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Private company

Perception Capital Corp. IV

Perception Capital Corp. IV is a gold and Silver Ores company.1 It is headquartered in Minneapolis, Minnesota.1

Last updated Oct 21, 2026.

Overview

$703.0KNet income, fiscal 20242
  • IndustryGold and Silver Ores1
  • HeadquartersMinneapolis, Minnesota1
  • Business address3109 W. 50Th Street, #207, Minneapolis, Mn 554103
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3

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Act”) because we have no operations and nominal assets consisting almost entirely of cash.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income52-$2.1M in 2024−7% since 2022
-$6.0M-$4.0M-$2.0M02022: -$2.3M-$2.3M20222023: -$4.6M-$4.6M2023+99%2024: -$2.1M-$2.1M2024−53%
Net income52$703.0K in 2024−95% since 2022
0$5.0M$10.0M$15.0M2022: $13.8M$13.8M20222023: $5.1M$5.1M2023−63%2024: $703.0K$703.0K2024−86%
Fiscal year2021202220232024
Operating income-$2.3M5-$4.6M2-$2.1M2
Net income$13.8M5$5.1M2$703.0K2

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Corporate structure

Perception Capital Corp. IV sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Perception Capital Corp. IV

  • Perception Capital Corp. IV Minneapolis, Minnesota

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Perception Capital Corp. IV reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$222.6K5 Dec 31, 2023$41.3K9 Dec 31, 2022+439.3%
Deposits held (banks)$2.5M5 Dec 31, 2023$3.4M9 Dec 31, 2022−27.4%

Properties, in its own words

We maintain executive offices at 3109 W. 50th Street Minneapolis, Minnesota 55410. We consider our current office space, combined with the office space otherwise available to our executive officers, adequate for our current operations.

Item 2 of the 10-K filed Mar 28, 2025.4

Leadership

Who has led Perception Capital Corp. IV, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Shah S. Sunny2021–2023

Chief financial officer

  1. Thomas Boehlert2021–2023
2025
Board members and other officers (8)

Former names

  • RCF Acquisition Corp.Aug 3, 2021 to Apr 2, 20243

Timeline

  1. Mar 11, 20258-K Shareholder vote; Other events18
  2. Nov 20, 20248-K Listing notice or transfer; Bylaws or fiscal year changed; Shareholder vote19
  3. Nov 14, 20248-K Entered a material agreement20
  4. Sep 30, 20248-K Entered a material agreement; Ended a material agreement; New debt or obligation21
  5. Sep 11, 20248-K Entered a material agreement; Unregistered sale of shares22
  6. Aug 27, 20248-K Listing notice or transfer23
  7. Aug 26, 20248-K Earlier financial statements no longer reliable24
  8. Jun 14, 20248-K Entered a material agreement25
  9. May 3, 20248-K Entered a material agreement26
  10. Apr 22, 20248-K Earlier financial statements no longer reliable27
  11. Mar 22, 20248-K Shareholder vote28
  12. Jan 25, 20248-K Listing notice or transfer29
  13. Nov 9, 2021New chief executive Shah S. Sunny becomes CEO10

Filings

102 filings to the SEC since October 2021: 5 annual reports, 9 quarterly reports, 25 major events, 18 insider forms, 12 large holders, 33 other. The latest 20:

  1. Mar 28, 202510-K ANNUAL REPORT EDGAR
  2. Mar 11, 20258-K CURRENT REPORT EDGAR
  3. Feb 13, 2025DEFM14A PROXY STATEMENT EDGAR
  4. Dec 17, 202410-Q QUARTERLY REPORT EDGAR
  5. Nov 20, 20248-K CURRENT REPORT EDGAR
  6. Nov 15, 2024NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  7. Nov 14, 2024425 CURRENT REPORT EDGAR
  8. Nov 14, 20248-K CURRENT REPORT EDGAR
  9. Nov 14, 2024SC 13G EDGAR
  10. Oct 31, 2024DEF 14A PROXY STATEMENT EDGAR
  11. Oct 4, 2024PRE 14A PROXY STATEMENT EDGAR
  12. Sep 30, 20248-K CURRENT REPORT EDGAR
  13. Sep 12, 202410-Q QUARTERLY REPORT EDGAR
  14. Sep 11, 20248-K CURRENT REPORT EDGAR
  15. Aug 30, 202410-K/A AMENDMENT NO. 1 TO FORM 10-K EDGAR
  16. Aug 27, 20248-K CURRENT REPORT EDGAR
  17. Aug 26, 20248-K CURRENT REPORT EDGAR
  18. Aug 14, 2024NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  19. Jun 14, 2024425 CURRENT REPORT EDGAR
  20. Jun 14, 20248-K CURRENT REPORT EDGAR

