Financial Performance - For the three months ended March 31, 2024, the company reported a net income of $1,100,442, primarily from interest earned on marketable securities held in the Trust Account of $1,206,515[89]. - Cash used in operating activities for the three months ended March 31, 2024, was $617,999, compared to $0 for the same period in 2023[95][96]. Initial Public Offering - The company completed its Initial Public Offering on February 13, 2024, raising gross proceeds of $184,000,000 from the sale of 18,400,000 Class A ordinary shares[92]. - The company incurred $8,180,834 in Initial Public Offering related costs, including $1,840,000 in upfront cash underwriting fees[94]. Marketable Securities - As of March 31, 2024, the company held marketable securities in the Trust Account valued at $185,206,515, which includes approximately $1,206,515 of interest income[97]. - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination and for working capital of the target business[97]. Debt and Obligations - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2024[101][102]. - The company has a contractual obligation to pay $6,458 per month to its Sponsor for office space and administrative services[102]. Business Combination - The company may need to obtain additional financing to complete its Business Combination or to cover redemptions of Public Shares[100]. - The company has 24 months from the consummation of the Initial Public Offering to complete its initial Business Combination[100].
Helix Acquisition(HLXB) - 2024 Q1 - Quarterly Report