Launch One Acquisition Corp
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
LPAA$11.02+1.2%Stored close · as of Nov 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Balance Sheet as of September 30, 2024 (Unaudited)
CONDENSED BALANCE SHEET
| Assets | |
|---|---|
| Current assets | |
| Cash | $953,928 |
| Due from Sponsor | 27,340 |
| Short-term prepaid insurance | 103,180 |
| Prepaid expenses | 46,905 |
| Total current assets | 1,131,353 |
| Long-term prepaid insurance | 79,391 |
| Cash and investments held in Trust Account | 232,795,232 |
| Total Assets | $234,005,976 |
| Liabilities and Shareholders’ Deficit | |
| Current liabilities | |
| Accrued expenses | $40,343 |
| Total current liabilities | 40,343 |
| Deferred underwriting fee | 10,950,000 |
| Total Liabilities | $10,990,343 |
| Commitments and Contingencies (Note 6) | |
| Ordinary Shares subject to possible redemption, 23,000,000 shares at redemption value of approximately $10.12 per share | 232,795,232 |
| 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 (excluding 23,000,000 shares subject to possible redemption) | — |
| 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 | (9,780,174) |
| Total Shareholders’ Deficit | (9,779,599) |
| Total Liabilities and Shareholders’ Deficit | $234,005,976 |
CONDENSED STATEMENTS OF OPERATIONS
| For the Three Months Ended September 30, | For the Period from February 21, 2024 (Inception) Through September 30, | |
|---|---|---|
| 2024 | 2024 | |
| General and administrative expenses | $(189,929) | $(230,317) |
| Loss from operations | (189,929) | (230,317) |
| Other income: | ||
| Interest earned on cash and investments held in Trust Account | 2,406,913 | 2,406,913 |
| Unrealized gain on marketable securities held in Trust Account | 388,318 | 388,318 |
| Total other income, net | 2,795,231 | 2,795,231 |
| Net income | $2,605,302 | $2,564,914 |
| Weighted average shares outstanding of Class A redeemable ordinary shares | 19,461,538 | 7,977,477 |
| Basic net income per share, Class A ordinary shares | $0.10 | $0.20 |
| Weighted average shares outstanding, Class B ordinary shares | 5,634,615 | 5,102,477 |
| Basic net income per share, Class B ordinary shares | $0.10 | $0.20 |
| Diluted weighted average shares outstanding, Class A ordinary shares | 19,461,538 | 7,977,477 |
| Diluted net income per share, Class A ordinary shares | $0.10 | $0.19 |
| Diluted weighted average shares outstanding, Class B ordinary shares | 5,750,000 | 5,750,000 |
| Diluted net income per share, Class B ordinary shares | $0.10 | $0.19 |
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2024 AND
FOR THE PERIOD FROM FEBRUARY 21, 2024 (INCEPTION) THROUGH SEPTEMBER 30, 2024
| Class A Ordinary Shares · Class B Ordinary Shares · Additional Paid-in · Accumulated · Total Shareholders’ Equity | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Deficit | (Deficit) | |
| Balance — February 21, 2024 (inception) | — | $— | — | $— | $— | $— | $— |
| Issuance of Class B ordinary shares to Sponsor | — | — | 5,750,000 | 575 | 24,425 | — | 25,000 |
| Net loss | — | — | — | — | — | (18,186) | (18,186) |
| Balance – March 31, 2024 | — | — | 5,750,000 | 575 | 24,425 | (18,186) | 6,814 |
| Net loss | — | — | — | — | — | (22,202) | (22,202) |
| Balance – June 30, 2024 | — | $— | 5,750,000 | $575 | $24,425 | $(40,388) | $(15,388) |
| Accretion for Class A ordinary shares to redemption value | — | — | — | — | (6,759,099) | (12,345,088) | (19,104,187) |
| Sale of Private Placement Warrants | — | — | — | — | 6,000,000 | — | 6,000,000 |
| Fair value of Public Warrants at issuance | — | — | — | — | 805,000 | — | 805,000 |
| Allocated value of transaction costs | — | — | — | — | (70,326) | — | (70,326) |
| Net income | — | — | — | — | — | 2,605,302 | 2,605,302 |
| Balance – September 30, 2024 | — | $— | 5,750,000 | $575 | $— | $(9,780,174) | $(9,779,599) |
CONDENSED STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM FEBRUARY 21, 2024 (INCEPTION) THROUGH SEPTEMBER 30, 2024
| Cash Flows from Operating Activities: | |
|---|---|
| Net income | $2,564,914 |
| Adjustments to reconcile net income to net cash used in operating activities: | |
| Payment of expense through promissory note – related party | 50,034 |
| Interest earned on cash and investments held in Trust Account | (2,406,913) |
| Unrealized gain on investments held in Trust Account | (388,318) |
| Changes in operating assets and liabilities: | |
| Prepaid expenses | (46,203) |
| Short-term prepaid insurance | (103,180) |
| Long-term prepaid insurance | (79,391) |
| Accrued expenses | 40,343 |
| Net cash used in operating activities | (368,714) |
| Cash Flows from Investing Activities: | |
| Investment of cash into Trust Account | $(230,000,000) |
| Net cash used in investing activities | (230,000,000) |
| Cash Flows from Financing Activities: | |
| Proceeds from sale of Units, net of underwriting discounts paid | $226,000,000 |
| Proceeds from sale of Private Placements Warrants | 6,000,000 |
| Due from Sponsor | (27,340) |
| Repayment of promissory note - related party | (307,973) |
| Payment of offering costs | (342,045) |
| Net cash provided by financing activities | 231,322,642 |
| Net Change in Cash | 953,928 |
| Cash – Beginning of period | — |
| Cash – End of period | $953,928 |
| Noncash investing and financing activities: | |
| Deferred underwriting fee payable | $10,950,000 |
| Deferred offering costs paid through promissory note - related party | $257,237 |
| Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares | $25,000 |
| Prepaid services contributed by Sponsor through promissory note – related party | $702 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.