WEN Acquisition Corp completed its IPO in May 2025, raising $300 million, and announced the trading separation of Class A Shares and Warrants effective July 7, 2025.

• WEN Acquisition Corp closed its Initial Public Offering on May 19, 2025, raising $300 million on Nasdaq by selling 30,015,000 Units at $10.00 per Unit, each consisting of one Public Share and one-half Public Warrant [N2].
• The company announced the trading separation of Class A Shares and Warrants starting July 7, 2025 [N1].

The company benefits from a management team with deep fintech and digital asset expertise and a strong SPAC track record, which may facilitate identifying and completing a Business Combination with a promising fintech platform. The substantial IPO proceeds held in trust provide financial resources to pursue acquisitions. The focus on blockchain technology and digital assets aligns with growing sectors in financial services.

The company has not yet identified a Business Combination target and has no operating revenues, which creates uncertainty about future performance. The deadline to complete a Business Combination is May 19, 2027, and failure to do so will result in liquidation. The fintech and digital asset sectors are competitive and rapidly evolving, which may pose challenges in identifying suitable targets. There is also substantial doubt about the company's ability to continue as a going concern without completing a Business Combination.

The company’s moat lies in its management team's extensive experience in fintech, payments, stablecoin, and digital asset sectors, as well as their track record in SPAC business combinations. The focus on blockchain-enabled fintech infrastructure companies provides a specialized investment thesis. The Trust Account structure and the backing of experienced advisors add to the company's credibility and operational readiness.

• Business Combination Deadline: The company must complete its initial Business Combination by May 19, 2027, or face liquidation and distribution of Trust Account funds to shareholders.
• Going Concern Doubt: Management has expressed substantial doubt about the company's ability to continue as a going concern due to the need for additional financing and the approaching Business Combination deadline.
• No Operating Revenues: The company has not generated any operating revenues to date and depends entirely on completing a Business Combination to commence operations.
• Market and Industry Risks: The fintech and digital asset sectors are competitive and rapidly changing, which may affect the company's ability to identify and successfully acquire a suitable target.

• WEN Acquisition Corp is a blank check company incorporated on January 13, 2025, formed to effect a Business Combination with one or more businesses or entities.
• The company focuses on infrastructure companies in the fintech sector, particularly those enabling digital assets such as stablecoins through blockchain integration with traditional financial systems.
• The management team and advisors have deep expertise in fintech, payments, stablecoin, and digital asset sectors.
• The company completed its Initial Public Offering (IPO) on May 19, 2025, raising gross proceeds of approximately $300.15 million by selling 30,015,000 Units at $10.00 per Unit.
• Each Unit consists of one Public Share and one-half of one Public Warrant, with each whole Public Warrant exercisable for one Class A Ordinary Share at $11.50 per share.
• Simultaneously with the IPO, the company sold 7,220,000 Private Placement Warrants at $1.00 each, generating $7.22 million in gross proceeds.
• The total proceeds from the IPO and Private Placement were placed in a Trust Account.
• The company has not yet selected a specific Business Combination target and has generated no operating revenues to date.
• The company must complete its initial Business Combination by May 19, 2027, or earlier if approved by the board or shareholders, or later if shareholders approve an extension.
• If the Business Combination is not completed by the deadline, the company will liquidate and distribute the Trust Account funds to shareholders.
• The management team includes CEO and Chairman Julian M. Sevillano and CFO Jurgen van de Vyver, with advisors Ryan Gilbert and Shami Patel, all with significant fintech and SPAC experience.
• The company looks for acquisition targets with the ability to sustain and grow free cash flow, strong management, advantages from being public, and defensible competitive advantages leveraging blockchain technology.
• The company’s current assets as of June 30, 2026, were $392,617 and current liabilities were $198,827, resulting in a current ratio of 1.97.
• Net income reported for the period ending June 30, 2026, was $2,589,257.
• Basic and diluted earnings per share were -$0.01 as of March 31, 2025.
• The company announced the trading separation of Class A Shares and Warrants starting July 7, 2025.
• The IPO and trading separation announcements were reported by Nasdaq.com in May and July 2025 respectively.