StoneBridge Acquisition II Corporation

What they do

The company is a blank check company with no operations that has generated no operating revenue; all activity from inception through December 31, 2025 related to formation and its IPO. It holds proceeds in a trust account and generates non-operating interest income at the earliest only after completing an initial business combination. It intends to target international businesses that would benefit from valuation arbitrage by listing on a U.S. national securities exchange, focusing on Ecommerce, Fintech, SaaS, Renewable Energy, Mining, and IT and IT-Enabled Services in APAC and EMEA.

Revenue drivers

• Trust Account Interest Income — The only income source is interest earned on IPO proceeds held in the Trust Account; investments held in the Trust Account were $59,077,144 as of June 30, 2026.
• Initial Business Combination — No operating revenue will be generated until a business combination is completed; as of the 10-K filing the company had not selected any specific target.

Recent performance

For fiscal 2025, net income was $302,325 while operating cash flow was negative $313,525. As of June 30, 2026, total assets were $59.4 million, total liabilities were $65,452, and shareholder equity was $253,806. Cash and equivalents were $329,698 as of March 31, 2026. The company had not commenced operations as of December 31, 2025, with all activity related to formation and the IPO.

Strategy

Management raised $57,500,000 in gross IPO proceeds on October 1, 2025, selling 5,750,000 public units at $10.00 per unit. The company is searching for an initial business combination and intends to focus on Ecommerce, Fintech, SaaS, Renewable Energy, Mining, and IT and IT-Enabled Services, with a geographic focus on APAC and EMEA. It seeks targets that would benefit from valuation arbitrage by going public in the United States. The completion window runs 18 months from the IPO, extendable up to 24 months via two three-month extensions at the sponsor's election.

Risks

• No Target Identified — As of the 10-K filing, the company had not selected any specific business combination target and may never complete one.
• Public Shareholder Vote Structure — Founder share holders participate in any business combination vote, so a combination may be completed even if a majority of Class A Ordinary Shares do not approve.
• Initial Shareholder Ownership — Initial shareholders and management collectively own at least 25% of issued and outstanding Ordinary Shares, concentrating voting influence.
• No Operating History — The company had not commenced operations as of December 31, 2025 and will not generate operating revenue until at least after a business combination is completed.

Outlook

Management must complete an initial business combination within 18 months of the October 1, 2025 IPO, extendable up to 24 months at the sponsor's election. The company continues to search for a target in its identified verticals across APAC and EMEA. It has not yet announced any specific target or signed agreement toward a combination as of the latest filings.