Tue, Aug 20, 9:26 PM (147 days ago)
For the quarter ended June 30, 2024, Launch One Acquisition Corp. reported a net loss of $22,202, accumulating to $40,388 since its inception on February 21, 2024. The company, a blank check entity, has not yet engaged in any operations or generated revenue, with all expenses attributed to organizational and administrative costs. As of June 30, 2024, total assets amounted to $238,937, primarily from deferred offering costs, while current liabilities were $254,325, resulting in a shareholders' deficit of $15,388. On July 15, 2024, the company completed its Initial Public Offering (IPO), selling 23 million units at $10 each, raising gross proceeds of $230 million. The total capital raised is intended for future business combinations. Post-IPO, $230 million was placed in a trust account, with $15.6 million incurred in transaction costs. Looking ahead, the company faces uncertainties due to geopolitical tensions affecting global markets, which could impact its ability to identify and complete a business combination. The management's focus remains on leveraging the IPO proceeds to pursue acquisition opportunities while managing operational costs effectively.