Private company

Papaya Growth Opportunity Corp. I

Papaya Growth Opportunity Corp. I is an American blank check company based in Oakland, incorporated in Delaware.2

Last updated Oct 20, 2026.

Overview

-$1.4MNet income, fiscal 20243
  • IndustryBlank Checks2
  • HeadquartersOakland, United States2
  • Incorporated inDE4
  • Business address52201 Broadway, Suite 750, Oakland, Ca 946124
  • Filer category, Emerging growth company4
  • Legal formCorporation2
  • LEI549300U6L3FU6EKJUM402
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O VCORP SERVICES, LLC, 19805 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 62927692

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We are an early-stage blank check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this Report as our initial business combination. Our team has collectively raised 7 SPACs, totaling $2,200,000,000 in trust capital, and has made extensive private market investments, including Square, Eventbrite, DigitalOcean, Calm and Gitlab.5 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

Net income63-$1.4M in 2024
-$2.0M-$1.0M0$1.0M$2.0M2022: $1.6M$1.6M20222023: $1.9M$1.9M2023+22%2024: -$1.4M-$1.4M2024
Fiscal year2021202220232024
Operating expenses$2.1M6$2.1M3$1.7M3
Income before tax$2.2M6$4.0M3-$1.2M3
Income tax$639.0K6$2.1M3$163.0K3
Net income$1.6M6$1.9M3-$1.4M3

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Corporate structure

Papaya Growth Opportunity Corp. I sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Papaya Growth Opportunity Corp. I

  • Alberta Investment Management Corporation Filed SC 13G/A on Papaya Growth Opportunity Corp. I, latest Nov 13, 2024 (2 filings since Feb 12, 2024)
  • Walleye Capital LLC Filed SC 13G/A on Papaya Growth Opportunity Corp. I, latest Apr 10, 2024 (3 filings since Feb 14, 2024)
  • Saba Capital Management, L.P. Filed SC 13G/A on Papaya Growth Opportunity Corp. I, latest Feb 8, 2024 (3 filings since Jan 24, 2022)
  • MMCAP International Inc. SPC Filed SC 13G/A on Papaya Growth Opportunity Corp. I, latest Feb 14, 2023 (2 filings since Jan 25, 2022)
  • Papaya Growth Opportunity I Sponsor, LLC Filed SC 13D on Papaya Growth Opportunity Corp. I, latest Jan 27, 2022
  • Papaya Growth Opportunity Corp. I Oakland, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Papaya Growth Opportunity Corp. I 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$5.6K3 Dec 31, 2024$2.0K3 Dec 31, 2023+177.0%

Properties, in its own words

Our executive offices are located at 3500 South Dupont Highway, Suite HX-102, Dover, DE 19901 and our telephone number is (510) 214-3750. Our executive offices are provided to us by our sponsor. The cost of our use of this space is included in the $14,500 per month we pay to our sponsor for office space, utilities, secretarial and administrative support. We consider our current office space adequate for our current operations.

Item 2 of the 10-K filed Apr 15, 2025.5

Leadership

Who has led Papaya Growth Opportunity Corp. I, and when. Pick a name to see everywhere that person has worked.

President

  1. Alex Spiro2022

Chief financial officer

  1. Daniel C. Rogers2022
2025
Board members and other officers (7)

Timeline

  1. Jul 27, 20268-K Change of auditor20
  2. Jun 18, 20268-K Ended a material agreement21
  3. Dec 17, 20258-K Entered a material agreement; Bylaws or fiscal year changed; Shareholder vote22
  4. Oct 2, 20258-K Entered a material agreement; Ended a material agreement23
  5. Apr 25, 20258-K Entered a material agreement24
  6. Apr 21, 20258-K Regulation FD disclosure; Other events25
  7. Mar 20, 20258-K Executive or director change26
  8. Jan 17, 20258-K Entered a material agreement; Listing notice or transfer; Bylaws or fiscal year changed27
  9. Jun 7, 20248-K Listing notice or transfer; Regulation FD disclosure28
  10. May 24, 20248-K Earlier financial statements no longer reliable29
  11. Feb 20, 20248-K Entered a material agreement; Bylaws or fiscal year changed; Shareholder vote30
  12. Feb 12, 20248-K Other events31

Filings

102 filings to the SEC since October 2021: 5 annual reports, 12 quarterly reports, 23 major events, 16 insider forms, 11 large holders, 35 other. The latest 20:

