Fri, Sep 27, 8:16 PM (85 days ago)
HCM II Acquisition Corp. reported its financial results for the quarter ending June 30, 2024, marking its initial operational phase as a blank check company. The company recorded a net loss of $52,663, primarily due to formation and operational costs, with no revenues generated to date. As of June 30, 2024, total assets were $377,355, including $5,000 in current assets and $372,355 in deferred offering costs. Liabilities stood at $405,018, resulting in a shareholder's deficit of $27,663. The company successfully completed its Initial Public Offering (IPO) on August 19, 2024, raising $230,000,000 from the sale of 23,000,000 units, which included a full exercise of the underwriters' over-allotment option. Additionally, it sold 6,850,000 private placement warrants for $6,850,000. The company plans to utilize the proceeds primarily for a future business combination and has placed $231,150,000 into a trust account for this purpose. Despite the recent capital raise, uncertainties remain regarding the ability to identify and execute a successful business combination amid global market volatility stemming from geopolitical tensions.