----

**FORM      10-Q**

| ý | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

|  ̈ | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

| Delaware                                                                      | 20-8356960                                          |
|-------------------------------------------------------------------------------|-----------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (I.R.S.                Employer Identification No.) |

| c/o                Terrapin Partners LLC, 540 Madison Avenue, 17th Floor, New York,                New York                10022 |
|----------------------------------------------------------------------------------------------------------------------------------|
| (Address                of principal executive offices)                                                                          |

----

**Aldabra      2 Acquisition Corp.**

**(a      development stage company)**

----

**Part            I—FINANCIAL            INFORMATION**

**Item            1.  Financial Statements            (Unaudited)**

**Aldabra            2 Acquisition Corp.**

**(a            development stage company)**

**Condensed            Consolidated Balance Sheet**

**(unaudited**

|                                                                                                                                                                  |   |                              |        |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-------------|
|                                                                                                                                                                  |   | September                30, 2007 |        |
| **ASSETS **                                                                                                                                                      |   |                              |        |
| Current                assets:                                                                                                                                        |   |                              |        |
| Cash                                                                                                                                                                  |   | $                                 | 82,548      |   |
| Cash                held in                trust                                                                                                                      |   |                              | 404,531,190 |   |
| Prepaid                expenses                                                                                                                                       |   |                              | 52,875      |   |
| Total                current assets                                                                                                                                   |   |                              | 404,666,613 |   |
| Capitalized                acquisition                costs                                                                                                           |   |                              | 1,346,231   |   |
| Deferred                tax                asset                                                                                                                      |   |                              | 37,529      |   |
|                                                                                                                                                                  |   |                              |        |   |
| **Total                assets**                                                                                                                                       |   | $                                 | 406,050,373 |   |
|                                                                                                                                                                  |   |                              |        |   |
| **LIABILITIES                AND STOCKHOLDERS’ EQUITY**                                                                                                         |   |                              |        |   |
| Current                liabilities:                                                                                                                                   |   |                              |        |   |
| Accrued                expenses                                                                                                                                       |   | $                                 | 666,077     |   |
| Franchise                tax                payable                                                                                                                   |   |                              | 42,869      |   |
| Income                and capital taxes                payable                                                                                                        |   |                              | 2,457,551   |   |
| Deferred                underwriting                fee                                                                                                               |   |                              | 12,420,000  |   |
| **Total                current liabilities**                                                                                                                          |   |                              | 15,586,497  |   |
|                                                                                                                                                                  |   |                              |        |   |
| Common                stock subject to possible conversion                                                                                                            |   |                              |        |   |
| (16,555,860                shares at conversion value)                                                                                                                |   |                              | 159,760,000 |   |
|                                                                                                                                                                  |   |                              |        |   |
| Commitments                                                                                                                                                           |   |                              |        |   |
|                                                                                                                                                                  |   |                              |        |   |
| Stockholders’                equity                                                                                                                             |   |                              |        |   |
| Preferred                stock, $.0001 par                value per share:                                                                                            |   |                              |        |   |
| 1,000,000                shares authorized;                none issued                                                                                                |   |                              | --          |   |
| Common                stock, $.0001 par value                per share:                                                                                               |   |                              |        |   |
| 100,000,000                shares                authorized;                                                                                                          |   |                              |        |   |
| 51,750,000                shares issued and                outstanding(which                includes 16,555,860                shares subject to possible conversion) |   |                              | 5,175       |   |
| Additional                paid-in                capital                                                                                                              |   |                              | 227,639,650 |   |
| Income                accumulated during                development stage                                                                                             |   |                              | 3,059,051   |   |
| **Total                stockholders’ equity**                                                                                                                   |   |                              | 230,703,876 |   |
|                                                                                                                                                                  |   |                              |        |   |
| **Total                liabilities and stockholders’ equity**                                                                                                   |   | $                                 | 406,050,373 |   |