  1. Jul 27, 20268-K EDGAR
  2. Jul 17, 202610-Q EDGAR
  3. Jun 22, 202610-Q EDGAR
  4. Jun 18, 2026425 EDGAR
  5. Jun 18, 20268-K EDGAR
  6. Dec 17, 2025425 EDGAR
  7. Dec 17, 20258-K EDGAR
  8. Dec 9, 202510-Q EDGAR
  9. Nov 24, 2025DEF 14C EDGAR
  10. Nov 13, 2025PRE 14C EDGAR
  11. Oct 2, 2025425 EDGAR
  12. Oct 2, 20258-K EDGAR
  13. May 15, 2025NT 10-Q EDGAR
  14. Apr 25, 20258-K EDGAR
  15. Apr 21, 20258-K EDGAR
  16. Apr 15, 202510-K EDGAR
  17. Mar 31, 2025NT 10-K EDGAR
  18. Mar 20, 20258-K EDGAR
  19. Jan 17, 20258-K EDGAR
  20. Dec 27, 2024DEF 14A 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

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 19, 2022Whitehead ClayChief Executive OfficerBuy1,115,500Form 4
Jan 19, 2022Papaya Growth Opportunity I Sponsor, LLC10% ownerBuy1,115,500Form 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 Papaya Growth Opportunity Corp. I is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPapaya Growth Opportunity Corp. I1
  • CIK0001894057
  • Employer ID (EIN)87-30711075
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6770 Blank Checks1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address52201 Broadway, Suite 750, Oakland, CA 946121
  • Phone510-214-37511
  • Shares outstanding8,239,404 Common Class A shares as of Apr 14, 20255
  • Public float$8.3M as of Jun 28, 20245
  • AuditorCitrin Cooperman & Company, LLP, New York, NY PCAOB ID 2468; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceNov 24, 20211
  • Filings103 in all: 8-K (22), 10-Q (12), 3 (12), SC 13G/A (6), 10-K (4), 4 (4), DEF 14A (4), PRE 14A (4)1
    All 27 form types

    S-1/A (4), SC 13G (4), 425 (3), CORRESP (3), DEFA14A (3), NT 10-Q (3), UPLOAD (3), 10-K/A (1), 25-NSE (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), DEF 14C (1), EFFECT (1), NT 10-K (1), PRE 14C (1), S-1 (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2025
    Quarterly report (10-Q) Jul 17, 2026
    Proxy statement (DEF 14A) Dec 27, 2024
    Latest 8-K (8-K) Jul 27, 2026

Securities registered for trading

ClassSymbolExchange
Units, each consisting of one share of Class A common stock, par value $0.0001 per share, and one-half of one RedeemablePPYAU
Shares of Class A common stock, par value $0.0001 per share, included as part of the UnitsPPYA
Redeemable Warrants, each exercisable for one share of Class A common stock for $11.50 per share, included as part of the UnitsPPYAW

From the cover page of the 10-K filed Apr 15, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Papaya Growth Opportunity Corp. I names in Item 1A of its 10-K filed Apr 15, 2025: 78 risks under these headings, as written.5

