Company: IPODW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074296
Chunk: 31

Company: Dune Acquisition Corp II
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 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.

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 June 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 Trust Account. We incur expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended June 30, 2025, we
had net income of $761,019, which consists of interest income on marketable securities held in the Trust Account of $873,464 offset by
formation and general and administrative costs of $112,445.

For the six months ended June 30, 2025, we had
a net income of $712,925 which consists of interest income on marketable securities held in the Trust Account of $973,464 offset by formation
and general and administrative costs of $160,539.

15

Liquidity and Capital Resources

On May 8, 2025, we consummated the Initial
Public Offering of 14,375,000 Units, which included the full exercise by the underwriters of their over-allotment option in the amount
of 1,875,000 Units, at $10.00 per Unit generating gross proceeds of $143,750,000. Simultaneously with the closing of the Initial Public
Offering, we completed the sale of 2,000,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant in a private
placement to our Dune Acquisition Holdings