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ARBC:OrdinarySharesRedeemedMember spac:RedemptionAt100PercentOfMaximumMember ARBC:FullOverAllotmentMember 2025-12-31 2025-12-31 iso4217:USD shares iso4217:USD shares pure true 0002073515 S-1/A Limited Liability Company AMENDMENT NO. 4 ARC Group Acquisition I Corp D8 Non-accelerated Filer true true false true true We have until the date that is P12M true true 200000 10.00 2000000 12321429 25000 1607143 0.00483 true <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td colspan="34" style="border-bottom: black 1pt solid; text-align: center">As of December 31, 2025</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Offering Price of $10.00</td> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center">25% of Maximum Redemption</td> <td> </td> <td> </td> <td 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id="xdx_906_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--SecurityClassAxis__custom--OfferingPriceOf10.00PerUnitMember_zdskIzTSLOV4" style="font-size: 10pt">5.81</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_900_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember_zDW60IamvVH4" style="font-size: 10pt">5.11</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90D_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zpeEInozzmxb" style="font-size: 10pt">2.89</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90A_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember_zMaceYKhUpw6" style="font-size: 10pt">4.12</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90A_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zWJzlj8TXsya" style="font-size: 10pt">3.88</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_904_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember_zwrCAIcIYD5g" style="font-size: 10pt">2.63</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90D_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zQFskLbx042b" style="font-size: 10pt">5.37</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90C_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember_zyOb9cceueSi" style="font-size: 10pt">0.14</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90C_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zy48p2FFfO0d" style="font-size: 10pt">7.86</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td colspan="34" style="text-align: center">Assuming No Exercise of Over-Allotment Option</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90E_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--SecurityClassAxis__custom--OfferingPriceOf10.00PerUnitMember_z74OdeAGDeub" style="font-size: 10pt">5.80</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90D_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember_zrLDcSEa1V06" style="font-size: 10pt">5.10</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_904_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zPyJVHSeQZhl" style="font-size: 10pt">2.90</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_902_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember_zPRUviROUsek" style="font-size: 10pt">4.11</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_903_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zykSLJrQY0x6" style="font-size: 10pt">3.89</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90F_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember_z3jTNPfen1tb" style="font-size: 10pt">2.63</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_908_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_z8wi0q5otgJ1" style="font-size: 10pt">5.37</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_90E_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember_zIWCPmsP6xo4" style="font-size: 10pt">0.15</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDQpIEZvcmVwYXJ0LCBBZGp1c3RlZCBOVEJWAA__" id="xdx_905_espac--NetTangibleBookValueAdjustedPerShare_pid_c20251231__20251231__spac--OverAllotmentOptionAxis__spac--OverAllotmentOptionNotExercisedMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember__spac--SecurityClassAxis__custom--DifferenceBetweenNTBVAndOfferingPriceMember_zfYyDdRJvLCk" style="font-size: 10pt">7.85</td> <td> </td></tr> </table> 5.81 5.11 2.89 4.12 3.88 2.63 5.37 0.14 7.86 5.80 5.10 2.90 4.11 3.89 2.63 5.37 0.15 7.85 true <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; padding-bottom: 0pt; padding-left: 0pt; vertical-align: bottom; width: 22%; text-indent: 0pt">Entity/Individual</td> <td style="padding-left: 0pt; padding-bottom: 0pt; vertical-align: top; text-align: center; width: 2%; text-indent: 0pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 0pt; padding-left: 0pt; vertical-align: bottom; text-align: center; width: 37%; text-indent: 0pt">Amount of Compensation to be Received or Securities Issued or to be Issued</td> <td style="padding-left: 0pt; padding-bottom: 0pt; vertical-align: top; width: 2%; text-indent: 0pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 0pt; padding-left: 0pt; text-align: center; vertical-align: bottom; width: 37%; text-indent: 0pt">Consideration Paid or to be Paid</td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt">MFH 2, LLC</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90D_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--ClassBOrdinarySharesMember_fKDEp_zMmp0cxOr8Hc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,500,000 Class B ordinary shares(1)</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_903_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--ClassBOrdinarySharesMember_zpQOK2Shszpk">25,000</td></tr> <tr style="vertical-align: top; background-color: white"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90B_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--PrivatePlacementUnitsMember_zKe0rjwKaxZe">200,000 private placement units to be purchased simultaneously with the closing of this offering</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_907_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--PrivatePlacementUnitsMember_zDY1jdAUIlvk">2,000,000</td></tr> <tr style="vertical-align: top; background-color: white"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGIpKDYpIFByb3NwZWN0dXMgU3VtbWFyeSwgU3BvbnNvciBDb21wZW5zYXRpb24A" id="xdx_903_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408_zt9wPJgvBeXj">20,000 per month, commencing on the first date on which our securities are listed on Nasdaq</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Office space, administrative and shared personnel support services</td></tr> <tr style="vertical-align: top; background-color: white"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Up to $500,000</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Repayment of loans made to us to cover offering related and organizational expenses</td></tr> <tr style="vertical-align: top; background-color: white"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Up to $2,500,000 in working capital loans, which loans may be converted into private placement units of the post-business combination entity at the price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90E_espac--PricePaidOrToBePaidForSecuritiesPerShare_pid_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--WorkingCapitalMember_znoyQrkmrnub">10.00 per private placement unit</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Working capital loans to finance transaction costs in connection with an initial business combination</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt; width: 22%">MFH 2, LLC, our officers, our directors, or our or their affiliates</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt; width: 37%">Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination.</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt; width: 37%">Services in connection with identifying, investigating and completing an initial business combination</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt">Finder’s, advisory, consulting or success fees</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Payment for any services rendered in order to effectuate the completion of our initial business combination, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account We may engage our sponsor or an affiliate of our sponsor as an advisor or otherwise in connection with our initial business combination and certain other transactions and pay such person or entity a fee in an amount that constitutes a market standard for comparable transactions</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt">Holders of Class B ordinary shares</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt">Anti-dilution protection upon conversion into Class A ordinary shares at a greater than one-to-one ratio</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Issuance of the Class A ordinary shares issuable in connection with the conversion of the founder shares on a greater than one-to-one basis upon conversion</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt">Ian Hanna(2)</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_903_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--IanHannaMember_fKDIp_zEnNQ4nSQ9e9">320,000 representative shares (as defined below)</td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-bottom: 0pt; padding-left: 0pt; text-align: justify; text-indent: 0pt">Underwriter compensation in connection in connection with this offering</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Assumes the full forfeiture of 675,000 founder shares and no exercise of the underwriters’ over-allotment option.