Company: SDHIU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001213900-25-104714
Chunk: 16

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---

vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company
classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control
of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable
shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering,
the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares
will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of September
30, 2025 and December 31, 2024, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary
equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets. As of September 30, 2025,the
Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:

    Gross proceeds 
    $276,000,000 
  
    Less: 

    Proceeds allocated to Public Rights 
     (4,084,800)
  
    Class A ordinary shares issuance cost 
     (8,916,563)
  
    Plus: 

    Accretion of carrying value to redemption value 
     14,381,363 
  
    Class A ordinary Shares subject to possible redemption, April 2, 2025 
     277,380,000 
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,867,491 
  
    Class A ordinary Shares subject to possible redemption, June 30, 2025 
     280,247,491 
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,996,664 
  
    Class A ordinary Shares subject to possible redemption, September 30, 2025 
    $283,244,155 

8

SIDDHI ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

Net Income (Loss) Per Ordinary Share

The Company complies with accounting and disclosure
requirements of FASB ASC Topic 260, “Earnings