What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-08-14 compared with 2026-05-15 · 124 added, 74 removed, 454 unchanged (30% of the section changed)

18 unchanged sentences

Commitments and Contingencies (Note 6)

Class A Ordinary Shares subject to possible redemption, 17,250,000 shares issued and outstanding at redemption value of approximately $ 10.59 and $ 10.51 per share as of March 31, 2026 and December 31, 2025, respectively 182,735,189 181,285,220

Class A Ordinary Shares subject to possible redemption, 17,250,000 shares issued and outstanding at redemption value of approximately $ 10.69 and $ 10.51 per share as of June 30, 2026 and December 31, 2025, respectively 184,416,026 181,285,220

Shareholders’ Deficit

4 unchanged sentences

200,000,000 shares authorized;

1,242,875 shares issued and outstanding (excluding 17,250,000 shares subject to possible redemption) as of March 31, 2026 and December 31, 2025 124 124

1,242,875 shares issued and outstanding (excluding 17,250,000 shares subject to possible redemption) as of June 30, 2026 and December 31, 2025 124 124

Class B ordinary shares, $ 0.0001 par value;

20,000,000 shares authorized;

5,750,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025 575 575

5,750,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025 575 575

Additional paid-in capital — —

6 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the Three Months Ended

For the Six Months Ended

General and administrative expenses $ 1,105,308 $ 237,782 $ 1,358,023 $ 544,127

11 unchanged sentences

Diluted net income per ordinary share, Class B ordinary shares outstanding $ 0.02 $ 0.07 $ 0.07 $ 0.12

Excluded an aggregate of up to 750,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised.

On January 16, 2025, the underwriters exercised their over-allotment option in full as part of the closing of the Initial Public Offering.

As such, the 750,000 Founder Shares are no longer subject to forfeiture (see Note 5).

The accompanying notes are an integral part of

3 unchanged sentences

IN SHAREHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2026

FOR THE THREE AND SIX MONTHS ENDED JUNE 30,

Ordinary Shares

5 unchanged sentences

Balance — March 31, 2026 (unaudited) 1,242,875 124 5,750,000 575 — ( 7,218,702 ) ( 7,218,003 )

FOR THE THREE MONTHS ENDED MARCH 31, 2025

Remeasurement of Class A ordinary shares subject to redemption — — — — — ( 1,680,837 ) ( 1,680,837 )

Net income — — — — — 577,124 577,124

Balance — June 30, 2026 (unaudited) 1,242,875 $ 124 5,750,000 $ 575 $ — $ ( 8,322,415 ) $ ( 8,321,716 )

FOR THE THREE AND SIX MONTHS ENDED JUNE 30,

Ordinary Shares

10 unchanged sentences

Balance — March 31, 2025 (unaudited) 1,242,875 124 5,750,000 575 — ( 6,265,813 ) ( 6,265,114 )

The accompanying notes are an integral part

of these unaudited condensed consolidated financial statements.

Remeasurement of Class A ordinary shares subject to redemption — — — — — ( 1,867,009 ) ( 1,867,009 )

Net income — — — — — 1,629,227 1,629,227

Balance — June 30, 2025 (unaudited) 1,242,875 $ 124 5,750,000 $ 575 $ — $ ( 6,503,595 ) $ ( 6,502,896 )

Excluded an aggregate of up to 750,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised.

On January 16, 2025, the underwriters exercised their over-allotment option in full as part of the closing of the Initial Public Offering.

As such, the 750,000 Founder Shares are no longer subject to forfeiture (see Note 5).

The accompanying notes are an integral part of

these unaudited condensed consolidated financial statements.

PLUM ACQUISITION CORP.

19 unchanged sentences

Proceeds from sale of Private Placements Units — 6,728,750

Proceeds from promissory note - related party 550,000 —

Repayment of promissory note – related party — ( 285,318 )

11 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Plum Acquisition Corp.

IV (the “Company”) is a blank check company incorporated as a Cayman Islands exempted corporation on June 10, 2024 .

IV (the “Company” or “Plum IV”) is a blank check company incorporated as a Cayman Islands exempted corporation on June 10, 2024 .

The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”).

1 unchanged sentence

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 June 10, 2024 (inception) through March 31, 2026 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below, and, after the Initial Public Offering, identifying a target company for a Business Combination.

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

All activity for the period from June 10, 2024 (inception) through June 30, 2026 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below, and, after the Initial Public Offering, identifying a target company for a Business Combination.

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

18 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

The Company will provide its 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 general meeting called to approve the Business Combination or (ii) by means of a tender offer.

