Company: IPODW
Filing Date: 2025-03-25
Form Type: S-1/A
Source: 0001013762-25-002292
Chunk: 45

Company: Dune Acquisition Corp II
Filing Date: 2025-03-25
Form: S-1/A
Chunk 45
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 do not complete our initial business combination within the completion window, the private placement warrants will expire worthless. |
|                                  |     | Except in certain limited circumstances, no member of the sponsor may sell, transfer, assign, pledge, mortgage, charge, hypothecate, exchange or otherwise dispose of, directly or indirectly, all or any portion of its membership interests in the sponsor. For more information, see “Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Warrants.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| NMSI private placement warrants: |     | The NMSI private placement warrants shall be identical to the other private placement warrants, except that, so long as the NMSI private placement warrants are held, directly (upon distribution of the NMSI private placement warrants to non-managing sponsor investors by sponsor following the closing of our initial business combination) or indirectly (as a result of their ownership in membership interests of the sponsor), by non-managing sponsor investors, (i) the NMSI private placement warrants will be non-redeemable; (ii) the NMSI private placement warrants will not be subject to any forfeiture, transfer, exchange or amendment of the terms in connection with the business combination without the consent of the holders of the sponsor membership interest representing a majority of the NMSI private placement warrants; and (iii) on the one-year anniversary of the closing date of our initial business combination, each non-managing sponsor investors shall have the right, but not the obligation, to exchange any of its NMSI private placement warrants for a number of Class A ordinary shares equal to the quotient obtained by dividing (x) $0.50, by (y) the Market Price (as defined below) of the Class A ordinary shares as of the date of such exchange, subject to a cap of ¼ (one-quarter) of a Class A ordinary share per NMSI private placement warrant. By way of illustration, if a non-managing sponsor investor makes                                                                                                                                                    |

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|                                                      |     | an exchange of NMSI private placement warrants, and if the Market Price of the Class A ordinary shares as of the date of such exchange is $4.00 per Class A ordinary share, then the non-managing sponsor investor would receive 1/8 (one-eighth) of a Class A ordinary share for each NMSI private placement warrant exchanged (i.e., $0.50, divided by $4.00). As such