Company: IPODW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111055
Chunk: 33

Company: Dune Acquisition Corp II
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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”)s, which became effective on July 1, 2024 (“2024
SPAC Rules”). The 2024 SPAC Rules require, among other matters, (i) additional disclosures relating to SPAC sponsors and related
persons; (ii) additional disclosures relating to SPAC Business Combination transactions; (iii) additional disclosures relating to dilution
and to conflicts of interest involving sponsors and their affiliates in connection with proposed Business Combination transactions; (iv)
additional disclosures regarding projections included in SEC filings in connection with proposed Business Combination transactions; and
(v) the requirement that both the SPAC and its target company be co-registrants in connection with registration statements relating to
proposed Business Combination transactions. In addition, the SEC’s adopting release provided guidance describing circumstances in
which a SPAC could become subject to regulation under the Investment Company Act, including its duration, asset composition, business
purpose, and the activities of the SPAC and its management team. The 2024 SPAC Rules may materially affect our ability to negotiate and
complete our Initial Business Combination and may increase the costs and time related thereto.

We may seek to extend the Combination Period consistent
with applicable laws, regulations and stock exchange rules by amending our amended and restated memorandum and articles of association.
Such an amendment would require the approval of our public shareholders, who will be provided the opportunity to redeem all or a portion
of their Public Shares in connection with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account
and our capitalization, and may affect our ability to maintain our listing on Nasdaq. In addition, the Nasdaq rules currently require
SPACs (such as us) to complete our initial Business Combination within 36 months following the effective date of our IPO Registration
Statement. If we do not meet such 36-month requirement, our securities will likely be subject to a suspension of trading and delisting
from Nasdaq.

17

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from September 13, 2024 (inception) through September 30, 2025 were organizational
activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business
Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating
income in the form of interest income on marketable securities held in the