Company: OBA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109993
Chunk: 37

Company: Oxley Bridge Acquisition Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 September 30, 2025,
net cash used in operating activities was $336,339. Net income of $2,443,288 was adjusted by general and administrative expenses paid
by the Sponsor under the IPO Promissory Note of $41,811, $2,759,767 of income on investments in Trust Account, and $61,671 changes in
operating assets and liabilities. Net cash used in investing activities was $253,000,000 related to the funding of the Trust Account.
Net cash provided by financing activities was $254,426,441 related to $248,600,000 of net proceeds from the issuance of Ordinary Shares
and $6,400,000 of proceeds from the Private Placement, proceeds from the IPO Promissory Note of $10, offset by $242,318 payment of the
outstanding IPO Promissory Note balance at the date of the Initial Public Offering, and $331,251 payments of deferred offering costs.

As of September 30, 2025, we had marketable securities
held in the Trust Account of $255,759,767 (including approximately $2,759,767 of interest income. We may withdraw interest from the Trust
Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing
interest earned on the Trust Account which intertest shall be net of taxes payable, if any, and exclude the Deferred Fee), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies.

21

To mitigate the risk that we might be deemed to
be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the Trust
Account, we may, at any time, (based on our Management Team’s ongoing assessment of all factors related to our potential status
under the Investment Company Act) instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the
funds in the Trust Account in cash or in an interest-bearing demand deposit account at a bank

As of September 30, 2025, we had cash held outside
of the Trust Account of $1,090,102. We use the funds