Financial Position - As of September 30, 2025, the company had an unrestricted cash balance of $405,611 and investments held in the Trust Account amounting to $267,257,648[105]. - As of September 30, 2025, the company had $157,873 in accounts payable and accrued expenses, indicating ongoing operational costs[109]. - The Company has no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities, and has not conducted any operations to date[121]. Income and Loss - For the three months ended September 30, 2025, the company reported a net income of $2,514,794 and a loss from operations of $251,405, with non-operating income of $2,766,199[107]. - The company generated a net loss of $49,328 for the three months ended September 30, 2024, with no significant non-operating income reported during that period[108]. Initial Public Offering - The company completed its Initial Public Offering on October 25, 2024, raising gross proceeds of $250,000,000 from the sale of 25,000,000 Units at $10.00 per Unit[112]. - A total of $258,000,000 from the Initial Public Offering proceeds was placed in the Trust Account, which is intended for the completion of the initial Business Combination[113]. - The Company granted underwriters a 45-day option to purchase up to 3,750,000 Over-Allotment Option Units, with 800,000 units issued and sold as a result of partial exercise[123]. - The Company received an underwriting discount of $0.15 per Unit, totaling $3,870,000, upon the closing of the Initial Public Offering and Over-Allotment Option[125]. - Underwriters are entitled to a deferred fee of $0.35 per Unit, potentially totaling up to $9,030,000, payable only upon completion of a Business Combination[124]. Business Combination and Financing - The company expects to incur approximately $1,509,000 for legal, accounting, and due diligence expenses related to structuring and negotiating Business Combinations[117]. - The company may need to seek additional financing to complete its initial Business Combination if the cash required exceeds the available funds in the Trust Account[119]. - The Company must complete its initial Business Combination by October 25, 2026, with substantial doubt about its ability to operate as a going concern due to the approaching liquidation date[120]. Operational Activities - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational efforts and preparations for the Initial Public Offering[106]. - The company anticipates increased expenses as a result of being a public entity, including legal and compliance costs[106]. - An Administrative Services and Indemnification Agreement was entered into, with the Company incurring $45,000 and $135,000 for services for the three and nine months ended September 30, 2025, respectively[122]. Accounting Standards - The Company accounts for Class A ordinary shares subject to possible redemption as temporary equity, adjusting their carrying value to equal the redemption value at each reporting period[128]. - The FASB issued Accounting Standards Update 2023-07, which the Company plans to adopt for the annual period ending December 31, 2024, enhancing segment reporting disclosures[130]. - Management does not anticipate that recently issued accounting standards will materially affect the financial statements[131].
Bold Eagle Acquisition Corp.(BEAG) - 2025 Q3 - Quarterly Report