11 unchanged sentences

If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than 10 business days thereafter, redeem 100 % of the outstanding Public Shares, at a per-share price, payable in cash, including interest earned on the funds held in the Trust Account (which interest shall be net of taxes payable and up to $ 100,000 of interest to pay dissolution expenses) and not previously released to the Company to pay its taxes, if any, divided by the number of then-outstanding Public Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the Company’s board of directors, liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

The Sponsor has agreed to waive its liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period.

2 unchanged sentences

In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the initial amount held in the Trust Account ($ 10.10 ).

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

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 by a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (1) $ 10.10 per Public Share or (2) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes.

2 unchanged sentences

The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (other than the Company’s independent auditors), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

On July 10, 2026, the Company held an extraordinary general meeting of its shareholders (the “Shareholder Meeting”) to amend the Company’s amended and restated memorandum and articles of association (the “Articles”) to extend the date (the “Termination Date”) by which the Company has to consummate a business combination (the “Articles Extension”) from July 16, 2026 to January 16, 2027 (the “Articles Extension Date”) and to allow Plum IV, without another shareholder vote, to elect to extend the Termination Date to consummate a Business Combination on a monthly basis for up to six times by an additional one month each time after the Articles Extension Date, by resolution of the Company’s board of directors if requested by the Sponsor and upon five days’ advance notice prior to the applicable Termination Date, until July 16, 2027, or a total of up to twelve months after the Termination Date, unless the closing of a business combination shall have occurred prior to such date (the “Extension Amendment Proposal”).

In connection with the vote to approve the Extension Amendment Proposal, the holders of 13,540,384 Public Shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $ 10.71 per share, for an aggregate redemption amount of approximately $ 145 million, leaving approximately $ 39.7 million in the Trust Account.

The Company contemplates raising private investment in public equity (“PIPE”) financing in connection with the proposed Business Combination to satisfy the minimum cash condition under the Business Combination Agreement.

Accordingly, management does not believe that the reduction in the funds remaining in the Trust Account as a result of these redemptions will adversely affect the Company’s ability to satisfy the minimum cash condition, provided that the anticipated PIPE financing is successfully completed.

Proposed Business Combination

1 unchanged sentence

On March 8, 2026, the Company entered into a business combination agreement (the “Business Combination Agreement”) by and among the Company, Plum IV Merger Sub, Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger Sub”), and Controlled Thermal Resources Holdings Inc., a Delaware corporation (“CTR”), pursuant to which, among other things and subject to the terms and conditions contained therein, Merger Sub will merge with and into CTR (the “Merger”), with CTR continuing as the surviving company.

The transactions contemplated by the Business Combination Agreement are referred to in this Annual Report as the “Business Combination.” The combined company’s business is expected to continue to operate through CTR.

The transactions contemplated by the Business Combination Agreement are referred to in this Quarterly Report as the “Business Combination.” The combined company’s business is expected to continue to operate through CTR.

The proposed Merger is expected to be consummated after receipt of the required approvals by the Company’s shareholders and CTR’s stockholders and the satisfaction or waiver of certain other customary conditions.

7 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

The Merger and Consideration

8 unchanged sentences

At the Effective Time, by virtue of the Merger and the applicable provisions of the certificate of incorporation of Domesticated Plum IV (the “Domesticated Purchaser Charter”), each share of Domesticated Purchaser Class B Common Stock then issued and outstanding shall be automatically cancelled and extinguished and converted into one (1) share of Domesticated Purchaser Common Stock.

Transaction Support Agreement

Simultaneously with the execution and delivery of the Business Combination Agreement, the Company and certain stockholders of CTR, who collectively have the right to cast at least 60 % of the votes entitled to be cast at a special meeting of CTR’s stockholders (collectively, the “Supporting CTR Stockholders”) entered into a Transaction Support Agreement (the “Transaction Support Agreement”), pursuant to which the Supporting CTR Stockholders have agreed, among other things, to vote all of their shares of CTR’s common stock in favor of adopting and approving the Business Combination Agreement and the Business Combination.

