# EDGAR Filing Document

**Accession Number:** 0002053927
**File Stem:** 0001829126-25-004255
**Filing Date:** 2025-6
**Character Count:** 76063
**Document Hash:** 7e455ab563b61cae50574d854a03fc03
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-25-004255.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001829126-25-004255

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250530

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wintergreen Acquisition Corp.
- **CENTRAL INDEX KEY:** 0002053927
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42673
- **FILM NUMBER:** 251026509

**BUSINESS ADDRESS:**
- **STREET 1:** ROOM 8326, BLOCK B
- **STREET 2:** 90 JIUKESHU WEST ROAD
- **CITY:** TONGZHOU DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 00000
- **BUSINESS PHONE:** 0085363006136

**MAIL ADDRESS:**
- **STREET 1:** ROOM 8326, BLOCK B
- **STREET 2:** 90 JIUKESHU WEST ROAD
- **CITY:** TONGZHOU DISTRICT, BEIJING
- **STATE:** F4
- **ZIP:** 00000

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 30, 2025

**Wintergreen Acquisition Corp.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-42673** | **N/A** |
| (State or other jurisdiction of<br> incorporation or organization) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification Number) |

---

**Room 8326, Block B, Hongxiang Cultural and Creative Industrial Park, 90 Jiukeshu West Road, Tongzhou District, Beijing, PRC**

(Address of principal executive offices, including zip code)

**+ (86)** **136 5237 1477**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Units, each consisting of one Ordinary Share, par value $0.0001 per share, and one right to acquire one-eighth (1/8) of one Ordinary Share | WTGUU | The Nasdaq Stock Market LLC |
| Ordinary Shares, par value $0.0001 per share | WTG | The Nasdaq Stock Market LLC |
| Rights, each to acquire one-eighth (1/8) of one Ordinary Share | WTGUR | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 3.02. Unregistered Sales of Equity Securities.**

On May 30, 2025, Wintergreen Acquisition Corp., a Cayman Islands exempted company (the "Company"), consummated its initial public offering (the "IPO") of 5,595,000 units (the "Units"), including 595,000 Units issued to the underwriter upon partial exercise of their over-allotment option. Each Unit consists of one ordinary share of the Company, par value $0.0001 per share (the "Ordinary Shares") and one right entitling the holder thereof to receive one-eighth (1/8th) of one ordinary share of upon consummation of the Company's initial business combination (the "Rights").

Concurrent with the closing of the IPO, the Company closed a private placement of an aggregate of 253,875 units (the "Placement Units") at a price of $10.00 per Placement Unit, generating gross proceeds of $2,538,750 (the "Private Placement"). The Placement Units are identical to the Units sold in the Offering, except as described in the Company's registration statement on Form S-1 (File No. 333-286795) (the "Registration Statement"), including in part that the initial purchaser agreed not to transfer, assign or sell any of the Placement Units or underlying securities (except in limited circumstances, as described in the Registration Statement) until 30 days following the completion of the Company's initial business combination. The initial purchaser was granted certain demand and piggyback registration rights in connection with the purchase of the Placement Units. The Placement Units were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transactions did not involve a public offering.

The above descriptions are qualified in their entirety by reference to the full text of the applicable agreement, each of which is incorporated by reference herein.

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On May 30, 2025, in connection with the consummation of the IPO, the appointment of Yongfang Yao, Bingzhao Tan, Xiangxiang Wei, Ru Ding, and Caihong Chen to the board of directors of the Company (the "Board") became effective. Messrs. Yao and Tan and Mses. Wei, Ding and Chen will serve as directors. Mses. Wei, Ding and Chen are independent directors on the Board. Effective May 30, 2025, Mses. Wei, Ding and Chen were appointed to the Board's Audit Committee and the Board's Compensation Committee, with Ms. Caihong Chen serving as chair of the Audit Committee and Ms. Ru Ding serving as chair of the Compensation Committee.

In connection with their appointments to the Board, each member of the Board entered into an indemnity agreement with the Company (the "Indemnity Agreements"). In addition, as previously disclosed on our current report on Form 8-K filed with the SEC on May 28, 2025, the Company, the Sponsor and each of the officers and directors of the Company entered into an insider letter agreement (the "Insider Letter Agreement"). Other than the foregoing, none of the directors are party to any arrangement or understanding with any person pursuant to which they were appointed as directors, nor are they party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company.

The foregoing descriptions of the Indemnity Agreements and the Insider Letter Agreement do not purport to be complete and are qualified in their entireties by reference to the Indemnity Agreements and the Insider Letter Agreement, copies of which are attached as Exhibits 10.4.1 through 10.4.5 and Exhibit 10.5 hereto, respectively, and are incorporated herein by reference.

**Item 8.01. Other Events.**

On May 30, 2025, the Company completed the Offering. Each Unit offered in the Offering consists of one Ordinary Share and one Right, each Right entitles the holder thereof to receive one-eighth (1/8th) of one Ordinary Share upon the consummation of an initial business combination, subject to adjustment, pursuant to the Company's Registration Statement. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $55,950,000 including the underwriter's partial exercise of its option to purchase up to an additional 595,000 Units offered by the Company to cover over-allotments.

