Invest Acquisition Corp

Invest Acquisition Corp, a Cayman Islands SPAC formerly known as Investcorp Europe Acquisition Corp I, filed its FY2024 10-K. The company reported net income of $36.97M for the year, overwhelmingly driven by a $30M gain on termination of the Zacco Holdings (OpSec/Orca) business combination agreement. The trust account held $23.5M at year-end, down from $127.7M at end-2023, following shareholder redemptions and deal termination. The company also revised its FY2023 financials to correct a $385,877 understatement of expenses and accrued expenses, increasing the prior-year net loss to $4.80M.

Price data unavailable.

A SPAC with a once-$352M trust now holds just $23.5M, survives on sponsor loans, and booked a $30M termination gain as its primary FY2024 income — a case study in post-deal SPAC atrophy.

This SPAC has survived multiple extensions and a failed $30M-termination deal, joining a wave of post-2021 SPACs that have liquidated trust accounts through redemptions and struggled to close combinations. The OTC Bulletin Board listing (not NYSE/NASDAQ) further signals diminished institutional and

The company is a shell with no operations or revenue, only $242,474 cash outside the trust, and has drawn ~$7.4M in working capital loans from sponsor affiliates. The trust account has shrunk from $351.9M at IPO to $23.5M, severely limiting deal capacity. The prior business combination with Zacco/Or