Company: RENEF
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001104659-25-100857
Chunk: 31

Company: Cartesian Growth Corp II
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 31
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),
because the review process continues beyond such timeframe or because our initial business combination is ultimately prohibited by CFIUS
or another U.S. government entity, we may be required to liquidate. If we liquidate, our public shareholders may only receive an amount
per share that will be determined by when we liquidate and whether the Extension has been approved, and our warrants will expire worthless.
This will also cause you to lose the investment opportunity in a target company and the chance of realizing future gains on your investment
through any price appreciation in the combined company.

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If we are deemed to be an investment company for purposes of the Investment Company Act of 1940, as amended (the “Investment Company Act”), we would be required to institute burdensome compliance requirements and our activities would be severely restricted and, as a result, we may abandon our efforts to consummate an initial business combination and liquidate.

On March 30, 2022, the SEC
issued proposed rules relating to, among other items, enhancing disclosures in business combination transactions involving SPACs and
private operating companies; amending the financial statement requirements applicable to transactions involving shell companies;
effectively limiting the use of projections in SEC filings in connection with proposed business combination transactions; increasing
the potential liability of certain participants in proposed business combination transactions; and the extent to which SPACs could
become subject to regulation under the Investment Company Act.

On January 24, 2024, the
SEC adopted final rules governing SPACs (the “SPAC Final Rules”), which became effective on July 1, 2024. Among other items,
the SPAC Final Rules provide interpretive guidance describing the extent to which SPACs could become subject to regulations under the
Investment Company Act (the “Guidance”). In particular, the Guidance provides that like any other issuer, a SPAC may meet
the definition of investment company under Section 3(a)(1)(A) or 3(a)(1)(C) of the Investment Company Act or both, depending on the facts
and circumstances. Despite the SPAC Final Rules and the Guidance therein, there remains uncertainty concerning the applicability of the
Investment Company Act to SPACs.

Based on the factors described
in the Guidance provided under the SPAC Final Rules, we do not believe that our principal activities currently subject us to regulation
as an investment company under the Investment Company Act. However, if we