White Pearl Acquisition Corp. filed its quarterly report on Form 10-Q with the SEC on November 6, 2026, covering the quarter ended September 30, 2026, its first full quarterly period following its January 2026 initial public offering.

Key Highlights

  • Trust Account balance: Investments held in the Trust Account totaled $117,716,580 as of September 30, 2026, compared to zero at December 31, 2025.
  • Total assets: The company reported total assets of $119,242,789 as of September 30, 2026, up from $106,812 at December 31, 2025.
  • Shares outstanding: As of November 6, 2026, 11,833,125 Class A ordinary shares and 3,833,333 Class B ordinary shares were issued and outstanding.
  • Shares subject to possible redemption: 11,500,000 Class A ordinary shares, carried at $117,716,580, were classified as subject to possible redemption as of September 30, 2026.
  • Retained earnings: Shareholders' equity included retained earnings of $1,203,465 as of September 30, 2026, compared to an accumulated deficit of $58,311 at December 31, 2025.
  • Over-allotment exercised: The underwriters' representative exercised its full over-allotment option to purchase 1,500,000 units on February 3, 2026, resulting in no founder shares subject to forfeiture.
  • Related-party liabilities: Accrued administrative services fee to a related party was $80,000, and a promissory note to a related party stood at $170,551 as of September 30, 2026.

White Pearl Acquisition Corp. Reports First Post-IPO Quarter Balance Sheet

White Pearl Acquisition Corp. (NYSE:WPAC), a blank check company incorporated in the British Virgin Islands with principal offices at 244 Fifth Avenue, Suite #1835, New York, NY, filed its Form 10-Q for the quarter ended September 30, 2026. According to the filing, the company completed its initial public offering in early 2026, with a final prospectus filed with the SEC on January 30, 2026. The underwriters' representative exercised the full over-allotment option to purchase 1,500,000 units on February 3, 2026, the filing disclosed.

The condensed balance sheet shows that the company held $1,425,090 in cash and $117,716,580 in investments in the Trust Account as of September 30, 2026. Total liabilities were $322,744, consisting of other payables of $72,193, an accrued administrative services fee to a related party of $80,000, and a promissory note to a related party of $170,551. At December 31, 2025, the company had no Trust Account assets, reflecting its pre-IPO status at that date.

The filing describes a series of founder share transactions: on June 27, 2025, 1,437,500 Class B ordinary shares were issued to the Sponsor for $25,000; on November 25, 2025, 1,916,667 Class B shares were issued for $25,000 and the original 1,437,500 shares were repurchased for $25,000; on January 14, 2026, 3,833,333 Class B shares were issued for $25,000 and the prior 1,916,667 shares were repurchased for $25,000, leaving 3,833,333 Class B shares outstanding. The company disclosed it is classified as a smaller reporting company, non-accelerated filer, and emerging growth company, and confirmed its status as a shell company.

What Was Disclosed

White Pearl Acquisition Corp. disclosed its unaudited condensed balance sheet and related financial data for the quarter ended September 30, 2026, its first post-IPO quarterly filing, showing $117,716,580 in trust assets, $322,744 in total liabilities, and 11,500,000 Class A shares subject to possible redemption.