Financial Performance - The company had a net loss of $0 for the three months ended March 31, 2022[92]. - As of March 31, 2022, the company had no cash used in operating activities and no net loss reported[95]. - The company does not expect to generate operating revenues until after the completion of its initial Business Combination[91]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on May 10, 2022, raising total gross proceeds of $230,000,000 from the sale of 23,000,000 Units[98]. - A total of $236,900,000 ($10.30 per Unit) of the net proceeds from the Initial Public Offering was placed in the Trust Account[100]. - The underwriters of the Initial Public Offering are entitled to a deferred underwriting commission of $11,500,000, contingent upon the consummation of the initial Business Combination[108]. - Deferred offering costs recorded as of March 31, 2022, amounted to $567,608[111]. Business Strategy - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[101]. - The Sponsor provided a loan of $4,600,000 at no interest, which may be converted into warrants at the Sponsor's discretion[99]. - The company has no long-term debt obligations or off-balance sheet arrangements as of March 31, 2022[106].
Cartesian Growth Corporation II(RENEU) - 2022 Q1 - Quarterly Report