Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 23

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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the
“Over-Allotment Option”). On May 19, 2025, simultaneously with the closing of the Initial Public Offering, the Underwriters
elected to fully exercise the Over-Allotment Option to purchase the additional 3,915,000 Option Units at a price of $10.00 per Option
Unit.

The Underwriters were entitled to a cash underwriting
discount of $5,220,000 (2.0% of the gross proceeds of the Units in the Initial Public Offering, excluding any proceeds pursuant to the
Over-Allotment Option), which was paid at the closing of the Initial Public Offering. Additionally, the Underwriters are entitled to a
deferred underwriting fee of 4.50% of the gross proceeds of the Initial Public Offering held in the Trust Account other than those sold
pursuant to the Over-Allotment Option and 6.50% of the gross proceeds sold pursuant to the Over-Allotment Option, $14,289,750 in the aggregate
upon the completion of the initial Business Combination subject to the terms of the Underwriting Agreement, dated May 15, 2025, by and
between the Company and Cantor (such fee, the “Deferred Fee”).

14

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

Note
7 — Shareholders’ Deficit

Preference Shares

The Company is authorized to issue a total of
5,000,000 preference shares at par value of $0.0001 each. At September 30, 2025, there were no preference shares issued or outstanding.

Class A Ordinary Shares

The Company is authorized to issue a total
of 500,000,000 Class A Ordinary Shares at par value of $0.0001 each. At September 30, 2025, there were no Class A Ordinary Shares
issued or outstanding, excluding 30,015,000 shares subject to possible redemption.

Class B Ordinary Shares

The Company is authorized to issue a total of
50,000,000 Class B Ordinary Shares at par value of $0.0001 each. On January 13, 2025, the Company issued 5,750,000 Class B
Ordinary Shares to the Sponsor for $25,000, or approximately $0.004 per share. On April 28