Andretti Acquisition Corp. II has reported its financial performance for the fiscal year ending December 31, 2025, revealing a net income of $8.35 million, a significant increase from the $3.05 million reported for the period from May 21, 2024, through December 31, 2024. This growth is attributed primarily to interest earned on marketable securities held in the Trust Account, which amounted to $9.76 million for 2025, compared to $3.35 million in the previous year. The company has not generated any operating revenues to date, as it remains focused on identifying and consummating a business combination.
The company’s total assets as of December 31, 2025, were approximately $244.42 million, up from $235.51 million in 2024. The increase is largely due to the marketable securities held in the Trust Account, which rose to $244.26 million from $234.50 million. However, the company reported a working capital deficit of $29,006 as of December 31, 2025, compared to a surplus of $855,099 in the previous year. This shift indicates a tightening liquidity position as the company continues to incur costs related to its acquisition plans.
In terms of strategic developments, Andretti Acquisition Corp. II entered into a Business Combination Agreement with StoreDot Ltd. on December 3, 2025. However, this agreement was terminated on February 17, 2026, leading the company to seek alternative acquisition opportunities. The company has until September 9, 2026, to complete its initial business combination, or it will be required to liquidate and redeem public shares at a per-share price of approximately $10.58, based on the amount held in the Trust Account.
Operationally, the company has maintained a lean structure, with only two officers as of the end of 2025. The management team, led by CEO William M. Brown and Executive Chairman William J. Sandbrook, is focused on leveraging their extensive networks to identify potential acquisition targets. The company has also incurred administrative costs of $1.41 million for the year, reflecting its ongoing operational expenses as it prepares for a business combination.
Looking ahead, Andretti Acquisition Corp. II faces significant challenges, including the need to secure a business combination within the stipulated timeframe and the potential for increased competition in the SPAC market. The company has expressed confidence in its management team's ability to identify suitable targets, but it acknowledges the inherent risks associated with early-stage investments and the uncertainties in the current economic environment.
About Andretti Acquisition Corp. II
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