Company: GSHRW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109193
Chunk: 72

Company: Gesher Acquisition Corp. II
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 probable and therefore no compensation expense has been recognized.

The
Founder Shares are designated as Class B Ordinary Shares and, except as described below, are identical to the Public Shares and holders
of Founder Shares have the same shareholder rights as Public Shareholders, except (i) the Founder Shares are subject to certain
transfer restrictions, as described in more detail below; (ii) the Founder Shares are entitled to registration rights; (iii) the
Sponsor and the Company’s officers and directors have entered into the Letter Agreement with the Company, pursuant to which they
have agreed to many limitations on the Founder Shares (see Note 1); (iv) the Founder Shares are automatically convertible into Class
A Ordinary Shares in connection with the consummation of the initial Business Combination or earlier at the option of the holder on a
one-for-one basis, subject to adjustment as described herein and in the Amended and Restated Articles; and (v) prior to the closing
of the initial Business Combination, only holders of the Class B Ordinary Shares are entitled to vote on (x) the appointment and removal
of directors or (y) continuing the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to
amend the Company’s constitutional documents or to adopt new constitutional documents, in each case, as a result of the Company
approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands).

IPO
Promissory Note — Related Party

The
Sponsor agreed to loan the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering
pursuant to a promissory note (the “IPO Promissory Note”). The loan was non-interest bearing, unsecured and due at the earlier
of May 31, 2025 or the closing of the Initial Public Offering. On March 24, 2025, the Company repaid the total outstanding balance
of the IPO Promissory Note amounting to $162,616. Borrowings under the IPO Promissory Note are no longer available.

Administrative
Services Agreement

The
Company entered into an agreement with an affiliate of the Sponsor, commencing on March 24, 2025 through the earlier of the Company’s
consummation of the initial Business Combination and its liquidation, to pay the affiliate of the Sponsor an aggregate of $10,000 per
month for office space, utilities,