Meritz No.1 Special Purpose Acquisition메리츠제1호스팩

Meritz No.1 Special Purpose Acquisition is a shell company with no revenue, no merger target yet, and a share price well below its 52-week high.

This is a SPAC, a blank-cheque vehicle whose only purpose is to find and merge with a target company. As of the latest data it has reported zero revenue, an operating loss of about ₩34M and a net loss of about ₩31M for the trailing period, with cash of about ₩1.9B against borrowings of about ₩2.0B. The data does not name any merger target.

What stands out

• Revenue is zero for both the trailing period to H1 2026 and the 2025 year, so the financials reflect only running costs.
• Net loss is about ₩31M against a market value of about ₩11.9B, and the shares trade at roughly 1.0x book value.
• The share price is ₩2,055, about 36% below its 52-week high of ₩3,200 and only about 4% above its 52-week low of ₩1,974.
• Recent 1-month and 3-month price returns are slightly negative at -0.2% and -2.6%; the 1-year return is not available.
• Recent filings are mostly routine: the half-year report for June 2026 (with two amendments on 14 August 2026) and several insider shareholding reports. No news headlines are in the data.

What to watch

• Whether the company announces a merger target, which is the stated purpose of the SPAC and is not yet in the data.
• The next periodic filings and any further amendments to the half-year report.
• Ongoing cash burn and the ₩2.0B of borrowings relative to ₩1.9B of cash, since the company has no revenue to offset costs.