Amendments to Business Combination Agreement

On May 15, 2026, the Company and Merger Sub entered into an amendment to the Business Combination Agreement (the “First BCA Amendment”), which amends the Business Combination Agreement to, among other things, (i) extend the date by which the Company is required to deliver financial statements and pro forma financial information of the Company required to be included in the proxy statement/prospectus in the Registration Statement on Form S-4 from May 15, 2026 to June 15, 2026 and June 30, 2026, respectively;

(ii) extend the date by which the Company and Merger Sub are required to make any filings or applications required under antitrust laws with respect to the Business Combination Agreement from April 17, 2026 to July 31, 2026;

and (iii) extend the dates by which the Company is required to deliver certain material consents from May 7, 2026 to the dates listed on Schedule 8.01(m) to the Business Combination Agreement.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

On July 6, 2026, the Company and Merger Sub entered into a second amendment to the Business Combination Agreement (the “Second BCA Amendment” and the Business Combination Agreement, as amended by the First BCA Amendment and the Second BCA Amendment, the “Amended BCA”), which amends the Business Combination Agreement to, among other things, (i) reduce the aggregate number of potential earnout shares issuable to the Company’s shareholders following the closing from 100,000,000 to 70,000,000 , with each of the eight earnout tranches reduced proportionally from 12,500,000 to 8,750,000 shares;

(ii) extend the date by which the parties are required to make any filings or applications required under antitrust laws with respect to the transactions contemplated by the Amended BCA from July 31, 2026 to September 30, 2026;

(iii) increase the maximum number of shares issuable to Sponsor as reimbursement for founder shares issued to the Company’s shareholders, or issuable to the Company’s shareholders, who agree not to redeem their shares from 2,000,000 to 3,000,000 ;

(iv) extend the date by which the closing must occur from December 31, 2026 to April 30, 2027;

(v) reduce the valuation used to calculate the merger consideration from $ 4,500,000,000 to $ 3,150,000,000 ;

and (vi) extend the deadlines by which the Company is required to deliver certain material consents to the dates listed on Schedule 8.01(m) to the Amended BCA.

Transaction Support Agreement

Registration Rights Agreement

14 unchanged sentences

In the opinion of management, the accompanying unaudited condensed consolidated 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 periods presented.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 31, 2026.

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

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.

Principles of Consolidation

4 unchanged sentences

All significant intercompany balances and transactions have been eliminated in consolidation.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

Liquidity and Going Concern

As of March 31, 2026, the Company had $ 93,512 in cash and cash equivalents and working capital deficit of $ 318,003 .

As of June 30, 2026, the Company had $ 288,518 in cash and cash equivalents and working capital deficit of $ 1,421,716 .

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

There is no assurance that the Company’s plans to raise capital will be successful.

Further, the Company has until July 16, 2026 to complete its initial business combination or it will liquidate absent any shareholder approved extensions.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”) Topic 205-40, “Presentation of Financial Statements - Going Concern,” as of March 31, 2026, management has determined that mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution and the liquidity condition issue raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date the unaudited condensed consolidated financial statements are issued.

Further, the Company has until January 16, 2027 to complete its initial business combination or it will liquidate absent any shareholder approved extensions (see Note 10).

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”) Topic 205-40, “Presentation of Financial Statements - Going Concern,” as of June 30, 2026, management has determined that mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution and the liquidity condition issue raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date the unaudited condensed consolidated financial statements are issued.

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

11 unchanged sentences

Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

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 $ 30,000 in cash as of March 31, 2026 and December 31, 2025.

The Company had $ 63,512 and $ 266,249 in cash equivalents as of March 31, 2026 and December 31, 2025, respectively.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

Cash and Cash Equivalents

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 $ 30,000 in cash as of June 30, 2026 and December 31, 2025.

The Company had $ 258,518 and $ 266,249 in cash equivalents as of June 30, 2026 and December 31, 2025, respectively.

Investments Held in Trust Account

As of March 31, 2026 and December 31, 2025, the investments held in the Trust Account, amounting to $ 182,735,189 and $ 181,285,220 , were held in U.S.

As of June 30, 2026 and December 31, 2025, the investments held in the Trust Account, amounting to $ 184,416,026 and $ 181,285,220 , were held in U.S.

government treasury bills, respectively.

On July 10, 2026, in connection with the vote to approve the Extension Amendment Proposal, the holders of 13,540,384 Public Shares properly exercised their right to redeem their shares for cash at a redemption price of approximately $ 10.71 per share, for an aggregate redemption amount of approximately $ 145 million, leaving approximately $ 39.7 million in the trust account (see Note 10).

Offering Costs

9 unchanged sentences

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.

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.

5 unchanged sentences

Weighted average shares were reduced for the effect of an aggregate of 750,000 Class B ordinary shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised (see Note 5).

As of March 31, 2026 and March 31, 2025, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company.

As of June 30, 2026 and June 30, 2025, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company.

As a result, diluted income per ordinary share is the same as basic income per ordinary share for the period presented.

