What changed in this filing

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Item 1. Financial Statements

2026-08-14 compared with 2026-05-15 · 149 added, 111 removed, 358 unchanged (42% of the section changed)

Financial Statements

Condensed Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025

Condensed Statements of Operations for the Three and Six Months Ended June 30, 2026 (unaudited)

Condensed Statements of Shareholders’ Deficit for the Three and Six Months Ended June 30, 2026 (unaudited)

Condensed Statement of Cash Flows for the Six Months Ended June 30, 2026 (unaudited)

Notes to Unaudited Condensed Financial Statements

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

CONDENSED BALANCE SHEETS

March 31, 2026

June 30, 2026

December 31, 2025

15 unchanged sentences

Commitments and Contingencies (Note 7)

Class A ordinary shares subject to possible redemption, 30,015,000 and 0 shares at redemption value of $ 10.06 and $ 0.00 per share as of March 31, 2026 and December 31, 2025

Class A ordinary shares subject to possible redemption, 30,015,000 and 0 shares at redemption value of $ 10.12 and $ 0.00 per share as of June 30, 2026 and December 31, 2025, respectively

Shareholders’ Deficit:

1 unchanged sentence

1,000,000 shares authorized;

no shares issued or outstanding as of March 31, 2026 and December 31, 2025

no shares issued or outstanding as of June 30, 2026 and December 31, 2025

Class A ordinary shares, $ 0.0001 par value, 200,000,000 shares authorized;

no shares issued or outstanding as of March 31, 2026 and December 31, 2025 (excluding 30,015,000 shares subject to possible redemption)

no shares issued or outstanding as of June 30, 2026 and December 31, 2025 (excluding 30,015,000 shares subject to possible redemption)

Class B ordinary shares, $ 0.0001 par value, 20,000,000 shares authorized;

7,503,750 shares issued and outstanding as of March 31, 2026 and December 31, 2025

7,503,750 shares issued and outstanding as of June 30, 2026 and December 31, 2025 (1)

Additional paid-in capital

4 unchanged sentences

TOTAL LIABILITIES, REDEEMABLE CLASS A ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

(1) At December 31, 2025, included up to 978,750 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (Note 6).

On January 23, 2026, the Underwriters’ over-allotment option was exercised in full simultaneously with the closing of the Initial Public Offering, and the 978,750 Class B ordinary shares were no longer subject to forfeiture.

The accompanying notes are an integral part of these unaudited condensed financial statements.

2 unchanged sentences

For the Three Months Ended

March 31, 2026

For the Six Months Ended

June 30, 2026

General and administrative expenses

8 unchanged sentences

Diluted net income per Class B ordinary share

Up to January 23, 2026, the calculation of basic net income per ordinary share for the three and six months ended June 30, 2026 excluded 978,750 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the Underwriters.

The accompanying notes are an integral part of these unaudited condensed financial statements.

1 unchanged sentence

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT (UNAUDITED)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE MONTHS ENDED JUNE 30, 2026

Class B Ordinary Shares (1)

5 unchanged sentences

Fair value of Public Warrants at issuance

Accretion of Class A ordinary shares subject to redemption to redemption value

Accretion of Class A ordinary shares subject to redemption value

( 10,700,295 )

1 unchanged sentence

( 23,558,283 )

Balance at March 31, 2026

Balance at March 31, 2026 (unaudited)

( 11,693,815 )

( 11,693,065 )

Accretion of Class A ordinary shares subject to redemption value

( 1,849,247 )

Balance at June 30, 2026 (unaudited)

( 11,897,428 )

( 11,896,678 )

Includes up to 978,750 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (Note 6).

The accompanying notes are an integral part of these unaudited condensed financial statements.

1 unchanged sentence

CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)

For the Three Months Ended

March 31, 2026

For the Six Months Ended

June 30, 2026

Cash Flows from Operating Activities:

28 unchanged sentences

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

JUNE 30, 2026

DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN

4 unchanged sentences

The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of March 31, 2026, the Company had not commenced any operations.

All activity for the period from July 24, 2025 (inception) through March 31, 2026 relates to the Company’s formation and initial public offering (“Initial Public Offering”).

As of June 30, 2026, the Company had not commenced any operations.

All activity for the period from July 24, 2025 (inception) through June 30, 2026 relates to the Company’s formation and initial public offering (“Initial Public Offering”).

The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest.

The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering and sale of Private Placement Warrants (defined below).

