Newbury Street II Acquisition Corp Files Q3 2024 10-Q

TL;DR

SPAC Newbury Street II Acquisition Corp filed its Q3 10-Q. No major business updates yet.

AI Summary

Newbury Street II Acquisition Corp filed its quarterly report for the period ending September 30, 2024. The company, incorporated in the Cayman Islands, is a blank check company. Its principal executive offices are located at 121 High Street, Boston, MA.

Why It Matters

This filing provides an update on the financial status and operations of Newbury Street II Acquisition Corp, a special purpose acquisition company (SPAC).

Risk Assessment

Risk Level: low — This is a standard quarterly filing for a SPAC with no immediate significant financial events or disclosures of new risks.

Key Numbers

• 001-42391 — SEC File Number (Identifies the company's filings with the SEC.)
• September 30, 2024 — Quarter End Date (The reporting period for this 10-Q filing.)

Key Players & Entities

• Newbury Street II Acquisition Corp (company) — Registrant
• September 30, 2024 (date) — Quarter end date
• 001-42391 (company) — SEC File Number
• 121 High Street, Boston, MA (company) — Principal executive offices

FAQ

Key Financial Figures

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

Filing Documents

• ea0224456-10q_newbury2.htm (10-Q) — 337KB
• ea022445601ex31-1_newbury2.htm (EX-31.1) — 12KB
• ea022445601ex31-2_newbury2.htm (EX-31.2) — 12KB
• ea022445601ex32-1_newbury2.htm (EX-32.1) — 5KB
• ea022445601ex32-2_newbury2.htm (EX-32.2) — 5KB
• 0001213900-24-109380.txt ( ) — 2582KB
• ntwou-20240930.xsd (EX-101.SCH) — 31KB
• ntwou-20240930_cal.xml (EX-101.CAL) — 10KB
• ntwou-20240930_def.xml (EX-101.DEF) — 165KB
• ntwou-20240930_lab.xml (EX-101.LAB) — 228KB
• ntwou-20240930_pre.xml (EX-101.PRE) — 157KB
• ea0224456-10q_newbury2_htm.xml (XML) — 168KB

Financial Information

Part I. Financial Information Item 1. Interim Financial Statements Condensed Balance Sheet as of September 30, 2024 (Unaudited) 1 Condensed Statements of Operations for the Three Months Ended September 30, 2024 and for the Period from June 18, 2024 (Inception) Through September 30, 2024 (Unaudited) 2 Condensed Statements of Changes in Shareholder's Deficit for the Three Months Ended September 30, 2024 and for the Period from June 18, 2024 (Inception) Through September 30, 2024 (Unaudited) 3 Condensed Statement of Cash Flows for the Period from June 18, 2024 (Inception) Through September 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

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. NEWBURY STREET II ACQUISITION CORP CONDENSED BALANCE SHEET SEPTEMBER 30, 2024 (UNAUDITED) Assets Non-current asset - deferred offering costs $ 222,777 Total Assets $ 222,777 Liabilities and Shareholder's Deficit Current Liabilities Accrued expenses $ 5,800 Accrued offering costs 19,873 Promissory note - related party 213,706 Total Liabilities 239,379 Commitments and Contingencies (Note 6) Shareholder's 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; 6,118,000 shares issued and outstanding (1) 612 Additional paid-in capital 24,388 Accumulated deficit ( 41,602 ) Total Shareholder's Deficit ( 16,602 ) Total Liabilities and Shareholder's Deficit $ 222,777 (1) Includes an aggregate of up to 798,000 Founder Shares subject to forfeiture by the holders thereof depending on the extent to which the underwriters' over-allotment option is exercised. On November 4, 2024, the underwriters exercised their over-allotment option in full as part of the closing of the Initial Public Offering. As such, 798,000 Founder Shares are no longer subject to forfeiture. The accompanying notes are an integral part of the unaudited condensed financial statements. 1 NEWBURY STREET II ACQUISITION CORP CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended September 30, For the Period from June 18, 2024 (Inception) Through September 30, 2024 2024 Operating and formation costs $ 25,780 $ 41,602 Loss from operations ( 25,780 ) ( 41,602 ) Net loss $ ( 25,780 ) $ ( 41,602 ) Weighted average shares outstanding, Class B ordinary shares (1) 5,320,000 5,320,000 Basic and diluted net loss per share, Class B ordinary shares $ ( 0.00 ) $ (

View Full Filing

View this 10-Q filing on SEC EDGAR