Black Hawk Acquisition Corp

BKHAFinancial·Shell Companies·USA·Nano·NASD·Nov 11 • 1:24 PM ET

5.31+0.25 (4.88%)

2026-11-11 19:37 CET

Market cap

21.02 USD m

Revenue, TTM

0.00 USD m

Net income, TTM

1.30 USD m

Free cash flow, TTM

-0.56 USD m

EPS diluted, TTM

0.31

P/E

16.93

Compare

Price

BKHA against its 20, 50 and 200-day averages

2050200

76.9% under the 52-week high of 23.00 on 12 Oct 2026. 52-week low 3.70 on 19 Oct 2026. Last 15 sessions, 76.8% high to low

Profile

BKHA

52-week range, 8% of the way up

3.7023.00

Black Hawk Acquisition Corp. operates as a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded on September 28, 2023 and is headquartered in Danville, CA.

Employees	2
IPO	May 13, 2024
Beta	0.41
ATR, 14d	1.09
Rel volume	0.05
Short float	2.70%
Insider own	11.47%
Inst own	29.26%

Snapshot

6 groups

Valuation

Index	-
Market Cap	22.04M
Enterprise Value	24.11M
Income	1.30M
Sales	0.00M
Book/sh	5.12
Cash/sh	0.00
Dividend Est.	-
Dividend TTM	-
Dividend Ex-Date	-
Dividend Gr. 3/5Y	- -
Payout	0.00%
Employees	2
IPO	May 13, 2024

Ratios

P/E	16.93
Forward P/E	-
PEG	-
P/S	-
P/B	1.04
P/C	2204.48
P/FCF	-
EV/EBITDA	-
EV/Sales	-
Quick Ratio	0.02
Current Ratio	0.02
Debt/Eq	0.10
LT Debt/Eq	0.00
Option/Short	No / Yes

Earnings

EPS (ttm)	0.31
EPS next Y	-
EPS next Q	-
EPS this Y	-
EPS next Y	-
EPS next 5Y	-
EPS past 3/5Y	- -
Sales past 3/5Y	- -
EPS Y/Y TTM	29.83%
Sales Y/Y TTM	-
EPS Q/Q	926.98%
Sales Q/Q	-
Earnings	-
EPS/Sales Surpr.	- -

Ownership

Insider Own	11.47%
Insider Trans	0.00%
Inst Own	29.26%
Inst Trans	-
ROA	5.26%
ROE	6.30%
ROIC	6.11%
Gross Margin	-
Oper. Margin	-
Profit Margin	-
SMA20	3.93%
SMA50	-42.47%
SMA200	-49.83%
Trades	-

Technical

Shs Outstand	4.15M
Shs Float	3.68M
Short Float	2.70%
Short Ratio	3.05
Short Interest	0.10M
52W High	23.00 -76.93%
52W Low	3.70 43.42%
Volatility	16.28% 26.21%
ATR (14)	1.09
RSI (14)	40.59
Beta	0.41
Rel Volume	0.05
Avg Volume	32.52K
Volume	966

Performance

Perf Week	-4.73%
Perf Month	-57.48%
Perf Quarter	-54.95%
Perf Half Y	-54.68%
Perf YTD	-52.83%
Perf Year	-52.62%
Perf 3Y	-
Perf 5Y	-
Perf 10Y	-
Recom	-
Target Price	-
Prev Close	5.06
Price	5.31
Change %	4.88%

Key figures

Revenue, TTM	0.00
Net income, TTM	1.30
EPS diluted, TTM	0.31
EBIT, TTM	-0.52
Free cash flow, TTM	-0.56
Gross margin	-%
Operating margin	-%
Net margin	-%
Market cap	21.02
P/E	16.93
Sales Y/Y, TTM	-

USD millions. TTM from the statement feed.

Quarterly earnings

actual against estimate

Period	Reported	EPS act	EPS est	EPS rep	Sales act	Sales est	Analysts
No quarterly earnings.

Period

Reported

EPS act

EPS est

EPS rep

Sales act

Sales est

Analysts

No quarterly earnings.

Annual earnings

Period	EPS act	EPS est	EPS rep	Sales act	Sales est
No annual earnings.

Period

EPS act

EPS est

EPS rep

Sales act

Sales est

No annual earnings.

Estimate revisions

last 14 periods

Period	Type	Date	Estimates	Up	Down	Mean	Low	High
No estimate revisions.

Period

Type

Date

Estimates

Down

Mean

Low

High

No estimate revisions.

