Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 34

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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015,000 shares subject to possible redemption.

13

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Class B Ordinary Shares

The Company is authorized to issue a total of
50,000,000 Class B Ordinary Shares at par value of $0.0001 each. On January 13, 2025, the Company issued 5,750,000 Class B
Ordinary Shares to the Sponsor for $25,000, or approximately $0.004 per share. On April 28, 2025 and on April 29, 2025, the Company, through
a share capitalization, issued the Sponsor an additional 575,000 and 1,178,750, respectively, Class B Ordinary Shares, as a result of
which the Sponsor has purchased and holds an aggregate of 7,503,750 Class B Ordinary Shares. All share and per share data has been retrospectively
presented. The Founder Shares include an aggregate of up to 978,750 shares subject to forfeiture if the Over-Allotment Option is not exercised
by the underwriters in full. On May 19, 2025, the underwriters exercised their over-allotment option in full as part of the closing of
the Initial Public Offering. As such, the 978,750 Founder Shares are no longer subject to forfeiture.

The Founder Shares will automatically convert into Class A Ordinary
Shares concurrently with or immediately following the consummation of the initial Business Combination or earlier at the option of the
holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations
and the like, and subject to further adjustment as provided herein. In the case that additional Class A Ordinary Shares, or any other
equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related to or in
connection with the closing of the initial business combination, the ratio at which Class B Ordinary Shares convert into Class A
Ordinary Shares will be adjusted (unless the holders of a majority of the outstanding Class B Ordinary Shares agree to waive such
adjustment with respect to any such issuance or deemed issuance) so that the number of Class A Ordinary Shares issuable upon conversion
of all Class B Ordinary Shares will equal, in the aggregate,