----

**Aldabra            2 Acquisition Corp.**

**(a            development stage company)**

**Condensed            Consolidated Statements of Income**

**(unaudited)**

|                                                                  |   |   | For                the three months ended September 30, 2007                                                               |   |   |   | For                the period February 1, 2007 (inception) to                September 30, 2007  |   |
|-----------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|------------------------------------------------------------------------------------------------------------|--------|
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Interest                income                                        |   |   | $                    5,258,765                                                                              |   |   |   | $                   5,769,309                                                                    |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| **EXPENSES**                                                          |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Formation                costs                                        |   |   | --                                                                                                                              |   |   |   | 1,000                                                                                                      |   |
| Professional                fees                                      |   |   | 36,341                                                                                                                          |   |   |   | 48,341                                                                                                     |   |
| Insurance                expense                                      |   |   | 20,073                                                                                                                          |   |   |   | 22,691                                                                                                     |   |
| Administrative                fees                                    |   |   | 22,500                                                                                                                          |   |   |   | 25,500                                                                                                     |   |
| Travel                and entertainment expense                       |   |   | 9,303                                                                                                                           |   |   |   | 9,303                                                                                                      |   |
| Franchise                tax expense                                  |   |   | 42,869                                                                                                                          |   |   |   | 42,869                                                                                                     |   |
| Interest                expense                                       |   |   | 2,895                                                                                                                           |   |   |   | 2,895                                                                                                      |   |
| Miscellaneous                expenses                                 |   |   | 2,252                                                                                                                           |   |   |   | 2,637                                                                                                      |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Total                expenses                                         |   |   | 136,233                                                                                                                         |   |   |   | 155,236                                                                                                    |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Net                income before income taxes                         |   |   | 5,122,532                                                                                                                       |   |   |   | 5,614,073                                                                                                  |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Provision                for income taxes                             |   |   | (2,331,282                                                                                                                      | )      |   |   | (2,555,022                                                                                                 | )      |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Net                income                                             |   |   | $                    2,791,250                                                                              |   |   |   |                   $    3,059,051                                                  |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Weighted                average shares outstanding, basic and diluted |   |   | 51,750,000                                                                                                                      |   |   |   | 27,628,512                                                                                                 |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |
| Basic                and diluted net income per share                 |   |   |                   $                             0.05 |   |   |   | $                                           0.11    |   |
|                                                                  |   |   |                                                                                                                            |   |   |   |                                                                                                       |   |

----

**Aldabra              2 Acquisition Corp.**

**(a              development stage company)**

**Condensed              Consolidated Statements of Stockholders’              Equity**

**(unaudited)**

|                                                                           |   |  Common                Stock    |       |   |  Additionalpaid-in                capital |   |                                         | Net                income accumulatedduringdevelopmentstage |   |   | Totalstockholders’equity                              |   |
|--------------------------------------------------------------------------------|--------|-----------------------------------------------------|------------|--------|------------------------------------------------|--------|----------------------------------------------|-------------------------------------------------------------|--------|--------|-------------------------------------------------------------|--------|
|                                                                           |   |  Shares                                        |       |   |  Amount                                   |   |                                         |                                                        |   |   |                                                        |   |   |   |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |
| Issuance                    of common stock to Initial Stockholders on         |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |
| February                  1, 2007 at $.002 per share                           |   |                                                | 10,350,000 |   |                                           |   | $                   1,035     |                                                        |   |   | $                      23,965 |   |   |   | $           -- |   |   |   | $                        25,000 |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| Proceeds                  from issuance of Warrants                            |   |                                                | --         |   |                                           |   | --                                           |                                                        |   |   | 3,000,000                                                   |   |   |   | -- |   |   |   | 3,000,000 |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| Sale                  of 41,400,000 Units through Offering, net of             |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| underwriters’                discount and Offering expenses (which  |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| includes                16,555,860 shares subject to conversion)          |   |                                                | 41,400,000 |   |                                           |   | 4,140                                        |                                                        |   |   | 384,375,685                                                 |   |   |   | -- |   |   |   | 384,379,825 |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| Less              16,555,860 shares of common stock                       |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| subject              to possible conversion                                    |   |                                                | --         |   |                                           |   | --                                           |                                                        |   |   | (159,760,000)                                               |   |   |   | -- |   |   |   | (159,760,000) |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| Net              income                                                   |   |                                                | --         |   |                                           |   | --                                           |                                                        |   |   |                                                        |   |   |   | 3,059,051 |   |   |   | 3,059,051 |   |
|                                                                           |   |                                                |       |   |                                           |   |                                         |                                                        |   |   |                                                        |   |   |   |   |   |   |   |   |   |
| Balance              as of September 30, 2007                                  |   |                                                | 51,750,000 |   |                                           |   | $                  5,175 |                                                        |   |   | $              227,639,650                                  |   |   |   | $               3,059,051 |   |   |   | $              230,703,876 |   |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Condensed                  Consolidated Statement of Cash Flows**

