LAFAYETTE ACQUISITION CORP. FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026
LaFayette Acquisition Corp. (LAFAU) filed its Form 10-Q for the quarter ended June 30, 2026, reporting a net loss of $1.4 million for the three months ended June 30, 2026, compared to a net loss of $1.1 million for the same period in 2025. As of June 30, 2026, the company had cash and cash equivalents of $14.4 million, compared to $15.4 million as of December 31, 2025. The company’s total assets decreased to $15.4 million as of June 30, 2026, from $16.4 million as of December 31, 2025, primarily due to the use of cash for operating activities. The company’s ordinary shares outstanding as of August 12, 2026, were 15,713,333.
Overview
The company is a blank check company formed in the Cayman Islands on June 7, 2024, with the purpose of merging with or acquiring one or more businesses (a “Business Combination”). The company completed its initial public offering (IPO) on October 27, 2025, raising $115 million by selling 11.5 million units at $10 per unit. Simultaneously, the company sold 380,000 private placement units at $10 per unit, raising an additional $3.8 million.
Results of Operations
The company has not engaged in any operations or generated any revenue to date. Its activities have been limited to organizational tasks, preparing for the IPO, and identifying potential target companies for a Business Combination. The company generates non-operating income in the form of interest earned on the funds held in the trust account from the IPO.
For the three months ended June 30, 2026, the company had a net income of $890,986, consisting of $1,034,576 in interest earned on the trust account, offset by $143,590 in formation, general, and administrative costs.
For the six months ended June 30, 2026, the company had a net income of $1,730,914, consisting of $2,057,164 in interest earned on the trust account, offset by $326,250 in formation, general, and administrative costs.
For the three and six months ended June 30, 2025, the company had a net loss of $10,421, which was due to formation, general, and administrative costs.
Liquidity and Going Concern Considerations
As of June 30, 2026, the company had $115 million held in the trust account from the IPO and private placement. The company incurred $6.7 million in transaction expenses related to the IPO.
For the six months ended June 30, 2026, the company used $282,910 in net cash for operating activities, which was offset by the $1,730,914 in net income. For the six months ended June 30, 2025, the company used no net cash for operating activities.
The company intends to use the funds held in the trust account to complete a Business Combination. If the company is unable to complete a Business Combination within the 21-month combination period, it will cease all operations except for the purpose of liquidating.
The company’s management has determined that the company currently lacks the liquidity needed to sustain operations for at least one year from the date the financial statements were issued, which raises substantial doubt about the company’s ability to continue as a going concern. The company plans to consummate a Business Combination prior to the end of the combination period to address this concern.
Off-Balance Sheet Arrangements and Contractual Obligations
The company has no off-balance sheet arrangements as of June 30, 2026. The company’s only significant contractual obligation is an agreement to pay the Sponsor or its affiliate $10,000 per month for office space, administrative, and support services.
The underwriters of the IPO were paid a cash underwriting discount of $2.3 million and are entitled to a deferred underwriting discount of $4.025 million.
Critical Accounting Estimates
As of June 30, 2026, the company did not have any critical accounting estimates to disclose.
