Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 86

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 be required. If we complete a Business Combination, we
will 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 date that the unaudited condensed financial statements and the notes thereto included in this Report
under Item 1. “Financial Statements” are issued, as we expect to continue to incur significant costs in pursuit of our acquisition
plans. In addition, Management has determined that if we are unable to complete an initial Business Combination within the Combination
Period, then we will cease all operations except for the purpose of liquidating. These conditions raise substantial doubt about our ability
to continue as a going concern. Management plans to consummate an initial Business Combination prior to the end of the Combination Period.
No adjustments have been made to the carrying amounts of assets or liabilities should we be required to liquidate after May 19, 2027.
There can be no assurance that our plans to raise capital or to consummate an initial Business Combination will be successful.

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than as follows:

Administrative Services Agreement

Commencing on May 16, 2025, and until the completion
of our Business Combination or liquidation, we reimburse an affiliate of the Sponsor $12,500 per month for office space, utilities, and
secretarial and administrative support pursuant to the Administrative Services Agreement.