Company: IPODW
Filing Date: 2025-03-07
Form Type: S-1
Source: 0001213900-25-021721
Chunk: 162

Company: Dune Acquisition Corp II
Filing Date: 2025-03-07
Form: S-1
Chunk 162
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 Class A ordinary shares (or 17,250,000 Class A ordinary shares if the underwriters’ over -allotmentoption is exercised in full) and 6,000,000 founder shares (or 6,900,000 founder shares if the underwriters’ over -allotmentoption is exercised in full) and the issuance of 112,500 representative shares to the underwriters (or 129,375 representative shares if the underwriter’s over -allotmentoption is exercised in full). Such calculations do not reflect any dilution associated with the exercise of warrants as the warrants are accounted for as equity and are only exercisable following the consummation of our initial business combination. Given that we are targeting an initial business combination with an enterprise value of $1.0 billion to $1.5 billion, we may raise additional funds through issuance of ordinary shares and/or convertible equity in connection with an initial business combination, and as a result our public shareholders may suffer significant dilution. This dilution would increase to the extent that the anti -dilutionprovision of the founder shares result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination. In addition, the exercise of any warrants would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise is utilized. Further, the issuance of additional ordinary or preference shares may significantly dilute the equity interest of public shareholders, which dilution would even further increase if the anti -dilutionprovisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the Class B ordinary shares. The following table illustrates the difference between the public offering price per unit and our NTBV per share, as adjusted to give effect to this offering and assuming redemption of our public shares at varying levels and the full exercise and no exercise of the over -allotmentoption:

| As of December 31, 2024 |                                                 |     |                |      |     |            |      |     |                |      |     |            |      |     |                |      |     |            |      |     |               |      |     |            |      |
|:------------------------|------------------------------------------------:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:---------------|-----:|: