Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 63

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Wen Acquisition Corp (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted corporation on January 13, 2025. The Company was incorporated
for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses (the “Business Combination”). The Company has not selected any specific Business Combination
target, and the Company has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any
Business Combination target with respect to an initial Business Combination with the Company.

As of June 30, 2025, the Company has not commenced
any operations. All activities for the period from January 13, 2025 (inception) through June 30, 2025 relate to the Company’s
formation and the Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying a target company,
negotiating the terms of a Business Combination. The Company will not generate any operating revenues until after the completion of its
initial Business Combination, at the earliest. The Company generates 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 Registration Statement on Form S-1 for the
Initial Public Offering, initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2025 (File
No. 333-28682) was declared effective on May 15, 2025 (the “IPO Registration Statement”). 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.
The Company’s Sponsor is Wen Sponsor LLC (the “Sponsor”).

Simultaneously with the closing of the Initial
Public Offering