Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 91

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 91
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 an offering price of $10.00 per Unit, generating gross proceeds of $200,000,000. The Company granted the underwriters
a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments, if any, which expired unexercised on September
12, 2025. The total aggregate issuance of the Company of 20,000,000 Units at a price of $10.00 per Unit resulted in a total gross proceeds
of $200,000,000. On September 15, 2025, the Sponsor forfeited 1,000,000 Founder Shares for no consideration as the underwriters of the
IPO did not exercise the over-allotment option.

As previously disclosed on a Current
Report on Form 8-K dated July 29, 2025, on July 31, 2025, simultaneously with the closing of the IPO, the Company consummated the private
placement of 600,000 Private Placement Units to the Sponsor and the underwriters at a price of $10.00 per Private Placement Unit, generating
total proceeds of $6,000,000.

Five institutional investors (none of which are
affiliated with any member of management, the Sponsor or any other investor) have purchased, indirectly, through the purchase of non-voting
interests in our sponsor, an aggregate of 130,000 Non-Voting Private Placement Units at a price of $10.00 per unit ($1,300,000 in the
aggregate). In connection with the non-voting sponsor investor indirectly purchasing, through the Sponsor, the Non-Voting Private Placement
Units allocated to the non-voting sponsor investors in connection with the closing of the IPO, the Sponsor issued non-voting shares at
a nominal purchaser price to the non-voting sponsor investors at the closing of the IPO, reflecting interests in an aggregate of 1,368,421
Founder Shares held by the Sponsor.

The Private Placement Units were issued pursuant
to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transactions did not involve a public offering. The Private Placement
Units are identical to the units sold in this offering except that, so long as they are held by our sponsor, CCM or its permitted transferees,
(i) they will not be redeemable by us, and (ii) they (including the Class A ordinary shares issuable upon conversion of the private placement