Tearsheet

Origin Investment I (ORIQ)


Market Price (2/2/2026): $10.16 | Market Cap: $88.2 Mil
Sector: Financials | Industry: Multi-Sector Holdings

Origin Investment I (ORIQ)


Market Price (2/2/2026): $10.16
Market Cap: $88.2 Mil
Sector: Financials
Industry: Multi-Sector Holdings

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Low stock price volatility
Vol 12M is 2.0%
Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and E-commerce Logistics & Data Centers. Themes include Real Estate Data Analytics, Show more.
Weak multi-year price returns
2Y Excs Rtn is -40%, 3Y Excs Rtn is -71%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.4 Mil
2   Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 342x
3   Key risks
ORIQ key risks include [1] the failure to complete a business combination within its allotted timeframe, Show more.
0 Low stock price volatility
Vol 12M is 2.0%
1 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, Sustainable & Green Buildings, and E-commerce Logistics & Data Centers. Themes include Real Estate Data Analytics, Show more.
2 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
3 Weak multi-year price returns
2Y Excs Rtn is -40%, 3Y Excs Rtn is -71%
4 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.4 Mil
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 342x
7 Key risks
ORIQ key risks include [1] the failure to complete a business combination within its allotted timeframe, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Stock Movement Drivers

Fundamental Drivers

The 0.7% change in ORIQ stock from 10/31/2025 to 2/1/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)103120252012026Change
Stock Price ($)10.1310.200.7%
Change Contribution By: 
Total Revenues ($ Mil)00.0%
Net Income Margin (%)∞%0.0%
P/E Multiple346.70.0%
Shares Outstanding (Mil)89-6.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/1/2026
ReturnCorrelation
ORIQ0.7% 
Market (SPY)1.5%-3.9%
Sector (XLF)2.0%-7.0%

Fundamental Drivers

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Market Drivers

7/31/2025 to 2/1/2026
ReturnCorrelation
ORIQ  
Market (SPY)9.8%-4.8%
Sector (XLF)2.4%-5.9%

Fundamental Drivers

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Market Drivers

1/31/2025 to 2/1/2026
ReturnCorrelation
ORIQ  
Market (SPY)16.0%-4.8%
Sector (XLF)4.9%-5.9%

Fundamental Drivers

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Market Drivers

1/31/2023 to 2/1/2026
ReturnCorrelation
ORIQ  
Market (SPY)76.6%-4.8%
Sector (XLF)52.9%-5.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ORIQ Return----1%1%2%
Peers Return0%0%0%0%3%1%4%
S&P 500 Return27%-19%24%23%16%2%86%

Monthly Win Rates [3]
ORIQ Win Rate----75%100% 
Peers Win Rate0%0%0%0%43%100% 
S&P 500 Win Rate75%42%67%75%67%100% 

Max Drawdowns [4]
ORIQ Max Drawdown----0%-0% 
Peers Max Drawdown0%0%0%0%-0%-0% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AIIA, ALIS, APAC, APXT, BCSS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/30/2026 (YTD)

How Low Can It Go

ORIQ has limited trading history. Below is the Financials sector ETF (XLF) in its place.

Unique KeyEventXLFS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-26.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven36.7%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven525 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-43.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven76.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven295 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-26.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven35.2%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven338 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-83.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven515.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven4,470 days1,480 days

Compare to AIIA, ALIS, APAC, APXT, BCSS

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Origin Investment I (ORIQ)