A total of $50,125,000 of the net proceeds, from the Offering and a portion of the proceeds from the Private Placement (after the offset of the loan of $475,000 drawn from the Sponsor by the Company to initiate the IPO), was deposited in a trust account established for the benefit of the Company's public shareholders. An audited balance sheet as of May 30, 2025 reflecting receipt of the proceeds upon consummation of the Offering and the Private Placement has been issued by the Company and is attached hereto as Exhibit 99.1.

Also on May 30, 2025, in connection with the closing of the Offering, the Company issued a press release, a copy of which is attached as Exhibit 99.2.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1 | [Underwriting Agreement, dated as of May 28, 2025, between the Company and D. Boral Capital LLC. (Incorporated by reference to Exhibit 1.1 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex1-1.htm) |
| 4.1 | [Rights Agreement, dated as of May 28, 2025, between Transhare Corporation and the Company. (Incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex4-1.htm) |
| 10.3 | [Placement Unit Purchase Agreement, dated as of May 27, 2025, between the Company and MACRO DREAM Holdings Limited. (Incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-3.htm) |
| 10.4.1 | [Form of Indemnity Agreement between the Company and Yongfang Yao. (Incorporated by reference to Exhibit 10.4.1 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-4i.htm) |
| 10.4.2 | [Form of Indemnity Agreement between the Company and Bingzhao Tan. (Incorporated by reference to Exhibit 10.4.2 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-4ii.htm) |
| 10.4.3 | [Form of Indemnity Agreement between the Company and Xiangxiang Wei. (Incorporated by reference to Exhibit 10.4.3 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-4iii.htm) |
| 10.4.4 | [Form of Indemnity Agreement between the Company and Ru Ding. (Incorporated by reference to Exhibit 10.4.4 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-4iv.htm) |
| 10.4.5 | [Form of Indemnity Agreement between the Company and Caihong Chen. (Incorporated by reference to Exhibit 10.4.5 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-4v.htm) |
| 10.5 | [Insider Letter Agreement, dated as of May 28, 2025, among the Company, MACRO DREAM Holdings Limited and each director and officer of the Company. (Incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-5.htm) |
| 10.6 | [Administrative Services Agreement, dated as of May 27, 2025, between the Company and MACRO DREAM Holdings Limited. (Incorporated by reference to Exhibit 10.6 to the Company's Current Report on Form 8-K filed on May 29, 2025)](https://www.sec.gov/Archives/edgar/data/2053927/000182912625004044/wintergreenacq_ex10-6.htm) |
| 99.1 | [Audited Balance Sheet dated May 30, 2025.](wintergreenacq_ex99-1.htm) |
| 99.2 | [Press release dated May 30, 2025.](wintergreenacq_ex99-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 5, 2025

**WINTERGREEN ACQUISITION CORP.**

---

| | |
|:---|:---|
| By: | */s/ Yongfang "Fayer" Yao* |
| Name: | Yongfang "Fayer" Yao |
| Title: | Chief Executive Officer and Director |

---

## Exhibit 99.1

**Exhibit 99.1**

**INDEX TO FINANCIAL STATEMENTS**

---

| | |
|:---|:---|
|  | **Page(s)** |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID: 6413)](#a_001) | F-2 |
| [Balance Sheet as of May 30, 2025](#a_002) | F-3 |
| [Notes to Financial Statements](#a_003) | F-4 - F-16 |

---

![](ex99-1_001.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**To the Shareholders and Board of Directors of** 

**Wintergreen Acquisition Corp.**

**Opinion on the Financial Statements**

We have audited the accompanying balance sheet of Wintergreen Acquisition Corp. (the "Company") as of May 30, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of May 30, 2025, in conformity with accounting principles generally accepted in the United States of America.

**Explanatory Paragraph — Going Concern**

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. If the Company is unable to complete a business combination within the combination period, the Company would proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's evaluation of the events and conditions and management's plans regarding these matters are also described in Note 1 to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

---

| |
|:---|
| /s/ ZH CPA, LLC |
| We have served as the Company's auditor since 2025. |
| Denver, Colorado |
| June 5, 2025 |

---

999 18th Street, Suite 3000, Denver, CO, 80202 USA. Phone: 1.303.386.7224 Fax: 1.303.386.7101 Email: admin@zhcpa.us

