Launch One Acquisition Corp. Files Q2 2024 10-Q

TL;DR

Launch One Acquisition Corp. (LOAC) filed its Q2 10-Q. No major business updates yet.

AI Summary

Launch One Acquisition Corp. filed its quarterly report on Form 10-Q for the period ended June 30, 2024. The company, incorporated in the Cayman Islands, is a blank check company operating in the Real Estate & Construction sector. Its principal executive offices are located at 180 Grand Avenue, Suite 1530, Oakland, CA.

Why It Matters

This filing provides investors with an update on the financial performance and operational status of Launch One Acquisition Corp. during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing for a SPAC with no immediately apparent significant financial events or disclosures.

Key Numbers

• 001-42173 — Commission file number (Identifies the company's SEC filing history.)
• 20240630 — Fiscal Period End (Indicates the end date of the reporting quarter.)

Key Players & Entities

• Launch One Acquisition Corp. (company) — Registrant
• June 30, 2024 (date) — Quarter end date
• Cayman Islands (location) — Jurisdiction of incorporation
• 180 Grand Avenue, Suite 1530, Oakland, CA 94612 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — LLC Class A ordinary shares, par value $0.0001 per share LPAA The Nasdaq Stock Market
• $11.50 — ordinary share at an exercise price of $11.50 per share LPAAW The Nasdaq Stock Market

Filing Documents

• ea0211742-10q_launch.htm (10-Q) — 292KB
• ea021174201ex31-1_launch.htm (EX-31.1) — 12KB
• ea021174201ex31-2_launch.htm (EX-31.2) — 12KB
• ea021174201ex32-1_launch.htm (EX-32.1) — 5KB
• ea021174201ex32-2_launch.htm (EX-32.2) — 5KB
• 0001213900-24-071200.txt ( ) — 2495KB
• lpaau-20240630.xsd (EX-101.SCH) — 32KB
• lpaau-20240630_cal.xml (EX-101.CAL) — 10KB
• lpaau-20240630_def.xml (EX-101.DEF) — 162KB
• lpaau-20240630_lab.xml (EX-101.LAB) — 220KB
• lpaau-20240630_pre.xml (EX-101.PRE) — 152KB
• ea0211742-10q_launch_htm.xml (XML) — 169KB

Financial Information

Part I. Financial Information Item 1. Interim Financial Statements Condensed Balance Sheet as of June 30, 2024 (Unaudited) 1 Condensed Statements of Operations for the Three Months Ended June 30, 2024 and for the Period from February 21, 2024 (Inception) Through June 30, 2024 (Unaudited) 2 Condensed Statements of Changes in Shareholders' Equity (Deficit) for the Three Months Ended June 30, 2024 and for the Period from February 21, 2024 (Inception) Through June 30, 2024 (Unaudited) 3 Condensed Statement of Cash Flows for the Period from February 21, 2024 (Inception) Through June 30, 2024 (Unaudited) 4 Notes to Condensed Financial Statements (Unaudited) 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 17

Controls and Procedures

Item 4. Controls and Procedures 17

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 18

Risk Factors

Item 1A. Risk Factors 18

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 18

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 18

Other Information

Item 5. Other Information 18

Exhibits

Item 6. Exhibits 19

Signatures

Part III. Signatures 20 i

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements. LAUNCH ONE ACQUISITION CORP. CONDENSED BALANCE SHEET JUNE 30, 2024 (UNAUDITED) Assets Current assets Prepaid expenses $ 1,404 Total current assets 1,404 Deferred offering costs 237,533 Total Assets $ 238,937 Liabilities and Shareholders' Deficit Current Liabilities Accrued offering costs $ 5,832 Accrued expenses 30,295 Promissory note - related party 218,198 Total Current Liabilities 254,325 Commitments and Contingencies (Note 6) Shareholders' Deficit Preference shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued or outstanding — Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized; none issued or outstanding — Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 5,750,000 shares issued and outstanding (1) 575 Additional paid-in capital 24,425 Accumulated deficit ( 40,388 ) Total Shareholders' Deficit ( 15,388 ) Total Liabilities and Shareholders' Deficit $ 238,937 (1) Includes an aggregate of up to 750,000 Class B ordinary shares (Note 5). On July 15, 2024, the Company consummated its Initial Public Offering and sold 23,000,000 Units, including 3,000,000 Units sold pursuant to the full exercise of the underwriters' option to purchase additional units to cover the over-allotment, hence the 750,000 shares of Class B ordinary shares were no longer subject to forfeiture. The accompanying notes are an integral part of the unaudited condensed financial statements. 1 LAUNCH ONE ACQUISITION CORP. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended June 30, For the Period from February 21, 2024 (Inception) Through June 30, 2024 2024 General and administrative costs $ 22,202 $ 40,388 Loss from operations ( 22,202 ) ( 40,388

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View this 10-Q filing on SEC EDGAR