Company: IPODW
Filing Date: 2025-03-25
Form Type: S-1/A
Source: 0001013762-25-002292
Chunk: 99

Company: Dune Acquisition Corp II
Filing Date: 2025-03-25
Form: S-1/A
Chunk 99
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, by (y) the Market Price (as defined below) of the Class A ordinary shares as of the date of such exchange, subject to a cap of ¼ (one -quarter) of a Class A ordinary share per NMSI private placement warrant. By way of illustration, if a non -managingsponsor investor makes an exchange of NMSI private placement warrants, and if the Market Price of the Class A ordinary shares as of the date of such exchange is $4.00 per Class A ordinary share, then the non -managingsponsor investor would receive 1/8 (one -eighth) of a Class A ordinary share for each NMSI private placement warrant exchanged (i.e., $0.50, divided by $4.00). As such, such non -managingsponsor investor will receive up to one Class A ordinary share for eight (8) NMSI private placement warrants held by it prior to the exchange. As the Market Price decreases, the non -managingsponsor will receive more Class A ordinary shares for no additional consideration. In contrast, other investors will receive one Class A ordinary share for an exercise price of $11.50 should any such investors choose to exercise their warrants for cash, regardless of the Market Price fluctuation. As such, the non -managingsponsor investors will be more likely to exchange NMSI private placement warrants if the Market Price is low and as a result, the public shareholders may experience significant dilution. In addition, the ability to exchange NMSI private placement warrants for Class A ordinary shares when the warrants are out of the money may also incentivize non -managingsponsor investors to vote their public shares, if any, in favor of our initial business combination even if the combined company may decline in value and be unprofitable for public shareholders after our initial business combination. 69 The personal and financial interests of our sponsor, directors and officers and any holders of our founder shares or our private placement units may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination and may result in a misalignment of interests between the holders of our founder shares, including any non -managingsponsor investors, and our officers and directors, on the one hand, and our public shareholders, on the other. These risks may become more acute as the deadline to complete our initial business combination nears. In particular, because the founder shares were