Launch One Acquisition Corp.(LPAA) - 2025 Q2 - Quarterly Report
Launch One Acquisition Corp.Launch One Acquisition Corp.(US:LPAA)2025-08-14 20:30

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $1,922,018, primarily from interest earned on marketable securities held in the Trust Account of $2,547,714[145]. - For the six months ended June 30, 2025, the company had a net income of $4,209,431, with interest earned on marketable securities totaling $4,996,750[146]. Assets and Liabilities - As of June 30, 2025, the company had cash and marketable securities in the Trust Account amounting to $240,554,492, consisting of short-term debt securities issued by the U.S. Department of the Treasury[153]. - As of June 30, 2025, the company had $263,740 in its operating bank account and a working capital surplus of $183,171[154]. Initial Public Offering - The company completed its Initial Public Offering on July 15, 2024, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at $10.00 per Unit[149]. - The company incurred transaction costs of $15,574,281 related to the Initial Public Offering, which included a cash underwriting fee of $4,000,000 and a Deferred Fee of $10,950,000[150]. Business Operations - The company has not generated any operating revenues to date and will not do so until after the completion of its initial Business Combination[144]. - The company expects to incur increased expenses as a result of being a public company, including legal and financial reporting costs[144]. - The company may need to raise additional capital through loans or investments to support its acquisition plans[155]. - The company has entered into a Business Combination Agreement with Minovia, which is expected to result in the company becoming a wholly owned subsidiary of Pubco[142]. Accounting and Reporting - Management does not anticipate that any recently issued accounting standards will materially affect the unaudited condensed financial statements[165]. - The company qualifies as a smaller reporting company and is not required to provide additional market risk disclosures[166].