Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 32

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 funds as may be required (the “Working Capital Loans”). If the Company completes
a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the
Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from
the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible
into warrants of the post-Business Combination entity at a price of $1.00 per warrant at the option of the lender. The warrants would
be identical to the Private Placement Warrants. As of June 30, 2025, no such Working Capital Loans were outstanding.

12

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

Note 6 — Commitments and
Contingencies

Risks and Uncertainties

The Company’s ability to complete an initial
Business Combination may be adversely affected by various factors, many of which are beyond the Company’s control. The Company’s
ability to consummate an initial Business Combination could be impacted by, among other things, changes in laws or regulations, downturns
in the financial markets or in economic conditions, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions,
declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts
in Ukraine and the Middle East. The Company cannot at this time predict the likelihood of one or more of the above events, their duration
or magnitude or the extent to which they may negatively impact the Company’s ability to complete an initial Business Combination.

Registration Rights

The holders of the (i) Founder shares, (ii) Private
Placement Warrants (and the underlying securities) and (iii) warrants that may be issued upon conversion of the Working Capital Loans
have registration rights to require the Company to register a sale of any of the Company’s securities held by them and any other
securities of the Company acquired by them prior to the consummation of the initial Business Combination pursuant to a registration rights
agreement, dated May 15, 2025 between such holders and the Company (the “Registration Rights Agreement”). The holders of these
securities are entitled to make up to three demands, excluding short form demands, that the Company register such