Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 94

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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500,000 of such Working Capital Loans may be convertible into
warrants of the post-Business Combination entity at a price of $10.00 per warrant, at the option of the lender. As of June 30, 2025, we
did not have any outstanding Working Capital Loans.

20

Critical Accounting Estimates and Policies

The preparation of unaudited condensed financial
statements and related disclosures in conformity with GAAP requires Management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements
and the notes thereto included in this Report under “Item 1. Financial Statements”, and income and expenses during the periods
reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates as of
June 30, 2025.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment
expenses. The standard was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. We adopted this ASU 2023-07 August 6, 2024, the date of our incorporation. Adoption
of the new standard did not have a material impact on the unaudited condensed financial statements and the notes thereto included in this
Report under “Item 1. Financial Statements”.

.

In December 2023, the FASB issued ASU 2023-09,
which provides for additional disclosures primarily related to the income tax rate reconciliations and income taxes paid. ASU 2023-09
requires entities to annually disclose the income tax rate reconciliation using both amounts and percentages, considering several categories
of reconciling items, including state and local income taxes, foreign tax effects, tax credits and nontaxable or nondeductible items,
among others. Disclosure of the reconciling items is subject to a quantitative threshold and disaggregation by nature and jurisdiction.
ASU 2023-09 also requires entities to disclose net income taxes paid or received to federal, state and foreign jurisdictions, as well
as by individual jurisdiction, subject to a five percent quantitative threshold. ASU 2023-09 may be adopted on a prospective or retrospective
basis and is effective for fiscal years