Mercator Acquisition Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting financial results following the closing of its Initial Public Offering on July 10, 2026.

Key Highlights

  • Net loss: The company reported a net loss of $659,532 for the three months ended September 30, 2026, and $731,657 for the nine months ended September 30, 2026.
  • Trust Account: Cash and marketable securities held in Trust Account totaled $173,960,099 as of September 30, 2026, compared to $0 at December 31, 2025.
  • Shares outstanding: As of November 13, 2026, there were 17,250,000 Class A Ordinary Shares and 5,750,000 Class B Ordinary Shares issued and outstanding.
  • Redemption value: 17,250,000 Class A ordinary shares were subject to possible redemption at $10.08 per share as of September 30, 2026.
  • Advisory fee expense: The company recorded an advisory fee expense of $2,587,500 and advisory fee reimbursable income of $750,000 for both the three and nine months ended September 30, 2026.
  • Shareholders' deficit: Total shareholders' deficit was $(8,297,035) at September 30, 2026, compared to $(198) at December 31, 2025.
  • Deferred underwriting fee: The filing reports a deferred underwriting fee of $7,350,000 as of September 30, 2026.

Mercator Acquisition Corp. Financial Results Following July 2026 IPO Closing

Mercator Acquisition Corp. (NASDAQ:MRCOU, NASDAQ:MRCO, NASDAQ:MRCOW), a Cayman Islands-incorporated blank check company based in Norwalk, CT, disclosed its unaudited financial results for the quarter ended September 30, 2026. According to the filing, the company completed its Initial Public Offering on July 10, 2026, the same date on which the underwriters exercised their over-allotment option in full. Total assets as of September 30, 2026 were $175,392,872, the vast majority of which consisted of $173,960,099 held in a Trust Account.

The filing reports that the company recorded a net loss of $659,532 for the three months ended September 30, 2026. Within other income and expense, interest earned on cash and marketable securities held in the Trust Account contributed $1,460,099, while advisory fee expense of $2,587,500 and advisory fee reimbursable income of $750,000 were also recorded for the same period. General and administrative costs for the three months ended September 30, 2026 were $284,045, the filing states.

The filing also describes a series of share recapitalizations. According to the filing, the company issued an additional 191,667 founder shares on February 20, 2026, and 958,333 founder shares on March 19, 2026. On April 17, 2026, the company surrendered 3,833,333 founder shares, resulting in the Sponsor holding an aggregate of 5,750,000 founder shares. The company reported it is a shell company and an emerging growth company under applicable SEC definitions. Total liabilities as of September 30, 2026 were $9,879,808, including the $7,350,000 deferred underwriting fee and $1,837,500 in advisory fees payable as non-current liabilities.

What Was Disclosed

Mercator Acquisition Corp. disclosed its unaudited condensed financial statements for the quarter ended September 30, 2026, including balance sheet data, operating results, and details of share recapitalizations and IPO-related transactions completed during the period.