Papaya Growth Opportunity Corp. I
Papaya Growth Opportunity Corp. I filed its 10-K for FY2025, reporting a net loss of $1,960,482 versus $1,409,260 in 2024. The company has never generated revenue and remains a blank-check shell. Its trust account fell from $8,038,974 at end-2024 to $323,893 at end-2025, and further to ~$308,000 as of September 30, 2026 after redemptions of 61,828 public shares at ~$11.46 each. The combination deadline was extended to December 19, 2026.
- Net loss widened to $1,960,482 in FY2025 from $1,409,260 in FY2024.
- Trust account fell to $323,893 at end-2025 from $8,038,974 at end-2024.
- Only 28,222 public shares remain outstanding after 61,828 shares redeemed at ~$11.46.
- Company has never generated revenue and is a shell company.
- Combination deadline extended to December 19, 2026 via November Charter Amendment.
Price data unavailable.
A nearly empty trust and looming December 2026 deadline make this SPAC a liquidation-risk story for remaining holders.
This is a distressed SPAC nearing the end of its life with a nearly depleted trust, a common late-stage blank-check pattern as redemptions drain capital.
Company may fail to complete a business combination by the deadline, forcing liquidation; securities are no longer listed on Nasdaq, limiting liquidity.