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Helix Acquisition(HLXB) - 2024 Q2 - Quarterly Report
HLXBHelix Acquisition(HLXB)2024-08-14 12:47

Financial Performance - For the three months ended June 30, 2024, the company reported a net income of 2,212,536,primarilyfrominterestearnedonmarketablesecuritiesheldintheTrustAccountof2,212,536, primarily from interest earned on marketable securities held in the Trust Account of 2,442,279[66] - For the six months ended June 30, 2024, the company had a net income of 3,312,978,withinterestincomefrommarketablesecuritiesamountingto3,312,978, with interest income from marketable securities amounting to 3,648,794[66] - As of June 30, 2024, the company held marketable securities in the Trust Account valued at 187,648,794,includingapproximately187,648,794, including approximately 3,648,794 of interest income[70] Initial Public Offering - The company completed its Initial Public Offering on February 13, 2024, raising gross proceeds of 184,000,000fromthesaleof18,400,000ClassAordinaryshares[67]−Thecompanyincurred184,000,000 from the sale of 18,400,000 Class A ordinary shares[67] - The company incurred 8,180,834 in costs related to the Initial Public Offering, which included a 1,840,000upfrontcashunderwritingfeeanda1,840,000 upfront cash underwriting fee and a 5,520,000 deferred underwriting fee[69] - The total net proceeds from the Initial Public Offering and private placement amounted to 186,496,493,with186,496,493, with 184,000,000 placed in the Trust Account[85] - The underwriting fees deducted from the total proceeds exclude a deferred portion of 5,520,000,payableupontheconsummationoftheinitialBusinessCombination[85]CashFlowandFinancing−CashusedinoperatingactivitiesforthesixmonthsendedJune30,2024,was5,520,000, payable upon the consummation of the initial Business Combination[85] Cash Flow and Financing - Cash used in operating activities for the six months ended June 30, 2024, was 647,098, with no cash flows from operating activities reported for the same period in 2023[69] - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2024[74] - The company may need additional financing to complete its Business Combination or to cover redemptions of Public Shares[73] Business Combination - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[70] - The company has 24 months from the Initial Public Offering to complete its initial Business Combination[73] Compliance and Reporting - There were no defaults upon senior securities reported[86] - No mine safety disclosures were made in the report[86] - The report includes various exhibits related to agreements and certifications, but no specific financial performance metrics were disclosed[87] - The report was signed by the Chairperson and Chief Executive Officer, Bihua Chen, and the Chief Financial Officer, Caleb Tripp, on August 14, 2024[91]