NorthStar Earth & Space Enterprises, Inc. (formerly Viking Acquisition Corp. I) filed its Form 10-Q for the quarter ended September 30, 2026, with the SEC on November 12, 2026, reporting a net loss of $213,504 for the three-month period and total assets of $237,677,451.

Key Highlights

  • Trust Account: Cash and marketable securities held in Trust Account totaled $237,379,634 as of September 30, 2026, up from $231,467,889 at December 31, 2025.
  • Q3 Net Loss: The company reported a net loss of $213,504 for the three months ended September 30, 2026, compared to net income of $2,359,319 for the nine months ended September 30, 2026.
  • Redemption Value: Class A ordinary shares subject to possible redemption stood at 23,000,000 shares at approximately $10.32 per share as of September 30, 2026.
  • Shareholders' Deficit: Total shareholders' deficit was $(11,503,032) as of September 30, 2026, widened from $(7,950,606) at December 31, 2025, driven by an accumulated deficit of $(11,503,865).
  • General and Administrative Costs: G&A costs were $1,996,896 for the three months ended September 30, 2026, and $3,552,426 for the nine months ended September 30, 2026.
  • Shares Outstanding: As of November 10, 2026, there were 41,322,854 common shares, no par value, issued and outstanding.
  • Interest Income: Interest income on marketable securities held in Trust Account was $1,783,392 for Q3 2026 and $5,911,745 for the nine months ended September 30, 2026.

NorthStar Earth & Space Q3 2026 Financial Position and Operating Results

According to the filing, NorthStar Earth & Space Enterprises, Inc., listed on NYSE American:NSTR and formerly known as Viking Acquisition Corp. I, reported total assets of $237,677,451 as of September 30, 2026. The company's balance sheet reflects the structure of a Special Purpose Acquisition Company (SPAC), with the vast majority of assets held in a Trust Account. Cash on hand fell to $198,455 from $1,277,337 at December 31, 2025, the filing disclosed.

For the three months ended September 30, 2026, the company recorded a net loss of $213,504, the result of $1,996,896 in general and administrative costs partially offset by $1,783,392 in interest income on Trust Account securities. For the nine-month period ended September 30, 2026, net income was $2,359,319, reflecting $5,911,745 in Trust Account interest income against $3,552,426 in G&A costs, according to the filing. Accrued expenses rose sharply to $2,515,849 at September 30, 2026, from $91,037 at December 31, 2025. The deferred underwriting fee remained at $9,200,000 across both periods.

The company's Class B ordinary shares consisted of 7,666,667 shares issued and outstanding as of September 30, 2026 and December 31, 2025. The filing notes that on November 3, 2025, the company consummated its Initial Public Offering, selling 23,000,000 Units including 3,000,000 Units sold pursuant to the full exercise of the underwriters' over-allotment option, which eliminated the forfeiture condition on 1,000,000 Class B shares. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, as stated in the filing.

What Was Disclosed

NorthStar Earth & Space Enterprises filed its quarterly report covering the period ended September 30, 2026, disclosing a Q3 net loss of $213,504, Trust Account assets of $237,379,634, a shareholders' deficit of $(11,503,032), and 41,322,854 common shares outstanding as of November 10, 2026.