Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 164

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part II, Item 1
Chunk 164
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 Agreements and (v) the Administrative Services Agreement. These agreements contain various provisions that our Public Shareholders
might deem to be material. For example, our Letter Agreement and the Underwriting Agreement contain certain lock-up provisions with respect
to the Founder Shares and other securities held by our Sponsor, officers and directors, subject to certain exceptions. Amendments or waivers
to such agreements would require the consent of the applicable parties thereto and, in certain cases, the consent of the underwriters
of the Initial Public Offering. Any such modification, such as an amendment to shorten lock-up restrictions, may benefit our Sponsor,
officers and/or directors. Any such amendments would not require approval from our shareholders, may result in the completion of our initial
Business Combination that may not otherwise have been possible, and may have an adverse effect on the value of an investment in our securities.
For example, although we would not amend lock-up provisions to permit securities held by our Sponsor to be freely sold prior to our initial
Business Combination, we may amend such provisions to permit them to be freely sold after the Business Combination earlier than they would
otherwise be permitted, which may have an adverse effect on the price of our securities.

 Item 2. Unregistered Sales of Equity
Securities and Use of Proceeds.

Unregistered Sales
of Equity Securities

Simultaneously with the
closing of the Initial Public Offering and pursuant to the Private Placement Warrants Purchase Agreements, we completed the sale of an
aggregate of 7,220,000 Private Placement Warrants to the Sponsor and Cantor in the Private Placement at a purchase price of $1.00 per
Private Placement Warrant, generating gross proceeds to us of $7,220,000. Of those 7,220,000 Private Placement Warrants, the Sponsor purchased
4,610,000 Private Placement Warrants and Cantor purchased 2,610,000 Private Placement Warrants. The Private Placement Warrants are identical
to the Warrants, except as otherwise disclosed in the IPO Registration Statement. No underwriting discounts or commissions were paid with
respect to such sale. The issuance of the Private Placement Warrants was made pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act.

23

Use of Proceeds

On May 19, 2025, we consummated
our Initial Public Offering of 30,015,000 Units , including 3,915,000 Option Units issued pursuant to the full exercise of