Company: APAD
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001213900-25-046705
Chunk: 74

Company: AParadise Acquisition Corp.
Filing Date: 2025-05-22
Form: S-1
Chunk 74
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 us, our sponsor, officers and directors have agreed (and their permitted transferees will agree) to vote any founder shares held by them and any public shares purchased during or after this offering in favor of our initial business combination. We expect that at the time of any shareholder vote relating to our initial business combination, our sponsor and its permitted transferees will own at least 25% of our issued and outstanding ordinary shares entitled to vote thereon. As a result, in addition to our founder shares and private placement shares underlying our private placement units, we would need only 6,366,667 or 31.8%, of the 20,000,000 public shares sold in this offering to be voted in favor of a transaction (assuming all outstanding shares are voted) in order to have our initial business combination approved, assuming the over-allotment option is not                                                                                                                                                                                                                          |

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| exercised and the parties to the letter agreement do not acquire any Class A ordinary shares. If only the minimum number of shares representing a quorum are voted and the over-allotment option is not exercised no public shares sold in this offering would be required to be voted in favor of a transaction in order to have our initial business combination approved. Although we have no knowledge of any affiliation or other agreement or arrangement, as to the voting of our securities or otherwise, among the non-voting sponsor investors, non-voting sponsor investors’ interests in the founder shares may provide them with an incentive to vote any shares they own in favor of a business combination, and make a substantial profit on appreciation of the founder shares, even if the business combination is with a target that ultimately reduces the value of the public shares to a level that is not profitable for other public shareholders. If the non-voting sponsor investors all elect to purchase the full amount of our units described herein and so long as they hold a substantial portion of the units purchased, the sponsor and the non-voting sponsor investors would collectively own a significant number of our shares. Therefore, in the event that the non-voting sponsor investors purchase the full amount of units described herein, continue to hold the shares included in the units and individually decide to vote such shares in favor of our initial business combination, we would not need any additional public shares sold in this offering to be voted in favor of our initial business combination to have our initial business combination approved. Each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against, or abstain from voting on, the proposed transaction.