  • You should consider carefully all of the risks described below, which we believe are the principal risks that we face and of which we are currently aware, and all of the other information contained in this Report. If any of the events or developments described below occur, our business, financial condition or results of operations could be negatively affected.
  • Risks Relating to our Search for, Consummation of, or Inability to Consummate, a Business Combination and Post-Business Combination Risks
  • We may not be able to complete our initial business combination within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares and liquidate, in which case our public stockholders may only receive $10.20 per share, or less than such amount in certain circumstances, and our warrants will expire worthless.
  • Our public stockholders may not be afforded an opportunity to vote on our proposed initial business combination, which means we may complete our initial business combination even though a majority of our public stockholders do not support such a combination.
  • If we seek stockholder approval of our initial business combination, our initial stockholders have agreed to vote their founder shares and private placement shares in favor of such initial business combination, regardless of how our public stockholders vote.
  • Concentration of ownership in our sponsor may prevent other investors from influencing significant corporate decisions or adversely affect the trading price of our common stock.
  • If we seek stockholder 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 stockholders are deemed to hold in excess of 15% of our Class A common stock, you will lose the ability to redeem all such shares in excess of 15% of our Class A common stock.
  • Our securities are no longer listed for trading on Nasdaq, which may limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • Your only opportunity to affect the investment decision regarding a potential business combination will be limited to the exercise of your right to redeem your shares from us for cash, unless we seek stockholder approval of the initial business combination.
  • The ability of our public stockholders to redeem their shares for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult for us to enter into an initial business combination with a target.
  • The ability of our public stockholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or optimize our capital structure.
  • The ability of our public stockholders 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 stock.
The other 66 risks
  • The requirement that we complete our initial business combination within the prescribed time frame may give potential target businesses leverage over us in negotiating an initial business combination and may decrease our ability to conduct due diligence on potential business combination targets as we approach our dissolution deadline, which could undermine our ability to complete our initial business combination on terms that would produce value for our stockholders.
  • If we seek stockholder approval of our initial business combination, our sponsor, directors, officers, advisors and their affiliates may elect to purchase shares or warrants from public stockholders, which may influence a vote on a proposed initial business combination and reduce the public “float” of our Class A common stock.
  • If a stockholder 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 tendering its shares, such shares may not be redeemed.
  • Our search for a business combination, and any target business with which we ultimately consummate a business combination, may be materially adversely affected by current or anticipated military conflict, including between Russia and Ukraine, terrorism, sanctions or other geopolitical events globally, the COVID 19 pandemic, including new variant strains of the underlying virus, and the status of debt and equity markets.
  • We may not be able to complete our initial business combination within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares and liquidate, in which case our public stockholders may only receive approximately $10.20 per share, or less than such amount in certain circumstances, and our warrants will expire worthless.
  • There may at times be more competition to find an attractive target for an initial business combination. This could increase the costs associated with completing our initial business combination and may result in our inability to find a suitable target for our initial business combination.
  • We may issue our shares to investors in connection with our initial business combination at a price that is less than the prevailing market price of our shares at that time.
  • You will not have any rights or interests in funds from the trust account, except under certain limited circumstances. To liquidate your investment, therefore, you may be forced to sell your public shares or warrants, potentially at a loss.
  • You will not be entitled to protections normally afforded to investors of many other blank check companies.
  • Because of our limited resources and the significant competition for business combination opportunities, it may be more difficult for us to complete our initial business combination. If we are unable to complete our initial business combination, our public stockholders may receive only approximately $10.20 per share on our redemption of our public shares, or less than such amount in certain circumstances, and our warrants will expire worthless.
  • If the funds not being held in the trust account are insufficient, 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 for an initial business combination, to pay our taxes and to complete our initial business combination. If we are unable to obtain these loans, we may be unable to complete our initial business combination.
  • Subsequent to the 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 stock price, which could cause you to lose some or all of your investment.
  • 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 stockholders 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 stockholders.
  • We may not have sufficient funds to satisfy indemnification claims of our directors and executive officers.
  • If, after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, a bankruptcy court may seek to recover such proceeds, and we and our board may be exposed to claims of punitive damages.
  • If, before distributing the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over the claims of our stockholders and the per-share amount that would otherwise be received by our stockholders in connection with our liquidation may be reduced.
  • Our stockholders 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 not hold an annual meeting of stockholders until after the consummation of our initial business combination, which could delay the opportunity for our stockholders to elect directors.
  • Because we are neither limited to evaluating a target business in a particular industry sector nor have we selected any specific target businesses with which to pursue our initial business combination, you will be unable to ascertain the merits or risks of any particular target business’s operations.
  • Although we have identified general criteria and guidelines that we believe are important in evaluating prospective target businesses, we may enter into our initial business combination with a target that does not meet such criteria and guidelines, and as a result, the target business with which we enter into our initial business combination may not have attributes entirely consistent with our general criteria and guidelines.
  • We may seek business combination opportunities with a financially unstable business or 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.
  • We are not required to obtain a fairness opinion, and consequently, you may have no assurance from an independent source that the price we are paying for the business is fair to our company from a financial point of view.
  • Because we must furnish our stockholders with target business financial statements, we may lose the ability to complete an otherwise advantageous initial business combination with some prospective target businesses.