</td> </tr><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0F_zdlHCsmsLhDk" style="text-align: left">(2)</td><td id="xdx_F15_z9fFwDqzHpj6" style="text-align: justify">ARC Group Securities LLC, the representative of the underwriters, beneficially owns 320,000 representative shares and Ian Hanna, the CEO of ARC Group Securities LLC and our Chief Operating Officer and Executive Director, is deemed a promoter of our company. Assumes the underwriters’ overallotment option is not exercised.</td></tr> </table> 4500000 25000 200000 2000000 20000 10.00 320000 <p id="xdx_897_espac--SpacRegisteredOfferingProspectusSummaryIdentifyAndEvaluatePotentialBusinessCombinationCandidatesMannerTextBlock_dU_zGIuxc2ynJhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Business Strategy Our acquisition strategy focuses on identifying and acquiring a business that aligns with and enhances the extensive expertise of our management team. We will leverage our sponsor’s robust network and our management team’s comprehensive industry relationships as a leader in SPAC advisory and investment banking to generate a pipeline of compelling business combination opportunities. Following the completion of this offering, our management team will immediately commence a disciplined process of target identification, due diligence, and transaction evaluation. Our management team, in collaboration with ARC Group Limited and its advisers and affiliates, brings proven expertise in: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">identifying, structuring, and executing strategic business acquisitions and divestitures;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">successfully closing transactions in varying economic climates and market conditions across multiple jurisdictions;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">cultivating and maintaining relationships with business owners, institutional investors, and executive leadership teams;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">orchestrating complex transaction negotiations across diverse business environments;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">securing strategic capital partnerships and navigating financial markets;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">providing operational leadership, developing effective corporate strategies, and attracting and developing exceptional talent;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">implementing post-acquisition integration strategies and synergy realization plans; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">driving sustainable growth through strategic initiatives, operational improvements, and calculated geographic and product line expansions.</td></tr> </table> While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team’s background, and to capitalize on the ability of our officers and directors to identify and acquire a business or businesses consistent with the experience of our management team and affiliates of our sponsor. We have identified the following general criteria and guidelines that we believe are important in evaluating prospective target businesses. We will focus on these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter into our initial business combination with a target business that does not meet these criteria and guidelines. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies with an attractive competitive position</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies with knowledgeable management teams with a proven track record and relevant industry experience</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies with high revenue growth or the potential for high revenue growth</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies with the ability to generate future profits and free cash flows</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies with scalability across multiple geographies</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">Companies that benefit from being a publicly traded company</td></tr> </table> These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our management may deem relevant. We may decide to enter into our initial business combination with a target business that does not meet the above criteria and guidelines, and in the event we do so, we will disclose that the target business does not meet the above criteria in our shareholder communications related to our initial business combination, which, as discussed in this prospectus, would be in the form of proxy solicitation materials or tender offer documents that we would file with the SEC. We have until the date that is 12 months from the closing of this offering (or 15 months from the closing of this offering if our sponsor exercises its three-month extension option), as may be extended by shareholder approval to amend our amended and restated memorandum and articles of association to extend the date by which we must consummate our initial business combination, or until such earlier liquidation date as our board of directors may approve, to consummate our initial business combination. true There are no limitations on the number of times we may seek shareholder approval for an extension or the length of time of any such extension. However, if we seek shareholder approval for an extension, holders of our public shares will be offered an opportunity to redeem their shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned thereon (less taxes payable), divided by the number of then issued and outstanding public shares, subject to applicable law. true P36M true Although our sponsor is permitted to undertake any activities permitted under the Delaware Limited Liability Company Act and other applicable law, our sponsor’s business is focused on investing in our company. Datuk Dr. Wong MFH 2, LLC The following table sets forth the payments to be received by our promoters and our sponsor and its affiliates from us prior to or in connection with the completion of our initial business combination and the securities issued and to be issued by us to our sponsor or its affiliates: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; width: 22%">Entity/Individual</td> <td style="padding-left: 0pt; padding-bottom: 1pt; width: 2%; text-align: center; text-indent: 0pt"> </td> <td style="border-bottom: black 1pt solid; width: 37%; text-align: center">Amount of Compensation to be Received or Securities Issued or to be Issued</td> <td style="padding-bottom: 1pt; width: 2%; text-align: center"> </td> <td style="border-bottom: black 1pt solid; width: 37%; text-align: center">Consideration Paid or to be Paid</td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="padding-left: 0.25in; text-indent: -0.25in">MFH 2, LLC</td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_908_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--ClassBOrdinarySharesMember_fKDEp_za30gLrtjyBe" style="font-size: 10pt">4,500,000 Class B ordinary shares(1)</td> <td> </td> <td style="text-align: justify">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90F_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--ClassBOrdinarySharesMember_zTPNG8IZ6iWe">25,000</td></tr> <tr style="vertical-align: top; background-color: white"> <td style="padding-left: 0.25in; text-indent: -0.25in"> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_909_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--PrivatePlacementUnitsMember_zxCznoJiBEK9">200,000 private placement units to be purchased simultaneously with the closing of this offering</td> <td> </td> <td style="text-align: justify">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90F_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--Mfh2LlcMember__spac--CompensationNatureAxis__custom--PrivatePlacementUnitsMember_zWfByjjtvsZ3">2,000,000</td></tr> <tr style="vertical-align: top; background-color: white"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGIpKDYpIFByb3NwZWN0dXMgU3VtbWFyeSwgU3BvbnNvciBDb21wZW5zYXRpb24A" id="xdx_902_espac--PricePaidOrToBePaidForSecuritiesTotalAmount_c20260408__20260408_zrCV9JZ7Xnec">20,000 per month, commencing on the first date on