Company: IPODW
Filing Date: 2025-04-29
Form Type: S-1/A
Source: 0001213900-25-036656
Chunk: 162

Company: Dune Acquisition Corp II
Filing Date: 2025-04-29
Form: S-1/A
Chunk 162
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 between the public offering price per unit and the net tangible book value (NTBV) per Class A ordinary shares after this offering constitutes the dilution to investors in this offering. NTBV per share is determined by dividing our NTBV, which is our total tangible assets less total liabilities (including the value of Class A ordinary shares that may be redeemed for cash), by the number of outstanding Class A ordinary shares. The below calculations (A) assume that (i) no ordinary shares are issued to shareholders of a potential business combination target as consideration or issuable by a post -businesscombination company, for instance under an equity or employee share purchase plan, (ii) no ordinary shares and convertible equity or debt securities are issued in connection with additional financing that we may seek in connection with an initial business combination, (iii) no working capital loans are converted into private placement warrants, as further described in this prospectus and (iv) no value is attributed to the warrants, and (B) assume the issuance of 12,500,000 Class A ordinary shares (or 14,375,000 Class A ordinary shares if the underwriters’ over -allotmentoption is exercised in full) and 5,000,000 founder shares (or 5,750,000 founder shares if the underwriters’ over -allotmentoption is exercised in full) and the issuance of 93,750 representative shares to the underwriters (or 107,813 representative shares if the underwriter’s over -allotmentoption is exercised in full). Such calculations do not reflect any dilution associated with the exercise of warrants as the warrants are accounted for as equity and are only exercisable following the consummation of our initial business combination. Given that we are targeting an initial business combination with an enterprise value of $1.0 billion to $1.5 billion, we may raise additional funds through issuance of ordinary shares and/or convertible equity in connection with an initial business combination, and as a result our public shareholders may suffer significant dilution. This dilution would increase to the extent that the anti -dilutionprovision of the founder shares result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination. In addition, the exercise of any warrants would cause the actual dilution to the public shareholders to be higher, particularly where a cashless exercise is utilized. Further, the issuance of additional ordinary or preference shares may significantly dilute