Centurion Acquisition Corp.(ALFUU) - 2024 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2024, the company reported a net income of $612,185, consisting of interest income of $703,839, offset by formation and operating costs of $80,312 and an unrealized loss of $11,342 on marketable securities [92]. - From January 18, 2024, through June 30, 2024, the company had a net income of $564,698, with total interest income of $703,839 and total formation and operating costs of $127,799 [93]. - Cash used in operating activities from January 18, 2024, through June 30, 2024, was $15,080, with net income affected by various costs and interest earned [98]. Initial Public Offering - The company completed its Initial Public Offering on June 12, 2024, raising gross proceeds of $287,500,000 from the sale of 28,750,000 Units, including the underwriters' over-allotment option [94]. - The company incurred $19,500,452 in costs related to the Initial Public Offering, including $5,000,000 in cash underwriting fees and $13,687,500 in deferred underwriting fees [96]. Marketable Securities - As of June 30, 2024, the company held marketable securities in the Trust Account amounting to $288,192,497, which includes $692,497 of interest income [99]. Business Combination and Financing - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital and growth strategies [99]. - The company may require additional financing to complete its Business Combination or to cover redemptions of Public Shares, which could involve issuing additional securities or incurring debt [102]. Share Structure - The company has two classes of shares, with net income shared pro rata between redeemable and non-redeemable Class A Ordinary Shares and Class B Ordinary Shares [108]. Debt and Expenses - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2024, and incurs a monthly fee of $10,000 for office space and administrative support [103][104].