The 102 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 6, 2023RCF VII Sponsor LLC10% ownerSale1,673,750Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Perception Capital Corp. IV is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPerception Capital Corp. IV1
  • CIK0001870143
  • Employer ID (EIN)00-00000004
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)1040 Gold and Silver Ores1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address3109 W. 50Th Street, #207, Minneapolis, MN 554101
  • Phone(952) 456-53001
  • Shares outstanding6,838,552 Common Class A shares; 6,505,624 Non Redeemable Class A Ordinary Shares shares as of Mar 27, 20254
  • Public float$54.1M as of Jun 30, 20244
  • AuditorWithumSmith+Brown, PC, New York PCAOB ID 100; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 3, 20211
  • Filings105 in all: 8-K (25), 4 (10), 10-Q (9), 3 (8), 425 (7), SC 13G (7), SC 13G/A (5), 10-K (4)1
    All 26 form types

    DEF 14A (4), UPLOAD (4), CORRESP (3), NT 10-Q (3), PRE 14A (3), 10-K/A (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERT (1), DEFA14A (1), DEFM14A (1), DRS (1), EFFECT (1), NT 10-K (1), PRER14A (1), S-1 (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Mar 28, 2025
    Quarterly report (10-Q) Dec 17, 2024
    Proxy statement (DEF 14A) Oct 31, 2024
    Latest 8-K (8-K) Mar 11, 2025

Risk factors and legal proceedings

The risks Perception Capital Corp. IV names in Item 1A of its 10-K filed Mar 28, 2025: 75 risks under these headings, as written.4

