Company: NBRG
Filing Date: 2025-05-09
Form Type: DRS
Source: 0001213900-25-041372
Chunk: 328

Company: Newbridge Acquisition Ltd
Filing Date: 2025-05-09
Form: DRS
Chunk 328
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 restated memorandum and articles of association and prior to commencing any voluntary liquidation. The initial shareholders have agreed to waive their redemption rights with respect to their Founder Shares if the Company fail to consummate the initial business combination within the applicable period from the closing of this offering. However, if the initial shareholders, or any of officers, directors or affiliates acquire public shares in or after this offering, they will be entitled to redemption rights with respect to such public shares if the Company fail to consummate our initial business combination within the required time period. There will be no redemption rights or liquidating distributions with respect to the rights, which will expire worthless in the event the Company do not consummate our initial business combination within the allotted time period. The sponsor has agreed that it will be liable to us, if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target business with which we have discussed entering into a transaction agreement, reduce the amounts in the trust account to below $10.00 per share (whether or not the underwriters’ over -allotmentoption is exercised in full), except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account and except as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, the sponsor will not be responsible to the extent of any liability for such third party claims. We have not independently verified whether the sponsor has sufficient funds to satisfy its indemnity obligations and believe that the sponsor’s only assets are securities of our company. We have not asked the sponsor to reserve for such obligations and therefore believe the sponsor will be unlikely to satisfy its indemnification obligations if it is required to do so. F-8 NEWBRIDGE ACQUISITION LIMITED
NOTES TO FINANCIAL STATEMENTS Note 1 — Organization and Business Operations (cont.) However, we believe the likelihood of the sponsor having to indemnify the trust account is limited because we will endeavor to have all vendors and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest or claim of any kind in or to monies held in the trust account. Going Concern Consideration As of December 31, 2024, the Company had a negative working capital of $459,895 and an accumulated deficit of $399,