which our securities are listed on the Nasdaq</td> <td> </td> <td style="text-align: justify">Office space, administrative and shared personnel support services</td></tr> <tr style="vertical-align: top; background-color: white"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify">Up to $500,000</td> <td> </td> <td style="text-align: justify">Repayment of loans made to us to cover offering related and organizational expenses</td></tr> <tr style="vertical-align: top; background-color: white"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify">Up to $2,500,000 in working capital loans, which loans may be converted into private placement units of the post-business combination entity at the price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_90C_espac--PricePaidOrToBePaidForSecuritiesPerShare_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--WorkingCapitalMember_ztvUXfveba4j">10.00 per private placement unit</td> <td> </td> <td style="text-align: justify">Working capital loans to finance transaction costs in connection with an initial business combination</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td>MFH 2, LLC, our officers, our directors, or our or their affiliates</td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGIpKDYpIFByb3NwZWN0dXMgU3VtbWFyeSwgU3BvbnNvciBDb21wZW5zYXRpb24A" id="xdx_989_espac--SpacSponsorNatureOfReimbursement_c20260408__20260408_zB8dLNYlbQ19" style="text-align: justify">Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination</td> <td> </td> <td style="text-align: justify">Services in connection with identifying, investigating and completing an initial business combination</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify">Finder’s, advisory, consulting or success fees</td> <td> </td> <td> Payment for any services rendered in order to effectuate the completion of our initial business combination, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account We may engage our sponsor or an affiliate of our sponsor as an advisor or otherwise in connection with our initial business combination and certain other transactions and pay such person or entity a fee in an amount that constitutes a market standard for comparable transactions</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td>Holders of Class B ordinary shares</td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify">Anti-dilution protection upon conversion into Class A ordinary shares at a greater than one-to-one ratio</td> <td> </td> <td style="text-align: justify">Issuance of the Class A ordinary shares issuable in connection with the conversion of the founder shares on a greater than one-to-one basis upon conversion</td></tr> <tr style="vertical-align: top; background-color: White"> <td> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td>Ian Hanna(2)</td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGEpKDMpIEZvcmVwYXJ0LCBTcG9uc29yIENvbXBlbnNhdGlvbgA_" id="xdx_901_espac--SecuritiesIssuedOrToBeIssuedShares_c20260408__20260408__spac--SpacSponsorAffiliateOrPromoterAxis__custom--IanHannaMember__spac--CompensationNatureAxis__custom--RepresentativeSharesMember_fKDIp_zW45qHVo92u1">320,000 representative shares (as defined below)</td> <td> </td> <td style="text-align: justify">Underwriter compensation in connection in connection with this offering</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">Assumes the full forfeiture of 675,000 founder shares and no exercise of the underwriters’ over-allotment option.</td> </tr><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F02_zwnKSh6FJt6f" style="text-align: left">(2)</td><td id="xdx_F17_zFGRVUIvaN7a" style="text-align: justify">ARC Group Securities, the representative of the underwriters, beneficially owns the representative shares and Ian Hanna, the CEO of ARC Group Securities and our executive director and COO, is deemed a promoter of our company. Assumes that the underwriter’s over-allotment option is not exercised.</td></tr> </table> 4500000 25000 200000 2000000 20000 10.00 Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination 320000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; width: 18%">Subject Securities</td> <td style="white-space: nowrap; width: 2%; text-align: center"> </td> <td style="border-bottom: black 1pt solid; width: 23%; text-align: center">Expiration Date</td> <td style="white-space: nowrap; width: 2%; text-align: center"> </td> <td style="border-bottom: black 1pt solid; width: 23%; text-align: center">Natural Persons and Entities Subject to Restrictions</td> <td style="white-space: nowrap; width: 2%; text-align: center"> </td> <td style="border-bottom: black 1pt solid; width: 30%; text-align: center">Exceptions to Transfer Restrictions</td></tr> <tr style="vertical-align: top"> <td style="padding-left: 9pt; text-indent: -9pt">Founder Shares</td> <td style="white-space: nowrap"> </td> <td style="text-align: left"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_902_espac--SpacSponsorDescriptionOfExpirationDatesOfRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__spac--FounderSharesMember_zGO9KxmJNjpi">The completion of our initial business combination.</td> <td style="white-space: nowrap"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_98B_espac--SpacSponsorPersonsAndEntitiesSubjectToRestrictions_c20260408__20260408__spac--SecurityClassAxis__spac--FounderSharesMember_z93h6gPsDkdb"> MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas </td> <td style="white-space: nowrap"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_98E_espac--SpacSponsorDescriptionOfExceptionsToRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__spac--FounderSharesMember_zuNJaFJZmHtj" style="text-align: justify">Transfers permitted (a) to our officers, directors, advisors or consultants, any affiliate or family member of any of our officers, directors, advisors or consultants, any members or partners of the sponsor or their respective affiliates and funds and accounts advised by such members or partners, any affiliates of the sponsor, or any employees of such affiliates, (b) in the case of an individual, as a gift to such person’s immediate family or to a trust, the beneficiary of which is a member of such person’s immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement, in connection with an extension of the completion window or in connection with the consummation of a business combination at prices no greater than the price at which the shares or warrants were originally purchased; (f) pro rata distributions from our sponsor to its respective members, partners or shareholders pursuant to our sponsor’s limited liability company agreement or other charter documents; (g) by virtue of the laws of the State of Delaware or our sponsor’s limited liability company agreement upon dissolution of our sponsor, (h) in the event of our liquidation prior to our consummation of our initial business combination; (i) in the event that, subsequent to our consummation of an initial business combination, we complete a liquidation, merger, share exchange or other similar transaction which results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property or (j) to a nominee or custodian of a person or entity to whom a transfer would be permissible under clauses (a) through (g); provided, however, that in the case of clauses (a) through (g) and clause (j) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreements (a transfer permitted by clauses (a) through (j) of this sentence is referred to as a “Permitted Transfer”).</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-left: 0pt; text-indent: 0pt; width: 18%">Private units (including component securities and securities underlying those component securities)</td> <td style="padding-left: 0pt; white-space: nowrap; width: 2%; text-indent: 0pt"> </td> <td style="padding-left: 0pt; text-align: left; width: 23%; text-indent: 0pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_90C_espac--SpacSponsorDescriptionOfExpirationDatesOfRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--PrivateUnitsMember_zDc1BBGim0L5">Locked up until the closing of the initial business combination</td> <td style="padding-left: 0pt; white-space: nowrap; width: 2%; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_98F_espac--SpacSponsorPersonsAndEntitiesSubjectToRestrictions_c20260408__20260408__spac--SecurityClassAxis__custom--PrivateUnitsMember_zfhDc22xh6kg" style="padding-left: 0pt; width: 23%; text-indent: 0pt"> MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas</td> <td style="padding-left: 0pt; width: 2%; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_988_espac--SpacSponsorDescriptionOfExceptionsToRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--PrivateUnitsMember_zAPwV6VNPN2b" style="padding-left: 0pt; text-align: justify; width: 30%; text-indent: 0pt">The securities are not transferable or saleable except in each case (a) to the subscriber’s officers or directors, any affiliates or family members of any of the Subscriber’s officers or directors, any members of the sponsor, or any affiliates of the sponsor, (b) in the case of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by virtue of the laws of the State of New York or Subscriber’s partnership agreement in the event of a subscriber’s liquidation; (f) in the event of the Company’s liquidation prior to the consummation of a Business Combination; provided, however, that in the case of clauses (a) through (f) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and by the same agreements entered into by the sponsor and the Subscriber with respect to such securities.