Financial Position - As of June 30, 2025, the company had an unrestricted cash balance of $131,948 and investments held in the Trust Account amounting to $264,991,449[105]. - As of June 30, 2025, the company had $101,885 in accounts payable and accrued expenses[109]. - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational and preparatory efforts for the Initial Public Offering[106]. Income and Loss - For the three months ended June 30, 2025, the company reported a net income of $2,548,592 and a loss from operations of $186,011, with non-operating income of $2,734,603[107]. - The company generated a net loss of $6,412 for the three months ended June 30, 2024, with a loss from operations of $27,630[108]. Initial Public Offering - The company completed its Initial Public Offering on October 25, 2024, raising gross proceeds of $250,000,000 from the sale of 25,000,000 Units at $10.00 per Unit[112]. - A total of $258,000,000 from the Initial Public Offering proceeds was placed in the Trust Account, which is intended for the Business Combination[113]. - The underwriters received an underwriting discount of $0.15 per Unit, totaling $3,870,000 upon the closing of the Initial Public Offering and the Over-Allotment Option[124]. - The Company granted the underwriters a 45-day option to purchase up to 3,750,000 Over-Allotment Option Units, with 800,000 units sold as a result of the exercised option[122]. - The Company received reimbursements of $1,290,000 and $40,000 from underwriters for expenses related to the Initial Public Offering and Over-Allotment Option, respectively[124]. Business Combination - The company expects to incur approximately $1,509,000 for legal, accounting, and due diligence expenses related to Business Combinations[117]. - The company intends to use substantially all funds in the Trust Account for the initial Business Combination and may withdraw interest for permitted withdrawals[114]. - The company may need to seek additional financing to complete its initial Business Combination if cash requirements exceed available funds in the Trust Account[119]. - The deferred fee to the underwriters is $0.35 per Unit, amounting to $9,030,000 in total, payable only upon completion of a Business Combination[123]. Accounting and Reporting - Class A ordinary shares subject to possible redemption are classified as temporary equity and presented at redemption value, affecting the carrying value adjustments[127]. - The Company adopted ASU 2023-07 for the annual period ending December 31, 2024, which enhances reportable segment disclosure requirements[129]. - Management does not anticipate that recently issued accounting standards will materially affect the financial statements[130]. - The Company incurred $45,000 and $90,000 for administrative services under the Administrative Services and Indemnification Agreement for the three and six months ended June 30, 2025, respectively[121]. - As of June 30, 2025, $15,000 and $30,000 are included in accounts payable and accrued expenses related to the Administrative Services Agreement[121].
Bold Eagle Acquisition Corp.(BEAG) - 2025 Q2 - Quarterly Report