United Acquisition Corp. I

What they do

United Acquisition Corp. I is a Cayman Islands exempted company formed in October 2025 to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. It has no operations and has not generated any revenues. Management intends to focus on private companies that would benefit from public listing and partnership with its team.

Revenue drivers

• Interest income on trust account — The company earns interest on marketable securities held in its trust account. For the six months ended June 30, 2026, interest earned was $1,480,859.
• Change in over-allotment liability — A non-operating gain recognized due to the partial exercise of the over-allotment option, contributing $82,463 to net income for the six-month period.

Recent performance

For the three months ended June 30, 2026, the company reported net income of $691,371, driven by interest income of $905,837 and general and administrative expenses of $214,466. For the six months ended June 30, 2026, net income was $1,051,344, with interest income of $1,480,859 and a change in over-allotment liability of $82,463, offset by general and administrative expenses of $511,978. As of June 30, 2026, the company had cash of $1,963,796 and working capital of $1,864,388. Total assets were $105.5 million and total liabilities were $3.8 million, with shareholder equity of negative $1.6 million.

Strategy

The company intends to use proceeds from its IPO and private placements to complete a business combination. It plans to source targets from private companies that could benefit from public listing and partnership with its management team. Management has experience from a prior SPAC, Globis Acquisition Corp., which completed a business combination with Forafric Global Plc. The company may use cash, shares, debt, or a combination to fund the transaction.

Risks

• Inability to consummate business combination — The company has a 24-month completion window from the IPO closing (January 30, 2026) to complete an initial business combination, and if it fails, it may be forced to liquidate.
• No shareholder vote required — The company may complete a business combination without a shareholder vote if not required by Cayman Islands law or NYSE rules, allowing a deal to proceed even if most public shareholders oppose it.
• Negative shareholder equity — As of June 30, 2026, shareholder equity was negative $1.6 million, which may indicate financial constraints.
• Limited operating history — The company has no operations or revenues, and its success depends entirely on identifying and completing a suitable business combination.

Outlook

Management expects to continue incurring significant costs in pursuing acquisition plans. It does not expect to generate operating revenues until after the completion of a business combination. The company will continue to evaluate potential target businesses and may use its trust account proceeds to fund the transaction.