Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 92

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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 $686,992 of other offering costs.

For the period from January 13, 2025 (inception)
through June 30, 2025, cash used in operating activities was $405,651. Net income of $1,130,686 was affected by payment of operation costs
through the IPO Promissory Note of $53,670, payment of operation costs through due to sponsor of $5,455, interest earned on marketable
securities held in Trust Account of $1,403,603. Changes in operating assets and liabilities used $191,859 of cash for operating activities.   

As of June 30, 2025, we had cash and marketable
securities held in the Trust Account of $301,553,603 (including approximately $1,403,603 of interest income) consisting of short-term
debt securities issued by the U.S. Department of the Treasury with a maturity of 185 days or less. We may withdraw interest from the Trust
Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing
interest earned on the Trust Account (less income taxes payable), to complete our Business Combination. To the extent that our share capital
or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust
Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue
our growth strategies. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company
Act, which risk increases the longer that we hold investments in the Trust Account, we may, at any time, (based on our Management Team’s
ongoing assessment of all factors related to our potential status under the Investment Company Act) instruct the trustee to liquidate
the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand
deposit account at a bank.

As of June 30, 2025, we had cash of $921,309.
We use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on
prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives
or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete