WinVest Acquisition Corp. is a SPAC — a blank check company with no commercial operations. WinVest raised $115M in its September 2021 IPO and placed those proceeds in a trust account to fund an eventual acquisition of a private company, with the goal of taking that company public. WinVest generates no revenue; its sole activity is identifying and negotiating an acquisition target. After a proposed combination with Xtribe, a technology company, was terminated in 2025, WinVest entered into a new Business Combination Agreement in December 2025 with Embed Financial Group Cayman Holdings, which had not yet closed as of the filing date. WinVest's sponsor has repeatedly extended the SPAC's deadline, paying $30,000/month into the trust to keep the vehicle alive. As of December 31, 2025, only ~$3.1M remained in the trust, down from the original ~$116M, as most public shareholders redeemed their shares for cash across multiple extension votes. Returns to investors depend entirely on the quality and performance of the eventual acquisition target, not on WinVest's own operations.