Company: GSHRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075907
Chunk: 21

Company: Gesher Acquisition Corp. II
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 Restated Articles; and (v) prior to the closing of the initial Business Combination, only holders of the Class
B Ordinary Shares are entitled to vote on (x) the appointment and removal of directors or (y) continuing the Company in a jurisdiction
outside the Cayman Islands (including any special resolution required to amend the Company’s constitutional documents or to adopt
new constitutional documents, in each case, as a result of the Company approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands).

Promissory Note — Related Party

The Sponsor agreed to loan the Company an aggregate
of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering pursuant to a promissory note (the “IPO
Promissory Note”). The loan was non-interest bearing, unsecured and due at the earlier of May 31, 2025 or the closing of the
Initial Public Offering. On March 24, 2025, the Company repaid the total outstanding balance of the IPO Promissory Note amounting to $162,616.
Borrowings under the IPO Promissory Note are no longer available.

12

GESHER ACQUISITION CORP. II

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Administrative Services Agreement

The Company entered into an agreement with an
affiliate of the Sponsor, commencing on March 24, 2025 through the earlier of the Company’s consummation of the initial Business
Combination and its liquidation, to pay the affiliate of the Sponsor an aggregate of $10,000 per month for office space, utilities, and
secretarial and administrative support (the “Administrative Services Agreement”). For the three and six months ended June
30, 2025, the Company incurred $30,000 under the Administrative Services Agreement of fees which are recorded in accrued expenses in the
accompanying condensed balance sheets as of June 30, 2025.

Working Capital Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, enter into Working Capital Loans as may be required. If the Company completes a Business Combination, the Company
would repay the Working Capital Loans. In the event that a Business Combination does not close, the Company may use a portion