Quarterly ResultMay 12, 2026, 04:22 PM
Alussa Energy II Q1 Net Income $2.21M; Trust Account $291.4M
AI Summary
Alussa Energy Acquisition Corp. II reported a net income of $2.21 million for the three months ended March 31, 2026, a significant improvement from a net loss of $525 in the prior year period. This income was primarily driven by $2.50 million in interest earned on investments held in its Trust Account, which grew to $291.44 million. The SPAC continues to seek a business combination, with $824,442 in cash and $701,728 in working capital.
Key Highlights
- Net income for Q1 2026 was $2.21 million, compared to a net loss of $525 in Q1 2025.
- Interest earned on investments in the Trust Account totaled $2.50 million for Q1 2026.
- The Trust Account balance increased to $291.44 million as of March 31, 2026.
- Cash balance was $824,442 as of March 31, 2026, down from $1.16 million at December 31, 2025.
- Working capital stood at $701,728 as of March 31, 2026.
- The related party loan of $197,917 was fully repaid on January 12, 2026.
- The company has 24 months from its November 14, 2025 IPO to complete a business combination.