Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 26

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B
Ordinary Shares (i) have the right to vote on the appointment and removal of directors and (ii) are entitled to vote on continuing
the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents
or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands). Holders of the Class A Ordinary Shares are not entitled to vote on these matters during such time. These provisions
of the Amended and Restated Articles may only be amended if approved by a special resolution passed by the affirmative vote of at least
90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds) of the votes
cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general
meeting of the Company.

Warrants

As of September 30, 2025, there were 15,007,500
Public Warrants and 7,220,000 Private Placement Warrants outstanding. Each whole warrant entitles the holder to purchase one Class A
Ordinary Share at a price of $11.50 per share, subject to adjustment as discussed herein. The Warrants cannot be exercised until 30 days
after the completion of the initial Business Combination, and will expire at 5:00 p.m., New York City time, five years
after the completion of the initial Business Combination or earlier upon redemption or liquidation.

The Company will not be obligated to deliver any
Class A Ordinary Shares pursuant to the exercise of a Warrant and will have no obligation to settle such Warrant exercise unless
a registration statement under the Securities Act with respect to the Class A Ordinary Shares underlying the Warrants is then effective
and a prospectus relating thereto is current. No Warrant will be exercisable and the Company will not be obligated to issue a Class A
Ordinary Share upon exercise of a Warrant unless the Class A Ordinary Share issuable upon such Warrant exercise has been registered,
qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the
event that the conditions in the two immediately preceding sentences are not