**(unaudited)**

|                                                                                                          |   |  For                the period February 1, 2007 (inception)to                September 30, 2007 |                                                                                      |
|---------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------|
|                                                                                                          |   |                                                                                                 |                                                                                      |
| **Cash                Flows from Operating Activities**                                                       |   |                                                                                                 |                                                                                      |
|     Net                income                                                             |   |                                                                                                 | $                       3,059,051                      |   |
| Adjustments                to reconcile net income with net cash used in operating                activities: |   |                                                                                                 |                                                                                      |   |
|     Interest                income                on investments held in trust            |   |                                                                                                 | (5,766,190                                                                                | ) |
| Change                in operating assets and liabilities:                                                    |   |                                                                                                 |                                                                                      |   |
|     Increase                in                prepaid expenses                            |   |                                                                                                 | (52,875                                                                                   | ) |
|     Increase                in                accrued expenses                            |   |                                                                                                 | 14,091                                                                                    |   |
|     Increase                in                deferred tax asset                          |   |                                                                                                 | (37,529                                                                                   | ) |
|     Increase                in                franchise tax payable                       |   |                                                                                                 | 42,869                                                                                    |   |
|     Increase                in                income and capital taxes payable            |   |                                                                                                 | 2,457,551                                                                                 |   |
| **Net                cash used in operating activities**                                                      |   |                                                                                                 | (283,032                                                                                  | ) |
| **Cash                Flows from Investing Activities**                                                       |   |                                                                                                 |                                                                                      |   |
|     Cash                deposited in trust                                                |   |                                                                                                 | (399,500,000                                                                              | ) |
|     Proceeds                from                trust                                     |   |                                                                                                 | 735,000                                                                                   |   |
|     Payment                of Acquisition costs                                           |   |                                                                                                 | 694,244                                                                                   |   |
| **Net                cash used in investing activities**                                                      |   |                                                                                                 | (399,459,244                                                                              | ) |
| **Cash                Flows from Financing Activities**                                                       |   |                                                                                                 |                                                                                      |   |
|                  Proceeds from sale of shares of common stock to Initial                Stockholders     |   |                                                                                                 | 25,000                                                                                    |   |
|                  Proceeds from notes payable to Initial Stockholders                                     |   |                                                                                                 | 137,000                                                                                   |   |
|                  Payment of notes payable to Initial Stockholders                                        |   |                                                                                                 | (137,000                                                                                  | ) |
|                  Proceeds from Offering                                                                  |   |                                                                                                 | 414,000,000                                                                               |   |
|                  Proceeds from issuance of Insider Warrants                                              |   |                                                                                                 | 3,000,000                                                                                 |   |
|                  Payment of costs associated with Offering                                               |   |                                                                                                 | (17,200,176                                                                               | ) |
| **Net                cash provided by financing activities**                                                  |   |                                                                                                 | 399,824,824                                                                               |   |
|                                                                                                          |   |                                                                                                 |                                                                                      |   |
| Net                increase in cash                                                                           |   |                                                                                                 | 82,548                                                                                    |   |
| Cash                at beginning of the period                                                                |   |                                                                                                 | --                                                                                        |   |
| Cash                at end of the period                                                                      |   |                                                                                                 | $                           82,548 |   |
|                                                                                                          |   |                                                                                                 |                                                                                      |   |
| **Supplemental                disclosure of non-cash investing and financing                activities**      |   |                                                                                                 |                                                                                      |   |
|                  Accrual of registration costs                                                           |   |                                                                                                 | $                           33,609 |   |
|                  Accrual of deferred underwriting fee                                                    |   |                                                                                                 | $                    12,420,000                                       |   |
|                  Accrual of Acquisition costs                                                            |   |                                                                                                 | $                         651,987            |   |

----

**Aldabra                2 Acquisition Corp.**

**(a                development stage company)**

**Notes                to****Condensed                Consolidated Financial Statements**

**(unaudited)**

| **1.** | **Organization                and****Business****Operations** | Aldabra                2 Acquisition Corp., a corporation in the development stage (the                “Company”), was incorporated in Delaware on February 1, 2007 for the                purpose of effecting a merger, capital stock exchange, asset acquisition                or other similar business combination with an operating business.                The                Company is considered to be in the development stage, as defined                in                Statement of Financial Accounting Standards (“SFAS”) No. 7, “Accounting                and Reporting by Development Stage Enterprises,” and is subject to the                risks associated with activities of development stage companies.                The                Company has selected December 31st as its fiscal year                end.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------|---------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                          | The                condensed consolidated financial statements at September 30, 2007 and                for the periods ended September 30, 2007 are unaudited. In the opinion                of                management, all adjustments (consisting of normal adjustments) have                been                made that are necessary to present fairly the financial position                of the                Company as of September 30, 2007, the results of its operations for                the                three month period ended September 30, 2007 and for the period from                February 1, 2007 (inception) through September 30, 2007, and its                cash                flows for the period from February 1, 2007 (inception) through September                30, 2007. Operating results for the interim period presented are                not                necessarily indicative of the results to be expected for a full year.                All                activity through June 22, 2007 relates to the Company’s formation and the                public offering described below.                                                                                                                                                                                                                                                                                                          |
|   |                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                          | The                registration statement for the Company’s initial public offering (the                “Offering”) was declared effective June 19, 2007. The Company consummated                the Offering on June 22, 2007 and received net proceeds of approximately                $384,380,000. The Company’s management has broad discretion with respect                to the specific application of the net proceeds of this Offering,                although                substantially all of the net proceeds of this Offering are intended                to be                generally applied toward consummating a business combination with                an                operating business (the “Business Combination”). Furthermore, there is no                assurance that the Company will be able to successfully effect a                Business                Combination. Upon the closing of the Offering, an aggregate of                $399,500,000, including the $3,000,000 proceeds of the private placement                (the “Private Placement”) described in Note 2 and the $12,420,000 of                deferred underwriters discounts described in Note 2, was placed in                a trust                account (the “Trust Account”) which is to be invested in United States                “government securities” within the  |
|   |                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

