AltEnergy Acquisition Corp. Reports Increased Net Loss and Decreased Total Assets for Q2 2025

AltEnergy Acquisition Corp. reported a net loss of $634,525 for the three months ended June 30, 2025, compared to a loss of $169,187 for the same period in 2024. For the six months ending June 30, 2025, the company recorded a net loss of $1,778,017, an increase from a loss of $1,429,067 in the prior year. The company's total expenses for the second quarter of 2025 were $512,247, down from $985,611 in the same quarter of 2024, primarily due to reduced general and administrative costs. The company’s income from investments held in its Trust Account was $71,486 for the quarter, a decrease from $139,197 in the previous year.

Significant changes in the company’s financial position were noted in its balance sheet. As of June 30, 2025, total assets decreased to $6,261,993 from $8,745,016 at the end of 2024. Current assets also fell to $166,723, down from $200,159. The company’s liabilities increased to $18,140,216, compared to $16,215,258 at the end of the previous fiscal year, largely due to an increase in accounts payable and accrued expenses. The accumulated deficit grew to $18,062,535 as of June 30, 2025, from $16,117,185 at the end of 2024.

In terms of operational developments, AltEnergy has not yet completed any business combinations since its inception. The company continues to seek potential targets for acquisition, with a focus on utilizing the cash held in its Trust Account, which amounted to $6,095,270 as of June 30, 2025. The company has also extended its deadline for completing a business combination to May 1, 2026, following stockholder approval at its April 2025 Special Meeting. This extension allows the company additional time to identify and negotiate with potential acquisition targets.

The company’s stockholder base has seen fluctuations, with 6,016,197 shares of Class A common stock and 250,000 shares of Class B common stock outstanding as of August 7, 2025. The company has faced challenges in maintaining compliance with Nasdaq listing requirements, including a notification of deficiency regarding the number of total holders. Despite these challenges, AltEnergy remains focused on completing a business combination and has indicated that it may need to secure additional financing to meet its obligations if it cannot complete a transaction by the extended deadline.

Looking ahead, AltEnergy Acquisition Corp. acknowledges substantial doubt about its ability to continue as a going concern if it fails to complete a business combination by the new deadline. The company has stated that it may need to arrange for third-party financing to meet cash requirements for any potential business combination. Management continues to evaluate its options and is committed to pursuing a successful merger or acquisition to enhance shareholder value.