Company: IPODW
Filing Date: 2025-05-08
Form Type: 424B4
Source: 0001213900-25-040894
Chunk: 55

Company: Dune Acquisition Corp II
Filing Date: 2025-05-08
Form: 424B4
Chunk 55
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 with an initial business combination, and as a result our public shareholders may suffer significant dilution. This dilution would increase to the extent that the anti -dilutionprovision of the founder shares result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination. In addition, the exercise of any warrants would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise is utilized. Further, the issuance of additional ordinary or preference shares may significantly dilute the equity interest of public shareholders, which dilution would even further increase if the anti -dilutionprovisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the Class B ordinary shares. The following table illustrates the difference between the public offering price per unit and our NTBV per share, as adjusted to give effect to this offering and assuming redemption of our public shares at varying levels and the full exercise and no exercise of the over -allotmentoption:

| As of March 31, 2025 |                                                 |     |                |      |     |            |      |     |                |      |     |            |      |     |                |      |     |            |      |     |               |        |     |            |      |
|:---------------------|------------------------------------------------:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:---------------|-----:|:----|:-----------|-----:|:----|:--------------|-------:|:----|:-----------|-----:|
| Offering             
 Price of             
 $10.00               |                                                 |     | 25% of Maximum 
 Redemption     
 (assumes       
 3,125,000 or   
 3,593,750      
 public shares  
 redeemed)      |      |     |            |      |     | 50% of Maximum 
 Redemption     
 (assumes       
 6,250,000 or   
 7,187,500      
 public shares  
 redeemed)      |      |     |            |      |     | 75% of Maximum 
 Redemption     
 (assumes       
 9,375,000 or   
 10,781,250     
 public shares  
 redeemed)      |      |