  • Risks Relating to our Search for, and Consummation of or Inability to Consummate, a Business Combination
  • We are a blank check company with no operating history and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.
  • Our public shareholders may not be afforded an opportunity to vote on our proposed initial business combination, and even if we hold a vote, holders of our Founder Shares will participate in such vote, which means we may complete our initial business combination even though a majority of our public shareholders do not support such a combination.
  • If we seek shareholder approval of our initial business combination, our initial shareholders and management team have agreed to vote in favor of such initial business combination, regardless of how our public shareholders vote.
  • The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to optimize our capital structure.
  • We have identified a material weaknesses that have caused management to conclude that, as of December 31, 2024, our disclosure controls and procedures, and our internal control over financial reporting, were not effective at the reasonable assurance level.
  • The ability of our public shareholders to exercise redemption rights with respect to a large number of our shares could increase the probability that our initial business combination would be unsuccessful and that you would have to wait for liquidation in order to redeem your shares.
  • Our completion of the Business Combination, may be materially adversely affected by the recent coronavirus (COVID-19) outbreak and the status of debt and equity markets, as well as protectionist legislation in our target markets.
  • We may not be able to complete the Business Combination by November 15, 2025 in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares and liquidate.
  • If a shareholder fails to receive notice of our offer to redeem our public shares in connection with our initial Business Combination, or fails to comply with the procedures for submitting or tendering its shares, such shares may not be redeemed.
  • If we seek shareholder approval of our initial business combination and we do not conduct redemptions pursuant to the tender offer rules, and if you or a “group” of shareholders are deemed to hold in excess of 15% of our Class A ordinary shares, you will lose the ability to redeem all such shares in excess of 15% of our Class A ordinary shares.
  • If we do not complete our initial business combination, our public shareholders may receive only their pro rata portion of the funds in the Trust Account that are available for distribution to public shareholders, and our warrants will expire worthless.
The other 63 risks
  • If the net proceeds of the Public Offering and the sale of the Private Placement Warrants not being held in the Trust Account are insufficient to allow us to operate at least until April 15, 2025, it could limit the amount available to fund our search for a target business or businesses and complete our initial business combination, and we will depend on loans from our Sponsor or management team to fund our search and to complete our initial business combination.
  • Changes in the market for directors’ and officers’ liability insurance could make it more difficult and more expensive for us to negotiate and complete an initial business combination.
  • If third parties bring claims against us, the proceeds held in the Trust Account could be reduced and the per-share redemption amount received by shareholders may be less than $10.20 per share.
  • Our directors may decide not to enforce the indemnification obligations of our Sponsor, resulting in a reduction in the amount of funds in the Trust Account available for distribution to our public shareholders.
  • Our financial condition raises substantial doubt about our ability to continue as a “going concern.”
  • The securities in which we invest the proceeds held in the trust account could bear a negative rate of interest, which could reduce the interest income available for payment of taxes or reduce the value of the assets held in trust such that the per share redemption amount received by shareholders may be less than $10.20 per share.
  • If, after we distribute the proceeds in the Trust Account to our public shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against us that is not dismissed, a bankruptcy or insolvency court may seek to recover such proceeds, and the members of our board of directors may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members of our board of directors and us to claims of punitive damages.
  • If, before distributing the proceeds in the Trust Account to our public shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over the claims of our shareholders and the per-share amount that would otherwise be received by our shareholders in connection with our liquidation may be reduced.
  • If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our initial business combination.
  • Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations.
  • If we are unable to consummate the Business Combination by April 15, 2025 (or as late as November 15, 2025 if the requisite deposits into the Trust Account are made), our public shareholders may be forced to wait beyond such date before redemption from our Trust Account.
  • Our shareholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption of their shares.
  • We may seek business combination opportunities with an entity lacking an established record of revenue, cash flow or earnings, which could subject us to volatile revenues, cash flows or earnings or difficulty in retaining key personnel.
  • Our letter agreement with our Sponsor, officers and directors may be amended without shareholder approval.
  • Our initial shareholders control a substantial interest in us and thus may exert a substantial influence on actions requiring a shareholder vote, potentially in a manner that you do not support.
  • A provision of our warrant agreement may make it more difficult for us to consummate an initial business combination.
  • Compliance obligations under the Sarbanes-Oxley Act may make it more difficult for us to effectuate our initial business combination, require substantial financial and management resources, and increase the time and costs of completing an initial business combination.
  • Our initial business combination and our structure thereafter may not be tax-efficient to our shareholders and warrant holders. As a result of our business combination, our tax obligations may be more complex, burdensome and uncertain.
  • Any negative developments involving our Sponsor, management, directors and companies with which they are currently or have been affiliated, including civil disputes, litigation, government or other investigations or other actual or alleged misconduct, unrelated to our business affairs could materially impact our ability to consummate an initial business combination.
  • Past performance by members of our management team or their respective affiliates may not be indicative of future performance of an investment in us.
  • Risks Relating to the Post-Business Combination Company
  • Subsequent to our completion of our initial business combination, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our share price, which could cause you to lose some or all of your investment.
  • We are dependent upon our officers and directors and their loss could adversely affect our ability to operate.
  • Our ability to successfully effect our initial business combination and to be successful thereafter will be dependent upon the efforts of our key personnel, some of whom may join us following our initial business combination. The loss of key personnel could negatively impact the operations and profitability of our post-combination business.
  • After our initial business combination, it is possible that a majority of our directors and officers will live outside the United States and all of our assets will be located outside the United States; therefore investors may not be able to enforce federal securities laws or their other legal rights.
  • Our key personnel may negotiate employment or consulting agreements with a target business in connection with a particular business combination, and a particular business combination may be conditioned on the retention or resignation of such key personnel. These agreements may provide for them to receive compensation following our initial business combination and as a result, may cause them to have conflicts of interest in determining whether a particular business combination is the most advantageous.
  • We may have a limited ability to assess the management of a prospective target business and, as a result, may effect our initial business combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company.
