Financial Performance - The company reported a net income of $2,939,147 for the three months ended June 30, 2025, primarily due to interest earned on investments held in the Trust Account of $1,733,912 [114]. - For the six months ended June 30, 2025, the company had a net income of $2,899,551, with similar sources of income as the quarterly report [115]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $225,000,000 from the sale of 22,500,000 Public Units at a price of $10.00 per Unit [117]. - After the IPO and Private Placement, a total of $226,125,000 was placed in the Trust Account, amounting to $10.05 per Unit [117]. - Offering costs incurred totaled $14,006,902, which included underwriting fees of $4,500,000 and deferred underwriting fees of $9,000,000 [118]. Trust Account and Business Combination - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination, with remaining proceeds used for working capital [119]. - The company may need to raise additional capital through loans or investments to finance transaction costs related to the initial Business Combination [124]. Financial Position - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025 [125]. - Monthly administrative service fees of $10,000 began on April 24, 2025, and will continue until the completion of the Business Combination or liquidation [126]. Accounting Policies - The company has identified critical accounting policies, including the estimated fair value of warrant liabilities, which may affect reported financial results [128].
Texas Ventures Acquisition III Corp Unit(TVACU) - 2025 Q2 - Quarterly Report