Company: AAM-UN
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073653
Chunk: 50

Company: AA Mission Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 50
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 Company issued a convertible promissory note in the principal amount of $1,000,000 to AA Mission Acquisition Sponsor
Holdco LLC (the “Sponsor”) to fund working capital needs and expenses related to the Company’s initial business combination
(the “Convertible Promissory Note”). The Convertible Promissory Note is non-interest bearing and matures upon the closing
of a business combination. The note may not be prepaid without the Sponsor’s consent.

At the Sponsor’s election, all or a portion
of the unpaid principal amount of the Convertible Promissory Note may be converted into private units of the Company at a conversion price
of $10.00 per unit, with each unit consisting of the same securities issued in the Company’s initial public offering. The number
of units to be received by the Sponsor in connection with such conversion shall be determined by dividing (x) the sum of the outstanding
principal amount payable to the Sponsor by (y) $10.00. No fractional units will be issued upon conversion, and any remaining balance will
be paid in cash. If the Company does not consummate a business combination, the Convertible Promissory Note will only be repaid from funds
held outside of the trust account, if any.

As of June 30, 2025, the outstanding balance under
the Convertible Promissory Note was $1,000,000.

Other Contractual Obligations

Registration Rights

Pursuant to a registration rights agreement dated
on the effectiveness of the Registration Statement on July 31, 2024, the holders of the Founder Shares, Private Placement Units (including
securities contained therein), and units (including securities contained therein) that may be issued on conversion of working capital
loans or extension loans (and) are entitled to registration rights pursuant to a registration rights agreement signed on the effective
date of this offering requiring the Company to register such securities for resale. The holders of these securities are entitled to make
up to three demands, excluding short form demands, that the Company’s register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the Company completion of initial
business combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities
Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The Company granted the underwriters a 45-day
option