Launch Two Acquisition Corp. Files Q2 2025 10-Q

TL;DR

Launch Two Acquisition Corp. filed its Q2 10-Q. Blank check company focused on real estate/construction.

AI Summary

Launch Two Acquisition Corp. filed its quarterly report on Form 10-Q for the period ended June 30, 2025. The company, incorporated in the Cayman Islands, is a blank check company focused on real estate and construction. 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 Two Acquisition Corp. during the second quarter of 2025.

Risk Assessment

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

Key Numbers

• 001-42306 — Commission File Number (Identifies the company's filing with the SEC.)
• June 30, 2025 — Quarterly Period End (Marks the end of the reporting period for this 10-Q.)

Key Players & Entities

• Launch Two Acquisition Corp. (company) — Registrant
• June 30, 2025 (date) — Quarterly period end date
• Cayman Islands (location) — Jurisdiction of incorporation
• 001-42306 (other) — Commission File Number
• 180 Grand Avenue Suite 1530, Oakland, CA 94612 (location) — Principal executive offices address

FAQ

Key Financial Figures

• $0.0001 — LC Class A Ordinary Shares, par value $0.0001 per share LPBB The Nasdaq Stock Market
• $11.50 — Ordinary Share at an exercise price of $11.50 per share LPBBW The Nasdaq Stock Market
• $10,950,000 — erred Fee" are to the additional fee of $10,950,000 to which the underwriters to the Initia
• $300,000 — y note in the principal amount of up to $300,000 issued to our Sponsor on May 13, 2024;
• $231,150,000 — sed trust account in which an amount of $231,150,000 from the net proceeds of the sale of th

Filing Documents

• ea0252788-10q_launch2.htm (10-Q) — 510KB
• ea025278801ex31-1_launch2.htm (EX-31.1) — 11KB
• ea025278801ex31-2_launch2.htm (EX-31.2) — 11KB
• ea025278801ex32-1_launch2.htm (EX-32.1) — 5KB
• ea025278801ex32-2_launch2.htm (EX-32.2) — 5KB
• 0001213900-25-076628.txt ( ) — 3598KB
• lpbbu-20250630.xsd (EX-101.SCH) — 40KB
• lpbbu-20250630_cal.xml (EX-101.CAL) — 15KB
• lpbbu-20250630_def.xml (EX-101.DEF) — 192KB
• lpbbu-20250630_lab.xml (EX-101.LAB) — 303KB
• lpbbu-20250630_pre.xml (EX-101.PRE) — 195KB
• ea0252788-10q_launch2_htm.xml (XML) — 329KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements. 1 Condensed Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 1 Condensed Statements of Operations for the (i) Three and Six Months Ended June 30, 2025 and (ii) Period from May 30, 2024 (Inception) Through June 30, 2024 (Unaudited) 2 Condensed Statements of Changes in Shareholders' Deficit for the (i) Three and Six Months Ended June 30, 2025 and (ii) Period from May 30, 2024 (Inception) Through June 30, 2024 (Unaudited) 3 Condensed Statements of Cash Flows for the (i) Six Months Ended June 30, 2025 and (ii) Period from May 30, 2024 (Inception) Through June 30, 2024 (Unaudited) 4 Notes to Condensed Financial Statements (Unaudited) 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 22 Item 4.

Controls and Procedures

Controls and Procedures. 22

– OTHER INFORMATION

PART II – OTHER INFORMATION 23 Item 1. Legal Proceedings. 23 Item 1A. Risk Factors. 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 23 Item 3. Defaults Upon Senior Securities. 23 Item 4. Mine Safety Disclosures. 23 Item 5. Other Information. 24 Item 6. Exhibits. 24

SIGNATURES

SIGNATURES 25 i Unless otherwise stated in this Report (as defined below), or the context otherwise requires, references to: "2024 Annual Report" are to our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as filed with the SEC (as defined below) on March 25, 2025; "Administrative Services Agreement" are to the Administrative Services Agreement, dated October 7, 2024, which we entered into with an affiliate of our Sponsor (as defined below); "Amended and Restated Articles" are to our Amended and Restated Memorandum and Articles of Association, as currently in effect ; "ASC" are to the FASB (as defined below) Accounting Standards Codification; "ASU" are to the FASB Accounting Standards Update; "ASU 2024-03" are to the FASB ASU Topic 2024-03, "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses"; "Board of Directors" or "Board" are to our board of directors; "Business Combination" are to a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses; "Cantor" are to Cantor Fitzgerald & Co., the representative of the several underwriters in the Initial Public Offering (as defined below); "Certifying Officers" are to our Chief Executive Officer and Chief Financial Officer, together; "Class A Ordinary Shares" are to our Class A ordinary shares, par value $0.0001 per share; "Class B Ordinary Shares" are to our Class B ordinary shares, par value $0.0001 per share; "Combination Period" are to (i) the 24-month period, from the closing of the Initial Public Offering to October 9, 2026 (or such earlier time as determined by our Board), that we have to consummate an initial Business Combination, or (ii) such other period in which we must consummate an initial Business Combination pursuant to an amendment to our Amended and Restated Charter and consistent

– FINANCIAL

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. LAUNCH TWO ACQUISITION CORP. CONDENSED BALANCE SHEETS June 30, 2025 December 31, (Unaudited) 2024 ASSETS Current assets Cash $ 619,287 $ 935,701 Prepaid expenses 166,892 195,909 Total Current assets 786,179 1,131,610 Long-term prepaid insurance 23,750 71,250 Cash and marketable securities held in Trust Account 238,504,166 233,538,339 TOTAL ASSETS $ 239,314,095 $ 234,741,199 LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities Accrued expenses $ 6,167 $ 16,136 Accrued offering costs 75,000 75,000 Total Current liabilities 81,167 91,136 Deferred underwriting fee payable 10,950,000 10,950,000 TOTAL LIABILITIES 11,031,167 11,041,136 COMMITMENTS AND CONTINGENCIES (Note 6) Class A Ordinary Shares subject to possible redemption, 23,000,000 shares at redemption value of $ 10.37 and $ 10.15 per share at June 30, 2025 and December 31, 2024, respectively 238,504,166 233,538,339 SHAREHOLDERS' DEFICIT Preferred shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued and outstanding at June 30, 2025 and December 31, 2024 — — Class A Ordinary Shares, $ 0.0001 par value; 500,000,000 shares authorized; none issued and outstanding at June 30, 2025 and December 31, 2024 (excluding 23,000,000 shares subject to possible redemption), respectively — Class B Ordinary Shares, $ 0.0001 par value; 50,000,000 shares authorized; 5,750,000 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 575 575 Additional paid-in capital — — Accumulated deficit ( 10,221,813 ) ( 9,838,851 ) TOTAL SHAREHOLDERS' DEFICIT ( 10,221,238 ) ( 9,838,276 ) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 239,314,095 $ 234,741,199 The accompanying notes are an integral part of the unaudited condensed financial statements. 1 LAUNCH TWO ACQUISITION CORP. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the Three Months Ended June 30, 2025

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