Galata Acquisition(LATAU)
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Galata Acquisition(LATAU) - 2025 Q3 - Quarterly Report
2025-11-13 21:20
IPO Details - The company completed its Initial Public Offering (IPO) on September 22, 2025, raising gross proceeds of $172.5 million from the sale of 17,250,000 Units at $10.00 per Unit[115]. - The company incurred total costs of $10,060,403 related to the IPO, including $3,450,000 in cash underwriting fees and a Deferred Fee of up to $6,037,500[122]. - The company has until September 22, 2027, to complete its Business Combination, or it will cease operations and redeem Public Shares at a cash price equal to the amount in the Trust Account[118]. Financial Performance - The company generated a net income of $43,587 for the three months ended September 30, 2025, primarily from interest income of $151,164 on marketable securities held in the Trust Account[121]. - As of September 30, 2025, the company had approximately $172,651,164 in marketable securities in the Trust Account, including $151,164 of interest income[124]. - The company has not generated any operating revenues to date and will not do so until after the completion of its initial Business Combination[120]. Cash and Funding - The company has cash held outside the Trust Account amounting to $1,098,128, intended for evaluating target businesses and related activities[126]. - The company has not yet borrowed under any Working Capital Loans as of September 30, 2025[129]. - The company has incurred $4,000 in fees for administrative services for the three months ended September 30, 2025[131]. Accounting Policies and Estimates - The company has identified critical accounting policies that may affect reported amounts of assets and liabilities, income and expenses[136]. - As of September 30, 2025, there were no critical accounting estimates disclosed that could materially affect the financial statements[137]. - Class A Ordinary Shares subject to possible redemption are classified as temporary equity and presented at redemption value outside of shareholders' equity[138]. - Net income per Ordinary Share is calculated using the two-class method, allocating net income pro rata to different classes of shares[139]. - Management does not anticipate any recently issued accounting standards to have a material effect on the financial statements[141]. Regulatory and Compliance - The FASB issued ASU 2023-07, effective for fiscal years beginning after December 15, 2023, requiring disclosures of significant segment expenses and performance measures[140]. - The company adopted ASU 2023-07 on September 22, 2025, coinciding with the Initial Public Offering[140]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[142]. Business Combination and Shareholder Approval - The company may seek to extend the Combination Period with shareholder approval, which could affect its ability to maintain its Nasdaq listing[119].
Galata Acquisition Corp. II Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing November 10, 2025
Globenewswire· 2025-11-05 21:05
Core Points - Galata Acquisition Corp. II will allow holders of its initial public offering units to separately trade Class A ordinary shares and warrants starting November 10, 2025 [1] - The separated Class A ordinary shares and warrants will trade on the Nasdaq Global Market under the symbols "LATA" and "LATAW," while units not separated will continue to trade under "LATAU" [1] - The company is a blank check company formed to pursue mergers and acquisitions across various sectors, including energy, fintech, real estate, and technology [2] Company Overview - Galata Acquisition Corp. II is designed to effectuate business combinations through mergers, amalgamations, share exchanges, asset acquisitions, or reorganizations [2] - The company has the flexibility to target acquisition opportunities in any industry sector or geographical location [2]
Galata Acquisition Corp. II Completes $172.5 Million Initial Public Offering
Globenewswire· 2025-09-22 20:05
Core Points - Galata Acquisition Corp. II has successfully closed its initial public offering (IPO) of 17,250,000 units, generating gross proceeds of $172,500,000 at a price of $10.00 per unit [1][3] - The units began trading on September 19, 2025, on Nasdaq under the ticker symbol "LATAU," with each unit comprising one Class A ordinary share and one-third of a redeemable warrant [2] - The company is a blank check entity aimed at pursuing mergers or acquisitions across various sectors, including energy, fintech, real estate, and technology [4] Financial Details - The IPO included an over-allotment option that was fully exercised, resulting in the issuance of an additional 2,250,000 units [1] - A total of $172,500,000 from the IPO proceeds has been placed in trust [3] Management Team - The management team is led by Daniel Freifeld (Chief Investment Officer and Chairman), Craig Perry (Chief Executive Officer), William Weir (President and COO), and Powers Spencer (Chief Financial Officer) [5] - The Board of Directors includes Douglas Lute, Agostina Nieves, and Andy Abell [5] Regulatory Information - The registration statement for the securities was declared effective by the U.S. Securities and Exchange Commission (SEC) on September 18, 2025 [6]
Galata Acquisition Corp. II Announces the Pricing of $150,000,000 Initial Public Offering
Globenewswire· 2025-09-18 21:28
Group 1 - The Company, Galata Acquisition Corp. II, announced the pricing of its initial public offering (IPO) of 15,000,000 units at a price of $10.00 per unit, with trading set to begin on September 19, 2025, under the ticker symbol "LATAU" [1] - Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with the whole warrant allowing the purchase of one Class A ordinary share at a price of $11.50 per share [1] - The offering is expected to close on September 22, 2025, subject to customary closing conditions, and the underwriters have a 45-day option to purchase an additional 2,250,000 units [1] Group 2 - The Company is a blank check company formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, focusing on sectors such as energy, fintech, real estate, and technology [2] - The management team includes Daniel Freifeld (Chief Investment Officer and Chairman), Craig Perry (Chief Executive Officer), William Weir (President and Chief Operating Officer), and Powers Spencer (Chief Financial Officer) [3]