K2 Capital Acquisition Corp. filed its Form 10-Q for the quarter ended September 30, 2026, with the SEC on November 13, 2026, reporting financial results following the closing of its Initial Public Offering earlier in the year.

Key Highlights

  • Trust Account balance: Investments held in the Trust Account totaled $141,287,300 as of September 30, 2026, compared to $0 at December 31, 2025.
  • Net income for nine months: The company reported net income of $2,376,822 for the nine months ended September 30, 2026, driven by $3,287,300 in interest earned on Trust Account investments.
  • Q3 net income: Net income for the three months ended September 30, 2026 was $1,090,858, with general and administrative expenses of $188,449.
  • Shares outstanding: As of November 13, 2026, there were 14,126,875 Class A ordinary shares and 5,914,286 Class B ordinary shares issued and outstanding.
  • Redemption value: 13,800,000 Class A ordinary shares were subject to possible redemption at $10.24 per share as of September 30, 2026.
  • Over-allotment exercised in full: On January 30, 2026, underwriters exercised their over-allotment option in full as part of the IPO closing, releasing 771,429 Founder Shares from potential forfeiture.
  • Shell company status: The registrant indicated it is a shell company as defined under Rule 12b-2 of the Exchange Act.

K2 Capital Acquisition Corp. Post-IPO Financial Position Through September 30, 2026

According to the filing, K2 Capital Acquisition Corp. (NASDAQ:KTWOU, NASDAQ:KTWO, NASDAQ:KTWOR) completed its Initial Public Offering and had $141,287,300 held in its Trust Account as of September 30, 2026. Total assets grew to $142,205,022 from $754,679 at December 31, 2025, reflecting the proceeds raised in the IPO. Cash on hand was reported at $771,449, and total liabilities stood at $397,351, consisting primarily of accounts payable and accrued expenses of $322,351 and accrued offering costs of $75,000.

The company disclosed that on January 29, 2026, it issued an additional 985,715 Founder Shares to the Sponsor through a share capitalization, bringing the Sponsor's aggregate Founder Share holdings to 5,914,286 Class B ordinary shares. All share and per-share data were retrospectively presented to reflect this adjustment, according to the filing. General and administrative expenses for the nine months ended September 30, 2026 totaled $910,478, resulting in a loss from operations of $910,478 for that period. That operating loss was more than offset by $3,287,300 in interest earned on Trust Account investments, yielding net income of $2,376,822 for the nine-month period.

The filing reports shareholders' equity of $520,371 at September 30, 2026, a turnaround from a shareholders' deficit of $72,057 at December 31, 2025. Retained earnings were $519,747 at quarter end. The company described itself as a non-accelerated filer, smaller reporting company, and emerging growth company. It is incorporated in the Cayman Islands with principal offices at 244 Fifth Avenue, Suite #1833, New York, NY 10001, according to the filing.

What Was Disclosed

K2 Capital Acquisition Corp. disclosed its unaudited condensed financial statements for the quarter and nine months ended September 30, 2026, including Trust Account balances, IPO-related share activity, operating results, and balance sheet details following its IPO closing in early 2026.