Dynamix (ETHM) Registration Filing summary

Company overview and business model

• Incorporated as a Cayman Islands exempted company, structured as a blank check company (SPAC) to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, with a focus on the energy and power value chain, including energy transition, oil and gas, and power sectors.

• No business combination target has been selected or substantive discussions initiated; may pursue targets in any industry but expects to focus on energy transition, oil and gas, and power, including AI-driven power demand.

• Management team has deep experience in energy, power, and infrastructure, with a track record in SPACs and public company transactions.

• The company is remote-first, with no physical headquarters.

Financial performance and metrics

• As of June 19, 2024, had no operating revenues; only formation and offering-related expenses have been incurred.

• Net loss for the period from inception to June 19, 2024, was $26,661.

• Total assets as of June 19, 2024, were $142,896, with $134,137 in deferred offering costs.

• Upon IPO closing, $150 million ($10.00 per unit) will be placed in a U.S.-based trust account, with up to $172.5 million if the over-allotment is exercised.

Use of proceeds and capital allocation

• $150 million of IPO and private placement proceeds to be held in trust, invested in U.S. government securities or money market funds, to be used for a business combination or returned to shareholders if no deal is completed.

• Approximately $1.5 million of net proceeds not held in trust will be used for working capital, due diligence, legal, accounting, and administrative expenses.

• Up to $1.5 million in working capital loans may be convertible into private placement warrants at $1.00 per warrant.