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Inflection Point Acquisition Corp. II(IPXXU) - 2023 Q1 - Quarterly Report
IPXXUInflection Point Acquisition Corp. II(IPXXU)2023-07-10 21:26

Financial Performance - The company reported a net loss of 6,203fortheperiodfromMarch6,2023,toMarch31,2023[74].−Thereissubstantialdoubtaboutthecompany′sabilitytocontinueasagoingconcernifaBusinessCombinationisnotconsummatedwithinoneyear[84].InitialPublicOffering(IPO)−TheInitialPublicOffering(IPO)generatedgrossproceedsof6,203 for the period from March 6, 2023, to March 31, 2023[74]. - There is substantial doubt about the company's ability to continue as a going concern if a Business Combination is not consummated within one year[84]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of 250,000,000 from the sale of 25,000,000 Units at 10.00perUnit[77].−Anadditional10.00 per Unit[77]. - An additional 7,650,000 was raised through the sale of 7,650,000 Private Placement Warrants at 1.00each[77].−TotalfundsplacedintheTrustAccountamountedto1.00 each[77]. - Total funds placed in the Trust Account amounted to 251,250,000, with a per Unit value of 10.05[78].−TransactioncostsincurredduringtheIPOtotaled10.05[78]. - Transaction costs incurred during the IPO totaled 18,361,877, including 4,400,000incashunderwritingdiscounts[78].−Theunderwritersareentitledtoadeferredunderwritingcommissionof4,400,000 in cash underwriting discounts[78]. - The underwriters are entitled to a deferred underwriting commission of 13,100,000 upon the completion of the initial Business Combination[87]. Business Combination Plans - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[79]. - Monthly fees of $27,083.33 will be paid to The Venture Collective LLC for services until the completion of the Business Combination[86]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2023[85].