Overview

Dynamix I is a blank check company incorporated in the Cayman Islands on June 20, 2025. The company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. Dynamix I intends to use cash derived from the proceeds of its initial public offering (IPO) and the sale of private placement units to complete its business combination.

Results of Operations

Dynamix I has not engaged in any operations or generated any revenues to date. The company’s only activities from June 20, 2025 (inception) through September 30, 2025 were organizational activities and those necessary to prepare for the IPO. Dynamix I does not expect to generate any operating revenues until after the completion of its business combination.

For the three months ended September 30, 2025 and the period from June 20, 2025 (inception) through September 30, 2025, Dynamix I had a net loss of $47,771 and $64,571, respectively, which consisted of general and administrative costs.

Liquidity and Capital Resources

Until the consummation of the IPO, Dynamix I’s only source of liquidity was an initial purchase of Class B ordinary shares by the Sponsor and loans from the Sponsor, which were repaid at the closing of the IPO. As of September 30, 2025, the company had no cash and a working capital deficit of $466,236.

Subsequent to the period covered by this report, on October 31, 2025, Dynamix I consummated its IPO of 20,125,000 Units at $10.00 per Unit, generating gross proceeds of $201,250,000. Simultaneously, the company consummated the sale of 6,275,000 Private Placement Warrants at $1.00 per warrant, generating gross proceeds of $6,275,000.

Following the closing of the IPO and private placement, a total of $201,250,000 was placed in the trust account. The proceeds held in the trust account will be invested or held only in U.S. government treasury obligations or money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act. Dynamix I incurred $12,690,485 in offering costs, consisting of $4,025,000 in cash underwriting fees, $8,050,000 in deferred underwriting fees, and $615,485 in other offering costs.

The remaining proceeds from the IPO and private placement, amounting to $1,548,744 as of October 31, 2025, are being used primarily to enable Dynamix I to identify a target and negotiate and consummate its initial business combination.

Contractual Obligations

Dynamix I has entered into the following contractual agreements:

1. Administrative Services Agreement: The company entered into an agreement with Volta Tread LLC, an affiliate of the Sponsor, to pay $40,000 per month for utilities and secretarial and administrative support services.

2. Advisory Services Agreement: Dynamix I entered into an agreement with Volta Tread LLC to provide management, consulting, and other advisory services in connection with a business combination. The company agreed to pay an annual fee, payable monthly, until the consummation of a business combination.

3. Underwriting Agreement: The underwriters of the IPO are entitled to a deferred underwriting commission of $8,050,000, payable from the amounts held in the trust account following shareholder redemptions in connection with the initial business combination.

Critical Accounting Estimates

As of September 30, 2025, Dynamix I did not have any critical accounting estimates to be disclosed.