Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 54

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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,150,000 (the “Initial Public Offering”). Each Unit consists of one Class A
ordinary share, par value $0.0001 per share, of the Company (the “Class A Ordinary Shares” and with respect to the Class
A Ordinary Shares included in the Units, the “Public Shares”) and one-third of one redeemable warrant (each, a “Public
Warrant”).

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of an aggregate of 7,220,000 Private Placement Warrants (the “Private Placement
Warrants” and together with the Public Warrants, the “Warrants”) at a price of $1.00 per Private Placement Warrant,
in a private placement to the Sponsor and Cantor Fitzgerald & Co. (“Cantor”), the representative of the several underwriters
of the Initial Public Offering (the “Underwriters”), generating gross proceeds to the Company of $7,220,000 (the “Private
Placement”). Each Warrant entitles the holder to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to
adjustment. Of those 7,220,000 Private Placement Warrants, the Sponsor purchased 4,610,000 Private Placement Warrants and Cantor purchased
2,610,000 Private Placement Warrants.

Transaction costs amounted to $20,196,742, consisting
of $5,220,000 of cash underwriting fee, the Deferred Fee (as defined in Note 6) of $14,289,750, and $686,992 of other offering costs.

The Company’s management (“Management”)
has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the Private Placement,
although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination (less the
Deferred Fee).

The Business Combination must be with one or more
target businesses that together have a fair market value equal to at least 80% of the net balance in the trust account (as defined below)
(excluding the amount of the Deferred Fee held and taxes payable, if any, on the income earned on the Trust Account) at the time of the
signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination if the post-Business
Combination company owns or acquires 50% or more of the outstanding voting