Company: IPODW
Filing Date: 2025-03-25
Form Type: S-1/A
Source: 0001013762-25-002292
Chunk: 131

Company: Dune Acquisition Corp II
Filing Date: 2025-03-25
Form: S-1/A
Chunk 131
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 these powers, to hinder the sale of securities of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not qualify as covered securities under the statute and we would be subject to regulation in each state in which we offer our securities. Our initial shareholders paid an aggregate of $25,000, or approximately $0.004 per founder share and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class A ordinary shares. The difference between the public offering price per share (allocating all of the unit purchase price to the Class A ordinary shares and none to the warrant included in the unit) and the pro forma net tangible book value per share of our Class A ordinary shares after this offering constitutes the dilution to you and the other investors in this offering. Our initial shareholders acquired the founder shares at a nominal price, significantly contributing to this dilution. Upon closing of this offering, and assuming no value is ascribed to the warrants included in the units, you and the other public shareholders will incur an immediate and substantial dilution of approximately 99.40% (or $9.94 per share, assuming no exercise of the underwriters’ over -allotmentoption), the difference between the pro forma net tangible book value per share after this offering of $0.06 (assuming a maximum redemption scenario) and the initial offering price of $10.00 per unit. This dilution would increase to the extent that the anti -dilutionprovisions of the founder shares result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination. For more information on dilution, the assumptions underlying the expected dilution you will experience in connection with this offering and the dilutive impact of different redemption scenarios, please see the section entitled “Dilution” in this prospectus. This dilution would increase to the extent that the anti -dilutionprovisions of the founder shares result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination and would 87

become exacerbated to the extent that public shareholders seek redemptions from the trust for their public shares. In addition, because of the anti -dilutionprotection in the founder shares, any equity or equity -linkedsecurities issued in connection with our initial business combination would be disproportionately dil