EX-99.1 2 ea021395001ex99-1_aamission.htm PRO-FORMA BALANCE SHEET OF AA MISSION ACQUISITION CORP. DATED SEPTEMBER 5, 2024 (UNAUDITED)

Exhibit 99.1

 

AA MISSION ACQUISITION CORP

PRO FORMA UNAUDITED BALANCE SHEET

September 5, 2024

 

   August 2,
2024
   Pro Forma Adjustments     As Adjusted 
         (unaudited)      (unaudited) 
Assets                 
Current assets:                 
Cash  $1,129,091   $-     $1,129,091 
Prepaid expenses   48,058    -      48,058 
Total current assets   1,177,149           1,177,149 
Cash held in Trust Account   301,500,000    45,000,000  (a)     
         900,000  (c)     
         (675,000) (d)   346,725,000 
Total Assets  $302,677,149   $45,225,000     $347,902,149 
                  
Liabilities, Class A Ordinary Shares Subject to Possible Redemptions and Shareholders’ Equity                 
Current liabilities:                 
Accounts payable and accrued expenses  $95,600   $-     $95,600 
Due to related party   514,874    -      514,874 
Over-allotment liability   1,652,200    (1,652,200) (f)   - 
Total current liabilities   2,262,674    (1,652,200)     610,474 
Deferred underwriting commissions   7,500,000    1,125,000  (g)   8,625,000 
Total liabilities   9,762,674    (527,200)     9,235,474 
                  
Commitments and Contingencies                 
Class A ordinary shares, $0.0001 par value; 34,500,000 shares subject to possible redemption at $10.05 per share   301,500,000    45,000,000  (a)     
         5,061,060  (b)     
         (3,195,000) (e)     
         (1,641,060) (h)   346,725,000 
Shareholders’ Deficit                 
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding   -           - 
Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 849,000 shares issued and outstanding (excluding 34,500,000 shares subject to possible redemption)   76    9  (c)   85 
Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 8,625,000 shares issued and outstanding   863           863 
Additional paid-in capital   -    (5,061,060) (b)     
         899,991  (c)     
         (675,000) (d)     
         3,195,000  (e)     
         1,652,200  (f)     
         (1,125,000) (g)     
         1,641,060  (h)   527,191 
Accumulated deficit   (8,586,464)          (8,586,464)
Total Shareholders’ Deficit   (8,585,525)   5,27,200      (8,058,325)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit  $302,677,149   $45,225,000     $347,902,149 

  

See note to Unaudited Pro Forma Balance Sheet

 

 

 

 

AA MISSION ACQUISITION CORP

 

NOTE 1 — CLOSING OF OVER-ALLOTMENT OPTION AND PRIVATE PLACEMENT (UNAUDITED)

 

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of AA Mission Acquisition Corp (the “Company”) as of September 5, 2024, adjusted for the closing of the underwriters’ over-allotment option (the “Over-allotment”) and related transactions, which occurred on September 5, 2024, as described below.

 

On August 2, 2024, the Company consummated the initial public offering (“IPO”) of 30,000,000 of its units (“Units”) at a purchase price of $10.00 per Unit, generating gross proceeds of $300,000,000. Each Unit consists of one Class A ordinary share of the Company (the “Public Shares”) and one-half of one redeemable warrant (the “Public Warrants”).

 

The Sponsors have purchased an aggregate of 759,000 Private Placement Units at a price of $10.00 per Private Placement Unit, amounting to $7,590,000, from the Company in a private placement that occurred simultaneously with the closing of the IPO. The proceeds from the sale of the Private Placement Units are added to the net proceeds from the IPO held in the Trust Account. If the Company does not complete a business combination within the combination period, the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption of the Ordinary Shares (subject to the requirements of applicable law).

 

The Company granted the underwriters a 45-day option from the effective date of the Company’s registration statement for its IPO to purchase up to 4,500,000 additional Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions. On September 5, 2024, the underwriters exercised the over-allotment option with respect to the 4,500,000 additional Units, generating gross proceeds $45,000,000 to the Company. Simultaneously with the sale of the over-allotments option units, the Company consummated the Private Placement of an additional 90,000 Private Placement Units generating gross proceeds of $900,000.

 

As of September 5, 2024, a total of $346,725,000 of the net proceeds from the IPO (including the over-allotment Units) and the sale of Private Placement Units were placed in a trust account with Continental Stock Transfer & Trust acting as trustee.

 

2

 

 

Unaudited Pro forma adjustments to reflect the exercise of the underwriters’ over-allotment option described above and other related transactions are as follows:

 

S.No.  Particulars  Debit   Credit 
            
a)  Cash held in Trust Account   45,000,000      
   Class A ordinary shares subject to possible redemption        45,000,000 
   To record the sale of 4,500,000 over-allotment Units at $10.00 per Unit on September 5, 2024          
              
b)  Additional paid-in capital   5,061,060     
   Class A ordinary shares subject to possible redemption        5,061,060 
   To record the change in ordinary shares subject to redemption from the sale of the over-allotment Units          
              
c)  Cash held in Trust Account   900,000      
   Class A ordinary shares        9 
   Additional paid-in capital        899,991 
   To record sale of 90,000 additional Private Placement Units at $10.00 per Unit on September 5, 2024          
              
d)  Additional paid-in capital   675,000      
   Cash held in Trust Account        675,000 
   To record the cash underwriting commission arising from the sale of the over-allotment Units          
              
e)  Class A ordinary shares subject to possible redemption   3,195,000      
   Additional paid-in capital        3,195,000 
   To record allocation of offering proceeds to warrants based on valuation          
              
f)  Over-allotment liability   1,652,200      
   Additional paid-in capital        1,652,200 
   To transfer the over-allotment liability into additional paid-in capital upon exercise of the over-allotment Units          
              
g)  Additional paid-in capital   1,125,000      
   Deferred underwriting commissions        1,125,000 
   To record additional deferred underwriting fees arising from the sale of over-allotment Units          
              
h)  Class A ordinary shares subject to possible redemption   1,641,060      
   Additional paid-in capital        1,641,060 
   To reduce the amount of balance in ordinary shares subject to redemption by the cash underwriting commission related to public shares          

 

3