Company: GSHRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075907
Chunk: 68

Company: Gesher Acquisition Corp. II
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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as Public Shareholders, except (i) the Founder Shares are subject to certain transfer restrictions, as described in more detail below;
(ii) the Founder Shares are entitled to registration rights; (iii) the Sponsor and the Company’s officers and directors
have entered into the Letter Agreement with the Company, pursuant to which they have agreed to many limitations on the Founder Shares
(see Note 1); (iv) the Founder Shares are automatically convertible into Class A Ordinary Shares in connection with the consummation of
the initial Business Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment as described herein
and in the Amended and Restated Articles; and (v) prior to the closing of the initial Business Combination, only holders of the Class
B Ordinary Shares are entitled to vote on (x) the appointment and removal of directors or (y) continuing the Company in a jurisdiction
outside the Cayman Islands (including any special resolution required to amend the Company’s constitutional documents or to adopt
new constitutional documents, in each case, as a result of the Company approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands).

Promissory Note — Related Party

The Sponsor agreed to loan the Company an aggregate
of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering pursuant to a promissory note (the “IPO
Promissory Note”). The loan was non-interest bearing, unsecured and due at the earlier of May 31, 2025 or the closing of the
Initial Public Offering. On March 24, 2025, the Company repaid the total outstanding balance of the IPO Promissory Note amounting to $162,616.
Borrowings under the IPO Promissory Note are no longer available.

12

GESHER ACQUISITION CORP. II

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Administrative Services Agreement

The Company entered into an agreement with an
affiliate of the Sponsor, commencing on March 24, 2025 through the earlier of the Company’s consummation of the initial Business
Combination and its liquidation, to pay the affiliate of the Sponsor an aggregate of $10,000 per month for office space, utilities, and
secretarial and administrative support (the “Administrative Services Agreement”). For the three and