Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,308,843, primarily from interest earned on investments held in the Trust Account of $2,652,210[126]. - For the six months ended June 30, 2025, the company achieved a net income of $4,725,562, with interest earned on investments held in the Trust Account totaling $5,288,512[127]. Investments and Assets - As of June 30, 2025, the company had investments held in the Trust Account amounting to $257,044,710, which will be used to complete the Business Combination[133]. - As of June 30, 2025, the company had cash of $1,753,240 available for working capital purposes[134]. Fundraising and Costs - The company raised gross proceeds of $250,000,000 from the Initial Public Offering of 25,000,000 Units at $10.00 per Unit[130]. - The company incurred total offering costs of $11,403,592, including a cash underwriting fee of $2,000,000 and a deferred underwriting fee of $8,750,000[131]. Business Strategy and Risks - The company plans to use funds held outside the Trust Account primarily for identifying and evaluating target businesses and conducting due diligence[134]. - The company may incur additional financing needs if a significant number of Public Shares are redeemed upon consummation of the Business Combination[136]. Debt and Agreements - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025[138]. - The company has entered into a consulting agreement with MJP Advisory Group LLC, agreeing to pay a one-time retainer fee of $60,000 and a monthly services fee of $16,000[121].
Bleichroeder Acquisition Corp. I(BACQU) - 2025 Q2 - Quarterly Report