Financial Performance - For the three months ended June 30, 2025, the company reported a net loss of $248,730, with dividends earned on investments held in the trust account amounting to $1,758,009[139] - For the six months ended June 30, 2025, the company achieved a net income of $783,920, driven by dividends of $3,507,375 and a change in fair value of the over-allotment liability of $64,371[140] Trust Account and Investments - As of June 30, 2025, the company had $170,304,723 in mutual funds primarily invested in money market funds held in the trust account[149] - The company intends to use substantially all funds held in the trust account to complete its initial business combination and may withdraw earnings to pay taxes[149] Initial Public Offering - The company completed its initial public offering on November 22, 2024, raising gross proceeds of $166,000,000 from the sale of 16,600,000 units at $10.00 per unit[143] - The company incurred $10,605,256 in initial public offering-related costs, including $3,320,000 in cash underwriting fees and $6,640,000 in deferred underwriting fees[144] Advisory Services and Costs - The company has entered into an advisory services agreement with Volta Tread LLC, with fees paid amounting to $177,718 for the three months and $367,633 for the six months ended June 30, 2025[146] - The company expects to continue incurring significant costs in pursuit of its acquisition plans, raising concerns about its ability to continue as a going concern within one year after the issuance of its financial statements[153] Financial Position and Obligations - As of June 30, 2025, the company had cash of $1,040,643 held outside of the trust account, intended for evaluating target businesses and due diligence[150] - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and has a monthly obligation of $30,000 for office space and administrative support[154][155] Regulatory and Reporting Status - Management does not believe that any recently issued accounting standards would materially affect the Company's financial statements[165] - The Company is classified as a smaller reporting company under Rule 12b-2 of the Exchange Act[165] - The Company is not required to provide additional market risk disclosures due to its reporting status[165]
Dynamix Corporation(DYNXU) - 2025 Q2 - Quarterly Report