Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 30

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 Offering (including in open market and privately negotiated
transactions, aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would
not be voted in favor of approving the Business Combination) in favor of the initial Business Combination.

11

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Note 5 — Related Party
Transactions

Founder Shares

On January 13, 2025, the Sponsor made a capital
contribution of $25,000, or approximately $0.004 per share, to cover certain of the Company’s expenses, for which the Company issued
5,750,000 of the Company’s Class B ordinary shares, par value $0.0001 per share (the “Class B Ordinary Shares”, and
together with the Class A Ordinary Shares, the “Ordinary Shares”) to the Sponsor (such shares, the “Founder Shares”).
On April 28, 2025 and on April 29, 2025, the Company, through a share capitalization, issued the Sponsor an additional 575,000 and 1,178,750,
respectively, Class B Ordinary Shares, as a result of which the Sponsor has purchased and holds an aggregate of 7,503,750 Class B Ordinary
Shares. All share and per share data has been retrospectively presented. Up to 978,750 of the Founder Shares were subject to surrender
by the Sponsor for no consideration depending on the extent to which the Over-Allotment Exercise was exercised. On May 19, 2025, the underwriters
exercised their Over-Allotment Exercise in full as part of the closing of the Initial Public Offering. As such, the 978,750 Founder Shares
are no longer subject to forfeiture.

The holders of the Founder Shares have agreed
not to transfer, assign or sell any of their Founder Shares and any Class A Ordinary Shares issued upon conversion thereof until
the earlier to occur of (i) one year after the completion of the initial Business Combination or (ii) the date on which the
Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results
in all of the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other
property. Any permitted transf