Company: APACU
Filing Date: 2025-08-22
Form Type: S-1/A
Source: 0001829126-25-006654
Chunk: 164

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-08-22
Form: S-1/A
Chunk 164
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 The “as adjusted” additional paid-in capital calculation is adjusted to zero, with the off-setting balance recorded to accumulated deficit since additional paid-in capital cannot be less than zero.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

<div align='center'>100</div>

<div align='center'>MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

Overview

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.

While we may pursue an initial business combination target in any industry or geographic location, we intend to focus our search on international businesses that would benefit in valuation arbitrage by going public in the United States on a U.S national securities exchange. We currently intend to focus our search for an initial business combination target in the following key verticals: (i) Ecommerce, (ii) Fintech, (iii) SaaS, (iv) Renewable Energy, (v) Mining, and (vi) IT and IT-Enabled Services. Our current intended geographic focus is the APAC and EMEA regions.

Bhargav Marepally, our Chief Executive Officer, and Prabhu Antony, our President and Chief Financial Officer, organized the Prior SPAC, and, together with Richard Saldanha, one of our director nominees, and four other individuals, managed the Prior SPAC through an initial business combination in April 2024 with DigiAsia (NASDAQ: FAAS), an embedded Fintech as a service company in Indonesia serving business-to-business-to-consumer customers, as well as business-to-business customers, across various segments.

We intend to effectuate our initial business combination using cash from the proceeds of this offering and the sale of the private placement units, the proceeds of the sale of our shares in connection with our initial business combination (pursuant to forward purchase agreements or backstop agreements we may enter into following the consummation of this offering or otherwise), our shares, debt, other securities issuances, or a combination of the foregoing.