Breeze Acquisition Corp. II Reports Q1 2026 Financial Results with Net Loss of $138,206

Breeze Acquisition Corp. II, a blank check company incorporated in the Cayman Islands, reported its financial results for the three months ended March 31, 2026, revealing a net loss of $138,206, attributed to operating and formation costs. The company has not yet commenced operations and does not expect to generate revenue until after completing a business combination. As of March 31, 2026, Breeze Acquisition's total assets amounted to $491,200, a significant increase from $217,168 at the end of the previous fiscal period. This growth is primarily due to deferred offering costs, which rose to $454,063 from $177,490.

The company's liabilities also saw a substantial increase, climbing to $730,745 from $318,507, largely driven by a promissory note from a related party, which increased to $427,150 from $162,650. The company's accumulated deficit widened to $264,545 from $126,339, reflecting the ongoing costs associated with its formation and preparation for its Initial Public Offering (IPO). The weighted average shares outstanding during this period were 4,391,892, resulting in a basic and diluted net loss per ordinary share of $(0.03).

Breeze Acquisition Corp. II completed its IPO on May 14, 2026, raising gross proceeds of $125 million from the sale of 12,500,000 units, each consisting of one ordinary share and one right to receive one-fifth of an ordinary share upon consummation of a business combination. Additionally, the company sold 447,500 private placement units for $4,475,000. Following the IPO, the underwriter partially exercised its over-allotment option, resulting in an additional 1,500,000 public units sold for $15 million. The proceeds from these transactions have been placed in a trust account, which will be utilized for the intended business combination.

As of the end of the reporting period, Breeze Acquisition Corp. II had a working capital deficit of $693,608. The company has indicated that it may need to raise additional funds to cover costs associated with identifying a target business and completing a business combination. The management has expressed confidence in utilizing the funds from the IPO and private placements to meet operational needs until a business combination is finalized. However, there is no assurance that the company will successfully complete a business combination within the designated timeframe, which is set to expire on May 14, 2027.

Looking ahead, Breeze Acquisition Corp. II is focused on identifying potential business combination targets and executing its strategy to leverage the capital raised through its IPO. The company has acknowledged the risks associated with its early-stage status and the uncertainties in the current market environment, which may impact its ability to complete a successful business combination. The management is actively working to address internal control weaknesses identified in its financial reporting processes, aiming to enhance operational efficiency and compliance as it moves forward.