Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 39

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the consummation of a Business Combination and rights to require the Company to register for resale such securities
pursuant to Rule 415 under the Securities Act. Notwithstanding the foregoing, the underwriters may not exercise its demand and “piggyback”
registration rights after five (5) and seven (7) years, respectively, after the effective date of the IPO and may not exercise its demand
rights on more than one occasion. However, the registration rights agreement provides that the Company will not permit any registration
statement filed under the Securities Act to become effective until termination of the applicable Lock-up period, which occurs (i) in the
case of the Founder Shares, on the earlier of (A) six months after the completion of the initial business combination or (B) subsequent
to the initial business combination, (x) if the last sale price of Class A ordinary shares equals or exceeds $12.00 per share (as adjusted
for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing after the initial business combination, or (y) the date on which the Company completes
a liquidation, merger, share exchange, reorganization or other similar transaction after the completion of the initial business combination
that results in all of the Company’s public shareholders having the right to exchange their Class A ordinary shares for cash, securities
or other property, and (ii) in the case of the Private Placement Units, including the component securities therein, until the completion
of the initial business combination. Notwithstanding the above, the shares to be issued to the underwriters in the IPO will be further
subject to the limitations on registration requirements imposed by FINRA Rule 5110(g)(8). The Company will bear the expenses incurred
in connection with the filing of any such registration statements.

20

Underwriting Agreement

The underwriters were paid a cash underwriting
discount of two percent (2%) of the gross proceeds of the IPO, or $4,000,000, of which $2,000,000 were invested in the purchase of Private
Placement Units, upon the closing of the IPO. In addition, the underwriters will be entitled to a deferred fee of up to $0.40 per Unit,
or 4% of the gross