Estimate history

Period	2023	2024	2025	TTM
EPS, annual	-0.002	0.215	0.189	0.3134
EPS, quarterly	0.099	0.084	0.074	0.058	0.025	0	0.034	0.021	0.259
Period	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Sales, annual	0	0	0	0
Period	2023	2024	2025	TTM
Sales, quarterly	0	0	0	0	0	0	0	0	0
Period	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Shares, annual	8.93	8.93	8.93	4.154
Period	2023	2024	2025	MRQ
Shares, quarterly	8.93	8.93	8.93	8.93	4.154	8.93	4.154	4.154	4.154
Period	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26

Income statement, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY
Total Revenue	0.00	0.00	0.00	0.00
Cost of Goods Sold Incl. D&A	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00
Selling, General and Administrative Excl. Other	0.52	0.92	0.58	0.02
Other Operating Expense	0.00	0.00	0.00	0.00
Operating Income	-0.52	-0.92	-0.58	-0.02
Interest Expense	0.09	0.02	0.00	-
Unusual Expense	-1.01	-0.00	0.00	0.00
Net Income Before Taxes	1.30	1.33	1.92	-0.02
Income Taxes	0.00	0.00	0.00	0.00
Consolidated Net Income	1.30	1.33	1.92	-0.02
Net Income From Continuing Operations	1.30	1.33	1.92	-0.02
Net Income	1.30	1.33	1.92	-0.02
EPS (Recurring)	0.14	0.19	0.21	-0.00
EPS (Basic, Before Extraordinaries)	0.31	0.19	0.21	-0.00
EPS (Diluted)	0.31	0.19	0.21	-0.00
EBITDA	-0.52	-0.92	-0.58	-0.02
Non-Operating Income (Expense)	0.90	2.26	2.49	0.00
Other After Tax Adjustments	0.00	0.00	0.00	0.00
Price To Earnings Ratio	16.15	16.15	-	-
Shares Outstanding	4.15	8.93	8.93	8.93
Market Capitalization	21.02	21.02	92.51	92.51

Income statement, quarterly

Currency USD, millions
Metric	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cost of Goods Sold Incl. D&A	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General and Administrative Excl. Other	0.14	0.11	0.05	0.22	0.34	0.25	0.11	0.10
Other Operating Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income	-0.14	-0.11	-0.05	-0.22	-0.34	-0.25	-0.11	-0.10
Interest Expense	0.03	0.02	0.02	0.02	-	-	0.00	0.00
Unusual Expense	-1.02	0.00	0.00	0.00	-0.00	0.00	0.00	0.00
Net Income Before Taxes	1.07	0.09	0.14	-0.00	0.15	0.52	0.66	0.75
Income Taxes	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Consolidated Net Income	1.07	0.09	0.14	-0.00	0.15	0.52	0.66	0.75
Net Income From Continuing Operations	1.07	0.09	0.14	-0.00	0.15	0.52	0.66	0.75
Net Income	1.07	0.09	0.14	-0.00	0.15	0.52	0.66	0.75
EPS (Recurring)	0.09	0.02	0.03	-0.00	0.03	0.06	0.07	0.08
EPS (Basic, Before Extraordinaries)	0.26	0.02	0.03	-0.00	0.03	0.06	0.07	0.08
EPS (Diluted)	0.26	0.02	0.03	-0.00	0.03	0.06	0.07	0.08
EBITDA	-0.14	-0.11	-0.05	-0.22	-0.34	-0.25	-0.11	-0.10
Non-Operating Income (Expense)	0.23	0.22	0.21	0.23	0.49	0.77	0.77	0.85
Other After Tax Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price To Earnings Ratio	16.15	101.54	47.47	46.40	34.90	36.34	48.76	-
Shares Outstanding	4.15	4.15	4.15	8.93	4.15	8.93	8.93	8.93
Market Capitalization	21.02	49.22	47.60	46.52	45.69	94.65	93.40	92.51

Balance sheet, annual

Currency USD, millions
Metric	2025FY	2024FY	2023FY
Cash & Short Term Investments	0.04	0.26	0.13
Short Term Receivables	0.00	0.00	0.03
Inventories	0.00	0.00	0.00
Other Current Assets	0.01	0.05	0.00
Total Current Assets	0.05	0.31	0.16
Net Property, Plant & Equipment	0.00	0.00	0.00
Total Investments and Advances	23.83	71.83	0.00
Intangible Assets	0.00	0.00	0.00
Other Assets	0.00	0.00	0.11
Total Assets	23.88	72.14	0.26
Short Term Debt Incl. Current Port. of LT Debt	1.17	0.00	0.25
Accounts Payable	0.00	0.00	0.00
Other Current Liabilities	0.31	0.07	0.01
Total Current Liabilities	1.48	0.07	0.26
Long Term Debt	0.00	0.00	0.00
Provision for Risks Charges	0.00	0.00	0.00
Other Liabilities	2.42	2.42	0.00
Total Liabilities	3.90	2.49	0.26
Non-Equity Reserves	0.00	0.00	0.00
Preferred Stock - Carrying Value	0.00	0.00	0.00
Common Equity	19.98	69.66	0.01
Total Shareholders Equity	19.98	69.66	0.01
Accumulated Minority Interest	0.00	0.00	0.00
Total Equity	19.98	69.66	0.01
Total Liabilities & Stockholders Equity	23.88	72.14	0.26
Book Value Per Share	2.24	7.80	0.00
Tangible Book Value Per Share	2.24	7.80	0.00
Full-Time Employees	2	2	1
Price to Book Ratio	0.99	1.34	1.34
Return on Assets	2.77	5.29	-
Return on Equity	2.97	5.50	-
Return on Invested Capital	6.65	2.75	-306.70
Quick Ratio	0.03	4.42	0.61
Current Ratio	0.03	4.42	0.61

Cash flow, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY
Net Income	1.30	1.33	1.92	-0.02
Other Funds (Non Cash)	-1.91	-2.26	-2.48	0.01
Funds from Operations	-0.61	-0.93	-0.57	-0.01
Extraordinary Item	0.00	0.00	0.00	0.00
Changes in Working Capital	0.05	0.28	0.01	0.01
Cash from Operating Activities	-0.56	-0.65	-0.55	-0.00
Capital Expenditures	0.00	0.00	0.00	0.00
Net Assets From Acquisitions	0.00	0.00	0.00	0.00
Sale of Fixed Assets and Businesses	0.00	0.00	0.00	0.00
Purchase or Sale of Investments	0.00	0.00	-69.34	0.00
Purchase of Investments	0.00	0.00	-69.34	0.00
Sale Or Maturity of Investments	0.00	0.00	0.00	0.00
Other Uses	-1.80	-0.75	0.00	-0.03
Other Sources	0.00	51.01	0.00	0.00
Cash from Investing Activities	-1.80	50.26	-69.34	-0.03
Cash Dividends Paid	0.00	0.00	0.00	0.00
Change in Capital Stock	0.00	0.00	70.95	-0.09
Repurchase of Common Pref Stock	0.00	0.00	0.00	0.00
Sale of Common Pref Stock	0.00	0.00	70.95	-0.09
Proceedsfrom Stock Options	0.00	0.00	70.95	-0.09
Issuance or Reduction of Debt, Net	2.35	1.18	-0.25	0.25
Change in Long Term Debt	0.00	0.00	0.00	0.00
Issuance of Long Term Debt	0.00	0.00	0.00	0.00
Reduction of Long Term Debt	0.00	0.00	0.00	0.00
Net Financing Active Other Cash Flow	0.01	-51.01	-0.66	0.00
Other Financing Activities Uses	0.00	-51.01	-0.69	0.00
Cash from Financing Activities	2.36	-49.84	70.04	0.16
Net Change in Cash	-0.00	-0.23	0.14	0.13
Free Cash Flow	-0.56	-0.65	-0.55	-0.00
Preferred Dividends (Cash Flow)	-	0.00	0.00	0.00
Deferred Taxes & Investment Tax Credit	-	0.00	0.00	0.00

