Company: OBA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075674
Chunk: 19

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination or (y) if the Company consummates a transaction after the initial Business Combination which results in the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property, the Founder Shares will be released from the Lock-up.  IPO Promissory Note — Related Party  The Sponsor agreed to loan the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering (the “IPO Promissory Note”). The IPO Promissory Note was non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As of June 26, 2025, the Company had borrowed $242,318 under the IPO Promissory Note. On June 26, 2025, the Company paid $267,627 to the Sponsor, resulting in an overpayment of $25,309 that is recorded as a related party receivable. The IPO Promissory Note was non-interest bearing and $0 and $66,426 are outstanding, respectively, as of June 30, 2025 and December 31, 2024. Borrowings under the IPO Promissory Note are no longer available.  Due to Related Party  In the normal course of business, certain expenses of the Company may be paid by, and then reimbursed to an affiliate of the Sponsor. As of June 30, 2025 and December 31, 2024, the Company had an outstanding balance due to an affiliate of the Sponsor of $2,400 and $0, respectively. The amount is included in due to related party on the accompanying unaudited condensed balance sheets.  Administrative Services Agreement  Commencing on the June 26, 2025, the Company entered into an administrative services agreement, dated June 26, 2025 (the “Administrative Services Agreement”), with an affiliate of the Sponsor to pay an aggregate of $12,500 per month for office space, utilities, and secretarial and administrative support. Upon completion of the initial Business Combination or the liquidation, the Company will cease paying the $12,500 per month fee.   As of June 30, 2025 and December 31, 2024, there was $2,083 and $0,