Idea Acquisition Corp. filed its Form 10-Q for the quarter ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, reporting financial results for the three and nine months ended September 30, 2026.

Key Highlights

  • Trust Account balance: Cash and marketable securities held in Trust Account totaled $357,872,663 as of September 30, 2026, compared to $0 at December 31, 2025, according to the filing.
  • Class A redemption value: 35,000,000 Class A ordinary shares were subject to possible redemption at $10.22 per share as of September 30, 2026, the filing disclosed.
  • Quarterly net income: The company reported net income of $3,047,174 for the three months ended September 30, 2026, driven by $3,201,227 in interest earned on marketable securities held in the Trust Account.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $1,492,288, after recording share-based compensation expense of $6,182,319 in that period.
  • Founder Share forfeiture: On March 27, 2026, the underwriters' over-allotment option expired unexercised, resulting in the forfeiture of 1,312,500 Class B ordinary shares (Founder Shares).
  • Shareholders' deficit: Total shareholders' deficit was $(13,211,515) as of September 30, 2026, compared to $(23,912) at December 31, 2025, with accumulated deficit of $(13,212,390).
  • Deferred underwriting fee: A deferred underwriting fee payable of $14,000,000 was recorded as of September 30, 2026, the filing stated.

Idea Acquisition Corp. Q3 2026: Trust Account Growth and Founder Share Forfeiture

According to the filing, Idea Acquisition Corp. (NASDAQ:IACO) is a blank check company incorporated in the Cayman Islands with its principal offices in Los Angeles, California. As of November 13, 2026, the company reported 35,000,000 Class A ordinary shares and 8,750,000 Class B ordinary shares issued and outstanding. The registrant identified itself as a non-accelerated filer, smaller reporting company, and emerging growth company, and confirmed its status as a shell company.

For the three months ended September 30, 2026, the filing reported general and administrative costs of $154,053 and interest earned on marketable securities held in the Trust Account of $3,201,227, producing net income of $3,047,174. For the nine months ended September 30, 2026, general and administrative costs totaled $524,756 and share-based compensation expense was $6,182,319, resulting in a loss from operations of $(6,707,075). Total other income for the nine-month period was $8,199,363, which included $7,872,663 in trust interest and a $326,700 change in overallotment liability, yielding nine-month net income of $1,492,288.

The balance sheet as of September 30, 2026 showed total assets of $359,144,811, including cash and cash equivalents of $1,100,964 and the Trust Account balance of $357,872,663. Total liabilities were $14,483,663, including a deferred underwriting fee payable of $14,000,000 and a promissory note to a related party of $250,689. The Class A ordinary shares subject to possible redemption were carried at $357,872,663, reflecting the $10.22 per share redemption value. During the period, 1,312,500 Founder Shares were forfeited following the expiration of the underwriters' over-allotment option on March 27, 2026.

What Was Disclosed

Idea Acquisition Corp. filed its quarterly report covering the period ended September 30, 2026, disclosing a Trust Account of $357,872,663, a redemption value of $10.22 per Class A share, forfeiture of 1,312,500 Founder Shares, a deferred underwriting fee of $14,000,000, and nine-month net income of $1,492,288.