Helix Acquisition(HLXB) - 2024 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $2,333,358, primarily from interest earned on marketable securities held in the Trust Account of$2,554,610[81]. - For the nine months ended September 30, 2024, the company had a net income of $5,646,336, with interest earned on marketable securities totaling$6,203,404[82]. - As of September 30, 2024, the company held marketable securities in the Trust Account valued at $190,203,404, including$6,203,404 of interest income[87]. Initial Public Offering - The company completed its Initial Public Offering on February 13, 2024, raising gross proceeds of $184,000,000 from the sale of 18,400,000 Class A ordinary shares[84]. - The company incurred$8,180,834 in costs related to the Initial Public Offering, which included $1,840,000 in upfront cash underwriting fees[85]. Cash Flow and Operations - Cash used in operating activities for the nine months ended September 30, 2024, was$675,961, with no cash flows from operating activities reported for the same period in 2023[86]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2024[91]. Business Strategy - The company has 24 months from the Initial Public Offering to complete its initial Business Combination[90]. - The company intends to use funds held outside the Trust Account primarily for identifying and evaluating target businesses and related due diligence[88]. - Up to $1,500,000 of Working Capital Loans may be convertible into private placement shares at a price of$10.00 per share at the lender's option[89].