Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 55

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 number of Class A ordinary shares
equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares issuable upon exercise of
the warrants, multiplied by the excess of the “fair market value” of the Class A ordinary shares over the exercise price
of the warrants by (y) the fair market value. The “fair market value” is the average reported closing price of the Class A
ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of exercise
is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as applicable.

9

WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

Redemption of Warrants When the Price per Class A
Ordinary Share Equals or Exceeds $18.00:    The Company may redeem the outstanding warrants once the warrants
become exercisable:

●in
whole and not in part;

●at
a price of $0.01 per warrant;

●upon
a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and

●if,
and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for adjustments to
the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day
period commencing at least 30 days after completion of the Company’s initial business combination and ending three business days
before the Company sends the notice of redemption to the warrant holders.

Additionally, if the number of outstanding Class A
ordinary shares is increased by a share capitalization payable in Class A ordinary shares, or by a subdivision of ordinary shares
or other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Class A
ordinary shares issuable upon exercise of each warrant will be increased in proportion to such increase in the outstanding ordinary shares.
A rights offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares
at a price less than the fair market value will be