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 income from investments 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 a Business Combination[133]. - As of June 30, 2025, the company had cash of $1,753,240 available for working capital purposes[134]. Initial Public Offering - The company generated gross proceeds of $250,000,000 from its 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 Operations - The company has not engaged in any operations or generated revenues to date, focusing on organizational activities and identifying prospective acquisition candidates[123]. - The company intends to use substantially all funds in the Trust Account for the Business Combination and any remaining proceeds for working capital to finance operations of the target business[133]. - The company may need to obtain additional financing to complete its Business Combination or if a significant number of Public Shares are redeemed[136]. Consulting Agreement - 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(BACQ) - 2025 Q2 - Quarterly Report