Business Context and Reporting Period
Aldabra 4 Liquidity Opportunity Vehicle, Inc. (the "Company") is a Cayman Islands blank check company formed for the purpose of effecting a merger, share exchange, or similar business combination. The Company is an emerging growth company and a smaller reporting company. This Form 10-Q covers the quarter ended March 31, 2026. The Company consummated its Initial Public Offering (IPO) on January 23, 2026, and has not yet commenced any operations. All activity to date relates to its formation and the IPO.
Key Financial Metrics
| Metric | Value (Three Months Ended March 31, 2026) |
|---|---|
| Net Income | $1,242,255 |
| Revenue | $0 (No operating revenue) |
| Interest Income (Trust Account) | $1,900,715 |
| General and Administrative Expenses | $658,460 |
| Cash and Cash Equivalents | $1,070,844 |
| Marketable Securities in Trust Account | $302,050,715 |
| Total Assets | $303,239,312 |
| Total Liabilities | $12,881,662 |
| Working Capital Surplus | $1,095,935 |
| Deferred Underwriting Fee Payable | $12,789,000 |
| Class A Shares Subject to Redemption | 30,015,000 shares ($10.06 per share) |
| Net Income Per Share (Class A & B) | $0.04 (Basic and Diluted) |
Material Changes vs. Prior Period
The reporting period represents a significant transition from a pre-IPO shell company to a post-IPO SPAC with funds in trust.
- Assets: Total assets increased from $285,064 as of December 31, 2025, to $303,239,312 as of March 31, 2026. This increase is primarily due to the deposit of $300,150,000 into the Trust Account following the IPO.
- Liabilities: Total liabilities increased from $338,146 to $12,881,662, driven by the recognition of a $12,789,000 deferred underwriting fee payable.
- Equity: Shareholders' deficit increased from $(53,082) to $(11,693,065) due to the accretion of Class A ordinary shares to their redemption value and the allocation of offering costs.
- Cash Flow: The Company generated $301,907,907 in net cash from financing activities (IPO proceeds) and used $300,150,000 in investing activities (Trust Account deposit).
Outlook, Risks, and Management Commentary
Business Combination Timeline: The Company has until January 23, 2028 (24 months from the IPO closing) to complete a Business Combination. If not completed, the Company will liquidate and distribute funds from the Trust Account.
Capital Resources: Management has determined that substantial doubt regarding the Company's ability to continue as a going concern has been alleviated following the IPO. The Company holds $302,050,715 in the Trust Account and $1,070,844 in cash outside the Trust Account for working capital.
Risks and Contingencies:
- Geopolitical Instability: The filing highlights risks associated with the Russia-Ukraine conflict, the Israel-Hamas conflict, and global sanctions, which could impact capital markets and the ability to find a target.
- Tariffs and Trade Policy: The Company notes potential impacts from U.S. tariff policies, including recent executive orders imposing baseline tariffs on imports.
- Redemption Risk: Public shareholders have the right to redeem their shares upon the completion of a Business Combination, which could reduce the funds available for the transaction.
- Related Party Transactions: The Company pays the Sponsor $30,000 per month for administrative services. As of March 31, 2026, $71,000 in fees were incurred, with $11,000 accrued.
Investor Verification Checklist
- Verify the Trust Account balance of $302,050,715 and the per-share redemption value of $10.06.
- Confirm the deferred underwriting fee of $12,789,000 is contingent upon the successful completion of a Business Combination.
- Review the 24-month deadline (January 23, 2028) for completing a Business Combination and the conditions for extension.
- Assess the impact of geopolitical risks and tariff policies on the Company's ability to identify and close a target transaction.
- Monitor the monthly administrative fees paid to the Sponsor ($30,000) and their effect on working capital outside the Trust Account.