Balance sheet, quarterly

Currency USD, millions
Metric	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2
Cash & Short Term Investments	0.01	0.01	0.18	0.04	0.01	0.07
Short Term Receivables	0.00	0.00	0.00	0.00	0.00	0.00
Inventories	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.03	0.05	0.00	0.01	0.03	0.07
Total Current Assets	0.04	0.06	0.18	0.05	0.04	0.14
Net Property, Plant & Equipment	0.00	0.00	0.00	0.00	0.00	0.00
Total Investments and Advances	25.99	25.31	24.64	23.83	23.30	73.36
Intangible Assets	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	0.00	0.00	0.00	0.00	0.00	0.00
Total Assets	26.03	25.38	24.82	23.88	23.34	73.50
Short Term Debt Incl. Current Port. of LT Debt	2.08	2.54	2.02	1.17	0.75	0.25
Accounts Payable	0.13	0.15	0.23	0.00	0.00	0.00
Other Current Liabilities	0.13	0.06	0.03	0.31	0.20	0.00
Total Current Liabilities	2.34	2.75	2.29	1.48	0.95	0.25
Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Provision for Risks Charges	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	2.42	2.42	2.42	2.42	2.42	2.42
Total Liabilities	4.75	5.17	4.70	3.90	3.36	2.67
Non-Equity Reserves	0.00	0.00	0.00	0.00	0.00	0.00
Preferred Stock - Carrying Value	0.00	0.00	0.00	0.00	0.00	0.00
Common Equity	21.28	20.21	20.12	19.98	19.98	70.84
Total Shareholders Equity	21.28	20.21	20.12	19.98	19.98	70.84
Accumulated Minority Interest	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity	21.28	20.21	20.12	19.98	19.98	70.84
Total Liabilities & Stockholders Equity	26.03	25.38	24.82	23.88	23.34	73.50
Book Value Per Share	5.12	4.87	4.84	2.24	4.81	7.93
Tangible Book Value Per Share	5.12	4.87	4.84	2.24	4.81	7.93
Full-Time Employees	-	-	-	2	-	-
Price to Book Ratio	0.99	2.45	2.38	2.33	1.39	1.35
Return on Assets	5.26	0.77	1.66	2.77	4.40	3.91
Return on Equity	6.30	0.83	1.79	2.97	4.69	4.05
Return on Invested Capital	5.05	0.44	0.69	-0.02	0.77	0.73
Quick Ratio	0.02	0.02	0.08	0.03	0.05	0.56
Current Ratio	0.02	0.02	0.08	0.03	0.05	0.56

Cash flow, quarterly

Currency USD, millions
Metric	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2
Net Income	1.07	0.09	0.14	-0.00	0.15	0.52
Other Funds (Non Cash)	-1.25	-0.22	-0.21	-0.23	-0.50	-0.77
Funds from Operations	-0.17	-0.13	-0.07	-0.23	-0.34	-0.25
Extraordinary Item	0.00	0.00	0.00	0.00	0.00	0.00
Changes in Working Capital	0.06	-0.10	-0.04	0.13	0.23	-0.03
Cash from Operating Activities	-0.11	-0.24	-0.11	-0.10	-0.11	-0.28
Capital Expenditures	0.00	0.00	0.00	0.00	0.00	0.00
Net Assets From Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Fixed Assets and Businesses	0.00	0.00	0.00	0.00	0.00	0.00
Purchase or Sale of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Purchase of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Sale Or Maturity of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Other Uses	-0.45	-0.45	-0.60	-0.30	-0.45	0.00
Other Sources	0.00	0.00	0.00	0.00	51.01	0.00
Cash from Investing Activities	-0.45	-0.45	-0.60	-0.30	50.56	0.00
Cash Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00
Preferred Dividends (Cash Flow)	0.00	0.00	0.00	0.00	0.00	0.00
Change in Capital Stock	0.00	0.00	0.00	0.00	0.00	0.00
Repurchase of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00
Proceedsfrom Stock Options	0.00	0.00	0.00	0.00	0.00	0.00
Issuance or Reduction of Debt, Net	0.56	0.52	0.85	0.42	0.50	0.25
Change in Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Issuance of Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Reduction of Long Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Financing Active Other Cash Flow	0.01	0.00	0.00	0.00	-51.01	0.00
Other Financing Activities Uses	0.00	0.00	0.00	0.00	-51.01	0.00
Cash from Financing Activities	0.56	0.52	0.85	0.42	-50.51	0.25
Net Change in Cash	0.00	-0.17	0.14	0.02	-0.06	-0.03
Free Cash Flow	-0.11	-0.24	-0.11	-0.10	-0.11	-0.28

