Launch Two Acquisition Corp. Releases Q3 2024 10-Q Report

Launch Two Acquisition Corp., a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, has released its Form 10-Q report for the third quarter of 2024. The report provides insights into the company's financial performance and operational activities since its inception on May 13, 2024.

Financial Highlights

• Net Loss: $16,084 for the three months ended September 30, 2024, and $55,144 for the period from May 13, 2024 (inception) through September 30, 2024, primarily due to general and administrative costs.
• Net Loss Per Share: $(0.00) for the three months ended September 30, 2024, and $(0.01) for the period from May 13, 2024 (inception) through September 30, 2024, based on weighted average shares outstanding of Class B ordinary shares.

Business Highlights

• Company Overview: Launch Two Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
• Initial Public Offering: The company successfully completed its Initial Public Offering on October 9, 2024, raising gross proceeds of $230 million through the sale of 23 million units, including the full exercise of the underwriters' over-allotment option.
• Private Placement Warrants: Simultaneously with the IPO, the company sold 7,075,000 Private Placement Warrants to its sponsor and Cantor Fitzgerald & Co., generating additional gross proceeds of $7.075 million.
• Business Combination Strategy: The company intends to use the proceeds from the IPO and Private Placement Warrants to complete a Business Combination. The management has broad discretion in applying these funds towards consummating a Business Combination.
• Trust Account: Post-IPO, $231.15 million was placed in a trust account to be used for the Business Combination. The funds are invested in U.S. government treasury obligations or money market funds.
• Future Outlook: The company is focused on identifying and evaluating potential target businesses for a Business Combination. It expects to incur significant costs related to this pursuit and is subject to new SEC rules for SPACs that may impact its operations.
• Operational Activities: As of September 30, 2024, the company had not commenced any operations beyond organizational activities and preparations for the IPO. It will not generate operating revenues until after completing a Business Combination.

SEC Filing: Launch Two Acquisition Corp. Releases Q3 2024 [ NASDAQ:LPBB ] - 10-Q - Nov. 19, 2024