Company: BEAG
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-003594
Chunk: 1688

Company: Bold Eagle Acquisition Corp.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 1688
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 Sponsor, officers and directors 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) one year after the completion of our initial business combination or (ii) the date following the completion of our initial
business combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our
shareholders having the right to exchange their ordinary shares for cash, securities or other property and our Sponsor has agreed not
to transfer, assign or sell any of its Private Placement Shares until 30 days after the completion of our initial business combination.
Notwithstanding the foregoing, if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for
share sub-divisions, 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 our initial business combination, the Founder Shares and
Private Placement Shares will be released from the lockup. Because our Sponsor and members of our management team will directly or indirectly
own our securities following the Initial Public Offering, and accordingly, they may have a conflict of interest in determining whether
a particular target business is an appropriate business with which to effectuate our initial business combination and in negotiating or
accepting the terms of the transaction because of their financial interest in completing an initial business combination within the completion
window. Our Sponsor paid a nominal aggregate purchase price of $25,000 for the Founder Shares, or approximately $0.0004 per share. Accordingly,
our management team, which owns interest in our Sponsor, may be more willing to pursue a business combination with a riskier or less-established
target business than would be the case if our Sponsor had paid the same per share price for the Founder Shares as our public shareholders
paid for their public shares. The low price that our Sponsor, executive officers and directors (directly or indirectly) paid for the Founder
Shares creates an incentive whereby our officers and directors could potentially make a substantial profit even if we select an acquisition
target that subsequently declines in value and is unprofitable for public shareholders. If we are unable to complete our initial business
combination within the completion window, the Founder Shares may expire worthless, except to the extent they receive liquidating distributions
from assets outside the Trust Account, which could create an