Piermont Valley Acquisition Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026, disclosing a six-month net loss of $118,701 and a total shareholders' deficit of $1,638,164 as of that date.

Key Highlights

  • Net loss (six months): The company reported a net loss of $118,701 for the six months ended September 30, 2026, compared to a net loss of $1,005,148 for the same period in 2025, according to the filing.
  • Trust account balance: Cash and cash equivalents held in trust totaled $2,500,974 as of September 30, 2026, up from $2,456,980 as of March 31, 2026.
  • Shareholders' deficit: Total shareholders' deficit stood at $(1,638,164) as of September 30, 2026, reflecting an accumulated deficit of $(1,638,739).
  • Public warrant liability: The warrant liability for public warrants increased to $1,265,000 as of September 30, 2026, from $1,150,000 as of March 31, 2026.
  • Shares outstanding: As of November 13, 2026, there were 5,954,450 ordinary shares issued and outstanding, consisting of 5,954,449 Class A ordinary shares and one Class B ordinary share.
  • Shell company status: The registrant indicated it is a shell company as defined in Rule 12b-2 of the Exchange Act.
  • Related-party note payable: The note payable to a related party totaled $278,021 as of September 30, 2026, up from $255,797 as of March 31, 2026.

Piermont Valley Acquisition Corp. Reports Results for the Period Ended September 30, 2026

Piermont Valley Acquisition Corp., formerly known as Capitalworks Emerging Markets Acquisition Corp., is described in the filing as "a blank check company incorporated as a Cayman Islands exempted company." The company's Class A ordinary shares trade under the symbol CMCAF, with the filing listing no exchange as the name of each exchange on which that class is registered. The 10-Q was filed for the quarterly period ended September 30, 2026, with a commission file number of 001-41108.

According to the filing, total assets as of September 30, 2026 were $2,503,851, the vast majority of which was held in the trust account ($2,500,974). Outside the trust, cash on hand was just $2,877. Total liabilities reached $1,641,041, driven primarily by the public warrant liability of $1,265,000 and a related-party note payable of $278,021. Formation and operating costs for the six months ended September 30, 2026 were $47,699, compared to $116,532 for the prior-year period. The change in fair value of warrant liabilities contributed a loss of $115,000 for both the three-month and six-month periods ended September 30, 2026.

Net cash provided by operating activities for the six months ended September 30, 2026 was $42,331, the filing disclosed. The company received no proceeds from financing activities during the period, compared to $22,871 in related-party note payable proceeds in the prior-year period. Basic and diluted net loss per Class A redeemable ordinary share was $(0.0199) for the six months ended September 30, 2026, against $(0.1688) for the comparable prior-year period. The filing also notes a going concern consideration in Note 1, though the full text of that note was not included in the extracted portion.

What Was Disclosed

Piermont Valley Acquisition Corp. filed a 10-Q for the period ended September 30, 2026, reporting a six-month net loss of $118,701, total assets of $2,503,851 (mostly held in trust), a shareholders' deficit of $(1,638,164), and a public warrant liability of $1,265,000.