Company: AAM-UN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107616
Chunk: 53

Company: AA Mission Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 53
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 such Working Capital Loans by our Sponsor or its affiliates, or our officers
and directors, if any, have not been determined and no written agreements exist with respect to such loans.

4

With reference to the above, on May 22, 2025, the Company issued a
convertible promissory note in the principal amount of $1,000,000 to AA Mission Acquisition Sponsor Holdco LLC (the “Sponsor”)
to fund working capital needs and expenses related to the Company’s initial business combination (the “Convertible Promissory
Note”). The Convertible Promissory Note is non-interest bearing and matures upon the closing of a business combination. The note
may not be prepaid without the Sponsor’s consent.

At the Sponsor’s election, all or a portion of the unpaid principal
amount of the Convertible Promissory Note may be converted into private units of the Company at a conversion price of $10.00 per unit,
with each unit consisting of the same securities issued in the Company’s initial public offering. The number of units to be received
by the Sponsor in connection with such conversion shall be determined by dividing (x) the sum of the outstanding principal amount payable
to the Sponsor by (y) $10.00. No fractional units will be issued upon conversion, and any remaining balance will be paid in cash. If the
Company does not consummate a business combination, the Convertible Promissory Note will only be repaid from funds held outside of the
trust account, if any.

As of September 30, 2025, the outstanding balance under the Convertible
Promissory Note was $1,000,000.

Other Contractual Obligations

Registration Rights

Pursuant to a registration rights agreement dated on the effectiveness
of the Registration Statement on July 31, 2024, the holders of the Founder Shares, Private Placement Units (including securities contained
therein), and units (including securities contained therein) that may be issued on conversion of working capital loans or extension loans
(and) are entitled to registration rights pursuant to a registration rights agreement signed on the effective date of this offering requiring
the Company to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding
short form demands, that the Company’s register such securities. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to the Company completion of initial business combination
and rights to require