Company: IPODW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111055
Chunk: 41

Company: Dune Acquisition Corp II
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 different defendants not
involved in the previously filed litigation. Captains Neck argued that if the Court was inclined to issue a Stay, it should only do so
on condition that Harry L. You and Niccolo de Masi, the moving defendants seeking the Stay, be required to post an undertaking for approximately
$9.1mm, the value of the shares that were fraudulently transferred plus applicable pre-judgement interest since the date of improper
transfer. On November 5, 2025, 3 separate groups of named parties filed motions to dismiss the claims.

While these ongoing cases do not
represent any material risk to our business, they, like any other litigation unrelated to our business affairs that involves members
of our management, could be detrimental to our reputation and could indirectly negatively affect our business going forward. 

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

On May 8, 2025, we consummated the Initial Public
Offering of 14,375,000 Units, which included the full exercise by the underwriters of their over-allotment option in the amount of 1,875,000
Units. The Units were sold at an offering price of $10.00 per unit, generating total gross proceeds of $143,750,000. Clear Street LLC.
acted as sole book-running manager of the Initial Public Offering. The securities in the offering were registered under the Securities
Act on registration statement on Form S-1 (No. 333-285639). The Securities and Exchange Commission declared the registration statements
effective on May 6, 2025.

Simultaneous with the closing of the Initial Public
Offering, the Sponsor consummated the private placement of an aggregate of 2,000,000 Private Placement Warrants at a price of $1.00 per
warrant, generating total proceeds of $2,000,000. Each whole warrant entitles the registered holder to purchase one Class A ordinary share
at a price of $11.50, subject to adjustment. The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2)
of the Securities Act.

The Private Placement Warrants are identical to
the Public Warrants sold in the Initial Public Offering except that, so long as they are held by the Sponsor, the underwriters, or their
permitted transferees, the Private Placement Warrants (i) may not (including the Class A