Melar Acquisition Corp. I/Cayman
Business
Melar Acquisition Corp. I/Cayman is a blank check company formed to effect a Business Combination by identifying and acquiring an operating business. It provides a public vehicle and capital through its IPO units, Class A ordinary shares and warrants to facilitate a merger or similar transaction and to bring a private target public. The company focuses its acquisition criteria on the emerging finance sector, including retail finance, specialty finance, MSME finance, renewable energy financing and digital payments. It targets opportunities across the United States and global markets, sourcing deals through its management team’s network, investment banks, private funds and other industry contacts and intends to complete transactions consistent with Nasdaq and SEC listing and disclosure requirements.
Summary from filing dated 2025-03-21
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| General and administrative costs | 1 | |
| Loss from operations | −1 | |
| Interest due from Everli | 555,862 | |
| Interest expense on Sponsor Loan | −539,932 | |
| Interest on cash held in the operating account | 531 | |
| Change in fair value of Over-Allotment Option liability | — | |
| Dividends and interest earned on marketable securities and cash held in Trust Account | 7 | |
| Total other income, net | 7 | |
| NET INCOME | 6 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-06-30 | FY 2024 2024-02-29 |
|---|---|---|---|---|---|
| Cash | 32,075 | 878,254 | — | — | |
| Due from Everli | 4 | — | — | — | |
| Prepaid expenses | 70,852 | 165,494 | — | — | |
| Total current assets | 4 | 1 | — | — | |
| Long-term prepaid insurance | — | 70,852 | — | — | |
| Marketable securities and cash held in Trust Account | 171 | 164 | 160 | — | |
| TOTAL ASSETS | 175 | 166 | — | — | |
| Accounts payable and accrued liabilities | 576,961 | 41,252 | — | — | |
| Sponsor Loan | 4 | — | — | — | |
| Total current liabilities | 4 | 41,252 | — | — | |
| Deferred underwriting fee | 7 | 7 | — | — | |
| TOTAL LIABILITIES | 11 | 7 | — | — | |
| COMMITMENTS AND CONTINGENCIES (Note 6) | — | — | — | — | |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding at December 31, 2025 and 2024 | — | — | — | — | |
| Additional paid-in capital | — | — | — | — | |
| Accumulated deficit | −7 | −6 | — | — | |
| TOTAL SHAREHOLDERS DEFICIT | −7 | −6 | — | — | |
| TOTAL LIABILITIES AND SHAREHOLDERS DEFICIT | 175 | 166 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 |
|---|---|---|
| Formation costs paid by Sponsor in exchange for issuance of Class B Ordinary Shares | — | |
| Payment of general and administrative costs through IPO Promissory Note related party | — | |
| Prepaid expenses | 165,494 | |
| Due from Sponsor | — | |
| Accounts payable and accrued expenses | 535,709 | |
| Net cash used in operating activities | −774,258 | |
| Investment of cash in Trust Account | — | |
| Payment of invoices on behalf of Everli | −3 | |
| Net cash used in investing activities | −3 | |
| Proceeds from sale of Units, net of underwriting discounts paid | — | |
| Proceeds from sale of Private Placements Warrants | — | |
| Repayment of IPO Promissory Note - related party | — | |
| Proceeds from Sponsor Loan | 3 | |
| Payment of offering costs | — | |
| Net cash provided by financing activities | 3 | |
| Net Change in Cash | −846,179 | |
| Deferred offering costs paid by Sponsor in exchange for issuance of Class B Ordinary Shares | — | |
| Deferred offering costs paid through IPO Promissory Note related party | — | |
| Deferred underwriting fee payable | — | |
| Over-allotment liability at Initial Public Offering date | — | |
| Forfeiture of Class B Ordinary Shares | — |