Andretti Acquisition Corp. II has reported its financial results for the quarter ending June 30, 2025, revealing a net income of $2.29 million, a significant increase compared to a net loss of $43,692 during the same period last year. The company generated $2.47 million in interest income from marketable securities held in its Trust Account, which contributed to its profitability. For the first half of 2025, the net income totaled $4.55 million, reflecting a strong performance in interest earnings, which amounted to $4.93 million, offset by general and administrative costs of $372,815.
The company’s total assets as of June 30, 2025, were reported at $240.07 million, up from $235.51 million at the end of 2024. This increase was primarily driven by the growth in marketable securities held in the Trust Account, which rose to $239.43 million from $234.50 million. However, the company’s cash reserves decreased to $459,437 from $798,454, indicating a shift in liquidity management as it prepares for future business combinations.
Operationally, Andretti Acquisition Corp. II remains in the early stages of its business strategy, having not yet identified a specific target for its planned business combination. The company continues to incur costs associated with its public company status and the pursuit of acquisition opportunities. As of June 30, 2025, the company had 23.76 million Class A ordinary shares and 5.75 million Class B ordinary shares outstanding, with a total shareholders' deficit of $9.22 million, reflecting the accretion of redeemable shares.
Looking ahead, the company has expressed the need to raise additional capital to support its operations and potential business combinations. Management has indicated that it may seek loans or investments from its sponsor or other parties to meet working capital needs. The company’s ability to continue as a going concern is contingent upon successfully completing a business combination within the designated timeframe, which is subject to various market conditions and operational challenges. The management remains optimistic about identifying suitable acquisition targets and completing a business combination before the end of the combination period.
About Andretti Acquisition Corp. II
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