Spark I Acquisition Corp
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Spark I Acquisition Corp AI Insights
Informational only. Not investment advice.Snapshot
- Zero revenue SPAC with -2.8M operating loss TTM; 614K cash vs 3.2M current debt creates liquidity pressure[Cash and Equivalents]
- 84.1M financing outflow TTM signals trust redemptions; working capital at -3.2M indicates near-term funding gap[Working Capital]
- Net income positive (1.0M TTM) only from 391K securities gains and trust interest - not operational[Gain on Sale of Security]
Watch Triggers
- Cash and Equivalents: Falls below 300K or debt refinancing announced — At current burn, 614K cash depletes in months without extension or deal
- Cash Flow from Continuing Financing Activities: Additional outflows exceeding 5M — Further redemptions would signal investor exodus before deadline
- Total Equity: Drops below 15M — Shrinking equity base limits deal size and sponsor economics
Bull Case
18.1M equity with 0.18 debt/equity provides modest cushion; ROE of 1.7% TTM positive vs -6.6% industry mean
Tangible book of 18.1M with no goodwill means liquidation value is real if deal fails
Bear Case
614K cash covers only ~3 months of 2.8M annual opex burn; current liabilities (3.8M) exceed current assets (639K) by 6x
84.1M financing outflow suggests massive trust redemptions; remaining equity may be insufficient for viable deal
Bull vs Bear Balance
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Forward Thesis
SPAC likely faces deadline pressure with depleted cash and no announced target
- 614K cash vs 3.2M current debt due
- 84.1M financing outflows indicate redemptions
- Zero revenue with -2.6M FCF burn
Valuation Context
Caveats
Public Strategies Rankings
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SPKL Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$97.86M | — | ||
$100.99M | — | ||
568 | — | ||
$0 | — | ||
$0.02 | — | ||
0% | — | ||
0% | — | ||
$-2.46M | — | ||
0.49% | -2.6% | — | |
Beta 5Y (Monthly) | unknown | — |
SPKL Dividend History
SPKL Stock Splits
SPKL SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/30/26 | 12/31/25 | Unknown | |
11/14/25 | 09/30/25 | 10-Q | |
08/12/25 | 06/30/25 | 10-Q | |
05/13/25 | 03/31/25 | 10-Q | |
03/30/26 | 12/31/24 | 10-K | |
03/21/25 | 12/31/24 | Unknown | |
11/12/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/10/24 | 03/31/24 | 10-Q | |
03/21/25 | 12/31/23 | 10-K | |
04/03/24 | 12/31/23 | 10-K | |
11/15/23 | 09/30/23 | 10-Q | |
09/15/23 | 06/30/23 | S-1/A | |
07/07/23 | 03/31/23 | S-1 | |
07/07/23 | 12/31/22 | S-1 | |
11/15/23 | 09/30/22 | 10-Q | |
06/30/22 | 06/30/22 | Unknown | -- |
07/07/23 | 03/31/22 | S-1 |