ClimateRock SEC 10-Q Report

ClimateRock, a Cayman Islands exempted company focused on climate change, environment, renewable energy, and emerging clean technologies, has released its Form 10-Q report for the quarter ended June 30, 2025. The report provides a comprehensive overview of the company's financial performance and operational status, highlighting key metrics and future outlook.

Financial Highlights

Net Loss: ClimateRock reported a net loss of $(172,412) for the three months ended June 30, 2025, reflecting a decrease from the previous year's net loss of $(254,323). For the six months ended June 30, 2025, the net loss was $(357,450), showing an improvement from $(581,834) in the previous year.

Basic and Diluted Net Income (Loss) Per Share for Redeemable Ordinary Shares: The company reported $0.14 per share for the three months ended June 30, 2025, indicating a positive return compared to $0.04 in the previous year. For the six months ended June 30, 2025, the figure was $0.14 per share, compared to $0.08 in the previous year.

Basic and Diluted Net Income (Loss) Per Share for Non-redeemable Ordinary Shares: The company reported $(0.16) per share for the three months ended June 30, 2025, compared to $(0.17) in the previous year. For the six months ended June 30, 2025, the figure was $(0.29) per share, compared to $(0.37) in the previous year.

Business Highlights

Business Overview: ClimateRock is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company focuses on opportunities in climate change, environment, renewable energy, and emerging clean technologies.

Operational Status: As of June 30, 2025, ClimateRock had not yet commenced operations. All activities to date have been related to the company's formation, the initial public offering, and post-offering activities in search of a target to consummate a business combination.

IPO and Trust Account: The company completed its Initial Public Offering on May 2, 2022, raising gross proceeds of $78.75 million. The proceeds were placed in a trust account to be used for a future business combination.

Business Combination Efforts: ClimateRock has been actively seeking a business combination target. The company entered into a Business Combination Agreement with GreenRock Corp. on December 30, 2023, which was later amended to adjust terms such as the minimum cash closing condition and merger consideration.

Nasdaq Delisting: On April 8, 2025, ClimateRock received notice from Nasdaq that its securities would be delisted due to failure to comply with the Public Holders Requirement. Trading was suspended on April 10, 2025, and the company's securities are now quoted on the Pink tier of the OTC Markets Group.

Future Outlook: The company has extended its deadline to consummate a business combination to November 2, 2025. Management is focused on securing additional funding and completing a business combination within this timeframe.

Going Concern: As of June 30, 2025, ClimateRock has a working capital deficit and has incurred significant costs in pursuit of its acquisition plans. These conditions raise substantial doubt about the company's ability to continue as a going concern.

Management's Strategy: Management has broad discretion with respect to the application of net proceeds from the IPO and is focused on completing a business combination that aligns with its strategic focus on climate change and renewable energy sectors.

SEC Filing: ClimateRock [ CLRCF ] - 10-Q - Sep. 25, 2025