Company: APAD
Filing Date: 2025-07-09
Form Type: S-1/A
Source: 0001213900-25-062242
Chunk: 63

Company: AParadise Acquisition Corp.
Filing Date: 2025-07-09
Form: S-1/A
Chunk 63
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| The shares in our sponsor held by the members of the sponsor are divided into four classes: (i) class A non-voting shares with only distribution right to the Class A ordinary shares of our company, (ii) class B non-voting shares with only distribution right to the Class B ordinary shares of our Company, (iii) class C non-voting shares with only distribution right to the rights underlying the private placement units, each right entitling the holder thereof to receive one-eighth (1/8) of one Class A ordinary share of our company upon consummation of our initial business combination, and (iv) class D voting shares with, inter alia, distribution right to the founder shares. All members of the sponsor, including the managing member of our sponsor, and any non-voting sponsor investor that may join the sponsor concurrently with this offering, will hold classes A, B, C and/or D shares in our sponsor representing their proportional and respective distribution right(s) to the founder shares and private placement units, respectively. Pursuant to an agreement of all members of the sponsor, the management and control of the sponsor is vested exclusively with the managing member without any voting, veto, consent or other participation rights by any non-voting members of our sponsor regardless of their ownership. All matters will require submission to the affirmative vote of the managing member of our sponsor who holds class D voting shares, without regard to any non-voting members of our sponsor who only hold class A, B and/or C non-voting shares in our sponsor. As a result, non-voting sponsor investors will have no right to control the sponsor, or participate in any decision regarding the disposal of any security held by the sponsor, or otherwise. |

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| Transfer restrictions on founder shares:            |     | Our initial shareholders have agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable upon conversion thereof until the earlier to occur of: (i) six months after the completion of our initial business combination or (ii) the date on which we complete a liquidation, merger, share exchange or other similar transaction after our initial business combination that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property; except to certain permitted transferees and under certain circumstances as described herein under “Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Units.” Any permitted transferees will be subject to the same restrictions