Launch Two Acquisition Corp., a blank check company incorporated in the Cayman Islands, reported its financial performance for the period ending December 31, 2024, in its recent 10-K filing. The company generated a net income of $2.1 million, primarily from interest income on cash and marketable securities held in its Trust Account, which amounted to approximately $233.4 million. This figure reflects a significant increase in interest income compared to the previous fiscal period, attributed to the larger cash balance following its Initial Public Offering (IPO).
The company successfully completed its IPO on October 9, 2024, raising gross proceeds of $230 million from the sale of 23 million units, which included the full exercise of an over-allotment option. Additionally, it raised $7.1 million through a private placement of warrants. As of the end of 2024, Launch Two Acquisition Corp. had approximately $935,701 in cash available for operational expenses, with total assets reported at $234.4 million. The company has not yet identified a specific target for its initial business combination but is actively seeking opportunities in the technology, financial services, and asset management sectors.
In terms of operational metrics, the company has not yet commenced any revenue-generating activities, as it is still in the process of identifying a suitable business combination target. The management team, led by CEO Jay McEntee and CFO Jurgen van de Vyver, is focused on leveraging their extensive experience in the financial services and technology sectors to identify potential acquisition opportunities. The company has established a Trust Account to hold the proceeds from its IPO, which will be used to finance its business combination.
Looking ahead, Launch Two Acquisition Corp. has until October 9, 2026, to complete its initial business combination, in accordance with Nasdaq rules. The company may seek to extend this period, subject to shareholder approval, which could impact the amount held in its Trust Account. The management has indicated that they are prepared to navigate potential market challenges, including economic volatility and geopolitical tensions, which could affect their ability to identify and complete a business combination. The company remains committed to maintaining compliance with regulatory requirements and ensuring shareholder value throughout this process.
About Launch Two Acquisition Corp.
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