We are a blank check company incorporated on September 25, 2024, as a Cayman Islands exempted company for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, which we refer to throughout this prospectus as our “business combination” or “initial business combination,” with one or more businesses or entities, which we refer to throughout this prospectus as a “target business” or “target businesses”. Although we are not limited to target businesses in any specific industry or geographic location, we intend to initially focus our search on target businesses in Asia. However, we will not consummate our initial business combination with an entity or business in China or with China operations consolidated through a variable interest entity (“VIE”) structure. We have generated no revenues to date and we do not expect that we will generate operating revenues until, at the earliest, we consummate our initial business combination. Our management team is continuously made aware of potential business opportunities, one or more of which we may desire to pursue for an initial business combination. However, we have not selected any specific target business and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any target business with respect to an initial business combination with us. We believe our management team is well positioned to identify opportunities offering attractive risk-adjusted returns and that our professional contacts and transaction sources, ranging from industry executives, private owners, private equity funds, family offices, commercial and investment bankers, lawyers and other financial sector service providers and participants, in addition to the geographical reach of our management team and their affiliates, will enable us to pursue a broad range of opportunities. --- While there is no restriction on the geographic location of the targets that we can pursue, we intend to initially focus on target businesses in Asia. In particular, we intend to focus our search for a target business on private companies in Asia that have compelling economics, clear paths to positive operating cash flow, and successful management teams that are seeking access to the U.S. public capital markets. --- While we may acquire a business in any industry, our focus will be middle market and emerging growth companies in the Financial Services, Technology, Biotechnology & Pharmaceutical, Advanced Materials, and Clean Energy. We believe that our target industries are attractive for a number of reasons: Financial Services: The financial service industry is experiencing transformative growth, characterized by rapid technological advancements, regulatory changes, and evolving consumer expectations. We believe that the technological breakthroughs-including generative AI, blockchain, cloud migration, and cybersecurity enhancement-will open up new strategic opportunities. Technology: The technology sector outperformed the S&P 500® in 2023 and continued its strong performance into the first half of 2024. Pivotal and continuous advancements in AI have created compelling investment opportunities and are expected to fuel long-term sector growth. Agile private technology companies that have capitalized these advancements are well-positioned to scale financially and generate shareholder value. Biotechnology & Pharmaceutical: These industries represent a large target market with constant innovation and substantial investment in innovative technologies. In 2023, there are 1256 total transactions across venture rounds, IPOs, licensing deals, and M&A in the biopharma industry according to JP Morgan. We believe that the dynamics suggest extensive business combination opportunities. Advanced Materials: The global advanced materials market is projected to reach $582.3 billion revenue by 2030, growing at a CARG of 8.2%, according to P&S Intelligence. The Asia-Pacific region is anticipated to lead the growth, attributed to the high concentration of manufacturers and robust industrial activities within the area. Clean Energy: The shift towards sustainable energy sources is accelerating the growth of the clean energy sector. According to the International Energy Agency (IEA), clean energy investment increased nearly 50% from 2019 to 2023, reaching $1.8 trillion in 2023. Global clean energy deployment scaled new heights in 2023, with annual additions of solar PV and wind growing 85% and 60% respectively. This growth is supported by worldwide initiatives to reduce reliance on fossil fuels and mitigate environmental impacts. Our executive office is located in Singapore.

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  • Public Listing Platform: Serves as a blank check company designed to raise capital through an IPO and facilitate the public listing of a private operating company via a business combination.
  • Mergers & Acquisitions (M&A) Execution: Focuses on identifying, evaluating, and executing a merger or acquisition with one or more suitable target businesses to create shareholder value.

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Origin Investment I (symbol: ORIQ) is a Special Purpose Acquisition Company (SPAC). A SPAC is formed for the sole purpose of raising capital through an initial public offering (IPO) to acquire or merge with an existing private company. As such, SPACs do not have commercial operations and do not generate revenue from the sale of goods or services to customers.

Therefore, Origin Investment I (ORIQ) does not have major customers in the traditional sense, as it does not sell products or services to other companies or individuals.

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Yung-Hsi ("Edward") Chang, Chief Executive Officer and Interim Chief Financial Officer

Mr. Yung-Hsi ("Edward") Chang serves as the Chief Executive Officer and Interim Chief Financial Officer of Origin Investment I. He assumed the role of Chief Executive Officer on January 7, 2025, and has been a Director since September 25, 2024. Mr. Chang also took on the responsibilities of Interim Chief Financial Officer following the resignation of Nicolas Kuan Liang Lin on September 29, 2025. Prior to his leadership at Origin Investment I, Mr. Chang has been the Portfolio Manager of Origin Equity Partners, a sub-fund of Singapore-based Carrington RHT Investments, since September 2022.

