Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,289,803, primarily from interest earned on marketable securities held in the Trust Account amounting to $2,470,419, offset by general and administrative costs of $180,616[111]. - For the six months ended June 30, 2025, the company achieved a net income of $4,553,206, with interest income from marketable securities totaling $4,926,021 and general and administrative costs of $372,815[111]. - As of June 30, 2025, the company held marketable securities in the Trust Account valued at $239,426,072, which includes $8,276,072 of interest income[118]. Initial Public Offering - The company completed its Initial Public Offering on September 9, 2024, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit[116]. - The company incurred $15,014,904 in costs related to the Initial Public Offering, which included $4,600,000 in cash underwriting fees and $9,775,000 in deferred underwriting fees[117]. - The underwriters of the Initial Public Offering received a cash underwriting discount of $4,600,000, which is 2.00% of the gross proceeds[127]. Liquidity and Going Concern - The company has a liquidity condition that raises substantial doubt about its ability to continue as a going concern for a period within one year after the issuance of its financial statements[122]. - The company may need to raise additional capital through loans or investments to meet its working capital needs, as there is no assurance that new financing will be available on commercially acceptable terms[121]. Operational Status - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational tasks and preparing for the Initial Public Offering[110]. - The company has incurred and paid $90,000 in fees for the Chief Executive Officer's services for the six months ended June 30, 2025[125]. - The company is classified as a smaller reporting company under Rule 12b-2 of the Exchange Act and is not required to provide the information typically mandated under this item[133].
Andretti Acquisition Corp. II(POLEU) - 2025 Q2 - Quarterly Report