[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_102":103},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","fjh30cj6phutc9vvw4lvg40cj","revision",2,"title","Plutonian Acquisition Corp II 未开展运营，启动并购计划","originalTitle","Plutonian Acquisition Corp. II (0002065661) (Filer)","summary","Plutonian Acquisition Corp II 是一家成立于2024年11月的空白支票公司，截至2026年8月31日未开展实际运营，已通过IPO募集1亿美元，并计划以5亿美元收购NT1 Pty Ltd。公司需在2027年4月27日前完成业务合并，否则将清算。公司面临持续经营风险，且未确认重大税务事项。","reason","Plutonian Acquisition Corp II 未开展实际运营，已启动并购计划，但面临完成业务合并的时限压力及持续经营风险。","source",{"_12":93,"_94":95,"_9":96,"_97":42,"_98":99,"_100":101},"links",{"_90":91,"_78":92},"publishedAt","2026-10-15T20:15:49.000Z","discoveredAt","2026-10-15T22:50:03.655Z","timelineAt","category","tip","tags",[84,85,86,87,88,89],"stockSymbols",[83],"score",75,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":77,"_78":-5,"_79":80,"_81":82},"outline",[],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":71},"hasTranslation","bodyLanguage","zh","factId","fLR-DGVIuKms",{"_73":74,"_16":75},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","2b77799c-bd60-4042-aaec-cbacc97cc878","Plutonian Acquisition Corp II 并购计划",{"_73":74,"_16":75},"

美国

证券交易委员会

华盛顿特区 20549

表格 10-Q

(选择一项)

☒ 根据《1934 年证券交易法》第 13 或 15(d) 条的季度报告

截至 2026 年 8 月 31 日的季度

☐ 根据《1934 年证券交易法》第 13 或 15(d) 条的过渡报告

从至的过渡期

委员会文件编号: 0-43429

普鲁托尼亚收购公司 II

(注册人根据其章程所指定的准确名称)

开曼群岛

N/A

(州或其他司法管辖区)

的注册或组织)

(美国国税局雇主

识别号码)

1216 Broadway

纽约, 纽约 10001

(主要执行办公室地址)

+1 (646) 886-8892

(注册人的电话号码)

根据《法案》第 12(b) 条注册的证券:

每类证券的名称	交易代码	每种证券的注册交易所名称
单位，每单位包括一股 A 类普通股，面值为每股 0.0001 美元，以及权利	PLUNU	纽约证券交易所
A 类普通股，面值为每股 0.0001 美元	PLUN	纽约证券交易所
权利，每个权利使持有人在完成首次业务合并后有权获得四分之一股 A 类普通股	PLUNR	纽约证券交易所

检查方框表示注册人(1)是否已提交根据《交换法》第 13 或 15(d) 条在过去 12 个月(或注册人需要提交此类报告的较短期间)内必须提交的所有报告，以及(2)是否在过去 90 天内受到这些提交要求的约束。是 ☒ 否 ☐

通过勾选方框表示注册人是否在前 12 个月(或注册人需要提交此类文件的较短期间)内提交了根据 S-T 规则 405(本章第 232.405 条)必须提交的每个交互式数据文件。是 ☒ 否 ☐

通过勾选方框表示注册人是否为大型加速提交者、加速提交者、非加速提交者、较小报告公司或新兴成长公司。请参见《交换法》第 12b-2 条中对“大型加速提交者”、“加速提交者”、“较小报告公司”和“新兴成长公司”的定义。

大型加速提交者	☐	加速提交者	☐
非加速提交者	☒	较小报告公司	☒
		新兴成长公司	☒

如果是一家新兴成长公司，请通过勾选方框表示注册人是否已选择不使用《交换法》第 13(a) 条规定的任何新修订的财务会计标准的延长过渡期。 ☐

通过勾选方框表示注册人是否为壳公司(根据《交换法》第 12b-2 条的定义)。是 ☒ 否 ☐

截至2026年10月15日，已发行并流通的A类股为11,383,837股，B类普通股为2,687,500股，包括单位所含的A类普通股。

PLUTONIAN ACQUISITION CORP II

截至2026年8月31日止季度的10-Q表

		页码
第一部分：财务信息		3
第1项：财务报表		3
截至2026年8月31日（未经审计）和2026年2月28日的合并资产负债表		3
截至2026年8月31日及2025年同期的未经审计的合并损益表		4
截至2026年8月31日及2025年同期的未经审计的股东权益（亏损）变动表		5
截至2026年8月31日及2025年同期的未经审计的现金流量表		6
未经审计的合并财务报表附注		7
第2项：管理层讨论与分析		21
第3项：关于市场风险的定量和定性披露		25
第4项：内部控制和程序		25
第二部分：其他信息		27
第1项：法律诉讼		27
第1A项：风险因素		27
第2项：未注册的股权证券销售和资金使用		27
第3项：高级证券违约		27
第4项：矿山安全披露		27
第5项：其他信息		27
第6项：附录		28
第三部分：签名		29

第一部分 – 财务信息

第1项：未经审计的合并财务报表。

PLUTONIAN ACQUISITION CORP II

合并资产负债表

	2026年8月31日 2026		2026年2月28日 2026
	（未经审计）		（经审计）
资产：
流动资产
现金及现金等价物	$	270,975		$	49,273
预付费用		20,250			417
流动资产合计		291,225			49,690

发行费用递延		-			99,756
信托账户中的投资		109,332,247			-
总资产	$	109,623,472		$	149,446

负债、可能赎回的普通股和股东权益（亏损）
流动负债
应付账款和应计费用	$	69,500		$	6,000
应付关联方		3,480			-
关联方的本票		-			200,000
流动负债合计		72,980			206,000
总负债		72,980			206,000

承诺和或有事项 – 参见第6号附注

A类普通股，面值0.0001美元，授权480,000,000股，截至2026年8月31日和2026年2月28日，分别有10,750,000股和0股可能按每股10.17美元和0美元的赎回价值赎回		109,332,247			-

股东权益（亏损）
优先股，面值0.0001美元，授权10,000,000股，未发行和流通		-			-
A类普通股，面值0.0001美元，授权480,000,000股，已发行和流通633,837股（不包括10,750,000股可能赎回的股份）		63			-
B类普通股，面值0.0001美元，授权10,000,000股，已发行和流通2,687,500股和2,875,000股⁽¹⁾（不包括10,750,000股可能赎回的股份）		268			287
额外支付资本		-			24,713
留存收益（累计亏损）		217,914			(81,554	)
股东权益（亏损）合计		218,245			(56,554	)
总负债、可能赎回的普通股和股东权益（赤字）	$	109,623,472		$	149,446

(1)	B类普通股已追溯调整，以反映相当于0.388889的股票股息，使创始人股份增加至2026年2月的2,875,000股。包括如果承销商未全部或部分行使超额配售选择权，则可能被没收的375,000股普通股（参见注释5）。

	由于承销商部分行使了其于2026年5月5日购买750,000单位的超额配售选择权，187,500股被没收。

附注是这些未经审计的中期财务报表不可分割的一部分。

PLUTONIAN ACQUISITION CORP II

未经审计的损益表

	For the 三个月结束于 8月31日			For the 六个月结束于 8月31日
	2026			2025			2026		2025
一般及行政费用	$	259,473			$	17,250		$	365,491		$	63,233
运营亏损		(259,473	)			(17,250	)		(365,491	)		(63,233	)

其他收入：
银行利息		3,665				884			3,994			1,443
存放在信托账户中的投资产生的利息		967,381				-			1,294,747			-
其他收入总额		971,046				884			1,298,741			1,443
净收入（亏损）	$	711,573			$	(16,366	)	$	933,250		$	(61,790	)

基本和摊薄加权平均股数，A类可能赎回普通股		10,750,000				-			7,220,109			-

基本和摊薄每股净收入，A类可能赎回普通股	$	0.05			$	-		$	0.09		$	-

基本和摊薄加权平均股数，不可赎回的A类和B类普通股 ⁽¹⁾		3,321,237				2,500,000			3,252,453			2,500,000

基本和摊薄每股净收入（亏损），不可赎回的A类和B类普通股 ⁽¹⁾	$	0.05			$	(0.01	)	$	0.09		$	(0.02	)