The Company generates non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering and sale of Private Placement Warrants (defined below).

The Company has selected December 31 as its fiscal year end.

11 unchanged sentences

The Company will only complete a Business Combination if the post-transaction company owns or acquires 50 % or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.

Upon the closing of the Initial Public Offering, management has agreed that an amount equal to at least $ 10.00 per Unit sold in the Initial Public Offering, including the proceeds from the sale of the Private Placement Warrants, will be held in the Trust Account.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

JUNE 30, 2026

The Company will provide its holders of the outstanding Public Shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer.

8 unchanged sentences

If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 6) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination.

Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or don’t vote at all.

Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or do not vote at all.

Notwithstanding the above, if the Company seeks shareholder approval of a Business Combination and the Company does not conduct redemptions pursuant to the tender offer rules, the Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), will be restricted from redeeming its shares with respect to more than an aggregate of 15 % or more of the Public Shares, without the prior consent of the Company.

7 unchanged sentences

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

JUNE 30, 2026

In order to protect the amounts held in the Trust Account, the Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $ 10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $ 10.00 per Public Share due to reductions in the value of the Trust Account assets, in each case less taxes payable and up to $ 100,000 of interest to pay liquidation expenses, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the indemnity of the Underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).

Going Concern Consideration

As of March 31, 2026, the Company had a working capital surplus of $ 1,095,935 .

Prior to the completion of the Initial Public Offering, the Company lacked the liquidity it needed to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statement.

The Company has since completed its Initial Public Offering at which time capital in excess of the funds deposited in the Trust Account and/or used to fund offering expenses will be available to the Company for general working capital purposes.

Accordingly, management has since re-evaluated the Company’s liquidity and financial condition and determined that sufficient capital exists to sustain operations one year from the date the financial statements are issued and therefore substantial doubt has been alleviated.

The Company will have until the end of the Completion Period to consummate a Business Combination.

If a Business Combination is not consummated by the end of the Completion Period, there will be a mandatory liquidation and subsequent dissolution of the Company.

No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after 24 months (or January 23, 2028).

The Company intends to complete the initial Business Combination before the mandatory liquidation date.

However, there can be no assurance that the Company will be able to consummate any Business Combination by 24 months (or January 23, 2028).

As of June 30, 2026, the Company had cash of $ 891,230 and a working capital surplus of $ 892,322 .

The Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans.

The Company may need to raise additional capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third parties.

The Company’s officers, directors and Sponsor may, but are not obligated to, loan the Company Working Capital Loans (as defined in Note 6), from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs.

Accordingly, the Company may not be able to obtain additional financing.

If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses.

The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.

If the Company is unable to complete the Business Combination because it does not have sufficient funds available, the Company will be forced to cease operations and liquidate the Trust Account.

In connection with the Company’s assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements—Going Concern”, management has determined that the Company currently lacks the liquidity needed to sustain operations for a reasonable period of time, which is considered to be at least one year from the date that the financial statements, as the Company expects to continue to incur significant costs in pursuit of its acquisition plans.

In addition, Management has determined that if the Company is unable to complete an initial Business Combination within the Completion Period, then the Company will cease all operations except for the purpose of liquidating.

Management has determined that the liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern.

No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after the Completion Period.

The Company intends to complete the initial Business Combination before the end of the Completion Period.

However, there can be no assurance that the Company will be able to consummate any Business Combination by the end of the Completion Period.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1 unchanged sentence

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.

GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S.

Securities and Exchange Commission (“SEC”).

GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC.

Certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S.

1 unchanged sentence

Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows.

In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the period presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the SEC on January 22, 2026, the Company’s Current Report on Form 8-K, as filed with the SEC on January 29, 2026, as well as the Company’s Annual Report on Form 10-K for the period ended December 31, 2025, as filed with the SEC on March 30, 2026.

The interim results for the three months ended March 31, 2026, are not necessarily indicative of the results to be expected for the period ending December 31, 2026 or for any future periods.

Emerging Growth Company

The interim results for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the year ending December 31, 2026, or for any future periods.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

JUNE 30, 2026

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

6 unchanged sentences

Making estimates requires management to exercise significant judgment.

It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events.

It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events.

Accordingly, actual results could differ from those estimates.

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

The Company had $ 1,070,844 and $ 23,583 in cash as of March 31, 2026 and December 31, 2025, respectively.

The Company considers all short-term investments held outside the Trust Account, with an original maturity of three months or less when purchased to be cash equivalents.

