Company: GSHRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075907
Chunk: 27

Company: Gesher Acquisition Corp. II
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 Act of the Class A Ordinary Shares issuable upon exercise of the Warrants and thereafter
will use its commercially reasonable efforts to cause the same to become effective within 60 business days following the Company’s
initial Business Combination and to maintain a current prospectus relating to the Class A Ordinary Shares issuable upon exercise of the
warrants until the expiration of the Warrants in accordance with the provisions of the Warrant Agreement. If a registration statement
covering the Class A Ordinary Shares issuable upon exercise of the Warrants is not effective by the sixtieth (60th) business day
after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective registration statement
and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless
basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the
Class A Ordinary Shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy
the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option,
require holders of Public Warrants who exercise their Public Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of
the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration
statement, and in the event the Company does not so elect, the Company will use its commercially reasonable efforts to register or qualify
the shares under applicable blue sky laws to the extent an exemption is not available.

If the holders exercise their Public Warrants
on a cashless basis, they would pay the warrant exercise price by surrendering the Warrants for that number of Class A Ordinary Shares
equal to the quotient obtained by dividing (x) the product of the number of Class A Ordinary Shares underlying the Warrants, multiplied
by the excess of the “fair market value” of the Class A Ordinary Shares over the exercise price of the Warrants by (y) the
fair market value. The “fair market value” is the average reported closing price of the Class A Ordinary Shares for the 10 trading
days ending on the third trading day prior to the date on which the notice of exercise is received by the