Financial Performance - The company had a net loss of $53,179 for the period from May 9, 2024, through June 30, 2024, primarily due to general and administrative expenses[90]. - The company does not expect to generate operating revenues until after the completion of its Business Combination[89]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on August 29, 2024, raising gross proceeds of $150,000,000 from the sale of 15,000,000 Units at $10.00 per Unit[92]. - An additional 300,000 Units were sold on September 26, 2024, generating an extra $3,000,000 in gross proceeds[93]. - A total of $153,000,000 was placed in the Trust Account following the Initial Public Offering and the partial exercise of the over-allotment option[110]. - The company incurred $7,395,804 in costs related to the Initial Public Offering, including underwriting fees and other offering costs[94]. Trust Account and Fund Utilization - The company intends to use substantially all funds in the Trust Account to complete its Business Combination[95]. - The company generated non-operating income in the form of interest income on marketable securities held in the Trust Account[89]. - The company plans to use funds held outside the Trust Account primarily for identifying and evaluating target businesses[96]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2024[99][100].
Black Spade Acquisition II Co(BSIIU) - 2024 Q2 - Quarterly Report