Inflection Point Acquisition Corp. II(IPXXU) - 2023 Q4 - Annual Report

Financial Performance - The company had a net income of $6,748,069 for the period from March 6, 2023, through December 31, 2023, primarily from dividend income of$7,721,518 on marketable securities[364]. - Cash used in operating activities from inception through December 31, 2023, was $948,006[368]. - The company does not expect to generate operating revenues until after completing a business combination[363]. IPO and Capital Raising - The company completed its IPO on May 30, 2023, raising gross proceeds of$250,000,000 from the sale of 25,000,000 Units at $10.00 per Unit[366]. - Following the IPO, a total of$251,250,000 was placed in the Trust Account, with transaction costs amounting to $18,361,877[367]. - The company may need to raise additional capital to finance working capital or transaction costs related to its initial business combination[373]. Assets and Liabilities - As of December 31, 2023, the company held marketable securities in the Trust Account valued at$258,971,518[369]. - The company has no long-term debt or off-balance sheet arrangements as of December 31, 2023[374]. - The company has identified critical accounting policies that may affect reported amounts of assets and liabilities[377]. Operational Expenses - The company incurred monthly fees of $27,083 to The Venture Collective LLC for services, which will continue until the completion of a business combination or liquidation[375].