Harvard Ave Acquisition Corporation filed its quarterly report on Form 10-Q for the quarter ended September 30, 2026, with the SEC on November 4, 2026, disclosing financial results and balance sheet data for the blank-check company listed on NASDAQ.

Key Highlights

  • Trust Account balance: Investments held in Trust Account totaled $149,984,711 as of September 30, 2026, up from $146,003,054 at December 31, 2025.
  • Redemption value: The 14,500,000 Class A ordinary shares subject to possible redemption carried a redemption value of $10.34 per share as of September 30, 2026.
  • Net income: The company reported net income of $1,087,760 for the three months ended September 30, 2026, compared to a net loss of $32,542 in the same period of 2025.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $3,287,434, driven by $3,981,657 in interest earned on investments held in the Trust Account.
  • Shareholders' deficit: Total shareholders' deficit was $(4,409,013) as of September 30, 2026, reflecting an accumulated deficit of $(4,409,632).
  • Shares outstanding: As of November 3, 2026, there were 15,859,856 Class A ordinary shares and 4,833,333 Class B ordinary shares issued and outstanding.
  • Shell company status: The registrant indicated that it is a shell company as defined in Rule 12b-2 of the Exchange Act.

Harvard Ave Acquisition Reports Q3 2026 Financials as SPAC Holds $149.98M in Trust

According to the filing, Harvard Ave Acquisition Corporation (NASDAQ:HAVA), a blank-check company incorporated in the Cayman Islands and headquartered in Seoul, Republic of Korea, reported a net income of $1,087,760 for the three months ended September 30, 2026. The company attributed this result primarily to $1,372,407 in interest earned on investments held in its Trust Account during the quarter, partially offset by $284,647 in formation and operating costs. For the comparable three-month period in 2025, the company reported a net loss of $32,542 and recorded no trust interest income.

The balance sheet as of September 30, 2026 showed total assets of $150,686,581, with the Trust Account representing nearly all of that figure at $149,984,711. The company disclosed that 14,500,000 Class A ordinary shares remain subject to possible redemption at $10.34 per share. Total current liabilities stood at $760,883, including accrued expenses of $426,866 and a related-party promissory note of $258,910. The deferred underwriting fee payable remained at $4,350,000, unchanged from year-end 2025. Total liabilities were $5,110,883.

For the nine months ended September 30, 2026, the company reported net income of $3,287,434 on $3,981,657 of trust interest income, against $694,223 in formation and operating costs. The filing noted that in October 2025, the underwriters forfeited their over-allotment option to purchase up to an additional 2,175,000 units, which resulted in the cancellation of 725,000 Class B ordinary shares previously held by the sponsors. The company classifies itself as a non-accelerated filer, smaller reporting company, and emerging growth company. It confirmed it had filed all required Exchange Act reports during the preceding 12 months.

What Was Disclosed

Harvard Ave Acquisition Corporation disclosed its unaudited financial statements for the quarter ended September 30, 2026, covering its Trust Account balance, net income driven by trust interest, shareholders' deficit position, and share counts as of November 3, 2026.