AI Analysis | Feedback

The primary risks for Origin Investment I (ORIQ), a Special Purpose Acquisition Company (SPAC), stem from its fundamental business model as a "blank check company" aiming to acquire or merge with an unspecified private entity.

  1. Failure to complete a business combination within the allotted timeframe: As a SPAC, Origin Investment I has a limited period to identify and finalize a merger or acquisition. Should it fail to consummate a business combination within this specified timeframe, the company would be forced to liquidate, potentially leading to losses for investors who would receive their funds back, typically without the value of their warrants and after certain fees. The company's future performance is subject to uncertainty and dependency on external conditions.
  2. Challenges in identifying and successfully acquiring a suitable target business: Origin Investment I was formed without a specific acquisition target identified at the time of its initial public offering. While it intends to focus on businesses primarily in Asia (excluding China) across sectors such as financial services, technology, biotech & pharmaceutical, advanced materials, and clean energy, the absence of a defined target introduces considerable uncertainty about the nature and viability of its future operations. This challenge is compounded by potential competition for attractive targets and the self-imposed restriction against engaging with businesses in China, which could limit growth opportunities in a significant market.

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Increased competition among numerous Special Purpose Acquisition Companies (SPACs) for a shrinking pool of suitable private targets, coupled with a broader decline in investor appetite for new SPAC deals and de-SPAC transactions. This environment makes it increasingly challenging for ORIQ to identify and successfully complete a business combination before its liquidation deadline, thereby threatening its core purpose and viability.

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The future revenue growth of Origin Investment I (ORIQ) is entirely contingent upon its success as a Special Purpose Acquisition Company (SPAC). Having completed its initial public offering in July 2025, ORIQ currently lacks significant operations or traditional revenue streams. Its anticipated drivers of future revenue growth over the next 2-3 years are therefore tied to the successful execution of its acquisition strategy:

  1. Successful Business Combination: The primary driver of future revenue growth will be the successful identification and completion of a merger, acquisition, or similar business combination with an operating company. As a SPAC, ORIQ's sole purpose is to acquire an existing business, which would then become the source of its future revenue.
  2. Target Company's Inherent Growth Potential: ORIQ intends to seek a target company that demonstrates "strong management and both revenue and earnings growth potential." Therefore, the intrinsic growth trajectory of the acquired business, whether through its existing product/service offerings, market position, or operational efficiencies, will directly drive ORIQ's post-acquisition revenue.
  3. Strategic Focus on High-Growth Sectors in Asia (excluding China): ORIQ has articulated a strategic focus on acquiring businesses within high-growth sectors such as financial services, technology, biotechnology and pharmaceutical, advanced materials, and clean energy. Furthermore, its geographical preference is for middle-market and emerging growth companies in Asia, specifically excluding China. Revenue growth will be driven by the inherent expansion and innovation within these chosen sectors and regions by the acquired entity.
  4. Synergies and Expansion Post-Acquisition: Once a business combination is complete, future revenue growth could also be driven by any synergies realized between ORIQ's resources (capital, management expertise) and the acquired company's operations, leading to expanded market reach, new product development, or increased operational scale.

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Share Issuance

  • Origin Investment I completed its Initial Public Offering (IPO) on July 3, 2025, offering 6,000,000 units at $10.00 per unit, which raised gross proceeds of $60,000,000.
  • The underwriters fully exercised an over-allotment option on July 18, 2025, purchasing an additional 900,000 units at $10.00 per unit, generating gross proceeds of $9,000,000.
  • The company's ordinary shares and warrants began trading separately on The Nasdaq Global Market under the symbols "ORIQ" and "ORIQW" respectively, commencing September 9, 2025.

