Company: GSHRW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109193
Chunk: 23

Company: Gesher Acquisition Corp. II
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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, unsecured and due at the earlier
of May 31, 2025 or the closing of the Initial Public Offering. On March 24, 2025, the Company repaid the total outstanding balance
of the IPO Promissory Note amounting to $162,616. Borrowings under the IPO Promissory Note are no longer available.

Administrative
Services Agreement

The
Company entered into an agreement with an affiliate of the Sponsor, commencing on March 24, 2025 through the earlier of the Company’s
consummation of the initial Business Combination and its liquidation, to pay the affiliate of the Sponsor an aggregate of $10,000 per
month for office space, utilities, and secretarial and administrative support (the “Administrative Services Agreement”).
For the three and nine months ended September 30, 2025, the Company incurred $30,000 and $60,000, respectively, under the Administrative
Services Agreement of fees which are recorded in accrued expenses in the accompanying condensed balance sheet as of September 30, 2025.
For the period from August 29, 2024 (inception) through September 30, 2024, the Company did not incur any payment for these services.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, loan the Company Working Capital Loans as may be required.
If the Company completes a Business Combination, the Company will repay the Working Capital Loans. In the event that a Business Combination
does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans,
but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans
may be convertible into units of the post-Business Combination entity at a price of $10.00 per unit at the option of the lender. As of
September 30, 2025, no such Working Capital Loans were outstanding.

13

GESHER
                                            ACQUISITION CORP. II

NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

SEPTEMBER
30, 2025

Note 6
— Commitments and Contingencies

Risks
and Uncertainties

The
Company’s ability