  • 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.
  • We do not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for us to complete an initial business combination with which a substantial majority of our stockholders do not agree.
  • In order to effectuate an initial business combination, blank check 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 certificate of incorporation or governing instruments in a manner that will make it easier for us to complete our initial business combination that our stockholders 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.
  • Our initial stockholders exert a substantial influence on actions requiring a stockholder vote, potentially in a manner that you do not support.
  • Resources could be wasted in researching business combinations that are not completed, which could materially adversely affect subsequent attempts to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public stockholders may receive only approximately $10.20 per share, or less than such amount in certain circumstances, on the liquidation of our trust account and our warrants will expire worthless.
  • We may have a limited ability to assess the management of a prospective target business and, as a result, may affect our initial business combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company, which could, in turn, negatively impact the value of our stockholders’ investment in us.
  • Our ability to successfully effect our initial business combination and to be successful thereafter will be totally 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.
  • If we effect our initial business combination with a company with operations or opportunities outside of the United States, we would be subject to a variety of additional risks that may negatively impact our operations.
  • We may issue notes or other debt securities, or otherwise incur substantial debt, to complete an initial business combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our stockholders’ investment in us.
  • We may 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 services and limited operating activities. This lack of diversification may negatively impact our operating results 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.
  • We may attempt to complete our initial business combination with a private company about which little information is available, which may result in an initial business combination with a company that is not as profitable as we suspected, if at all.
  • Cyber incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss.
  • Our initial business combination and our structure thereafter may not be tax-efficient to our stockholders and warrant holders. As a result of our initial business combination, our tax obligations may be more complex, burdensome and uncertain.
  • Risks Relating to our Sponsor and Management Team
  • Our key personnel may negotiate employment or consulting agreements as well as reimbursement of out-of-pocket expenses, if any, with a target business in connection with a particular business combination. These agreements may provide for them to receive compensation or reimbursement for out-of-pocket expenses, if any, 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.
  • Past performance by members of our management team or our advisors or any of their respective affiliates may not be indicative of future performance of an investment in the Company.
  • We may seek business combination opportunities in industries or sectors which may or may not be outside of our management’s area of expertise.
  • We are dependent upon our executive officers and directors and their departure could adversely affect our ability to operate.
  • 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, directors and advisors or their affiliates have pre-existing fiduciary and contractual obligations and may in the future become affiliated with other entities engaged in business activities similar to those intended to be conducted by us. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented.
  • Members of our management team and board of directors have significant experience as founders, board members, officers, executives or employees of other companies. Certain of those persons have been, may be, or may become, involved in litigation, investigations or other proceedings, including related to those companies or otherwise. The defense or prosecution of these matters could be time-consuming and could divert our management’s attention, and may have an adverse effect on us, which may impede our ability to consummate an initial business combination.
  • Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.
  • Since our officers and directors will be eligible to share in a portion of any appreciation in founder shares purchased at an original purchase price of approximately $0.003 per share, a conflict of interest may arise in determining whether a particular business combination target is appropriate for 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.
  • We may engage in an initial 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.
  • Our management may not be able to maintain control of a target business after our initial business combination.
  • Risks Relating to Our Securities
  • 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.
  • We may issue additional common stock or preferred stock to complete our initial business combination or under an employee incentive plan after completion of our initial business combination. Any such issuances would dilute the interest of our stockholders and likely present other risks.
  • Recent volatility in capital markets and lower market prices for our securities may affect our ability to obtaining financing for our initial business combination through sales of shares of our common stock or issuance of indebtedness.
  • If you exercise your public warrants on a “cashless basis,” you will receive fewer shares of Class A common stock from such exercise than if you were to exercise such warrants for cash.
  • Holders of warrants will not participate in liquidating distributions if we are unable to complete an initial business combination within the required time period.
  • 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 a majority 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 shares of our Class A common stock purchasable upon exercise of a warrant could be decreased, all without your approval.
  • Because each unit contains one-half of one redeemable warrant and only a whole warrant may be exercised, the units may be worth less than units of other blank check companies.
  • Provisions in our amended and restated certificate of incorporation and Delaware law may have the effect of discouraging lawsuits against our directors and officers.
  • 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 common stock and make it more difficult to effectuate our initial business combination.
  • Our warrant agreement designates the courts of the State of New York or the United States District Court of 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.
  • We have registered the offer and sale of the Class A common stock underlying the public warrants under the Securities Act, however we cannot assure you that such registration will be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its warrants except on a cashless basis and potentially causing such warrants to expire worthless.
  • Certain provisions of our warrant agreement may make it more difficult for us to consummate an initial business combination.
  • The grant of registration rights to our initial stockholders 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 common stock.
  • Provisions in our amended and restated certificate of incorporation and Delaware law may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for our Class A common stock and could entrench management.

Legal proceedings

To the knowledge of our management team, there is no litigation currently pending or contemplated against us, any of our officers or directors in their capacity as such or against any of our property.

The opening of Item 3, Legal Proceedings.5

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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