Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 92

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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rights) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor or CCM until the completion of
our initial business combination.

Upon the closing of the IPO and the private placement
on July 31, 2025, a total of $200,000,000 of the net proceeds from the IPO and the Private Placement were deposited in the Trust Account
established for the benefit of the Company’s public shareholders. The funds placed in the Trust Account may only be invested in
U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule
2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations. We intend to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes
payable), to complete our business combination. To the extent that our share capital or debt is used, in whole or in part, as consideration
to complete our business combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the
operations of the target business or businesses, make other acquisitions and pursue our growth strategies. Such working capital funds
could be used in a variety of ways and could also be used to repay any operating expenses or finders’ fees which we had incurred
prior to the completion of our Business Combination or to indemnify any of our officers or directors as required by law if the funds available
to us outside of the Trust Account were insufficient to cover such expenses.

As of September 30, 2025, we had cash of $1,454,749
and a working capital of $1,165,011. The Company’s liquidity needs prior to the closing of IPO were satisfied through a payment
from the Sponsor of $25,000 for the Founder Shares and total advances from the Sponsor of $57,922 to cover certain offering costs, as
well as a loan under an unsecured promissory note from the Sponsor of $300,000 (see Note 5). We intend to use the funds held outside the
Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, structure, negotiate and consummate a business combination.

In order