Company: SDHIU
Filing Date: 2025-03-07
Form Type: S-1
Source: 0001213900-25-021782
Chunk: 30

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-03-07
Form: S-1
Chunk 30
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 be sold in the private placement.

16

| Founder shares: |     | On July 15, 2024, the sponsor entered into a certain subscription agreement with the company, paying $25,000, or approximately $0.004 per share, in exchange for the issuance of 5,750,000 founders shares to the sponsor. On October 7, 2024 the company, through a share capitalization, by way of entering into an amended and restated subscription agreement, issued the sponsor an additional 1,437,500 Class B ordinary shares, as a result of which the sponsor has purchased and holds an aggregate of 7,187,500 Class B ordinary shares. Subsequently, on February 10, 2025, our sponsor surrendered for no consideration and we canceled 1,437,500 of such Class A ordinary shares, resulting in 5,750,000 Class A ordinary shares remaining outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                 |     | Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The per share price of the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 23,000,000 units if the underwriter’s over-allotment option is exercised in full, and therefore that such founder shares would represent 20% of the outstanding shares after this offering. Up to 750,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriter’s over-allotment option is not exercised. If we increase or decrease the size of the offering pursuant to Rule 462(b) under the Securities Act, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our initial shareholders, on an as-converted basis, at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. Any conversion of Class B ordinary shares described herein will take effect as a compulsory redemption of Class B ordinary shares and an issuance of Class A ordinary shares as a matter of Cayman Islands law. |
|                 |     | The founder shares are