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MMTX

Deal announcedStalling

Miluna Acquisition Corp

Merging with CADV Ventures S.A.

Deal announced 2026-04-27

Pulse

↑Medium-strong

0–100 vitality — and a read on how the book feels about this shell.

Stalling

% done

36%

Path to close

Price

$10.16

Mkt 89.69M

What is Pulse?

SPAC Pulse measures the current vitality of a deal on a 0–100 scale. A new IPO starts near 50 — a healthy heart with room both ways. It is not weakening just because nothing has printed yet. Weakening is a tag for a slowing beat (stalling cadence), not a quiet shell. 10-Q / 10-K on time is a good beat; an NT is a deficiency. File the report late, then file the NT late, and Pulse falls — that is how public investors read whether management is on top of the shell. Filing recovers some of it. It never pretends the miss did not happen. When other new IPOs file that window on time, they are no longer equal — those shells are healthier. High readings mean the deal book is accelerating; low readings flag life-support risk. Full methodology lives on the desk.

Rate + Lead II · 25 mm/s

Pulse Timeline

Top trace is the Pulse rate. Bottom is the filing lead — R-wave when the rate lifts, QS when it slows. Height is the change.

02-12 10-K
04-27 Deal announced
05-15 10-Q
08-13 10-Q
08-27 S-4
10-07 Now

Auto interpretation · Lead II printoutSinus tachycardiaPulse 67

Beats are packing together — amendments tightening, or a real DA just hit.

Silent 41dBeats/90d 1Recent gap —

Marks on this strip

11-1441 ↓11NT (late notice). Late-notice. Housekeeping, scored as a miss until the 10-Q/10-K lands. -11
11-1746 ↑510-Q. Periodic report on time. +5
02-1244 ↓210-K. Periodic report. Pulse -2 — calendar, not the S-4.
04-2758 ↑14Deal announced. Contract signed. Close-path clock starts. +14
05-1560 ↑210-Q. Periodic report on time. +2
08-1360 →010-Q. Periodic report on time. unchanged
08-2773 ↑13S-4. Book opened. Amendment velocity starts here. +13
10-0767 ↓6Now. No S-4/F-4 beat in 41 days. 41d since the last beat. -6

Impression: last filing printed 73. Live Pulse is 67. No S-4/F-4 beat in 41 days. 41d since the last beat. -6

· No S-4/F-4 beat in 41 days.

Unconfirmed machine read · not medical advice · not financial advice

Historical context

S-4 on file in the archive

Precedent from 27 names in the Pulse archive (closed, liquidated, and broken deals). Archive base rate is one input; live beat speed then moves Pulse. Not a forecast.

Close rate: 100%
Median days left: 105
Archive n: 27

Status

S-4 Filed

Exchange

Nasdaq

Rights

Warrants

Listed

CIK

0002077033

IPO date

2025-10-23

Market cap

89.69M

Days to deadline

—

SEC tickers

MMTX, MMTXU, MMTXW

Sponsor

—

S-4 / F-4 filer

Holdco · CADV Ventures S.A.

Fiscal year

December 31

Next filing

10-Q 2026-11-14

Vote

—

Schedule

What is due next

Fiscal year: Ends December 31 · 10-K cover
This window: 10-Q due 2026-08-14 · filed
Next due: 10-Q 2026-11-14Period 2026-09-30
Pulse: +6

10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-13 on time (+6).

On time with this window. Pulse stays even with the other new listings that filed.

Meetings

No shareholder meeting dated in the Q&A or calendar.

Price history

Delayed exchange prints — common, rights, units, warrants when listed. Last price is in the header. This tape does not move Pulse.

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S-4 amendment timeline

Shrinking gaps mean the deal is progressing. The tag says whether that filing cleared a checklist, dropped a hurdle, or repriced the deal.

Merging company
On file
CADV Ventures S.A.
Close timing Q&A
On file
second half of 2026
Meeting Q&A
Gap
No meeting Q captured.
Proxy card
Gap
No form of proxy in the exhibits yet.
10-Q / 10-K
On file
10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-13 on time (+6).

Q&A · close

When do you expect the Business Combination to be completed? A. It is currently expected that the Business Combination will be consummated by the second half of 2026. This date depends, among other things, on the approval of the proposals to be put to SPAC Shareholders at the EGM. However, such meeting could be adjourned if the Adjournment Proposal is adopted by SPAC s shar