Bluerock Acquisition Corp. II filed a Form 10-Q with the SEC on November 13, 2026, reporting financial results for the quarter and nine months ended September 30, 2026, its first reporting period following the closing of its Initial Public Offering.

Key Highlights

  • Trust Account: Investments held in the Trust Account totaled $173,405,722 as of September 30, 2026, compared to $0 at December 31, 2025.
  • Shares Outstanding: As of November 13, 2026, there were 17,250,000 Class A ordinary shares and 6,060,811 Class B ordinary shares issued and outstanding.
  • Net Loss: The company reported a net loss of $70,027 for the three months ended September 30, 2026, and a net loss of $117,502 for the nine months ended September 30, 2026.
  • Class A Redemption Value: The 17,250,000 Class A ordinary shares subject to possible redemption were carried at $10.05 per share as of September 30, 2026.
  • Shareholders' Deficit: Total shareholders' deficit was $(5,520,894) as of September 30, 2026, compared to $(23,718) at December 31, 2025.
  • Deferred Underwriting Fees: The company recorded $6,037,500 in deferred underwriting fees on the balance sheet as of September 30, 2026.
  • Over-Allotment: The underwriter exercised its over-allotment option in full on September 28, 2026, releasing 790,541 Founder Shares from forfeiture conditions.

Bluerock Acquisition Corp. II Reports First Post-IPO Quarter Results

According to the filing, Bluerock Acquisition Corp. II (NASDAQ:BRRK) completed its Initial Public Offering during the third quarter of 2026, with the underwriter exercising its over-allotment option in full on September 28, 2026. As a result, 17,250,000 Class A ordinary shares subject to possible redemption were outstanding at September 30, 2026, carried at a redemption value of $10.05 per share. The company also disclosed the sale of 5,812,500 Private Placement Warrants during the period, generating $5,812,500 in proceeds recorded in additional paid-in capital.

The filing reported operating and formation costs of $113,249 for the three months ended September 30, 2026, resulting in a loss from operations of $(113,249). Interest earned on the Trust Account of $43,222 partially offset that loss, producing a net loss of $(70,027) for the quarter. For the nine months ended September 30, 2026, operating and formation costs were $160,724 and net loss was $(117,502). The accumulated deficit grew from $(48,718) at December 31, 2025 to $(5,521,500) by September 30, 2026, reflecting both pre-IPO losses and IPO-related charges.

The balance sheet as of September 30, 2026 showed total assets of $174,717,578, driven primarily by the $173,405,722 held in the Trust Account. Total liabilities were $6,832,750, which included $6,037,500 in deferred underwriting fees and $700,000 in accrued offering costs. The accrued offering costs included a $300,000 related-party capital market advisory fee, $325,000 in accrued legal fees, and $75,000 for the initial Nasdaq listing fee, according to the filing. The company disclosed that Class B ordinary share amounts were retrospectively adjusted to reflect the surrender of 1,916,667 shares on February 13, 2026, and a share capitalization of 310,811 shares on September 20, 2026.

What Was Disclosed

Bluerock Acquisition Corp. II disclosed its unaudited financial statements for the quarter and nine months ended September 30, 2026, covering the period that included the closing of its IPO, the trust account establishment, and the full exercise of the underwriter's over-allotment option.