Tue, Sep 17, 9:19 PM (94 days ago)
EQV Ventures Acquisition Corp. reported its financial results for the quarter ending June 30, 2024, highlighting a net loss of $46,916 stemming from general and administrative costs. As of June 30, 2024, the company had total assets of $953,647, primarily consisting of cash ($2,759) and deferred offering costs ($928,289). The company’s liabilities totaled $975,165, leading to a shareholders' deficit of $21,518. The company has not yet commenced operations and is currently focused on identifying a target for its initial business combination. The Initial Public Offering (IPO) on August 8, 2024, raised gross proceeds of $350,000,000 from 35,000,000 units sold at $10.00 each, which will be held in a trust account until a business combination is completed. Despite the substantial funds raised, the company faces market uncertainties due to geopolitical tensions, which could impact its acquisition strategy. Management anticipates that the current cash position will support operational needs for at least one year, but future financing may be necessary depending on the costs associated with identifying and negotiating potential business combinations.