Paloma Acquisition Corp I (PALO) is a blank-check special purpose acquisition company (SPAC) incorporated as a Cayman Islands exempted company that raised capital through an initial public offering to identify and complete a business combination with an operating target. The company generates no operating revenue. Income consists of interest earned on marketable securities held in a trust account funded by IPO proceeds. On February 20, 2026, Paloma consummated its IPO of 15,000,000 units at $10.00 per unit, raising gross proceeds of $150,000,000, and simultaneously sold 500,000 private placement units at $10.00 per unit for an additional $5,000,000 in proceeds. The sponsor is Paloma Capital Group LLC. As of March 31, 2026, the trust account holds marketable securities and the company carries a deferred underwriting fee payable and an accumulated shareholders' deficit. No business combination had closed as of the filing date of May 15, 2026.

Revenue model

No operating revenue. Income is limited to interest earned on marketable securities held in the trust account, funded by the $150,000,000 IPO proceeds (Q1 2026, 10-Q filed 2026-05-15).

Products and services

Units comprising Class A ordinary shares and warrants, sold at $10.00 per unit in the IPO (February 20, 2026). Private placement units sold to the sponsor at $10.00 per unit. Warrants are exercisable at $11.50 per Class A ordinary share. Working capital loans from the sponsor, if extended, may convert into private placement-equivalent units at $10.00 per unit.

Customers and end markets

Public investors who purchased IPO units. The ultimate end market depends on the target selected for the business combination, which had not been identified or completed as of the 10-Q filing date of May 15, 2026.

Value-chain role

Blank-check acquisition vehicle. Raises capital from public markets, holds proceeds in a trust account, and seeks to merge with or acquire an unspecified private operating business.

Geographic exposure

Incorporated in the Cayman Islands. Listed on The Stock Market LLC (Nasdaq). No operating geographic footprint disclosed as of the 10-Q filed 2026-05-15.

Source: SEC 10-Q, filed 2026-05-15

Industry: Blank Checks