Company: NBRG
Filing Date: 2025-06-24
Form Type: DRS/A
Source: 0001213900-25-056981
Chunk: 254

Company: Newbridge Acquisition Ltd
Filing Date: 2025-06-24
Form: DRS/A
Chunk 254
---
 and 1,038,750 Class B ordinary shares held by our sponsor, over which Yongsheng Liu and Jining Li jointly have voting and investment discretion. Immediately after this offering (without the exercise of the underwriters’ over -allotmentoption), our initial shareholders will beneficially own approximately 21.67% of the then issued and outstanding ordinary shares (assuming our initial shareholders do not purchase any units in this offering). Because of this ownership block, our initial shareholders may be able to effectively influence the outcome of all matters requiring approval by our shareholders, including the appointment of directors, amendments to our amended and restated memorandum and articles of association and approval of significant corporate transactions.

151 To the extent the underwriters do not exercise the over -allotmentoption, up to an aggregate of 187,500 founder shares held by the sponsor will be subject to forfeiture. The sponsor will be required to forfeit only a number of founder shares necessary to maintain our initial shareholders’ 20% ownership interest in our ordinary shares (assuming our initial shareholders do not purchase any units in this offering and excluding the private units) after giving effect to the offering and without giving effect to the exercise, if any, of the underwriters’ over -allotmentoption. Subject to certain limited exceptions, our initial shareholders have agreed not to transfer, assign or sell their founder shares until six months after the date of the consummation of our initial business combination or earlier if, subsequent to our initial business combination, we consummate a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding the foregoing if the last reported sale price of our ordinary shares equal or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganization, recapitalizations and other similar transactions) for any 20 trading days within any 30 trading day period commencing at least 150 days after our initial business combination the founder shares will not be subject to such transfer restrictions. During the lock -upperiod, the holders of these shares will not be able to sell or transfer their securities except (1) to our officers, directors, shareholders, employees and members of the sponsor and their affiliates, (2) if a holder is an entity, as a distribution to its, partners, shareholders or members upon its liquidation, (3) by bona fide gift to a member of the holder’s immediate family