Financial Performance - The company reported a net income of $1,056,869 for the three months ended September 30, 2025, consisting of interest earned on cash held in the Trust Account of $1,286,531, partially offset by operational costs of $229,662[101]. - For the nine months ended September 30, 2025, the company had a net income of $3,153,849, with interest earned on cash held in the Trust Account amounting to $3,778,478, offset by operational costs of $624,629[101]. - The company incurred cash used in operating activities of $396,561 for the nine months ended September 30, 2025, with net income affected by interest earned on cash held in the Trust Account[107]. Initial Public Offering - The company generated gross proceeds of $100,000,000 from the Initial Public Offering of 10,000,000 units at $10.00 per unit on May 21, 2024[104]. - Following the Initial Public Offering, an aggregate of $115,575,000 was placed in the Trust Account, with transaction costs incurred totaling $5,975,732[106]. Trust Account and Cash Management - As of September 30, 2025, the company had cash held in the Trust Account of $122,872,409, which is intended to be used for completing the Business Combination[109]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025, and incurs a monthly fee of $10,000 to the Sponsor for administrative support[116][117]. Business Combination Plans - The company intends to focus its Business Combination search on businesses in Asia within the deep technology sector, including artificial intelligence, quantum computing, and biotechnology[95]. - The Business Combination Agreement was entered into on October 2, 2025, involving a merger with PubCo and subsequent amalgamation with Nanyang[97][98]. - The company may need to obtain additional financing to complete its Business Combination or due to potential redemptions of Public Shares, which could affect liquidity[113].
RF Acquisition Corp II(RFAI) - 2025 Q3 - Quarterly Report