(1)	B类普通股已追溯调整，以反映相当于0.388889的股票股息，使创始人股份增加至2026年2月的2,875,000股。不包括如果承销商未全部或部分行使超额配售选择权，则可能被没收的375,000股普通股（参见注释5）。由于承销商部分行使了其于2026年5月5日购买750,000单位的超额配售选择权，187,500股被没收。

附注是这些未经审计的中期财务报表不可分割的一部分。

PLUTONIAN ACQUISITION CORP II

未经审计的股东权益（赤字）变动表

权益（赤字）

截至2026年8月31日的三个月和六个月

	普通股		额外			（累计赤字）	总计股东权益
	A类		B类			实收资本	留存收益		（赤字）
	股数		金额			股数	金额		资本			收益			权益
2026年2月28日余额 ⁽¹⁾		-		$	-		2,875,000		$	287			$	24,713		$	(81,554	)	$	(56,554	)
私募单位的发行		217,800			22		-			-				2,177,978			-			2,178,000
代表股份按估计价值发行		416,037			41		-			-				648,821			-			648,862
行使超额配售选择权		-			-		-			-				135,060			-			135,060
创始人股份的没收		-			-		(187,500	)		(19	)			19			-			-
公开认股权的发行，扣除发行成本		-			-		-			-				4,017,051			-			4,017,051
分配给可赎回股份的交易成本		-			-		-			-				(67,948	)		-			(67,948	)
对可能赎回普通股的后续计量（信托账户利息收入）		-			-		-			-				(327,366	)		-			(327,366	)
可能赎回普通股账面价值向赎回价值的摊销		-			-		-			-				(6,274,730	)		-			(6,274,730	)
净收入		-			-		-			-				-			221,677			221,677
截至5月的余额 2026年5月31日		633,837		$	63		2,687,500		$	268			$	333,599		$	140,123		$	474,053
可赎回普通股的账面价值向赎回价值的增值		-			-		-			-				(333,599	)		(633,782	)		(967,381	)
净利润		-			-		-			-				-			711,573			711,573
截至2026年8月31日的余额		633,837		$	63		2,687,500		$	268			$	-		$	217,914		$	218,245

截至2025年8月31日的三个月和六个月

	普通股		额外				总计股东权益
	A类		B类			实缴资本	累计	权益
	股份数量		金额			股份数量	金额	资本		亏损			(亏损)
2025年2月28日的余额 ⁽¹⁾		-		$	-		2,875,000	$	287		$	24,713		$	(3,600	)	$	21,400
净亏损		-			-		-		-			-			(45,424	)		(45,424	)
截至2025年5月31日的余额		-		$	-		2,875,000	$	287		$	24,713		$	(49,024	)	$	(24,024	)
净亏损		-			-		-		-			-			(16,366	)		(16,366	)
截至2025年8月31日的余额		-		$	-		2,875,000	$	287		$	24,713		$	(65,390	)	$	(40,390	)

(1)	B类普通股已追溯调整，以反映2026年2月的股票股息，股息金额为0.388889，使创始人股份增加至2,875,000股。包括375,000股普通股，如果承销商未全部或部分行使超额配售选择权，则可能被没收（参见第5号注释）由于承销商部分行使了其于2026年5月5日购买750,000个单位的超额配售选择权，187,500股被没收。

附注是未经审计的简要财务报表的组成部分。

普鲁托尼亚收购公司II

未经审计的现金流量简表

	截至六个月 2026年8月31日
	2026			2025
经营活动产生的现金流量：
净利润（亏损）	$	933,250			$	(61,790	)
营运资产和负债的变化：
信托账户中持有的投资产生的利息		(1,294,747	)			-
应付关联方		3,480				-
预付费用		(19,832	)			(2,917	)
应付账款和应计费用		63,500				23,000
经营活动使用的净现金		(314,349	)			(41,707	)

投资活动产生的现金流量：
购买信托账户中的投资		(108,037,500	)			-
投资活动使用的净现金		(108,037,500	)			-

融资活动产生的现金流量：
公开发行单位的销售收入		107,500,000				-
私募单位的销售收入		2,178,000				-
支付承销商费用		(580,500	)			-
支付发行费用		(323,949	)			(29,815	)
来自关联方的票据发行收入		-				100,000
偿还关联方预付款		-				(3,600	)
偿还关联方票据		(200,000	)			-
融资活动提供的净现金		108,573,551				66,585

现金净变动		221,702				24,878
期初现金余额		49,273				75,000
期末现金余额	$	270,975			$	99,878

现金流量信息的补充披露：
账面价值重估至赎回价值	$	1,294,747				-
A类可赎回普通股的账面价值向赎回价值的增值	$	6,274,730			$	-
计入应计发行费用的递延发行费用	$	-			$	20,000

附注是未经审计的简要财务报表的组成部分。

普鲁托尼亚收购公司II

未经审计的简要财务报表附注

注1 — 组织与业务运营

Plutonian Acquisition Corp II（“公司”或“Plutonian II”）是一家于2024年11月1日根据开曼群岛免税公司法成立的公司。该公司成立的目的是与一个或多个企业（“业务合并”）进行合并、股份交换、资产收购、股份购买、重组或类似的企业合并。公司不限于特定行业或领域以完成业务合并。公司计划将目标公司集中在亚太地区，并且不会与任何在中国大陆注册或主要业务在中国大陆的公司进行首次业务合并。公司是一家早期阶段和成长型公司，因此会面临所有与早期阶段和成长型公司相关的风险。

截至2026年8月31日，公司尚未开展任何业务。截至2026年8月31日的所有活动均与组织活动以及完成首次公开募股（“IPO”，如下文定义）相关，以及在IPO之后寻找进行首次业务合并的目标公司。公司最早在完成业务合并后才会产生运营收入。公司将会通过首次公开募股和私募单位销售（如下文定义）所得款项产生的股息和/或利息收入形式产生非运营收入。公司已选择2月28日作为财年结束日。

公司的发起人是Plutonian Capital II LLC，一家特拉华州有限责任公司（“发起人”）。

首次公开募股的注册声明于2026年4月27日被宣布生效。2026年4月29日，公司完成了10,000,000个单位（“公众单位”）的首次公开募股。公众单位的售价为每个单位10.00美元，产生毛收入100,000,000美元。同时，公司以每个单位10.00美元的价格向其发起人出售了210,000个单位（“私募单位”），在私募中产生了2,100,000美元的毛收入，详见注释4。

公司授予承销商45天的期权，以每个单位10.00美元的价格购买最多额外1,500,000个单位（“期权单位”），以覆盖超额配售情况。2026年4月29日，承销商通知公司部分行使超额配售期权，以每个单位10.00美元的价格购买750,000个额外单位（“期权单位”）。期权单位的发行和销售于2026年5月5日完成，产生7,500,000美元的毛收入。同时，公司完成了向发起人以每个私募单位10.00美元的价格出售总计7,800个私募单位，产生78,000美元的毛收入。因此，公司总共出售了10,750,000个公众单位和217,800个私募单位。

总交易成本（包括超额配售选择权）为1,788,127美元，其中包括580,500美元的承销佣金，该费用在IPO及超额配售选择权交割日以现金支付，以及1,207,627美元的法律及其他发行成本。在IPO当日，有566,686美元现金（包括由发起人于2026年4月30日提供的559,039美元，扣除200,000美元未偿还的发起人贷款）存放在信托账户之外，可用于营运资金。

公司管理层在IPO及私募单位销售的净收益的具体用途方面拥有广泛自主权，尽管大部分净收益旨在一般性地用于完成业务合并。公司必须在达成初步业务合并协议时，完成一项业务合并，其总公允市场价值至少为信托账户中资产的80%（如下文所定义）（不包括递延承销佣金和信托账户利息应缴税款）。如果交易后公司拥有或收购目标公司50%或以上的已发行投票证券，或以其他方式获得对目标公司的控制性权益，使其无需根据《1940年投资公司法》（经修订）（“投资公司法”）注册为投资公司，公司将仅完成一项业务合并。无法保证公司能够成功完成业务合并。

