Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 24

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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udited condensed statements of operations. The estimated fair values of investments
held in the Trust Account are determined using available market information.

For the three months ended June 30, 2025 and for the period from January
13, 2025 (inception) through June 30, 2025, the Company recorded $1,403,603 of interest earned from Trust Account, in the accompanying
unaudited condensed statements of operations. For the three months ended June 30, 2025, the Company did not withdraw any interest earned
in the Trust Account.

8

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying unaudited condensed balance sheet, primarily due to its short-term nature.

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition, results of operations, and cash flows. 

Offering Costs Associated with the Initial
Public Offering

The Company complies with the requirements of
the FASB ASC Topic 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Deferred offering costs
consist principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC Topic 470-20, “Debt
with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and
debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between Public Shares and
Public Warrants, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the Public Warrants
and then to the Public Shares. Offering costs allocated to the Public Shares were charged to temporary equity. Offering costs allocated
to the Warrants were charged to shareholders’ deficit as the Warrants were accounted for under equity treatment based on the equity
classification of the underlying financial