Financial Performance - As of June 30, 2022, the company reported a net loss of $385,392, primarily due to a change in the fair value of a convertible promissory note of $434,451 and operating costs of $225,391[111][112]. - The company has raised $4,600,000 from the Sponsor Loan, which will be repaid or converted into warrants at the Sponsor's discretion[115]. - Management has raised substantial doubt about the company's ability to continue as a going concern beyond November 10, 2023, without completing a Business Combination[121][122]. Initial Public Offering - 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 at $10.00 per Unit[114]. - A total of $236,900,000 was placed in the Trust Account, with transaction costs of the Initial Public Offering amounting to $16,804,728[116]. Cash and Securities - As of June 30, 2022, the company held $236,914,324 in cash and marketable securities in the Trust Account, including approximately $14,324 of interest income[118]. - The company had cash held outside the Trust Account of $814,170 available for working capital needs as of June 30, 2022[119]. Debt and Obligations - The company has no long-term debt obligations or off-balance sheet arrangements as of June 30, 2022[125][126]. - The company has incurred fees of $10,000 per month to the Sponsor for office space and administrative services since May 5, 2022[126]. Future Plans - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination and may use remaining proceeds for working capital[118]. - The company is classified as a smaller reporting company under Rule 12b-2 of the Exchange Act and is not required to provide the information typically mandated under this item[135].
Cartesian Growth Corporation II(RENEU) - 2022 Q2 - Quarterly Report