Financial Performance - The company had a net income of $2,287,413 for the three months ended March 31, 2025, primarily from interest earned on marketable securities held in the Trust Account[114]. - The company generated non-operating income from interest on cash and marketable securities held in the Trust Account, with no operating revenues expected until after a Business Combination[113]. Trust Account and Assets - As of March 31, 2025, the Trust Account held cash and marketable securities totaling $237,994,779, consisting of U.S. Treasury Bills with a maturity of 185 days or less[121]. - As of March 31, 2025, the company had a working capital surplus of $795,071, with $668,923 in its operating bank account[122]. - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2025[125]. Initial Public Offering - The Initial Public Offering generated 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[117]. - The company incurred total offering costs of $15,574,281, which included $4,000,000 in cash underwriting fees and $10,950,000 in deferred underwriting fees[118]. Business Combination Plans - The company plans to complete a Business Combination by July 17, 2026, or face mandatory liquidation[124]. - The company expects to incur significant costs in pursuing its acquisition plans, with no assurance of successful completion of a Business Combination[110]. - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial Business Combination[111].
Launch One Acquisition Corp.(LPAA) - 2025 Q1 - Quarterly Report