在2026年4月29日IPO结束以及2026年5月5日超额配售选择权行使后，从公开发行单位、期权单位和私人单位销售中获得的净收益中，有108,037,500美元（每份公众单位10.05美元）被存入信托账户（“信托账户”），该账户位于美国，由大陆转让与信托公司担任受托人。信托账户中的资金仅会投资于到期日不超过185天的美国政府国库券，或投资于符合《投资公司法》下规则2a-7规定的货币市场基金，这些基金仅投资于直接的美国政府国库券。除非根据信托账户中资金产生的股息和/或利息可能被释放给公司以支付公司的任何税款义务，否则存入并持有于信托账户中的IPO收益和私募单位销售收益将不会从信托账户中释放，直到以下最早发生的事件发生：(i) 公司首次业务合并的完成；(ii) 任何正确提交的公众股份在与修改公司上市后修订和重述的公司章程和细则的股东投票中被赎回，(A) 修改公司未能在本注册声明生效日后12个月内完成公司首次业务合并时赎回我们全部公众股份的义务内容或时间，或(B) 关于股东权利或业务合并前活动的其他条款；(iii) 如果公司在本注册声明生效日后12个月内无法完成其首次业务合并，则赎回我们所有的公众股份，受适用法律的约束。在其他任何情况下，公众股东均无任何权利或利益以任何方式涉及或属于信托账户。

公司将在业务合并完成后，为股东提供机会，使其可以赎回全部或部分公开股份，这 either (i) 与召开批准业务合并的股东会议相关，或 (ii) 通过要约收购方式进行。如果公司寻求股东批准，投票的股份中多数将投赞成票支持业务合并。如果法律不要求股东投票，且公司因业务或其他法律原因决定不召开股东投票，公司将根据其上市后修订并重述的公司章程，按照美国证券交易委员会（“SEC”）的要约收购规则进行赎回，并在完成业务合并前向SEC提交要约收购文件。然而，如果法律要求对交易进行股东批准，或公司决定出于业务或法律原因获取股东批准，公司将根据代理规则与代理征求一起提供赎回，而不是根据要约收购规则进行。此外，每位公开股东均可选择赎回其公开股份，无论他们是否投票支持或反对该交易。如果公司与业务合并相关寻求股东批准，公司的发起人以及可能持有创始人股份（如注释5中定义的）的公司任何董事或高管（“初始股东”）以及承销商已同意 (a) 将其创始人股份、私人股份（如注释4中定义的）、作为承销佣金发行的股份（见注释6）以及在IPO期间或之后购买的任何公开股份投赞成票支持批准业务合并，以及 (b) 在股东投票批准或与拟议的业务合并相关的要约收购中，不转换任何股份（包括创始人股份）或向公司出售股份。

尽管如此，如果公司寻求业务合并的股东批准，且不根据要约收购规则进行赎回，根据其上市后修订并重述的公司章程，公开股东及其任何关联方或与该股东共同行动或作为“集团”（根据《1934年证券交易法》（修订版）第13条定义的“交易所法案”）的任何其他人，未经公司事先同意，将被限制赎回超过公开股份总数的15%或更多。

公司从其注册声明生效日起有12个月的时间完成其首次业务合并（“合并期”）。如果公司在合并期内无法完成首次业务合并，除非根据其上市后修订和重述的公司章程和细则延长该期限，否则公司将：(i) 停止所有运营，除非为清算目的；(ii) 尽快但不超过此后十个营业日内，按每股现金价格赎回公众股份，该价格等于当时信托账户中存款总额（包括信托账户中资金产生的利息，且未先前释放给公司用于支付税款的金额（最多可扣除10万美元的利息用于清算费用）），除以当时已发行的公众股份总数，该赎回将完全终止公众股东作为股东的权利（包括接收进一步清算分配的权利，如有），受适用法律约束；以及(iii) 在该赎回后尽快，根据剩余股东和董事会的批准，清算并解散公司，且在每种情况下均受开曼群岛法律规定的债权人索赔义务和其他适用法律要求的约束。

发起人、高管和董事已同意：(i) 放弃其在完成我们首次业务合并时对其初始股份、私人股份和公众股份的赎回权利；(ii) 放弃其在股东投票批准我们上市后修订和重述的公司章程和细则的修改时对其初始股份、私人股份和公众股份的赎回权利（a）修改我们与首次业务合并相关的赎回义务的内容或时间，或在我们未在完成窗口期内完成首次业务合并时赎回100%的公众股份，或（b）与股东权利或首次业务合并前活动的其他重大条款有关；(iii) 如果我们在完成窗口期内未能完成首次业务合并，放弃其初始股份和私人股份从信托账户获得清算分配的权利，尽管如果我们在规定的时间框架内未能完成首次业务合并，他们仍有权从信托账户获得其持有的任何公众股份的清算分配；以及(iv) 对他们持有的初始股份和私人股份以及在本次发行期间或之后购买的公众股份（包括在公开市场和私下协商交易中购买的股份，但不包括他们根据《交易法》第14e-5条要求购买的股份，这些股份不会投票支持批准业务合并交易）进行投票，以支持我们的首次业务合并。

为了保护信托账户中的金额，发起人已同意，如果第三方就向公司提供的服务或销售的产品，或公司已签署书面意向书、保密协议或其他类似协议或业务合并协议的潜在目标业务提出索赔，导致信托账户中的资金减少到低于（i）每股10.05美元或（ii）在信托账户清算之日实际持有的每股信托账户金额（如果由于信托资产价值减少而导致每股金额低于10.05美元，则为该金额），则发起人将对该公司负责，且仅限于该等责任。但该责任不适用于任何已签署放弃对信托账户中资金的所有权利的第三方或潜在目标业务（无论该放弃是否具有约束力），也不适用于公司对IPO承销商根据《证券法》规定的某些责任的赔偿责任。然而，公司并未要求发起人预留用于此类赔偿义务的资金，公司也未独立核实发起人是否有足够的资金来履行其赔偿义务，公司认为发起人仅有的资产是公司的证券。因此，公司无法保证发起人能够履行这些义务。

持续经营考虑因素

截至2026年8月31日，公司拥有现金270,975美元和营运资金218,245美元。公司已发生并预计将继续发生重大费用以完成首次业务合并。此外，公司目前有截至2027年4月27日（除非根据修订和重述的公司章程进行修改）的时间来完成其首次业务合并。如果公司未能在规定的时间内完成首次业务合并，公司将被要求停止所有运营，仅限于清算目的，赎回已发行的公众股份，并根据修订和重述的公司章程进行清算。

根据ASC 205-40《财务报表列报—持续经营》的规定，公司在评估持续经营考虑因素时，管理层已确定公司缺乏足够的财务资源以维持运营合理的时间段，该时间段被视为财务报表发布之日起的一年。无法保证公司筹集额外资本或完成首次业务合并的计划能在强制清算日期前成功。这些情况引发了对公司持续作为持续经营实体的能力的重大疑虑，直至首次业务合并完成或公司被要求清算的日期。随附的未经审计的财务报表未包含可能因该不确定性结果而产生的任何调整。

风险和不确定性

美国及全球的各种社会和政治情况（包括关税、美中贸易紧张关系以及其他关于美国和外国贸易、经济等政策实际和潜在变化的不确定性）可能会导致市场波动和经济不确定性加剧，影响美国及全球范围。

由于这些情况以及持续的全球冲突和/或未来可能发生的其他全球冲突，公司完成业务合并的能力，或公司最终完成业务合并的目标公司的运营，可能会受到重大不利影响。尽管持续冲突的持续时间和影响高度不可预测，但可能导致市场中断，包括商品价格大幅波动、信贷和资本市场以及供应链中断，以及针对美国公司的网络攻击增加。此外，任何由此产生的制裁都可能对全球经济和金融市场产生不利影响，并导致资本市场不稳定和流动性不足。财务报表未包含可能因这些不确定性结果而产生的任何调整。

注2 — 重要会计政策

列报基础

附带的未经审计的中期财务报表按照美国通用会计原则（“U.S. GAAP”）编制，并根据证券交易委员会（SEC）的规则和法规进行。未经审计的中期财务报表应与公司截至2026年2月28日的年度财务报表及包含在公司于2026年4月28日向SEC提交的招股说明书中的截至2026年2月28日的财务报表和相关附注一并阅读。根据证券交易委员会（SEC）关于中期财务报告的规则和法规，某些通常包含在按照GAAP编制的未经审计的中期财务报表中的信息或附注披露已被简化或省略。因此，它们不包含完整呈现财务状况、经营成果或现金流量所需的所有信息和附注。在管理层看来，未经审计的中期财务报表反映了所有调整，这些调整仅包括为公允列报所披露期间的余额和结果所需的正常经常性调整。截至2026年8月31日的三个月和六个月的中期结果不一定表明截至2027年2月28日可能获得的结果或任何未来期间的结果。

新兴成长公司地位

该公司是根据《1933年证券法》第2(a)节定义的“新兴成长公司”，（“证券法”），并根据《2012年促进我们的商业初创企业法案》（“JOBS法案”）进行了修改，它可以利用某些豁免条款，这些条款适用于其他非新兴成长公司的上市公司，包括但不限于无需遵守《萨班斯-奥克斯利法案》第404节的审计师鉴证要求、在定期报告和代理声明中减少有关高管薪酬的披露义务，以及免除对高管薪酬进行非约束性咨询投票和股东批准任何未经先前批准的黄金降落伞支付的要求。

此外，《JOBS法案》第102(b)(1)节规定，新兴成长公司可以免于遵守新的或修订的财务会计准则，直到私营公司（即那些未被宣布有效或未根据《交易法》注册证券类别的公司）被要求遵守新的或修订的财务会计准则。《JOBS法案》规定，公司可以选择退出延长的过渡期，并遵守适用于非新兴成长公司的要求，但任何此类退出选择都是不可撤销的。该公司已选择不退出该延长的过渡期，这意味着当一项准则被发布或修订，并且对上市公司和私营公司有不同的适用日期时，作为新兴成长公司的公司将可以在私营公司采用新修订的准则时采用该新修订的准则。这可能使该公司财务报表与其他非新兴成长公司或已选择退出使用延长过渡期的新兴成长公司的财务报表进行比较变得困难或不可能，因为可能使用不同的会计准则。

估计的使用

在按照美国公认会计原则编制这些未经审计的中期财务报表时，公司的管理层会做出影响财务报表中所报告的资产和负债金额以及在财务报表日期的或有资产和负债披露的估计和假设。

做出估计需要管理层进行重大判断。至少在合理可能的情况下，管理层在制定估计时考虑的在财务报表日期存在的状况、情况或环境的估计效果可能会因一个或多个未来确认事件而在近期发生变化。因此，实际结果可能与这些估计有显著差异。

现金及现金等价物

公司将购买时原始到期日为三个月或更短的短期投资视为现金等价物。截至2026年8月31日和2026年2月28日，公司现金分别为270,975美元和49,273美元。在两个期间内，公司均没有现金等价物。

托管账户中的投资

截至2026年8月31日和2026年2月28日，公司持有的信托账户中投资金额分别为109,332,247美元和0美元，这些投资由货币市场基金组成，仅投资于美国国债。公司持有的信托账户中的所有投资均被归类为交易性证券。交易性证券在每期报告期末按公允价值列示在资产负债表上。在信托账户中持有的投资的公允价值变动产生的收益和损失包含在附表中的信托账户投资利息收入中。信托账户中投资的估计公允价值通过可获得的市场信息确定。这些投资的公允价值通过使用活跃市场中相同资产的未调整报价的Level 1输入确定。

信用风险集中

可能使公司面临信用风险集中的金融工具包括现金及现金等价物，包括与金融机构持有的货币市场基金投资。这些余额可能超过适用的投资者保护计划的限额。货币市场基金投资受市场风险影响，并可能根据适用的证券投资者保护公司（SIPC）条款获得保护，但需符合适用的限额和条件。公司尚未在这些账户中遭受损失，管理层认为其不面临与这些账户相关的重大信用风险。

金融工具的公允价值

根据财务会计准则委员会（“FASB”）ASC 820《公允价值计量》的规定，属于金融工具的公司资产和负债的公允价值，近似于附带资产负债表中所列的账面金额，主要是由于其短期性质。

公司应用ASC 820，该准则建立了衡量公允价值的框架，并澄清了该框架内的公允价值定义。ASC 820将公允价值定义为退出价格，即在公司主要或最有利的市场中，在计量日市场参与者之间有序交易中，出售资产或转移负债所获得的价格。ASC 820建立的公允价值层级通常要求实体在衡量公允价值时最大化使用可观察输入，并最小化使用不可观察输入。可观察输入反映了市场参与者在定价资产或负债时会使用的假设，并基于来自独立于报告实体的来源的市场数据进行开发。不可观察输入反映了实体自身的假设，基于市场数据和实体对市场参与者在定价资产或负债时会使用的假设的判断，并应在最佳信息可用的情况下进行开发。

●

Level 1—在活跃市场交易所列出的未调整报价的资产和负债。公允价值计量的输入为可观察输入，例如活跃市场中相同资产或负债的报价。

●

公允价值计量的输入值是通过具有相似基础条款的近期交易资产和负债的价格，以及直接或间接的可观察输入值（如可在常用报价间隔中观察到的利率和收益曲线）确定的。

●

公允价值计量的输入值是不可观察的输入值，例如在资产或负债几乎没有或没有市场数据时的估计值、假设和估值技术。

发行成本

该公司遵守FASB ASC第340-10-S99-1节“其他资产和递延成本-SEC材料”（“ASC 340-10-S99”）和SEC工作人员会计公报第5A节“发行费用”的要求。递延发行成本为1,788,127美元，主要包括580,500美元的承销费用和1,207,627美元与IPO和超额配售选择权直接相关的法律和其他费用，并在IPO和超额配售选择权完成后计入股东权益。

可能赎回的普通股

该公司根据ASC第480节“负债与权益的区分”（ASC 480）的指导对可能赎回的普通股进行核算。如果有的话，具有强制赎回权的普通股将被归类为负债工具，并按公允价值计量。有条件赎回的普通股（包括具有赎回权的普通股，这些赎回权在持有人控制之下，或在不完全由公司控制的不确定事件发生时可赎回）将被归类为临时权益。在其他所有时间，普通股将被归类为股东权益。根据ASC 480-10-S99，公司将可能赎回的普通股归类为永久权益之外，因为赎回条款不完全由公司控制。鉴于通过IPO和超额配售选择权发行的10,750,000股普通股与其他独立工具（即权利）一起发行，因此根据ASC 470-20确定的收益，被归类为临时权益的普通股的初始账面价值已进行分配。如果很可能该权益工具将变得可赎回，公司可以选择（i）从发行日期（或如果更晚，则从该工具很可能变得可赎回的日期）到该工具最早赎回日期期间，对赎回价值的变化进行累计，或（ii）立即确认赎回价值的变化，并在每个报告期末将该工具的账面金额调整为等于赎回价值。公司选择立即确认这些变化。初始累计和后续重新计量将被视为拟派股息（即，减少留存收益，或在没有留存收益的情况下，增加额外实收资本）。因此，截至2026年8月31日，可能赎回的普通股按赎回价值作为临时权益列示，不在公司资产负债表的股东权益部分。截至2026年8月31日，未审财务报表中反映的可能赎回的普通股在下表中进行了调节：

总收益	$	107,500,000
减去：
分配给公众股份权利的收益		(4,017,051	)
公众股份发行成本（扣除分配给权益的67,948美元私人股份发行成本）		(1,720,178	)
按赎回价值调整账面价值的增值		6,274,730
加上：
按赎回价值重新计量账面价值（信托账户利息）		1,294,747
2026年8月31日可赎回普通股	$	109,332,247

权利会计

该公司根据ASC 480和ASC 815中的具体条款和适用的权威指南，将权利归类为权益类或负债类工具。评估考虑是否根据ASC 480，权利是独立的金融工具，是否根据ASC 480符合负债的定义，以及权利是否符合ASC 815下的权益分类的所有要求，包括权利是否与公司自身的普通股挂钩，以及权利持有人是否可能在公司无法控制的情况下要求“净现金结算”等其他权益分类条件。这种评估需要运用专业判断，并在权利发行时以及权利存续期间每个后续季度末进行。

对于符合权益分类所有标准的已发行或修改的权利，这些权利在发行时必须作为权益的一部分进行记录。对于不符合权益分类所有标准的已发行或修改的权利，这些权利必须在发行日以初始公允价值作为负债进行记录，并在之后的每个资产负债表日进行记录。权利估计公允价值的变化在运营报表中作为非现金收益或损失进行确认。

