Company: WENNU
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001213900-25-037753
Chunk: 146

Company: WEN Acquisition Corp
Filing Date: 2025-04-30
Form: S-1
Chunk 146
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 plan, (ii) no ordinary shares and convertible equity or debt securities are issued in connection with additional financing that we may seek in connection with an initial business combination, (ii i) no working capital loans are converted into private placement warrants, as further described in this prospectus and ( iv) no value is attributed to the warrants (however, we may need to issue ordinary shares or convertible equity or debt securities in the circumstances described above, as we intend to target an initial business combination with a target company whose enterprise value is greater than the net proceeds of the offering and the sale of private placement warrants) and (B) assume the issuance of 26,100,000 Class A ordinary shares (or 30,015,000 Class A ordinary shares if the over -allotmentoption is exercised in full) and 7,503,750 founder shares (up to 978,750 of which are assumed to be forfeited in the scenario in which the over -allotmentoption is not exercised in full). Such calculations do not reflect any dilution associated with the exercise of warrants as the warrants are accounted for as equity and are only exercisable following the consummation of our initial business combination. The assumed exercise of the warrants would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise is utilized. Further, we intend to target businesses with enterprise values that are greater than we could acquire with the net proceeds of this offering and the sale of the private placement warrants, and, as a result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to satisfy any redemptions by public shareholders, we may be required to seek additional financing to complete such proposed initial business combination. The issuance of additional ordinary or preference shares may significantly dilute the equity interest of public shareholders, which dilution would even further increase if the anti -dilutionprovisions in the Class B ordinary shares resulted in the issuance of Class A ordinary shares on a greater than one -to-onebasis upon conversion of the Class B ordinary shares. The following table illustrates the difference between the public offering price per unit and our NTBV per share, as adjusted to give effect to this offering and assuming redemption of our public shares at varying levels and the full exercise and no exercise of the over -allotmentoption:

| As of February 7, 2025 |                                                 |     |                |      |     |            |      |     |                |      |