Launch Two Acquisition Corp.(LPBBU) - 2024 Q3 - Quarterly Report

Financial Performance - The company reported a net loss of $16,084 for the three months ended September 30, 2024, and a total net loss of$55,144 from inception on May 13, 2024, through September 30, 2024, primarily due to general and administrative costs [108]. - The company has not generated any revenues to date and does not expect to do so until after the completion of its Business Combination [106]. Initial Public Offering - The company completed its Initial Public Offering on October 9, 2024, raising gross proceeds of $230,000,000 from the sale of 23,000,000 Units at$10.00 per Unit, including an over-allotment option [110]. - An additional 7,075,000 Private Placement Warrants were sold at $1.00 per warrant, generating gross proceeds of$7,075,000 [110]. - The underwriters received a cash underwriting discount of $4,000,000, which is 2.0$10,950,000 payable upon the completion of the initial Business Combination [118]. Use of Funds - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital and growth strategies [111]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to its Business Combination, but may require additional financing for completion [114]. Debt and Obligations - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2024, and has a monthly obligation of $12,500 for office space and administrative support [115][116]. Regulatory Environment - The company is subject to new SEC rules for SPACs effective July 1, 2024, which may impact its ability to negotiate and complete its initial Business Combination [105]. Accounting Estimates - The company has no critical accounting estimates to disclose as of September 30, 2024 [119].