Company: SDHIU
Filing Date: 2025-03-07
Form Type: S-1
Source: 0001213900-25-021782
Chunk: 145

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-03-07
Form: S-1
Chunk 145
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 or in an interest bearing demand deposit account at a bank. Due to the short -termnature of these investments, we believe there will be no associated material exposure to interest rate risk. Related Party Transactions On July15, 2024, the sponsor entered into a certain subscription agreement with the company, paying $25,000, or approximately $0.004 per share, in exchange for the issuance of 5,750,000 founders shares to the sponsor. On October7, 2024 the company, through a share capitalization, by way of entering into an amended and restated subscription agreement, issued the sponsor an additional 1,437,500 Class B ordinary shares, as a result of which the 92 sponsor has purchased and holds an aggregate of 7,187,500 Class B ordinary shares. Subsequently, on February10, 2025, our sponsor surrendered for no consideration and we canceled 1,437,500 of such Class A ordinary shares, resulting in 5,750,000 Class A ordinary shares remaining outstanding. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 23,000,000 units if the underwriter’s over -allotmentoption is exercised in full, and therefore that such founder shares would represent 20% of the outstanding shares after this offering. Up to 750,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriter’s over -allotmentis exercised. If we increase or decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. Our sponsor, Siddhi Sponsor LLC, has committed to purchase an aggregate of 300,000 units (or 315,000 units if the underwriter’s over -allotmentoption is exercised in full), at $10.00 per private unit for a total purchase price of $3,000,000 (or $3,150,000 if the underwriter’s over -allotmentoption is exercised in full), in a private placement that will close simultaneously with the closing of this offering. The private placement units will also be worthless if we do not complete our initial