The Company had $ 891,230 and $ 23,583 in cash as of June 30, 2026 and December 31, 2025, respectively.

Marketable Securities Held in Trust Account

As of March 31, 2026 and December 31, 2025, the Company had $ 302,050,715 and $ 0 in marketable securities held in the Trust Account, respectively.

As of June 30, 2026 and December 31, 2025, the Company had $ 303,899,962 and $ 0 in marketable securities held in the Trust Account, respectively.

Class A Ordinary Shares Subject to Possible Redemption

3 unchanged sentences

Although the Company did not specify a maximum redemption threshold, its charter provides that currently, the Company will only redeem its Public Shares.

However, the threshold in its Amended and Restated Memorandum and Articles of Association would not change the nature of the underlying shares as redeemable and thus the Public Shares are required to be presented outside of permanent equity.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value ($ 10.06 per share as of March 31, 2026) at the end of each reporting period.

Such changes are reflected in additional paid-in capital, or in the absence of additional paid-in capital, in accumulated deficit.

However, the threshold in its Amended and Restated Memorandum and Articles of Association would

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

As of March 31, 2026, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following table:

JUNE 30, 2026

not change the nature of the underlying shares as redeemable and thus the Public Shares are required to be presented outside of permanent equity.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value ($ 10.12 per share as of June 30, 2026) at the end of each reporting period.

Such changes are reflected in additional paid-in capital, or in the absence of additional paid-in capital, in accumulated deficit.

As of June 30, 2026, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following table:

Gross proceeds

13 unchanged sentences

The Company accounts for income taxes under ASC Topic 740, Income Taxes (“ASC 740”).

ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carryforwards.

ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carryforwards.

ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

2 unchanged sentences

ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statement.

Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s unaudited condensed financial statements.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense.

There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2026 and December 31, 2025, respectively.

There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2026 and December 31, 2025.

The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered an exempted Cayman Islands Company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States.

Consequently, income taxes are not reflected in the Company’s financial statements.

Consequently, income taxes are not reflected in the Company’s unaudited condensed financial statements.

Concentration of Credit Risk

1 unchanged sentence

Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

Net Income per Ordinary Share

1 unchanged sentence

The calculation of diluted income per share does not consider the effect of the warrants issued in connection with the Initial Public Offering since the exercise of the warrants are contingent upon the occurrence of future events.

The Company has two

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

classes of ordinary shares, which are referred to as redeemable Class A ordinary shares and Class B ordinary shares, par value $ 0.0001 per share (the “Class B ordinary shares”).

The Company has two classes of ordinary shares, which are referred to as redeemable Class A ordinary shares and Class B ordinary shares, par value $ 0.0001 per share (the “Class B ordinary shares”).

Income and losses are shared pro rata between the two classes of shares.

Accretion associated with the redeemable shares of Class A ordinary shares is excluded from income per ordinary share as the redemption value approximates fair value.

The Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company included in redeemable Class A ordinary shares.

The Company did not have any other dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings.

Founder shares issued to the Sponsor were subject to forfeiture contingent upon the exercise of the Underwriters’ over-allotment option.

1 unchanged sentence

Accordingly, the founder shares are included in the calculation of diluted earnings per share as if outstanding from the beginning of the interim period upon the full exercise of the over-allotment option on January 23, 2026.

The following table reflects the calculation of basic and diluted net income per share:

Three Months Ended March 31, 2026

The following tables reflect the calculation of basic and diluted net income per share:

Three Months Ended June 30, 2026

Six Months Ended June 30, 2026

Class A Ordinary Shares

Class B Ordinary Shares

Class A Ordinary Shares

Class B Ordinary Shares

Basic net income per share:

1 unchanged sentence

Basic net income per ordinary share

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Six Months Ended June 30, 2026

Class A Ordinary Shares

Class B Ordinary Shares

Class A Ordinary Shares

Class B Ordinary Shares

Diluted net income per share:

2 unchanged sentences

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, Fair Value Measurement , approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature.

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, Fair Value Measurement , approximates the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their short-term nature.

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC Topic 815, Derivatives and Hedging (“ASC 815”).

The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification.

This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance.

For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter.

The warrants are not precluded from equity classification, and were accounted for as such on the date of issuance.

This assessment,

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

JUNE 30, 2026

which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance.

The warrants are not precluded from equity classification, and were accounted for within equity on the date of issuance.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

In November 2024, the FASB issued ASU 2024-03 , Income Statement - Reporting Comprehensive Income (Topic 220-40):

Expense Disaggregation Disclosures (“ ASU 2024-03 ”).

