Financial Position - As of March 31, 2025, the company had an unrestricted cash balance of $15,354 and investments held in the Trust Account amounting to $262,756,845[101]. - The company has no long-term debt or capital lease obligations as of the reporting date[115]. - The company generated non-operating income from interest on investments held in the Trust Account, with no significant changes in financial position since the last audited financial statements[102]. Initial Public Offering - The company completed its Initial Public Offering on October 25, 2024, raising gross proceeds of $250,000,000 from the sale of 25,000,000 Units at $10.00 per Unit[107]. - A total of $258,000,000 from the net proceeds of the Initial Public Offering was placed in the Trust Account, which is intended for the Business Combination[108]. - The Underwriting Agreement granted underwriters a 45-day option to purchase up to 3,750,000 Over-Allotment Option Units, with 800,000 units sold as of December 9, 2024[117]. - The Company received an underwriting discount of $0.15 per Unit, totaling $3,870,000, at the closing of the Initial Public Offering and Over-Allotment Option[119]. - The Company received reimbursements of $1,290,000 and $40,000 from underwriters for expenses related to the Initial Public Offering and Over-Allotment Option, respectively[119]. Business Combination - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[109]. - The company expects to incur approximately $1,509,000 for legal, accounting, due diligence, and other expenses related to structuring and negotiating Business Combinations[112]. - The company may need to seek additional financing to complete its initial Business Combination if cash requirements exceed available funds[114]. Operational Status - For the three months ended March 31, 2025, the company reported a net income of $2,454,858, with a loss from operations of $268,126[103]. - The company has not engaged in any operations or generated revenues to date, focusing solely on organizational activities and preparing for the Initial Public Offering[102]. Accounting and Reporting - The Company accounts for Class A ordinary shares subject to possible redemption as temporary equity, adjusting their carrying value to redemption value at each reporting period[122]. - The FASB issued Accounting Standards Update 2023-07, improving reportable segment disclosure requirements, which the Company will adopt for the annual period ending December 31, 2024[124]. - Management does not anticipate that recently issued accounting standards will materially affect the financial statements[125]. Administrative Expenses - The Company entered into an Administrative Services and Indemnification Agreement, agreeing to pay $15,000 per month for office space and services, totaling $45,000 for the three months ended March 31, 2025[116].
Bold Eagle Acquisition Corp.(BEAGU) - 2025 Q1 - Quarterly Report