Used in Operating Activities | $0 |
| Cash and Cash Equivalents | $0 |
Capital Structure (Pre-IPO): 7,187,500 Class B ordinary shares issued to the Sponsor for $25,000. No Class A shares were outstanding as of September 30, 2025.
Material Changes and Subsequent Events
The financial statements reflect the Company's formation phase. Significant capitalization occurred subsequent to the reporting period:
- IPO Completion: On January 15, 2026, the Company sold 28,750,000 Units (including full exercise of the 3,750,000 over-allotment option) at $10.00 per unit, generating gross proceeds of $287,500,000.
- Private Placement: Simultaneously, the Sponsor purchased 200,000 Private Placement Units for $2,000,000.
- Trust Account: $287,500,000 was deposited into a Trust Account.
- Transaction Costs: Total transaction costs amounted to $16,732,695, including $275,000 in cash underwriting fees and $15,812,500 in deferred underwriting fees.
- Working Capital: Approximately $833,609 was held outside the Trust Account for working capital purposes post-IPO.
Outlook, Risks, and Contingencies
Business Combination Timeline: The Company has until January 15, 2028 (24 months from IPO) to complete a business combination. This may be extended to March 15, 2028 (27 months) if a definitive agreement is executed within the first 24 months.
Redemption Rights: Public shareholders may redeem shares for a pro rata portion of the Trust Account (initially $10.00 per share plus interest) upon the completion of a business combination.
Risks:
- Going Concern: Prior to the IPO, the Company lacked liquidity to sustain operations for one year. Post-IPO, sufficient funds are available for working capital.
- Geopolitical Instability: Risks associated with the Russia-Ukraine and Israel-Hamas conflicts could impact global markets and the ability to consummate a transaction.
- Failure to Combine: If no business combination is completed by the deadline, the Company will liquidate and distribute Trust Account funds.
Related Party Obligations: The Sponsor has agreed to pay up to $10,000 per month for administrative services. The Sponsor is liable to the Company if third-party claims reduce the Trust Account below $10.00 per share (subject to certain exceptions).
Investor Verification Checklist
- IPO Closing Confirmation: Verify the final closing date and total proceeds of the January 15, 2026 IPO, including the full exercise of the over-allotment option.
- Trust Account Balance: Confirm the current balance in the Trust Account and any interest earned since the IPO.
- Deferred Underwriting Fees: Note the $15,812,500 deferred fee payable only upon successful completion of a business combination.
- Share Count: Verify the outstanding Class A shares (28,950,000 post-IPO) and Class B Founder Shares (7,187,500), noting the 20% ownership target of the Sponsor.
- Extension Provisions: Review the specific conditions required to extend the combination period beyond 24 months.