Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $2,367,013, primarily from interest income of $2,544,350 on cash and marketable securities held in the Trust Account[117]. - For the six months ended June 30, 2025, the company achieved a net income of $4,582,865, with interest income of $4,940,148 and unrealized gains of $25,679 on marketable securities[118]. - Cash used in operating activities for the six months ended June 30, 2025, was $316,414, with net income affected by interest earned on marketable securities[122]. Assets and Securities - As of June 30, 2025, the company held marketable securities in the Trust Account amounting to $238,504,166, which will be used to complete the Business Combination[124]. - The company generated gross proceeds of $230,000,000 from the Initial Public Offering of 23,000,000 Units at $10.00 per Unit[121]. Expenses and Fees - The company incurred $75,000 in administrative service fees as of June 30, 2025, under an agreement to pay $12,500 per month[130]. - The underwriters of the Initial Public Offering are entitled to a deferred fee of $10,950,000, payable upon the completion of the initial Business Combination[132]. Debt and Liquidity - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025[128]. - The company plans to raise additional capital to support its acquisition plans and may face liquidity challenges if unable to secure financing[126]. - Management has raised substantial doubt about the company's ability to continue as a going concern for the next twelve months due to liquidity concerns[127].
Launch Two Acquisition Corp(LPBB) - 2025 Q2 - Quarterly Report