Space Asset Acquisition Corp. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, reporting financial results for the three and nine months ended September 30, 2026.

Key Highlights

  • Trust Account balance: Marketable securities held in Trust Account totaled $235,267,855 as of September 30, 2026, compared to $0 at December 31, 2025.
  • Net income for nine months: The company reported net income of $4,746,912 for the nine months ended September 30, 2026, driven primarily by net earnings on marketable securities held in Trust of $5,244,297.
  • Q3 net income: Net income for the three months ended September 30, 2026 was $1,885,110, against general and administrative expenses of $105,777.
  • Shares outstanding: As of November 13, 2026, there were 23,645,000 Class A ordinary shares and 7,666,667 Class B ordinary shares issued and outstanding.
  • Redemption value: 23,000,000 Class A ordinary shares are subject to possible redemption at a redemption value of $10.23 per share as of September 30, 2026.
  • Total assets: Total assets were $236,741,668 at September 30, 2026, up from $410,731 at December 31, 2025.
  • Shareholders' deficit: Total shareholders' deficit stood at $(6,622,633) as of September 30, 2026.

Space Asset Acquisition Corp. Financial Position After IPO Closing

According to the filing, Space Asset Acquisition Corp. (NASDAQ:SAAQ) completed its Initial Public Offering and related transactions during the nine months ended September 30, 2026. The company disclosed that on January 29, 2026, the underwriters exercised their over-allotment option in full as part of the IPO closing, which also meant that 1,000,000 Founder Shares previously subject to forfeiture are "no longer subject to forfeiture." The company is incorporated in the Cayman Islands and maintains its principal executive offices at 174 Nassau Street, Suite 2100, Princeton, New Jersey 08542.

The filing reports total assets of $236,741,668 at September 30, 2026, the vast majority of which consists of marketable securities held in Trust Account at $235,267,855. Cash and cash equivalents in the operating account were $1,370,187. On the liability side, the company reported a deferred underwriting fee payable of $8,050,000 and accrued expenses of $46,446. The accumulated deficit grew to $(6,713,765) at September 30, 2026 from $(64,829) at December 31, 2025, with accretion of Class A ordinary shares subject to redemption accounting for a significant portion of that movement.

For the nine months ended September 30, 2026, general and administrative expenses totaled $532,684, resulting in a loss from operations of $(532,684). Other income - consisting of $5,244,297 in net earnings on marketable securities held in Trust and $35,299 in earnings on cash equivalents in the operating account - produced net income of $4,746,912 for the period. Basic and diluted net income per share for both Class A shares subject to redemption and Class A and Class B shares not subject to redemption was $0.17 for the nine-month period. The company identified itself as a shell company, smaller reporting company, and emerging growth company in the filing.

What Was Disclosed

Space Asset Acquisition Corp. disclosed its unaudited condensed financial statements for the three and nine months ended September 30, 2026, reflecting the completion of its IPO, $235,267,855 held in Trust, and net income of $4,746,912 for the nine-month period.