Company: OBA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109993
Chunk: 95

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 95
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IPO Promissory Note

Prior to the closing of our Initial Public Offering,
our Sponsor agreed to loan us an aggregate of up to $300,000 under the IPO Promissory Note. Such loans and advances were non-interest
bearing and payable on the earlier of December 31, 2025 or the completion of our Initial Public Offering. As of June 26, 2025, we had
borrowed $242,318 under the IPO Promissory Note. On June 26, 2025, we paid $267,627 to the Sponsor, resulting in an overpayment of $25,309
that is recorded as a related party receivable. On July 1, 2025, the Sponsor paid us $25,309. As a result, the related party receivable
has been reduced to $0. The IPO Promissory Note was non-interest bearing and no amounts were outstanding as of September 30, 2025. Borrowings
under the IPO Promissory Note are no longer available.

Working Capital Loans

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us Working Capital Loans, as may be required. If we complete a Business Combination, we
may repay such Working Capital Loans. In the event that a Business Combination does not close, we may use a portion of the working capital
held outside the Trust Account to repay such Working Capital Loans, but no proceeds from our Trust Account would be used for such repayment.
Up to $1,500,000 of such Working Capital Loans may be converted into warrants of the post-Business Combination entity at a price of $1.00
per warrant. The warrants would be identical to the Private Placement Warrants. Other than as set forth above, the terms of such Working
Capital Loans, if any, have not been determined and no written agreements exist with respect to such Working Capital Loans. As of September
30, 2025, we did not have any borrowings under any Working Capital Loans.

Going Concern

In connection with our assessment
of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements—Going Concern”,
Management has determined that we currently lack the liquidity we need to sustain operations for a reasonable period of time, which is
considered to be at least one year from the