Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 59

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 the expenses of the Initial Public Offering. The loan was non-interest bearing,
unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As of March 31, 2025, the Company
had borrowed $87,250 under the promissory note. At the closing of the Initial Public Offering, on May 20, 2025, the Company repaid the
outstanding balance. Borrowings under the note are no longer available.

Administrative Services Agreement

Commencing on May 15, 2025, the Company entered
into an agreement with an affiliate of the Sponsor to pay an aggregate of $12,500 per month for office space, utilities, and secretarial
and administrative support. These monthly fees will cease upon the completion of the initial Business Combination or the liquidation of
the Company. As of March 31, 2025, the Company did not incur any fees for these services.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes
a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the
Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from
the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible
into private placement warrants of the post Business Combination entity at a price of $1.00 per warrant at the option of the lender.
The warrants would be identical to the Private Placement Warrants. As of March 31, 2025, no such Working Capital Loans were outstanding.

11

WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

NOTE 6. COMMITMENTS AND CONTINGENCIES RISKS
AND UNCERTAINTIES

Risks and Uncertainties

The United States and global markets are
experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the
Israel-Hamas conflict. In response to the ongoing Russia-Ukraine