Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 18

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 the Company’s amended and restated memorandum and articles
of association (the “Amended and Restated Articles”) to (1) modify the substance or timing of the Company’s obligation
to allow redemption in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not
consummated an initial Business Combination within the Combination Period or (2) with respect to any other material provisions relating
to shareholders’ rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject
to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders
(the “Public Shareholders”).

5

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

The Company will provide the Public Shareholders
with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either
(i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote
by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business Combination
or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their
shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days
prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account (less
taxes payable, if any), divided by the number of then outstanding Public Shares, subject to the limitations. The amount in the Trust Account
is initially anticipated to be $10.00 per Public Share.

The ordinary shares subject to redemption are
recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing
Liabilities from Equity” (“ASC 480”)

The Company will have only the duration of the
Combination Period to complete the initial Business Combination. However, if the Company is unable to complete its initial Business Combination
within the Combination Period, the Company will as promptly as reasonably possible but not more than