Company: APAD
Filing Date: 2025-11-28
Form Type: 425
Source: 0001213900-25-115733
Chunk: 1

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-28
Form: 425
Chunk 1
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 as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into Material Definitive Agreement.

Business Combination Agreement

A Paradise Acquisition Corp. is a blank check company incorporated
as a British Virgin Islands business company with limited liability and formed for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“A Paradise”).
On November 26, 2025, A Paradise entered into a Business Combination Agreement (the “Business Combination Agreement”)
with A Paradise Merger Sub I, Inc., a Cayman Islands exempted company and a direct wholly owned subsidiary of A Paradise (“Merger
Sub”), and Enhanced Ltd, a Cayman Islands exempted company with limited liability (“Enhanced”). Capitalized terms used
in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Business Combination Agreement.

The Mergers

The Business Combination Agreement provides that, among other things
and upon the terms and subject to the conditions thereof, the following transactions will occur (together with the other agreements and
transactions contemplated by the Business Combination Agreement, the “Business Combination”), following the Acquiror Domestication
(as defined below):

| ● | (i) at the closing of the transactions contemplated by the Business Combination Agreement (the “Closing”), upon the terms                 
 and subject to the conditions of the Business Combination Agreement and in accordance with the Companies Act (as revised) of the Cayman   
 Islands (“Cayman Companies Act”) and the Texas Business Organizations Code (“TBOC”), (x) Merger Sub will merge                            
 with and into Enhanced, the separate corporate existence of Merger Sub will cease and Enhanced will be the surviving company and a wholly 
 owned subsidiary of A Paradise (the “First Merger”) and (y) immediately following the First Merger, Enhanced will merge with              
 and into A Paradise, the separate corporate existence of Enhanced will cease and A Paradise will be the surviving corporation