Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 33

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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349, offset by formation, general and
administrative expenses of $91,286 and administrative expenses – related party of $2,083.

For the six months ended June 30, 2025, we had
net income of $9,018, which consisted of income on investments held in the Trust Account of $115,349, offset by formation, general and
administrative expenses of $104,248 and administrative expenses – related party of $2,083.

Liquidity, Capital Resources and Going Concern

As of June 30, 2025, we had $1,370,958 in cash
and cash equivalents held outside of the Trust Account and a working capital deficit of $1,327,453 (excluding cash and marketable securities
held in the Trust Account and the Deferred Fee payable).

Until the consummation of the Initial Public Offering,
our only source of liquidity was from (i) the $25,000 of proceeds from our Sponsor’s purchase of Class B Ordinary Shares and (ii)
a loan of $242,318 from our Sponsor pursuant to the IPO Promissory Note to cover certain expenses.

Following our Initial Public Offering and the
Private Placement, a total of $253,000,000 was placed in the Trust Account.

For the six months ended June 30, 2025, net cash
used in operating activities was $67,517. Net income of $9,018 was adjusted by general and administrative expenses paid by the Sponsor
under the IPO Promissory Note of $41,811, $115,349 of income on investments in Trust Account, and $2,997 changes in operating assets and
liabilities. Net cash used in investing activities was $253,000,000 related to the funding of the Trust Account. Net cash provided by
financing activities was $254,438,475 related to $248,600,000 of net proceeds from the issuance of Ordinary Shares and $6,400,000 of proceeds
from Private Placement Warrants, proceeds from the IPO Promissory Note of $10, offset by $267,627 payment of the outstanding IPO Promissory
Note balance at the date of the Initial Public Offering, and $293,908 payments of deferred offering costs.

As of June 30, 2025, we had marketable securities
held in the Trust Account of $253,115,349 (including approximately $115,349 of gains on marketable securities) consisting of securities
held in a