LightWave Acquisition Corp Unit(LWACU) - 2025 Q2 - Quarterly Report

Financial Performance - The company reported a net loss of $360,686 for the three months ended June 30, 2025, primarily due to general and administrative costs of $87,167 and compensation expense of $372,000, offset by earnings on investments of $98,309 [111]. - Cash used in operating activities from January 22, 2025, through June 30, 2025, was $62,454, with a net loss of $407,872 impacted by earnings on investments of $98,309 [115]. - The company does not expect to generate operating revenues until after the completion of its Business Combination [110]. Initial Public Offering - Total gross proceeds from the Initial Public Offering amounted to $215,625,000, following the full exercise of the underwriters' over-allotment option of 2,812,500 units [113]. - The company incurred $12,386,896 in Initial Public Offering related costs, which included $4,312,500 in cash underwriting fees and $7,546,875 in deferred underwriting fees [114]. Investments and Cash Position - As of June 30, 2025, the company had investments held in the Trust Account totaling $215,723,309, consisting of mutual funds invested in money market funds [116]. - The company had cash of $1,140,316 as of June 30, 2025, intended for identifying and evaluating target businesses and conducting due diligence [117]. - The company plans to use substantially all funds in the Trust Account to complete its Business Combination and for working capital of the target business [116]. Financial Stability - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025, and incurs monthly fees of $10,000 for office space and administrative support [120][121]. - Management believes the company has sufficient funds to finance its working capital needs within one year from the date of the financial statement issuance [119].