Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 89

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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6,400,000.

We incurred offering costs of $16,987,383, consisting
of $4,400,000 of cash underwriting fee, $12,045,000 of Deferred Fee, and $542,383 of other offering costs.

Upon the closing of the Initial Public Offering
and the Private Placement, approximately $253,000,000 ($10.00 per Unit) of the net proceeds of the Initial Public Offering and certain
of the proceeds of the Private Placement were placed in the Trust Account, located in the United States with Continental acting as trustee,
and will be invested only in United States “government securities” within the meaning of Section 2(a)(16) of the Investment
Company Act, having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated
under the Investment Company Act which invests only in direct U.S. government treasury obligations, as determined by us, until the earlier
of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below.

We may seek to extend the Combination Period consistent
with applicable laws, regulations and stock exchange rules by amending our Amended and Restated Articles. Any such amendment would require
the approval of our Public Shareholders, who will be provided the opportunity to redeem all or a portion of their Public Shares in connection
with the vote on such approval. Such redemptions will decrease the amount held in our Trust Account and our capitalization, and may affect
our ability to maintain our listing on Nasdaq. In addition, the Nasdaq Rules currently require SPACs (such as us) to complete their initial
Business Combination in accordance with the Nasdaq 36-Month Requirement. If we do not meet the Nasdaq 36-Month Requirement, our securities
will likely be subject to a suspension of trading and delisting from Nasdaq. Our Sponsor may also, in its discretion, consider selling
its interest in our Company to another sponsor entity, which may result in a change to our Management Team.

Recent Developments

On July 1, 2025, the Sponsor paid us $25,309.
As a result, the related party receivable has been reduced to $0.

On July 28, 2025, we appointed Jingjing (Jessie)
Yan as the President of our Company. In connection with the appointment, Ms. Yan signed a joinder