$RENE
Cartesian Growth Corp II

2023 Q4 Form 10-K Financial Statement

#000141057824000235 Filed on March 20, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.263M $2.032M
YoY Change 520.49% 196.68%
Operating Profit -$2.032M
YoY Change 196.68%
Interest Expense $2.717M $11.64M
YoY Change 51.5% 309.11%
% of Operating Profit
Other Income/Expense, Net $690.4K $13.47M
YoY Change -131.97% 140.02%
Pretax Income $2.144M $11.44M
YoY Change -476.77% 132.14%
Income Tax
% Of Pretax Income
Net Earnings $2.144M $11.44M
YoY Change -476.77% 132.14%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.09 $0.41
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.93K $50.93K
YoY Change -90.63% -90.63%
Cash & Equivalents $50.93K $50.93K
Short-Term Investments
Other Short-Term Assets $279.1K $279.1K
YoY Change -9.01% -9.01%
Inventory
Prepaid Expenses $279.1K
Receivables
Other Receivables
Total Short-Term Assets $330.0K $330.0K
YoY Change -61.19% -61.19%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $174.3M $174.3M
YoY Change -27.32% -27.32%
Other Assets
YoY Change
Total Long-Term Assets $174.3M $174.3M
YoY Change -27.32% -27.32%
TOTAL ASSETS
Total Short-Term Assets $330.0K $330.0K
Total Long-Term Assets $174.3M $174.3M
Total Assets $174.6M $174.6M
YoY Change -27.44% -27.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $1.231M $1.231M
YoY Change 726.65% 462.32%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $300.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.531M $1.531M
YoY Change 599.36% 599.37%
LONG-TERM LIABILITIES
Long-Term Debt $3.677M $3.677M
YoY Change 9.98% 9.98%
Other Long-Term Liabilities $2.162M $2.162M
YoY Change -43.49% -43.49%
Total Long-Term Liabilities $5.839M $5.839M
YoY Change -18.56% -18.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.531M $1.531M
Total Long-Term Liabilities $5.839M $5.839M
Total Liabilities $18.87M $18.87M
YoY Change -0.1% -0.1%
SHAREHOLDERS EQUITY
Retained Earnings -$18.54M
YoY Change 2.78%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$18.54M $155.7M
YoY Change
Total Liabilities & Shareholders Equity $174.6M $174.6M
YoY Change -27.44% -27.44%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $2.144M $11.44M
YoY Change -476.77% 132.14%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$472.7K -$922.7K
YoY Change 322.5% 9.47%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $77.14M $77.14M
YoY Change -132.56%
Cash From Investing Activities $77.14M $77.14M
YoY Change -132.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $77.44M
YoY Change -65.64%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -76.64M -76.71M
YoY Change 1532631.2% -132.19%
NET CHANGE
Cash From Operating Activities -472.7K -922.7K
Cash From Investing Activities 77.14M 77.14M
Cash From Financing Activities -76.64M -76.71M
Net Change In Cash 27.26K -492.7K
YoY Change -123.32% -190.63%
FREE CASH FLOW
Cash From Operating Activities -$472.7K -$922.7K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q4 us-gaap Notes Payable Noncurrent Related Party Type Extensible Enumeration
NotesPayableNoncurrentRelatedPartyTypeExtensibleEnumeration
http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList
http://fasb.org/us-gaap/2023#FairValueAdjustmentOfWarrants
CY2023Q1 us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList
http://fasb.org/us-gaap/2023#FairValueAdjustmentOfWarrants
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001889112
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
001-41378
CY2023 dei Entity Registrant Name
EntityRegistrantName
CARTESIAN GROWTH CORPORATION II
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
505 Fifth Avenue
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
15th Floor
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
New York
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10017
CY2023 dei City Area Code
CityAreaCode
212
CY2023 dei Local Phone Number
LocalPhoneNumber
461-6363
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023 dei Entity Shell Company
EntityShellCompany
true
CY2023Q2 dei Entity Public Float
EntityPublicFloat
245400000
CY2023 dei Auditor Firm
AuditorFirmId
688
CY2023 dei Auditor Name
AuditorName
Marcum LLP
CY2023 dei Auditor Location
AuditorLocation
Houston, TX
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 us-gaap Cash
Cash
50932
CY2022Q4 us-gaap Cash
Cash
543667
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
279102
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
306733
CY2023Q4 us-gaap Assets Current
AssetsCurrent
330034
CY2022Q4 us-gaap Assets Current
AssetsCurrent
850400
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
174252198
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
239745907
CY2023Q4 us-gaap Assets
Assets
174582232
CY2022Q4 us-gaap Assets
Assets
240596307
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1230978
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
148911
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
300000
CY2022Q4 rene Accrued Offering Costs
AccruedOfferingCosts
70000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1530978
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
218911
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
2162323
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
3826696
CY2023Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
3676685
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
3342932
CY2023Q4 rene Deferred Underwriting Fee Non Current
DeferredUnderwritingFeeNonCurrent
11500000
CY2022Q4 rene Deferred Underwriting Fee Non Current
DeferredUnderwritingFeeNonCurrent
11500000
CY2023Q4 us-gaap Liabilities
Liabilities
18869986
CY2022Q4 us-gaap Liabilities
Liabilities
18888539
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18540527
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18038714
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-18539952
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-18038139
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
174582232
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
240596307
CY2023 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
2032433
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
685056
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-2032433
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-685056
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1664373
