Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 91

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 (for
legal, financial reporting, accounting and auditing compliance, among other things), as well as for due diligence expenses.

For the three months ended June 30, 2025, we had
a net income of $1,174,630, which consists of interest earned on marketable securities held in Trust Account of $1,403,603, offset by
general and administrative costs of $228,973.

For the period from January 13, 2025 (inception)
through June 30, 2025, we had a net income of $1,130,686, which consists of interest earned on marketable securities held in Trust Account
of $1,403,603, offset by general and administrative costs of $272,917.

18

Liquidity and Capital Resources

The Sponsor agreed to loan us an aggregate of
up to $300,000 to be used for a portion of the expenses of the Initial Public Offering pursuant to the IPO Promissory Note. The loan was
non-interest bearing, unsecured and due at the earlier of December 31, 2025, or the closing of the Initial Public Offering. We had no
borrowings under the IPO Promissory Note as of June 30, 2025, and the IPO Promissory Note is no longer available to be drawn upon.

On May 19, 2025, we consummated the Initial Public
Offering of 30,015,000 Units at $10.00 per Units, which includes the full exercise of the Over-Allotment Option of 3,915,000 Option
Units, generating gross proceeds of $300,150,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale
of an aggregate of 7,220,000 Private Placement Warrants to the Sponsor and Cantor, generating gross proceeds of $7,220,000. Of those 7,220,000
Private Placement Warrants, the Sponsor purchased 4,610,000 Private Placement Warrants and Cantor purchased 2,610,000 Private Placement
Warrants.

Following the closing of the Initial Public Offering
and the Private Placement, a total of $300,150,000 was placed in the Trust Account. We incurred transaction costs amounting to $20,196,742,
consisting of $5,220,000 of cash underwriting fee, $14,289,750 of Deferred Fee, and