Inception Growth Acquisition Ltd (OTC: IGTA) is a special purpose acquisition company (SPAC) that raised capital through an IPO with the intent to merge with or acquire a private operating business. The company generates no operating revenue. Its capital, approximately $104.5 million raised at IPO closing on December 13, 2021, was deposited into a Trust Account held for public stockholders pending completion of an initial business combination. IGTA was listed on the Nasdaq Capital Market until December 17, 2024, when its securities moved to OTC Markets under the symbols IGTA, IGTAU, IGTAW, and IGTAR. The company's auditor has issued a going concern opinion, citing a significant working capital deficiency and accumulated deficit as of the 10-K filed April 15, 2026. The deadline to complete a business combination has been extended multiple times and stood at February 13, 2026 under the most recent stockholder-approved extension framework. IGTA targets acquisitions in TMT, sports and entertainment, and gaming (non-gambling) industries in the United States and Asia, excluding China, Hong Kong, and Macau.

Revenue model

No operating revenue. The company earns interest on Trust Account holdings pending a business combination. An affiliate of the Sponsor receives $10,000 per month for office space, utilities, and administrative support, which is an expense, not a revenue stream. If no business combination is completed, public shares are redeemed at a pro rata share of Trust Account funds.

Products and services

IGTA offers no commercial products or services. Its securities include common shares, warrants, and rights traded on OTC Markets (as of December 17, 2024) under symbols IGTA, IGTAW, and IGTAR. The IPO included units comprising shares, warrants, and rights entitling holders to one-tenth of a share of common stock.

Customers and end markets

Target acquisition industries include TMT (technology, media, telecommunications), sports and entertainment, and gaming (non-gambling) in the United States and Asia excluding China, Hong Kong, and Macau. No operating customers. Public stockholders hold redeemable shares backed by Trust Account proceeds.

Value-chain role

SPAC sponsor and acquirer. The management team, including CFO Felix Yun Pun Wong, focuses on identifying, evaluating, and executing a business combination with a private operating company. The company plays no role in any operating value chain prior to completing an acquisition.

Geographic exposure

Target acquisition geography is the United States and Asia, explicitly excluding China, Hong Kong, and Macau, per the 10-K filed April 15, 2026.

Source: SEC 10-K, filed 2026-04-15

Industry: Blank Checks