Company: SDHIU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001213900-25-104714
Chunk: 75

Company: Siddhi Acquisition Corp (Cayman Islands)
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Private Units, a total of $277,380,000 was placed in the Trust Account. We
incurred $9,056,885 of offering costs, consisting of $250,000 of cash underwriting fee, $8,280,000 of deferred underwriting fee, and $526,885
of other offering costs.

For the nine months ended September 30, 2025,
cash used in operating activities was $509,070. Net loss of $2,807,335 was affected by interest earned on investments held in the Trust
Account of $5,864,155. Changes in operating assets and liabilities provided $8,162,420 of cash for operating activities.  

As of September 30, 2025, we had investments held
in the Trust Account of $283,244,155 (including approximately $5,864,155 of interest income) consisting of U.S. Treasury Bills with a
maturity of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all
of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable),
to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete
our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of
the target business or businesses, make other acquisitions and pursue our growth strategies.  

As of September 30, 2025, we had cash of $759,129
outside the Trust Account. We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses,
perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective
target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses,
and structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay such
loaned amounts. In the event that a Business Combination does not close