IPO and Fundraising - The Company completed its IPO on October 25, 2024, raising gross proceeds of $75,000,000 from the sale of 7,500,000 units at $10.00 per unit[100]. - A private placement generated an additional $2,400,000 from the sale of 240,000 units at the same price, totaling $77,400,000 in gross proceeds[100]. - The underwriters were granted a 45-day option to purchase up to 1,125,000 additional units, which was partially exercised, generating gross proceeds of $10,000,000[104]. - The total transaction costs incurred in connection with the IPO amounted to $3,060,711, including $1,125,000 in underwriting fees[112]. Financial Performance - As of June 30, 2024, the Company reported a net loss of $15,853, primarily due to formation and operating costs[109]. - The Company had a working capital deficit of $92,408 as of June 30, 2024, with $576,299 in cash held outside the Trust Account available for working capital[114]. - The Company has no revenue and has relied on the sale of securities and loans from the Sponsor to fund operations since inception[103]. Future Financing and Operations - The Company intends to use funds held outside the Trust Account primarily for identifying and evaluating target businesses for a Business Combination[115]. - The Company may need additional financing to complete its Business Combination or to cover redemptions of Public Shares[117]. - The Company has no off-balance sheet financing arrangements as of June 30, 2024[118].
Charlton Aria Acquisition Corporation(CHARU) - 2024 Q2 - Quarterly Report