Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 90

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 90
---
 to the Letter Agreement pursuant to
which, among other things, Ms. Yan agreed to waive certain redemption rights and to vote any Ordinary Shares she holds in favor of an
initial Business Combination. Ms. Yan also signed a joinder to the Registration Rights Agreement, pursuant to which, among other things,
Ms. Yan was granted certain demand and “piggyback” registration rights, which will be subject to customary conditions and
limitations. Ms. Yan also entered into a standard director indemnity agreement with our Company, a form of which was filed as Exhibit
10.6 to our Current Report on Form 8-K, as filed with the SEC on June 26, 2025.

18

Results of Operations

We have neither engaged
in any operations nor generated any revenues to date. Our only activities since August 6, 2024 (inception) through June 30, 2025 have
been (i) organizational activities and (ii) activities relating to (x) the Initial Public Offering and (y) identifying and evaluating
prospective acquisition candidates and activities in connection with the initial Business Combination. We will not generate any operating
revenues until after completion of our initial Business Combination. We have generated non-operating income in the form of interest income
on investments held in the Trust Account after the Initial Public Offering. We expect to incur increased expenses as a result of being
a public company (for legal, financial reporting, accounting and auditing compliance, among other things), as well as for due diligence
expenses.

For the three months ended June 30, 2025, we had
net income of $21,980, which consisted of income on investments held in the Trust Account of $115,349, offset by formation, general and
administrative expenses of $91,286 and administrative expenses – related party of $2,083.

For the six months ended June 30, 2025, we had
net income of $9,018, which consisted of income on investments held in the Trust Account of $115,349, offset by formation, general and
administrative expenses of $104,248 and administrative expenses – related party of $2,083.

Liquidity, Capital Resources and Going Concern

As of June 30, 2025, we had $1,370,958 in cash
and cash equivalents held outside of the Trust Account and a working capital deficit of $1,327,453 (excluding cash and marketable securities
held in