Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 22

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 of the Initial Public Offering. Additionally,
the underwriters are entitled to a deferred underwriting discount of 4.50% of the gross proceeds of the Initial Public Offering held in
the Trust Account other than those sold pursuant to the underwriters’ over-allotment option and 6.50% of the gross proceeds sold
pursuant to the underwriters’ over-allotment option, $14,289,750 in the aggregate upon the completion of the Company’s initial
Business Combination subject to the terms of the underwriting agreement.

NOTE 7. SHAREHOLDERS’ DEFICIT

Preference Shares — The
Company is authorized to issue a total of 5,000,000 preference shares at par value of $0.0001 each. As of March 31, 2025, there were no
preference shares issued or outstanding.

Class A Ordinary Shares — The
Company is authorized to issue a total of 500,000,000 Class A ordinary shares at par value of $0.0001 each. As of March 31, 2025,
there were no Class A ordinary shares issued or outstanding.

Class B Ordinary Shares —
The Company is authorized to issue a total of 50,000,000 Class B ordinary shares at par value of $0.0001 each. On January 13,
2025, the Company issued 5,750,000 Class B ordinary shares to the Sponsor for $25,000, or approximately $0.004 per share. On April
28, 2025 and on April 29, 2025, the Company, through a share capitalization, issued the Sponsor an additional 575,000 and 1,178,750, respectively,
Class B ordinary shares, as a result of which the Sponsor has purchased and holds an aggregate of 7,503,750 Class B ordinary shares. All
share and per share data has been retrospectively presented. The founder shares include an aggregate of up to 978,750 shares subject to
forfeiture if the over-allotment option is not exercised by the underwriters in full. On May 19, 2025, the underwriters exercised their
over-allotment option in full as part of the closing of the Initial Public Offering. As such, the 978,750 founder shares are no longer
subject to forfeiture.

12

WEN ACQUISITION CORP

NOTES TO CONDENSE