Bold Eagle Acquisition Corp.(BEAG) - 2024 Q3 - Quarterly Report

Financial Performance - As of September 30, 2024, the company reported a net loss of $49,328 for the three months and a total net loss of $50,825 for the nine months, primarily due to formation and operation costs [86]. - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational and preparatory efforts for the Initial Public Offering [85]. Cash and Capital Structure - The company had an unrestricted cash balance of $0 and a working capital deficiency of $450,279 as of September 30, 2024 [90]. - The company has no long-term debt or capital lease obligations as of the reporting date [101]. - The company anticipates needing additional financing to complete its initial business combination if cash requirements exceed available funds from the Trust Account [99]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on October 25, 2024, raising $250,000,000 from the sale of 25,000,000 units at $10.00 per unit [91]. - A total of $250,000,000 from the Initial Public Offering proceeds was placed in a Trust Account, invested in money market funds or U.S. government treasury obligations [92]. - The Company entered into an Underwriting Agreement on October 23, 2024, granting underwriters a 45-day option to purchase up to 3,750,000 additional Units at the Initial Public Offering price [103]. - A cash underwriting discount of $0.15 per Unit was paid, amounting to $3,750,000, with reimbursement of $1,250,000 received from underwriters at the closing of the Initial Public Offering [105]. Expenses and Agreements - The company expects to incur approximately $1,509,000 for legal, accounting, due diligence, and other expenses related to business combinations [97]. - The company entered into an Administrative Services and Indemnification Agreement, agreeing to pay $15,000 per month for office space and administrative services [102]. Equity and Valuation - Class A ordinary shares subject to possible redemption are classified as temporary equity and measured at fair value, with changes in redemption value recognized immediately [108]. - The Company adjusts the carrying value of Class A ordinary shares to equal the redemption value at the end of each reporting period, affecting additional paid-in capital and accumulated deficit [109]. - Underwriters are entitled to a deferred fee of $0.35 per Unit, totaling $8,750,000, payable only if the Company completes a Business Combination [104]. Regulatory and Accounting Considerations - A registration rights agreement was established, allowing holders of certain shares to demand registration of their securities and the Company will bear the associated filing expenses [106]. - Management does not anticipate that any recently issued accounting standards will materially affect the financial statements [110].