Financial Position - The net proceeds from the initial public offering and private placement amounted to 70,207,500 placed in the trust account[137]. - As of June 30, 2023, the company had a working capital deficit of 1,181 in its operating bank account[138]. - The company has no long-term debt or capital lease obligations, only a monthly fee agreement[141]. - The proceeds in the trust account are invested in U.S. government treasury obligations with a maturity of 185 days or less[137]. - The company is evaluating the impact of the COVID-19 pandemic on its financial position, but the specific impact is not determinable at this time[122]. Shareholder Equity - The company is authorized to issue 100,000,000 shares of common stock with a par value of 7,500 to an affiliate of its Sponsor for office space and administrative support, starting from March 1, 2023[141]. Business Combination - The company intends to effectuate its initial business combination using cash from the proceeds of its initial public offering and private placement units[135]. - The company has not identified any subsequent events that would require adjustment or disclosure in the financial statements[132].
Bellevue Life Sciences Acquisition (BLAC) - 2023 Q2 - Quarterly Report