Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 77

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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A Ordinary Shares underlying the Public
Warrants, multiplied by the excess of the “fair market value” of the Class A Ordinary Shares over the exercise price
of the Public Warrants by (y) the fair market value. The “fair market value” is the average reported closing price of
the Class A Ordinary Shares for the 10 trading days ending on the third trading day prior to the date on which
the notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of Public Warrants,
as applicable.

Redemption of Warrants When the Price per
Class A Ordinary Share Equals or Exceeds $18.00

The Company may redeem the outstanding Warrants:

    ●
    in whole and not in part;

    ● at a price of $0.01 per Warrant; 

    ● upon a minimum of 30 days’ prior written notice of redemption; and 

    ● if, and only if, the closing price of the Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of Class A Ordinary Shares issuable upon exercise or the exercise price of a Warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after completion of the initial Business Combination and ending three business days before the Company sends the notice of redemption to the warrant holders. 

Additionally, if the number of outstanding Class A
Ordinary Shares is increased by a share capitalization payable in Class A Ordinary Shares, or by a subdivision of Ordinary Shares
or other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Class A
Ordinary Shares issuable on exercise of each Warrant will be increased in proportion to such increase in the outstanding Ordinary Shares.
A rights offering made to all or substantially all holders of Ordinary Shares entitling holders to purchase Class A Ordinary Shares
at a price less than the fair market value will be deemed a share capitalization of a number of Class A Ordinary Shares equal to
the product of (i) the number of Class A Ordinary Shares actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for Class A Ordinary Shares) and (ii