Spark I Acquisition Corp

Spark I Acquisition Corporation is a blank check company incorporated on July 12, 2021, as a Cayman Islands exempted company. Its purpose is to complete a merger, share exchange, asset acquisition, share purchase, reorganization, or similar combination with one or more businesses or assets, referred to as its initial business combination. To date, the company's activities have been limited to organizational efforts and searching for a target business for its initial business combination. It has not generated any revenues and does not expect to generate operating revenues until the initial business combination is completed. In October 2024, Spark I Acquisition Corporation announced it had signed a non-binding letter-of-intent (LOI) for a business combination with Kneron Holding Corporation, a provider of full stack edge artificial intelligence (AI) solutions based in San Diego, California. It also signed a non-binding LOI for a business combination with a company in the hospitality software as a service/platform space. Both LOIs have since expired, but the company is actively negotiating the terms of a binding business combination agreement with Kneron. On October 11, 2023, the company completed its initial public offering (IPO) of 10,000,000 units. Each unit consists of one Class A ordinary share, par value $0.0001, and one-half of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at $11.50 per share, subject to adjustment, starting 30 days after the completion of the initial business combination. Cantor Fitzgerald & Co. was granted a 45-day option to purchase up to 1,500,000 additional units, but on October 10, 2023, Cantor informed the company it would not exercise this option.