Cartesian Growth Co. II Extends Business Combination Period, Draws $150,000 from Note

Cartesian Growth Corporation II (NASDAQ:RENEU) recently announced the approval of the third one-month extension of the Business Combination Period, extending it to March 5, 2025. The company drew $150,000 from the unsecured promissory note in the principal amount of up to $2,400,000. This note, dated November 6, 2024, was issued by Cartesian Growth Corporation II in favor of CGC II Sponsor LLC.

As per the amended and restated memorandum and articles of association, CGC II Sponsor LLC, or its affiliates, will deposit these funds, termed as the “Extension Funds,” into the trust account established by Cartesian Growth Corporation II in connection with its initial public offering. This extension marks the third out of twelve one-month extensions permitted under the Articles.

The company emphasized that the extension was a strategic move in the context of the ongoing Business Combination Period. Such extensions afford Cartesian Growth Corporation II additional time to pursue and secure a potential initial business combination.

In a regulatory filing with the Securities and Exchange Commission (SEC), the company stated that this extension to the Business Combination Period aligns with its broader strategic objectives. The move reflects the company’s dedicated efforts towards identifying suitable business opportunities for an eventual merger or acquisition.

Investors and stakeholders are keenly observing Cartesian Growth Corporation II’s trajectory within the specified extension period, awaiting potential developments as the company navigates the dynamic landscape of business combinations.

This news comes as Cartesian Growth Corporation II continues to navigate the financial markets and explore avenues that align with its growth objectives within the specified time frame.

The company, as part of its commitment to transparency, took the necessary steps to communicate this development to its investors and affiliates, showcasing its dedication to compliance and adherence to regulatory requirements.

Please note that this article is based on the information provided in a Form 8-K filing with the SEC on January 31, 2025, by Cartesian Growth Corporation II (NASDAQ:RENEU).

It is advised to refer to the original document for precise details regarding this development in Cartesian Growth Corporation II’s operations and financial activities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cartesian Growth Co. II’s 8K filing here.

About Cartesian Growth Co. II

Cartesian Growth Corporation II does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in New York, New York.