Company: NBRG
Filing Date: 2025-05-09
Form Type: DRS
Source: 0001213900-25-041372
Chunk: 177

Company: Newbridge Acquisition Ltd
Filing Date: 2025-05-09
Form: DRS
Chunk 177
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 and competitive conditions and adverse changes in government regulation; and •limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt. 104 As indicated in the accompanying financial statements, at December 31, 2024, we had $9,456 in cash and a working capital deficit of $459,895. Further, we expect to continue to incur significant costs in the pursuit of our acquisition plans. Our plans to raise capital or to consummate our initial business combination may not be successful. These factors among others raise substantial doubt about our ability to continue as a going concern. Results of Operations and Known Trends or Future Events We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our initial business combination. We will generate non -operatingincome in the form of interest income on cash and cash equivalents after this offering. There has been no significant change in our financial or trading position and no material adverse change has occurred since the date of our audited financial statements. After this offering, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of this offering. Liquidity and Capital Resources Our liquidity needs will be satisfied through receipt of $25,000 from the sale of the founder shares and an aggregate of up to $500,000 in loans available from the sponsor under an unsecured promissory note executed on May 1, 2021, and due at the closing of this offering. As of December 31, 2024, we have borrowed $469,351 under the promissory note with the sponsor. Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management’s plans to address this uncertainty through this offering are discussed above. We cannot assure you that our plans to raise capital or to consummate an initial business combination will be successful. These factors, among others, raise substantial doubt about our ability to continue as a going concern. We estimate that the net proceeds from (1) the sale of the units in this offering, after deducting offering expenses of approximately $500,000 and underwriting