Centurion Acquisition Corp., classified as a shell company, reported its financial results for the three months ended September 30, 2024, revealing a net income of $4,049,229. This figure reflects a significant increase compared to the net income of $612,185 for the period from its inception on January 18, 2024, through September 30, 2024. The company earned $4,234,534 in interest from cash and marketable securities held in its Trust Account during the quarter, contributing to a total interest income of $4,927,031 since inception.

The company’s basic and diluted net income per share for Class A ordinary shares subject to possible redemption was reported at $0.11 for the third quarter, while it stood at $0.24 for the total period from inception to September 30, 2024. Notably, Centurion Acquisition Corp. experienced a net loss of $(47,487) for the three months ended September 30, 2024, which contrasts with the overall net income of $4,613,927 since inception.

Centurion completed its Initial Public Offering (IPO) on June 12, 2024, selling 28,750,000 units at $10.00 each, generating gross proceeds of $287,500,000. The total transaction costs associated with the IPO amounted to $19,500,452, which included cash underwriting fees of $5,000,000 and a deferred underwriting fee of $13,687,500. The Trust Account post-IPO holds $287,500,000, primarily invested in U.S. Treasury securities.

As of September 30, 2024, the company had $781,921 in its operating bank account and working capital of $798,123. The company is required to complete its initial business combination by June 12, 2026, or face automatic winding up and liquidation. Management believes that the available funds will sustain operations for at least one year from the issuance date of the financial statements.

In terms of share structure, as of September 30, 2024, there were 28,750,000 Class A ordinary shares and 7,187,500 Class B ordinary shares issued and outstanding. The Class A shares are subject to possible redemption, with a total redemption value of $292,426,838. The company has not recognized any stock-based compensation expense related to the founder shares, as a business combination is not considered probable at this time.

Overall, Centurion Acquisition Corp. is positioned to pursue its strategic objectives while maintaining a focus on its financial health and operational sustainability.