Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 64

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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% of the Public Shares if the Company does not complete an initial Business Combination within the completion window or
(2) any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, or if there is
a shareholder vote or tender offer in connection with the initial Business Combination. In accordance with FASB ASC Topic 480-10-S99,
“Distinguishing Liabilities from Equity”, the Company classifies Public Shares subject to possible redemption outside of permanent
equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value
immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting
period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption
value. The change in the carrying value of redeemable Class A Ordinary Shares resulted in charges against additional paid-in capital (to
the extent available) and accumulated deficit. Accordingly, as of September 30, 2025, Class A Ordinary Shares subject to possible redemption
are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the accompanying unaudited
condensed balance sheet. As of September 30, 2025, the Class A Ordinary Shares subject to possible redemption reflected in the accompanying
unaudited condensed balance sheet are reconciled in the following table:

    Gross proceeds 
    $300,150,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (2,641,320)
  
    Class A Ordinary Shares issuance cost 
     (20,003,016)
  
    Plus: 

    Accretion of carrying value to redemption value 
     24,047,939 
  
    Class A Ordinary Shares subject to possible redemption, June 30, 2025 
     301,553,603 
  
    Plus: 

    Accretion of carrying value to redemption value 
     3,259,210 
  
    Class A Ordinary Shares subject to possible redemption, September 30, 2025 
    $304,812,813 

10

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

Net Income Per Ordinary Share

The Company complies with accounting and disclosure
requirements of FASB ASC