Company: NBRG
Filing Date: 2025-09-11
Form Type: S-1/A
Source: 0001213900-25-086861
Chunk: 177

Company: Newbridge Acquisition Ltd
Filing Date: 2025-09-11
Form: S-1/A
Chunk 177
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____________ (1)The sponsor has agreed to loan us up to $1,500,000 under unsecured promissory notes issued on May 1, 2021 and May 1, 2025 to be used for a portion of the expenses of this offering. As of June 30, 2025, we have borrowed $630,997 under the promissory notes with the sponsor. (2)Upon the completion of our initial business combination, we will provide our shareholders with the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account as of two business days prior to the consummation of the initial business combination including interest earned on the funds held in the trust account and not previously released to us to pay our taxes. (3)Actual share amount is prior to any forfeiture of founder shares by the sponsor and as adjusted amount assumes no exercise of the underwriters’ over -allotmentoption. As of June 30, 2025, 1,437,500 founder shares were issued to the sponsor (up to 187,500 of which are subject to forfeiture depending on the extent to which the underwriters’ over -allotmentoption is exercised). (4)All of the 5,000,000 Class A ordinary shares sold as part of the units in the offering contain a redemption feature which allows for the redemption of such public shares in connection with our liquidation if there is a shareholder vote or tender offer in connection with our initial business combination and in connection with certain amendments to our amended and restated memorandum and articles of association. In accordance with SEC and its guidance on redeemable equity instruments, which has been codified in ASC 480 -10-S99, redemption provisions not solely within the control of a company require shares subject to redemption to be classified outside of permanent equity. Given that the 5,000,000 Class A ordinary shares sold as part of the units in the offering will be issued with other freestanding instruments (i.e., public rights), the initial carrying value of the ordinary shares classified as temporary equity will be the allocated proceeds determined in accordance with ASC 470 -20. Our ordinary shares are subject to ASC 480 -10-S99. If it is probable that the equity instrument will become redeemable, we have the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes