Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 43

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 8
Chunk 43
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WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS 

Wen Acquisition Corp (the “Company”) is a blank check company incorporated as a Cayman Islands exempted corporation
on January 13, 2025. The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The
Company has not selected any specific Business Combination target, and the Company has not, nor has anyone on its behalf, engaged in any
substantive discussions, directly or indirectly, with any Business Combination target with respect to an initial Business Combination
with the Company.

As of March 31, 2025, the Company had not commenced
any operations. All activity for the period from January 13, 2025 (inception) through March 31, 2025 relates to the Company’s
formation, and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate
any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating
income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering (as defined
below). The Company has selected December 31 as its fiscal year end.

The Company’s Sponsor is Wen Sponsor LLC
(the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on May
15, 2025. On May 19, 2025, the Company consummated the Initial Public Offering of 30,015,000 units at $10.00 per unit (the “Units”),
which is discussed in Note 3, which includes the full exercise of the underwriters’ over-allotment option of 3,915,000 Units,
generating gross proceeds of $300,150,000.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of an aggregate of 7,220,000 Private Placement Warrants (the “Private Placement
Warrants”) to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters of the Initial Public Offering,
at a price of $