Company: IPODW
Filing Date: 2025-04-29
Form Type: S-1/A
Source: 0001213900-25-036656
Chunk: 45

Company: Dune Acquisition Corp II
Filing Date: 2025-04-29
Form: S-1/A
Chunk 45
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 warrants held by it prior to the exchange. As the Market Price decreases, the non-managing sponsor will receive more Class A ordinary shares for no additional consideration. In contrast, other investors will receive one Class A ordinary share for an exercise price of $11.50 should any such investors choose to exercise their warrants for cash, regardless of the Market Price fluctuation. As such, the non-managing sponsor investors will be more likely to exchange NMSI private placement warrants if the Market Price is low and as a result, the public shareholders may experience significant dilution. In addition, the ability to exchange NMSI private placement warrants for Class A ordinary shares when the warrants are out of the money may also incentivize non-managing sponsor investors to vote their public shares, if any, in favor of our initial business combination even if the combined company may decline in value and be unprofitable for public shareholders after our initial business combination. Furthermore, in the event that we need to seek the forfeiture, transfer, exchange or amendment of the terms of NMSI private placement warrants in connection with our initial business combination, we will need to obtain the consent of the holders, directly or indirectly (as a result of their ownership in membership interests of the sponsor), of a majority of the NMSI private placement warrants. If we are unable to obtain such consent, our ability to complete our initial business combination may be negatively impacted. |
| Transfer restrictions on private placement warrants: |     | The private placement warrants (including the Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable, assignable or saleable until 30 days after the completion of our initial business combination, except as described herein under “Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Warrants.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Representative shares:                               |     | We will issue 93,750 Class A ordinary shares (or 107,813 Class A ordinary shares if the underwriters exercise their over-allotment option in full) to the representative or its designee, for nominal consideration. With regard to the representative shares, the underwriters have agreed (a) not to transfer, assign or sell any such shares without our written consent until the completion of our initial business combination, (ii) to waive their redemption rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of our initial business combination, and (iii) to