|   |   | meaning              of Section 2(a)(16) of the Investment Company Act of 1940, having a              maturity of 180 days or less or in money market funds meeting certain              conditions under Rule 2a-7 promulgated under the Investment Company              Act of              1940 until the earlier of (i) the consummation of the Company’s first              Business Combination and (ii) liquidation of the Company. The placing              of              funds in the Trust Account may not protect those funds from third-party              claims against the Company. Although the Company will seek to have              all              vendors and service providers (which would include any third parties              we              engaged to assist us in any way in connection with our search for a              target              business) and prospective target businesses execute agreements with              the              Company waiving any right, title, interest or claim of any kind in              or to              any monies held in the Trust Account, there is no guarantee that such              entities will execute such agreements. Nor is there any guarantee that,              even if such entities execute such agreements with us, they will not              seek              recourse against the Trust Account or that a court would not conclude              that              such agreements are not legally enforceable. The Company’s Chairman of the              Board and the Company’s Chief Executive Officer have agreed that they will              be liable under certain circumstances for ensuring that the proceeds              in              the Trust Account are not reduced by the claims of target businesses              or              claims of vendors or other entities that are owed money by the Company              for              services rendered or contracted for, or products sold to, the Company.              However, there can be no assurance that these entities will be able              to              satisfy those obligations. Furthermore, they will not have any personal              liability as to any claimed amounts owed to a third party who executed              a              waiver (including a prospective target business). Additionally, in              the case of a prospective target business that did not execute a waiver,              such liability will only be in an amount necessary to ensure that public              stockholders receive no less than $10.00 per share upon liquidation.              The              remaining net proceeds (not held in the Trust Account) may be used              to pay              for business, legal and accounting due diligence on prospective              acquisitions and continuing general and administrative              expenses. Additionally, up to an aggregate of $3,100,000 of interest              earned on the Trust Account balance may be released to the Company              to fund              working capital requirements and additional amounts may be released              to the              Company as necessary to satisfy tax obligations.  |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   | The                Company, after signing a definitive agreement for the acquisition                of a                target business, is required to submit such transaction for stockholder                approval. In the event that stockholders owning 40% or more of the                shares                sold in the Offering vote against the Business Combination and                exercise their conversion rights                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

|   |   | described                below, the Business Combination will not be consummated. All of the                Company’s stockholders prior to the Offering, including all of the                officers and directors of the Company (the “Initial Stockholders”), have                agreed to vote their founding shares of common stock in accordance                with                the vote of the majority in interest of all other stockholders of                the                Company (the “Public Stockholders”) with respect to any Business                Combination. After consummation of a Business Combination, these                voting                safeguards will no longer be applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |   | With                respect to a Business Combination that is approved and consummated,                any                Public Stockholder who voted against the Business Combination may                demand                that the Company convert such Public Stockholder’s shares. The per share                conversion price will equal the amount in the Trust Account, net                of                accrued taxes and expenses, calculated as of two business days prior                to                the consummation of the proposed Business Combination, divided by                the                number of shares of common stock held by Public Stockholders at the                consummation of the Offering. Accordingly, Public Stockholders holding                up                to 39.99% of the aggregate number of shares owned by all Public                Stockholders may seek conversion of their shares in the event of                a                Business Combination. Accordingly, a portion of the net proceeds                from the                Offering (39.99% of the amounts originally placed in the Trust Account)                has been classified as common stock subject to possible conversion                in the                accompanying balance sheet. Such Public Stockholders are entitled                to                receive their per share interest in the Trust Account computed without                regard to the shares held by Initial                Stockholders.  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |   | The                Company’s Amended and Restated Certificate of Incorporation provides that                the Company will continue in existence only until 24 months from                June 19,                2007, the effective date of the Offering. If the Company has not                completed                a Business Combination by such date, its corporate existence will                cease,                and it will dissolve and liquidate for the purposes of winding up                its                affairs. In the event of liquidation, it is possible that the per                share                value of the residual assets remaining available for distribution                (including Trust Fund assets) will be less than the Offering price                per                share in the Offering (assuming no value is attributed to the Warrants                contained in the Units sold in the Offering).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

----

**Aldabra                2 Acquisition Corp.**

**(a                development stage company)**

**Notes                to****Condensed                Consolidated Financial Statements**

**(unaudited)**

|   |                                                                       | **Concentration                of Credit Risk** – The Company maintains cash in a bank                deposit account that exceeds federally insured (FDIC) limits. The                Company                has not experienced any losses on this account.                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------|----------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                       | **Capitalized                Acquisition Costs**– Capitalized Acquisition costs includes direct                costs related to the Business Combination. Indirect and general                expenses are expensed as incurred.                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                       | **Deferred                Income Taxes**–** **Deferred income tax assets                and liabilities are computed for differences between the financial                statements and tax basis of assets and liabilities that will result                in                future taxable or deductible amounts and are based on enacted tax                laws and                rates applicable to the periods in which the differences are expected                to                effect taxable income. Valuation allowances are established when                necessary to reduce deferred income tax assets to the amount expected                to                be realized.  |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                       | **Net                Income Per Share****–**** **Net                income per share is computed by dividing net income by the weighted                average number of shares of common stock outstanding during the period.                The effect of the 41,400,000 outstanding Warrants issued in connection                with the Offering and the 3,000,000 outstanding Warrants issued in                connection with the Private Placement has not been considered in                diluted                income per share calculations, since such Warrants are contingently                exercisable.                                                                             |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                       | **Use                of Estimates****–**** **The                preparation of financial statements in conformity with accounting                principles generally accepted in the United States of America requires                management to make estimates and assumptions that affect the reported                amounts of assets and liabilities at the date of the financial statements                and the reported amounts of expenses during the reporting                period. Actual results could differ from those                estimates.                                                                                                                              |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                       | **New                Accounting Pronouncements****–**** **Management does not                believe that any recently issued, but not yet effective, accounting                standards, if currently adopted, would have a material effect on                the                accompanying financial statements.                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| **2.** | **Public                Offering and ****Private****Placement ** | In                June 2007, the Company completed its Offering in which it sold to                the                public 41,400,000 units (the “Units”), including 5,400,000 Units subject                to the underwriters’ over-allotment option at an Offering price of $10.00                per Unit. Each Unit consists of one share of the Company’s common stock                and one                                                                                                                                                                                                                                                                                       |
|   |                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

