Company: GSHRW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109193
Chunk: 17

Company: Gesher Acquisition Corp. II
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 and ASC 815.

Class
A Ordinary Shares Subject to Possible Redemption

The
Public Shares contain a redemption feature that allows for the redemption of such Public Shares in connection with the Company’s
liquidation, or if there is a shareholder vote or tender offer in connection with the initial Business Combination. In accordance with
FASB ASC Topic 480-10-S99, “Distinguishing Liabilities from Equity”, the Company classifies Public Shares subject to redemption
outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes
in redemption value immediately as they occur and will adjust the carrying value of redeemable Public Shares to equal the redemption
value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion
from initial book value to redemption value. The change in the carrying value of redeemable Public Shares will result in charges against
additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of September 30, 2025, Class A Ordinary
Shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity
(deficit) section of the accompanying condensed balance sheets. As of September 30, 2025, the Class A Ordinary Shares subject to possible
redemption reflected in the accompanying condensed balance sheets are reconciled in the following table:

    Gross proceeds 
    $143,750,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (1,890,313)
  
    Class A Ordinary Shares issuance costs 
     (8,280,209)
  
    Plus: 

    Accretion of carrying value to redemption value 
     10,715,445 
  
    Class A Ordinary Shares subject to possible redemption, March 31, 2025 
     144,294,923 
  
    Plus: 

    Accretion of carrying value to redemption value 
     1,497,409 
  
    Class A Ordinary Shares subject to possible redemption, June 30, 2025 
     145,792,332 
  
    Plus: 

    Accretion of carrying value to redemption value 
     1,507,974 
  
    Class A Ordinary Shares subject to possible redemption, September 30, 2025 
    $147,300,306 

10

GESHER
                                            ACQUISITION