On a liquidation basis, public shareholders are protected by cash in trust and a sponsor indemnity to maintain at least 10 dollars per public share net of permitted deductions.
However, trust funds are restricted and cannot support operations; outside‑trust liquidity was about 0.86 million dollars with roughly 0.80 million dollars of working capital at June 30, 2026. While insolvency risk is low relative to a traditional operating company, the entity has a hard stop date and limited tools if a transaction drags.