  • The officers and directors of an acquisition candidate may resign upon completion of our initial business combination. The loss of a business combination target’s key personnel could negatively impact the operations and profitability of our post-combination business.
  • We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us.
  • We will only be able to complete one business combination, which will cause us to be solely dependent on a single business which may have a limited number of products or services. This lack of diversification may negatively impact our operations and profitability.
  • We may attempt to simultaneously complete business combinations with multiple prospective targets, which may hinder our ability to complete our initial business combination and give rise to increased costs and risks that could negatively impact our operations and profitability.
  • Our initial business combination agreement is with a private company about which little information is available, which may result in a business combination with a company that is not as profitable as we suspected, if at all.
  • We do not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for us to complete our initial business combination with which a substantial majority of our shareholders do not agree.
  • In order to effectuate an initial business combination, special purpose acquisition companies have, in the recent past, amended various provisions of their charters and other governing instruments, including their warrant agreements. We cannot assure you that we will not seek to amend our amended and restated memorandum and articles of association or governing instruments in a manner that will make it easier for us to complete our initial business combination and that our shareholders may not support.
  • We may be unable to obtain additional financing to complete our initial business combination or to fund the operations and growth of a target business, which could compel us to restructure or abandon a particular business combination.
  • Risks Relating to Acquiring and Operating a Business in Foreign Countries
  • We intend on effecting our initial business combination with a company located outside of the United States and, as such, we could be subject to a variety of additional risks that may adversely affect us.
  • After our initial business combination, substantially all of our assets will be located in a foreign country and substantially all of our revenue will be derived from our operations in such country. Accordingly, our results of operations and prospects will be subject, to a significant extent, to the economic, political and legal policies, developments and conditions in the country in which we operate.
  • Exchange rate fluctuations and currency policies may cause the target business’s ability to succeed in the international markets to be diminished.
  • Risks Relating to our Management Team
  • We may not have sufficient funds to satisfy indemnification claims of our directors and officers.
  • Past performance by our management team and their affiliates, including investments and transactions in which they have participated and businesses with which they have been associated, may not be indicative of future performance of an investment in the Company.
  • Our officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial business combination.
  • Our officers and directors presently have, and any of them in the future may have additional, fiduciary or contractual obligations to other entities and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity should be presented.
  • Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.
  • We may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated with our Sponsor, officers, directors or existing holders which may raise potential conflicts of interest.
  • If our management following our initial business combination is unfamiliar with United States securities laws, they may have to expend time and resources becoming familiar with such laws, which could lead to various regulatory issues.
  • Risks Relating to our Securities
  • You will not have any rights or interests in funds from the Trust Account, except under certain limited circumstances. Therefore, to liquidate your investment, you may be forced to sell your public shares or warrants, potentially at a loss.
  • You may only be able to exercise your public warrants on a “cashless basis” under certain circumstances, and if you do so, you will receive fewer Class A ordinary shares from such exercise than if you were to exercise such warrants for cash.
  • The grant of registration rights to our initial shareholders and holders of our Private Placement Warrants may make it more difficult to complete our initial business combination, and the future exercise of such rights may adversely affect the market price of our Class A ordinary shares
  • We may issue additional Class A ordinary shares or preferred shares to complete our initial business combination or under an employee incentive plan after completion of our initial business combination. We may also issue Class A ordinary shares upon the conversion of the Founder Shares at a ratio greater than one-to-one at the time of our initial business combination as a result of the anti-dilution provisions contained therein. Any such issuances would dilute the interest of our shareholders and likely present other risks.
  • Unlike some other similarly structured special purpose acquisition companies, our initial shareholders will receive additional Class A ordinary shares if we issue certain shares to consummate an initial business combination.
  • We may amend the terms of the warrants in a manner that may be adverse to holders of public warrants with the approval by the holders of at least 50% of the then outstanding public warrants. As a result, the exercise price of your warrants could be increased, the exercise period could be shortened and the number of Class A ordinary shares purchasable upon exercise of a warrant could be decreased, all without your approval.
  • Our warrant agreement designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our Company.
  • Our amended and restated memorandum and articles of association provide that the courts of the Cayman Islands will be the exclusive forums for certain disputes between us and our shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for complaints against us or our directors, officers or employees.
  • We may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants worthless.
  • Our warrants may have an adverse effect on the market price of our Class A ordinary shares and make it more difficult to effectuate our initial business combination.
  • Our warrants are expected to be accounted for as a warrant liability and will be recorded at fair value upon issuance with changes in fair value each period reported in earnings, which may have an adverse effect on the market price of our Class A ordinary shares or may make it more difficult for us to consummate an initial business combination.
  • Because each unit contains one-half of one warrant and only a whole warrant may be exercised, the Units may be worth less than Units of other special purpose acquisition companies.
  • General Risk Factors
  • We are an emerging growth company and a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies or smaller reporting companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • Provisions in our amended and restated memorandum and articles of association may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for our Class A ordinary shares and could entrench management.
  • Because we are incorporated under the laws of the Cayman Islands, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. Federal courts may be limited.
  • Cyber incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss.
  • We are subject to changing law and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and the risk of non-compliance.
  • We may be exposed to liabilities under the Foreign Corrupt Practices Act, and any determination that we violated the Foreign Corrupt Practices Act could have a material adverse effect on our business.
  • We may not be able to complete an initial business combination since such initial business combination may be subject to regulatory review and approval requirements, including pursuant to foreign investment regulations and review by governmental entities such as the Committee on Foreign Investment in the United States (“CFIUS”), or may be ultimately prohibited.

Legal proceedings

As of December 31, 2024, to the knowledge of our management, there was no material litigation, arbitration or governmental proceeding pending against us or any members of our management team in their capacity as such, and we and the members of our management team have not been subject to any such proceeding.

The opening of Item 3, Legal Proceedings.4

Sources

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