0001213900-26-032389
SEC filingAA Mission Acquisition Corp. II (DNMX), a Cayman Islands blank check company formed on June 20, 2025, reported net income of $785K for FY 2025 ending December 31, 2025. As a SPAC with no operations or revenue, profitability stemmed from $1.3M in dividends earned on Trust Account investments, plus $4K interest on cash, offsetting $508K general and administrative costs and resulting in a $508K operating loss. The company completed its IPO on October 31, 2025, issuing 20,125,000 units at $10.00, generating $201.25M gross proceeds, of which $201.25M was placed in trust. At year-end, Trust investments stood at $202.5M (20,125,000 Class A shares at $10.06 redemption value), total assets at $203.9M, liabilities at $8.3M (including $8.1M deferred underwriting), and shareholders' deficit at -$6.8M. Cash outside trust was $1.3M. Net cash used in operations was -$382K, investing -$201.2M, financing +$203.0M. This is the inaugural period post-IPO; no prior year comparisons available. Forward-looking, the SPAC targets a business combination by October 31, 2027, focusing on energy, power, and digital infrastructure sectors with $1.0-$1.5B enterprise value targets, leveraging team expertise in AI-driven power demand.
AA Mission Acquisition Corp. II, a blank check company, reported FY 2025 results for the period from inception (June 20, 2025) to December 31, 2025. With no operational revenues, net income was $785K, driven by $1.3M total other income (primarily $1.3M dividends from Trust investments and $4K cash interest) against $508K G&A costs, yielding a $508K operating loss. Balance sheet reflects post-IPO position: total assets $203.9M, including $202.5M Trust investments and $1.4M current assets (cash $1.3M, prepaids $103K). Liabilities totaled $8.3M ($250K current, $8.1M deferred underwriting). Class A redeemable shares $202.5M; shareholders' deficit -$6.8M from accumulated deficit. Cash flows: operating -$382K, investing -$201.2M (Trust funding), financing +$203.0M (IPO proceeds). No prior periods for comparison as inaugural filing.
No operating revenues generated, consistent with SPAC status pre-business combination. Non-operating income of $1.3M solely from Trust dividends ($1.3M) and cash interest ($4K). IPO on October 31, 2025, raised $201.25M gross ($197.2M public units net of discounts, $6.3M private placement), fully invested in Trust yielding dividends. No segment or geographic breakdowns disclosed.
Not applicable due to absence of revenue and operations. Operating loss $508K reflects G&A costs as only expense. Net profitability from investment income exceeding costs. Accumulated deficit -$6.8M primarily from $12.7M IPO transaction costs (per document), expensed or capitalized impacting equity.
Net cash change +$1.3M to $1.3M ending balance. Operating cash -$382K (net income $785K adjusted for $1.3M non-cash dividends, working capital changes). Investing -$201.2M (Trust deposit). Financing +$203.0M (IPO net $197.2M + $6.3M private, offset by costs). Strong liquidity outside Trust at $1.3M for due diligence; Trust $202.5M intact. Low debt; current liabilities $250K, total $8.3M.
Management targets initial business combination by October 31, 2027, with at least 80% of Trust assets. Focus on energy/power/digital infrastructure amid AI power demand, enterprise value $1.0-$1.5B, U.S.-centric but global. May use Trust interest (up to 10% cap) for working capital/taxes. Risks include failure to find target, redemptions impacting cash, extension needs. Sponsor may provide loans up to $1.5M convertible to warrants. Administrative/advisory agreements with sponsor affiliate ongoing until combination.