IPO and Fundraising - The company generated gross proceeds of $300,000,000 from its IPO at a price of $10.00 per Unit[118]. - An additional $45,000,000 was raised from the full exercise of the underwriters' over-allotment option, selling 4,500,000 Units at $10.00 per Unit[119]. - The company placed $346,725,000 in a trust account from the net proceeds of the IPO and private placement, intended for the initial business combination[121]. - Total transaction costs amounted to $14,634,758, including $5,175,000 in cash underwriting fees and $8,625,000 in deferred underwriting fees[120]. Financial Performance - The company reported a net income of $5,855,202 for the period from February 9, 2024, to December 31, 2024, after offsetting an operating loss of $769,833 with interest income of $6,625,035[115]. - As of December 31, 2024, the company had cash of $417,897 and a working capital of $21,271[116]. - The company has incurred $539,874 in costs paid by the Sponsor on its behalf, with $514,874 due to the related party as of December 31, 2024[131]. Business Operations and Risks - The company has not engaged in any operations or generated revenues to date, with plans to generate non-operating income post-IPO[114]. - There is substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period[116]. - The company expects to incur approximately $300,000 for legal and accounting expenses related to business combinations and $150,000 for regulatory reporting fees[123]. - The company is classified as a smaller reporting company under Rule 12b-2 of the Exchange Act, thus not required to provide detailed market risk disclosures[144].
AA Mission Acquisition Corp.(AAM) - 2024 Q4 - Annual Report