Company: SDHIU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001213900-25-104714
Chunk: 24

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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securities held by them and any other securities of the Company acquired by them prior to the consummation of the initial Business Combination
pursuant to a registration rights agreement signed prior to or on the effective date of the Initial Public Offering. The holders of these
securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition,
the holders have certain piggyback registration rights with respect to registration statements filed subsequent to the completion of the
initial Business Combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriter’s Agreement

The underwriter had a 45-day option from the date
of the Initial Public Offering to purchase up to an additional 3,600,000 units to cover over-allotments, if any. On April 2, 2025,
the underwriter fully exercised its over-allotment option.

The underwriter was entitled to a cash underwriting
fees of $250,000 which was paid to Santander US Capital Markets LLC (“Santander”) upon the closing of the Initial Public Offering.

Additionally, the underwriter is 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.

Advisory Fee

In addition, Santander will be entitled to an
advisory fee of 3% of gross proceeds (or $8,280,000), upon and subject to the closing of the initial Business Combination. The terms the
agreement deems the fee earned and recordable as of September 30, 2025, and has been recorded as advisory fee on the accompanying condensed
balance sheet.

NOTE 7. SHAREHOLDERS’ DEFICIT

Preference Shares — The
Company is authorized to issue a total of 1,000,000 preference shares at par value of $0.0001 each. At September 30, 2025 and December
31, 2024, there were no preference shares issued or outstanding.

Class A Ordinary Shares — The
Company is authorized to issue a total of 200,000,000 Class A ordinary shares at par value of $0.0001 each. At September 30, 2025
and December 31,