Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $581,366, primarily from interest earned on marketable securities held in the Trust Account[92]. - The company generated gross proceeds of $230,000,000 from the Initial Public Offering of 23,000,000 Units at $10.00 per Unit[94]. - As of September 30, 2024, the company had marketable securities held in the Trust Account totaling $231,814,125, including approximately $664,125 of interest income[95]. - The company incurred $15,014,904 in Initial Public Offering related costs, which included $4,600,000 in cash underwriting fees and $9,775,000 in deferred underwriting fees[94]. - The company has incurred general and administrative costs of $82,759 for the three months ended September 30, 2024[92]. Cash and Securities - The company had cash of $876,169 as of September 30, 2024, intended for identifying and evaluating target businesses[96]. - The company has no long-term debt or significant off-balance sheet arrangements as of September 30, 2024[99]. - The company plans to use substantially all funds in the Trust Account to complete its Business Combination[95]. Future Expectations - The company does not expect to generate operating revenues until after the completion of its Business Combination[91]. - The company has a contractual obligation to pay the Chief Executive Officer $12,500 per month for services[101].
Andretti Acquisition Corp. II(POLEU) - 2024 Q3 - Quarterly Report