Company: NBRG
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001213900-25-068218
Chunk: 181

Company: Newbridge Acquisition Ltd
Filing Date: 2025-07-28
Form: DRS/A
Chunk 181
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 our obligations. Controls and Procedures We are not currently required to maintain an effective system of internal controls as defined by Section 404 of the Sarbanes -OxleyAct. We will be required to comply with the internal control requirements of the Sarbanes -OxleyAct for the fiscal year ending December 31, 2026. As of the date of this prospectus, we have not completed an assessment, nor have our auditors tested our systems, of internal controls. We expect to assess the internal controls of our target business or businesses prior to the completion of our initial business combination and, if necessary, to implement and test additional controls as we may determine are necessary in order to state that we maintain an effective system of internal controls. A target business may not be in compliance with the provisions of the Sarbanes -OxleyAct regarding the adequacy of internal controls. Many small and mid -sizedtarget businesses we may consider for our initial business combination may have internal controls that need improvement in areas such as: •staffing for financial, accounting and external reporting areas, including segregation of duties; •reconciliation of accounts; •proper recording of expenses and liabilities in the period to which they relate; •evidence of internal review and approval of accounting transactions; •documentation of processes, assumptions and conclusions underlying significant estimates; and •documentation of accounting policies and procedures. Because it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements and market expectations for our operation of a target business, we may incur significant expense in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal and disclosure controls. Doing so effectively also may take longer than we expect, thus increasing our exposure to financial fraud or erroneous financing reporting. Related Party Transactions In April 2021 and February 2022, we issued a total of 2,875,000 ordinary shares to our sponsor, referred to in this prospectus as the “insider shares” or “founder shares,” for a total purchase price of $25,000, or approximately $0.009 per share. Subsequently, our sponsor transferred an aggregate of 398,750 ordinary shares to our directors and officers and we forfeited 1,437,500 ordinary shares. In May 2025, our ordinary shares were reclassified and redesignated into Class A and Class B ordinary shares. Following these transfers, forfeitures, and the redesignation and reclassification