Siddhi Acquisition Corp (Cayman Islands)
Siddhi Acquisition Corp is a Cayman Islands-incorporated blank check company formed to complete a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses. As a special purpose acquisition company, it holds capital in trust while it searches for a target and, if successful, combines with that business to take it public.
Fiscal year 2025 · change from previous year
Development 2025–2025
Business
Share of revenue{"• Blank check acquisition vehicle","• Initial business combination execution","• Trust-account capital deployment","• Public-market listing structure"}
Public listing and unit issuance used to raise cash for a future acquisition.
Interest earned on U.S. Treasury Bills held in the trust account.
Structuring and completing a merger or similar acquisition with a target company.
Customers
The company does not sell products or services to end customers in the ordinary course. Its counterparties are investors in the SPAC units and, ultimately, a target operating business and its shareholders in a business combination transaction.
Buy units and shares for exposure to a future acquisition transaction and redemption rights.
Provide capital through founder shares and private placement units to support the SPAC structure.
Potential merger partners that receive cash and public listing access through a business combination.
Underwriters, legal, accounting, and administrative providers that support the SPAC process.
Strategy
The company’s core strategy is to identify and complete an initial business combination with one or more operating businesses. It seeks to use trust-account proceeds, private placement capital, and potentially additional financing to fund the transaction and support the acquired business after closing.
The SPAC has no operating business until it closes a transaction.
Closing a transaction is the central value-creation event for the structure.
The acquired business may need additional capital beyond trust proceeds.
Geography
Siddhi Acquisition Corp is incorporated in the Cayman Islands but operates as a U.S.-listed acquisition vehicle. Its economic activity is centered on the United States through its public offering, trust-account investments, sponsor arrangements, and transaction execution.
Risks
The company’s main risk is that it may not complete a business combination, which would limit the SPAC’s ability to create value for investors. It also faces transaction, regulatory, and redemption risk, since SPAC structures depend on finding a suitable target, obtaining approvals, and retaining sufficient capital after redemptions.
The company exists to acquire a target; without a closing, it has no operating business.
Exposure: Entire business model
Public shareholders may redeem shares, lowering cash available for the target.
Exposure: Trust-account proceeds
Legal, advisory, and administrative expenses are incurred before any operating revenue exists.
Exposure: Pre-combination period
SPACs must satisfy SEC, exchange, and disclosure requirements throughout the process.
Exposure: Public company obligations
Accounting
Judgemental itemsShares with redemption rights are classified outside permanent equity, changing balance sheet presentation.
Impact: Affects temporary equity and net loss per share
U.S. Treasury Bills in the trust account generate interest income and are central to liquidity.
Impact: Affects non-operating income and available transaction funding
These costs are tied to the IPO and business combination structure rather than operations.
Impact: Affects cash, equity, and transaction accounting
SPAC accounting requires judgment in valuing redeemable instruments and related balances.
Impact: Affects reported equity and comparability
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Last updated: 24/09/2026