Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 226

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 226
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 case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in
connection with our initial business combination, the number of Class A ordinary shares issuable upon conversion of all Founder
Shares will equal, in the aggregate, on an as-converted basis, 16.67% of the total number of Class A ordinary shares outstanding
after such conversion (excluding the Private Placement Shares and the ordinary shares underlying the Eagle Share Rights and after giving
effect to any redemptions of Class A ordinary shares by public shareholders), including the total number of Class A ordinary
shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued,
by the company in connection with or in relation to the consummation of the initial business combination, excluding any Class A
ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued,
to any seller in the initial business combination and any Private Placement Shares issued to our Sponsor, officers or directors upon
conversion of working capital loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.
As described above under Item 1. Business, in connection with a business combination with a combined company that has a pro forma equity
value of $3 billion or greater, our Sponsor has agreed, pursuant to the letter agreement described herein, to restructure the Founder
Shares, and any shares issuable pursuant to the anti-dilution provisions in the Founder Shares, such that the fully vested shares in
the surviving company in such business combination held by our Sponsor immediately upon the consummation of such business combination
will represent approximately 1% of such pro forma equity value of the pro forma combined company (not including any earnout or unvested
shares which may be issued, granted, held, converted or otherwise provided in connection with the consummation of the business combination)
to limit the Founder Shares’ dilutive impact. The foregoing represents the extent of the Sponsor’s commitment to restructure
such shares and because this agreement to restructure the Founder Shares is in the letter agreement, as opposed to the anti-dilution
adjustment which is in our amended and restated memorandum and articles of association, it may be amended at any time without shareholder
approval. See “Risk Factors — Our letter agreement with our Sponsor, officers and directors may be amended without shareholder
approval.”

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