Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $2,605,302, consisting of interest earned on marketable securities of $2,406,913 and an unrealized gain of $388,318, offset by general and administrative costs of $189,929[96]. - For the period from February 21, 2024 (inception) through September 30, 2024, the company reported a net income of $2,564,914, with similar components as the quarterly results[97]. Marketable Securities - As of September 30, 2024, the company had marketable securities held in the Trust Account amounting to $232,795,232, consisting of U.S. Treasury Bills with a maturity of 185 days or less[102]. Initial Public Offering - The company completed its Initial Public Offering on July 15, 2024, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit, including the full exercise of the over-allotment option[99]. - The company incurred total offering costs of $15,574,281, which included a cash underwriting fee of $4,000,000 and a deferred underwriting fee of $10,950,000[100]. Cash and Financing - As of September 30, 2024, the company had cash of $953,928 available for operational activities and evaluating target businesses[103]. - The company does not have any long-term debt or significant off-balance sheet arrangements as of September 30, 2024[106]. - The company may need to obtain additional financing to complete its Business Combination or due to potential redemptions of Public Shares[105]. Business Combination Plans - The company expects to incur significant costs in pursuing its acquisition plans and cannot assure the success of completing a Business Combination[92]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and may use remaining proceeds for working capital[102].
Launch One Acquisition Corp.(LPAAU) - 2024 Q3 - Quarterly Report