Andretti Acquisition Corp. II Files Q3 2024 10-Q

Ticker: POLEW · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 2025341

Sentiment: neutral

Topics: 10-Q, SPAC, quarterly-report

TL;DR

**ANDR II files Q3 10-Q. Blank check co. based in Indy.**

AI Summary

Andretti Acquisition Corp. II filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, incorporated in the Cayman Islands, is a blank check company. Its principal executive offices are located at 7615 Zionsville Road, Indianapolis, Indiana.

Why It Matters

This filing provides an update on the financial status and operations of Andretti Acquisition Corp. II for the third quarter of 2024, which is crucial for investors tracking the company's progress towards a potential business combination.

Risk Assessment

Risk Level: low — This is a routine quarterly filing for a special purpose acquisition company (SPAC) and does not contain significant new risk factors.

Key Players & Entities

FAQ

What is the primary business of Andretti Acquisition Corp. II?

Andretti Acquisition Corp. II is a blank check company, as indicated by its SIC code [6770].

For what period is this 10-Q report filed?

This report is for the quarter ended September 30, 2024.

Where are the principal executive offices of Andretti Acquisition Corp. II located?

The principal executive offices are located at 7615 Zionsville Road, Indianapolis, Indiana, 46268.

In which jurisdiction was Andretti Acquisition Corp. II incorporated?

Andretti Acquisition Corp. II was incorporated in the Cayman Islands.

What is the SEC file number for Andretti Acquisition Corp. II?

The Commission file number is 001-42268.

Filing Stats: 4,597 words · 18 min read · ~15 pages · Grade level 18.8 · Accepted 2024-11-07 17:00:19

Key Financial Figures

Filing Documents

Financial Information

Part I. Financial Information

Interim Financial Statements

Item 1. Interim Financial Statements 1 Unaudited Condensed Balance Sheet as of September 30, 2024 1 Unaudited Condensed Statements of Operations for the Three Months Ended September 30, 2024 and for the Period from May 21, 2024 (Inception) Through September 30, 2024 2 Unaudited Condensed Statements of Changes in Shareholders' Deficit for the Three Months Ended September 30, 2024 and for the Period from May 21, 2024 (Inception) Through September 30, 2024 3 Unaudited Condensed Statement of Cash Flows for the Period from May 21, 2024 (Inception) Through September 30, 2024 4 Notes to Unaudited Condensed Financial Statements 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 17

Quantitative and Qualitative Disclosures Regarding Market Risk

Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 20

Controls and Procedures

Item 4. Controls and Procedures 20

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 21

Risk Factors

Item 1A. Risk Factors 21

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 21

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 21

Other Information

Item 5. Other Information 21

Exhibits

Item 6. Exhibits 22

Signature

Part III. Signature 23 i

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements. ANDRETTI ACQUISITION CORP. II CONDENSED BALANCE SHEET SEPTEMBER 30, 2024 (UNAUDITED) Assets Current assets Cash $ 876,169 Prepaid expenses 207,036 Total current assets 1,083,205 Long-term prepaid insurance 105,521 Marketable securities held in Trust Account 231,814,125 Total Assets $ 233,002,851 Liabilities and Shareholders' Deficit Current liabilities Accrued expenses $ 78,083 Accrued offering costs 1,998 Total current liabilities 80,081 Deferred underwriting fee 9,775,000 Total Liabilities 9,855,081 Commitments and Contingencies (Note 6) Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $ 10.08 per share 231,814,125 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; 760,000 shares issued and outstanding (excluding 23,000,000 shares subject to possible redemption) 76 Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 5,750,000 shares issued and outstanding 575 Additional paid-in capital — Accumulated deficit ( 8,667,006 ) Total Shareholders' Deficit ( 8,666,355 ) Total Liabilities and Shareholders' Deficit $ 233,002,851 The accompanying notes are an integral part of the unaudited condensed financial statements. 1 ANDRETTI ACQUISITION CORP. II CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended September 30, For the Period from May 21, 2024 (Inception) Through September 30, 2024 2024 Formation and general costs $ 82,759 $ 126,451 Loss from operations ( 82,759 ) ( 126,451 ) Other income: Interest earned on marketable securities held in Trust Account 664,125 664,125 Total other income, net 664,125 664,125 Net income $ 581,366 $ 537,674 Weighted average shares outstanding, Class A

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