QuasarEdge Acquisition Corporation (NYSE:QRED) filed its quarterly report on Form 10-Q for the quarter ended July 31, 2026, with the SEC on September 21, 2026, disclosing financial results following the completion of its initial public offering.

Key Highlights

  • Trust Account: Investments held in the Trust Account totaled $116,764,068 as of July 31, 2026, compared to $0 at January 31, 2026.
  • Net Income: The company reported net income of $660,739 for the six months ended July 31, 2026, driven by $1,189,068 in interest earned on Trust Account investments.
  • IPO Proceeds: The company received $115,000,000 in proceeds from its initial public offering and over-allotment exercise during the period.
  • Shares Outstanding: As of September 21, 2026, 16,040,000 ordinary shares were issued and outstanding, including shares underlying units.
  • Redeemable Shares: 11,500,000 ordinary shares are subject to possible redemption at $10.15 per share as of July 31, 2026.
  • Operating Loss: Formation and operating costs of $528,329 produced a loss from operations of $528,329 for the six months ended July 31, 2026.

QuasarEdge Reports First Full Quarter After IPO Completion

According to the filing, QuasarEdge Acquisition Corporation is a blank check company incorporated in the Cayman Islands, with principal offices at 1185 Avenue of the Americas, 3rd Floor, New York, NY 10036. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company. The filing confirms the registrant is a shell company as defined under Rule 12b-2 of the Exchange Act.

The condensed balance sheet as of July 31, 2026 shows total assets of $117,247,489, with the Trust Account representing the largest component at $116,764,068. Total current liabilities stood at $199,018, including $125,000 in accrued offering costs and $68,709 in accounts payable and accrued expenses. Shareholders' equity as of July 31, 2026 was $284,403, which included a subscription receivable from the Sponsor of $(150,000). During the period, the company issued 285,000 Private Placement Units for proceeds of $2,850,000 and 230,000 Representative Shares valued at $357,880, according to the statement of changes in shareholders' equity.

The statement of cash flows for the six months ended July 31, 2026 shows $115,575,000 was placed into the Trust Account from IPO and related proceeds. Net cash used in operating activities was $(452,634), while net cash generated from financing activities was $116,268,718. The company reported a net change in cash of $241,084, ending the period with cash of $242,332. The filing also discloses noncash activity including remeasurement of ordinary shares subject to possible redemption of $7,039,385 and offering costs of $125,000 included in accrued offering costs.

What Was Disclosed

QuasarEdge Acquisition Corporation disclosed its unaudited condensed financial statements for the quarter and six months ended July 31, 2026, reflecting the completion of its IPO, the funding of its Trust Account, and net income of $660,739 for the six-month period.