Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 23

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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D FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

The founder shares will automatically convert
into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or
earlier at the option of the holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary
shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related
to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into
Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree
to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable
upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of (i) all ordinary shares issued
and outstanding upon the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the
underwriters’ over-allotment option and excluding the Class A ordinary shares issuable upon the exercise of the private placement
warrants), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the
closing of the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller
in the initial business combination and any private placement-equivalent warrants issued to the Sponsor or any of its affiliates or to
the Company’s officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A
ordinary shares by public shareholders in connection with an initial Business Combination and any redemptions of Class A ordinary shares
by public shareholders in connection with any amendment to the amended and restated memorandum and articles of association made prior
to the consummation of the initial Business Combination (A) to modify the substance or timing of the Company’s obligation to allow
redemption in connection with the initial Business Combination or to redeem 100% of the public shares if the Company does not complete
the initial business combination within the completion window or (B) with respect to any other material provisions