由于IPO和私募发行的权利符合ASC 815下的权益分类标准，因此这些权利被归类为权益。

每股净收入

该公司遵守FASB ASC 260，每股收益的会计和披露要求。未经审计的简要损益表按照每股净收益（损失）的两层法，列示了可赎回股份的净收益（损失）和不可赎回股份的净收益（损失），因为根据ASC 480-10-S99的指导，可赎回股份的赎回不是按公允价值进行的。每股普通股的净收益（损失）是通过将净收益（损失）除以当期流通的加权平均普通股数计算得出的。公司选择将可赎回股份账面价值调整中反映超过公允价值赎回的部分视为股息。因此，每类普通股可分配的收益或损失不调整账面价值至赎回价值的增值。

稀释后每股普通股净收入（亏损）的计算不考虑与首次公开募股及超额配售选择权相关的权利的影响，因为行使这些权利取决于未来事件的发生。截至2026年8月31日，公司没有任何可能被行使或转换为普通股并参与公司收益的稀释性证券或其他合同。因此，对于所列期间，稀释后每股普通股净收入与基本每股普通股净收入相同。

在未审合并损益表中列示的每股净收入（亏损）是基于以下内容：

对于

截至8月31日的三个月

截至8月31日

对于

截至8月31日的六个月

截至8月31日

2026

2025

2026

2025

净收入（亏损）

711,573

(16,366

)

933,250

(61,790

)

	截至8月31日的三个月截至8月31日 2026		截至8月31日的三个月截至8月31日 2025
	Class A 可赎回普通股股		Class A 和 Class B 不可赎回普通股股			Class A 可赎回普通股股		Class B 不可赎回普通股股 ⁽¹⁾
基本和稀释每股普通股净收入（亏损）
分子：
净收入（亏损）的分配	$	543,621		$	167,953		$	-	$	(16,366	)

分母：
基本和稀释加权平均普通股 outstanding		10,750,000			3,321,237			-		2,500,000
基本和稀释每股普通股净收入（亏损）	$	0.05		$	0.05		$	-	$	(0.01	)

	截至8月31日的六个月截至8月31日 2026		截至8月31日的六个月截至8月31日 2025
	Class A 可赎回普通股股		Class A 和 Class B 不可赎回普通股股			Class A 可赎回普通股股		Class B 不可赎回普通股股 ⁽¹⁾
基本和稀释每股普通股净收入（亏损）
分子：
净收入（亏损）的分配	$	643,412		$	289,839		$	-	$	(61,790	)

分母：
基本和稀释加权平均普通股 outstanding		7,220,109			3,252,453			-		2,500,000
基本和稀释每股普通股净收入（亏损）	$	0.09		$	0.09		$	-	$	(0.02	)

(1)	Class B 普通股已追溯调整，以反映2026年2月相当于0.388889的股票股息，使创始人股份增加至2,875,000股。包括375,000股普通股，如果承销商未全部或部分行使超额配售选择权，则可能被没收（参见注释5）。“

	由于承销商于2026年5月5日部分行使了其购买750,000单位的超额配售选择权，187,500股被没收。

所得税

公司按照ASC 740 所得税（“ASC 740”）核算所得税。ASC 740 要求确认递延税资产和负债，以反映财务报表和税务基础的资产和负债之间的差异的预期影响，以及从税务亏损和税务抵免结转中预期获得的未来税务利益。ASC 740 还要求在很可能无法实现全部或部分递延税资产时建立估值准备金。

ASC 740 还明确了企业在财务报表中对所得税确认的不确定性会计处理，并规定了在税务申报中采取或预期采取的税务立场在财务报表中确认和计量的确认门槛和计量程序。要确认这些利益，税务立场必须在税务当局审查时更有可能得到维持。ASC 740 还提供了关于终止确认、分类、利息和罚款、中期期间的会计处理、披露和过渡的指导。根据公司的评估，已得出结论，公司财务报表中无需确认任何重大税务不确定性立场。

公司将与未确认税务利益相关的应计利息和罚款作为所得税费用确认。截至2026年8月31日，没有未确认的税务利益，也没有为利息和罚款计提任何金额。公司目前未发现任何可能产生重大支付、计提或与其立场出现重大偏差的问题。

开曼群岛政府目前对收入未征收任何税收。根据开曼群岛的所得税法规，不对公司征收所得税。因此，所得税未反映在公司的财务报表中。

最近的会计准则

2025年12月，FASB发布了ASU 2025-11《中期报告（主题270）：狭义改进》（“ASU 2025-11”），以改进中期报告的指导，并明确该指导适用的情况。ASU 2025-11提供了一份全面的所需披露清单，并要求实体披露自上次年度报告期以来对实体有重大影响的事件。ASU 2025-11对公众企业而言，适用于2027年12月15日之后开始的年度报告期间内的中期报告期间；对非公众企业而言，适用于2028年12月15日之后开始的年度报告期间内的中期报告期间。允许提前采用。管理层目前正在评估ASU 2025-11，以确定其对本公司披露的影响。

2024年11月4日，FASB发布了ASU No. 2024-03《费用分解披露》（“ASU 2024-03”）。ASU 2024-03修改了ASC 220《综合收益》，以扩大损益表费用披露，并要求在财务报表附注中披露有关某些成本和费用的指定信息。ASU 2024-03要求在2026年12月15日之后开始的财年中采用，允许提前采用。公司目前正在评估采用该标准对其财务报表的潜在影响。

管理层认为，任何最近发布但尚未生效的会计准则，如果目前被采用，不会对公司的未审简要财务报表产生重大影响。

注释3 — 首次公开募股

2026年4月29日和2026年5月5日，公司分别以每单位10.00美元的价格出售了10,000,000个单位和750,000个期权单位。每个单位包括一股面值为每股0.0001美元的普通股和一个权利（“公众权利”）。每个公众权利使持有者在公司首次业务合并完成后有权转换为四分之一（1/4）股普通股。根据第7号注释中的披露，公司在权利转换时不会发行零碎股份。

注释4 — 私人认购

在IPO和超额配售选择权关闭的同时，发起人分别以每份私人单位10.00美元的价格购买了总计210,000份私人单位和7,800份私人单位，总购买价格为2,178,000美元。

每份私人单位包括一股普通股（“私人股份”）和一个权利（“私人权利”）。在完成业务合并后，每个私人权利将转换为四分之一（1/4）股普通股。私人单位的收益已加入IPO的收益，存入信托账户。如果公司在组合期限内未能完成业务合并，私人单位的收益将用于资助公众股份的赎回（受适用法律要求的限制），而私人单位及所有底层证券将变得一文不值。私人认购单位及所有底层证券在（1）公司首次业务合并完成后180天，以及（2）在我们完成清算、合并、股份交换或其他类似交易后，我们股东有权将其股份兑换为现金、证券或其他财产的日期之前，不得转让、分配或出售，但受某些例外情况的限制。

注释5 — 关联方交易

创始人股份

2025年2月8日，公司向发起人发行了2,070,000股普通股（“创始人股份”），总对价为25,000美元，或约每股0.0121美元。2026年2月，随着IPO规模的扩大，公司宣布了一项股票股息，相当于0.388889股，使内部人士股份增加至2,875,000股。

创始人股份与IPO中出售的单位中包含的普通股相同，创始人股份的持有者与公众股东具有相同的股东权利，除非（i）创始人股份受到某些转让限制，如下面更详细地描述的那样，以及（ii）公司的赞助商、高管和董事已与公司签订了一份信函协议，根据该协议，他们同意（A）在完成其首次业务合并时，放弃其对创始人股份、私募股份和公众股份的赎回权，以及（B）如果公司在其注册声明生效之日起12个月内未能完成其首次业务合并，则放弃其从信托账户中获得清算分配的权利，针对创始人股份和私募股份，尽管如果他们在公司未能在该时间段内完成其首次业务合并的情况下，他们仍有权从信托账户中获得其持有的任何公众股份的清算分配，以及（iii）创始人股份和私募股份受登记权的约束。如果公司将其首次业务合并提交给其公众股东进行投票，根据与公司签订的信函协议条款，赞助商、高管和董事已同意（以及他们的允许受让人也将同意）投票支持他们持有的创始人股份和私募股份以及在IPO期间或之后购买的任何公众股份，以支持公司的首次业务合并。

在某些有限例外情况下，创始人股份在公司首次业务合并完成后的180天内，或在公司首次业务合并后的至少90天开始的任何30个交易日周期内，公司普通股的收盘价连续20个交易日达到或超过12.00美元/股（经股份拆分、股份资本化、重组、资本重组等调整）之前，不得转让、转让或出售（除非转让给某些允许的受让人）。

Promissory Note — Related Party

On February 8, 2025, the Sponsor agreed to loan the Company up to an aggregate amount of $200,000 to be used, in part, for transaction costs incurred in connection with the IPO (the “Promissory Note”). The Promissory Note is unsecured, interest-free and due on the earlier of: (i) December 31, 2025, or (ii) the date on which the Company consummates an initial public offering of its securities, or (iii) the date on which the Company determines to not proceed with such initial public offering. The promissory notes are unsecured, interest-free and due on the date on which the Company closes the IPO. The total outstanding balance of $200,000 under the promissory notes were repaid on April 30, 2026, out of the offering proceeds not held in the Trust Account. As of August 31, 2026 and February 28, 2026, the Company had $0 and $200,000 outstanding loan balance under the Promissory Note, respectively.

