Dune Acquisition Corp II

Collective Acquisition Corp. (formerly Dune Acquisition Corp. II) reported a net income of $714,594 for the three months ended March 31, 2026, a significant improvement from a $48,094 loss in the prior year, primarily due to $1.3 million in interest earned on its Trust Account. The company also underwent a significant change in control, with Collective Acquisition Sponsor LLC purchasing a majority stake from the Original Sponsor for $2 million, leading to new management and board appointments. Despite the net income, the company's operating cash decreased, and it noted substantial doubt about its ability to continue as a going concern.

Dune Acquisition Corp II (IPOD) adopted its Second Amended and Restated Memorandum and Articles of Association, effective April 21, 2026. These new articles, under the name Collective Acquisition Corp., detail the company's share capital structure, including 200 million Class A, 20 million Class B, and 1 million preference shares, all with a par value of $0.0001 each. Key provisions include the automatic conversion of Class B shares into Class A shares upon a business combination, with anti-dilution adjustments.