X3 Acquisition Corp. Ltd. (XCBE) is a blank check company formed for the purpose of completing a merger, capital stock exchange, asset acquisition, or similar business combination with one or more target businesses. The company raised $225,000,000 in gross proceeds through an IPO of 22,500,000 units at $10.00 per unit, including the partial exercise of an over-allotment option, with the IPO closing on January 22, 2026 and the over-allotment closing on January 26, 2026. An additional $5,375,000 was raised through the private placement of 5,375,000 private warrants to the sponsor at $1.00 per warrant. The total of $225,000,000 was placed into a trust account following the IPO. The company has 24 months from the IPO closing to consummate an initial business combination or it must redeem 100% of public shares and dissolve. As of December 31, 2025, the company held no cash and carried a working capital deficit of $280,425. The company is incorporated in the Cayman Islands and headquartered at 3033 Excelsior Blvd, Suite 343, Minneapolis, MN 55416. The sponsor is controlled by Andrew J. Redleaf.

Revenue model

X3 Acquisition Corp. has no operating revenue. The company is pre-combination and holds IPO proceeds in a trust account. Interest earned on trust assets is its only income source prior to an initial business combination.

Products and services

The company's sole activity is identifying and completing an initial business combination. It issued Class A and Class B ordinary shares and public and private warrants, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share.

Customers and end markets

The company has no customers or commercial end markets. Its counterparties are IPO investors holding Class A ordinary shares and the sponsor holding Class B ordinary shares and private warrants.

Value-chain role

Special purpose acquisition company (SPAC). Raises capital from public investors via IPO, holds proceeds in trust, and seeks a target business for an acquisition or merger transaction.

Geographic exposure

Incorporated in the Cayman Islands. Principal offices in Minneapolis, MN. No disclosed geographic focus for a target acquisition as of the 10-K filed 2026-03-25.

Source: SEC 10-K, filed 2026-03-25

Industry: Blank Checks