Company: AAM-UN
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001213900-25-022743
Chunk: 451

Company: AA Mission Acquisition Corp.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 4
Chunk 451
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 of tax positions
taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be
sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits
as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2024.
The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation
from its position.

There
is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations,
income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.

F-11

Ordinary
Shares Subject to Possible Redemption

The Company accounts for its ordinary shares subject
to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing
Liabilities from Equity.” Ordinary shares subject to mandatory redemption (if any) is classified as a liability instrument and is
measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either
within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s
control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s
ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence
of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary
equity, outside of the shareholders’ equity section of the Company’s balance sheet. The Company recognizes changes in redemption
value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end
of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against
additional paid in capital and accumulated deficit.

At
December 31, 2024, the ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following
table:

    Public offering proceeds 
    $300,000,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (21,300,000)
  
    Allocation of offering costs related to redeemable shares