Long Table Growth Corp. Issues Balance Sheet and Financial Statement as of June 5, 2026
Key Highlights for Investors
- Initial Public Offering (IPO) Successfully Completed: Long Table Growth Corp., a blank check company incorporated in the Cayman Islands, completed its IPO on June 5, 2026, raising gross proceeds of \$172,500,000. The IPO included the full exercise of the underwriters’ over-allotment option, totaling 17,250,000 units sold.
- Trust Account Funding: Following the IPO, approximately \$173,363,000 was placed in a U.S.-based Trust Account, equating to \$10.05 per unit. This account is invested in U.S. government treasury obligations or money market funds and is intended solely to facilitate a future business combination.
- Balance Sheet Overview:
- Total Assets: \$175,296,000
- Cash and Prepaid Expenses: \$1,933,000
- Cash Held in Trust Account: \$173,363,000
- Total Liabilities: \$10,517,000 (including accrued expenses, deferred compensation, underwriting and advisory fees)
- Shareholders’ Equity: \$(8,584,000) (reflecting the classification of Class A shares subject to possible redemption)
Detailed Financial Structure & Shareholder Implications
- Redemption Rights: All 17,250,000 Class A ordinary shares issued in the IPO contain a redemption feature. Investors have the right to redeem their shares for a pro rata portion of the Trust Account, initially anticipated to be \$10.05 per share plus any interest earned (net of taxes and up to \$100,000 for liquidation expenses). This is a key mechanism that protects investor capital in case a business combination is not completed.
- Business Combination Deadline: The company has 18 months (until December 5, 2027) to complete a business combination. If not completed within this window, shareholders will be able to redeem their shares, and all funds in the Trust Account will be returned to investors. Extensions are possible only via shareholder vote.
- Early Stage Risks: As an early stage and emerging growth company, Long Table Growth Corp. is subject to the risks typical of such entities, including the uncertainty of successfully completing a business combination.
- Founder Shares & Sponsor Structure: The Sponsor holds 5,750,000 Class B ordinary shares (Founder Shares), which will convert into Class A shares on a one-for-one basis upon completion of a business combination, with certain anti-dilution protections. These shares, along with private placement warrants, are subject to transfer restrictions and are not redeemable.
- Warrants Structure: A total of 12,225,000 warrants are outstanding, consisting of 8,625,000 Public Warrants and 3,600,000 Private Placement Warrants. Each whole warrant entitles the holder to purchase one Class A ordinary share at \$11.50 per share, with terms identical for both public and private placement warrants.
- Deferred Underwriting and Advisory Fees: \$5,175,000 each is due to the underwriter upon completion of the business combination, potentially impacting available cash and shareholder returns.
- Related Party Transactions: The Sponsor and key executives have provided loans and administrative services, with up to \$2,500,000 in loans convertible into warrants upon completion of a business combination.
- Lock-Up and Transfer Restrictions: Sponsor, officers, and directors are subject to a 180-day lock-up period post-IPO, restricting the sale or transfer of shares and warrants.
- Segment Reporting: The company currently operates as a single segment, with assets and expenses focused solely on facilitating a business combination.
- No Operating Revenues: The company has not commenced operations; all activity relates to formation, IPO, and preparation for a business combination. Interest income from the Trust Account is the only source of non-operating income.
- Accounting and Tax Status: As an exempted Cayman Islands entity, the company is not currently subject to income taxes in the Cayman Islands or the United States.
Potential Price-Sensitive Information & Shareholder Considerations
- Redemption Feature and Business Combination Deadline: The redemption rights, tight timeline for completing a business combination, and the large sum held in trust are critical factors that could significantly impact share price, especially as the deadline approaches or if an extension is sought.
- Deferred Underwriting and Advisory Fees: The substantial deferred fees may reduce the capital available for a business combination and shareholder returns, affecting the company’s attractiveness and value.
- Founder Shares Conversion & Anti-Dilution: The conversion and anti-dilution protections for founder shares could impact the equity structure post-business combination, potentially affecting public shareholder value.
- Warrants Structure: The terms and potential exercise of warrants could dilute existing shareholders and affect share price, especially if the company completes a business combination and warrants become exercisable.
- Risks Associated with Early Stage and Emerging Growth Companies: The uncertainty of identifying and completing a suitable business combination, and the lack of operating revenues, present risks that could make the share price volatile.
- Lock-Up Restrictions: The 180-day lock-up period on shares and warrants may constrain liquidity and affect trading dynamics in the short term.
- Indemnification Agreement: The Sponsor has agreed to indemnify the company against certain claims that could affect the Trust Account, providing some protection for shareholders but also highlighting potential risks.
Additional Details
- Accounting Policies: The company is classified as an “emerging growth company” and takes advantage of reduced reporting and compliance requirements, including delayed adoption of new accounting standards compared to other public companies.
- Offering Costs: Total offering costs amounted to \$5,948,000, allocated between warrants and redeemable shares, impacting equity structure.
- Registration Rights: Holders of Founder Shares, Private Placement Warrants, and certain other securities are entitled to registration rights, enabling future sales post-business combination.
- No Subsequent Events: As of June 11, 2026, no material subsequent events were identified that would impact the balance sheet.
Conclusion
Long Table Growth Corp.’s balance sheet and detailed financial statement highlight a strong capital position with significant funds held in trust, robust redemption rights for shareholders, and a clear deadline for completing a business combination. The structure of founder shares, warrants, deferred fees, and related party transactions are critical elements for investors to consider. As a blank check company, the share price will be highly sensitive to progress toward a business combination, the use of trust funds, and the terms of any merger or acquisition. Investors should closely monitor company announcements regarding potential targets, extensions, or business combination progress, as these will likely drive share value.
Disclaimer: This article is based on the financial statement and balance sheet issued by Long Table Growth Corp. as of June 5, 2026. It is intended for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. The company is an early stage blank check entity, and its shares may be subject to high volatility and significant risks.
