Company: AAM-UN
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073653
Chunk: 30

Company: AA Mission Acquisition Corp.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 held outside the Trust Account. In the event that
a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital
Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms
of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. Up to $1,500,000
of such Working Capital Loans may be convertible into private placement-equivalent Units at a price of $10.00 per Unit at the option
of the lender. Such Units would be identical to the Private Placement Units. The terms of such Working Capital Loans by our Sponsor
or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect to such
loans.

4

With reference to the above, on
May 22, 2025, the Company issued a convertible promissory note in the principal amount of $1,000,000 to AA Mission Acquisition Sponsor
Holdco LLC (the “Sponsor”) to fund working capital needs and expenses related to the Company’s initial business combination
(the “Convertible Promissory Note”). The Convertible Promissory Note is non-interest bearing and matures upon the closing
of a business combination. The note may not be prepaid without the Sponsor’s consent.

At the Sponsor’s election, all or a portion
of the unpaid principal amount of the Convertible Promissory Note may be converted into private units of the Company at a conversion price
of $10.00 per unit, with each unit consisting of the same securities issued in the Company’s initial public offering. The number
of units to be received by the Sponsor in connection with such conversion shall be determined by dividing (x) the sum of the outstanding
principal amount payable to the Sponsor by (y) $10.00. No fractional units will be issued upon conversion, and any remaining balance will
be paid in cash. If the Company does not consummate a business combination, the Convertible Promissory Note will only be repaid from funds
held outside of the trust account, if any.

As of June 30, 2025, the outstanding balance under
the Convertible Promissory Note was $1,000,000.

Other Contractual Obligations

Registration Rights

Pursuant to a registration rights agreement dated
on the