|   |   | Redeemable              Common Stock Purchase Warrant (the “Warrants”). Each Warrant will entitle              the holder to purchase from the Company one share of common stock at              an              exercise price of $7.50, commencing on the later of the completion              of a              Business Combination and one year from the effective date of the Offering              and expiring four years from the effective date of the Offering. The              Company may redeem the Warrants, at a price of $.01 per Warrant, upon              30              days’ notice while the Warrants are exercisable, only in the event that              the last sale price of the common stock is at least $14.25 per share              for              any 20 trading days within a 30 trading day period ending on the third              day              prior to the date on which notice of redemption is given. In accordance              with the warrant agreement relating to the Warrants to be sold and              issued              in the Offering, the Company is only required to use its best efforts              to              maintain the effectiveness of the registration statement covering the              Warrants. If a registration statement is not effective at the time              of              exercise, the Company will not be obligated to deliver securities,              and              there are no contractual penalties for failure to deliver securities.              Additionally, in the event that a registration is not effective at              the              time of exercise, the holder of such Warrant shall not be entitled              to              exercise such Warrant and in no event (whether in the case of a              registration statement not being effective or otherwise) will the Company              be required to net cash settle the Warrant exercise. Consequently,              the              Warrants may expire unexercised and unredeemed.  |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   | The                Company agreed to pay the underwriters in the Offering an underwriting                discount of 7% of the gross proceeds of the Offering. However, the                underwriters agreed that 3% of the gross proceeds of the Offering                ($12,420,000) will not be payable unless and until the Company completes                a                Business Combination. Furthermore, the underwriters have waived their                right to receive such payment upon the Company’s liquidation if the                Company is unable to complete a Business                Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   | Simultaneously                with the consummation of the Offering, the  Company’s Chairman                and the Company’s Chief Executive Officer purchased a total of 3,000,000                Warrants (the “Insider Warrants”) at $1.00 per Warrant (for an aggregate                purchase price of $3,000,000) privately from the Company. All of the                proceeds received from these purchases have been placed in the Trust                Account. The Insider Warrants purchased were identical to the                Warrants underlying the Units issued in the Offering except that                the                Warrants may not be called for redemption and the Insider Warrants                may be                exercisable on a “cashless basis,” at the                holder’s                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

|   |                                                                                         | option,                so long as such securities are held by such purchaser or his                affiliates. Furthermore, the purchaser has agreed that the Insider                Warrants will not be sold or transferred by them, except for estate                planning purposes, until after the Company has completed a Business                Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------|----------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| **3.** | **Purchase                Agreement for****Proposed                Business****Combination** | On                September 7, 2007, Boise White Paper, L.L.C., Boise Packaging &                Newsprint, L.L.C. and Boise Cascade Transportation Holdings Corp.                (collectively, the ‘‘Paper Group’’), Boise Cascade, L.L.C., (the                “Seller”), Boise Paper Holdings, L.L.C. (the “Target”), the Company and                Aldabra Sub LLC (the Company’s direct, wholly-owned subsidiary) entered                into a Purchase and Sale Agreement, as amended by Amendment No. 1                to                Purchase and Sale Agreement, dated October 18, 2007, by and among                such                persons (the “Purchase Agreement” and the transactions contemplated by the                Purchase Agreement, the “Acquisition”). Pursuant to the Purchase                Agreement, the Company will acquire the Paper Group and other assets                and                liabilities related to the operation of the paper, packaging and                newsprint, and transportation businesses of the Paper Group and most                of                the headquarters operations of the Seller (collectively, the business                to                be acquired from the Seller, “Boise Paper Products” or “BPP”) through the                acquisition of the Target. The Acquisition is structured such that,                upon                closing, Aldabra will indirectly own – through Aldabra Sub LLC – 100% of                the outstanding common units of the Target, which will in turn own                100% of                BPP, including 100% of the outstanding equity interests of the Paper                Group. The Company will account for the Acquisition using the purchase                method of accounting and will also allocate fair market value to                these                assets at the time of the Acquisition from a tax                perspective.  |
|   |                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                                                                         | **Use              of Offering Proceeds**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |                                                                                         | The                Company intends to use the proceeds currently in the Trust Account,                which                was valued at $401,524,000, net of accrued expenses and taxes, as                of                October 1, 2007, to acquire BPP’s assets, to pay transactions expenses                (including initial business, legal and accounting due diligence expenses                on prospective business combinations, general and administrative                expenses                and corporate income and franchise taxes) and to pay holders of Offering                shares who exercise their redemption rights. The net proceeds deposited                into the Trust Account remain on deposit in the Trust Account earning                interest and will not be released until the earlier of the consummation                of                a business combination or the Company’s                liquidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

