Company: GSHRW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109193
Chunk: 110

Company: Gesher Acquisition Corp. II
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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 30, 2024, we had no activity.

As of September 30, 2025, we had marketable securities
held in the Trust Account of $147,300,306 (including $3,119,056 of interest income earned to date). We may withdraw interest from the
Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing
interest earned on the Trust Account (which interest shall be net of taxes payable, if any, and exclude the Deferred Underwriting Fee),
to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete
our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of
the target business or businesses, make other acquisitions and pursue our growth strategies.

To
mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases
the longer that we hold investments in the Trust Account, we may, at any time (based on our Management Team’s ongoing assessment
of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a
bank.

As
of September 30, 2025, we had cash of $1,312,829 held outside of the Trust Account. We use the funds held outside the Trust Account primarily
to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material
agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

Our
liquidity needs through September 30, 2025 have been satisfied through (i) a contribution of $25,000 from the Sponsor in exchange for
the issuance of our Founder Shares, (ii) a loan pursuant to the IPO Promissory Note and (iii) the net proceeds from the consummation
of the Initial Public Offering and the Private Placement held outside the Trust Account.

IPO
Promissory Note

Prior
to the closing of our Initial Public Offering, our Sponsor agreed to loan us an aggregate of up to $300,000 to be used