Monitor for the next monthly extension deposit around October 22, 2026 — failure to fund would trigger liquidation risk. The deal clock is ticking with only three months of optional extensions remaining (through January 22, 2027). Watch for shareholder vote scheduling and SEC effectiveness of the F-4 registration statement.
Price Chart
Executive Summary
Columbus Acquisition Corp (COLA) filed a 425 prospectus in connection with its pending business combination with WISeSat.Space Corp., disclosing the issuance of three convertible promissory notes totaling $100,000 to fund monthly trust account extensions through October 22, 2026. The filing confirms the deal remains active but highlights the SPAC's reliance on both sponsor and target funding to extend its combination deadline, with the final extension available up to January 22, 2027.
Key Financial Metrics
Key Facts
- Columbus Acquisition Corp issued three convertible promissory notes totaling $100,000: $50,000 to WISeSat.Space Corp (Target Extension Note) and $25,000 each to sponsor Hercules Capital Management VII Corp (August and September Sponsor Extension Notes).
- The funds were used to deposit $50,000 monthly extension fees into the trust account, extending the business combination deadline from August 22, 2026 to October 22, 2026.
- The SPAC may extend up to January 22, 2027 with additional $50,000 monthly deposits.
- Extension Notes are convertible into private units at $10.00 per unit; the Target Extension Note has an alternative $5.00 per share conversion option if the BCA is terminated by the Company under Section 10.1(e).
- The business combination agreement with WISeSat.Space Corp. was originally dated November 9, 2025.
Financial Impact
Total $100,000 in convertible promissory notes issued to fund trust account extensions; no material financial impact on SPAC's trust value or per-share economics.
Risk Factors
- Failure to complete business combination by January 22, 2027 would force liquidation and return of trust proceeds to public shareholders.
- Shareholder redemptions could reduce trust cash available for the combined company post-close.
- Regulatory or market conditions could delay or prevent deal closing.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001213900-26-106082 |
| Document: ea030741201ex10-1.htm | 0001213900-26-106082 |
| Document: ea030741201ex10-3.htm | 0001213900-26-106082 |
| Document: ea030741201ex10-2.htm | 0001213900-26-106082 |
| Document: 0001213900-26-106082-index-headers.html | 0001213900-26-106082 |
| Document: 0001213900-26-106082-index.html | 0001213900-26-106082 |
| Document: 0001213900-26-106082.txt | 0001213900-26-106082 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 15-12G | — | awaiting T+5 | — | — |
Oct 8, 2026 19d ago | SC 13G/A | — | awaiting T+5 | — | — |
Oct 7, 2026 20d ago | 8-K | — | awaiting T+5 | — | — |
Oct 6, 2026 21d ago | 8-K | $2.71 | awaiting T+5 | — | — |
Oct 2, 2026 25d ago | 425 | $2.71 | awaiting T+5 | — | — |
Oct 2, 2026 25d ago | 8-K | $2.71 | awaiting T+5 | — | — |
Oct 2, 2026 25d ago | 425 | $2.71 | awaiting T+5 | — | — |
Oct 2, 2026 25d ago | 8-K | $2.71 | awaiting T+5 | — | — |
Oct 1, 2026 26d ago | 25-NSE | $2.87 | awaiting T+5 | — | — |
Sep 29, 2026 28d ago | 8-K | $10.45 $2.86 | ▲ +72.63% | ▲ +74.58% | — |
US Market Status
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