Working Capital Loans

In addition, in order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor, the Company’s officers and directors, or their affiliates/designees may, but are not obligated to, loan the Company funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. If the Company completes the initial Business Combination, it will repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such working capital loans (“Working Capital Loans”) may be convertible into private units, at a price of $10.00 per unit at the option of the lender, upon consummation of its initial Business Combination. The units would be identical to the Private Placement Units.

As of August 31, 2026 and 2025, the Company had no borrowings under the Working Capital Loans.

Administrative Services Agreement

The Company entered into an Administrative Services Agreement with the Sponsor commencing on the effective date of the registration statement of the initial public offering through the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation, to pay the Sponsor a total of $10,000 per month for office space and administrative and support services. The Company incurred $30,000 and $40,000 for the three and six months ended August 31, 2026, respectively, of which $40,000 was unpaid and accrued in the accounts payable and accrued expenses on the accompanying unaudited condensed balance sheet as of August 31, 2026.

Note 6 — Commitments and Contingencies

Registration Rights

The holders of the Founder Shares issued and outstanding on the date of the Registration Rights Agreement , as well as the holders of the Private Units, the Representative Shares, and any shares of the Company’s insiders, officers, directors or their affiliates may be issued in payment of working capital loans and extension loans made to the Company (and any shares of ordinary shares issuable upon conversion of the underlying the private rights), will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of the registration statement. The holders of a majority of these securities are entitled to make up to two demands that we register such securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing three months prior to the date on which these shares of ordinary shares are to be released from trust. The holders of a majority of the private units and units issued in payment of working capital loans made to us can elect to exercise these registration rights at any time commencing on the date that the Company consummate an initial business combination. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of an initial business combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Table of Contents

Underwriting Agreement

The Company has granted Alliance Global Partners (“AGP”), the representative of the underwriters, a 45-day option from the date of this prospectus to purchase up to 1,500,000 additional Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions. The over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and is accounted for as a liability pursuant to ASC 480. The value of the over-allotment option was estimated to be $135,060 as of April 29, 2026. The underwriters exercised the over-allotment option, which was closed on May 5, 2026, as such, there was no liability accrued on the balance sheet as of August 31, 2026.

The underwriters were paid a cash underwriting discount of 0.54% of the gross proceeds of the IPO and over-allotment option, or $580,500. Additionally, upon the closing of the IPO, the Company issued to the underwriters 416,037 of Class A ordinary shares that equal to 1.25% of the gross proceeds of the Units and Option Units divided by four (“Representative Shares”).

Representative Shares

The Company issued the underwriters 416,037 ordinary shares as representative compensation. The underwriter has agreed that Representative Shares shall be subject to the lock-up provisions of not transferring its Representative Shares (other than permitted transferees) until six months after the completion of an initial Business Combination. In addition, the underwriter has agreed with respect to the Representative Shares, (i) to vote for at a shareholder meeting to approve a Business Combination or any amendment to the Company’s post-offering amended and restated memorandum and articles of association to modify the substance or timing of its obligation to allow redemptions in connection with a Business Combination, (ii) to waive their redemption rights with respect to such shares until the completion of the Business Combination, in connection with the completion of the Company’s initial Business Combination or a shareholder vote to approve an amendment to our post-offering amended and restated memorandum and articles of association to modify the substance or timing of the its obligation to allow redemptions in connection with a Business Combination, and (iii) to waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete its initial Business Combination within the timeline provided in the Company’s post-offering amended and restated memorandum and articles of association.

The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the commencement of sales in the IPO pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the effective date of the registration statement of which the IPO forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration statement of which the IPO forms a part except to any underwriter and selected dealer participating in the IPO and their officers, partners, registered persons or affiliates.

The underwriters have agreed (i) to waive their redemption rights with respect to such shares in connection with the completion of its initial Business Combination, and (ii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete its initial Business Combination within 12 months from the closing of the IPO.

Note 7 — Shareholders’ Equity

Preferred Shares — The Company is authorized to issue a total of 10,000,000 preferred shares at par value of $0.0001 each. As of August 31, 2026 and 2025, there were no preferred shares issued or outstanding.

Class A Ordinary Shares — The Company is authorized to issue a total of 480,000,000 Class A ordinary shares at par value of $0.0001 each. As of August 31, 2026 and 2025, there were 633,837 and none Class A ordinary shares issued or outstanding, respectively, excluding 10,750,000 Class A ordinary shares subject to possible redemption.

Class B Ordinary Shares — The Company is authorized to issue a total of 10,000,000 ordinary shares at par value of $0.0001 each. On February 8, 2025, the Company issued 2,070,000 Class B ordinary shares to its Sponsor for $25,000, or approximately $0.012 per share. In February 2026, in connection with an increase in the size of the IPO, the Company declared a stock dividend equal to 0.388889 increasing the number of insider shares to 2,875,000 shares (of which an aggregate of up to 375,000 shares subject to forfeiture if the over-allotment option is not exercised by the underwriters in full). As of August 31, 2026 and 2025, there were 2,687,500 and 2,875,000 Class B ordinary shares issued and outstanding; shares were restated to reflect the stock dividend of initial founder shares.

Table of Contents

The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like. In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 25% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment option and excluding the Class A ordinary shares underlying the private units issued to the sponsor), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business combination and any private placement-equivalent units issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination; provided that such conversion of initial shares will never occur on a less than one-for-one basis.

Holders of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the post-offering amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the post-offering amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company is generally required to approve any matter voted on by our shareholders. Approval of certain actions requires a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the post-offering amended and restated memorandum and articles of association, such actions include amending our post-offering amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following our initial business combination, the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). Holders of Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions of the post-offering amended and restated memorandum and articles of association may only be amended if approved by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company.

Rights — As of August 31, 2026, there were 10,750,000 Public Rights and 217,800 Private Rights included in the Units outstanding. Each holder of a right will receive one-fourth (1/4) of one ordinary share upon consummation of a Business Combination, even if the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued upon conversion of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a Business Combination, as the consideration related thereto has been included in the Unit purchase price paid for by investors in the IPO and over-allotment option. If the Company enters into a definitive agreement for a Business Combination in which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per ordinary share consideration the holders of the ordinary shares will receive in the transaction on an as-converted into ordinary shares basis and each holder of a right will be required to affirmatively convert its rights in order to receive one share underlying each right (without paying additional consideration). The shares issuable upon conversion of the rights will be freely tradable (except to the extent held by affiliates of the Company).

Table of Contents

If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of a Business Combination. Additionally, in no event will the Company be required to net cash settle the rights. Accordingly, the rights may expire worthless.

Note 8 — Fair Value Measurements

The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of August 31, 2026, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

August 31,

2026

Quoted

Prices in

Active Markets

(Level 1)

Significant

Other

Observable

Inputs

(Level 2)

Significant

Other

Unobservable

Inputs

(Level 3)

Assets

Investments held in Trust Account

109,332,247

Note 9 — Segment Information

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company has adopted the guidance in ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, in the accompanying financial statements.

