Company: IPODW
Filing Date: 2025-03-07
Form Type: S-1
Source: 0001213900-25-021721
Chunk: 173

Company: Dune Acquisition Corp II
Filing Date: 2025-03-07
Form: S-1
Chunk 173
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 services they render in order to effectuate the completion of our initial business, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates. We will reimburse our sponsor in an amount equal to $15,000 per month for utilities and secretarial and administrative support made available to us. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. Prior to the closing of this offering, our sponsor may loan us funds in an aggregate amount of up to $ 150 ,000 to be used for a portion of the expenses of this offering. These loans would be non -interest bearing, unsecured and are due at the earlier of June 30 , 2025 and the closing of this offering. As of December 31 , 2024, we had borrowed $75,000 under the promissory note with our sponsor. In order to 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 maybe required on a non -interestbasis. If we complete an initial business combination, we would repay such loaned amounts. In the event that the initial business combination does not close, we may use amounts held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into private placement warrants of the post business combination entity at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement warrants. Except as set forth above, the terms of such loans, if any, have not been determined and no 114 written agreements exist with respect to such loans. Prior to the completion of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account. Any of the foregoing payments to our sponsor, repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be made using funds held outside the trust account. After our initial business