Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 45

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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, a total of $200,000,000 ($10.00
per unit) of the net proceeds from the IPO and the Private Placement were deposited in a trust account established for the benefit of
the Company’s public shareholders (the “Trust Account”) located in the United States with Continental Stock Transfer
& Trust Company acting as trustee. The funds placed in the Trust Account will be invested only in U.S. government treasury bills with
a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act
which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the Trust
Account that may be released to the Company to pay its taxes, if any, the proceeds from the IPO and the private placement will not be
released from the Trust Account the earlier to occur of (i) the completion of the initial Business Combination, (ii) the redemption
of any public shares properly tendered in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association to (A) modify the substance or timing of the Company’s obligation to redeem 100% of the public
shares if the Company does not complete the initial Business Combination within the Combination Period (defined below) or (B) with
respect to any other provision relating to shareholders’ rights or pre-Business Combination activity and (iii) the redemption
of all of the public shares if the Company is unable to complete the initial Business Combination within the Combination Period (defined
below), subject to applicable law and as further described in the Prospectus. In no other circumstances will a public shareholder have
any right or interest of any kind in the trust account. The proceeds deposited in the Trust Account could become subject to the claims
of the creditors, if any, which could have priority over the claims of the public shareholders.

Transaction costs amounted to $12,645,418 consisting
of $4,000,000 of cash underwriting fee which was paid in cash at the closing date of the IPO, $8,000,000 of deferred underwriting fee,
and $645,418 of other offering costs. At the IPO date, cash of $1,848,460 was held outside of the Trust Account (as defined below) and
is available for the payment of the promissory note (see Note 5), payment of accrued expenses and for working capital purposes.

Item