$101M SPAC trust puts Vernal Capital (VECA) on the clock to find a deal
Vernal Capital Acquisition Corp. (VECA), a SPAC, reported $101.3M in trust assets and $669,644 in cash. It faces going concern doubts if no merger by August 2027. Q1 net income was $612,215, with $832,568 in trust interest income. Management cited ineffective disclosure controls.