----

**Aldabra                2 Acquisition Corp.**

**(a                development stage company)**

**Notes                to****Condensed                Consolidated Financial Statements**

**(unaudited)**

|   |   | **Purchase              Price**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |   | At                the closing of the Acquisition, the Company will deliver cash and                stock                (and under certain conditions detailed below, a subordinated promissory                note) equal to $1,625,000,000 plus or minus an incremental amount                equal to                the sum of (i) the Paper Group’s cash and cash equivalents (expected to be                $38,000,000), (ii) plus or minus the amount by which the estimated                net                working capital of the paper and packaging and newsprint businesses                of the                Seller is greater or less than $329,000,000 (as applicable), and                (iii)                plus the amount (if any) by which the Company’s and its subsidiaries’                estimated net working capital is less than $404,350,800, in each                case                calculated as of 11:59 p.m. (Boise, Idaho time) on the day before                closing                (the “Adjustment Calculation Time”) (the net amount derived from the                foregoing, the “total purchase price”). Following the closing, these                estimated amounts will be compared against the actual amounts, with                any                subsequent adjustments payable through the issuance to the Seller                of                additional shares of the Company’s common stock or the return by the                Seller and cancellation of shares of the Company’s common stock – in each                case, valued based upon an average per share closing price of the                Company’s common stock for the 20 trading day period ending three trading                days prior to closing, disregarding for this purpose in such period                any                day in which trading of the Company’s common stock was conducted by, or on                behalf of, an officer or director of the Company or a family member                or                affiliate thereof (the “Average Trading Price”) – held by the                Seller.  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |   | At                least $1,210,000,000 of the total purchase price must be paid in                cash,                plus the amount of fees and expenses paid directly by the Seller                to                lenders and/or agents providing the debt financing and minus other                expenses specified in the Purchase Agreement (the “Minimum Cash Amount”).                The actual cash portion of the total purchase price will equal the                amount                of the Company’s cash at closing (including the cash held in the Trust                Fund, but excluding any amounts paid upon exercise by the Company’s                stockholders of conversion rights), less transaction expenses plus                the                amount of the net proceeds from the debt financing, but will not                in any                event be less than the Minimum Cash Amount (the “Cash                Portion”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

|   |   | The                balance of the total purchase price will be paid in the Company’s common                stock. For purposes of calculating the number of shares that will                be                issued to the Seller, the Average Trading Price will not be higher                than                $10.00 per share or lower than $9.54 per share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | **Seller’s                Share Ownership Limitation**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | The                Purchase Agreement provides that the Seller will not receive shares                that                would cause it to hold in excess of 49% of the Company’s common stock                immediately following the closing of the Acquisition (excluding,                for                purposes of this calculation, the Company’s outstanding Warrants) and                that, in lieu of receiving shares in excess of 49%, the Company will                instead pay the Seller an amount equal to the value of such excess                shares                (valued at the Average Trading Price) in cash or through the issuance                of a                subordinated promissory note.                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | **Purchase              Price Adjustment**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | No                    later than one business day prior to the closing, (i) the Seller                    will                    deliver to the Company the Seller’s calculation of the estimated net                    working capital of the paper and packaging and newsprint businesses                    of the                    Seller as of the Adjustment Calculation Time and the estimated                    aggregate                    cash and cash equivalents of the Paper Group and its subsidiaries                    as of                    the Adjustment Calculation Time and (ii) the Company will deliver                    to the                    Seller the Company’s calculation of its estimated net working capital and                    its subsidiaries as of the Adjustment Calculation                    Time.                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | At                the closing of the Acquisition, the estimated total purchase price                of                $1,625,000,000 will be adjusted by (i) either adding the amount,                if any,                by which the estimated net working capital of the paper and packaging                and                newsprint businesses of the Seller is greater than $329,000,000 or                subtracting the amount, if any, by which the estimated net working                capital                of the paper and packaging and newsprint businesses of the Seller                is less                than $329,000,000, (ii) adding the estimated aggregate cash and cash                equivalents of the Paper Group and its subsidiaries as of the Adjustment                Calculation Time and (ii) adding the amount, if any, by which the                estimated net working capital of Aldabra and its subsidiaries is                less than                $404,350,800.  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   | Following                the closing, the estimated total purchase price will be subject to                reconciliation based upon the actual net working                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