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts):

For the Three Months Ended

March 31, 2026 For the Three Months Ended

March 31, 2025

June 30, 2026 For the Six Months Ended

June 30, 2026

Class A Class B Class A Class B

Basic and diluted net income per share of common stock:

Allocation of net income $ 440,240 $ 136,884 $ 1,354,960 $ 421,298

Weighted-average shares outstanding 18,492,875 5,750,000 18,492,875 5,750,000

Basic and diluted net income per ordinary share $ 0.02 $ 0.02 $ 0.07 $ 0.07

For the Three Months Ended For the Six Months Ended

June 30, 2025 June 30, 2025

Class A Class B Class A Class B

Basic net income per share of common stock:

2 unchanged sentences

Basic net income per ordinary share $ 0.07 $ 0.07 $ 0.12 $ 0.12

For the Three Months Ended

March 31, 2026 For the Three Months Ended

March 31, 2025

For the Three Months Ended For the Six Months Ended

June 30, 2025 June 30, 2025

Class A Class B Class A Class B

10 unchanged sentences

The Company will account for the Public and Private Placement Warrants issued in connection with the Initial Public Offering, on January 16, 2025 and the private placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging.” Accordingly, the Company evaluated and classified the warrant instruments under equity treatment at their assigned values.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

The fair value of the Public Warrants was $ 603,750 , or $ 0.04 per Public Warrant.

1 unchanged sentence

The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance.

The following table presents the quantitative information regarding market assumptions used in the Level 3 valuation of the Public Warrants:

T he following table presents the quantitative information regarding market assumptions used in the Level 3 valuation of the Public Warrants (refer to Note 8 for more detail) :

Underlying stock price $ 9.98

5 unchanged sentences

Market adjustment 5.0 %

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

Class A Ordinary Shares Subject to Possible Redemption Classification

4 unchanged sentences

The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit.

Accordingly, as of March 31, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed consolidated balance sheets.

As of March 31, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed consolidated balance sheets are reconciled in the following table:

Accordingly, as of June 30, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed consolidated balance sheets.

As of June 30, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed consolidated balance sheets are reconciled in the following table:

Gross proceeds $ 172,500,000

5 unchanged sentences

Class A ordinary shares subject to possible redemption, March 31, 2026 182,735,189

Accretion of carrying value to redemption value 1,680,837

Class A ordinary shares subject to possible redemption, June 30, 2026 $ 184,416,026

Share-Based Compensation

7 unchanged sentences

Share-based compensation expenses are included in costs and operating expenses depending on the nature of the services provided in the unaudited condensed consolidated statements of operations.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

Derivative Financial Instruments

6 unchanged sentences

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

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

NOTE 3 — INITIAL PUBLIC OFFERING

21 unchanged sentences

Market adjustment 5.0 %

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

NOTE 5 — RELATED PARTY TRANSACTIONS

4 unchanged sentences

The initial shareholders currently hold an aggregate of 5,750,000 Founder Shares.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

The Founder Shares included an aggregate of up to 750,000 shares subject to forfeiture by the holders thereof depending on the extent to which the underwriters’ over-allotment option was exercised, so that the number of Founder Shares would have collectively represented 25 % of the Company’s issued and outstanding shares upon the completion of the Initial Public Offering (not including the Restricted Private Placement Shares).

17 unchanged sentences

Borrowings under this note are no longer available.

As of March 31, 2026 and December 31, 2025, there were no outstanding under the Promissory Note, respectively.

As of June 30, 2026 and December 31, 2025, there were no outstanding under the Promissory Note, respectively.

On July 8, 2025, the Company issued an unsecured promissory note (the “Note”) in the principal amount of up to $ 1,500,000 to Sponsor which may be drawn down from time to time prior to the Maturity Date (as defined below) upon request by the Company.

8 unchanged sentences

As a result, the Note is recognized at its principal amount, net of issuance costs, and presented and disclosed in accordance with ASC 470.

Concurrently with the issuance of the Note, the Company drew an initial amount of $ 250,000 .

As of March 31, 2026 and December 31, 2025, there was $ 250,000 , outstanding under the Note.

As of June 30, 2026 and December 31, 2025, there was $ 800,000 and $ 250,000 outstanding under the Note, respectively.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

Consulting Services

The Chief Executive Officer and the Chief Financial Officer entered into agreements with the Company, commencing on January 16, 2025 through the closing of the Company’s Business Combination, to pay each officer an aggregate of $ 20,833 per month, subject to availability of sufficient funds from working capital held outside the Trust Account.

For the three months ended March 31, 2026, the Company incurred approximately $ 125,000 , in fees for these services.

For the three months ended March 31, 2025, the Company incurred and paid $ 104,000 for these services.

As of March 31, 2026 and December 31, 2025, approximately $ 52,000 and $ 31,000 in unpaid consulting fees has been accrued and recorded under accrued expenses in the accompanying condensed consolidated balance sheets, respectively.

