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10-Q: Q2 2024 Earnings Report

SEC ·  Aug 8, 2024 21:09

Summary by Moomoo AI

Golden Arrow Merger Corp. (BSLK.US) reported Q2 2024 net income of $318,533, driven by a $729,167 positive change in warrant liability valuation and $59,346 in interest income. Operating costs were $461,423 for the quarter. For H1 2024, the company posted a net loss of $894,780 with operational costs of $851,313.The company continues to progress on its proposed business combination with Bolt Threads, Inc. The merger agreement's outside date has been extended to September 16, 2024. The PIPE investment commitment has been revised to $22.87 million, with investors agreeing to purchase up to 763,144 PIPE shares at $10 per share. The Sponsor committed to purchase up to 240,000 shares.As of June 30, 2024, the company held $6.37 million in its trust account and $28,657 in operating cash. The Nasdaq Hearings Panel has granted an extension until September 16, 2024 to complete the business combination. The SEC declared the Form S-4 registration statement effective on July 18, 2024, with a special stockholder meeting scheduled for August 9, 2024 to vote on the merger.
Golden Arrow Merger Corp. (BSLK.US) reported Q2 2024 net income of $318,533, driven by a $729,167 positive change in warrant liability valuation and $59,346 in interest income. Operating costs were $461,423 for the quarter. For H1 2024, the company posted a net loss of $894,780 with operational costs of $851,313.The company continues to progress on its proposed business combination with Bolt Threads, Inc. The merger agreement's outside date has been extended to September 16, 2024. The PIPE investment commitment has been revised to $22.87 million, with investors agreeing to purchase up to 763,144 PIPE shares at $10 per share. The Sponsor committed to purchase up to 240,000 shares.As of June 30, 2024, the company held $6.37 million in its trust account and $28,657 in operating cash. The Nasdaq Hearings Panel has granted an extension until September 16, 2024 to complete the business combination. The SEC declared the Form S-4 registration statement effective on July 18, 2024, with a special stockholder meeting scheduled for August 9, 2024 to vote on the merger.
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