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Launch Two Acquisition Corp. (LPBB-0.04%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial statements for the year, including its cash and marketable securities held in the trust account totaling $233,538,339. The company has not yet generated any operating revenues.
Launch Two Acquisition Corp. completed its Initial Public Offering on October 9, 2024, raising gross proceeds of $230,000,000. Simultaneously, it completed the sale of 7,075,000 Private Placement Warrants, generating additional gross proceeds of $7,075,000.
The company is a blank check company formed for the purpose of effecting a Business Combination with one or more businesses. As of the date of the report, no specific Business Combination target has been selected.
Launch Two Acquisition Corp. has until October 9, 2026, to complete its initial Business Combination. If it fails to do so, it will redeem the public shares and liquidate the trust account.
The company's management team consists of experienced executives, including CEO Jay McEntee and CFO Jurgen van de Vyver, who are focused on identifying and evaluating potential Business Combination targets.
The filing also includes a cautionary note regarding forward-looking statements, highlighting the risks and uncertainties associated with the company's business and operations.
Launch Two Acquisition Corp. has identified several criteria for evaluating potential acquisition targets, including the ability to sustain and grow free cash flow, strong management, and advantages to being a public company.
The company acknowledges its dependence on additional financing to complete a Business Combination if necessary, and it may issue additional securities or incur debt in connection with such a transaction.
Launch Two Acquisition Corp. is subject to various risks, including the possibility of being deemed an investment company under the Investment Company Act, which could impose burdensome compliance requirements and restrict its activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Launch Two Acquisition Corp. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.