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: top; padding-left: 0pt; text-indent: 0pt; width: 18%">Any units, warrants, ordinary shares or any other securities convertible into, or exercisable or exchangeable for, any units, ordinary shares, founder shares or warrants</td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; width: 2%; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-align: left; width: 23%; text-indent: 0pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_90C_espac--SpacSponsorDescriptionOfExpirationDatesOfRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--OthersMember_zwPNrDK2E018">The completion of the initial business combination</td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; width: 2%; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_986_espac--SpacSponsorPersonsAndEntitiesSubjectToRestrictions_c20260408__20260408__spac--SecurityClassAxis__custom--OthersMember_ztiASpWMd4If" style="padding-left: 0pt; vertical-align: top; width: 23%; text-indent: 0pt"> MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas </td> <td style="padding-left: 0pt; width: 2%; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_983_espac--SpacSponsorDescriptionOfExceptionsToRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--OthersMember_znFh9Cm7KPHl" style="padding-left: 0pt; vertical-align: top; width: 30%; text-indent: 0pt"> The lock-up period is pursuant to the underwriting agreement and can be waived with the prior written consent of ARC Group Securities. See “Underwriting (Conflicts of Interest) — Lock-up.” Our sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and private units pursuant to the letter agreement described in the immediately preceding paragraphs.</td></tr> <tr> <td style="vertical-align: top; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-align: justify; text-indent: 0pt"> </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-align: justify; text-indent: 0pt"> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-align: justify; text-indent: 0pt"> </td></tr> <tr> <td style="vertical-align: top; padding-left: 0pt; text-indent: 0pt">Representative shares</td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_90D_espac--SpacSponsorDescriptionOfExpirationDatesOfRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--RepresentativeSharesMember_zKssNT74Loz8">Locked up until the completion of the initial business combination. </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_983_espac--SpacSponsorPersonsAndEntitiesSubjectToRestrictions_c20260408__20260408__spac--SecurityClassAxis__custom--RepresentativeSharesMember_zP2UFcKnszQ" style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> ARC Group Securities IB Capital LLC </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAzKGEpKDkpIFJlc3RyaWN0aW9ucyBvbiBTZWxsaW5nIFNlY3VyaXRpZXMA" id="xdx_98E_espac--SpacSponsorDescriptionOfExceptionsToRestrictionsTextBlock_c20260408__20260408__spac--SecurityClassAxis__custom--RepresentativeSharesMember_zWobeIw3m9ea" style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> Subject to FINRA rules, ARC Group Securities may transfer the representative shares in a Permitted Transfer.</td></tr> <tr> <td style="vertical-align: top; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt"> </td></tr> <tr> <td style="vertical-align: top; padding-left: 0pt; text-indent: 0pt"> </td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt">The representative shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness of the registration statement of which this prospectus forms a part pursuant to Rule 5110(e)(1) of FINRA’s Conduct Rules, however, the representative of the underwriters have agreed to a lock-up of 180 days from the closing date of the Company’s initial business combination, which is beyond the required 180 day lock-up immediately following the date of the commencement of sales in this offering pursuant to FINRA Rule 5110(e)(1).</td> <td style="padding-left: 0pt; white-space: nowrap; vertical-align: top; text-indent: 0pt"> </td> <td style="padding-left: 0pt; vertical-align: top; text-indent: 0pt">ARC Group Securities IB Capital LLC </td> <td style="padding-left: 0pt; text-indent: 0pt"> </td> <td style="text-align: justify; padding-left: 0pt; vertical-align: top; text-indent: 0pt">Subject to FINRA rules, the securities are not transferable or saleable except to (i) the representative or any underwriter or selected dealer in connection with this offering, (ii) a bona fide officer, partner, registered person or affiliate of the representative or of any such underwriter or selected dealer or (iii) the issuer in a transaction exempt from registration with the SEC.</td></tr> </table> The completion of our initial business combination. MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas Transfers permitted (a) to our officers, directors, advisors or consultants, any affiliate or family member of any of our officers, directors, advisors or consultants, any members or partners of the sponsor or their respective affiliates and funds and accounts advised by such members or partners, any affiliates of the sponsor, or any employees of such affiliates, (b) in the case of an individual, as a gift to such person’s immediate family or to a trust, the beneficiary of which is a member of such person’s immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement, in connection with an extension of the completion window or in connection with the consummation of a business combination at prices no greater than the price at which the shares or warrants were originally purchased; (f) pro rata distributions from our sponsor to its respective members, partners or shareholders pursuant to our sponsor’s limited liability company agreement or other charter documents; (g) by virtue of the laws of the State of Delaware or our sponsor’s limited liability company agreement upon dissolution of our sponsor, (h) in the event of our liquidation prior to our consummation of our initial business combination; (i) in the event that, subsequent to our consummation of an initial business combination, we complete a liquidation, merger, share exchange or other similar transaction which results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property or (j) to a nominee or custodian of a person or entity to whom a transfer would be permissible under clauses (a) through (g); provided, however, that in the case of clauses (a) through (g) and clause (j) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreements (a transfer permitted by clauses (a) through (j) of this sentence is referred to as a “Permitted Transfer”). Locked up until the closing of the initial business combination MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas The securities are not transferable or saleable except in each case (a) to the subscriber’s officers or directors, any affiliates or family members of any of the Subscriber’s officers or directors, any members of the sponsor, or any affiliates of the sponsor, (b) in the case of an individual, by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by virtue of the laws of the State of New York or Subscriber’s partnership agreement in the event of a subscriber’s liquidation; (f) in the event of the Company’s liquidation prior to the consummation of a Business Combination; provided, however, that in the case of clauses (a) through (f) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and by the same agreements entered into by the sponsor and the Subscriber with respect to such securities. The completion of the initial business combination MFH 2, LLC Datuk Dr. Doris Wong Sing Ee Ian Hanna Kiu Cu Seng Dr. Satis Waran Nair Krishnan Inigo Angel Laurduraj Soon Ping (“Zara”) Pappas The lock-up period is pursuant to the underwriting agreement and can be waived with the prior written consent of ARC Group Securities. See “Underwriting (Conflicts of Interest) — Lock-up.” Our sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and private units pursuant to the letter agreement described in the immediately preceding paragraphs. Locked up until the completion of the initial business combination. ARC Group Securities IB Capital LLC Subject to FINRA rules, ARC Group Securities may transfer the representative shares in a Permitted Transfer. Up to 675,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment option is exercised. In addition, in order to facilitate our initial business combination or for any other reason determined by our sponsor in its sole discretion, our sponsor may surrender or forfeit, transfer or exchange our founder shares, private units or any of our other securities, including for no consideration, as well as subject any such securities to earn-outs or other restrictions, or otherwise amend the terms of any such securities or enter into any other arrangements with respect to any such securities. We may also issue Class A ordinary shares upon conversion of the Class B ordinary shares at a ratio greater than one-to-one at the time of our initial business combination as a result of the anti-dilution provisions as set forth herein. 