Corner Growth Acquisition Corp. 2 is a Cayman Islands-based SPAC established in 2021, primarily focused on merging with tech companies in the U.S. and developed countries, with no operating revenue or income to date.

# Company Summary: Corner Growth Acquisition Corp. 2

**Overview:**  
Corner Growth Acquisition Corp. 2 is a Cayman Islands exempted company established in February 2021. Its primary purpose is to act as a blank check company, seeking to effect a business combination with one or more target businesses, primarily within the technology industry in the United States and other developed countries.

**Business Model and Activities:**  
- No operating revenues to date.  
- Focused on identifying, evaluating, and merging with private or public target businesses in various industries, especially technology.  
- Engages in extensive due diligence, including management meetings, document reviews, site visits, and industry research, to evaluate potential targets.  
- Has generated no operating income prior to executing a business combination.

**Recent Corporate Actions and Transitions:**  
- Completed an initial public offering (IPO) on June 21, 2021, of 18.5 million units at $10.00 each, raising gross proceeds of $185 million.  
- The IPO units included one Class A ordinary share and one-third of a redeemable warrant; warrants are exercisable at $11.50.  
- A private placement of 4.95 million warrants at $1.50 each was also completed, raising approximately $7.425 million.  
- The proceeds are held in a Trust Account with UBS, invested solely in U.S. government securities with maturity of 185 days or less.  

**Key Corporate Actions & Changes:**  
- In August 2024, transferred majority ownership (2.685 million Class A shares) from the old sponsor to Connor Square, LLC (the new sponsor).  
- The company has extended its deadline to complete a business combination multiple times, with the latest extension to December 31, 2025.  
- Conducted various redemptions and amendments, reducing the outstanding public shares from approximately 18.5 million to about 15,048 shares after redemptions in late 2024.  
- Previously delisted from Nasdaq and now trades on OTCQB; efforts to regain compliance are ongoing.  

**Employees and Management:**  
- Currently maintains only one executive officer who is not committed full-time but intends to devote necessary time until a business combination is achieved.  
- No full-time employees prior to the initial business combination.

**Financials:**  
- As of December 31, 2024, the company has no operating revenues and has not reported any net income.  
- The company’s expenses relate mainly to IPO costs, offering costs, and ongoing corporate expenses.  
- Trust assets, mainly invested in U.S. government securities, were liquidated in April 2024, and funds are now held in cash to avoid being classified as an investment company.

**Customers & Revenue:**  
- No customers, no revenues, and no operating income to date.

**Summary:**  
Corner Growth Acquisition Corp. 2 is a special purpose acquisition company (SPAC) that has not yet completed any business combination. It raises funds through an IPO and private warrants, holds these funds in a trust, and is actively seeking suitable target companies—primarily in the technology sector—to merge with. The company has not generated any revenue or income and is focused on identifying a target, conducting due diligence, and completing a business combination by December 31, 2025.

A blank check company focused on acquiring technology sector opportunities, primarily in the United States, seeking to leverage its experienced management team in venture capital.

# Overview of the Company

## Business Structure
The company is a **blank check company** incorporated in February 2021 as a Cayman Islands exempted company. Its purpose is to effect a **merger, share exchange, asset acquisition, share purchase, reorganization**, or similar business combination with one or more target businesses, referred to as an **initial business combination**.

## Focus and Strategy
- **Industry Focus**: The company primarily targets opportunities in the **technology sector**, particularly in the **United States** and other developed countries.
- **Acquisition Approach**: It aims to capitalize on the management team's experience and previous successes with technology companies through a venture capital firm called Corner Ventures. The management team seeks to identify high-potential, fast-growing technology companies, particularly those in their early growth stages or having a proven business model.

## Company Team
- **Management**: The company is led by Mr. John Cadeddu (Co-Chairman) and Mr. Marvin Tien (Co-Chairman and CEO), both of whom have extensive backgrounds in technology investment and venture capital.
- **Experience**: The management team collectively has over **70 years** in investment experience and has been involved in backing over **200 companies**, achieving more than **30 public exits**.

## Financial Performance
- **Revenue**: As of the date of the report, the company has generated **no operating revenues** to date. It does not anticipate generating operating revenues until it consummates its initial business combination.
- **Operating Income**: The company is currently in the pre-revenue stage, which limits its income generation capacity.
- **Investment Commitments**: The sponsor has agreed to provide additional funds to the trust account to support the extension of the time allowed to consummate an initial business combination.

## Operations and Employee Structure
- **Employees**: The company has **six executive officers** currently. These individuals are not obligated to devote specific numbers of hours to the company, creating the potential for conflicts of interest.
- **Customer Base**: The company has not disclosed the number of customers, primarily due to its blank check structure and current operational status.

## Assets and Financial Constraints
- The company holds a minimum of **$181,551,649** from its Initial Public Offering (IPO) and related transactions, which is intended for future acquisitions. However, due to redemptions and other transactions, the liquid assets may be impacted.

## Challenges
- The company faces challenges in securing a business combination due to intense competition from other entities. Additionally, the potential for substantial redemptions of shares may further affect its capital structure and the feasibility of pursuing ideal targets.
- It is projected that if it fails to complete its initial business combination by **December 31, 2024**, the company will cease operations and liquidate.

## Conclusion
While the company is structured to capitalize on technology acquisition opportunities, its current lack of operating revenue and operational history presents a high-risk investment profile. The company has significant cash reserves but faces liquidity risks associated with potential shareholder redemptions and competition for suitable targets in the acquisition landscape. 

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This summary encapsulates the detailed operational overview, strategy, and challenges facing the blank check company. For more specific details, reference to formal financial statements and reports would provide clearer insights into customer numbers, full employee details, and financial specifics.

CORNER GROWTH ACQUISITION CORP. 2

10-K / July 8, 2025

10-K / April 1, 2024

10-K / July 8, 2025

Company Summary: Corner Growth Acquisition Corp. 2