IPO and Financial Proceeds - The Company completed its IPO on October 23, 2024, issuing 23,000,000 units at $10.00 per unit, generating gross proceeds of $230,000,000[82]. - The Underwriter received a $4,025,000 underwriting discount at IPO closing, representing 1.75% of the gross proceeds of the IPO[104]. - The Sponsor and Underwriter purchased Private Units generating total proceeds of $7,075,000[83]. Financial Performance - As of December 31, 2025, the Company reported net income of $9,225,582, consisting of $9,879,114 in investment income and $653,532 in general and administrative expenses[98]. - The Company generated non-operating income from interest on marketable securities, with no operating revenues expected until after a Business Combination[97]. - The Company held a cash balance of $541,650 as of December 31, 2025, with no Working Capital Loans outstanding[99][101]. - The Company incurred $132,836 in general and administrative expenses for the period from July 15, 2024, to December 31, 2024[98]. Trust Account and Business Combination - The Company placed $231,150,000 ($10.05 per unit) in a trust account, which is intended for use in a Business Combination[87]. - The Company has until 24 months from the IPO closing to complete a Business Combination, or it will redeem 100% of the outstanding Public Shares[94]. - The redemption value of the trust account was approximately $10.57 per share as of December 31, 2025[91]. Share Issuance and Equity - On July 19, 2024, the company issued 5,750,000 Class B ordinary shares to the Sponsor for a total purchase price of $25,000[105]. - As of December 31, 2025, there was no outstanding balance under the promissory notes issued to the Sponsor, which allowed borrowing up to $180,000[109]. - Common stock subject to possible redemption is classified as temporary equity at redemption value, outside of stockholders' equity[119]. - The company recognizes changes in redemption value immediately and adjusts the carrying value of redeemable shares accordingly[120]. Administrative and Tax Matters - The company entered into an administrative services agreement with the Sponsor for a monthly fee of $20,000[110]. - The company has identified critical accounting policies that require management to make estimates and assumptions affecting reported amounts of assets and liabilities[113]. - The company is classified as an "emerging growth company" and is exempt from certain reporting requirements under the JOBS Act[114]. - As of December 31, 2025, the company had no cash equivalents[118]. - There were no unrecognized tax benefits as of December 31, 2025, and no amounts accrued for interest and penalties[123]. - The company does not incur income taxes in the Cayman Islands, as income taxes are not levied[124].
Aldel Financial II Inc.(ALDF) - 2025 Q4 - Annual Report