Company: WENNU
Filing Date: 2025-06-27
Form Type: 10-Q
Source: 0001213900-25-059037
Chunk: 62

Company: WEN Acquisition Corp
Filing Date: 2025-06-27
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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 B ordinary shares to the Sponsor for $25,000, or approximately $0.004 per share. On April
28, 2025 and on April 29, 2025, the Company, through a share capitalization, issued the Sponsor an additional 575,000 and 1,178,750, respectively,
Class B ordinary shares, as a result of which the Sponsor has purchased and holds an aggregate of 7,503,750 Class B ordinary shares. All
share and per share data has been retrospectively presented. The founder shares include an aggregate of up to 978,750 shares subject to
forfeiture if the over-allotment option is not exercised by the underwriters in full. On May 19, 2025, the underwriters exercised their
over-allotment option in full as part of the closing of the Initial Public Offering. As such, the 978,750 founder shares are no longer
subject to forfeiture.

12

WEN ACQUISITION CORP

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

The founder shares will automatically convert
into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or
earlier at the option of the holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary
shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related
to or in connection with the closing of the initial business combination, the ratio at which Class B ordinary shares convert into
Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree
to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable
upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of (i) all ordinary shares issued
and outstanding upon the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the
underwriters’ over-allotment option and excluding the Class A ordinary shares issuable upon the exercise of the private placement
warrants), plus (