Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,098,161, driven by interest income of $2,442,453 from marketable securities held in the Trust Account[117]. - For the six months ended June 30, 2025, the company incurred a net loss of $4,205,602, with operating costs amounting to $7,365,988 and interest income of $3,160,386[117]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on March 3, 2025, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit[118]. - Following the IPO and the sale of Private Placement Warrants, a total of $231,150,000 was placed in the Trust Account, after incurring offering costs of $7,723,148[119]. Trust Account and Marketable Securities - As of June 30, 2025, the company held marketable securities in the Trust Account valued at $234,310,386, including approximately $3,160,386 of interest income[121]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital to finance operations of the target business[121]. Cash Flow and Operating Activities - Cash used in operating activities for the six months ended June 30, 2025, was $431,847, with changes in operating assets and liabilities providing $6,931,890 of cash[120]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and has incurred $70,000 under an agreement for office space and administrative support[126][127]. - The company may need to raise additional funds to complete its Business Combination or to cover redemptions of Public Shares, which could involve issuing additional securities or incurring debt[124]. Business Operations - The company has not engaged in any operations or generated revenues to date, with activities focused on organizational efforts and identifying acquisition candidates[116].
Live Oak Acquisition Corp V Unit(LOKVU) - 2025 Q2 - Quarterly Report