Company: UAC
Filing Date: 2025-12-03
Form Type: S-1
Source: 0001493152-25-025837
Chunk: 90

Company: United Acquisition Corp. I
Filing Date: 2025-12-03
Form: S-1
Chunk 90
---
 restricted, which may make it difficult for us to complete our initial business combination.

If we are deemed to be an investment company under the Investment Company Act, our activities may be restricted, including:

| ● | restrictions                          
 on the nature of our investments; and |

| 63 |

| ● | restrictions                                                                                        
 on the issuance of securities; each of which may make it difficult for us to complete               
 our initial business combination. In addition, we may have imposed upon us burdensome requirements, 
 including:                                                                                          |

| ● | registration              
 as an investment company; |

| ● | adoption                                       
 of a specific form of corporate structure; and |

| ● | reporting,                                                                                 
 record keeping, voting, proxy and disclosure requirements and other rules and regulations. |

The 2024 SPAC Rules do not provide a safe harbor for SPACs from the definition of “investment company” under the Investment Company Act. Instead, the SEC’s adopting release provided guidance describing circumstances in which a SPAC could become subject to regulation under the Investment Company Act, including as a result of its duration, asset composition, business purpose, and the activities of the SPAC and its management team in furtherance of such goals.

In order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we must ensure that we are engaged primarily in a business other than investing, reinvesting or trading in securities and that our activities do not include investing, reinvesting, owning, holding or trading “investment securities” constituting more than 40% of our total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. Our business will be to identify and complete an initial business combination and thereafter to operate the post-transaction business or assets for the long term. We do not plan to buy businesses or assets with a view to resale or profit from their resale. We do not plan to buy unrelated businesses or assets or to be a passive investor.

We do not believe that our anticipated principal activities will subject us to the Investment Company Act. To this end, the proceeds held in the trust account will be invested or held only in either (i) U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations, (ii) as uninvested cash, or (iii