Company: IPODW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074296
Chunk: 68

Company: Dune Acquisition Corp II
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 Business Combination does not close, we may use a portion of the working capital held
outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to
$1,500,000 of such loans may be convertible into private placement warrants of the post Business Combination entity at a price of $1.00
per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so,
we may have insufficient funds available to operate our business prior to our Business Combination. Moreover, we may need to obtain additional
financing either to complete our Business Combination or because we become obligated to redeem a significant number of our Public Shares
upon consummation of our Business Combination, in which case we may issue additional securities or incur debt in connection with such
Business Combination.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of June 30, 2025. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement with the Sponsor or an affiliate to and aggregate
of $15,000 per month for utilities and secretarial and administrative support. We began incurring these fees on May 6, 2025 and will
continue to incur these fees monthly until the earlier of the completion of the Business Combination and our liquidation.

The underwriters are entitled to a deferred underwriting
discount of $0.40 per unit, or up to $5,750,000 in the aggregate. The deferred fee will become payable to the underwriters from the amounts
held in the Trust Account solely on amounts remaining in the Trust Account following all properly submitted shareholder