Andretti Acquisition Corp. II (NASDAQ: POLEW)

Andretti Acquisition Corp. II is a blank check company incorporated in the Cayman Islands on May 21 2024 formed for the purpose of a Business Combination with one or more businesses The company was created to raise capital through an initial public offering and then seek a merger or acquisition with a target operating business It intends to effect its Business Combination using cash from the proceeds of its Initial Public Offering and the private placement completed simultaneously with the offering proceeds from the sale of its ordinary shares in connection with the initial Business Combination shares issued to the owners of the target debt issued to banks or other lenders or other securities or any combination of these sources The company expects to incur significant costs while pursuing acquisition opportunities and may seek to extend the combination period under applicable laws and stock exchange rules Nasdaq requires special purpose acquisition companies such as Andretti Acquisition Corp. II to complete an initial Business Combination within thirty six months following the effectiveness of its registration statement for the Initial Public Offering As of the date of this filing the company has not engaged in any operating activities and has not generated any operating revenues Its sole activities to date have been organizational work preparation for the Initial Public Offering and the subsequent search for a suitable target company

Andretti Acquisition Corp. II does not currently generate operating revenue because it has not yet completed a Business Combination Its only source of income is non operating interest earned on marketable securities held in the Trust Account established after the Initial Public Offering For the three month period ended September 30 2025 the company reported interest income of two million five hundred one thousand four hundred dollars which was partially offset by general and administrative expenses of two hundred seventy thousand nine hundred ninety four dollars resulting in net income of two million two hundred thirty thousand four hundred six dollars For the nine month period ended September 30 2025 interest income amounted to seven million four hundred twenty seven thousand four hundred twenty one dollars while general and administrative costs totaled six hundred forty three thousand eight hundred nine dollars yielding net income of six million seven hundred eighty three thousand six hundred twelve dollars Similar patterns were observed in the prior year periods The company may withdraw interest from the Trust Account to pay any tax liabilities and plans to use substantially all of the funds in the Trust Account including accrued interest to finance the Business Combination After a Business Combination is completed the company anticipates that revenue will be derived from the operations of the acquired business or businesses

Andretti Acquisition Corp. II operates within the special purpose acquisition company industry commonly referred to as the blank check sector This industry consists of entities that raise funds through an initial public offering with the sole purpose of completing a merger or acquisition with an unidentified target business The company faces competition from numerous other blank check companies that are also seeking suitable targets and have similar structures and timelines Its competitive position is strengthened by its association with the Andretti brand through its sponsor Andretti Sponsor II LLC which provides access to a network of contacts in the motorsports and automotive sectors The involvement of BTIG as a participant in the private placement and the underwriting syndicate that oversaw the Initial Public Offering adds further credibility and distribution capability The company holds a substantial amount of capital in its Trust Account approximately two hundred forty one million nine hundred twenty seven thousand four hundred seventy two dollars as of September 30 2025 which gives it financial flexibility to pursue a variety of target opportunities The management team emphasizes disciplined target evaluation and the ability to complete a Business Combination within the Nasdaq thirty six month requirement as key factors that differentiate it from peers

As of the reporting date Andretti Acquisition Corp. II does not serve any customers because it has not yet completed a Business Combination and therefore has no operating business or client base The company’s current activities are limited to identifying evaluating and negotiating with potential target businesses Once a Business Combination is consummated the company expects to assume the customer relationships of the acquired business or businesses The type of customers it will ultimately serve will depend on the industry and nature of the target company which the management team is actively searching for across various sectors No specific customer names are disclosed in the filing because no such relationships exist at this time