Financial leverage is rising as the debt-to-equity ratio climbed to 0.12 in 2025Q3, reflecting an increasing reliance on external financing to sustain the public listing.
| Total Current Assets | 25.94K | 4.64K | 434.27K | 33.48K |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | - | - | - | - |
| Short-Term Investments | - | - | - | - |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 24.01K | 0 | 66.95K | 0 |
| Total Non-Current Assets | 43.32M | 48.43M | 60.77M | 234.43K |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 175.35M | 48.08M | 46.08M | 0 |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 43.35M | 48.43M | 61.2M | 267.91K |
| Asset Turnover | 0.10x | - | - | - |
| Asset Growth % | -118.1% | -20.86% | 22743.62% | - |
| Total Current Liabilities | 5.25M | 4.39M | 816.48K | 309.21K |
| Accounts Payable | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - |
| Short-Term Debt | 2.91M | 2.25M | 0 | 295K |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 2.34M | 330.97K | 330.97K | 0 |
| Current Ratio | 0.00x | 0.00x | 0.53x | 0.11x |
| Quick Ratio | 0.00x | 0.00x | 0.53x | 0.11x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 1.46M | 2.03M | 2.02M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 6.7M | 6.42M | 2.84M | 309.21K |
| Total Debt | 2.91M | 2.25M | 0 | 295K |
| Net Debt | 2.91M | 2.24M | -367.32K | 261.52K |
| Debt / Equity | 0.12x | 0.05x | - | - |
| Debt / EBITDA | -3.13x | 16.06x | - | 1.82x |
| Net Debt / EBITDA | -3.13x | 16.02x | -0.38x | 1.62x |
| Interest Coverage | - | - | - | - |
| Total Equity | 24.45M | 42.01M | 58.36M | -41.3K |
| Equity Growth % | -225.99% | -28.01% | 141404.42% | - |
| Book Value per Share | 6.83 | 7.84 | 7.75 | -0.03 |
| Total Shareholders' Equity | 24.45M | 42.01M | 58.36M | -41.3K |
| Common Stock | 31.13M | 48.43M | 59M | 144 |
| Retained Earnings | -6.69M | -6.42M | -482.6K | -66.3K |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent Liquidation Deadline Risk
As reported in financial statements, OAKU's total assets have declined from $64.0 million in 2024Q3 to $43.3 million by 2025Q3, reflecting a consistent contraction that underscores the entity's inability to maintain its capital base while searching for a viable business combination target.
The steady decline in total assets suggests that the company is either returning capital to shareholders or consuming its trust account to cover administrative costs. This downward trajectory warrants further investigation, as it may indicate a diminishing capacity to execute a meaningful merger before the liquidation deadline.
Based on reported figures, OAKU's debt-to-equity ratio has climbed to 0.12 in 2025Q3 from 0.04 in 2024Q3, indicating an increasing reliance on external financing to sustain the shell entity's public listing requirements as internal cash reserves are depleted.
While the absolute debt level of $2.9 million remains relatively low, the shift toward debt financing in a pre-revenue environment appears to be a necessity-driven move rather than a strategic choice. Investors should monitor whether this leverage is being used to fund essential due diligence or merely to defer the inevitable liquidation process.
According to recent SEC filings, OAKU's cash position has plummeted to a nominal $1.9K as of 2025Q3, a stark reduction from the $527.0K reported in 2023Q3, which leaves the company with virtually no buffer against unexpected administrative or legal expenses.
The current ratio of 0.00 suggests that the company lacks the liquid assets necessary to meet its short-term obligations without further sponsor intervention. This extreme liquidity constraint implies that the entity is effectively operating on a day-to-day basis, significantly increasing the risk of a forced liquidation.
As indicated by the financial data, equity has experienced significant volatility, swinging from a positive $42.1 million in 2024Q3 to a negative $8.4 million in 2025Q2, which highlights the precarious nature of the company's capital structure in the absence of operational revenue.
The erratic movement in equity, coupled with persistent negative retained earnings, suggests that the company's book value is highly sensitive to non-operating adjustments and potential share redemptions. This instability may indicate that the underlying value of the SPAC is being eroded by the ongoing costs of maintaining the shell.
Based on the provided financial data, the most non-obvious risk is the potential for significant dilution from sponsor loans and warrant liabilities, which are not fully captured in the headline equity figures but could materially impact future shareholder value upon a successful merger.
The reliance on sponsor-provided capital to keep the entity afloat may create hidden obligations that prioritize sponsor interests over those of public shareholders. Investors should be wary that the reported equity figures may overstate the actual value available to common shareholders in a liquidation or merger scenario.
Quick answers to the most common questions about buying OAKU stock.
As of 2024, Oak Woods Acquisition Corporation (OAKU) had total assets of $48.4M including $0.0M in current assets.
Oak Woods Acquisition Corporation (OAKU) carries total debt of $2.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Oak Woods Acquisition Corporation (OAKU) has total shareholders' equity (book value) of $42.0M ($7.84 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Oak Woods Acquisition Corporation (OAKU) reported a current ratio of 0.00x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.