Company: MACIW
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001410578-25-000412
Chunk: 11

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-03-21
Form: 10-K
Item: Item 13C
Chunk 11
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Item 13.Certain Relationships and Related Transactions, and Director Independence.

On March 11, 2024, our Sponsor paid $25,000, or approximately $0.004 per share, to cover certain of our Initial Public Offering costs in exchange for 6,060,811 Founder Shares.

The number of Founder Shares outstanding was determined based on the expectation that the total size of the Initial Public Offering would be a maximum of 17,250,000 Units if the underwriters’ over-allotment option is exercised in full, and therefore that such Founder Shares would represent 26% of the outstanding shares after the Initial Public Offering. Up to 790,541 of the Founder Shares would be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment is exercised. On July 24, 2024, 439,189 Founder Shares were forfeited by the Sponsor.

Simultaneously with the closing of the Initial Public Offering, our Sponsor and the underwriters of the Initial Public Offering purchased an aggregate of 5,000,000 Private Placement Warrants, each exercisable to purchase one Class A Ordinary Share at $11.50 per share, at a price of $1.00 per warrant, or $5,000,000 in the aggregate, in a Private Placement. Of those 5,000,000 Private Placement Warrants, our Sponsor purchase 3,500,000 Private Placement Warrants and the underwriters purchased 1,500,000 Private Placement Warrants. The Private Placement Warrants are identical to the Public Warrants sold in the Initial Public Offering except that, so long as they are held by our Sponsor, the underwriters, or their permitted transferees, the Private Placement Warrants (i) may not (including the Class A Ordinary Shares issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial Business Combination, (ii) will be entitled to registration rights and (iii) with respect to Private Placement Warrants held by the underwriters and/or their designees, will not be exercisable more than five years from the commencement of sales in this offering in accordance with FINRA Rule 5110(g)(8).