Company: GSHRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075907
Chunk: 34

Company: Gesher Acquisition Corp. II
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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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 Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the
operations of the target business or businesses, make other acquisitions and pursue our growth strategies. To mitigate the risk that we
might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments
in the Trust Account, we may, at any time (based on our Management Team’s ongoing assessment of all factors related to our potential
status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold
the funds in the Trust Account in cash or in an interest-bearing demand deposit