Company: SDHIU
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001213900-25-042070
Chunk: 14

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 offering and the sale of the Private Placement Units not held in the Trust Account. As of March 31, 2025, the Company had borrowed
$205,000 under the promissory note. The Company repaid the full $205,000 borrowed under the promissory note on April 15, 2025. Borrowings
under the note are no longer available.

10

SIDDHI ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

Administrative Support Fee

The Company entered into an agreement, commencing
on March 31, 2025, 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. In addition, the consultant shall be paid a monthly fee of $3,500, commencing on
April 2, 2025 and a success fee should the Company complete an initial Business Combination of 40,000 shares. If the Company does not
complete an initial Business Combination, the success fee will not be due and payable. For the three months ended March 31, 2025, the
Company had incurred fees of $23,050, as presented on the statement of operations. As of March 31, 2025 and December 31, 2024, $28,050
and $5,000, respectively, were due to the consulting firm and recorded in accrued expenses on the condensed balance sheets.

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 Business Combination does not close, the
Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from
the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible
into Private