Centurion Acquisition Corp.

What they do

The company was incorporated on January 18, 2024 as a Cayman Islands exempted company for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It has neither engaged in any operations nor generated any revenue to date, and is a shell company under the Exchange Act with nominal assets consisting almost entirely of cash. It may pursue an acquisition opportunity in any industry, sector or geographic location. As of June 16, 2026, approximately $54 million remained in the Trust Account after redemptions.

Revenue drivers

• Trust Account interest income — IPO proceeds of $287,500,000 were placed in the Trust Account, held as cash or invested in U.S. government treasury obligations with maturities of 185 days or less or in qualifying money market funds. Interest earned may be released to the company to pay taxes.
• Sponsor capital contribution — On January 23, 2024 the Sponsor contributed $25,000, or approximately $0.004 per share, to cover certain expenses in exchange for 5,750,000 Founder Shares.
• Private Placement Warrants — Simultaneous with the IPO close, 7,000,000 Private Placement Warrants were sold at $1.00 each, generating gross proceeds of $7,000,000; the Sponsor purchased 4,500,000, Cantor 1,750,000 and Odeon 750,000.

Recent performance

Annual net income was $7.8 million in 2024 and $11.7 million in 2025. Operating cash flow was negative $165,249 in 2024 and negative $564,445 in 2025. At June 30, 2026, total assets were $54.1 million, total liabilities were $14.1 million, shareholder equity was negative $14.0 million, and cash and equivalents were $1,853. On June 12, 2026, shareholders approved an extension of the business combination deadline from June 12, 2026 to June 12, 2027. In connection with that meeting, 23,802,843 Class A Ordinary Shares were redeemed for approximately $259.3 million, or approximately $10.89 per share, leaving approximately $54 million in the Trust Account as of June 16, 2026.

Strategy

The company's stated purpose is to complete an initial business combination using cash from the IPO and Private Placement Warrants proceeds, its shares, debt, or a combination of these. It has reviewed and continues to review a number of opportunities but cannot determine at this time whether it will complete a combination with any reviewed target or any other target. On June 12, 2026 shareholders approved extending the deadline to complete an initial business combination to June 12, 2027. In connection with the June 2026 extraordinary general meeting, the company and the Sponsor entered into Non-Redemption Agreements with certain shareholders covering an aggregate of 4,674,999 Class A Ordinary Shares. Under those agreements, the Sponsor agreed to transfer 1,558,332 Class A Ordinary Shares held by it to those investors promptly following the closing of an initial business combination, subject to conditions.

Risks

• Inability to complete a business combination — The company has no operations or revenue and may not complete a business combination with any reviewed target or any other target before the extended deadline.
• Redemption-driven reduction in trust funds — 23,802,843 Class A Ordinary Shares were redeemed in June 2026 for approximately $259.3 million, leaving approximately $54 million in the Trust Account as of June 16, 2026.
• Founder Share voting control — Initial shareholders own 20% of outstanding ordinary shares and will participate in any shareholder vote on an initial business combination, so a combination may be completed even if a majority of Public Shareholders do not support it.
• Negative shareholder equity and limited cash — At June 30, 2026, shareholder equity was negative $14.0 million and cash and equivalents were $1,853, while operating cash flow was negative $564,445 in 2025.

Outlook

Management states it expects to continue to incur significant costs in the pursuit of its acquisition plans and cannot assure that its plans to complete a business combination will be successful. The company has until June 12, 2027 to consummate an initial business combination, or such earlier date as its board of directors may determine and announce. It may pursue an acquisition opportunity in any industry, sector or geographic location. Approximately $54 million remained in the Trust Account as of June 16, 2026 following the June 2026 redemptions.