Company: AAM-UN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107616
Chunk: 32

Company: AA Mission Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 the Trust Account released to the Company. Otherwise,
the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does
not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds
held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital
Loans, if any, have not been determined and no written agreements exist with respect to such loans. Up to $1,500,000 of such Working Capital
Loans may be convertible into private placement-equivalent Units at a price of $10.00 per Unit at the option of the lender. Such Units
would be identical to the Private Placement Units. The terms of such Working Capital Loans by our Sponsor or its affiliates, or our officers
and directors, if any, have not been determined and no written agreements exist with respect to such loans.

4

With reference to the above, on May 22, 2025, the Company issued a
convertible promissory note in the principal amount of $1,000,000 to AA Mission Acquisition Sponsor Holdco LLC (the “Sponsor”)
to fund working capital needs and expenses related to the Company’s initial business combination (the “Convertible Promissory
Note”). The Convertible Promissory Note is non-interest bearing and matures upon the closing of a business combination. The note
may not be prepaid without the Sponsor’s consent.

At the Sponsor’s election, all or a portion of the unpaid principal
amount of the Convertible Promissory Note may be converted into private units of the Company at a conversion price of $10.00 per unit,
with each unit consisting of the same securities issued in the Company’s initial public offering. The number of units to be received
by the Sponsor in connection with such conversion shall be determined by dividing (x) the sum of the outstanding principal amount payable
to the Sponsor by (y) $10.00. No fractional units will be issued upon conversion, and any remaining balance will be paid in cash. If the
Company does not consummate a business combination, the Convertible Promissory Note will only be repaid from funds held outside of the
trust account, if any.

As of September 30, 2025, the outstanding balance under the Convertible
Promissory Note was $1,000,000.

Other Contract