Breeze Acquisition Corp. II restates May 14, 2026 balance sheet; $1.15M reclassified as receivable

Breeze Acquisition Corp. II

Audit Committee concluded May 14, 2026 balance sheet should no longer be relied upon due to accounting error for legal advisor fees.
Company recorded $1,957,000 accrued expenses, $93,000 APIC, and $1,150,000 offering costs; advisors performed no services, so $1.15M should be receivable.
Restatement will exclude accrued expenses and APIC, reclassify $1.15M as receivable from Sponsor.
Material weakness in internal control over financial reporting related to contract review; remediation plan implemented.
Restated financials to be filed in amendment to 8-K and in Q2 10-Q.

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