CCAQ 10-K & 10-Q changes, risk factors and insider trading

We have neither engaged in any operations nor generated any revenues to date. Our only activities from September 13, 2024 (inception) through MarchJune 31,30, 2026 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended MarchJune 31,30, 2026, we had net income of $714,594,$359,974, which consists of interest income on marketable securities held in the Trust Account of $1,300,569$1,320,733 offset by general and administrative costs of $585,975.$960,759.

For the threesix months ended MarchJune 31,30, 2025,2026, we had a net lossincome of $48,094$1,074,568, which consists of formationinterest andincome on marketable securities held in the Trust Account of $2,621,302 offset by general and administrative costs.costs of $1,546,734.

For the threesix months ended MarchJune 31,30, 2026, cash used in operating activities was $281,544.$322,109. Net income of $714,594$1,074,568 was affected by interest earned on marketable securities held in the Trust Account of $1,300,569.$2,621,302. Changes in operating assets and liabilities provided $304,431$1,224,625 of cash for operating activities.

For the threesix months ended MarchJune 31,30, 2025, cash used in operating activities was $14,862.$205,109. Net lossincome of $48,094$712,925 was affected by interest earned on marketable securities held in the Trust Account of $873,464 offset by the payment of operatingoffering expensescosts through promissory note – related party of $23,500 and the payment of operating costs through advances from related party of $4,320. Changes in operating assets and liabilities providedused $5,412$72,390 of cash for operating activities.

As of MarchJune 31,30, 2026, we had marketable securities held in the Trust Account of $149,211,344$150,532,077 (including approximately $5,101,969$6,422,702 of interest income) consisting of money market funds invested in U.S. treasury securities. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

As of MarchJune 31,30, 2026, we had operating cash and cash equivalents of $84,207. $43,642 and a working capital deficit of $137,626. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In connection with our Management’s assessment of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of MarchJune 31,30, 2026, the Companywe may need to raise additional capital through loans or additional investments from theour New Sponsor, shareholders, officers, directors, or third parties. Our officers, directors and New Sponsor may, but are not obligated to, loan fundsus to the Company,funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’sour working capital needs. Accordingly, the Companywe may not be able to obtain additional financing. If thewe Company isare unable to raise additional capital, itwe may be required to take additional measures to conserve liquidity, which could include, but would not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses. The CompanyWe cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. The Company’sOur liquidity condition raises substantial doubt about the Company’sour ability to continue as a going concern for a period of timetime, which is considered to be the earlier of, the liquidation date of August 8, 2027 or within one year after the date that the accompanying unaudited condensed financial statements are issued. Management plans to address this uncertainty through a Business Combination.

We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of MarchJune 31,30, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Net Income (Loss) per Ordinary Share

The Company complies with accounting and disclosure requirements of ASC 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average ordinary shares outstanding for the respective period. Diluted net income (loss) per share attributable to ordinary shareholders adjusts the basic net income (loss) per share attributable to ordinary shareholders and the weighted-average ordinary shares outstanding for the potentially dilutive impact of outstanding warrants. However, because the warrants are anti-dilutive, they have been excluded from the calculation of diluted income (loss) per ordinary share for the periods presented.