Company: GSHRW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109193
Chunk: 21

Company: Gesher Acquisition Corp. II
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the
initial Business Combination, (ii) are entitled to registration rights and (iii) with respect to Private Placement Warrants
held by BTIG, and/or its designees, are not exercisable more than five years from the commencement of sales in the Initial Public
Offering in accordance with Financial Industry Regulatory Authority Rule 5110(g)(8).

Note 5
— Related Party Transactions

Founder
Shares

On
November 12, 2024, the Sponsor made a capital contribution of $25,000, or approximately $0.005 per share, through payments of offering
costs and expenses on the Company’s behalf, for which the Company issued 5,513,483 Class B Ordinary Shares (the “Founder
Shares”) to the Sponsor. Up to 622,231 of the Founder Shares were subject to surrender by the Sponsor for no consideration depending
on the extent to which the Over-Allotment Option was exercised. On March 24, 2025, the Underwriters exercised their Over-Allotment Option
in full as part of the closing of the Initial Public Offering. As such, the 622,231 Founder Shares are no longer subject to forfeiture.
The Sponsor is holding 5,198,483 Founder Shares, after giving effect to the Founder Share interest assignment described below.

12

GESHER
                                            ACQUISITION CORP. II

NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

SEPTEMBER
30, 2025

On
March 5, 2025, the Sponsor granted membership interests equivalent to an aggregate of 315,000 Founder Shares to the four independent
directors, the chief financial officer (“CFO”), and two service providers, in exchange for their services as independent
directors, CFO, and service providers, respectively, to the Company through the initial Business Combination. The Founder Shares, represented
by such membership interests, will remain with the Sponsor if the holder of such membership interests is no longer serving the Company
prior to the initial Business Combination. The membership interest assignment of the Founder Shares to the holders of such interests
are in the scope of ASC 718. Under ASC 718, share-based compensation associated with equity-classified awards is measured at fair value
upon the assignment date. The total fair value of the 315,000 Founder Shares represented by