Financial Performance - The company reported a net loss of approximately $63,000 for the three months ended June 30, 2025, compared to a net loss of approximately $3,000 for the same period in 2024 [132]. - For the six months ended June 30, 2025, the company had a net loss of approximately $90,000, which included approximately $88,000 in general and administrative expenses [133]. - The net loss per ordinary share is calculated by dividing the net loss applicable to shareholders by the weighted average number of ordinary shares outstanding [144]. Initial Public Offering - The company completed its Initial Public Offering on June 27, 2025, raising $276 million from the sale of 27.6 million Class A ordinary shares at $10.00 per share, including $5.8 million from a private placement [122][123]. - The company has engaged Cantor Fitzgerald & Co. as an advisor for the Business Combination, agreeing to pay a fee of $10.38 million, which is 3.5% of the gross proceeds from the Initial Public Offering [135]. Business Combination - The company has until June 27, 2027, to complete its Business Combination, or it will liquidate and redeem Public Shares at a price equal to the amount in the Trust Account [125]. - The Sponsor has committed to provide up to $1.75 million in loans to cover transaction costs related to the Business Combination, with no amounts drawn as of June 30, 2025 [129][137]. - The SEC's new rules for SPACs, effective July 1, 2024, may impact the company's ability to negotiate and complete its Business Combination, potentially increasing costs and time [126]. Financial Position - As of June 30, 2025, the company had approximately $405,000 in cash and a working capital of approximately $357,000, compared to a working capital deficit of approximately $164,000 as of December 31, 2024 [128]. - The company has not generated any operating revenues to date and will only generate non-operating income from interest on amounts held in the Trust Account [131]. - The company has 27,600,000 Class A ordinary shares subject to possible redemption as of June 30, 2025, classified as temporary equity [142]. - There were no off-balance sheet arrangements or contractual obligations as of June 30, 2025 [146]. Target Business Focus - The company is focusing its search for target businesses in sectors such as financial services, digital assets, healthcare, real estate services, technology, and software [121].
Cantor Equity Partners III Inc-A(CAEP) - 2025 Q2 - Quarterly Report