**WINTERGREEN ACQUISITION CORP.**

**BALANCE SHEET**

**May 30, 2025**

**Currency expressed in United States dollars ("US$), except for number of shares**

---

| | |
|:---|:---|
|  | **May 30, <br>2025** |
| **ASSETS** |  |
| **Current assets** |  |
| &nbsp;&nbsp;&nbsp;Cash | $277534 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 547 |
| &nbsp;&nbsp;&nbsp;Total current assets | 278081 |
| **Non-current assets** |  |
| &nbsp;&nbsp;&nbsp;Marketable securities held in Trust Account | 56089875 |
| &nbsp;&nbsp;&nbsp;Total non-current assets | 56089875 |
| **TOTAL ASSETS** | $**56367956** |
| **Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders' Equity** |  |
| **Current liabilities** |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $45000 |
| &nbsp;&nbsp;&nbsp;Over-allotment liability | 39900 |
| &nbsp;&nbsp;&nbsp;Total current liabilities | 84900 |
| **Total Liabilities** | **84900** |
| Commitments and Contingencies (Note 7) |  |
| **Ordinary shares subject to possible redemption, $0.0001 par value, 500,000,000 shares authorized, 5,595,000 shares subject to possible redemption** | **48331096** |
| **Shareholders' Equity:** |  |
| &nbsp;&nbsp;&nbsp;Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 1,747,325 shares issued and outstanding (excluding 5,595,000 shares subject to redemption)<sup>(1)</sup> | 175 |
| &nbsp;&nbsp;&nbsp;Subscription receivable | (1284375) |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 9328005 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (91845) |
| **Total Shareholders' Equity** | **7951960** |
| **TOTAL LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' EQUITY** | $**56367956** |

---

(1) The number includes up to 38,750 ordinary shares subject to
forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).

The accompanying notes are an integral part of the financial statement.

**WINTERGREEN ACQUISITION CORP.**

**NOTES TO BALANCE SHEET**

**May 30, 2025**

**Note 1 — Organization, Business Operation and Going Concern Consideration**

Wintergreen Acquisition Corp. (the "Company") is a newly organized blank check company incorporated as a Cayman Islands exempted company on April 29, 2024. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the "Business Combination"). The Company has not selected any Business Combination target and it has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any Business Combination target with respect to the Business Combination.

As of May 30, 2025, the Company had not commenced any operations. For the period from April 29, 2024 (inception) through May 30, 2025, the Company's efforts have been limited to organizational activities as well as activities related to the Initial Public Offering (as defined below). The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering and Private Placement (as defined below). The Company has selected December 31 as its fiscal year end.

The Company's founder and sponsor is MACRO DREAM Holdings Limited, a British Virgin Island business company with limited liability (the "sponsor"). The registration statement for the Company's Initial Public Offering was declared effective on May 28, 2025. On May 30, 2025, the Company consummated its Initial Public Offering of 5,000,000 units (the "Units" and, with respect to the Ordinary Shares included in the Units being offered, the "Public Shares"), at $10.00 per Unit, generating gross proceeds of $50,000,000 (the "Initial Public Offering", or "IPO"), and incurring offering costs of $1,308,056. The Company granted the underwriter a 45-day option to purchase up to an additional 750,000 Units at the Initial Public Offering price to cover over-allotments, if any On May 29, 2025, the over-allotment option was exercised in part, and 595,000 Units, at $10.00 per Unit were sold, generating gross proceeds of $5,950,000. Meanwhile, 55,950 ordinary shares were issued to the underwriter at the closing of the IPO as representative shares (the "Representative Shares"), and 55,950 representative shares will be issued as the deferred underwriting commission at the consummation of a Business Combination.

Simultaneously with the consummation of the closing of the IPO, the Company consummated the private placement of an aggregate of 253,875 units (the "Placement Units") to the Sponsor at a price of $10.00 per Unit, generating gross proceeds of $2,538,750 (the "Private Placement", see Note 4).

The Company's initial Business Combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (net of amounts disbursed to management for working capital purposes, if permitted, and excluding the amount of any deferred underwriting discount held in trust) at the time of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires an interest in the target sufficient for the post-transaction company not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the "Investment Company Act"). There is no assurance that the Company will be able to complete a Business Combination successfully.

Following the closing of the IPO on May 30, 2025, an amount of $55,950,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the IPO and a portion of the proceeds from the sale of the Placement Units was placed in a trust account ("Trust Account") and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, with a maturity of 185 days or less, or in money market funds meeting certain conditions of Rule 2a-7 of the Investment Company Act of 1940 which invest only in direct U.S. government treasury obligations, as determined by the Company. The proceeds from this offering held in the trust account will not be released from the trust account (1) to the Company, until the completion of the initial business combination, or (2) to public shareholders, until the earliest of: (a) the completion of the initial Business Combination, (b) the redemption of any ordinary shares sold as part of the units in this offering (the "public shares") properly submitted in connection with a shareholder vote to amend the Company's second amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company's obligation to provide holders of the Company's ordinary shares the right to have their shares redeemed in connection with the Company's initial business combination or to redeem 100% of the Company's public shares if the Company does not complete the initial business combination on August 30, 2026 or up to May 30, 2027 (an "Extension Period") or (B) with respect to any other provision relating to the rights of holders of the Company's ordinary shares, and (c) the redemption of the Company's public shares if it has not consummated the business combination within 15 months from the closing of this offering or during any Extension Period, subject to applicable law. Public shareholders who redeem their ordinary shares in connection with a shareholder vote described in clause (b) in the preceding sentence shall not be entitled to funds from the trust account upon the subsequent completion of an initial business combination or liquidation if the Company has not consummated an initial business combination within 15 months from the closing of this offering, with respect to such ordinary shares so redeemed. The proceeds deposited in the trust account could become subject to the claims of the Company's creditors, if any, which could have priority over the claims of the Company's public shareholders.

The shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.025 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. The ordinary shares subject to redemption will be recorded at a redemption value and classified as temporary equity upon the completion of the IPO, in accordance with Accounting Standards Codification ("ASC") Topic 480 "Distinguishing Liabilities from Equity." In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the issued and outstanding shares voted are voted in favor of the Business Combination. The Company will have only 15 months from the closing of the Initial Public Offering or during any Extension Period to complete the initial Business Combination (the "Combination Period"). If the Company is unable to complete the initial Business Combination within the Combination Period, the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company for working capital purposes or to pay the Company's taxes (less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining shareholders and its board of directors, dissolve and liquidate, subject in each case to the Company's obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless if the Company fails to complete the Business Combination within the 15 months from the closing of this offering or during any Extension Period.

The Founder shares except as described below, are identical to the ordinary shares included in the units being sold in this offering, and holders of Founder shares have the same shareholder rights as public shareholders, except that (a) prior to the initial business combination, only holders of the founder shares have the right to vote on the appointment of directors and holders of a majority of the founder shares may remove a member of the board of directors for any reason; (b) in a vote to continue the company in a jurisdiction outside of the Cayman Islands, holders of founder shares will have ten votes for every founder share and holders of ordinary shares will have one vote for every ordinary share; (c) the Founder shares are subject to certain transfer restrictions, as described in more detail below; (d) the Company's initial shareholder has entered into an agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their Founder shares in connection with the completion of the Company's initial Business Combination, (ii) waive their redemption rights with respect to their Founder shares and public shares in connection with a stockholder vote to approve an amendment to the Company's second amended and restated memorandum and articles of association to (A) modify the substance or timing of the Company's obligation to provide for the redemption of the Company's public shares in connection with an initial Business Combination or to redeem 100% of the Company's public shares if the Company has not consummated an initial Business Combination within 15 months from the closing of this offering or during any Extension Period, and (B) with respect to any other provisions relating to shareholders' rights, and (iii) waive their rights to liquidating distributions from the Trust Account with respect to their Founder shares if w the Company fails to complete its initial Business Combination within 15 months from the closing of this offering or during any Extension Period, (although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete its initial Business Combination within the prescribed time frame), and I are entitled to registration rights. If the Company submits its initial Business Combination to its public shareholders for a vote, its founder has agreed (and its permitted transferees will agree) to vote their Founder shares, placement shares and any public shares purchased during or after this offering in favor of its initial Business Combination. The other members of the Company's management team have entered into agreements similar to the one entered into by the Company's Sponsor with respect to any public shares acquired by them in or after this offering.

The Company will have until 15 months from the closing of the IPO (or up to 24 months from the closing of this offering if the Company extends the period of time to consummate a Business Combination by up to six additional months through six one-month extensions of time, as further provided in the Company's amended and restated memorandum and articles of association) to consummate a Business Combination (the "Combination Period"). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the trust account and not previously released to the Company to pay its franchise and income taxes as well as expenses relating to the administration of the trust account (less up to $50,000 of interest released to the Company to pay taxes and potentially, dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and the Company's board of directors, dissolve and liquidate, subject in each case to our obligations under the Companies Act to provide for claims of creditors and the requirements of other applicable law.

The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the IPO price per Unit ($10.00).

The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than our independent registered public accounting firm) for services rendered or products sold to the Company, or by a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.00 per public share and (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.00 per public share due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay taxes. This liability will not apply with respect to any claims by a third party or prospective target business who executed a waiver of any and all rights to seek access to the Trust Account nor will it apply to any claims under the Company's indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, then the Company's Sponsor will not be responsible to the extent of any liability for such third party claims.

**Going Concern Consideration**

On May 30, 2025, the Company had cash balance of $277,534 in operating bank accounts.

The Company's liquidity needs prior to the consummation of the IPO were satisfied through the payment of $25,000 from the Sponsor to cover for certain offering costs on the Company's behalf in exchange for issuance of Founder Shares (as defined in Note 3), and loan from the Sponsor of $475,000 under the Promissory Note (as defined in Note 5). The Company repaid the Promissory Note in full shortly after receipt of funds in the operating bank account from the Trust Account. Subsequent to the consummation of the IPO, the Company's liquidity has been satisfied through the net proceeds from the consummation of the IPO and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company's officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 5). As of May 30, 2025, there were no amounts outstanding under any Working Capital Loan.

