Black Spade Acquisition II Co(BSII) - 2024 Q3 - Quarterly Report

Financial Performance - The company reported a net income of $711,859 for the three months ended September 30, 2024, primarily from interest earned on cash held in the Trust Account[103]. - For the period from May 9, 2024, through September 30, 2024, the company had a net income of $658,680, which was affected by interest earned and changes in over-allotment liability[104]. - Cash used in operating activities for the same period was $259,843, with changes in operating assets and liabilities using $80,073 of cash[109]. Initial Public Offering - Total gross proceeds from the Initial Public Offering amounted to $150,000,000, with an additional $3,000,000 generated from the partial exercise of the over-allotment option[106][107]. - The company incurred transaction costs of $7,395,804 related to the Initial Public Offering, which included $2,660,000 in cash underwriting fees[108]. - The company granted underwriters a 45-day option to purchase up to 2,250,000 additional Units, of which 300,000 Units were purchased[117]. Trust Account and Use of Funds - As of September 30, 2024, the company had cash held in the Trust Account totaling $153,675,282, including $675,282 of interest income[110]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital purposes[110]. Administrative and Operational Matters - The company has incurred $26,000 in administrative support services fees for the three months ended September 30, 2024[116]. - The company evaluated the effectiveness of its disclosure controls and procedures, concluding they were effective as of September 30, 2024[124]. - There were no changes in internal control over financial reporting during the fiscal quarter of 2024 that materially affected the reporting[125]. - No legal proceedings were reported during the quarter[125]. Risk Factors - The company noted that there have been no material changes to the risk factors since its Initial Public Offering[126]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2024[114][115].