Cartesian Growth Corporation II reported a net income of $3.1 million for the first quarter of 2026, a significant increase from the $559,864 recorded in the same period of 2025. This growth was primarily driven by a change in the fair value of warrant liabilities, which contributed $3.1 million to the income statement, compared to just $77,864 in the prior year. The company’s general and administrative expenses rose to $242,432 from $195,387, reflecting increased operational costs as it continues to seek a target for its initial business combination.
As of March 31, 2026, Cartesian Growth Corp II held total assets of $38.4 million, slightly up from $38.3 million at the end of 2025. The company’s cash reserves decreased to $105,287 from $162,853, while the interest-bearing demand deposit held in the trust account increased to $38.1 million from $37.9 million. The total liabilities decreased to $23.7 million from $26.7 million, largely due to a reduction in warrant liabilities, which fell from $4.5 million to $1.3 million.
The company has not yet completed any business combinations since its inception in October 2021. However, it has extended the deadline for completing a business combination multiple times, with the latest extension allowing until August 5, 2026. This extension was approved by shareholders in November 2025, during which time 4.2 million Class A ordinary shares were redeemed for approximately $51.2 million. Following this redemption, approximately $37.8 million remains in the trust account.
Operationally, Cartesian Growth Corp II has focused on identifying high-growth businesses for potential mergers or acquisitions. The company has not generated any operating revenues to date, relying instead on interest income from its trust account. As of the end of the first quarter, the company had a working capital deficit of $5.6 million, indicating a need for additional financing to support its ongoing operations and potential business combination activities.
Looking ahead, Cartesian Growth Corp II remains committed to pursuing its initial business combination and is actively evaluating potential targets. The company’s management has expressed confidence in its ability to leverage its resources and network to identify suitable opportunities, although it acknowledges the challenges posed by current market conditions and the need for additional capital to facilitate its plans.
About Cartesian Growth Corp II
Cartesian Growth Corporation II is a blank check company focused on identifying and merging with high-growth, transnational businesses across various sectors. It seeks established companies with proven or potential international operations, aiming to create value through strategic acquisitions and operational enhancements. The company leverages extensive private equity experience and a global network to facilitate value-driven business combinations.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.