This update requires, among other things, more detailed disclosure about types of expenses in commonly presented expense captions such as cost of sales and selling, general, and administrative expenses, and is intended to improve the disclosures about an entity’s expenses including purchases of inventory, employee compensation, depreciation and amortization.

ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027.

Management is currently evaluating the impact of adopting this guidance on its unaudited condensed financial statements.

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed financial statements.

INITIAL PUBLIC OFFERING

11 unchanged sentences

Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (the “CODM”) in deciding how to allocate resources and assess performance.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

The Company’s CODM has been identified as the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance.

1 unchanged sentence

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss.

The measure of segment assets is reported on the balance sheet as total assets, which were equal to $ 303,239,312 and $ 285,064 as of March 31, 2026 and December 31, 2025, respectively.

The measure of segment assets is reported on the condensed balance sheets as total assets, which were equal to $ 304,892,715 and $ 285,064 as of June 30, 2026 and December 31, 2025, respectively.

When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income or loss and total assets.

The CODM reviews the current condition of its total assets available to assess if the Company has sufficient resources available to discharge its liabilities.

March 31, 2026

The CODM is provided with details of cash and liquid resources available with the Company and reviews interest earned on investments in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investments with the Trust Account funds while maintaining compliance with the trust agreement.

June 30, 2026

December 31, 2025

1 unchanged sentence

For the Three Months Ended

March 31, 2026

For the Six Months Ended

June 30, 2026

General and administrative expenses

Interest earned on marketable securities held in Trust Account

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

The CODM reviews general and administrative expenses to manage and forecast cash to ensure enough capital is available to complete a Business Combination or similar transaction within the Business Combination period.

The CODM also reviews general and administrative expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

General and administrative expenses, as reported on the statement of operations, are the significant segment information provided to the CODM on a regular basis.

The CODM reviews the position of total assets available with the Company to assess if the Company has sufficient resources available to discharge its liabilities.

The CODM is provided with details of cash and liquid resources available with the Company.

General and administrative expenses, as reported on the unaudited condensed statements of operations, are the significant segment information provided to the CODM on a regular basis.

RELATED PARTY TRANSACTIONS

4 unchanged sentences

As such, the 978,750 Founder Shares are no longer subject to forfeiture.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

The Founder Shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the Units sold in the Initial Public Offering, and holders of Founder Shares have the same shareholder rights as Public Shareholders, except that (i) the Founder Shares are subject to certain transfer restrictions, as described in more detail below, (ii) the Founder Shares are entitled to registration rights, (iii) the Company’s Sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (A) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with the completion of the Company’s initial Business Combination, (B) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (1) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100 % of the Company’s Public Shares if the Company has not consummated an initial Business Combination within the Completion Period, (2) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, (3) waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete the Company’s initial Business Combination within the Completion Period, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company fails to complete the initial Business Combination within such time period and to liquidating distributions from assets outside the Trust Account and (4) vote any Founder Shares held by them and any Public Shares purchased during or after the Initial Public Offering (including in open market and privately negotiated transactions) in favor of the initial Business Combination (including any proposals recommended by the Company’s board of directors in connection with such Business Combination) (except with respect to any Public Shares which may not be voted in favor of approving the Business Combination transaction in accordance with the requirements of Rule 14e-5 under the Exchange Act and any SEC interpretations or guidance relating thereto), (iv) the Founder Shares are automatically convertible into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of the Company’s initial Business Combination or at any time prior thereto at the option of the holder on a one -for-one basis, subject to adjustment as described herein and in the Amended and Restated Memorandum and Articles of Association, and (v) prior to the closing of the Company’s initial Business Combination, only holders of Class B ordinary shares will be entitled to vote on the appointment and removal of directors or continuing in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands).

The Founder Shares will automatically convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of the initial Business Combination or at any time prior thereto at the option of the holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein.

