Company: SDHIU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073707
Chunk: 31

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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2025, we consummated the Initial Public
Offering of 27,600,000 units at $10.00 per Unit, which includes the full exercise of the underwriter’s over-allotment option.
Simultaneously with the closing of the Initial Public Offering, we consummated the sale of an aggregate of 338,000 Private Placement Units
to the Sponsor at a price of $10.00 per unit, generating gross proceeds of $3,380,000.

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Private Units, a total of $277,380,000 was placed in the Trust Account. We
incurred $9,056,885, consisting of $250,000 of cash underwriting fee, $8,280,000 of deferred underwriting fee, and $526,885 of other offering
costs.

For the six months ended June 30, 2025, cash used
in operating activities was $383,876. Net loss of $5,649,702 was affected by interest earned on investments held in the Trust Account
of $2,867,491. Changes in operating assets and liabilities provided $8,133,317 of cash for operating activities.  

As of June 30, 2025, we had investments held in
the Trust Account of $280,247,491 (including approximately $2,867,491 of interest income) consisting of U.S. Treasury Bills with a maturity
of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies.  

As of June 30, 2025, we had cash of $884,323.
We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence
on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their
representatives or owners,