Inbound Investments

  • Simultaneously with the IPO closing, Origin Investment I conducted a private placement of 355,000 units to its sponsor, Origin Equity LLC, raising an additional $3,550,000.
  • An additional private placement of 18,000 private units was made to Origin Equity LLC at $10.00 per unit during the closing of the over-allotment option, generating $180,000 in gross proceeds.
  • A total of $60,600,000 in net proceeds from the IPO and the initial private placement was placed into a U.S.-based trust account.

Outbound Investments

  • Origin Investment I, a Special Purpose Acquisition Company (SPAC), was formed with the purpose of effecting a merger, amalgamation, share exchange, or similar business combination with one or more businesses.
  • The company intends to focus its search for a target business primarily in Asia, specifically excluding entities with operations in China.
  • The target sectors for potential acquisitions include financial services, technology, biotechnology and pharmaceutical, advanced materials, and clean energy.

Trade Ideas

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Unique Key

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Peer Comparisons

Peers to compare with:

Financials

ORIQAIIAALISAPACAPXTBCSSMedian
NameOrigin I.AI Infra.Calisa A.StoneBri.Apex Tre.Bain Cap. 
Mkt Price10.2010.0010.00-9.9810.1610.00
Mkt Cap0.10.20.1-0.40.10.1
Rev LTM0-0---0
Op Inc LTM-0--0----0
FCF LTM-0--0----0
FCF 3Y Avg-------
CFO LTM-0--0----0
CFO 3Y Avg-------

Growth & Margins

ORIQAIIAALISAPACAPXTBCSSMedian
NameOrigin I.AI Infra.Calisa A.StoneBri.Apex Tre.Bain Cap. 
Rev Chg LTM-------
Rev Chg 3Y Avg-------
Rev Chg Q-------
QoQ Delta Rev Chg LTM-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM-------
CFO/Rev 3Y Avg-------
FCF/Rev LTM-------
FCF/Rev 3Y Avg-------

Valuation

ORIQAIIAALISAPACAPXTBCSSMedian
NameOrigin I.AI Infra.Calisa A.StoneBri.Apex Tre.Bain Cap. 
Mkt Cap0.10.20.1-0.40.10.1
P/S-------
P/EBIT---596.6----596.6
P/E341.6--596.8----127.6
P/CFO-209.0--682.7----445.8
Total Yield0.3%--0.2%---0.1%
Dividend Yield0.0%0.0%0.0%-0.0%0.0%0.0%
FCF Yield 3Y Avg-------
D/E-0.00.0-0.00.00.0
Net D/E--0.0-0.0-0.0-0.0-0.0

Returns

ORIQAIIAALISAPACAPXTBCSSMedian
NameOrigin I.AI Infra.Calisa A.StoneBri.Apex Tre.Bain Cap. 
1M Rtn0.8%0.7%0.5%-0.9%0.6%0.7%
3M Rtn0.7%0.7%0.8%-0.6%0.8%0.7%
6M Rtn2.0%0.7%0.8%-0.6%0.8%0.8%
12M Rtn2.0%0.7%0.8%-0.6%0.8%0.8%
3Y Rtn2.0%0.7%0.8%-0.6%0.8%0.8%
1M Excs Rtn0.2%-0.0%0.1%-0.3%0.2%0.2%
3M Excs Rtn0.2%0.0%0.1%--0.1%0.1%0.1%
6M Excs Rtn-7.5%-8.8%-8.6%--8.9%-8.7%-8.7%
12M Excs Rtn-12.9%-14.2%-14.1%--14.3%-14.1%-14.1%
3Y Excs Rtn-70.8%-72.1%-72.0%--72.2%-72.0%-72.0%

Comparison Analyses

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Financials

Short Interest

Short Interest: As Of Date1152026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 12312025-3.4%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest2.3 days
Basic Shares Quantity8.7 Mil
Short % of Basic Shares0.2%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

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Report DateFiling DateFiling
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202507/03/2025424B4