Company: AEAQ
Filing Date: 2025-08-29
Form Type: DRS
Source: 0001213900-25-081972
Chunk: 267

Company: Activate Energy Acquisition Corp.
Filing Date: 2025-08-29
Form: DRS
Chunk 267
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 or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible into private units at a price of $10.00 per unit at the option of the lender at the time of the business combination. The units would be identical to the private units sold in the private placement. 173 Each of the units that may be issued upon conversion of working capital loans shall be identical to the private units. Following the expiration of the lock -updescribed under “ Principal Shareholders — Transfers of Founder Shares and Private Units” with respect to the private units, units issuable upon conversion of working capital loans and extension loans and their respective component securities, such securities will be transferable, assignable or saleable, subject to an effective registration statement covering such securities or an applicable exemption from registration. Ordinary Shares Prior to the date of this prospectus, there were 7,666,667 Class B ordinary shares outstanding, all of which were held of record by our initial shareholders, so that our initial shareholders (assuming our initial shareholders do not purchase any units in this offering) will own approximately 25% of our issued and outstanding shares after this offering (not including the Class A ordinary shares that are included within the private units). Up to 1,000,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. Upon the closing of this offering, 27,251,667 of our ordinary shares will be issued and outstanding (assuming no exercise of the underwriters’ over -allotmentoption and the corresponding surrender for no consideration of 1,000,000 founder shares) comprising: •20,000,000 Class A ordinary shares underlying public units issued as part of this offering; •585,000 Class A ordinary shares included in the private units to be sold in the private placement; and •6,666,667 Class B ordinary shares held by our initial shareholders. If we increase or decrease the size of this offering, we will effect a share capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the number of founder shares by our initial shareholders at approximately 25% of our issued