{"url_path":"/sec/qlep/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-06-12","source_url":"https://www.sec.gov/Archives/edgar/data/2102155/0001213900-26-068255-index.html","accession_number":"0001213900-26-068255","cik":"0002102155","ticker":"QLEP","issuer_name":"Quantum Leap Acquisition Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/2102155/0001213900-26-068255-index.html","primary_entity_key":"0002102155","primary_entity_name":"Quantum Leap Acquisition Corp"},"word_count":419,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities and Use of\nProceeds.\n\n \n\nInitial Public Offering and Private Placement\n\n \n\nThere were no sales of unregistered\nsecurities during the quarterly period covered by the Report. However, simultaneously with the closing of the Initial Public Offering,\nwe completed the private sale of 594,500 private placement units at $10.00 per Private Placement Unit, to our Sponsor for an aggregate\npurchase price of $5,945,000. On May 8, 2026, simultaneously with the sale of the Over-Allotment Option units, we consummated the private\nsale of an additional 16,054 Private Placement Units to our Sponsor, generating gross proceeds of $160,540.\n\n \n\nOn May 4, 2026, we consummated\nour Initial Public Offering of 20,000,000 units at $10.00 per Unit, generating gross proceeds to the Company of $200,000,000.\n\n \n\nOn May 8, 2026, the underwriter\nnotified us of their partial exercise of the Over-Allotment Option to purchase an additional 917,392 Units at a price of $10.00 per Unit.\nThe closing of the Over-Allotment Option occurred on May 12, 2026, generating gross proceeds of $9,173,920. As of May 12, 2026, aggregate\nnet proceeds of $211,265,659 from the Initial Public Offering, Private Placement Unit sale, and the exercise of the underwriters’\nOver-Allotment option were transferred into our Trust Account with Continental Stock Transfer & Trust Company acting as trustee and\ninvested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity\nof 185 days or less, or in any open-ended investment company that holds itself out as a money market fund investing solely in U.S. Treasuries\nand meeting certain conditions under Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of (i) the\ncompletion of a Business Combination and (ii) the distribution of the funds in the Trust Account to our shareholders, as described in\nthe IPO Registration Statement. The proceeds deposited in the Trust Account could become subject to the claims of creditors, if any, which\ncould have priority over the claims of public shareholders. \n\n \n\nThe remaining proceeds from the Initial Public\nOffering and the Private Placement are held outside the Trust Account. Such funds are being used primarily to enable us to identify a\ntarget and to negotiate and consummate our initial Business Combination.\n\n \n\nThere has been no material change in the planned\nuse of the proceeds from our Initial Public Offering and the Private Placement as described in the IPO Registration Statement. The specific\ninvestments in our Trust Account may change from time to time."}