Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 92

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 92
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 investments in the Trust Account, we may, at any time, (based on our Management Team’s ongoing assessment
of all factors related to our potential status under the Investment Company Act) instruct the trustee to liquidate the investments held
in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing demand deposit account at a
bank

As of June 30, 2025, we had cash and cash equivalents
of $1,370,958 held outside the Trust Account. 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, review corporate documents and material agreements of prospective
target businesses, and structure, negotiate and complete a Business Combination.

19

We may need to raise additional funds in order
to meet the expenditures required for operating our business prior to our initial Business Combination. We expect to incur significant
costs related to identifying a target business, undertaking in-depth due diligence and negotiating an initial Business Combination. These
conditions raise substantial doubt about our ability to continue as a going concern for a period of time within one year from the date
that the unaudited condensed financial statements and the notes thereto included in this Report under “Item 1. Financial Statements”
are issued.

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities as of June 30, 2025.

IPO Promissory Note

The Sponsor agreed to loan us an aggregate of
up to $300,000 to be used for a portion of the expenses of the Initial Public Offering pursuant to the IPO Promissory Note. The IPO Promissory
Note was non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As
of June 26, 2025, we had borrowed $242,318 under the IPO Promissory Note. On June 26, 2025, we paid $267,627 to the Sponsor, resulting
in an overpayment of $25,309 that is recorded as a related party receivable. The IPO Promissory Note was non-interest bearing and no amounts
are outstanding as of June 30, 2025. Borrowings under the IPO Promissory Note