Company: SDHIU
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001213900-25-042070
Chunk: 152

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 152
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 Units to the Sponsor at a price of $10.00 per unit, generating gross proceeds of
$3,380,000.

On April 2, 2025, in connection with the closing
of the Initial Public Offering, the underwriter was paid a cash underwriting fee of $250,000. In addition, the underwriter will be entitled
to a deferred underwriting discount of $0.30 per Unit, or $8,280,000. The deferred underwriting discount will become payable to the underwriter
from the amounts held in the Trust Account solely in the event the Company completes its Initial Business Combination. Additionally, the
underwriter will be entitled to an advisory fee of 3% of gross proceeds (or $6,000,000 or up to $6,900,000 in the aggregate if the underwriter’s
over-allotment option is exercised in full), upon and subject to the closing of the initial Business Combination.

Subsequent to the closing of the Initial Public
Offering, the Company repaid the $205,000 outstanding under the Promissory Note. Borrowings under the Note are no longer available.

The Company entered into an agreement, commencing
on March 31, 2025, to pay a monthly technology, software, computer, systems, administrative support, secretarial services and infrastructure
fee of $15,000 to Siddhi Capital Holdings, until the earlier of an initial Business Combination or liquidation of the Company.

Commencing on April 2, 2025, the consultant shall be paid a monthly
fee of $3,500 per the consulting services agreement, and a success fee should the Company complete an initial Business Combination of
40,000 shares. If the Company does not complete an initial Business Combination, the success fee will not be due and payable. 

13

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

References in this report (the “Quarterly
Report”) to “we,” “us” or the “Company” refer to Siddhi Acquisition Corp References to our “management”
or our “management team” refer to our officers and directors, and references to the “Sponsor” refer to Siddhi
Sponsor LLC . 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 Quarterly Report. Certain information contained
in the discussion and analysis set forth below