Centurion Acquisition Corp. (Nasdaq: ALF) is a special purpose acquisition company (SPAC) that was incorporated in 2024 as a Cayman Islands exempted company and is headquartered in New York City. The company was formed with the sole purpose of effecting a business combination with one or more operating businesses or ...Centurion Acquisition Corp. (Nasdaq: ALF) is a special purpose acquisition company (SPAC) that was incorporated in 2024 as a Cayman Islands exempted company and is headquartered in New York City. The company was formed with the sole purpose of effecting a business combination with one or more operating businesses or valuable assets, which may be achieved through methods such as a merger, capital stock exchange, asset acquisition, stock purchase, or corporate reorganization. As a blank check company, Centurion Acquisition Corp. does not have significant operations and holds only cash and marketable securities in a trust account until a target acquisition is identified and completed.
The company completed its initial public offering (IPO) on August 2, 2024, offering 28,750,000 units at a price of $10.00 per unit, raising approximately $287.5 million (including the full exercise of the underwriters' overallotment option). Each unit consists of one ordinary share and one right to receive one-tenth of an ordinary share upon the completion of an initial business combination. The units began trading on the Nasdaq Global Market under the ticker symbol "ALFUU", and the ordinary shares and rights trade separately as "ALF" and "ALFR", respectively.
Centurion Acquisition Corp. intends to focus its search on businesses in the technology sector, leveraging the expertise of its executive team. Mark Gerhard, the CEO, is a seasoned technology entrepreneur and innovator with a track record of building successful companies. Riaan Hodgson serves as Chief Operating Officer and Director, bringing deep operational experience to the team. The management team has extensive experience in technology, gaming, and media, which will guide the company in identifying a suitable target.
Financially, Centurion Acquisition Corp. has no revenue and minimal operating activities. Its financial metrics reflect a typical SPAC profile: no revenue, negative operating cash flow (due to general and administrative expenses), and a large market capitalization relative to tangible assets held in trust. As of the latest reporting, the company has approximately $297 million in tangible assets, primarily held in trust, and no debt. The company's book value per share is $10.334, and its price-to-book ratio is around 1.05, trading slightly above its net asset value.
The company's strategy is to identify a target that can benefit from its management's operational expertise and growth capital. While no specific target has been announced, the company has a 24-month period from the IPO to complete a business combination, with a possible extension if certain conditions are met.
As a newly formed SPAC, Centurion Acquisition Corp. faces the risk of failing to complete a business combination within the required timeframe, which could result in the liquidation of the trust and the return of capital to shareholders. However, if a business combination is successful, the company could provide a pathway for a private company to go public with the backing of an experienced management team.
Given its early stage and SPAC structure, Centurion Acquisition Corp. represents a high-risk, high-reward investment opportunity. Its success depends heavily on the ability of its management to identify and close a value-accretive business combination that will generate returns for shareholders. The company's financial indicators, such as negative free cash flow and zero revenue, underscore its pre-operational status, but its substantial trust account provides a solid foundation for future acquisitions.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$0
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Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$9.4M
+68.5%
-62.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
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Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
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Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
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Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-564445
-241.6%
+62.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
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Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
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Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.66x
-58.4%
-38.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
