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 and $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 and $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 Proceeds - The Company generated gross proceeds of $230,000,000 from its IPO of 23,000,000 units sold at $10.00 per unit[89] - The Company placed $231,150,000 ($10.05 per unit) in a Trust Account from the IPO and Private Placement proceeds[94] - The Company retained approximately $1,900,000 for working capital and payment of IPO-related expenses from the proceeds of the IPO and Private Placement[109] - The underwriter received a $4,025,000 underwriting discount at IPO closing, representing 1.75% of the gross proceeds of the IPO[114] Cash and Assets - As of September 30, 2025, the Company held a cash balance of $746,386[107] - As of September 30, 2025, the company had no off-balance sheet arrangements, obligations, assets, or liabilities[112] Business Operations - 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] - The Company has until 24 months from the closing of the IPO to complete a Business Combination[101] Share Issuance and Agreements - The company issued 5,750,000 Class B ordinary shares to the Sponsor for an aggregate purchase price of $25,000 in cash on July 19, 2024[115] - An additional 410,714 Founder Shares were issued to the Sponsor for an approximate aggregate purchase price of $1,666 on September 25, 2024[117] - The company has a promissory note with the Sponsor allowing borrowing up to $180,000, with no outstanding balance as of September 30, 2025[119][120] - The company entered into an administrative services agreement with the Sponsor for a monthly fee of $20,000[121] Accounting and Tax - 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, there were no unrecognized tax benefits and no amounts accrued for interest and penalties[134] - 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][126]
Aldel Financial II Inc.(ALDF) - 2025 Q3 - Quarterly Report