Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 36

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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writers, upon the completion of the initial Business Combination subject
to the terms of the Underwriting Agreement.

Working Capital Loans

In order to fund working capital deficiencies
or finance transaction costs in connection with a 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 Working Capital Loans as may be required. If we complete a Business Combination,
we may repay such Working Capital Loans out of the proceeds of the Trust Account released to us. 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 convertible into
warrants of the post-Business Combination entity at a price of $10.00 per warrant, at the option of the lender. As of June 30, 2025, we
did not have any outstanding Working Capital Loans.

20

Critical Accounting Estimates and Policies

The preparation of unaudited condensed financial
statements and related disclosures in conformity with GAAP requires Management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements
and the notes thereto included in this Report under “Item 1. Financial Statements”, and income and expenses during the periods
reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates as of
June 30, 2025.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment
expenses. The standard was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024, with early adoption permitted. We adopted this ASU 2023-07 August 6, 2024, the date of our incorporation. Adoption
of the new standard did not have a material impact on the unaudited condensed financial statements and the notes thereto included in this
Report under “Item 1. Financial Statements”.

.

In December 2023, the FASB issued ASU 2023-09,
which provides for additional disclosures primarily