TCGX Acquisition Corp. filed its first quarterly report on Form 10-Q with the SEC on November 9, 2026, covering the three months ended September 30, 2026, and the period from inception (May 26, 2026) through that date.

Key Highlights

  • Trust Account: Cash held in trust stood at $86,733,311 as of September 30, 2026, reflecting the deposit of $86,250,000 from the IPO proceeds.
  • Shares Outstanding: As of November 9, 2026, there were 9,147,500 Class A ordinary shares and 2,156,250 Class B ordinary shares issued and outstanding.
  • Redemption Value: 8,625,000 Class A ordinary shares were subject to possible redemption at $10.06 per share as of September 30, 2026.
  • Net Income (Q3): The company reported net income of $24,176 for the three months ended September 30, 2026, driven by $483,311 of interest earned on the Trust Account offsetting $459,135 in general and administrative costs.
  • Inception-to-Date Net Loss: From May 26, 2026 (inception) through September 30, 2026, the company reported a net loss of $43,438.
  • Over-Allotment Exercised: On August 6, 2026, the underwriters exercised their over-allotment option in full as part of the closing of the Initial Public Offering, eliminating forfeiture risk on 281,250 Founder Shares.
  • Shareholders' Deficit: Total shareholders' deficit was $(1,113,803) as of September 30, 2026, with accumulated deficit of $(1,114,071).

TCGX Acquisition Corp. Financial Position Following August 2026 IPO Closing

According to the filing, TCGX Acquisition Corp. (NASDAQ:TCGX) was incorporated in the Cayman Islands on May 26, 2026, and completed its Initial Public Offering on August 6, 2026, the same date on which the underwriters exercised their over-allotment option in full. The company is headquartered at 245 Lytton Ave., Suite 350, Palo Alto, CA 94301. The filing identifies the registrant as a shell company and an emerging growth company classified as a smaller reporting company and non-accelerated filer.

As of September 30, 2026, the company reported total assets of $89,718,487, including $2,672,345 in cash and $86,733,311 held in a Trust Account. Total liabilities were $4,098,979, which included a deferred underwriting fee of $3,450,000, accounts payable and accrued expenses of $295,977, a promissory note payable to a related party of $214,844, accrued offering costs of $105,926, and an amount due to a related party of $32,232. The filing disclosed that 522,500 Private Placement Shares were sold for proceeds of $5,225,000, and that transaction costs allocated to those shares totaled $37,816.

For the three months ended September 30, 2026, the company disclosed general and administrative costs of $459,135, offset by $483,311 in interest earned on the Trust Account, resulting in net income of $24,176. For the full inception-to-date period, general and administrative costs were $526,749 against the same $483,311 of interest income, producing a net loss of $43,438. Net cash used in operating activities for the inception-to-date period was $(365,569), and net cash used in investing activities was $(86,250,000), reflecting the investment of IPO proceeds into the Trust Account.

What Was Disclosed

TCGX Acquisition Corp. filed its inaugural 10-Q covering operations from its May 26, 2026 inception through September 30, 2026, reporting a Trust Account balance of $86,733,311, a quarterly net income of $24,176, and a total shareholders' deficit of $(1,113,803).