Cartesian Growth Corp II

Cartesian Growth Corporation II (CGC II) has scheduled an Extraordinary General Meeting for July 27, 2026, to seek shareholder approval for extending the deadline to complete an initial business combination. The proposed extension would move the termination date from August 5, 2026, to August 5, 2027. Shareholders have the option to redeem their Class A Ordinary Shares for approximately $12.47 per share if the extension is approved, with a deadline of July 23, 2026, for redemption requests. The Board unanimously recommends voting in favor of the extension, and the Sponsor, holding 65.1% of shares, intends to vote for it.

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.

Cartesian Growth Corporation II issued an unsecured promissory note for $250,000 to its sponsor, CGC II Sponsor LLC, on May 5, 2026. The note is non-interest bearing and matures upon the earlier of the company's initial business combination or its winding up. The sponsor has the option to convert the principal into Working Capital Warrants at $1.00 per warrant if a business combination is completed, with terms identical to the IPO private placement warrants.