Company: APACU
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004915
Chunk: 137

Company: StoneBridge Acquisition II Corp
Filing Date: 2025-07-07
Form: S-1/A
Chunk 137
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 (i) the 1,095,667 Class A ordinary shares that the sponsor would own upon completion of our initial business combination (after automatic conversion of its 1,095,667 founder shares) would have an aggregate implied value of $7,899,759 and (ii) the 571,000 Class A ordinary shares that the Maxim Individuals and the third-party investors would own upon completion of our initial business combination (after automatic conversion of their 571,000 founder shares) would have an aggregate implied value of $4,116,910. As a result, even if the trading price of our Class A ordinary shares significantly declines, the value of the founder shares held by our initial shareholders will be significantly greater than the amount our initial shareholders paid to purchase such shares. In addition, our sponsor could potentially recoup its entire investment in our company even if the trading price of our Class A ordinary shares after the initial business combination is as low as $0.57 per share and the Maxim Individuals and third-party investors could recoup their entire investment in our company even if the trading price of our Class A ordinary shares after the initial business combination is as low as $1.40 per share. As a result, our initial shareholders are likely to earn a substantial profit on their investment in us upon disposition of their Class A ordinary shares even if the trading price of our Class A ordinary shares declines after we complete our initial business combination. Our sponsor may therefore be economically incentivized to complete an initial business combination with a riskier, weaker-performing or less-established target business than would be the case if our sponsor had paid the same per share price for the founder shares as our public shareholders paid for their public shares. In addition, given the foregoing, our third-party investors will have an incentive to vote any public shares they own in favor of a business combination, and make a substantial profit on such interests, even if the business combination is with a target that ultimately declines in value and is not profitable for other public shareholders.

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This dilution would increase to the extent that the anti-dilution provisions of the founder shares result in the issuance of Class A ordinary shares on a greater than one-to-one basis upon conversion of the founder shares at the time of our initial business combination and would become exacerbated to the extent that public shareholders seek redemptions from the trust for their public shares. In addition, because of the anti-dilution protection in the founder shares, any equity or equity-linked securities issued in connection