In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related to or in connection with the closing of the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 25 % of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the Underwriters’ over-allotment option and excluding the Class A ordinary shares underlying the Private Placement Warrants issued to the Sponsor and the Underwriters), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with the Company’s initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business Combination and any Private Placement Warrant-equivalent warrants issued to the Company’s Sponsor or any of its affiliates or to the Company’s officers and directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by Public Shareholders in connection with an initial Business Combination;

provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

With certain limited exceptions, the Founder Shares are not transferable, assignable or saleable (except to the Company’s officers and directors and other persons or entities affiliated with the Company’s Sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the completion of the Company’s initial Business Combination or earlier if, subsequent to the Company’s initial Business Combination, the last sale price of the Class A ordinary shares equals or exceeds $ 12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -trading day period commencing at least 150 days after the Company’s initial Business Combination, and (B) the date following the completion of the Company’s initial Business Combination on which the Company completes a liquidation, merger, share exchange or

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 25 % of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the Underwriters’ over-allotment option and excluding the Class A ordinary shares underlying the Private Placement Warrants issued to the Sponsor and the Underwriters), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with the Company’s initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business Combination and any Private Placement Warrant-equivalent warrants issued to the Company’s Sponsor or any of its affiliates or to the Company’s officers and directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by Public Shareholders in connection with an initial Business Combination;

provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

JUNE 30, 2026

other similar transaction that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Promissory Note - Related Party

7 unchanged sentences

The Company has agreed to pay to the Sponsor up to $ 30,000 per month for these services during the Completion Period.

For the three months ended March 31, 2026, the Company incurred $ 71,000 of fees which are included in general and administrative expenses on the accompanying unaudited condensed statements of operations.

The Company accrued $ 11,000 of administrative fees as of March 31, 2026, and are included in due to related party on the accompanying unaudited condensed balance sheets.

As of March 31, 2026, the Company has paid $ 60,000 in administrative fees to the Sponsor.

For the three and six months ended June 30, 2026, the Company incurred $ 89,000 and $ 160,000 of fees, respectively, which are included in general and administrative expenses on the accompanying unaudited condensed statements of operations.

The Company accrued $ 10,000 of administrative fees as of June 30, 2026, and are included in due to related party on the accompanying condensed balance sheets.

As of June 30, 2026, the Company has paid $ 150,000 in administrative fees to the Sponsor.

Working Capital Loans

5 unchanged sentences

Other than as set forth above, the terms of such loans by the Company’s officers and directors, if any, have not been determined and no written agreements exist with respect to such loans.

There are no such outstanding working capital loans as of March 31, 2026.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

There are no such outstanding working capital loans as of June 30, 2026 and December 31, 2025.

COMMITMENTS AND CONTINGENCIES

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The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict, the Israel-Hamas conflict and other conflicts in the Middle East (including the Iran conflict).

In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) payment system.

Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations.

The invasion of Ukraine by Russia and Israel-Hamas conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union, Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies.

Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber - attacks against U.S.

Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

Furthermore, changes to policy implemented by the U.S.

5 unchanged sentences

imposed a 25% tariff on imports from Canada and Mexico, which were subsequently suspended for a period of one month, and a 10% additional tariff on imports from China.

More recently on April 2, 2025, President Trump signed an executive order imposing a minimum 10 percent baseline tariff on all U.S.

More recently on April 2, 2025, President Trump signed an executive order imposing a minimum 10% baseline tariff on all U.S.

imports, with higher tariffs applied to imports from 57 specific countries.

The baseline tariff rate became effective on April 5, while tariffs on imports from the 57 targeted nations, ranging from 11 to 50 percent, took effect on April 9.

The baseline tariff rate became effective on April 5, 2026, while tariffs on imports from the 57 targeted nations, ranging from 11% to 50%, took effect on April 9, 2026.

On the same day, President Trump announced a 90-day ‘pause’ on reciprocal tariffs for all but China, which continues to face tariffs as high as 145%.

6 unchanged sentences

The Company is currently evaluating the impact of the new law.

However, none of the tax provisions are expected to have a significant impact on the Company’s financial statements.

However, none of the tax provisions are expected to have a significant impact on the Company’s unaudited condensed financial statements.

Any of the above mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the Israel-Hamas conflict and subsequent sanctions or related actions, and tariff on imports from foreign countries could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination.

3 unchanged sentences

The number of Class A ordinary shares includes (i) 7,503,750 Class A ordinary shares to be issued upon conversion of the Founder Shares, (ii) 4,866,666 Class A ordinary shares underlying the Private Placement Warrants and (iii) Class A ordinary shares underlying the warrants that may be issued upon conversion of working capital loans.

The number of warrants includes up to 4,866,666 Private

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

Placement Warrants and 1,000,000 warrants that may be issued upon the conversion of working capital loans.

The number of warrants includes up to 4,866,666 Private Placement Warrants and 1,000,000 warrants that may be issued upon the conversion of working capital loans.

