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Andretti Acquisition Corp. II (POLE-0.10%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as a blank check company, incorporated on May 21, 2024, with the purpose of effecting a Business Combination with one or more businesses.
As of the filing date, Andretti Acquisition Corp. II has not selected a specific Business Combination target and has not engaged in any substantive discussions with potential targets.
The company completed its Initial Public Offering on September 9, 2024, raising gross proceeds of $230 million through the sale of 23,000,000 units at $10.00 per unit, which included the full exercise of the over-allotment option.
Simultaneously, the company completed a private placement of 760,000 units at $10.00 per unit, generating additional gross proceeds of $7.6 million.
The proceeds from the Initial Public Offering and private placement were placed in a trust account, totaling $231,150,000, to be used for the Business Combination.
The company has until September 9, 2026, to complete its initial Business Combination, failing which it will redeem the Public Shares and dissolve.
As of December 31, 2024, Andretti Acquisition Corp. II reported cash of $798,454 and marketable securities held in the trust account of $234,500,051.
The company incurred a net income of $3,046,826 for the period from May 21, 2024, to December 31, 2024, primarily due to interest earned on marketable securities held in the trust account.
Andretti Acquisition Corp. II's management team and board of directors include experienced executives and advisors from various industries, including motorsports and finance, who are focused on identifying and consummating a suitable Business Combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Andretti Acquisition Corp. II annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.