Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 9

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 for its Initial Public Offering as filed with the SEC on
May 23, 2025, as well as the Company’s Current Report on Form 8-K, as filed with the SEC on May 20, 2025. The interim results for
the period from January 13, 2025 (inception) through March 31, 2025 are not necessarily indicative of the results to be expected for the
period ending December 31, 2025 or for any future periods.

Liquidity and Capital Resources

The Company’s liquidity needs up to March 31, 2025 had been satisfied
through the loan under an unsecured promissory note from the Sponsor of up to $300,000. As of March 31, 2025, the Company had $0 cash
and a working capital deficit of $101,492. Prior to the completion of the Initial Public Offering, the Company lacked the liquidity it
needed to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial
statement. The Company has since completed its Initial Public Offering at which time capital in excess of the funds deposited in the Trust
Account and/or used to fund offering expenses will be available to the Company for general working capital purposes.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, members of the Company’s founding team or any
of their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If
the Company completes a Business Combination, the Company would repay such loaned amounts at that time. Up to $1,500,000 of such Working
Capital Loans may be converted into warrants of the post-Business Combination entity at a price of $1.00 per warrant. The warrants would
be identical to the Private Placement Warrants. As of March 31, 2025, the Company had no borrowings under the Working Capital
Loans.

In connection with the Company’s assessment
of going concern considerations in accordance with Accounting Standards Codification (“ASC”) 205-40, “Presentation of
Financial Statements- Going Concern,” the Company does not believe it will need to raise additional funds in order to meet the expenditures
required for operating its business, including following the consummation of the Company's Initial Public Offering. However, if the estimate
of the costs of identifying a target business, undertaking in-depth due