Abpro Holdings Files Q3 2024 10-Q Report

TL;DR

Abpro Holdings filed its Q3 2024 10-Q, check financials.

AI Summary

Abpro Holdings, Inc. filed its 10-Q for the quarter ended September 30, 2024, reporting on its financial performance. The company, formerly known as Atlantic Coastal Acquisition Corp. II, is incorporated in Delaware and operates in the biological products sector. Its principal executive offices are located in Woburn, MA.

Why It Matters

This filing provides investors with the latest financial and operational details for Abpro Holdings, Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Abpro Holdings is subject to market fluctuations and regulatory scrutiny, inherent risks for any SEC filer.

Key Players & Entities

• Abpro Holdings, Inc. (company) — Registrant
• Atlantic Coastal Acquisition Corp. II (company) — Former name of Registrant
• September 30, 2024 (date) — End of reporting period
• Delaware (location) — State of incorporation
• Woburn, MA (location) — Principal executive office address

FAQ

Key Financial Figures

• $0.0001 — red Shares of Common Stock, par value $0.0001 per share ABP The Nasdaq Stock Market L
• $11.50 — of Common Stock at an exercise price of $11.50 ABPWW The Nasdaq Stock Market LLC Ind

Filing Documents

• ea0221502-10q_abprohold.htm (10-Q) — 732KB
• ea022150201ex31-1_abprohold.htm (EX-31.1) — 11KB
• ea022150201ex31-2_abprohold.htm (EX-31.2) — 11KB
• ea022150201ex32-1_abprohold.htm (EX-32.1) — 4KB
• ea022150201ex32-2_abprohold.htm (EX-32.2) — 4KB
• 0001213900-24-102370.txt ( ) — 5562KB
• acab-20240930.xsd (EX-101.SCH) — 52KB
• acab-20240930_cal.xml (EX-101.CAL) — 21KB
• acab-20240930_def.xml (EX-101.DEF) — 281KB
• acab-20240930_lab.xml (EX-101.LAB) — 457KB
• acab-20240930_pre.xml (EX-101.PRE) — 273KB
• ea0221502-10q_abprohold_htm.xml (XML) — 548KB

Business

Business Combination On November 12, 2024, ACAB and Abpro completed a series of transactions that resulted in the combination (the "Closing" of the "Business Combination") of ACAB with Abpro Corporation, a Delaware corporation ("Abpro Corporation"), pursuant to the previously announced Business Combination Agreement, dated December 11, 2023, amended by an amendment dated September 4, 2024 (the "BCA"), by and among ACAB, Abpro Merger Sub Corp., a Delaware corporation and a wholly owned subsidiary of ACAB ("Merger Sub"), and Abpro Corporation, following the approval at the special meeting of the shareholders of ACAB held on November 7, 2024 (the "Special Meeting"). On November 12, 2024, pursuant to the BCA, and as described in greater detail in the Company's final prospectus and definitive proxy statement, which was filed with the U.S. Securities and Exchange Commission (the "SEC") on October 18, 2024 (the "Proxy Statement/Prospectus"), Merger Sub merged with and into Abpro Corporation, with Abpro Corporation surviving the merger as a wholly owned subsidiary of ACAB, and ACAB changed its name to Abpro Holdings, Inc. ("New Abpro"). As consideration for the Business Combination, New Abpro issued to or reserved for Abpro Corporation shareholders an aggregate of approximately 50,000,000 shares of New Abpro common stock, par value $ 0.0001 per share (the "Common Stock"), consisting of 39,413,500 shares of Common Stock issued to Abpro Corporation shareholders, and 10,586,500 shares of Common Stock reserved for issuance in connection with certain Abpro Corporation rollover RSUs and stock options (collectively, the "Merger Consideration"). In addition, New Abpro issued an aggregate of 3,367,401 shares of Common Stock to the PIPE investors (as described below), an aggregate of 1,250,000 shares of Common Stock to vendors in connection with the Closing, and Atlantic Coastal Acquisition Management II LLC (the "Sponsor") forfeited and New Abpro cancelled 966,442 shares of Common

View Full Filing

View this 10-Q filing on SEC EDGAR