A SPAC II Acquisition Corp., a British Virgin Islands special purpose acquisition company, reported minimal assets outside its trust while it continues to seek a Business Combination. As of June 30, 2026, total assets were $617,464, including $533,880 held in the Trust Account and cash of $68,917 for working capital.
The company recorded a net loss of $151,004 for the six months ended June 30, 2026, driven by general and administrative expenses with limited interest income. Public share redemptions have reduced Class A ordinary shares subject to redemption to 43,594, carried at $12.247 per share. Current liabilities of $866,491 and a deferred underwriting fee of $7,000,000 result in a shareholders’ deficit of $(7,782,907).
The sponsor has provided non‑interest‑bearing, convertible promissory notes, with $410,048 outstanding, to fund ongoing costs while the company pursues a Business Combination by August 5, 2027. Management discloses substantial doubt about the company’s ability to continue as a going concern without completing a transaction and securing additional financing.
A SPAC II Acquisition Corp. reported a Q1 2026 net loss of $72,295, driven mainly by $75,985 of general and administrative expenses, partially offset by $3,690 of interest income. Cash was only $100,159 with a working capital deficit of $701,315, while $530,997 remained in the Trust Account tied to 43,594 redeemable Class A shares. The company has extended its deadline to complete a Business Combination to August 5, 2027 after significant redemptions and now trades on OTC markets following a prior Nasdaq suspension. Management states that limited liquidity, dependence on sponsor loans and the fixed liquidation deadline raise substantial doubt about its ability to continue as a going concern.
A SPAC II Acquisition Corp., a British Virgin Islands blank check company, filed its annual report describing its status and risks while it continues searching for a merger target in high‑growth “New Economy” sectors such as PropTech and FinTech.
The SPAC has repeatedly extended its deadline and now has until August 5, 2027 to complete a business combination after multiple shareholder-approved charter amendments and large redemptions, including 18,003,605 Class A shares in 2023 and 1,608,417 in 2024. As of February 17, 2026, it had 5,243,594 Class A and 100,000 Class B shares outstanding.
The company was delisted from Nasdaq in 2024 for not meeting continued listing standards and its securities now trade over the counter. As of December 31, 2025, it reported only $135 in cash outside the trust and a working capital deficit of $645,353, and its auditor noted substantial doubt about its ability to continue as a going concern if no deal is completed by the deadline. The filing also highlights extensive legal and regulatory risks tied to its China connections, potential China-based targets, PRC rules, HFCAA and PCAOB oversight, and U.S. foreign investment review by CFIUS.