Company: WENNU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076650
Chunk: 46

Company: WEN Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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5. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual Obligations

Administrative Services Agreement

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement with an affiliate of the Sponsor to pay them
$12,500 per month for office space, utilities and secretarial and administrative support services provided to members of the Management
Team pursuant to the Administrative Services Agreement. For the three months ended and for the periods from January 13, 2025 (inception)
through June 30, 2025, we incurred and paid $18,750 in fees for these services pursuant to the Administrative Services Agreement.

Underwriting Agreement 

The underwriters of the Initial Public Offering
had a 45-day option from the date of the Initial Public Offering to purchase up to an additional 3,000,000 Option Units to cover
over-allotments, if any. On May 15, 2025, simultaneously with the closing of the Initial Public Offering, the underwriters elected to
fully exercise the Over-Allotment Option to purchase the additional 3,000,000 Option Units at a price of $10.00 per Option Unit.

The underwriters were entitled to a cash underwriting
discount of $4,000,000 (2.0% of the gross proceeds of the Units in the Initial Public Offering, excluding any proceeds from Option Units
sold pursuant to the Over-Allotment Option). Additionally, the underwriters are entitled to the Deferred Fee of (i) 4.50% of the gross
proceeds of the Initial Public Offering held in the Trust Account other than those sold pursuant to the Over-Allotment Option and (ii)
6.50% of the gross proceeds sold pursuant to the Over-Allotment Option, or $14,289,750 in the aggregate, payable upon the completion of
the initial Business Combination subject to the terms of the Underwriting Agreement.

Critical Accounting Estimates

The preparation of the unaudited condensed financial
statement and notes thereto included in this Report under Item