Thayer Ventures Acquisition Corp II, a blank check company formed to effectuate a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination, has released its Form 10-Q report for the third quarter of 2025. The report provides a detailed overview of the company's financial performance and operational activities as it continues to identify a target for a business combination.
Financial Highlights
- Net Income: $1.97 million for the three months ended September 30, 2025, driven by earnings from investments held in the Trust Account of $2.13 million, offset by general and administrative costs of $158,128.
- Net Income: $2.30 million for the nine months ended September 30, 2025, consisting of earnings from investments held in the Trust Account of $3.13 million, offset by general and administrative costs of $647,828 and share-based compensation expense of $181,250.
- Basic Net Income Per Redeemable Class A Ordinary Share: $0.07 for the three months ended September 30, 2025.
- Diluted Net Income Per Redeemable Class A Ordinary Share: $0.06 for the three months ended September 30, 2025.
- Basic Net Income Per Redeemable Class A Ordinary Share: $0.14 for the nine months ended September 30, 2025.
- Diluted Net Income Per Redeemable Class A Ordinary Share: $0.14 for the nine months ended September 30, 2025.
- Basic Net Income (Loss) Per Non-redeemable Class A and Class B Ordinary Share: $0.07 for the three months ended September 30, 2025.
- Diluted Net Income (Loss) Per Non-redeemable Class A and Class B Ordinary Share: $0.06 for the three months ended September 30, 2025.
- Basic Net Income (Loss) Per Non-redeemable Class A and Class B Ordinary Share: $0.14 for the nine months ended September 30, 2025.
- Diluted Net Income (Loss) Per Non-redeemable Class A and Class B Ordinary Share: $0.14 for the nine months ended September 30, 2025.
Business Highlights
- Business Overview: Thayer Ventures Acquisition Corporation II is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company is currently in the process of identifying a target for a Business Combination.
- Operational Activities: Since its inception on April 23, 2024, the company has not engaged in any operations or generated any operating revenues. Its activities have been focused on organizational tasks, preparing for the Initial Public Offering, and identifying a target company for a Business Combination.
- Trust Account Earnings: The company generates non-operating income from investments held in the Trust Account, which amounted to $2,128,162 for the three months ended September 30, 2025, and $3,126,740 for the nine months ended September 30, 2025.
- General and Administrative Costs: The company incurred general and administrative costs of $158,128 for the three months ended September 30, 2025, and $647,828 for the nine months ended September 30, 2025. These costs are associated with being a public company and due diligence expenses.
- Future Outlook: The company plans to use the funds from the Trust Account to complete a Business Combination. Management is focused on identifying and evaluating target businesses, performing due diligence, and structuring a potential Business Combination. There is an emphasis on the need to raise additional funds if necessary to complete the Business Combination or to redeem a significant number of Public Shares.
- Going Concern Considerations: The company has raised concerns about its ability to continue as a going concern due to the lack of cash available. Management plans to address this through the collection of funds due from the Sponsor and the completion of a Business Combination.
- Management's Strategy: The management team is actively pursuing acquisition plans and is prepared to use cash, shares, debt, or a combination thereof to effectuate a Business Combination. The company is also considering additional financing options if required to complete the Business Combination.
SEC Filing: