Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $490,729, with earnings from investments held in the Trust Account amounting to $998,578 [113]. - For the six months ended June 30, 2025, the company had a net income of $327,628, with general and administrative costs totaling $489,700 and share-based compensation expense of $181,250 [114]. - Cash provided by operating activities for the six months ended June 30, 2025, was $869,178, influenced by changes in operating assets and liabilities which provided $1,288,862 [118]. Initial Public Offering - The company completed its Initial Public Offering on May 16, 2025, raising gross proceeds of $201,250,000 from the sale of 20,125,000 Units [116]. - The company incurred $10,727,318 in costs related to the Initial Public Offering, including $1,500,000 in cash underwriting fees and $7,568,750 in deferred underwriting fees [117]. Trust Account and Investments - As of June 30, 2025, the company's investment in the Trust Account consisted of money market funds totaling $202,248,578 [120]. - As of June 30, 2025, the company had cash of $0 and $603,901 due from the Sponsor, which will be used for identifying and evaluating target businesses [121]. Debt and Obligations - The company does not have any long-term debt or capital lease obligations, with a monthly payment of $30,000 to the Sponsor for administrative services [126]. - The company has no off-balance sheet arrangements as of June 30, 2025, and does not participate in transactions that create relationships with unconsolidated entities [125]. Going Concern - 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 [124].
Thayer Ventures Acquisition Corp II Unit(TVAIU) - 2025 Q2 - Quarterly Report