Company: APACU
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001829126-25-003414
Chunk: 336

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-05-05
Form: S-1
Chunk 336
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 B ordinary shares (the “Founder Shares”) issued to the Sponsor. Up to 750,000 of those Founder Shares were subject to forfeiture depending on the extent to which the underwriter’s over-allotment option was exercised. Subsequently, in connection with a reduction in the size of the Proposed Public Offering, on April 21, 2025, the 5,750,000 Founder Shares owned by the Sponsor was adjusted, for no additional consideration, to 1,916,667 (resulting in the Sponsor surrendering 3,833,333 Founder Shares). Consequently, the Sponsor currently owns an aggregate of 1,916,667, deemed to have been purchased for $25,000, or $0.01 per share. The Founder Shares include an aggregate of up to 250,000 shares subject to forfeiture by the holders thereof depending on the extent to which the underwriter’s over-allotment option is exercised, so that the number of Founder Shares will collectively represent 25% of the Company’s issued and outstanding shares upon the completion of the Proposed Public Offering.

The Sponsor has agreed, subject to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of: (A) six months after the completion of a Business Combination; and (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, or (y) the date on which the Company completes a liquidation, merger, amalgamation, share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Promissory Note — Related Party

On August 1, 2024, the Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate principal amount of $300,000. Subsequently, the Promissory Note was amended on April 1, 2025 to $800,000 to be repaid on the earlier of December 31, 2025 or the date on which the Company consummates an initial public offering of its