Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 452

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 452
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937,500 shares subject to forfeiture by the Sponsor to the extent that the Over-Allotment
Option was not exercised in full or in part, so that the number of Founder Shares will collectively represent 16.67% of the Company’s
issued and outstanding shares upon the completion of the Initial Public Offering (excluding the Private Placement Shares and after taking
into account the Sponsor’s forfeiture of Founder Shares in respect of the Eagle Share Rights). In addition, the Sponsor agreed to
surrender to the Company for no consideration after the expiration of the underwriters’ Over-Allotment Option a number of Class
B ordinary shares equal to the number of Class A ordinary shares underlying the Eagle Share Rights included in the Units sold in the Initial
Public Offering. On December 9, 2024, in connection with the partial exercise of the Over-Allotment Option, the Sponsor forfeited 2,027,500
Founder Shares, resulting in the Sponsor holding an aggregate of 5,160,000 Founder Shares.

The Sponsor and the Company’s executive
officers and directors have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the
earlier to occur of (A) one year after the completion of a business combination; and (B) subsequent to a business combination, (x) if
the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period, provided such release shall
not occur earlier than 180 days after a business combination, or (y) the date on which the Company completes a liquidation, merger, amalgamation,
share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right to
exchange their Class A ordinary shares for cash, securities or other property.

Promissory Notes

On March 12, 2021, the Company issued a promissory
note to the Sponsor, pursuant to which the Company could borrow up to an aggregate principal amount of $300,000. On June 26, 2024, the
Company and the Sponsor amended and restated such promissory note (the “Amended and Restated Formation and Regulatory Expenses Promissory
Note”), increasing the amount that the Company may borrow thereunder to $600,000. The Am