The Company has incurred and expects to continue to incur significant costs in pursuit of the consummation of an initial Business Combination. In addition, the Company initially has until August 30, 2026 to consummate the initial Business Combination (assume no extensions). If the Company does not complete a Business Combination within the prescribed timeline, the Company will trigger an automatic winding up, dissolution and liquidation pursuant to the terms of the Amended and Restated Memorandum and Articles of Association. Notwithstanding management's belief that the Company would have sufficient funds to execute its business strategy, there is a possibility that business combination might not happen within the 15-month period from the issuance date of these financial statements. In connection with the Company's assessment of going concern considerations in accordance with Financial Accounting Standard Board's Accounting Standards Update ("ASU") 2014-15, "Disclosures of Uncertainties about an Entity's Ability to Continue as a Going Concern," management has determined that the mandatory liquidation, should a business combination not occur, and potential subsequent dissolution, raises substantial doubt about the Company's ability to continue as a going concern. Therefore, management has determined that such additional condition raise substantial doubt about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. The financial statements do not include any adjustments that might result from the Company's inability to consummate the initial Business Combination to continue as a going concern.

**Note 2 — Significant Accounting Policies**

**Basis of Presentation**

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and pursuant to the rules and regulations of the SEC.

**Emerging Growth Company Status**

The Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended, (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company's financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

**Use of Estimates**

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Actual results could differ from these estimates.

**Cash and cash equivalents**

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $277,534 in cash as of May 30, 2025.

**Marketable Securities Held in Trust Account**

As of May 30, 2025, all of the assets held in the Trust Account were held in U.S. Treasury Securities Money Market Funds. All of the Company's investments held in the Trust Account are classified as marketable securities. Marketable securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in income earned on marketable securities held in Trust Account in the statement of operations and comprehensive loss. The estimated fair values of marketable securities held in Trust Account are determined using available market information. As of May 30, 2025, the estimated fair value of marketable securities held in Trust Account was $56,089,875.

**Offering Costs Associated with the Initial Public Offering**

Offering costs consist of underwriting, legal, accounting and other expenses incurred through the IPO that are directly related to the IPO. Offering cost amounted to $1,308,056, consisting of $559,500 and $493,482 of underwriting commissions which were paid in cash and representative shares (55,950 ordinary shares) at the closing date of the IPO, respectively and $255,074 of other offering costs. The Company complies with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin ("SAB") Topic 5A - "Expenses of Offering". The Company allocates offering costs among public shares, public rights based on the relative fair values of public shares and public rights. Accordingly, $1,156,982 was allocated to public shares and charged to ordinary shares subject to possible redemption, and $151,073 was allocated to public rights and charged to shareholders' equity.

**Fair Value of Financial Instruments**

ASC Topic 820 "Fair Value Measurements and Disclosures" defines fair value, the methods used to measure fair value and the expanded disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between the buyer and the seller at the measurement date. In determining fair value, the valuation techniques consistent with the market approach, income approach and cost approach shall be used to measure fair value. ASC Topic 820 establishes a fair value hierarchy for inputs, which represent the assumptions used by the buyer and seller in pricing the asset or liability. These inputs are further defined as observable and unobservable inputs. Observable inputs are those that buyer and seller would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company's assumptions about the inputs that the buyer and seller would use in pricing the asset or liability developed based on the best information available in the circumstances.

The fair value hierarchy is categorized into three levels based on the inputs as follows:

● Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

● Level 2 - Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

● Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The fair value of the Company's assets and liabilities, which qualify as financial instruments under ASC Topic 820 approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. The carrying amounts reported in the balance sheet for cash and cash equivalents and accounts payable and accrued expenses, each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period between the origination of such instruments and their expected realization and their current market rate of interest.

The following table presents information about the Company's assets and liabilities that are measured at fair value on a recurring basis as of the presented periods, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

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| | | |
|:---|:---|:---|
| **Description** | **Level** | **May 30,<br> 2025** |
| **Assets:** |  |  |
| Marketable securities held in Trust Account | 1 | $56089875 |
| **Liabilities:** |  |  |
| Over-allotment liability | 3 | $39900 |

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**Concentration of Credit Risk**

Financial instruments that potentially subject the Company to concentration of credit risk consist of cash account in a financial institution and marketable securities held in Trust Account which, at times may exceed the Federal depository insurance coverage of $250,000. Also, the Company maintains certain bank accounts in Hong Kong, where cash balances are protected under Deposit Protection Scheme in accordance with the Deposit Protection Scheme Ordinance, with the maximum protection of up to HKD500,000 per depositor per Scheme member, including both principal and interest. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

**Ordinary Shares subject to Possible Redemption**

All of the 5,595,000 Ordinary Shares sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company's liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company's amended and restated certificate of incorporation.

The Company accounted for its ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480, "Distinguishing Liabilities from Equity" (ASC 480). Ordinary shares subject to mandatory redemption (if any) were classified as a liability instrument and will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company's control) were classified as temporary equity. At all other times, ordinary shares were classified as stockholders' equity. In accordance with ASC 480-10-S99, the Company classified the ordinary shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company.

Given that the 5,595,000 ordinary shares sold as part of the units in the IPO were issued with other freestanding instruments (i.e., rights), the initial carrying value of ordinary shares classified as temporary equity has been allocated to the proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes in redemption value as a charge against retained earnings or, in the absence of retained earnings, as a charge against additional paid-in-capital over an expected 15-month period, which is the initial period that the Company has to complete a Business Combination.

