Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 112

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 112
---
 30,015,000 Units at $10.00 per Units, which includes the full exercise of the Over-Allotment Option of 3,915,000 Option
Units, generating gross proceeds of $300,150,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale
of an aggregate of 7,220,000 Private Placement Warrants to the Sponsor and Cantor, generating gross proceeds of $7,220,000. Of those 7,220,000
Private Placement Warrants, the Sponsor purchased 4,610,000 Private Placement Warrants and Cantor purchased 2,610,000 Private Placement
Warrants.

Following the closing of the Initial Public Offering
and the Private Placement, a total of $300,150,000 was placed in the Trust Account. We incurred transaction costs amounting to $20,196,742,
consisting of $5,220,000 of cash underwriting fee, $14,289,750 of Deferred Fee, and $686,992 of other offering costs.

For the period from January 13, 2025 (inception)
through June 30, 2025, cash used in operating activities was $405,651. Net income of $1,130,686 was affected by payment of operation costs
through the IPO Promissory Note of $53,670, payment of operation costs through due to sponsor of $5,455, interest earned on marketable
securities held in Trust Account of $1,403,603. Changes in operating assets and liabilities used $191,859 of cash for operating activities.   

As of June 30, 2025, we had cash and marketable
securities held in the Trust Account of $301,553,603 (including approximately $1,403,603 of interest income) consisting of short-term
debt securities issued by the U.S. Department of the Treasury with a maturity of 185 days or less. We may withdraw interest from the Trust
Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing
interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. To the extent that our share capital
or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust
Account will be used as working capital to finance