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1706572
CY2023 rene Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
-166247
CY2022 rene Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
-1257068
CY2022 rene Transaction Costs Allocated To Warrant Liabilities
TransactionCostsAllocatedToWarrantLiabilities
195984
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
11642853
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
2845907
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13473473
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5613563
CY2023 us-gaap Net Income Loss
NetIncomeLoss
11441040
CY2022 us-gaap Net Income Loss
NetIncomeLoss
4928507
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
21273
CY2022 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
5927400
CY2022 rene Adjustments To Additional Paid In Capital Remeasurement For Ordinary Shares To Redemption Amount
AdjustmentsToAdditionalPaidInCapitalRemeasurementForOrdinarySharesToRedemptionAmount
28915319
CY2022 us-gaap Profit Loss
ProfitLoss
4928507
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-18038139
CY2023 rene Adjustments To Additional Paid In Capital Remeasurement For Ordinary Shares To Redemption Amount
AdjustmentsToAdditionalPaidInCapitalRemeasurementForOrdinarySharesToRedemptionAmount
11942853
CY2023 us-gaap Profit Loss
ProfitLoss
11441040
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-18539952
CY2023 us-gaap Profit Loss
ProfitLoss
11441040
CY2022 us-gaap Profit Loss
ProfitLoss
4928507
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
11642853
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
2845907
CY2022 rene Transaction Costs
TransactionCosts
195984
CY2023 rene Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
-166247
CY2022 rene Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
-1257068
CY2023 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1664373
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1706572
CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-27631
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
306733
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1082067
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
148911
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-922735
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-842878
CY2023 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
300000
CY2022 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
236900000
CY2023 rene Proceeds From Cash Withdrawn From Trust Account In Connection With Redemption
ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption
77436562
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
77136562
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-236900000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
225400000
CY2022 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
8900000
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
300000
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
77944
CY2022 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
216405
CY2023 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
500000
CY2022 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
4600000
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
70000
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
474994
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
77436562
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-76706562
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
238286545
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-492735
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
543667
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
543667
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50932
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
543667
CY2022 rene Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
11500000
CY2023 rene Remeasurement Of Ordinary Shares Subject To Possible Redemption
RemeasurementOfOrdinarySharesSubjectToPossibleRedemption
11942853
CY2022 rene Remeasurement Of Ordinary Shares Subject To Possible Redemption
RemeasurementOfOrdinarySharesSubjectToPossibleRedemption
28915319
CY2022 rene Deferred Offering Costs Included In Accrued Offering Costs
DeferredOfferingCostsIncludedInAccruedOfferingCosts
70000
CY2022Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
23000000
CY2022Q2 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
4600000
CY2023Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
150000
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.02
CY2023Q4 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
7129439
CY2023Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.86
CY2023Q4 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
77400000
CY2023Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
172400000
CY2023Q4 rene Extension Payment Deposited In Trust Account
ExtensionPaymentDepositedInTrustAccount
150000
CY2023Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
150000
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.02
CY2023 rene Public Share Price Per Share
PublicSharePricePerShare
10.30
CY2023 us-gaap Interest Expense Other
InterestExpenseOther
100000
CY2023 rene Public Share Price Per Share
PublicSharePricePerShare
10.30
CY2023 rene Public Share Price Per Share
PublicSharePricePerShare
10.30
CY2023Q4 us-gaap Cash
Cash
50932
CY2023Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
174252198
CY2023Q4 rene Working Capital
WorkingCapital
1200944
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of the financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p>
CY2023Q4 us-gaap Cash
Cash
50932
CY2022Q4 us-gaap Cash
Cash
543667
