It seems like you've provided a table of contents from a 10-Q financial report. Unfortunately, there is no title provided in the text you've given. A 10-Q report typically includes a title, but it's not present in this snippet. If you could provide more context or the actual title, I'd be happy to help you with generating the title for the article.

Press release · 6d ago
It seems like you've provided a table of contents from a 10-Q financial report. Unfortunately, there is no title provided in the text you've given. A 10-Q report typically includes a title, but it's not present in this snippet. If you could provide more context or the actual title, I'd be happy to help you with generating the title for the article.

It seems like you've provided a table of contents from a 10-Q financial report. Unfortunately, there is no title provided in the text you've given. A 10-Q report typically includes a title, but it's not present in this snippet. If you could provide more context or the actual title, I'd be happy to help you with generating the title for the article.

I apologize, but it seems that you haven’t provided a financial report (10-Q) for me to summarize. A 10-Q is a quarterly report filed by publicly traded companies with the Securities and Exchange Commission (SEC), and it typically includes financial statements, management’s discussion and analysis (MD&A), and other relevant information.

If you provide the actual report, I’d be happy to help you summarize the key financial figures, main events, and significant developments in a single paragraph.

Overview

AltEnergy is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company has been actively pursuing its initial business combination plans, but has faced several challenges and delays along the way.

Extension of Combination Period

To provide more time to complete the initial business combination, AltEnergy’s shareholders have approved several extensions to the deadline, most recently extending the deadline from May 2, 2025 to May 1, 2026. This has required the company to hold multiple special shareholder meetings and allow shareholders to redeem their shares, resulting in a significant reduction in the funds held in the company’s trust account.

Results of Operations

AltEnergy has not generated any operating revenues to date, as it has been focused on identifying and evaluating potential target companies for a business combination. The company has incurred expenses related to being a public company, as well as costs associated with the search for a suitable business combination target. For the three months ended March 31, 2025, the company reported a net loss of $1.14 million, primarily due to a loss on the change in fair value of the company’s warrant liabilities and interest expenses.

Going Concern Considerations, Liquidity and Capital Resources

As of March 31, 2025, AltEnergy had $8.6 million held in its trust account, with an additional $13,654 in cash held outside the trust account. The company has determined that it may lack the financial resources to sustain operations for a reasonable period of time, and there is substantial doubt about its ability to continue as a going concern.

To fund its operations and potential business combination, AltEnergy has relied on loans from its sponsor and the ability to convert such loans into private placement units. The company may need to obtain additional financing, either to complete a business combination or to meet its obligations if it is unable to do so.

Critical Accounting Policies

AltEnergy has identified several critical accounting policies, including the accounting for common stock subject to possible redemption, derivative financial instruments, and fair value measurements. These policies involve significant estimates and judgments by management that can impact the company’s financial statements.

Overall, AltEnergy faces significant challenges in completing its initial business combination within the extended deadline, and its ability to continue as a going concern is uncertain. The company will need to secure additional financing and successfully identify and execute a viable business combination in order to create value for its shareholders.