Company: UAC
Filing Date: 2025-12-03
Form Type: S-1
Source: 0001493152-25-025837
Chunk: 146

Company: United Acquisition Corp. I
Filing Date: 2025-12-03
Form: S-1
Chunk 146
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 (excluding any                       
 shares underlying the private securities), plus (ii) all Class A ordinary shares and                 
 equity-linked securities issued or deemed issued, in connection with the closing of the initial      
 business combination (excluding any shares or equity-linked securities issued, or to be issued,      
 to any seller in the initial business combination and any private placement-equivalent units         
 issued to our Sponsor or any of its affiliates or to our officers or directors upon conversion       
 of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public           
 shareholders in connection with an initial business combination; provided that such                  
 conversion of founder shares will never occur on a less than one-for-one basis. The anti-dilution    
 provisions in our Class B ordinary shares may result in the issuance of additional shares            
 to the holders of Class B ordinary shares and material dilution to the public shareholders’          
 equity interests.                                                                                    |
| (2) | In                                                                                                   
 November 2025, our Sponsor transferred 25,000 founder shares to each of our independent directors,   
 in each case at the same per-share purchase price paid by our Sponsor. The founder shares            
 held by our independent directors will not be subject to forfeiture in the event the underwriter’s   
 over-allotment option is not exercised.                                                              |

Because our Sponsor acquired the founder shares at a nominal price, our public shareholders will incur immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. As a result, our initial shareholders could make a substantial profit after our initial business combination even if our public shareholders lose money on their investment as a result of a decrease in the post-combination value of their Class A ordinary shares. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public shareholders due to the anti-dilution rights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion. See the sections titled “ Risk Factors - Risks Relating to our Sponsor and Management Team - The nominal purchase price paid by our Sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our Sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary