IPO and Proceeds - The company completed its IPO on August 2, 2024, generating gross proceeds of $300,000,000 from the sale of Units at $10.00 per Unit[89]. - The underwriters exercised the over-allotment option on September 4, 2024, resulting in additional gross proceeds of $45,000,000[90]. - An amount of $346,725,000 from the IPO proceeds was placed in a trust account, intended for the initial business combination[92]. - The company incurred transaction costs of $14,634,758 related to the IPO, including $5,175,000 in cash underwriting fees[91]. - The Sponsors received 8,625,000 founder shares for $25,000, with the potential for forfeiture based on the underwriters' over-allotment[95]. Financial Performance - Following the IPO, the company generated a net income of $3,386,331 for the three months ended March 31, 2025, primarily from interest income[88]. - The company incurred administrative fees of $30,000 during the three months ended March 31, 2025, with $10,000 recorded as unpaid[100]. Cash and Funding Needs - As of March 31, 2025, the company had cash of $57,904, which will be used for identifying and evaluating target businesses[93]. - The company may require additional funding to support operations prior to the initial business combination due to existing working capital deficits[94]. Business Operations - The company has not engaged in any operations or generated revenues to date, focusing instead on completing its initial business combination[87].
AA Mission Acquisition Corp.(AAM) - 2025 Q1 - Quarterly Report