---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-018901"
form_type: "8-K"
ticker: "CAPN"
cik: "0002024203"
company_name: "Cayson Acquisition Corp"
filed_at: "2025-07-14T23:59:59+00:00"
generated_at: "2026-05-18T06:47:25.326863+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Cayson SPAC to merge with Mango Financial; Mango valued at $300M pre-money

## Summary
- SPAC shareholders to receive one Company Class A share per SPAC share; Mango holders get 30M shares at $300M equity value.
- Up to 4M earnout shares contingent on net income targets for FY2025-2026; 4M indemnification shares escrowed for 2 years.
- PIPE financing of at least $5M required; closing conditions include SPAC vote, HKSFC approval, Nasdaq listing.
- Mango Financial (founded 1970) holds Hong Kong SFC Type 1,4,6,9 licenses; advised over 160 public listings.
- Mango shareholders subject to 6-month lock-up; early release if VWAP ≥ $12 for 20 days after 90 days.

## SEC filing metadata
- accession: 0001641172-25-018901
- form_type: 8-K
- ticker: CAPN
- cik: 0002024203
- company_name: Cayson Acquisition Corp
- filed_at: 2025-07-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2024203/000164117225018901/0001641172-25-018901-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2024203/000164117225018901/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-018901
- JSON: https://secwatch.observer/filing/0001641172-25-018901.json
- Plain text: https://secwatch.observer/filing/0001641172-25-018901.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.