Company: AAM-UN
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073653
Chunk: 16

Company: AA Mission Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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, 2024. The
Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation from
its position.

There is currently no taxation
imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied
on the Company. Consequently, income taxes are not reflected in the Company’s condensed financial statements.

Ordinary Shares Subject to Possible Redemption

The Company accounts for
its ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption (if any) is classified
as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features
redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not
solely within the Company’s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’
equity. The Company’s ordinary shares features certain redemption rights that are considered to be outside of the Company’s
control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented
at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. The Company
recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal
the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares
are affected by charges against additional paid in capital and accumulated deficit.

F-11

As of June 30, 2025, the
ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

    Public offering proceeds 
    $300,000,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (21,300,000)
  
    Allocation of offering costs related to redeemable shares 
     (11,700,113)
  
    Plus: 

    Accretion of carrying value to redemption value 
     34,500,113 
  
    Ordinary shares subject to possible redemption 
    $301,500,000 

    Over-allotment 

    Plus: 

    Over-allotment proceeds 
     45,000