Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 4

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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inception) through March 31, 2025 relates to the Company’s
formation, and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate
any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating
income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering (as defined
below). The Company has selected December 31 as its fiscal year end.

The Company’s Sponsor is Wen Sponsor LLC
(the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on May
15, 2025. On May 19, 2025, the Company consummated the Initial Public Offering of 30,015,000 units at $10.00 per unit (the “Units”),
which is discussed in Note 3, which includes the full exercise of the underwriters’ over-allotment option of 3,915,000 Units,
generating gross proceeds of $300,150,000.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of an aggregate of 7,220,000 Private Placement Warrants (the “Private Placement
Warrants”) to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters of the Initial Public Offering,
at a price of $1.00 per warrant, or $7,220,000 in the aggregate. Of those 7,220,000 Private Placement Warrants, the Sponsor purchased
4,610,000 Private Placement Warrants and Cantor Fitzgerald & Co. purchased 2,610,000 Private Placement Warrants. Each whole warrant
entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share.

Transaction costs amounted to $20,196,742, consisting
of $5,220,000 of cash underwriting fees, $14,289,750 of deferred underwriting fees, and $686,992 of other offering costs.

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account)
at the time of the signing an agreement to enter into a Business Combination.