Revenue breakdown

Revenue split	-

Short interest

shares short against float, oldest to newest

Settlement	Of float	Shares short	Float	Avg volume
2026-10-30	2.70%	0.1M	3.7M	32.48K
2026-10-15	2.80%	0.1M	3.7M	24.22K
2026-09-30	0.01%	0.0M	3.7M	8.72K
2026-09-15	0.00%	0.0M	3.7M	2.31K
2026-08-31	0.01%	0.0M	3.7M	2.40K
2026-08-14	0.00%	0.0M	3.7M	3.02K
2026-07-31	0.00%	0.0M	3.7M	2.84K
2026-07-15	0.00%	0.0M	3.7M	2.79K
2026-06-30	0.00%	0.0M	3.7M	3.05K
2026-06-15	0.00%	0.0M	3.7M	2.99K
2026-05-29	0.00%	0.0M	3.7M	2.79K
2026-05-15	0.00%	0.0M	3.7M	2.58K
2026-04-30	0.00%	0.0M	3.7M	2.70K
2026-04-15	0.00%	0.0M	3.7M	3.96K
2026-03-31	0.00%	0.0M	3.7M	3.53K
2026-03-13	0.01%	0.0M	3.7M	2.92K
2026-02-27	0.00%	0.0M	3.7M	3.07K
2026-02-13	0.01%	0.0M	3.7M	2.28K
2026-01-30	0.00%	0.0M	3.7M	3.18K
2026-01-15	0.00%	0.0M	3.7M	2.43K

Option chain

expiry 2026-11-11

Type	Strike	Bid	Ask	Last	IV	Open int	Volume	Delta	Theta	Vega
No option chain for this symbol.

Type

Strike

Bid

Ask

Last

Open int

Volume

Delta

Theta

Vega

No option chain for this symbol.

Latest SEC filings

Filed	Form	Description	Period	Link
2026-11-09	SCHEDULE 13G/A			SEC
2026-11-05	SCHEDULE 13G/A			SEC
2026-10-23	8-K	Current report	2026-10-22	SEC
2026-10-13	8-K	Current report	2026-10-13	SEC
2026-10-07	SCHEDULE 13G/A			SEC
2026-10-06	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2026-08-31	SEC
2026-09-25	425	Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions.		SEC
2026-09-24	8-K	Current report	2026-09-22	SEC
2026-09-22	8-K	Current report	2026-09-22	SEC
2026-09-22	424B4			SEC
2026-09-17	EFFECT	Effectiveness filing by commission order		SEC
2026-09-04	S-4/A			SEC
2026-08-26	8-K	Current report	2026-08-21	SEC
2026-08-25	8-K	Current report	2026-08-21	SEC
2026-08-03	S-4/A			SEC
2026-07-22	8-K	Current report	2026-07-22	SEC
2026-07-15	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2026-05-31	SEC
2026-07-06	S-4/A			SEC
2026-06-11	S-4/A			SEC
2026-05-08	8-K	Current report	2026-05-04	SEC
2026-05-01	S-4/A			SEC
2026-04-28	10-K/A		2025-11-30	SEC
2026-04-21	10-Q	Quarterly report pursuant to Section 13 or 15(d)	2026-02-28	SEC
2026-04-14	NT 10-Q		2026-02-28	SEC
2026-04-01	8-K	Current report	2026-04-01	SEC
2026-03-17	8-K	Current report	2026-03-17	SEC
2026-03-06	10-K	Annual report pursuant to Section 13 or 15(d)	2025-11-30	SEC
2026-03-05	S-4/A			SEC
2026-03-02	NT 10-K		2025-11-30	SEC
2026-02-19	8-K	Current report	2026-02-19	SEC

Filed

Form

Description

Period

Link

2026-11-09

SCHEDULE 13G/A

Month	Bought	Buys	Sold	Sells
2026-11	0	0	0	0
2026-10	0	0	0	0
2026-09	0	0	0	0
2026-08	0	0	0	0
2026-07	0	0	0	0
2026-06	0	0	0	0
2026-05	0	0	0	0
2026-04	0	0	0	0
2026-03	0	0	0	0
2026-02	0	0	0	0
2026-01	0	0	0	0
2025-12	0	0	0	0
2025-11	0	0	0	0

Manager	% owned
MIZUHO SECURITIES USA LLC	18.00%
BERKLEY W R CORP	7.58%
WOLVERINE ASSET MANAGEMENT LLC	5.09%
AQR Arbitrage LLC	3.20%
BOOTHBAY FUND MANAGEMENT, LLC	2.89%
Westchester Capital Management, LLC	2.46%
Yakira Capital Management, Inc.	2.14%
Clear Street Group Inc.	1.96%
D. E. Shaw & Co., Inc.	1.81%
Warberg Asset Management LLC	1.69%

Fund	% owned
Virtus Westchester Credit Event Fund	2.46%
Calamos Market Neutral Income Fund	0.59%
CrossingBridge Ultra-Short Duration ETF	0.07%
Fidelity Nasdaq Composite Index Fund	0.01%
Calamos Merger Arbitrage Fund	0.00%