Inflection Point Acquisition Corp. II(IPXXU) - 2024 Q1 - Quarterly Report

Financial Performance - For the three months ended March 31, 2024, the company reported a net income of $2,919,167, primarily from interest and dividend income of$3,349,913 on marketable securities held in the Trust Account[95]. - Cash used in operating activities for the three months ended March 31, 2024, was $156,457, with net income affected by dividend income from marketable securities[100]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a Business Combination[94]. 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, along with an additional$7,650,000 from the sale of Private Placement Warrants[98]. - The company incurred transaction costs of $18,361,877 related to the IPO, including$4,400,000 in cash underwriting discounts and $13,100,000 in deferred underwriting fees[99]. - The company may need to raise additional capital to finance working capital or transaction costs related to its initial Business Combination[105]. Assets and Securities - As of March 31, 2024, the company had marketable securities in the Trust Account valued at$262,321,431, consisting of U.S. government treasury obligations and money market funds[101]. - As of March 31, 2024, the company had cash of $119,208 available for identifying and evaluating target businesses[102]. - The company has no off-balance sheet arrangements or obligations as of March 31, 2024[108]. Liabilities and Obligations - The company has no long-term debt or capital lease obligations, but incurs a monthly fee of$27,083 for services provided by The Venture Collective LLC[109].