Company: NBRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110861
Chunk: 31

Company: Newbridge Acquisition Ltd
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 31
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 this offering. As of September 30, 2025, we have borrowed $799,843 under the promissory note with the sponsor.
Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management’s
plans to address this uncertainty through this offering are discussed above. We cannot assure you that our plans to raise capital or
to consummate an initial business combination will be successful. These factors, among others, raise substantial doubt about our ability
to continue as a going concern.

We estimate that the net proceeds
from (1) the sale of the units in this offering, after deducting offering expenses of approximately $500,000 and underwriting discounts
and commissions of $750,000 and (2) the sale of the private units for a purchase price of $1,750,000 (or up to $1,862,500 if the
underwriters’ over-allotment option is exercised in full), will be $50,500,000 (or $58,000,000 if the over-allotment option is
exercised in full), of which amount $50,000,000 (or $57,500,000 if the over-allotment is exercised in full) will be held in the trust
account. The remaining estimated $500,000 will not be held in the trust account.

We intend to use substantially
all of the net proceeds of this offering and the sale of the private units, including the funds held in the trust account (excluding
deferred underwriting discounts) to acquire a target business or businesses and to pay our expenses relating thereto. To the extent that
our shares used in whole or in part as consideration to effect our initial business combination, the remaining proceeds held in the trust
account as well as any other net proceeds not expended will be used as working capital to finance the operations of the target business
or businesses. Such working capital funds could be used in a variety of ways including continuing or expanding the target business’
operations, for strategic acquisitions and for marketing, research and development of existing or new products. Such funds could also
be used to repay any operating expenses which we had incurred prior to the completion of our initial business combination if the funds
available to us outside of the trust account were insufficient to cover such expenses.

We believe that, upon consummation
of this offering, the estimated $500,000 of net proceeds not held in the trust account, along