AltEnergy Acquisition Corp.(AEAEU) - 2025 Q4 - Annual Report

Financial Position - As of December 31, 2025, the Trust Account held $6,196,874, approximately $12.00 per share, with an additional $18,708 in cash available for working capital [167]. - As of March 24, 2025, there were 6,488,146 issued and outstanding shares, including 6,238,146 Class A Shares and 250,000 Class B Shares [162]. - As of December 31, 2025, the shares of Class A common stock subject to possible redemption amounted to $6,297,899, classified as temporary equity [182]. Revenue and Expenses - The net loss for the year ended December 31, 2025, was $2,339,611, which included interest income of $283,899 and a loss of $308,100 on the change in fair value of derivative warrant liabilities [169]. - The company has not generated any revenues to date and only incurs expenses related to being a public company and due diligence for business combinations [164]. - The company incurred operating expenses totaling $2,028,609 for the year ended December 31, 2025 [165]. Business Combination Plans - The company intends to use all funds in the Trust Account to complete an initial business combination, with additional financing potentially required if public shares are redeemed [171]. - Stockholders approved an extension of the deadline for completing a business combination from May 2, 2025, to May 1, 2026, at the April 2025 Special Meeting [162]. - The company plans to use funds held outside the Trust Account primarily for business, legal, and financial due diligence related to a business combination [168]. Financial Viability - The company may lack sufficient financial resources to sustain operations for a reasonable period, raising substantial doubt about its ability to continue as a going concern [170]. - The Sponsor provided a total of $1,465,000 in loans for working capital purposes during the year ended December 31, 2025, with an outstanding balance of $3,800,000 plus accrued interest as of December 31, 2025 [175]. - The Company has no long-term debt or capital lease obligations, with a monthly fee of $15,000 for office space and administrative support, which will accrue and be payable upon completion of a business combination [177]. Securities and Valuation - The Company has no off-balance sheet financing arrangements as of December 31, 2025, and does not participate in transactions that create relationships with unconsolidated entities [176]. - The Company will pay B. Riley Securities, Inc. a cash fee of 3.5% of the gross proceeds of the Public Offering upon consummation of the initial business combination [178]. - The Public Warrants were valued using publicly available prices and classified as Level 1 on the Fair Value Hierarchy as of December 31, 2025 [185]. - The Company has no dilutive securities or contracts that could potentially be exercised or converted into common stock as of December 31, 2025, resulting in diluted net income per common share being the same as basic net income per common share [187]. Accounting Changes - The Company adopted ASU 2023-09 for the annual period beginning January 1, 2025, enhancing transparency in income tax disclosures [189].