Company: SDHIU
Filing Date: 2025-03-07
Form Type: S-1
Source: 0001213900-25-021782
Chunk: 293

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-03-07
Form: S-1
Chunk 293
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, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing at least 150 days after the initial Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the Company’s shareholders having the right to exchange their shares for cash, securities or other property, the founder shares will be released from the Lock -up. Promissory Note — Related Party The Sponsor has agreed to loan the Company an aggregate of up to $300,000, as amended, to be used for a portion of the expenses of the Proposed Public Offering. The loan is non -interestbearing and unsecured. The promissory note is payable on the earlier of (i) April 30, 2025, (ii) the date on which the Company consummates the Proposed Public Offering or (iii) the date on which the Company determines to not proceed with such Proposed Public Offering. The loan will be repaid out of the $750,000 of offering proceeds that has been allocated to the payment of offering expenses, from amounts available for working capital. As of December31, 2024, the Company had borrowed $160,000 under the promissory note. Administrative Support Fee The Company will enter into an agreement on the effective date of the Proposed Public Offering to pay a monthly technology, software, computer, systems, administrative support, secretarial services and infrastructure fee of $15,000 to Siddhi Capital Holdings, until the earlier of an initial Business Combination or liquidation of the Company. Consultant Services Agreement A consulting firm affiliated with the Company’s Chief Financial Officer provides accounting services to the Company. As of December31, 2024, the Company had incurred fees of $20,420, as presented on the statement of operations. In addition, the consultant shall be paid a monthly fee of $3,500, post the closing of the Proposed Public Offering and a success fee should the Company complete an initial Business Combination of 40,000shares. If the Company does not complete an initial Business Combination, the success fee will not be due and payable. Working Capital Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event that a