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 the 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 for 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 the private placement, a total of $201,250,000 was placed in the trust account. The remaining proceeds from the IPO and the private placement are held outside the trust account, in the cash operating account amounting to $1,548,744 as of October 31, 2025. These funds are being used primarily to enable Dynamix I to identify a target and to negotiate and consummate its initial business combination.

The company intends to use substantially all of the funds held in the trust account to complete its business combination. To the extent that Dynamix I’s share capital or debt is used, in whole or in part, as consideration to complete the business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue growth strategies.

Off-Balance Sheet Arrangements

Dynamix I has no obligations, assets or liabilities that would be considered off-balance sheet arrangements as of September 30, 2025.

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 advisory services agreement with Volta Tread LLC, pursuant to which the service provider agreed to provide management, consulting and other advisory services to the company in connection with a business combination. The company agreed to pay an annual fee, payable on a monthly basis, 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, which will be payable to the underwriters from the amounts held in the Trust Account solely on amounts remaining in the Trust Account following all properly submitted shareholder redemption in connection with the consummation of the initial business combination.

Critical Accounting Estimates

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