10,500,000one Class A ordinary share; andone redeemable warrant; and Nasdaq rules provide that at least <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyLCBTUEFDIFJlZ2lzdGVyZWQgT2ZmZXJpbmdzAA__" id="xdx_903_espac--SpacTrustOrEscrowAccountGrossOfferingProceedsPlacedPercent_dp_uPure_c20260408__20260408_zVh94KsePcKd">90% of the gross proceeds from this offering and the sale of the private units be deposited in a trust account. Of the net proceeds we will receive from this offering and the sale of the private units described in this prospectus, $105,000,000 or $120,750,000 if the underwriters’ over-allotment option is exercised in full ($10.00 per unit in either case), will be deposited into a segregated U.S. based trust account with Efficiency, INC. acting as trustee, and initially be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any time (based on our management team’s ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank.Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if any, the proceeds from this offering and the sale of the private units will not be released from the trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption of our public shares if we are unable to complete our initial business combination within the completion window, subject to applicable law, or (iii) the redemption of our public shares properly submitted in connection with a shareholder vote to amend our amended and restated memorandum and articles of association to (A) modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity. The proceeds deposited in the trust account could become subject to the claims of our creditors, if any, which could have priority over the claims of our public shareholders. 0.90 Our Executive Director and Chief Operating Officer, Ian Hanna, is the Chief Executive Officer of ARC Group Securities, the representative of the underwriters in this offering. As a result, ARC Group Securities is deemed to have a “conflict of interest” within the meaning of FINRA Rule 5121. Accordingly, this offering is being made in compliance with the applicable requirements of Rule 5121. ARC Group Securities will not confirm sales to any account over which it exercises discretionary authority without the specific prior written approval of the account holder. In addition, Rule 5121 requires that a “qualified independent underwriter,” as defined in Rule 5121, participate in the preparation of the registration statement and prospectus and exercise the usual standards of due diligence with respect thereto. IB Capital LLC (“IB Capital”) has agreed to act as a qualified independent underwriter for this offering. We have agreed to indemnify IB Capital against certain liabilities incurred in connection with acting as a qualified independent underwriter, including liabilities under the Securities Act. IB Capital will receive a fee of 100,000 representative shares upon the completion of this offering for acting as qualified independent underwriter.Conflicts may arise from ARC Group Securities’ affiliation with us, it or its affiliates’ provision of services both to us, other SPACs and to third-party clients, as well as from actions undertaken by ARC Group Securities for its own account. ARC Group Securities is often engaged as a financial advisor, or placement agent, to corporations and other entities and their directors and managers in connection with the sale of those entities, their assets or their subsidiaries. Alternatively, ARC Group Securities, or another affiliate of our sponsor, may be a financial advisor to a target business that we pursue a business combination with and ARC Group Securities, or another affiliate of our sponsor, may receive fees from the target business in connection with a business combination. ARC Group Securities also represents potential buyer’s businesses and may be incentivized or obligated to direct an opportunity to one of these buyers in lieu of us, thereby eliminating or reducing the investment opportunities available to us.In addition, in the ordinary course of its business activities, ARC Group Securities and its respective affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers, in each case via walled-off entities. Such trades have in the past and may in the future include the securities of SPACs or similar blank check vehicles (including our securities). Such investments and securities activities may involve securities and/or instruments of ours or our affiliates. ARC Group Securities and its respective affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire long and/or short positions in such securities and instruments, in each case to include the securities of SPACs or similar blank check vehicles (including our securities).Each of our officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. In particular, our Chief Operating Officer and Executive Officer, Ian Hanna, is an officer and director of ARC Group Securities Acquisition I and ARC Group Securities Acquisition II, each a blank check company incorporated in the Cayman Islands formed for the purpose of effecting its own business combination that has not yet completed its initial public offering. Ian Hanna owes fiduciary duties under Cayman Islands law to ARC Group Securities Acquisition I and ARC Group Securities Acquisition II. Accordingly, if Ian Hanna becomes aware of a business combination opportunity which is suitable for an entity to which he has then current fiduciary or contractual obligations, including ARC Group Securities Acquisition I and ARC Group Securities Acquisition II, he will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such other entity, subject to their fiduciary duties under Cayman Islands law. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such other entity, subject to their fiduciary duties under BVI law. Our amended and restated memorandum and articles of association provide that, to the fullest extent permitted by law: (i) no individual serving as a director or an officer, among other persons, shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us, and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which (a) may be a corporate opportunity for any director or officer, on the one hand, and us, on the other or (b) the presentation of which would breach an existing legal obligation of a director or officer to any other entity. As a result, the fiduciary duties or contractual obligations of our officers or directors could materially affect our ability to complete our initial business combination.Our sponsor, officers or directors may sponsor or form other special purpose acquisition companies similar to ours or may pursue other business or investment ventures during the period in which we are seeking an initial business combination. As a result, our sponsor, officers and directors could have conflicts of interest in determining whether to present business combination opportunities to us or to any other special purpose acquisition company with which they may become involved. Any such companies, businesses or investments may present additional conflicts of interest in pursuing an initial business combination target, which could materially affect our ability to complete our initial business combination. However, because we expect that our company will generally have priority over any other special purpose acquisition companies subsequently formed by our sponsor, officers or directors with respect to acquisition opportunities until we complete our initial business combination or enter into a contractual agreement that would restrict our ability to engage in material discussions regarding a potential initial business combination, we do not believe that any such potential conflicts would materially affect our ability to complete our initial business combination.Our executive officers and our directors may have interests that differ from you in connection with the business combination, including the fact that they may lose their entire investment in us if our initial business combination is not completed, except to the extent they receive liquidating distributions from assets outside the trust account, and accordingly, may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. Another conflict would arise if one or more of our officers or directors is offered a position as an officer or director of the surviving corporation in a prospective business combination, or if the resignation or of one or more of them is a condition to the consummation of a prospective business combination.ARC Group Limited and its respective affiliates may hold long and/or short positions in such securities and instruments, in each case to include the securities of SPACs or similar blank check vehicles (including our securities). Additionally, there are no contractual agreements between us, ARC Group Limited, our sponsor or any affiliates of our initial shareholders regarding allocation of opportunities between us and clients or affiliates of ARC Group Limited. 