**Over-allotment Option**

The over-allotment option granted to the underwriter was deemed to be a freestanding financial instrument indexed to the contingently redeemable shares and was accounted for as a liability pursuant to ASC Topic 480, "Distinguishing Liabilities from Equity" ("ASC 480"). On May 30, 2025, the over-allotment option represented the option to purchase up to 155,000 Units at $10.00 per Unit, which would expire on July 13, 2025. On May 30, 2025, the fair value of the over-allotment liability was $39,900, which was determined using Binomial option pricing model.

**Related Parties**

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

**Income Taxes**

The Company accounts for income taxes under ASC 740 Income Taxes ("ASC 740"). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of May 30, 2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company determined that the Cayman Islands is the Company's only major tax jurisdiction.

There is currently no taxation imposed on income by the Government of the Cayman Islands.

**Recent Accounting Pronouncements**

In August 2020, the Financial Accounting Standards Board (FASB) issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity. The update simplifies the accounting for convertible instruments by removing certain separation models in Subtopic 470-20, Debt—Debt with Conversion and Other Options for convertible instruments and introducing other changes. As a result of FASB ASU No. 2020-06, more convertible debt instruments will be accounted for as a single liability measured at its amortized cost and more convertible preferred stock will be accounted for as a single equity instrument measured at its historical cost, as long as no features require bifurcation and recognition as derivatives. The amendments are effective for smaller reporting companies for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted ASU No. 2020-06 since inception. The impact to our balance sheet, statement of operations and cash flows was not material.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker ("CODM"), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 on April 29, 2024.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company's management does not believe the adoption of ASU 2023-09 will have a material impact on its financial statements and disclosures.

Management does not believe that any recently issued, but not effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's financial statements.

**Note 3 — Initial Public Offering**

On May 30, 2025, the Company consummated its IPO of 5,000,000 Units, at $10.00 per Unit, generating gross proceeds of $50,000,000. The Company granted the underwriter a 45-day option to purchase up to an additional 750,000 Units at the IPO price to cover over-allotments. On May 29, 2025, the over-allotment option was exercised in part, and 595,000 Units, at $10.00 per Unit were sold, generating gross proceeds of $5,950,000 and deposited into the Trust Account.

Each unit has an offering price of $10.00 and consists of one ordinary share ("Public Share") and one right ("Public Right") to receive one-eighth (1/8) of an ordinary share upon the consummation of the initial business combination.

As of May 30, 2025, the Company incurred offering costs of approximately $1,308,056, consisting of $559,500 and $493,482 of underwriting commissions which were paid in cash and Representative Shares (55,950 ordinary shares) at the closing date of the IPO, respectively and $255,074 of other offering costs.

Meanwhile, pursuant the underwriting agreement, 1.0% of the gross proceeds of the IPO, or $559,500, will be paid in cash, and 55,950 representative shares will be issued, both of which as the deferred underwriting commission at the consummation of a Business Combination.

All of the 5,595,000 public shares sold as part of the Public Units in the IPO contain a redemption feature which allows for the redemption of such public shares if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company's amended and restated memorandum and articles of association, or in connection with the Company's liquidation. In accordance with the SEC and its staff's guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require common stock subject to redemption to be classified outside of permanent equity.

The Company's redeemable ordinary share is subject to SEC and its staff's guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to accrete changes in the redemption value over the period from the date of issuance which is the IPO date. The accretion or remeasurement is treated as a deemed dividend and charges against retained earnings or, in the absence of retained earnings, by charges against additional paid-in capital.

**Note 4 — Private Placement**

Simultaneously with the closing of the IPO, the Sponsor purchased an aggregate of 253,875 Placement Units at a price of $10.00 per Placement Unit raising $2,538,750 in the aggregate.

The proceeds from the sale of the Placement Units were added to the net proceeds from the IPO held in the Trust Account. The Private Placement Units are identical to the Public Units sold in this IPO, subject to limited exceptions. The holder of the Private Placement Units will be entitled to registration rights. In addition, these Private Placement Units may not, subject to certain limited exceptions, be redeemable, transferred, assigned or sold until the later of the completion of our initial business combination or 15 months following the closing of the IPO.

**Note 5 — Related Party Transactions**

**Nature of relationship with the related party:**

The following is a list of the related party, with which the Company has transactions:

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| | | |
|:---|:---|:---|
| **No.** | **Name of Related Parties** | **Relationship** |
| 1 | MACRO DREAM Holdings Limited | Founder and sponsor of the Company |

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**Transactions with the related party:**

**Founder Shares**

On December 27, 2024, the sponsor acquired 1,437,500 ordinary shares ("Founder shares") for an aggregate purchase price of $25,000.

As of May 30, 2025, there were 1,437,500 Founder shares issued and outstanding, among which, up to 38,750 Founder Shares are subject to forfeiture if the underwriters' over-allotment is not exercised in full.