The Company’s chief operating decision maker has been identified as the Chief Financial Officer (“CODM”), who reviews the assets, operating results and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment. The CODM reviews the position of total assets available to assess if the Company has sufficient resources available to discharge its liabilities.

When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

	For the Three Months Ended August 31,		For the Six Months Ended August 31,
	2026		2025			2026		2025
General and administrative expenses	$	259,473		$	17,250		$	365,491	$	63,233
Interest earned on investments held in Trust Account	$	967,381		$	-		$	1,294,747	$	-

	As of August 31,
	2026		2025
Cash and cash equivalents	$	270,975		$	49,273
Investments held in Trust Account	$	109,332,247		$	-

Table of Contents

The key measures of segment profit or loss reviewed by the CODM are general and administrative expenses and interest earned on investments held in Trust Account. General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination period. General and administrative expenses include audit expenses, legal expenses, insurance expenses, and trust service expenses, none of which are deemed to be significant segment expenses and are reviewed in aggregate to ensure alignment with budget and contractual obligations. Interest earned on investments held in Trust Account are reviewed to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement.

The CODM also reviews the position of total assets available with the Company to assess if the Company has sufficient resources available to discharge its liabilities.

Note 10 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date when these financial statements were issued. Based on this review, the Company identified the following subsequent events that would require adjustment or disclosure in the unaudited condensed financial statements.

Business Combination

On September 3, 2026, the Company entered into an Agreement and Plan of Merger and Business Combination Agreement (the “Business Combination Agreement”) with NT1 Pty Ltd (“NT1”) and certain other parties. Pursuant to the Business Combination Agreement, the shareholders of NT1 will transfer all of the issued and outstanding shares of NT1 to a newly formed acquisition entity (“Purchaser”) in exchange for 50,000,000 shares of Purchaser, representing aggregate consideration of $500 million based on a deemed value of $10.00 per share. The consideration is subject to potential adjustment based on an independent valuation report and an independent technical report, subject to the mutual written agreement of the parties.

Following the acquisition of NT1, a merger subsidiary will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of Purchaser. At the closing, each outstanding ordinary share of the Company, other than treasury shares and dissenting shares, will be converted into the right to receive one share of Purchaser, and each outstanding unit and right of the Company will be converted into securities of Purchaser having substantially equivalent terms.

Immediately following the closing, Purchaser’s board of directors is expected to consist of five directors, including at least three independent directors. In addition, Purchaser will adopt an equity incentive plan providing for awards representing up to 10% of Purchaser’s fully diluted capitalization immediately following the closing.

The consummation of the Business Combination is subject to customary closing conditions, including approval by the Company’s shareholders, required governmental and regulatory approvals, applicable antitrust and Australian foreign investment approvals, delivery of required financial statements and other customary closing conditions. The transaction is currently expected to close following satisfaction or waiver of the applicable closing conditions, but there can be no assurance that the Business Combination will be consummated.

The Business Combination Agreement may be terminated under specified circumstances, including by mutual consent, certain uncured breaches, failure to consummate the transaction by June 30, 2027 (or such later date as agreed by the parties), certain governmental prohibitions, or failure to obtain the required shareholder approval. Under specified circumstances involving a material breach, the breaching party is required to pay a $500,000 breakup fee plus certain reasonable and documented transaction expenses.

The Business Combination is subject to a number of conditions and uncertainties, and no assurance can be given that the transaction will be completed on the terms described above or at all.

Table of Contents

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

References to the “Company,” “our,” “us” or “we” refer to Plutonian Acquisition Corp II. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the unaudited financial statements and the notes related thereto. Certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of many factors.

Special Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact included in this Form 10-Q including, without limitation, statements in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” regarding the Company’s financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek” and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management’s current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of the Company’s final prospectus for its initial public offering filed with the SEC on April 28, 2026 (the “Prospectus”). The Company’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Overview

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We intend to effectuate our initial business combination using cash from the proceeds of the Initial Public Offering (“IPO” as defined below), and the private placement of the private placement units, the proceeds of the sale of our securities in connection with our initial business combination, our shares, debt or a combination of cash, stock and debt. We expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete an initial business combination will be successful.

Table of Contents

Recent Developments

Business Combination

The Business Combination is subject to a number of conditions and uncertainties, and no assurance can be given that the transaction will be completed on the terms described above or at all.

Results of Operations

We have neither engaged in any operations nor generated any revenues to date. Our only activities from November 1, 2024 (inception) through August 31, 2026, were organizational activities and those necessary to consummate the IPO, and subsequent to the IPO, identifying a target company for an initial business combination. We do not expect to generate any operating revenues until after the completion of our initial business combination.

We expect to generate non-operating income in the form of interest income on investments held in the Trust Account after the IPO. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching for, and completing, a Business Combination.

For the three months ended August 31, 2026, we had net income of $711,573, which consisted of interest income of $971,046, offset by general and administrative expenses of $259,473. For the three months ended August 31, 2025, we had net loss of $16,366, which consisted of general and administrative expenses of $17,250, offset by interest income of $884.

For the six months ended August 31, 2026, we had net income of $933,250, which consisted of interest income of $1,298,741, offset by general and administrative expenses of $365,491. For the six months ended August 31, 2025, we had net loss of $61,790, which consisted of general and administrative expenses of $63,233, offset by interest income of $1,443.

Table of Contents

Liquidity, Capital Resources and Going Concern Consideration

On April 29, 2026, we consummated our IPO of 10,000,000 units (the “Units”), at $10.00 per Unit generating gross proceeds of $100,000,000. Simultaneously with the closing of the IPO, the Company consummated a private placement (the “Private Placement”) in which the Sponsor purchased an aggregate of 210,000 private units (the “Private Units”) at a price of $10.00 per Private Unit, generating total gross proceeds of $2,100,000.

On April 29, 2026, the underwriters of the Company, notified the Company of their partial exercise of the over-allotment option and purchased 750,000 additional units (the “Option Units”) at an offering price of $10.00 per Unit, generating total gross proceeds of $7,500,000. The over-allotment option closed on May 5, 2026. Simultaneously with the closing of the over-allotment option, the Company consummated the private placement to the Sponsor of an aggregate of 7,800 Private Units at a price of $10.00 per Private Unit, generating total gross proceeds of $78,000. As a result, the Company sold an aggregate of 10,750,000 Public Units and 217,800 Private Units.

We intend to use substantially all of the net proceeds of the IPO, over-allotment option and the private placement, including the funds held in the Trust Account, in connection with our initial business combination and to pay our expenses relating thereto. To the extent that our ordinary shares are used in whole or in part as consideration to effect our initial business combination, the remaining proceeds held in the Trust Account as well as any other net proceeds not expended will be used as working capital to finance the operations of the target business. Such working capital funds could be used in a variety of ways including continuing or expanding the target business’ operations, for strategic acquisitions and for marketing, research and development of existing or new products. Such funds could also be used to repay any operating expenses or finders’ fees which we had incurred prior to the completion of our initial business combination if the funds available to us outside of the Trust Account were insufficient to cover such expenses.

As of August 31, 2026, we had cash of $270,975 and a working capital of $218,245. The Company’s liquidity needs prior to the consummation of the IPO had been satisfied through a payment from the Sponsor of $25,000 for the Founder Shares and the loan under an unsecured promissory note from the Sponsor of $200,000. Subsequent to the consummation of the IPO, the Company expects that it will need additional capital to satisfy its liquidity needs beyond the net proceeds from the consummation of the IPO and the proceeds held outside of the Trust Account for paying existing accounts payable, identifying and evaluating prospective business combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Initial Business Combination. Although certain of the Company’s initial shareholders, officers and directors or their affiliates have committed to loan the Company funds from time to time or at any time, at whatever amount they deem reasonable in their sole discretion, there is no guarantee that the Company will receive such funds.

The Company has incurred and expects to continue to incur significant costs in pursuit of consummating an initial Business Combination. In addition, the Company currently has until April 27, 2027 (unless such period is extended by amending its Amended and Restated Memorandum and Articles of Association) to consummate its initial Business Combination. If the Company does not complete an initial Business Combination within the prescribed timeframe, the Company will be required to cease all operations except for the purpose of winding up, redeem the outstanding public shares, and liquidate in accordance with its Amended and Restated Memorandum and Articles of Association.

