Company: YCY-WT
Filing Date: 2025-09-11
Form Type: S-1/A
Source: 0001213900-25-086752
Chunk: 122

Company: AA Mission Acquisition Corp. II
Filing Date: 2025-09-11
Form: S-1/A
Chunk 122
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, among other items, disclosures in business combination transactions involving SPACs and private operating companies; the condensed financial statement requirements applicable to transactions involving shell companies; the use of projections by SPACs in SEC filings in connection with proposed business combination transactions; and the potential liability of certain participants in proposed business combination transactions. The SEC declined to adopt a proposed rule under the Investment Company Act which would have provided a safe harbor for SPACs from the definition of “investment company” under Section 3(a)(1)(A) of the Investment Company Act. The SEC provided guidance on the considerations that it believes are relevant to determining whether a SPAC meets the definition of “investment company,” that investment company status is a question of facts and circumstances and that a SPAC could be an investment company at any stage of its operations. The SEC emphasized that departures from (i) the one -yeargrace period provided to issuers in Rule 3a -2under the Investment Company Act and (ii) the 18 -monthperiod permitted for blank check companies under Rule 419 under the Securities Act increased concerns that a SPAC may be considered an investment company for purposed of the Investment Company Act. If our facts and circumstances change over time, we will update our disclosure to reflect how those changes impact the risk of being considered as operating an investment company. 71 If we were deemed to be an investment company for purposes of the Investment Company Act, we may have to change our operations, wind down our operations, or register as an investment company under the Investment Company Act. Compliance with the additional regulatory burdens required under the Investment Company Act would require additional expenses for which we have not allotted funds and could increase the costs and time needed to complete a business combination or impair our ability to complete a business combination. If we have not completed our initial business combination within the required time period, our public shareholders may receive only approximately $10.025 per share, or less in certain circumstances, on the liquidation of our trust account and our warrants will expire worthless, and our public shareholders would also lose the possibility of an investment opportunity in a target company as well as any potential appreciation in the combined company following a business combination. Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business combination, and results of operations. We are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to comply with certain