Thu, May 15, 10:15 AM (39 days ago)
**Black Spade Acquisition II Co (BSII) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** No operating revenue generated; income from interest on cash held in Trust Account. - **Profit Margins:** Net income of $10,378, primarily from interest income. - **Cash Flow:** Net cash used in operating activities was $273,426. Cash held in Trust Account increased to $156,875,931. - **Earnings Changes:** No significant changes in earnings per share due to the nature of the business. **Quarterly Performance Discussion:** - **Operational Status:** No operational activities; focus on identifying and negotiating a business combination. - **Cash Management:** Withdrew $117,248 from the Trust Account for working capital purposes. - **Expenses:** General and administrative expenses amounted to $1,647,635. **Trends and Uncertainties:** - **Geopolitical Risks:** Global market volatility due to geopolitical instability. - **Business Combination:** Entered into a Business Combination Agreement with The Generation Essentials Group (TGE). - **Liquidity:** Adequate liquidity to sustain operations until the completion of a business combination. **Future Operations Impact:** - **Business Combination:** Expected to complete the business combination with TGE, subject to shareholder approval. - **Financial Advisors:** Engaged Clear Street LLC and Cohen & Company Capital Markets as financial advisors for the business combination. - **Registration and Filings:** Filed necessary registration statements and proxy statements with the SEC. **Key Financial Metrics:** - **Cash and Cash Equivalents:** $1,960,838 as of March 31, 2025. - **Trust Account:** $156,875,931 held in the Trust Account. - **Working Capital:** $1,960,838 available for working capital purposes. **Conclusion:** Black Spade Acquisition II Co is in the process of completing a business combination with TGE, which is expected to significantly impact its future operations and financial performance. The company remains focused on managing its liquidity and expenses while navigating geopolitical uncertainties.