Iris Acquisition Corp II Reports $1.26 Million Net Income for Quarter Ending June 30, 2026

Iris Acquisition Corp II has reported its financial results for the quarter ending June 30, 2026, revealing a net income of $1.26 million for the three-month period and $2.04 million for the six months ended June 30, 2026. The company, which is a special purpose acquisition company (SPAC), generated these figures primarily from interest income on cash held in its Trust Account, amounting to $1.52 million and $2.44 million for the respective periods. General and administrative expenses totaled $259,423 for the quarter and $403,535 for the half-year, leading to a loss from operations of $259,423 and $403,535, respectively.

Compared to the previous fiscal period, Iris Acquisition Corp II has shown significant growth in its financial position. As of June 30, 2026, the company reported total assets of $171.76 million, a substantial increase from $139,598 at the end of December 2025. This increase is largely attributed to the successful completion of its Initial Public Offering (IPO) on February 4, 2026, which raised $168.5 million from the sale of 16.85 million units, including a partial exercise of the underwriters' over-allotment option. The company also sold 438,000 Private Placement Units, generating an additional $4.38 million.

Operationally, Iris Acquisition Corp II has not yet commenced any business operations, as it is still in the process of identifying potential acquisition targets. The company has not selected a specific target for its initial business combination, which it intends to pursue using the funds raised from its IPO. As of June 30, 2026, the company had cash of $699,573 available outside the Trust Account, which it plans to use for operational expenses related to identifying and evaluating target businesses.

The company has also reported a total of 17,288,000 Class A ordinary shares and 5,616,667 Class B ordinary shares outstanding as of August 10, 2026. The Class A shares are subject to possible redemption, with a redemption value of $10.14 per share. The company has indicated that it will need to raise additional funds to meet its operating expenditures and complete its business combination. Management has expressed concerns regarding liquidity, stating that if the company fails to complete a business combination within the designated 24-month period following the IPO, it will cease operations and liquidate.

Looking ahead, Iris Acquisition Corp II aims to complete its initial business combination before the end of the 24-month completion window, which expires on February 4, 2028. The company has acknowledged the challenges it faces in securing a suitable target and the potential need for additional financing to support its operations and business combination efforts.