Activate Energy Acquisition Corp. filed its Form 10-Q for the quarter ended September 30, 2026, with the SEC on November 12, 2026, reporting net income of $1,992,784 for the three-month period driven by interest earned on its Trust Account.

Key Highlights

  • Trust Account balance: Investments held in Trust Account totaled $236,786,580 as of September 30, 2026, up from $230,556,356 at December 31, 2025.
  • Q3 net income: The company reported net income of $1,992,784 for the three months ended September 30, 2026, compared to a net loss of $26,162 in the same period of 2025.
  • Trust interest income: Interest earned on the Trust Account was $6,230,224 for the nine months ended September 30, 2026.
  • Shares outstanding: As of November 9, 2026, there were 23,645,000 Class A ordinary shares and 7,666,667 Class B ordinary shares outstanding.
  • Redemption value: Class A ordinary shares subject to possible redemption were carried at $10.30 per share as of September 30, 2026, versus $10.02 per share at December 31, 2025.
  • Shareholders' deficit: Total shareholders' deficit was $(7,660,738) as of September 30, 2026, compared to $(7,022,109) at December 31, 2025.
  • Deferred underwriting fee: A deferred underwriting fee of $8,050,000 remained recorded as a liability as of September 30, 2026.

Activate Energy Acquisition Corp. Financial Position as of September 30, 2026

According to the filing, Activate Energy Acquisition Corp. (NASDAQ:AEAQ), a Cayman Islands-incorporated blank check company, reported total assets of $237,409,225 as of September 30, 2026, with the vast majority held in its Trust Account. Cash and cash equivalents stood at $301,404 at the period end, down from $738,076 at December 31, 2025. The company also reported prepaid expenses of $288,741 and long-term prepaid expenses of $32,500.

For the three months ended September 30, 2026, the company disclosed general and administrative costs of $151,235, resulting in a loss from operations of $151,235. Interest earned on investments held in the Trust Account of $2,144,019 more than offset that operating loss, producing net income of $1,992,784 for the quarter. For the nine months ended September 30, 2026, net income totaled $5,591,595, with general and administrative costs of $638,629 and Trust Account interest of $6,230,224. Basic and diluted net income per share for both Class A and Class B ordinary shares was $0.18 for the nine-month period and $0.06 for the three-month period, according to the filing.

The company disclosed that 23,000,000 Class A ordinary shares remained subject to possible redemption, carried at a redemption value of $10.30 per share as of September 30, 2026. An additional 645,000 Class A ordinary shares were issued and outstanding but excluded from the redemption pool. The accumulated deficit stood at $(7,661,570) as of September 30, 2026. The filing identifies the company as a shell company, a smaller reporting company, and an emerging growth company, incorporated in the Cayman Islands with principal offices in Grand Cayman.

What Was Disclosed

Activate Energy Acquisition Corp. filed its quarterly report covering the period ended September 30, 2026, disclosing Trust Account balances, share counts, per-share redemption values, net income driven by Trust interest, and an ongoing shareholders' deficit, with a deferred underwriting fee of $8,050,000 remaining on the balance sheet.