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The failures of Silicon Valley Bank and Signature Bank on March 10, 2023, raised significant concerns regarding potential risks to deposits at First Republic Bank (“FRB”), including the discretionary working capital account of the Company held at FRB (the “FRB WC Account”). On March 10, 2023, the Company and its management moved to protect the funds in the FRB WC Account by reducing the funds held within the FRB WC Account to $250,000 (the amount covered by FDIC deposit account insurance) and transferring (the “Protective Transfer”), for the benefit of the Company and its shareholders, an aggregate amount of $200,000 (the “At-Risk Funds”) to a bank account at FRB held by the Sponsor. In connection with the foregoing, the Company entered into a letter agreement with Sponsor pursuant to which, Sponsor agreed (i) that the transfer of the At-Risk Funds was effected solely as an accommodation in order to protect such funds on behalf of the Company and its shareholders, (ii) that the At-Risk Funds are the legal property of the Company in all respects, (iii) that Sponsor (x) will hold the At-Risk Funds as and until directed by the Company, (y) will disburse the At-Risk Funds only to or as directed by the Company upon the Company’s written instruction, and (z) has no direct control over the At-Risk Funds in any respect, (iv) not to charge any escrow or accommodation fee to the Company, and (v) to indemnify the Company and its shareholders, directors and officers from and against any losses suffered or incurred as a result of the transfer of the At-Risk Funds. On March 27, 2023, the Company opened a bank account at Customers Bank and on March 28, 2023, the Company directed the Sponsor to transfer the At-Risk Funds to such account. On July 5, 2023, the Company directed the Sponsor to return the At-Risk Funds to the Company’s operating account. As of December 31, 2023, there were no funds held at Customers Bank and the funds held at FRB were below the federally insured limit.</p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2023 rene Cash Deposits Transferred To Bank Account
CashDepositsTransferredToBankAccount
200000
CY2023Q4 us-gaap Customer Funds
CustomerFunds
0
CY2023 rene Offering Costs
OfferingCosts
16804728
CY2023 rene Offering Costs Charged To Shareholders Deficit
OfferingCostsChargedToShareholdersDeficit
16608744
CY2023 rene Offering Costs Charged To Operations
OfferingCostsChargedToOperations
195984
CY2023 rene Dissolution Expenses
DissolutionExpenses
100000
CY2022Q4 rene Gross Proceeds Of Ordinary Shares Subject To Possible Redemption
GrossProceedsOfOrdinarySharesSubjectToPossibleRedemption
230000000
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
77436562
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2023 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Derivative Financial Instruments</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging – Contracts in Entity’s Own Equity” (“ASC 815-40”). The Company’s derivative instruments are recorded at fair value on the balance sheet with changes in the fair value reported in the statement of operations. Derivative assets and liabilities are classified on the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</p>
CY2023 rene Percentage Of Proceeds From Share Issuances
PercentageOfProceedsFromShareIssuances
0.60
CY2021Q4 us-gaap Sponsor Fees
SponsorFees
25000
CY2021Q4 rene Price Per Share Unit
PricePerShareUnit
0.004
CY2021Q4 rene Assets Tangible And Intangible
AssetsTangibleAndIntangible
0
CY2021Q4 rene Percentage Of Founder Shares
PercentageOfFounderShares
0.20
CY2023 rene Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdTradingDays
20
CY2023 rene Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Consecutive Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdConsecutiveTradingDays
30
CY2023 rene Threshold Period After Business Combination In Which Specified Trading Days Within Any Specified Trading Day Period Commences
ThresholdPeriodAfterBusinessCombinationInWhichSpecifiedTradingDaysWithinAnySpecifiedTradingDayPeriodCommences
P150D
rene Office Space Monthly Rent
OfficeSpaceMonthlyRent
10000
CY2023Q4 rene Extension Payment Deposited In Trust Account
ExtensionPaymentDepositedInTrustAccount
150000
CY2023Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
150000
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.02
CY2023Q4 rene Working Capital Loan
WorkingCapitalLoan
1500000
CY2023 rene Price Per Warrant
PricePerWarrant
1.00
CY2023 rene Number Of Demands Eligible Security Holder Can Make
NumberOfDemandsEligibleSecurityHolderCanMake
3
CY2023 rene Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Stock Price Trigger
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationStockPriceTrigger
12.00
CY2023 rene Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdTradingDays
20
CY2023 rene Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Consecutive Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdConsecutiveTradingDays
30
CY2023 rene Threshold Period After Business Combination In Which Specified Trading Days Within Any Specified Trading Day Period Commences
ThresholdPeriodAfterBusinessCombinationInWhichSpecifiedTradingDaysWithinAnySpecifiedTradingDayPeriodCommences
P150D
CY2023 rene Period After Completion Of Initial Business Combination
PeriodAfterCompletionOfInitialBusinessCombination
P30D
CY2023 us-gaap Legal Fees
LegalFees
1100000
CY2022 us-gaap Legal Fees
LegalFees
100000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023 us-gaap Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
0.20
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
16566666
rene Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Initial Measurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisInitialMeasurement
5533268
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-680330
rene Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3 To Level1
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3ToLevel1
-2750475
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2102463
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-936807
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1165656
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0

Files In Submission

Name View Source Status
0001410578-24-000235-index-headers.html Edgar Link pending
0001410578-24-000235-index.html Edgar Link pending
0001410578-24-000235.txt Edgar Link pending
0001410578-24-000235-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tmb-20231231.xsd Edgar Link pending
tmb-20231231x10k.htm Edgar Link pending
tmb-20231231xex31d1.htm Edgar Link pending
tmb-20231231xex31d2.htm Edgar Link pending
tmb-20231231xex32d1.htm Edgar Link pending
tmb-20231231xex97.htm Edgar Link pending
tmb-20231231_def.xml Edgar Link unprocessable
tmb-20231231_lab.xml Edgar Link unprocessable
tmb-20231231_pre.xml Edgar Link unprocessable
tmb-20231231x10k_htm.xml Edgar Link completed
tmb-20231231_cal.xml Edgar Link unprocessable