Southport Acquisition Corp. II has filed its unaudited financial results as of October 2, 2026, following the completion of its initial public offering (IPO). The company, incorporated as a Cayman Islands exempted company on July 8, 2026, has not commenced any operations and does not expect to generate operating revenues until after the completion of its initial business combination.
The financial statement reflects the capital raised through the IPO and a concurrent private placement. The IPO consisted of 21,000,000 units sold at a price of $10.00 per unit, generating gross proceeds of $210,000,000. Each unit comprises one Class A ordinary share and one-half of a redeemable warrant. Simultaneously, the company completed a private placement of 770,000 units to Southport Acquisition Sponsor II LLC (the sponsor) and Cohen & Company Capital Markets, generating an additional $7,700,000 in gross proceeds.
Total gross proceeds from the transactions amounted to $217,700,000. After accounting for transaction costs of $13,131,749, the net proceeds were $204,568,251. These funds were placed in a trust account managed by Continental Stock Transfer & Trust Company, with an initial balance of $211,430,000 as of October 2, 2026.
The balance sheet shows total assets of $211,430,000, consisting entirely of cash held in the trust account. The company reported total liabilities of $9,030,329, primarily consisting of deferred underwriting commissions of $8,400,000 and current liabilities related to offering costs and accounts payable. The company’s equity section reflects Class A ordinary shares issued to the public and sponsor, as well as a shareholders' deficit of $9,700,329.
The company has not yet selected a specific business combination target and has not engaged in substantive discussions with potential targets. The trust account is invested in U.S. government treasury obligations with a maturity of 185 days or less. The company has selected December 31 as its fiscal year-end.
