Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 18

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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mated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating
to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions
from the Trust Account with respect to their founder shares if the Company fails to complete the initial Business Combination within the
Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares
they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions
from assets outside the Trust Account; and (iv) vote any founder shares held by them and any public shares purchased during or after
the Initial Public Offering (including in open market and privately negotiated transactions, aside from shares they may purchase in compliance
with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted in favor of approving the Business Combination)
in favor of the initial Business Combination.

10

WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

NOTE 5. RELATED PARTY TRANSACTIONS

Founder shares

On January 13, 2025, the Sponsor made a capital contribution of
$25,000, or approximately $0.004 per share, to cover certain of the Company’s expenses, for which the Company issued 5,750,000 founders
shares to the Sponsor. On April 28, 2025 and April 29, 2025, the Company, through a share capitalization, issued the Sponsor an additional
575,000 and 1,178,750 Class B ordinary shares, respectively, as a result of which the Sponsor has purchased and holds an aggregate of
7,503,750 Class B ordinary shares. All share and per share data has been retrospectively presented. Up to 978,750 of the founder shares
were subject to surrender by the Sponsor for no consideration depending on the extent to which the underwriters’ over-allotment
option was exercised. On May 19, 2025, the underwriters exercised their over-allotment option in full as part of the closing of the Initial
Public Offering. As such, the 978,750 founder shares are no longer subject to forfeiture.

The Company’s initial shareholders have
agreed not to transfer, assign or sell any of their founder shares and