----

**Aldabra                2 Acquisition Corp.**

**(a                development stage company)**

**Notes                to****Condensed                Consolidated Financial Statements**

**(unaudited)**

|         |                                                                          | capital                of the paper and packaging and newsprint businesses of the Seller,                the                actual aggregate cash and cash equivalents of the Paper Group and                its                subsidiaries and the actual net working capital of Aldabra and its                subsidiaries (in each case as of the Adjustment Calculation Time)                relative                to the estimates therefore utilized in the calculation of the estimated                total purchase price. If the estimated purchase price is greater                than the                total purchase price, the Seller is required, within five business                days                after the total purchase price is finally determined, to pay Aldabra                an                amount equal to such excess, which excess amount is payable by the                Seller’s delivery to Aldabra for cancellation of shares of Aldabra common                stock which, when multiplied by the Average Trading Price, equals                such                excess amount.  |
|--------------|-------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|         |                                                                          | **Consummation                of Acquisition**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|         |                                                                          | The                proposed Acquisition is subject to, among other things, the approval                of                the transaction by the Company’s stockholders. There can be no assurance                that the Acquisition will be consummated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **4.**  | **Accrued                Registration****Costs**                              | Accrued                registration costs consist primarily of legal and other fees, incurred                through the balance sheet date, that are directly related to the                Offering.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **5.**  | **Notes                Payable,****Stockholders**                             | The                Company issued unsecured promissory notes in an aggregate principal                amount                of $100,000 to two of the Initial Stockholders on February 27, 2007.                Additional unsecured promissory notes in aggregate amounts of $25,000                and                $12,000 were issued to the Initial Stockholders on June 12, 2007                and June                21, 2007, respectively. The notes were non-interest bearing and were                payable on the earlier of February 27, 2008 and the consummation                of the                Offering. The notes payable to Initial Stockholders were paid in                full on                June 22, 2007.                                                                                                                                                                                                                                                                                                                                                                                             |
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **6.**  | **Income              Taxes**         | For              the period from February 1, 2007 (inception) to September 30, 2007,              the              provision for income taxes consists of the following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|         |                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

|  Current:                                                                                                                                                                                                                                                                                                                                                                                          |   |    |      |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|-----------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                    |   |    |      |    |
| Federal                                                                                                                                                                                                                                                                                                                                                                                       |   |  $ | 1,614,427 |    |
| State                  and                  Local                                                          |   |    | 978,124   |    |
| Deferred                                                                                                                                                                                                                                                                                                                                                                                           |   |    | (37,529   | )  |
| Total                                                                                                                                                                                                                                                                                                                                                                                         |   |  $ | 2,555,022 |    |
|                                                                                                                                                                                                                                                                                                                                                                                                    |   |    |      |    |

----

**Aldabra                  2 Acquisition Corp.**

**(a                  development stage company)**

**Notes                  to****Condensed                  Consolidated Financial Statements**

**(unaudited)**

| Expenses                        deferred for income tax purposes                                                                                                                                                                                                                                                 |   | $      | 50,759 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Less:                        valuation                        allowance                                            |   |   | 13,230 |   |
| Total                                                                                                                                                                                                                                                                                                                           |   | $      | 37,529 |   |
|                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |

|   |                  | Management                has recorded a valuation allowance against its deferred tax asset                because,                based on its current operations at September 30, 2007, it believes                it is                more likely than not that sufficient taxable income will not be generated                to fully utilize this asset.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|-----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                  | The              Company’s effective tax rate of approximately 45% (which takes into              account the valuation allowance) differs from the federal statutory              rate              of 34% due to the effect of state and local income              taxes.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **7.** | **Commitments**  | The                Company presently occupies office space provided by an affiliate                of two of                the Initial Stockholders. Such affiliate has agreed that, until the                Company consummates a Business Combination, it will make such office                space, as well as certain office and secretarial services, available                to                the Company, as may be required by the Company from time to time.                The                Company has agreed to pay such affiliate $7,500 per month for such                services commencing on the effective date of the                Offering.                                                                                                                                                                                                                                                                                                                         |
|   |                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                  | Pursuant                to letter agreements that the Initial Stockholders entered into with                the                Company and the underwriters, the Initial Stockholders waived their                right                to receive distributions with respect to their founding shares upon                the                Company’s liquidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                  | The                Initial Stockholders and the holders of the Insider Warrants (or                underlying securities) will be entitled to registration rights with                respect to their founding shares or Insider Warrants (or underlying                securities) pursuant to an agreement that was signed prior to the                effective date of the Offering. The holders of the majority of the                founding shares are entitled to demand that the Company register                these                shares at any time commencing three months prior to the first anniversary                of the consummation of a Business Combination. The holders of the                Insider                Warrants (or underlying securities) are entitled to demand that the                Company register these securities at any time after the Company                consummates a Business Combination. In addition, the                Initial  |
|   |                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

