Company: GSHRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075907
Chunk: 81

Company: Gesher Acquisition Corp. II
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 IPO Promissory Note. The loan was
non-interest bearing, unsecured and due at the earlier of May 31, 2025 or the closing of the Initial Public Offering. On March 24,
2025, we repaid the total outstanding balance of the IPO Promissory Note amounting to $162,616. Borrowings under the IPO Promissory Note
are no longer available.

On March 24, 2025, we consummated the Initial
Public Offering of 14,375,000 Public Units, which includes the full exercise by the underwriters of their Over-Allotment Option in the
amount of 1,875,000 Option Units, at $10.00 per Public Unit, generating gross proceeds of $143,750,000. Simultaneously with the closing
of the Initial Public Offering, we consummated the sale of 565,625 Private Placement Units at $10.00 per Private Placement Unit, in a
private placement to the Sponsor and BTIG, generating gross proceeds of $5,656,250.

Following the Initial Public Offering, the full
exercise of the Over-Allotment Option, a total of $144,181,250 was placed in the Trust Account. We incurred $8,409,601 in Initial Public
Offering related costs, including $2,875,000 of cash underwriting fee, $5,031,250 of Deferred Fee, and $503,351 of other offering costs.

For the six months ended June 30, 2025, cash used
in operating activities was $395,246. Net income of $1,345,764 was affected by interest earned on cash and marketable securities held
in the Trust Account of $1,611,082 and payment of operation costs through the IPO Promissory Note of $37,574. Changes in operating assets
and liabilities used $167,502 of cash for operating activities.  

As of June 30, 2025, we had marketable securities
held in the Trust Account of $145,792,332. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes
payable), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration
to complete our Business