Table of Contents

In connection with the Company's assessment of going concern considerations in accordance with ASC 205-40, Presentation of Financial Statements—Going Concern, management has determined that the Company lacks the financial resources necessary to sustain operations for a reasonable period of time, which is considered to be one year from the date these financial statements are issued. There can be no assurance that the Company's plans to raise additional capital or to consummate an initial Business Combination will be successful before the mandatory liquidation date. These conditions raise substantial doubt about the Company's ability to continue as a going concern until the earlier of the consummation of an initial Business Combination or the date the Company is required to liquidate. The accompanying unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of August 31, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual Obligations

Promissory Note — Related Party

On February 8, 2025, the Company entered into a promissory note of an aggregate of $200,000 with the Sponsor. The Promissory Note is unsecured, interest-free and due on the earlier of: (i) December 31, 2025, or (ii) the date on which the Company consummates an initial public offering of its securities, or (iii) the date on which the Company determines to not proceed with such initial public offering. We repaid the outstanding balance of $200,000 to the Sponsor on April 30, 2026 after the closing of the IPO.

Administrative Services Agreement

Underwriting Agreement

The Company has granted Alliance Global Partners (“AGP”), the representative of the underwriters, a 45-day option from the date of this prospectus to purchase up to 1,500,000 additional Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions. The over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and is accounted for as a liability pursuant to ASC 480. The value of the over-allotment option was estimated to be $135,060 as of April 29, 2026. The underwriters exercised the over-allotment option on May 5, 2026, as such, there was no liability accrued on the balance sheet as of August 31, 2026.

Critical Accounting Policies and Estimates

The preparation of unaudited financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have not identified any critical accounting policies and estimates.

Table of Contents

Recent Accounting Standards

In December 2025, the FASB issued ASU 2025-11 Interim Reporting (Topic 270): Narrow Scope Improvements (“ASU 2025-11”), to improve the guidance for interim reporting and clarify when that guidance is applicable. The ASU 2025-11 provides a comprehensive list of required disclosures and also requires entities to disclose events since the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted. Management is currently evaluating ASU 2025-11 to determine its impact on the Company’s disclosures.

On November 4, 2024, the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (“ASU 2024-03”). ASU 2024-03 amends ASC 220, Comprehensive Income to expand income statement expense disclosures and require disclosure in the notes to the financial statements of specified information about certain costs and expenses. ASU 2024-03 is required to be adopted for fiscal years commencing after December 15, 2026, with early adoption permitted. The Company is currently evaluating the potential impact of adopting the standard on its financial statements.

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Off-Balance Sheet Arrangements; Commitments and Contractual Obligations; Quarterly Results

As of August 31, 2026, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations.

JOBS Act

On April 5, 2012, the JOBS Act was signed into law. The JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We will qualify as an “emerging growth company” and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.

Additionally, we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an “emerging growth company,” we choose to rely on such exemptions, we may not be required to, among other things, (i) provide an auditor’s attestation report on our system of internal controls over financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of our initial public offering or until we are no longer an “emerging growth company,” whichever is earlier.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not required for smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Table of Contents

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time period specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management including our Chief Executive Officer, Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Our Chief Executive Officer and Chief Financial Officer carried out an evaluation with the participation of management of the effectiveness of our disclosure controls and procedures as of the end of the quarter ended August 31, 2026, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that during the period covered by this report, our disclosure controls and procedures were effective.

Disclosure controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial and accounting officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the quarter ended August 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Inherent Limitations on Effectiveness of Internal Controls

A control system, no matter how well designed and operated, can provide only reasonable and not absolute assurance of achieving the desired control objectives. In reaching a reasonable level of assurance, management necessarily was required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs. In addition, the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

Table of Contents

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We may be subject to legal proceedings, investigations and claims incidental to the conduct of our business from time to time. We are not currently a party to any material litigation or other legal proceedings brought against us. We are also not aware of any legal proceeding, investigation or claim, or other legal exposure that has a more than remote possibility of having a material adverse effect on our business, financial condition or results of operations.

Item 1A. Risk Factors

As smaller reporting company we are not required to make disclosures under this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

The registration statement (the “Registration Statement”) for our IPO was declared effective on April 27, 2026. As previously disclosed on a Current Report on Form 8-K dated April 30, 2026, on April 29, 2026, Plutonian Acquisition Corp II (the “Company”) consummated the IPO of 10,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share, $0.0001 par value (“Public Share”) and one right (“Public Right”), with each Right entitling the holder to receive one-fourth (1/4) of one Class A Ordinary Share upon completion of an initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $100,000,000.

As previously disclosed on a Current Report on Form 8-K dated April 30, 2026, on April 29, 2026, simultaneously with the closing of the IPO, the Company consummated the private placement (“Private Placement”) with Plutonian Capital II LLC, the Company’s sponsor, of an aggregate of 210,000 private placement units (the “Private Placement Units”) at a price of $10.00 per Private Placement Unit, generating total proceeds of $2,100,000. The Private Placement Units are identical to the units sold in this offering except with respect to certain registration rights and transfer restrictions, as described in the Registration Statement. Additionally, such holders agreed not to transfer, assign or sell any of the Private Placement Units or underlying securities (except in limited circumstances, as described in the Registration Statement) until (1) one hundred and eighty (180) days after the completion of the Company’s initial Business Combination and (2) the date following the consummation of our initial Business Combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their shares for cash, securities, or other property. The holders were granted certain demand and piggyback registration rights in connection with the purchase of the Private Placement Units and the underlying securities.

Upon the closing of the IPO and the over-allotment option on April 29, 2026 and May 5, 2026, respectively, a total of $108,037,500 ($10.05 per Public Unit) from the net proceeds of the sale of the Public Units, Option Units, and the Private Units were deposited in a trust account established for the benefit of the Company’s public shareholders (the “Trust Account”) located in the United States with Continental Stock Transfer & Trust Company acting as trustee. The funds placed in the Trust Account will be invested only in U.S. government treasury bills, bonds or notes with a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 under the Investment Company Act and that invest solely in U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its income or other tax obligations, if any, the proceeds from the IPO and the private placement will not be released from the Trust Account until the earlier of the completion of a business combination or our liquidation. The proceeds held in the trust account may be used as consideration to pay the sellers of a target business with which the Company completes a business combination to the extent not used to pay converting shareholders. Any amounts not paid as consideration to the sellers of the target business may be used to finance the operations of the target business. The proceeds deposited in the Trust Account could become subject to the claims of the creditors, if any, which could have priority over the claims of the public shareholders.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

Table of Contents

Item 6. Exhibits

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

No.		Description of Exhibit
31.1		Certification of Chief Executive Officer (Principal Executive Officer) Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of Chief Financial Officer (Principal Financial and Accounting Officer) Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification of Chief Executive Officer (Principal Executive Officer) Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of Chief Financial Officer (Principal Financial and Accounting Officer) Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Table of Contents

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	PLUTONIAN ACQUISITION CORP II

Date: October 15, 2026	By:	/s/ Wei Kwang Ng
	Name:	Wei Kwang Ng
	Title:	Chief Executive Officer
		(Principal Executive Officer)

Date: October 15, 2026	By:	/s/ Xiao Cheng Peng
	Name:	Xiao Cheng Peng
	Title:	Chief Financial Officer
		(Principal Financial and Accounting Officer)

","original","zhKind","translation","complete",false,"PLUN","公司与财报","宏观与美联储","政策与监管","行业与主题","其他","市场观察","aihot","/items/fjh30cj6phutc9vvw4lvg40cj","https://www.sec.gov/Archives/edgar/data/2065661/000147793226006266/0001477932-26-006266-index.htm","rss-sec-xbrl","name","SEC · EDGAR 财务披露","rss","firstParty","iconUrl","/api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar&exp=1792368000&sig=7b6974b5a67903ec","iconSrcSet","/api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar-48&exp=1792368000&sig=85dc13f192a3fa85 48w, /api/img-proxy?u=https%3A%2F%2Fwww.sec.gov%2Fthemes%2Fcustom%2Fuswds_sec%2Fassets%2Fimg%2Ffavicons%2Fapple-touch-icon.png&mode=avatar-96&exp=1792368000&sig=7b2f7276301ea6d9 96w","changelogVersion","2026-10-01T08:00"]