Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 179

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 179
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 Share for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per
Unit, generating gross proceeds to us of $300,150,000. Cantor acted as the sole book runner and representative of the underwriters.

On May 19, 2025, simultaneously
with the consummation of our Initial Public Offering and pursuant to the Private Placement Warrants Purchase Agreements, we completed
the private sale of an aggregate of 7,220,000 Private Placement Warrants at a purchase price of $1.00 per Private Placement Warrant, to
our Sponsor and Cantor, generating gross proceeds of $7,220,000.

Following the closing
of our Initial Public Offering and the Private Placement, a total of $300,150,000 (which amount includes $14,289,750 of the Deferred Fee), was placed in a U.S.-based trust account maintained by Continental, acting as trustee. The proceeds held in the Trust Account may be
invested by the trustee only in U.S. government securities with a maturity of 185 days or less or in money market funds investing solely
in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. To mitigate the
risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that
we hold investments in the Trust Account, we may, at any time (based on the Management Team’s ongoing assessment of all factors
related to the potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust
Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a bank.

The
remaining proceeds from the Initial Public Offering and the Private Placement are held outside the Trust Account. Such funds are
being used primarily to enable us to identify a target and to negotiate and consummate our initial Business Combination.

There has been no material
change in the planned use of the proceeds from our Initial Public Offering and the Private Placement as described in the IPO Registration
Statement. The specific investments in our Trust Account may change from time to time.

Purchases of Equity
Securities by the Issuer and Affiliated Purchasers

None.

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

Trading Arrang