Financial Performance - The company reported a net loss of $14,514 for the period from June 12, 2025, to June 30, 2025, primarily due to general and administrative costs[122]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2025[131]. - The company has a contractual obligation to pay $20,000 per month for office space and administrative services[132]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $230,000,000 from the sale of 23,000,000 Units, including the full exercise of the over-allotment option[124]. - An additional $7,750,000 was raised from the sale of 775,000 Private Placement Units at $10.00 per unit[124]. - Total funds placed in the Trust Account after the IPO amounted to $231,150,000, with transaction costs incurred totaling $5,370,179[126]. - The underwriters were granted a 45-day option to purchase up to 3,000,000 additional Units, which was fully exercised[133]. - The company will pay underwriters a cash fee of 4.0% of the gross proceeds of the IPO, amounting to $9,200,000, upon the consummation of the initial Business Combination[134]. Future Plans - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital purposes[127]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to the Business Combination[130].
OTG Acquisition(OTGAU) - 2025 Q2 - Quarterly Report