Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 16

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2025 (File
No. 333-28682) was declared effective on May 15, 2025 (the “IPO Registration Statement”). On May 19, 2025, the Company consummated
the initial public offering of 30,015,000 units at $10.00 per unit (the “Units”), which is discussed in Note 3,
which includes the full exercise of the underwriters’ over-allotment option of 3,915,000 Units, generating gross proceeds of $300,150,000.
The Company’s Sponsor is Wen Sponsor LLC (the “Sponsor”).

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”) to the Sponsor and Cantor Fitzgerald & Co.,
the representative of the underwriters of the Initial Public Offering, at a price of $1.00 per warrant, or $7,220,000 in the aggregate.
Of those 7,220,000 Private Placement Warrants, the Sponsor purchased 4,610,000 Private Placement Warrants and Cantor Fitzgerald &
Co. (“Cantor”) purchased 2,610,000 Private Placement Warrants (the “Private Placement”). Each whole warrant entitles
the holder to purchase one Class A Ordinary Share at a price of $11.50 per share.

Transaction costs amounted to $20,196,742, consisting
of $5,220,000 of cash underwriting fee, $14,289,750 of deferred underwriting fee, 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 deferred
underwriting commissions).

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 deferred underwriting discounts held and taxes payable on the income earned on the Trust Account) at the time
of the signing an agreement to