The sponsor has agreed not to transfer, assign or sell their Founder Shares (excluding any units or shares comprising the units acquired in the offering) until the earlier to occur of (a) 180 days after the completion of our initial business combination and (b) upon completion of our initial business combination, (x) if the last reported sale price of our ordinary shares equals or exceeds $12.00 per unit (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination or (y) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any permitted transferees would be subject to the same restrictions and other agreements of our sponsor, directors and executive officers with respect to any founder shares.

**Promissory Note — Related Party**

On August 20, 2024, the Company issued a promissory note to the sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of $475,000 (the "Promissory Note") to be used for a portion of the expenses for the IPO.

This loan is non-interest bearing, unsecured and is due at the earlier of (1) March 31, 2025 or (2) the closing of the IPO. The loan will be repaid upon the closing of the IPO out of the offering proceeds not held in the Trust Account. The Company has drawn down the full principal sum of the Promissory Note.

On March 31, 2025, the sponsor irrevocably waived the requirement that the principal balance of the Promissory Note shall be payable by the Company on March 31, 2025. And the principal balance of the Promissory Note shall remain payable by the Company on the date on which the Company consummates the IPO.

Shortly after completion of the IPO, the promissory note was fully repaid. As of May 30, 2025, no amounts under the Promissory Note have been drawn.

**Working Capital Loans**

In addition, in order to finance transaction costs in connection with an intended initial Business Combination, the sponsor, the Company's officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes the initial Business Combination, it intends to repay such loaned amount at closing. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such working capital loans ("Working Capital Loans") made by the sponsor, the Company's officers and directors, or the Company's or their affiliates to the Company prior to or in connection with its initial Business Combination may be convertible into units, at a price of $10.00 per unit at the option of the lender, upon consummation of its initial Business Combination. The units would be identical to the Placement Units.

As of May 30, 2025, the Company had no borrowings under the Working Capital Loans.

**Administrative Support Services**

Commencing on the effective date of the registration statement of the IPO, the Company has agreed to pay an affiliate of the sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative support. Upon completion of its initial Business Combination or its liquidation, the Company will cease paying these monthly fees.

**Note 6 — Shareholder's Equity**

**Ordinary shares**

The Company is authorized to issue 500,000,000 ordinary shares with a par value of $0.0001 per share. On April 29, 2024, the Company issued 1 ordinary share to Ogier Global Subscriber (Cayman) Limited (the "Subscriber"). On May 14, 2024, the Subscriber transferred 1 ordinary share to the sponsor, meanwhile, the Company issued 9,999 ordinary shares to the sponsor for an aggregate purchase price of $1. On December 27, 2024, the Company issued 1,437,500 ordinary shares to the sponsor including an aggregate of 187,500 shares that are subject to forfeiture to the extent that the underwriter's over-allotment option is not exercised in full or in part, so that the initial shareholder will own 20% of the Company's issued and outstanding ordinary shares (excluding the Private Placement Units and Representative Shares (See Note 7) and assuming the initial shareholder does not purchase any shares in the Proposed Public Offering). Meanwhile, the sponsor irrevocably surrendered to the Company for cancellation and for nil consideration of 10,000 ordinary shares.

On May 30, 2025, the Company consummated its IPO of 5,000,000 units at $10.00 per Unit, with the exercise of the underwriter's over-allotment option in part and 595,000 units were sold, generating gross proceeds of $55,950,000. As of May 30, 2025, 38,750 ordinary shares were subject to forfeiture as the over-allotment option is not exercised in full by the underwriters.

Simultaneously with the consummation of the closing of the IPO, the Company issued 253,875 ordinary shares to the Sponsor in the private placement and generating gross proceeds of $2,538,750.

On May 30, 2025, out of the proceeds from the IPO and the private placement, $1,284,375 has not been received by the Company due to interbank processing timelines beyond the Company's control, and was recorded as subscription receivable. The Company expects to receive within ten working days.

On May 30, 2025, the Company issued 55,950 Representative Shares to the representative of the underwriters (and/or its designees) as part of the underwriting compensation. The representative shares have deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the commencement of sales in this offering pursuant to FINRA Rule 5110I(1). Pursuant to FINRA Rule 5110I(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the commencement of sales in this offering, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following May 30, 2025 except to any underwriter and selected dealer participating in the offering and their officers, partners, registered persons or affiliates.

As of May 30, 2025, as a result of closing of the IPO, the exercise of the Representative's Over-allotment Option in part and the sales of Placement Units in the private placement, there were 7,342,325 ordinary shares issued and outstanding, including 5,595,000 ordinary shares subject to possible redemption, which are classified as temporary equity, and 1,747,325 ordinary shares. 1,747,325 ordinary shares issued and outstanding, consisted of 1,437,500 ordinary shares of founder shares, 253,875 ordinary shares from private placement and 55,950 ordinary shares to the underwriter.

