Financial Performance - As of September 30, 2025, the Company reported a net income of $2,450,594 for the three months ended, consisting of $2,570,630 in investment income from the Trust Account, offset by $120,036 in general and administrative expenses[104] - For the nine months ended September 30, 2025, the Company reported a net income of $7,092,083, which includes $7,482,906 in investment income, offset by $390,823 in general and administrative expenses[104] - The Company incurred a net loss of $8,919 from inception to September 30, 2024, primarily due to general and administrative expenses[105] - Net income for the nine-month period ended September 30, 2025, was allocated to redeemable and non-redeemable shares of ordinary shares[136] IPO and Trust Account - The Company generated gross proceeds of $230,000,000 from its IPO of 23,000,000 Units sold at $10.00 per Unit, including 3,000,000 Units from the underwriters' over-allotment option[89] - The Company placed $231,150,000 ($10.05 per Unit) in a Trust Account, invested in U.S. government securities, until the completion of a Business Combination or distribution to shareholders[94] - The underwriter received a $4,025,000 underwriting discount at IPO closing, representing 1.75% of the gross proceeds of the IPO[114] - The company issued 5,750,000 Class B ordinary shares to the Sponsor for an aggregate purchase price of $25,000 in cash[115] Liquidity and Financial Position - As of September 30, 2025, the Company held a cash balance of $746,386, with liquidity needs previously satisfied through $25,000 from the Sponsor and a $180,000 loan from the Sponsor[107] - As of September 30, 2025, there was no outstanding balance under the promissory notes issued to the Sponsor, which allowed borrowing up to $180,000[120] - The fair value of the company's financial instruments approximates the carrying amounts in the balance sheets due to their short-term nature[137] Business Operations and Future Plans - The Company has until 24 months from the closing of the IPO to complete a Business Combination, or it will redeem 100% of the outstanding Public Shares at a price equal to the amount in the Trust Account[101] - The Company has not yet commenced any operations and does not expect to generate operating revenues until after completing a Business Combination[88] - The Company will generate non-operating income in the form of interest income from the Trust Account until a Business Combination is completed[103] Administrative and Tax Matters - The company entered into an administrative services agreement with the Sponsor for a monthly fee of $20,000[121] - There are currently no income taxes imposed on the company by the Government of the Cayman Islands, as income taxes are not levied[135] - The company is classified as an "emerging growth company" and has elected not to opt out of the extended transition period for new accounting standards[125] Shareholder and Redemption Matters - The company recognizes changes in redemption value of its ordinary shares immediately as they occur, adjusting the carrying value to equal the redemption value at the end of each reporting period[130] - As of September 30, 2025, the company had no off-balance sheet arrangements, obligations, assets, or liabilities[112]
Aldel Financial II Inc.(ALDFU) - 2025 Q3 - Quarterly Report