----

**Aldabra                2 Acquisition Corp.**

**(a                development stage company)**

**Notes                to****Condensed                Consolidated Financial Statements**

**(unaudited)**

|         |                                      | Stockholders                and holders of the Insider Warrants (or underlying securities) have                certain “piggy-back” registration rights on registration statements filed                after the Company’s consummation of a Business                Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------------|-------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|         |                                      | As                long as the holders of (i) the shares of common stock issued to the                Seller pursuant to the Acquisition or (ii) any other shares of                Aldabra common stock acquired by the Seller control 33% or more of                the                Aldabra common stock issued to the Seller at the closing, Aldabra                will be                subject to restrictions on its business activities pursuant to the                terms                of an investor rights agreement by and between Aldabra, the Seller                and                certain directors and officers of Aldabra.                                                                                                                                                                                                                                                                                                                                                                       |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|         |                                      | The                Company agreed to pay the fees to the underwriters in the Offering                as                described in Note 2 above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **8.**  | **Common              Stock **  | Effective                June 12, 2007 and June 19, 2007, the Company’s Board of                Directors authorized a stock dividend of 0.5 shares of common stock                and 0.2 shares of common stock, respectively, for each outstanding                share of common stock. On June 12, 2007, the Company’s Certificate of                Incorporation was amended to increase the authorized shares of common                stock from 60,000,000 to 85,000,000 shares of common stock. On                June 19, 2007, the Company’s Certificate of Incorporation was further                amended to increase the authorized number of shares of common stock                to                100,000,000 shares of common stock. All references in the                accompanying financial statements to the number of shares of common                stock                have been retroactively restated to reflect these                transactions. |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **9.**       | **Preferred              Stock**     | The                Company is authorized to issue 1,000,000 shares of preferred stock                with                such designations, voting and other rights and preferences as may                be                determined from time to time by the Board of                Directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|         |                                      | The                agreement with the underwriters prohibits the Company, prior to a                Business                Combination, from issuing preferred stock that participates in the                proceeds of the Trust Account or which votes as a class with the                common                stock on a Business Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|         |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

**  **

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| **Item                2.** | **Management’s                Discussion and Analysis of Financial Condition and Results of                Operations** |
|----------------------------|-------------------------------------------------------------------------------------------------------------------------------|

**Forward-Looking      Information and Factors That May Affect Future Results**

**Overview**

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**Results      of Operations**

**Liquidity      and Capital Resources**

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**Off-Balance-Sheet      Arrangements**

**Item      3.    **
**Quantitative      and Qualitative Disclosures About Market Risk.**

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**Item      4.    Controls and      Procedures.**

**Effectiveness      of Disclosure Controls and Procedures**

**Changes      in Internal Control Over Financial Reporting**

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**PART      II—OTHER INFORMATION**

**Item      2.    Recent Sales of      Unregistered Securities; Use of Proceeds from Registered      Securities.**

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**Item      6.                      Exhibits.**

| Exhibit                Number | Description                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                          |                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.1                           | Purchase                and Sale Agreement, by and among Boise Cascade, L.L.C., Boise Paper                Holdings, L.L.C., Boise White Paper, L.L.C., Boise Packaging &                Newsprint, L.L.C., Boise Cascade Transportation Holdings Corp., Aldabra                2                Acquisition Corp. and Aldabra Sub LLC (1)                                                                                          |
| 2.2                           | Amendment                No. 1 to Purchase and Sale Agreement, dated October 18, 2007, by                and among                Boise Cascade, L.L.C., Boise Paper Holdings, L.L.C., Boise White                Paper,                L.L.C., Boise Packaging & Newsprint, L.L.C., Boise Cascade                Transportation Holdings Corp., Aldabra 2 Acquisition Corp. and Aldabra                Sub                LLC (2)  |
| 31*                           | Certification                of the Chief Executive Officer and the Chief Financial Officer Pursuant                to                Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                     |
| 32*                           | Certification                of the Chief Executive Officer and the Chief Financial Officer Pursuant                to                Section 906 of the Sarbanes-Oxley Act of                2002                                                                                                                                                                                                                                           |

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**SIGNATURES**

**            ALDABRA      2 ACQUISITION      CORP.**

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**EXHIBIT      INDEX**

| Exhibit                Number | Description                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                          |                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.1                           | Purchase                and Sale Agreement, by and among Boise Cascade, L.L.C., Boise Paper                Holdings, L.L.C., Boise White Paper, L.L.C., Boise Packaging &                Newsprint, L.L.C., Boise Cascade Transportation Holdings Corp., Aldabra                2                Acquisition Corp. and Aldabra Sub LLC (1)                                                                                          |
| 2.2                           | Amendment                No. 1 to Purchase and Sale Agreement, dated October 18, 2007, by                and among                Boise Cascade, L.L.C., Boise Paper Holdings, L.L.C., Boise White                Paper,                L.L.C., Boise Packaging & Newsprint, L.L.C., Boise Cascade                Transportation Holdings Corp., Aldabra 2 Acquisition Corp. and Aldabra                Sub                LLC (2)  |
| 31*                           | Certification                of the Chief Executive Officer and the Chief Financial Officer Pursuant                to                Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                     |
| 32*                           | Certification                of the Chief Executive Officer and the Chief Financial Officer Pursuant                to                Section 906 of the Sarbanes-Oxley Act of                2002                                                                                                                                                                                                                                           |