For the three and six months ended June 30, 2026, the Company incurred approximately $ 125,000 and $ 250,000 , respectively, in fees for these services.

For the three and six months ended June 30, 2025, the Company incurred approximately $ 125,000 and $ 233,000 in consulting fees to the officers, respectively.

As of June 30, 2026 and December 31, 2025, approximately $ 21,000 and $ 31,000 in unpaid consulting fees has been accrued and recorded under accrued expenses in the accompanying condensed consolidated balance sheets, respectively.

Related Party Loans

6 unchanged sentences

The units would be identical to the Private Placement Units.

As of March 31, 2026 and December 31, 2025, there are no Working Capital Loans outstanding.

As of June 30, 2026 and December 31, 2025, there are no Working Capital Loans outstanding.

NOTE 6 — COMMITMENTS AND CONTINGENCIES

13 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

Warrants — As of March 31, 2026 and December 31, 2025, there were 8,961,438 warrants outstanding, including 8,625,000 Public Warrants and 336,438 Private Placement Warrants.

JUNE 30, 2026

Warrants — As of June 30, 2026 and December 31, 2025, there were 8,961,438 warrants outstanding, including 8,625,000 Public Warrants and 336,438 Private Placement Warrants.

Public Warrants may only be exercised for a whole number of shares.

19 unchanged sentences

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

The Company has established the $ 18.00 per share (as adjusted) redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the public warrant exercise price.

6 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.

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.

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

As of March 31, 2026 and December 31, 2025, there are 1,242,875 Class A ordinary shares issued and outstanding, excluding 17,250,000 Class A ordinary shares subject to redemption.

As of June 30, 2026 and December 31, 2025, there are 1,242,875 Class A ordinary shares issued and outstanding, excluding 17,250,000 Class A ordinary shares subject to redemption.

Class B Ordinary Shares — The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $ 0.0001 per share.

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

As of March 31, 2026 and December 31, 2025, there were 5,750,000 Class B ordinary shares issued and outstanding (see Note 5).

As of June 30, 2026 and December 31, 2025, there were 5,750,000 Class B ordinary shares issued and outstanding (see Note 5).

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

JUNE 30, 2026

Only holders of Class B ordinary shares will have the right to vote on the election of directors prior to the Business Combination.

1 unchanged sentence

The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holder, on a one-for-one basis, subject to adjustment.

On July 9, 2026, the Sponsor and the Company’s independent directors voluntarily converted an aggregate of 5,749,999 Class B Ordinary Shares into 5,749,999 Class A Ordinary Shares, as permitted by the Company’s Articles.

The Class B Ordinary Shares that converted into Class A Ordinary Shares will not be entitled to receive funds from the Trust Account through redemptions or otherwise and will remain subject to the existing transfer restrictions.

Following the conversions and redemptions, there are a total of 10,702,490 Class A Ordinary Shares outstanding and one Class B Ordinary Share outstanding, which Class B Ordinary Share is held by the Sponsor.

NOTE 8 — FAIR VALUE MEASUREMENTS

7 unchanged sentences

Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2026 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

Level March 31,

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

Level June 30,

2026 December 31,

1 unchanged sentence

Treasury Securities July 16, 2026 1 $ 184,416,026 $ 181,285,220

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

Upon maturity, the proceeds were subsequently invested in accordance with the investment provisions set forth in the Trust Account Agreement.

NOTE 9 — SEGMENT REPORTING

3 unchanged sentences

Accordingly, management has determined that there is only one reportable segment.

PLUM ACQUISITION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2026

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the unaudited condensed consolidated statements of operations as net income or loss.

1 unchanged sentence

When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews the below key metric included in net income or loss:

For the Three

2026 For the Three

2025 For the Six

2026 For the Six

General and administrative expenses $ 1,105,308 $ 237,782 $ 1,358,023 $ 544,127

10 unchanged sentences

Based upon this review, besides as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements.

Subsequent to March 31, 2026, the Company drew an aggregate of $ 550,000 under the Note.

On July 10, 2026, the Company held the Shareholder Meeting to amend the Company’s Articles to extend the date by which the Company has to consummate a business combination from July 16, 2026 to January 16, 2027 and to allow Plum IV, without another shareholder vote, to elect to extend the Termination Date to consummate a Business Combination on a monthly basis for up to six times by an additional one month each time after the Articles Extension Date, by resolution of the Company’s board of directors if requested by the Sponsor and upon five days’ advance notice prior to the applicable Termination Date, until July 16, 2027, or a total of up to twelve months after the Termination Date, unless the closing of a business combination shall have occurred prior to such date.

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