Launch Two Acquisition Corp. postponed its extraordinary general meeting from October 6 to October 7, 2026, at 10:00 a.m. Eastern Time. The meeting will consider, among other matters, a proposal to extend the deadline for completing an initial business combination from October 9, 2026, to April 9, 2027, through monthly extensions up to six times, or to an earlier date determined by the board. The deadline to exercise redemption rights was extended to October 5, 2026, at 5:00 p.m. Eastern Time, two business days before the meeting.
Launch Two Acquisition Corp. reported that Launch Two Sponsor LLC converted 5,749,999 Class B ordinary shares into the same number of Class A ordinary shares on September 30, 2026, on a one-for-one basis and for no additional consideration. The Class B shares were convertible at the holder’s option and had no expiration date. After the conversion, reported holdings were 5,749,999 Class A ordinary shares and 1 Class B ordinary share. Ryan Mark Gilbert, a director and the Sponsor’s sole managing member, may be deemed to beneficially own the Sponsor-held securities; he disclaims beneficial ownership except to the extent of his pecuniary interest.
Launch Two Acquisition Corp. issued 5,749,999 Class A ordinary shares to Launch Two Sponsor LLC on September 30, 2026, when the sponsor converted an equal number of Class B ordinary shares. After the conversion, 28,749,999 Class A ordinary shares and 1 Class B ordinary share were issued and outstanding. The converted shares remain subject to the restrictions that applied to the Class B shares, including certain transfer restrictions, waiver of redemption rights and the obligation to vote in favor of an initial business combination.
The company and its sponsor intend to enter into non-redemption agreements with one or more shareholders in connection with a proposal to extend the business-combination deadline from October 9, 2026 to April 9, 2027. Investors would agree not to redeem a to-be-determined number of Class A shares and to vote for the proposal. The sponsor anticipates transferring a certain number of its Class A shares to those investors promptly after the initial business combination, at a ratio to be negotiated. If entered, the agreements are expected to increase the likelihood of approval and the funds remaining in the trust account.
Launch Two Acquisition Corp. (LPBB) reported that, together with NuCube Energy, Inc., it has publicly filed a registration statement on Form S-4 with the SEC, with NuCube as co-registrant, in connection with their previously announced proposed business combination. The Form S‑4 includes a preliminary proxy statement/prospectus for Launch Two shareholders and has not yet been declared effective.
Closing of the business combination will depend on approval by Launch Two’s shareholders and NuCube’s stockholders and other customary conditions, and there is no assurance it will be completed. The disclosure highlights extensive forward‑looking statements and risk factors, including deal completion risk, listing risk for the combined company, regulatory and licensing challenges for NuCube’s advanced nuclear microreactor business, and potential legal proceedings.
Launch Two Acquisition Corp. (LPBB) is asking shareholders to approve amendments extending the deadline to complete a Business Combination, including its planned merger with NuCube Energy, beyond October 9, 2026. The board seeks authority to extend the completion window monthly, up to six times, to as late as April 9, 2027, and to ratify Withum as auditor and permit potential meeting adjournments to solicit more proxies.
Holders of the 23,000,000 Class A public shares may elect to redeem in connection with the extension vote for cash equal to their pro rata share of the funds in the trust account, which held about $249.4 million, or roughly $10.84 per public share, as of September 9, 2026. Public shareholders who do not redeem retain the right to vote on and redeem in connection with the NuCube Business Combination (or another deal) or to receive cash if no combination is completed by the extended deadline. If the extension is not approved and no business combination closes by October 9, 2026, the company will redeem all public shares and liquidate, and the warrants will expire worthless.
Launch Two Acquisition Corp. (LPBB) disclosed that, due to a limited cash balance, it entered into a $848,000 Working Capital Promissory Note with its sponsor, Launch Two Sponsor, LLC, on August 17, 2026. The note carries a 10% prepayment penalty, matures at the earlier of the initial business combination, winding up, or six months after issuance, and can be extended for two months and then three additional months with fees of 1% and 1.5% of outstanding principal added to the loan balance.
The sponsor financed this note via an $848,000 Credit Agreement with SRX Global Inc., securing the loan by pledging 2,932,500 Class B shares (about 51% of its founder shares) as collateral and agreeing to transfer 150,000 Class B shares upon completion of a business combination. The sponsor also agreed to sell 350,000 Class B shares at $0.04 per share to Strategic Capital Advisories for consulting services. These transactions required a waiver under the existing Insider Letter to permit the pledges and transfers, while the credit and pledge agreements bind only the sponsor and not the company.
Launch Two Acquisition Corp., a Cayman Islands SPAC, reported June 30, 2026 assets of $247.8 million, almost entirely cash and marketable securities in its Trust Account of $247.7 million, or $10.77 per each of the 23,000,000 redeemable Class A shares. Operating cash was $23,197 with a working capital deficit of $1.0 million.
For the six months ended June 30, 2026, the company generated net income of $3.1 million, driven by $4.3 million of interest on Trust investments, partially offset by $1.2 million of general and administrative costs. No operating revenues have begun; activities remain limited to pursuing a business combination.
On June 25, 2026, Launch Two signed a Business Combination Agreement with NuCube Energy, Inc. with a base equity Purchase Price of $500 million priced at $10.82 per share, plus an earnout of up to 12,575,000 additional shares if post-closing price targets are met. The SPAC must complete a business combination by October 9, 2026 (the Combination Period) or redeem all public shares, and management discloses that this deadline and limited liquidity raise substantial doubt about its ability to continue as a going concern.
Meteora Capital, LLC and its managing member Vik Mittal report beneficial ownership of Class A common stock of Launch Two Acquisition Corp.. The reporting group is attributed 249,300 shares of Class A common stock, representing 1.08% of the class as of June 30, 2026.
The shares are held by funds and managed accounts for which Meteora Capital serves as investment manager, with shared voting and dispositive power over all 249,300 shares and no sole voting or dispositive power. The filers state this position represents ownership of 5% or less of the outstanding Class A common stock and clarify that the filing should not be taken as an admission of beneficial ownership for Section 13 purposes.
The Goldman Sachs Group, Inc. and its subsidiary Goldman Sachs & Co. LLC report beneficial ownership of Class A ordinary shares of Launch Two Acquisition Corp. They report 879,790 shares with shared voting and dispositive power and no sole power, representing 3.8% of the class as of June 30, 2026. The position is reported as ownership of 5 percent or less of the outstanding Class A ordinary shares. The securities are held through Goldman Sachs, a registered broker-dealer and investment adviser, and certain Goldman Sachs operating units disclaim beneficial ownership for client and managed accounts under applicable SEC guidance.
Barclays PLC reports its beneficial ownership in Launch Two Acquisition- CL A Class A common stock. As of June 30, 2026, Barclays reports beneficial ownership of 1,144,279 shares, representing 4.97% of the outstanding Class A common stock.
All of these shares are reported with sole voting power and sole dispositive power, with no shared voting or dispositive power. The ownership is reported by Barclays PLC as a parent holding company, with Barclays Bank PLC identified as the subsidiary that acquired the securities. The position is characterized as ownership of 5 percent or less of the class.