Company: GSHRW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043440
Chunk: 18

Company: Gesher Acquisition Corp. II
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
 shares issuable upon exercise
of the warrants is not effective by the sixtieth (60th) business day after the closing of the initial Business Combination,
warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have
failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of
the Securities Act or another exemption. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise
of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under
Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who exercise their
warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event
the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company
does not so elect, the Company will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky
laws to the extent an exemption is not available.

11

GESHER ACQUISITION CORP. II

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

If the holders exercise their public warrants
on a cashless basis, they would pay the warrant exercise price by surrendering the warrants for that number of Class A ordinary shares
equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants,
multiplied by the excess of the “fair market value” of the Class A ordinary shares over the exercise price of the warrants
by (y) the fair market value. The “fair market value” is the average reported closing price of the Class A ordinary
shares for the 10 trading days ending on the third trading day prior to the date on which the notice of exercise is received
by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as applicable.

Redemption of Warrants When the Price per Class A
Ordinary Share Equals or Exceeds $18.00: The Company may redeem the outstanding warrants:

●in
whole