Cartesian Growth Corporation II
RENEU
NASDAQ Global Market11.69
USD
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Cartesian Growth Corporation II
RENEU
(NASDAQ Global Market)
Recent
price
11.69
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Cartesian Growth Corporation II (RENEU) is a blank check company sponsored by an affiliate of Cartesian Capital Group LLC that seeks to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more high-growth businesses. The company offers no products or services beyond its securities traded on Nasdaq, which include units comprising one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50 per share; the shares (RENE); the warrants (RENEW); and private placement warrants held by its sponsor, CGC II Sponsor LLC, and underwriters Cantor Fitzgerald & Co. and Piper Sandler & Co. Incorporated as a Cayman Islands exempted company in 2021 and headquartered at 505 Fifth Avenue, 15th Floor, New York, New York, the company completed its initial public offering in May 2022, raising $230 million through 23 million units at $10 each, with $236.9 million placed in trust; it generates interest income on trust assets but has not commenced substantive operations or completed a business combination. Recent developments include multiple extensions of its business combination deadline, facilitated by sponsor funding. Shareholders approved a First Charter Amendment in November 2023 extending the original November 2023 deadline by up to 12 months to November 2024 via monthly $150,000 deposits into trust, drawing $1.8 million under a related promissory note; a Second Charter Amendment in November 2024 further extended to November 2025, with monthly payments escalating from $150,000 (or $0.03 per unredeemed public share) through May 2025 to $250,000 (or $0.05 per share) thereafter under a new unsecured promissory note up to $2.4 million. The sponsor provided a $4.6 million interest-free loan convertible to warrants at the IPO and additional convertible promissory notes totaling millions for working capital; as of March 2025, trust assets stood at $85.7 million after redemptions of over 15 million shares across amendments, leaving 7.25 million redeemable Class A shares outstanding, with ongoing sponsor deposits through May 2025. The company maintains an administrative services agreement with the sponsor and has issued non-interest-bearing notes for extensions, reflecting efforts to secure a target amid tight liquidity and accumulated deficit exceeding $20 million.