Centurion Acquisition Corp.(ALF) - 2025 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $3,046,155, driven by dividends and interest income of $3,181,701, with operating costs of $135,546[120]. - For the six months ended June 30, 2025, the company achieved a net income of $5,946,448, with total interest income of $6,231,860 and operating costs of $285,412[121]. - Cash used in operating activities for the six months ended June 30, 2025, was $242,262, with net income impacted by interest earned on marketable securities[126]. Marketable Securities - As of June 30, 2025, the company held marketable securities in the Trust Account amounting to $302,037,539, primarily in U.S. government treasury obligations[128]. Initial Public Offering - The company completed its Initial Public Offering on June 12, 2024, raising gross proceeds of $287,500,000 from the sale of 28,750,000 Units[123]. - The company incurred $19,519,154 in costs related to the Initial Public Offering, including $5,000,000 in cash underwriting fees and $13,687,500 in deferred underwriting fees[125]. - The underwriters are entitled to a deferred underwriting discount of 4.50% on gross proceeds held in the Trust Account, totaling $13,687,500 upon completion of the Business Combination[134]. Debt and Financing - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and incurs a monthly fee of $10,000 for office space and administrative support[132][133]. - The company does not anticipate needing to raise additional funds for operating expenditures but may require financing for the Business Combination[131]. Use of Funds - The company intends to use funds in the Trust Account primarily to complete its Business Combination and for working capital to finance operations of the target business[128].