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CAPNU

Cayson Acquisition Corp

CAPNU

Cayson Acquisition Corp • NASDAQ
$10.40 ▲ 0.00% (+0.00)
Market Cap $83.10 M
52w High $11.31
52w Low $10.09
Dividend Yield 0%
P/E 0
Volume 100
Outstanding Shares 7.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $415.606K ▲ 0% $0.05 ▲ $0 ▲
Q2-2025 $0 $259.113K ▲ $383.558K ▼ 0% $0.049 ▼ $-259.113K ▼
Q1-2025 $0 $235.799K ▲ $404.677K ▼ 0% $0.052 ▼ $-236K ▼
Q4-2024 $0 $133.748K ▲ $566.686K ▲ 0% $0.22 ▲ $700.434K ▲
Q3-2024 $0 $87.519K $-31.278K 0% $-0.017 $-87.519K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $87.898K ▼ $63.493M ▲ $2.798M ▲ $-2.582M ▼
Q2-2025 $183.418K ▼ $62.363M ▲ $2.211M ▼ $60.153M ▲
Q1-2025 $315.185K ▼ $61.878M ▲ $2.263M ▲ $59.615M ▲
Q4-2024 $465.254K ▼ $61.413M ▲ $2.203M ▲ $59.21M ▲
Q3-2024 $575.87K $60.838M $2.194M $58.643M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $415.606K ▲ $0 $-600K ▼ $600K ▲ $-95.52K ▲ $0
Q2-2025 $383.558K ▼ $0 $0 $0 $-131.767K ▲ $0
Q1-2025 $404.677K ▲ $0 ▲ $0 ▲ $0 ▼ $-150.069K ▼ $0 ▲
Q4-2024 $566.686 ▲ $-110 ▲ $-42.857K ▲ $43.453K ▼ $465.254 ▼ $-110 ▲
Q3-2024 $-31.278 $-258.602K $-60M $60.834M $575.87K $-258.6K

Five-Year Company Overview

Income Statement

Income Statement Cayson Acquisition Corp is still essentially an empty shell, so its income statement tells very little about an ongoing business. There is no real revenue and no operating activity to analyze, which is typical for a SPAC. Any small profit per share likely reflects interest on funds held in trust or accounting effects from warrants, not a recurring business model. Until the Mango Financial merger closes and combined financials are reported, the income statement is more of a formality than a window into performance.

Balance Sheet

Balance Sheet The balance sheet is very light and simple, again consistent with a SPAC. Assets are mostly the cash or cash-like holdings raised from investors and placed in trust, with very few operating assets like equipment, receivables, or intangibles. There is effectively no traditional debt and only a thin layer of equity at the SPAC level. The real economic substance will come from Mango Financial’s balance sheet once the merger is completed, including its licenses, client relationships, and any digital asset exposures it builds over time.

Cash Flow

Cash Flow Cash flows at this stage are driven by the SPAC structure rather than a functioning business. Operating cash flow is minimal because there is no active revenue-generating operation; expenses mainly relate to professional fees and deal costs. Capital spending is essentially non‑existent. Most of the cash sits idle in trust waiting for either a merger or a potential return to shareholders. After closing with Mango Financial, cash flows will depend heavily on how quickly the combined company ramps its digital asset services and manages regulatory and market risks.

Competitive Edge

Competitive Edge On its own, Cayson has no meaningful competitive position; it is simply a listed vehicle. The competitive story belongs to Mango Financial, the merger partner. Mango brings a long operating history in Hong Kong, a suite of regulatory licenses covering securities dealing, advisory, corporate finance, and asset management, and experience in bringing companies to market. Its planned pivot into regulated digital asset services—combining traditional investment banking with crypto‑related products—could set it apart from both conventional brokers and unregulated crypto platforms. However, this is an emerging, crowded, and highly regulated field, so execution and regulatory approvals will be critical to sustaining any edge.

Innovation and R&D

Innovation and R&D Cayson itself does not conduct R&D or develop products; its innovation lies in selecting a merger target. The innovative aspect comes from Mango Financial’s strategy. Mango aims to bridge traditional finance and digital assets by integrating cryptocurrencies into its operations, exploring blockchain uses for payments and settlements, and preparing offerings like security token issuances and tokenized real‑world assets. It is also seeking regulatory approvals to provide licensed virtual asset trading and fund management services. If executed well, this blend of regulated status, digital asset capabilities, and long-standing advisory experience could be a meaningful differentiator, but it also exposes the firm to fast-changing technology, regulatory shifts, and the volatility of the crypto market.

Summary

Cayson Acquisition Corp is currently a financial shell with almost no operating history, which is normal for a SPAC. Its current financial statements mainly reflect cash held for a deal rather than an active business. The real story is the planned merger with Mango Financial in Hong Kong. Post‑merger, the combined entity will rest on Mango’s decades-long presence in traditional finance, broad regulatory licenses, and a deliberate push into regulated digital asset services. This creates both opportunity and risk: opportunity in being an early, licensed bridge between conventional capital markets and crypto in a major financial center, and risk from heavy regulatory dependence and the inherent swings in digital asset markets. Until the merger is completed and more detailed combined financials are available, analysis is mainly about structure and strategy rather than current earnings strength.