Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 35

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 be used for a portion of the expenses of the Initial Public Offering pursuant to the IPO Promissory Note. The IPO Promissory
Note was non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As
of June 26, 2025, we had borrowed $242,318 under the IPO Promissory Note. On June 26, 2025, we paid $267,627 to the Sponsor, resulting
in an overpayment of $25,309 that is recorded as a related party receivable. The IPO Promissory Note was non-interest bearing and no amounts
are outstanding as of June 30, 2025. Borrowings under the IPO Promissory Note are no longer available.

Administrative Services Agreement

Commencing on the June 26, 2025, we entered into
the “Administrative Services Agreement with an affiliate of the Sponsor to pay an aggregate of $12,500 per month for office space,
utilities, and secretarial and administrative support. Upon completion of the initial Business Combination or our liquidation, we will
cease paying the $12,500 per month fee.

As of June 30, 2025 and December 31, 2024, there
was $2,083 and $0, respectively, due to related party pursuant to the Administrative Services Agreement. We incurred $2,083 for the three
and six months ended June 30, 2025.

Underwriting Agreement

We granted the underwriters of the Initial Public
Offering a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,300,000 Option Units to cover
over-allotments, if any. On June 26, 2025, the underwriters fully exercised their Over-Allotment Option.

The underwriters were paid a cash underwriting
discount of $4,400,000 (2.0% of the gross proceeds of the Units offered in the Initial Public Offering). Additionally, the underwriters
are entitled to the Deferred Dee of 4.50% of the gross proceeds of the base Initial Public Offering held in the Trust Account and 6.50%
of the gross proceeds sold pursuant to the Over-Allotment Option, which equates to $12,045,000 in the aggregate following the full
exercise of the Over-Allotment Option and is payable to the under