Company: SDHIU
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001213900-25-042070
Chunk: 148

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 148
---
 Combination.

NOTE 7. SHAREHOLDER’S 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 March 31, 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 March 31, 2025 and December 31, 2024, there were no shares of Class A ordinary shares issued or outstanding.

Class B Ordinary Shares — The
Company is authorized to issue a total of 20,000,000 Class B ordinary shares at par value of $0.0001 each. On July 15, 2024,
the Company entered into a subscription agreement with the Sponsor, issuing 5,750,000 Class B ordinary shares to the Sponsor for
$25,000, or approximately $0.004 per share. On October 7, 2024, the Company, through a share capitalization, issued the Sponsor an additional
1,437,500 Class B ordinary shares, as a result of which the Sponsor held an aggregate of 7,187,500 Class B ordinary shares. On February
10, 2025, the Company, through a share recapitalization, surrendered 1,437,500 Class B ordinary shares, as a result of which the held
an aggregate of 5,750,000 Class B ordinary shares. On March 31, 2025, the Company, through a share recapitalization, issued the Sponsor
an additional 1,150,000 Class B ordinary shares, as a result of which the Sponsor held an aggregate of 6,900,000 Class B ordinary shares.
All share and per-share data have been retrospectively presented. The founder shares include an aggregate of up to 900,000 shares subject
to forfeiture if the over-allotment option is not exercised by the underwriter in full. As a result of the full exercise of the over-allotment
option by the underwriter, the 900,000 founder shares are no longer subject to forfeiture.

The founder shares will automatically convert
into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or earlier