Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 26

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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udited condensed financial statements.

On April 28, 2025 and on April 29, 2025, the Company,
through a share capitalization, issued the Sponsor an additional 575,000 and 1,178,750 Class B ordinary shares, respectively, as a result
of which the Sponsor has purchased and holds an aggregate of 7,503,750 Class B ordinary shares. All share and per share data have been
retrospectively presented.

On May 19, 2025, the Company consummated its
Initial Public Offering of 30,015,000 Units, including 3,915,000 Units issued pursuant to the exercise in full by the underwriters of
their over-allotment option. Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share, and one-half
of one redeemable warrant of the Company, with each whole Warrant entitling the holder thereof to purchase one Class A Ordinary Share
for $11.50 per share. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $300,150,000.

Simultaneously with the closing of the Initial
Public Offering, the Company completed the Private Placement of an aggregate of 7,220,000 Private Placement Warrants, with each Private
Placement Warrant exercisable to purchase one Class A ordinary share at $11.50 per share. Of the 7,220,000 Private Placement Warrants,
4,610,000 Private Placement Warrants were sold to the Company’s Sponsor, and 2,610,000 Private Placement Warrants were sold to
Cantor Fitzgerald & Co., the representative of the underwriters in the Initial Public Offering , in each case at a purchase price
of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $7,220,000.

On May 20, 2025 the Company repaid the outstanding
balance under the promissory note.

14

Item 2. Management’s Discussion and
Analysis of Financial Condition and Results of Operations

The following discussion and analysis of the
Company’s financial condition and results of operations should be read in conjunction with the financial statements and the notes
thereto contained elsewhere in this Report. Certain information contained in the discussion and analysis set forth below includes forward-looking
statements that involve risks and uncertainties.

Cautionary Note Regarding Forward-Looking
Statements