Quarterly ResultMay 15, 2026, 06:18 AM
Cartesian Growth Corp II Delisted from Nasdaq; Going Concern Doubt
AI Summary
Cartesian Growth Corp II reported a net income of $3.09 million for the three months ended March 31, 2026, a significant increase from $0.56 million in the prior year, primarily driven by a favorable change in the fair value of warrant liabilities. However, the company was delisted from Nasdaq on July 15, 2025, due to its failure to complete a business combination within the required timeframe and is now quoted on the over-the-counter market. Management has also identified substantial doubt about the company's ability to continue as a going concern, with a mandatory liquidation date of August 5, 2026, following a shareholder-approved extension.
Key Highlights
- Cartesian Growth Corp II was delisted from Nasdaq on July 15, 2025, and is now quoted on the OTC market.
- Net income for Q1 2026 was $3.09 million, a significant increase from $0.56 million in Q1 2025.
- Basic and diluted EPS for Q1 2026 was $0.35, up from $0.04 in Q1 2025.
- Warrant liabilities decreased to $1.33 million as of March 31, 2026, from $4.47 million.
- The Trust Account balance increased to $38.15 million as of March 31, 2026.
- Shareholders approved an extension of the business combination deadline to August 5, 2026.
- Management identified substantial doubt about the company's ability to continue as a going concern.
- Total redemptions from three charter amendments amounted to approximately $228.2 million.
Price Impact
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