Origin Investment Corp I Annual Report - How They Did This Year

I’ve put together this guide to help you understand how Origin Investment Corp I performed this year. My goal is to turn complex filings into plain English so you can decide if this company fits your investment goals.

1. What does this company do?

Origin Investment Corp I is a "Special Purpose Acquisition Company," or SPAC. Think of it as a "blank check" company. It doesn't make products or provide services yet.

The company raised $73 million in July 2025 by selling 7.3 million units at $10 each. Its only goal is to find a private company—ideally in Asia—and merge with it to take that company public. Until then, the cash sits in a trust account, invested in safe, short-term U.S. government securities.

2. Financial performance

Because this is a "shell" company, it doesn't generate revenue or profit. Its performance is simply about managing the cash it raised.

The company currently has $69.7 million in its trust account. It uses the interest earned on this cash to pay for day-to-day operating costs. It reported a loss of about $150,000 this period, mostly from administrative and legal fees needed to stay listed on the stock exchange.

3. The "Game Plan"

The team has a clear strategy:

• Where they are looking: They are focusing on high-growth markets in Asia with stable regulations.
• What they want: They want middle-market companies worth $200 million to $500 million in sectors like finance, technology, biotech, materials, and clean energy.
• Why they think they’ll succeed: They believe private companies will prefer merging with them over a traditional IPO. It is faster, cheaper, and offers a negotiated price rather than one subject to market swings.

4. Financial health

The company is in a "holding pattern." It has no full-time employees, just one officer managing the search. To keep costs low, the company relies on a $250,000 loan from its sponsor to cover startup expenses. Because it is small, it relies entirely on outside firms for legal, accounting, and data security.

5. Key risks

• The "No-Deal" Risk: The company must finish a deal by January 2027. If it fails, the company will dissolve. You would get your $10 per share back (plus interest, minus taxes), but you would lose the time your money was tied up.
• Management Focus: The leaders have other jobs. This could create conflicts of interest regarding how they spend their time or which companies they choose to pursue.
• Market Sensitivity: The stock price is volatile. It often trades based on rumors or general market mood rather than the actual cash in the trust.

6. Future outlook

The team is currently in "search mode." They are using their professional networks to find a partner. Remember, their past experience doesn't guarantee future success. You are betting on their ability to find a "hidden gem" in Asia and close a deal before their 18-month deadline.

Investor Tip: If you are considering this investment, keep a close eye on company announcements for a "Letter of Intent." This is the primary signal that the team has found a target and is moving toward a formal merger.