Company: WENNU
Filing Date: 2025-03-28
Form Type: DRS/A
Source: 0001013762-25-004273
Chunk: 109

Company: WEN Acquisition Corp
Filing Date: 2025-03-28
Form: DRS/A
Chunk 109
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 target business, however, cannot presently be ascertained. Although some of our key personnel may remain with the target business in senior management or advisory positions following our initial business combination, it is likely that some or all of the management of the target business will remain in place. While we intend to closely scrutinize any individuals we engage after our initial business combination, we cannot assure you that our assessment of these individuals will prove to be correct. These individuals may be unfamiliar with the requirements of operating a company regulated by the SEC, which could cause us to have to expend time and resources helping them become familiar with such requirements. Our sponsor has the ability to remove itself as the Company’s sponsor or to substantially reduce its interests in the Company before identifying an initial business combination, which may result in change in the strategy and focus of our Company in pursuing an initial business combination. In order to facilitate our initial business combination or for any other reason determined by our sponsor, our sponsor may, in its sole discretion (with respect to permitted transfers) and otherwise with our consent (i) surrender or forfeit, transfer or exchange our founder shares, private placement warrants or any of our other securities held by it, including for no consideration in connection with a PIPE financing or otherwise, (ii) subject any such securities to earn -outs or other restrictions, and (iii) enter into any other arrangements with respect to any such securities. In addition, we may approve an amendment or waiver of the letter agreement that would allow the sponsor to directly, or the members or manager of our sponsor to indirectly, transfer founder shares and private placement warrants or membership interests in, or control of, our sponsor in a transaction in which the sponsor removes itself as our sponsor before identifying a business combination. As a result, there is a risk that Wen Management Sponsor LLC and its affiliates, our sponsor and our officers and directors may divest their ownership or economic interests in us or in our sponsor, or their ability to control our sponsor before we identify an initial business combination. Any such reduction of the interests of our sponsor in the securities of our company, transfer of sponsor interests or transfer of ownership or control of the manager of the sponsor may lead to the sponsor’s managing member no longer having voting power and control over the affairs of our company in pursuing an initial business combination, which would likely result in our loss of certain key personnel, and could also result in a change to our acquisition strategy and criteria and our industry focus without shareholders having the ability to consider the merits of a change in the management team.