Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 6

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 applicable law,
or (iii) the redemption of the Company’s public shares properly submitted in connection with a shareholder vote to amend the
Company’s amended and restated memorandum and articles of association to (A) modify the substance or timing of the Company’s
obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Company’s public shares
if the Company has not consummated 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. The proceeds deposited in the
Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of
the Company’s public shareholders.

5

WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

The Company will provide the Company’s public
shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination
either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder
vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business
Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled
to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated
as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds
held in the Trust Account (less taxes payable), divided by the number of then outstanding public shares, subject to the limitations. At
the closing of the Initial Public Offering, the amount in the Trust Account was $10.00 per public share.

The ordinary shares subject to redemption were
recorded at a redemption value and classified as temporary equity at the completion of the Initial Public Offering, in accordance with
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing
Liabilities from Equity.”

The Company will have only the duration of the
Completion Window to complete the initial Business Combination. However, if the Company is unable to complete its initial Business Combination
within the Completion Window