Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 62

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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 ended
September 30, 2025, and for the period from January 13, 2025 (inception) through September 30, 2025, the Company did not withdraw any
interest earned in the Trust Account.

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the accompanying unaudited condensed balance sheet, primarily due to its short-term nature.

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant
adverse impact on the Company’s financial condition, results of operations, and cash flows. 

Offering Costs Associated with the Initial
Public Offering

The Company complies with the requirements of
the FASB ASC Topic 340-10-S99, “Other Assets and Deferred Costs - SEC Materials”, and SEC Staff Accounting Bulletin Topic
5A, “Expenses of Offering.” Deferred offering costs consist principally of professional and registration fees that are related
to the Initial Public Offering. FASB ASC Topic 470-20, “Debt with Conversion and Other Options,” addresses the allocation
of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial
Public Offering proceeds from the Units between Public Shares and Public Warrants, using the residual method by allocating Initial Public
Offering proceeds first to assigned value of the Public Warrants and then to the Public Shares. Offering costs allocated to the Public
Shares were charged to temporary equity. Offering costs allocated to the Warrants were charged to shareholders’ deficit as the Warrants
were accounted for under equity treatment based on the equity classification of the underlying financial instruments, after Management’s
evaluation.

9

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

Income Taxes

The Company accounts for income taxes under FASB
ASC Topic 740, “Income Taxes” (“ASC 740”), which requires an asset and liability approach to financial accounting
and reporting for income taxes. Deferred income tax assets and liabilities