Company: SDHIU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001213900-25-104714
Chunk: 63

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 respect to any founder shares (the “Lock-up”). Notwithstanding the foregoing, if (1) the closing price of the Class A
ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial
Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the
Company’s shareholders having the right to exchange their shares for cash, securities or other property, the founder shares will
be released from the Lock-up.

Promissory Note — Related Party

The Sponsor had agreed to loan the Company an
aggregate of up to $300,000, as amended, to be used for a portion of the expenses of the Initial Public Offering. The loan was non-interest
bearing and unsecured. The promissory note was payable on the date on which the Company consummated the Initial Public Offering, out of
the $750,000 of offering proceeds that has been allocated to the payment of offering expenses, from amounts available for working capital
or from the net proceeds of the offering and the sale of the Private Placement Units not held in the Trust Account. As of September 30,
2025, all amounts that the Company had borrowed under the promissory note have been repaid. Any additional borrowings under the note are
no longer available.

Administrative Support Fee

The Company entered into an agreement, commencing
on March 31, 2025, to pay a monthly technology, software, computer, systems, administrative support, secretarial services and infrastructure
fee of $15,000 to Siddhi Capital Holdings, until the earlier of an initial Business Combination or liquidation of the Company. For the
three and nine months ended September 30, 2025, the Company incurred $45,000 and $90,000 in fees for these services, of which $60,000
is included in accrued expenses in the accompanying condensed balance sheets. For the period from July 5, 2024 (inception) through September
30, 2024, the Company did not incur any fees for these services.

Consultant Services Agreement

A consulting firm affiliated with the Company’s
Chief Financial Officer provides accounting services to the Company. The consultant shall be paid a monthly fee of