Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 67

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 67
---
 connection with or in relation to the consummation of the initial business combination, excluding any Class A
ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued,
to any seller in the initial business combination and any Private Placement Shares issued to our Sponsor, officers or directors upon
conversion of working capital loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.
As described above under Item 1. Business, in connection with a business combination with a combined company that has a pro forma equity
value of $3 billion or greater, our Sponsor has agreed, pursuant to the letter agreement described herein, to restructure the Founder
Shares, and any shares issuable pursuant to the anti-dilution provisions in the Founder Shares, such that the fully vested shares in
the surviving company in such business combination held by our Sponsor immediately upon the consummation of such business combination
will represent approximately 1% of such pro forma equity value of the pro forma combined company (not including any earnout or unvested
shares which may be issued, granted, held, converted or otherwise provided in connection with the consummation of the business combination)
to limit the Founder Shares’ dilutive impact. The foregoing represents the extent of the Sponsor’s commitment to restructure
such shares and because this agreement to restructure the Founder Shares is in the letter agreement, as opposed to the anti-dilution
adjustment which is in our amended and restated memorandum and articles of association, it may be amended at any time without shareholder
approval. See “Risk Factors — Our letter agreement with our Sponsor, officers and directors may be amended without shareholder
approval.”

Resources
could be wasted in researching business combinations that are not completed, which could materially adversely affect subsequent attempts
to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public shareholders
may only receive their pro rata portion of the funds in the Trust Account that are available for distribution to public shareholders,
and the Eagle Share Rights will expire worthless.

We
anticipate that the investigation of each specific target business and the negotiation, drafting and execution of relevant agreements,
disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants,
attorneys, consultants and others. If we decide not to complete a specific initial business combination, the costs incurred up to that
point for the proposed transaction likely would