AltEnergy Acquisition p(AEAE) - 2022 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2022, the company reported a net income of $908,400, compared to a net loss of $50,653 for the same period in 2021[110] - For the six months ended June 30, 2022, the company achieved a net income of $9,169,276, with interest income of $404,819 and a gain of $9,995,000 from the change in fair value of derivative warrant liability[112] - The company recorded an income tax provision of $452,793 for the three months ended June 30, 2022[110] Investments and Assets - As of June 30, 2022, the company had approximately $235.0 million in investments held in the Trust Account, primarily in U.S. government securities[113] - The company completed the sale of 23,000,000 Public Units at an offering price of $10.00 per unit, generating gross proceeds of $230,000,000[117] - The company has a working capital of approximately $629,000 and current liabilities of approximately $399,800 as of June 30, 2022[113] - The company has no long-term debt or capital lease obligations as of June 30, 2022[121] Business Operations - The company is required to complete an initial business combination within 18 months from the closing of the IPO, or it will cease operations and liquidate[116] - The company intends to use substantially all funds held in the Trust Account to complete an initial business combination[115] - The company has not engaged in any hedging activities since inception and does not expect to do so in the future[128]