The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities.

5 unchanged sentences

The Sponsor, officers and directors are also subject to separate transfer restrictions on their Founder Shares and Private Placement Warrants pursuant to the letter agreement described herein.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

The Company granted the Underwriters a 45 -day option to purchase up to 3,915,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting commissions.

4 unchanged sentences

Preference shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $ 0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors.

As of March 31, 2026 and December 31, 2025, there were no preference shares issued or outstanding, respectively.

As of June 30, 2026 and December 31, 2025, there were no preference shares issued or outstanding.

Class A ordinary shares — The Company is authorized to issue 200,000,000 Class A ordinary shares with a par value of $ 0.0001 per share.

4 unchanged sentences

Holders of Class B ordinary shares are entitled to one vote for each share.

As of March 31, 2026 and December 31, 2025, there were 7,503,750 Class B ordinary shares issued and outstanding.

As of June 30, 2026 and December 31, 2025, there were 7,503,750 Class B ordinary shares issued and outstanding.

Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders.

1 unchanged sentence

Prior to the closing of the initial Business Combination, only holders of Class B ordinary shares (i) will have the right to appoint and remove directors prior to or in connection with the completion of the initial Business Combination and (ii) will be entitled to vote on continuing the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands).

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

any other matters submitted to a vote of shareholders prior to or in connection with the completion of the initial Business Combination, holders of the Class B ordinary shares and holders of the Class A ordinary shares will vote together as a single class, except as required by law.

On any other matters submitted to a vote of shareholders prior to or in connection with the completion of the initial Business Combination, holders of the Class B ordinary shares and holders of the Class A ordinary shares will vote together as a single class, except as required by law.

The Founder Shares will automatically convert into Class A ordinary shares immediately prior to, concurrently with or immediately following the consummation of a Business Combination, and may be converted at any time prior to the Business Combination, at the option of the holder, on a one -for-one basis (unless otherwise provided in the Business Combination agreement), subject to adjustment for share subdivisions, share dividends, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein.

In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection with the Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, approximately 25 % of the total number of Class A ordinary shares outstanding after such conversion (not including the Class A ordinary shares underlying the Private Placement Warrants), including the total number of Class A ordinary shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of the Business Combination, excluding any Class A ordinary shares or equity-linked securities or rights exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller in the Business Combination and any Private Placement Warrants issued to the Sponsor, officers or directors upon conversion of working capital loans, provided that such conversion of Founder Shares will never occur on a less than one -for-one basis.

Warrants — As of March 31, 2026, there were 14,871,666 warrants issued including 10,005,000 Public Warrants, issued as part of the Units, and 4,866,666 Private Placement Warrants.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

Warrants — As of June 30, 2026, there were 14,871,666 warrants issued including 10,005,000 Public Warrants, issued as part of the Units, and 4,866,666 Private Placement Warrants.

Each whole Public Warrant entitles the registered holder to purchase one Class A ordinary share at a price of $ 11.50 per share, subject to adjustment as discussed below, at any time commencing 30 days after the completion of the initial Business Combination.

10 unchanged sentences

If and when the warrants become redeemable by the Company for cash, the Company may exercise the redemption right even if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws.

In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $ 9.20 per Class A ordinary shares (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the initial shareholders or their affiliates, without taking into account any Founder Shares held by the initial shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60 % of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and the volume weighted average trading price of the Class A ordinary shares during the 20 trading day period starting on the trading day after the day on which the Company consummates the initial Business Combination (such price, the “Market Value”) is below $ 9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115 % of the higher of the Market Value and the Newly Issued Price, and the $ 18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180 % of the higher of the Market Value and the Newly Issued Price.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

JUNE 30, 2026

The Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination.

16 unchanged sentences

In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2026

The fair value of the Public Warrants issued in the Initial Public Offering was $ 3,601,800 or approximately $ 0.36 per Public Warrant.

8 unchanged sentences

Implied market adjustment

The following table presents information about the Company’s assets that are measured at fair value on March 31, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

March 31, 2026

December 31, 2025

ALDABRA 4 LIQUIDITY OPPORTUNITY VEHICLE, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2026

The following table presents information about the Company’s assets that are measured at fair value as of June 30, 2026, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

June 30, 2026

Marketable securities held in Trust Account

At December 31, 2025, the Company had not commenced its Initial Public Offering and thus did not have a trust account.

SUBSEQUENT EVENTS

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements