Company: RENEF
Filing Date: 2025-10-08
Form Type: PRE 14A
Source: 0001104659-25-097940
Chunk: 32

Company: Cartesian Growth Corp II
Filing Date: 2025-10-08
Form: PRE 14A
Chunk 32
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 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 are deemed to be an investment company under the Investment
Company Act, our activities would be severely restricted. In addition, we would be subject to burdensome compliance requirements. We
do not believe that our principal activities will subject us to regulation as an investment company under the Investment Company Act.
However, if we are deemed to be an investment company and subject to compliance with and regulation under the Investment Company Act,
we would be subject to additional regulatory burdens and expenses for which we have not allotted funds. As a result, unless we are able
to modify our activities so that we would not be deemed an investment company, we would expect to abandon our efforts to complete an
initial business combination and instead to liquidate. If we are required to liquidate, our shareholders would not be able to realize
the benefits of owning stock in a successor operating business, including the potential appreciation in the value of our stock and warrants
following such a transaction, and our warrants would expire worthless.

To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, pursuant to our instruction, the trustee of the Trust Account liquidated the securities held in the Trust Account and will