**Rights**

As of May 30, 2025, there were 5,595,000 public rights included in the Public Units and 253,875 private rights include in the Placement Units outstanding. There was no right attached to the Representative Shares. Except in cases where the Company is not the surviving company in a business combination, each holder of a right will receive one-eighth (1/8) of an ordinary share (the "Rights") upon consummation of the initial business combination. In the event the Company will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-eighth (1/8) of a share of the Company underlying each right upon consummation of the business combination unless otherwise waived in the course of the business combination. No fractional shares will be issued upon exchange of rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a business combination. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman Law. If the Company is unable to complete an initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company's assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial Business Combination. Accordingly, the rights may expire worthless.

**Note 7 — Commitments & Contingencies**

**Registration Rights**

The holders of the Founder Shares and Private Placement Units (and their underlying securities) were entitled to registration rights pursuant to the registration rights agreement to be signed prior to or on the effective date of the IPO, requiring the Company to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to the completion of the initial business combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

**Underwriting Agreement**

The Company granted the underwriters a 45-day option from the effective date of the IPO to purchase up to an additional 750,000 units to cover over-allotments at the IPO price. As of May 30, 2025, the over-allotment options were exercised in part, and 595,000 Units, at $10.00 per Unit were sold, generating gross proceeds of $5,595,000 and deposited into the Trust Account.

The underwriters were entitled to an underwriting discount of 4.0% of the gross proceeds of the IPO, of which (i) 1% of the gross proceeds of the IPO, or $559,500, were paid in cash at the closing of the IPO, (ii) 55,950 ordinary shares with fair value of $493,482 were paid at the closing of the IPO as Representative Shares (such representative shares shall be registered so as to circumvent reliance on the Rule 144 exemption and shall only therein be subject to FINRA's 180-day lock-up period rule), (iii) 1.0% of the gross proceeds of the IPO, or 559,500, will be paid in cash, and 55,950 representative shares will be issued, both of which as the deferred underwriting commission at the consummation of a Business Combination.

**Note 8 — Subsequent Events**

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date of this report when the financial statements were issued. The Company did not identify any subsequent events that would require adjustment or disclosure in the financial statements.

## Exhibit 99.2

**Exhibit 99.2**

**Wintergreen Acquisition Corp. Announces the Closing of its Initial Public Offering and Partial Exercise of Underwriter's Over-Allotment Option to Purchase Additional Units**

NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Wintergreen Acquisition Corp. (NASDAQ: WTGUU) ("Wintergreen" or the "Company") today announced the closing of its initial public offering of 5,595,000 units. This includes 595,000 units issued pursuant to the underwriter's partial exercise of its over-allotment option, which also closed today, May 30, 2025. The offering was priced at $10.00 per unit, resulting in gross proceeds of $55,950,000.

Wintergreen's units are listed on the Nasdaq Capital Market ("NASDAQ") and began trading under the ticker symbol "WTGUU" on May 29, 2025. Each unit consists of one ordinary share, par value $0.0001 per share, and one right entitling the holder thereof to receive one-eighth (1/8) of one ordinary share upon consummation of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NASDAQ under the symbols "WTG" and "WTGUR," respectively.

Of the proceeds received from the consummation of the initial public offering (including the partial exercise of the over-allotment option) and a simultaneous private placement of 253,875 placement units to the Company's sponsor, MACRO DREAM Holdings Limited, for an aggregate purchase price of $2,538,750, a total of $56,089,875 (or $10.025 per public unit) was placed into a trust account in the United States at Wilmington Trust, National Association.

The Company intends to use the net proceeds from the offering to acquire a business focused on the technology, media, and telecommunications industries. Its search for a target business will focus on companies with operations or prospective operations in the Asia Pacific region, including the Greater China region, that have advanced and highly differentiated solutions.

D. Boral Capital LLC acted as sole book-running manager in the offering.

Concord & Sage P.C. served as U.S. legal counsel to Wintergreen on the initial public offering, and Ogier served as Cayman Islands legal counsel to Wintergreen. Robinson & Cole LLP served as legal counsel to D. Boral Capital LLC.

A registration statement on Form S-1 (File No. 333-286795) relating to these securities has been filed with the Securities and Exchange Commission ("SEC"), and was declared effective on May 28, 2025.

The offering was made by means of a prospectus. Copies of the prospectus may be obtained from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, by phone at +1 (212) 970 5150 or emailing <u>info@dboralcapital.com</u>. Copies of the registration statement can also be obtained by visiting EDGAR on the SEC's website at <u>www.sec.gov</u>.

**No Offer.** This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

**About Wintergreen Acquisition Corp.** Wintergreen Acquisition Corp. is a newly incorporated blank check company incorporated as a Cayman Islands exempted company (company number 409590) for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Its search for a target business will focus on companies with operations or prospective operations in the Asia Pacific region, including the Greater China region, that have advanced and highly differentiated solutions.

**Forward-Looking Statements** This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

**Source:** Wintergreen Acquisition Corp.

**Contact:**

Wintergreen Acquisition Corp.

Yongfang Yao

Chief Executive Officer and Chairman

Room 8326, Block B, Hongxiang Cultural and Creative Industrial Park,

90 Jiukeshu West Road, Tongzhou District, Beijing, PRC

Wintergreen Acquisition Corp.

Bingzhao Tan

CFO

008613652371477