Company: NBRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110861
Chunk: 29

Company: Newbridge Acquisition Ltd
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 29
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ated as a British Virgin Islands business company on April 16, 2021 for the purpose of entering into a merger, share exchange,
asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more target businesses.
Our efforts to identify a prospective target business will not be limited to a particular industry or geographic region. As such, although
we are not targeting target companies in China, we may consider a business combination with an entity or business with a physical presence
or other significant ties to China, including Hong Kong and Macau, which may subject the post-business combination business to the
laws, regulations and policies of China. We intend to utilize cash derived from the proceeds of this offering, our securities, debt or
a combination of cash, securities and debt, in effecting a business combination.

14

The issuance of additional
shares in our initial business combination:

●may
                                            significantly dilute the equity interest of investors in this offering who would not have
                                            pre-emption rights in respect of any such issue;

●could
                                            cause a change in control if a substantial number of ordinary shares are issued, which may
                                            affect, among other things, our ability to use our net operating loss carry forwards, if
                                            any, and could result in the resignation or removal of our present officers and directors;

●may
                                            have the effect of delaying or preventing a change of control of us by diluting the share
                                            ownership or voting rights of a person seeking to obtain control of us; and

●may
                                            adversely affect prevailing market prices for our ordinary shares.

Similarly, if we issue debt
securities or otherwise incur significant indebtedness, it could result in:

●default
                                            and foreclosure on our assets if our operating revenues after our initial business combination
                                            are insufficient to repay our debt obligations;

●acceleration
                                            of our obligations to repay the indebtedness even if we make all principal and interest payments
                                            when due if we breach certain covenants that require the maintenance of certain financial
                                            ratios or reserves without a waiver or renegotiation of that covenant;

●our
                                            immediate payment of all principal and accrued interest, if any, if the debt is payable on
                                            demand;

●our
                                            inability to obtain necessary additional financing if any document governing such debt contains
                                            covenants restricting our ability to obtain such financing while the debt security is outstanding;

●our
                                            inability to pay dividends on our ordinary shares;

●