This is a Special Purpose Acquisition Company (SPAC) — a blank check shell company with no operations, revenues, or products. The company raised $230M in its July 2024 IPO, with those proceeds held in a trust account earning interest. Its sole purpose is to identify and acquire a private company, effectively taking it public through a merger. The company must complete an acquisition by July 11, 2026, or it will liquidate and return funds to shareholders at approximately $10.59 per share. As of year-end 2025, no target has been identified. The company originally focused on healthcare targets, but following a sponsor change in January 2026, the new management team — affiliated with Dominari Holdings and Sauvegarder Investment Management — has reoriented the search toward U.S. domestic manufacturing, industrial capacity, supply chain, and technology targets. The economic model for sponsors centers on founder shares issued at nominal cost before the IPO, which become valuable if a deal closes. Public shareholders get downside protection through the right to redeem shares at trust value, with upside tied to post-merger performance. Outside the trust, only roughly $65K in cash remained as of December 31, 2025, and the company is funding operations via a promissory note of up to $1.5M from the sponsor at 12% interest. With a full management change recently completed, limited runway remaining, and no target identified, the company faces a tight timeline to close a transaction before its liquidation deadline.