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Inflection Point Acquisition Corp. II(IPXXU) - 2023 Q2 - Quarterly Report
IPXXUInflection Point Acquisition Corp. II(IPXXU)2023-08-11 23:35

Financial Performance - The company reported a net income of 830,819forthethreemonthsendedJune30,2023,primarilyfrominterestearnedonmarketablesecuritiesheldintheTrustAccount[86].−OperatingcostsforthethreemonthsendedJune30,2023,were830,819 for the three months ended June 30, 2023, primarily from interest earned on marketable securities held in the Trust Account[86]. - Operating costs for the three months ended June 30, 2023, were 228,650, leading to a net income of 830,819afteraccountingforinterestincome[86].−CashusedinoperatingactivitiesfrominceptionthroughJune30,2023,was830,819 after accounting for interest income[86]. - Cash used in operating activities from inception through June 30, 2023, was 602,933, with net income affected by interest income of 1,059,469[91].InitialPublicOffering−TotalgrossproceedsfromtheInitialPublicOfferingamountedto1,059,469[91]. Initial Public Offering - Total gross proceeds from the Initial Public Offering amounted to 250,000,000, with an additional 7,650,000generatedfromthesaleofPrivatePlacementWarrants[89].−Thecompanyincurredtransactioncostsof7,650,000 generated from the sale of Private Placement Warrants[89]. - The company incurred transaction costs of 18,361,877 related to the Initial Public Offering, including 4,400,000incashunderwritingdiscounts[90].MarketableSecurities−AsofJune30,2023,thecompanyheldmarketablesecuritiesintheTrustAccountvaluedat4,400,000 in cash underwriting discounts[90]. Marketable Securities - As of June 30, 2023, the company held marketable securities in the Trust Account valued at 252,309,469[92]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2023[98]. - Monthly fees of $27,083.33 are payable to The Venture Collective LLC for services until the completion of a Business Combination[99]. Future Capital Needs - The company may need to raise additional capital to finance transaction costs or working capital deficits related to the initial Business Combination[97]. - The company does not expect to generate operating revenues until after the completion of a Business Combination[85].