Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $1,335,424, primarily from interest income on marketable securities of $1,514,706, offset by costs of $179,282 [121]. - The company generated non-operating income from interest on marketable securities, with net income for the nine months ended September 30, 2025, totaling $2,048,349 [121]. - The company incurred a net loss of $16,230 for the period from inception (September 13, 2024) through September 30, 2024, due to formation and administrative costs [122]. Initial Public Offering - The company completed its Initial Public Offering on May 8, 2025, raising gross proceeds of $143,750,000 from the sale of 14,375,000 Units at $10.00 per Unit [123]. - Total transaction costs incurred during the Initial Public Offering amounted to $6,637,469, which included a cash underwriting fee of $550,000 and deferred underwriting fees of $5,750,000 [124]. Financial Position - As of September 30, 2025, the company had marketable securities held in the Trust Account amounting to $146,497,545, including approximately $2,388,170 of interest income [127]. - As of September 30, 2025, the company had cash of $401,902 and a working capital surplus of $401,633, intended for identifying and evaluating target businesses [132]. - The company has no off-balance sheet arrangements or long-term liabilities, except for an agreement with the Sponsor for $15,000 per month for administrative support [134]. Future Capital Needs - The company may need to raise additional capital through loans or investments to meet working capital needs, raising concerns about its ability to continue as a going concern [133]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds for working capital and growth strategies [127].
Dune Acquisition Corp II Unit(IPODU) - 2025 Q3 - Quarterly Report