12321429 1607143 25000 0.00483 0.90 5000000 The difference between the public offering price per unit and the net tangible book value (NTBV) per Class A ordinary share 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. 5.81 5.11 2.89 4.12 3.88 2.63 5.37 0.14 7.86 5.80 5.10 2.90 4.11 3.89 2.63 5.37 0.15 7.85 For each of the redemption scenarios above, the NTBV was calculated as follows: <table cellpadding="0" cellspacing="0" id="xdx_309_zILI0bNRkES4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - S-K 1602(c) Dilution"> <tr style="display: none; vertical-align: bottom"> <td style="padding-left: 0pt; text-indent: 0pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231__20251231__spac--SecurityClassAxis__custom--NoOverAllotmentMember__spac--RedemptionLevelAxis__spac--NoRedemptionMember_zCBZHdZSC9ze" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231__20251231__spac--SecurityClassAxis__custom--FullOverAllotmentMember__spac--RedemptionLevelAxis__spac--NoRedemptionMember_zIHDwHLGdla" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231__20251231__spac--SecurityClassAxis__custom--NoOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember_zxhFgHnHNhh4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231__20251231__spac--SecurityClassAxis__custom--FullOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt25PercentOfMaximumMember_zCNrnmhniE5e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231__20251231__spac--SecurityClassAxis__custom--NoOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember_z1TOdm6B2he1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__20251231__spac--SecurityClassAxis__custom--FullOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt50PercentOfMaximumMember_zHOllwW6d1O7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231__20251231__spac--SecurityClassAxis__custom--NoOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember_z6daGCTivSm2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231__20251231__spac--SecurityClassAxis__custom--FullOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt75PercentOfMaximumMember_z2WQXmrjptQb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__20251231__spac--SecurityClassAxis__custom--NoOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember_z1jXKOIkP5J4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231__20251231__spac--SecurityClassAxis__custom--FullOverAllotmentMember__spac--RedemptionLevelAxis__spac--RedemptionAt100PercentOfMaximumMember_zRemiZYPVjgi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt; text-indent: 0pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="38" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt; text-indent: 0pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">0% Redemption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">25% of Maximum Redemption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">50% of Maximum Redemption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">75% of Maximum Redemption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">100% of Maximum Redemption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0pt; text-indent: 0pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Full Over- allotment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Public offering price</td><td style="width: 2%"></td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGMpIERpbHV0aW9uAA__" id="xdx_409_espac--NetTangibleBookValuePreTransactionPerShare_pid_zz7nJDInuOXh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Net tangible book value deficit before this offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.08</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Increase attributable to public shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.89</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.18</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.22</td><td style="text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGMpIERpbHV0aW9uAA__" id="xdx_402_espac--NetTangibleBookValueAdjustedPerShare_pid_zymy6H8xf06f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Pro forma net tangible book value after this offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.81</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.14</td><td style="text-align: left"> </td></tr> <tr class="xdx_phnt_RGlzY2xvc3VyZSAtIFMtSyAxNjAyKGMpIERpbHV0aW9uAA__" id="xdx_40D_espac--NetTangibleBookValueAmountOfDilutionPerShare_pid_zg4bISMhnh3h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Dilution to public shareholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2.20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.89</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.89</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.85</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt">% Dilution to public shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36.3</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98.1</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98.3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt">Net tangible book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-indent: 0pt; padding-left: 0pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_espac--NetTangibleBookValue_zpHPhSNJdYne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Net tangible book value deficit before this offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(416,951</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_espac--NetTangibleBookValueAdjusted_hspac--DilutionSourceAxis__custom--NetProceedsFromThisOfferingAndTheSaleOfPrivateUnitsMember_zKzjl0qtzEwd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Net proceeds from this offering and the sale of private units(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,050,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,050,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,050,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,050,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,300,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,050,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_espac--NetTangibleBookValueAdjusted_hspac--DilutionSourceAxis__custom--OfferingCostsAccruedForAndPaidInAdvanceExcludedFromTangibleBookValueMember_zIMs2G8v5tDc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Plus: Offering costs accrued for and paid in advance, excluded from tangible book value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">372,551</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_espac--NetTangibleBookValueAdjusted_hspac--DilutionSourceAxis__custom--OverallotmentLiabilityMember_ztG7ldmcHul1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Less: Overallotment liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116,078</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116,078</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116,078</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116,078</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116,078</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_espac--NetTangibleBookValueAdjusted_hspac--DilutionSourceAxis__custom--RedemptionsMember_zFRl5OjApquk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: Redemptions(2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(26,250,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(30,187,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(52,500,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60,375,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(78,750,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(90,562,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(120,750,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_espac--NetTangibleBookValueAdjusted_zNJ0sVUAtQkd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">106,139,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">122,005,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">79,889,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">91,818,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">53,693,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">61,630,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">27,389,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">31,443,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,139,523</td><td style="padding-bottom: 2.5pt; text-align: left"></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,255,600</td><td style="padding-bottom: 2.5pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-indent: 0pt; padding-left: 0pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--OrdinarySharesOutstandingPriorToThisOfferingMember_zBSioVUIWZ66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Ordinary shares outstanding prior to this offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--OrdinarySharesForfeitedIfOverAllotmentIsNotExercisedMember_zH8o92nFtUA4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Ordinary shares forfeited if over-allotment is not exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(675,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(675,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(675,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(675,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(675,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--OrdinarySharesOfferedMember_zrBu4AbIHTN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Ordinary shares offered</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,075,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,075,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,075,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,075,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,075,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--RepresentativeSharesMember_zoIEsgrfMVLh" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt">Representative shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">483,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">483,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">483,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">483,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">483,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--PrivateSharesMember_zwXpveBBDXq8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Private shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">200,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_espac--NumberOfSharesUsedAdjustment_hspac--DilutionSourceAxis__custom--OrdinarySharesRedeemedMember_zvKZlyeE40Af" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: Ordinary shares redeemed</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,625,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,018,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,250,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,037,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,875,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9,056,250</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10,500,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12,075,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_espac--NumberOfSharesUsedAdjustment_zyrsBcAErFEb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">18,295,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">21,001,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">15,670,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">17,983,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">13,045,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">14,964,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,420,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,945,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,795,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">8,926,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expenses applied against gross proceeds include offering expenses of approximately $700,000. See “Use of Proceeds.”</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, initial shareholders, directors, executive officers or their respective affiliates may purchase shares, public rights or public warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. In the event of any such purchases of our shares prior to the completion of our initial business combination, the number of ordinary shares subject to redemption will be reduced by the amount of any such purchases, increasing the pro forma net tangible book value per share. See “Proposed Business — Effecting Our Initial Business Combination — Permitted Purchases of Our Securities.”</td></tr> </table> -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 -0.08 5.80 5.81 5.10 5.11 4.11 4.12 2.63 2.63 0.15 0.14 2.20 2.19 2.90 2.89 3.89 3.88 5.37 5.37 7.85 7.86 -416951 -416951 -416951 -416951 -416951 -416951 -416951 -416951 -416951 -416951 106300000 122050000 106300000 122050000 106300000 122050000 106300000 122050000 106300000 122050000 372551 372551 372551 372551 372551 372551 372551 372551 372551 372551 -116078 -116078 -116078 -116078 -116078 -26250000 -30187500 -52500000 -60375000 -78750000 -90562500 -105000000 -120750000 106139523 122005600 79889523 91818100 53693523 61630600 27389523 31443400 1139523 1255600 5175000 5175000 5175000 5175000 5175000 5175000 5175000 5175000 5175000 5175000 -675000 -675000 -675000 -675000 -675000 10500000 12075000 10500000 12075000 10500000 12075000 10500000 12075000 10500000 12075000 420000 483000 420000 483000 420000 483000 420000 483000 420000 483000 200000 200000 200000 200000 200000 200000 200000 200000 200000 200000 -2625000 -3018750 -5250000 -6037500 -7875000 -9056250 -10500000 -12075000 18295000 21001750 15670000 17983000 13045000 14964250 10420000 11945500 7795000 8926750 Moreover, we may need to obtain additional financing to complete our initial business combination, either because the transaction requires more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur debt in connection with such business combination. If we raise additional funds through equity or convertible debt issuances, our public shareholders may suffer significant dilution and these securities could have rights that rank senior to our public shares. If we raise additional funds through the incurrence of indebtedness, such indebtedness will have rights that are senior to our equity securities and could contain covenants that restrict our operations. Further, as described above, due to the anti-dilution rights of our founder shares, our public shareholders may incur material dilution. In addition, we intend to target businesses with enterprise values that are greater than we could acquire with the net proceeds of this offering and the sale of the private units, and, as a result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to satisfy any redemptions by our public shareholders, we may be required to seek additional financing to complete such proposed initial business combination. We may also obtain financing prior to the closing of our initial business combination to fund our working capital needs and transaction costs in connection with our search for and completion of our initial business combination. There is no limitation on our ability to raise funds through the issuance of equity or equity-linked securities or through loans, advances or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or backstop agreements we may enter into following consummation of this offering. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously with the completion of our initial business combination. If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced to liquidate the trust account. In addition, following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations. Redemption Rights for Public Shareholders upon Completion of Our Initial Business Combination We will provide our public shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares, regardless of whether they abstain, vote for, or vote against, our initial business combination, upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of the initial business combination, including interest earned on the funds held in the trust account (less taxes payable), divided by the number of then outstanding public shares, subject to the limitations and on the conditions described herein. The amount in the trust account is initially anticipated to be $10.00 per public share. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares, private shares and any public shares they may hold in connection with the completion of our initial business combination. In addition, the representative of the underwriters pursuant to the underwriting agreement has agreed to waive its redemption rights with respect to its representative shares in connection with the completion of our initial business combination or otherwise. The non-managing sponsor members are not required to (i) hold any units, Class A ordinary shares, public rights or public warrants they may purchase in this offering or thereafter for any amount of time, (ii) vote any Class A ordinary shares they may own at the applicable time in favor of our initial business combination or (iii) refrain from exercising their right to redeem their public shares at the time of our initial business combination. The non-managing sponsor members will have the same rights to the funds held in the trust account with respect to the Class A ordinary shares underlying the units they may purchase in this offering as the rights afforded to our other public shareholders. In addition, the representative of the underwriters pursuant to the underwriting agreement has agreed to waive its redemption rights with respect to its representative shares in connection with the completion of our initial business combination. Our proposed initial business combination may impose a minimum cash requirement for (i) cash consideration to be paid to the target or its owners, (ii) cash for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions. In the event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate amount of cash available to us, we will not complete the initial business combination or redeem any shares, and all Class A ordinary shares submitted for redemption will be returned to the holders thereof. We may, however, raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following consummation of this offering, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements. Manner of Conducting Redemptions We will provide our public shareholders with the opportunity to redeem all or a portion of their Class A ordinary shares upon the completion of our initial business combination either (i) in connection with a general meeting called to approve the business combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether we will seek shareholder approval of a proposed business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek shareholder approval under applicable law or stock exchange listing requirement or whether we were deemed to be a foreign private issuer (which would require a tender offer rather than seeking shareholder approval under SEC rules), as described above under the heading “Shareholders May Not Have the Ability to Approve Our Initial Business Combination.” Asset acquisitions and share purchases would not typically require shareholder approval while direct mergers with our company (other than with a 90% subsidiary of ours) and any transactions where we issue more than 20% of our issued and outstanding ordinary shares or seek to amend our amended and restated memorandum and articles of association would require shareholder approval. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with Nasdaq’s shareholder approval rules. The requirement that we provide our public shareholders with the opportunity to redeem their public shares by one of the two methods listed above are contained in provisions of our amended and restated memorandum and articles of association and will apply whether or not we maintain our registration under the Exchange Act or our listing on Nasdaq. Such provisions may be amended if approved by an ordinary resolution, which requires the affirmative vote of in excess of 50 percent of the votes of the holders of the ordinary Shares as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the company of which notice has been duly given, or a resolution approved in writing by in excess of 50% of the holders of the issued shares entitled to vote on such matter, but if any such resolution is adopted otherwise than by the unanimous written consent of all shareholders, a copy of such resolution shall as soon as reasonably practicable be sent to all shareholders not consenting to such resolution. The amended and restated memorandum and articles of association of the Company will require that resolutions put to the vote of a meeting may be decided on a poll and regard shall be had to the number of votes to which each member is entitled to cast when computing whether the requisite approval threshold has been obtained to pass an ordinary resolution, so long as we offer redemption in connection with such amendment. Datuk Dr. Doris Wong Sing Ee has served as our Chief Executive Officer and Executive Director since November 19, 2025 and she is also the chief executive officer and executive director of Bio Green Med Solution, Inc. (Nasdaq: BGMS; formerly Cyclacel Pharmaceuticals, Inc.), a diversified company engaged in both the fire protection and biopharmaceutical industries, since February 26, 2025. Datuk Dr. Wong is a seasoned leader with more than 20 years of management experience across various industries ranging from oil and gas, property development, solar, engineering, advertising, food and beverage, raw materials and more. She specializes in business development, strategic consultancy and corporate advisory in mergers and acquisition and joint venture across Malaysia, Singapore, China, Japan, Thailand and Indonesia. Since October 2020, Datuk Dr. Wong has served as Executive Director of Metronic Global Bhd, an investment holding company, where she has been optimizing financial operations, establishing business goals, advising the board of directors on organizational activities and executing special business projects. She has also been involved in various investment opportunities in business diversification, generating new revenue and increasing shareholders’ wealth. Since February 2017, Datuk Dr. Doris Wong Sing Ee has been a non-independent non-executive director at Trive Property Group Bhd (0118.KL). Datuk Dr. Wong served as an independent director and member of the audit committee and the compensation committee of Energem Corp from its initial public offering on November 16, 2021 until her appointment as Executive Director on January 27, 2023. Following Energem Corp’s completion of a series of transactions that resulted in its business combination with Graphjet Technology Sdn. Bhd., a Malaysian private limited company (“Graphjet”) on March 14, 2024, Datuk Dr. Wong served as a director of Graphjet until January 6, 2025. Datuk Dr. Wong served as the Executive Director of BSL Corporation Berhad (KLSE: BSLCORP) from May 2024 to August 2025, a public listed company with its business segments constituting stamping and manufacturing of precision metal parts and fabrication of tools and dies, printed circuit boards (PCB) assembly of all types of electronics and electrical components, devices and systems, fabrication and forging of base metal components for consumer products. Previously, from January 2019 to September 2020, Datuk Dr. Doris Wong Sing Ee served as Chief Corporate Officer in Metronic Engineering Sdn. Bhd. (0043.KL) where she oversaw HR operations, set objectives for the HR team and helped shape the brand strategy of the company. Datuk Dr. Wong served as General Manager from 2015 to 2016 in Dai-Ichi Kikaku Sdn. Bhd. where she was overseeing and handling business development, client strategy and direction, creative, production, media planning, procurement and research. From 2012 to 2015, she served as Strategic Business Consultant for JLPW Law Firm where she handled mergers and acquisitions and joint venture deals internationally for various industries. From 2002 to 2012, Datuk Dr. Wong started her career as a Managing Director at Niagamatic Sdn. Bhd., where she controlled all business operations to give strategic guidance and directions to the board and staff to ensure the company achieved its financial vison, mission and long-term goals. We believe Datuk Dr. Wong is qualified to serve on our board of directors due to her extensive and varied deal experience throughout his career, including her prior special purpose acquisition company experience. Datuk Dr. Wong holds a Doctor of Business Administration majoring in Environmental Social & Governance in 2025, and a Master of Corporate Governance in 2016, both from HELP University, Malaysia. She earned her Bachelor’s degree in Creative Multimedia, majoring in Media Innovation in 2003 from Multimedia University, Malaysia. Ian Hanna has served as our Chief Operating Officer and Executive Director since November 19, 2025. Mr. Hanna is an accomplished investment banker and business leader with extensive experience in mergers and acquisitions, strategic partnerships, and capital raising. His career spans leadership roles in high-growth companies, start-ups, and global corporations, with a proven track record of guiding organizations through complex transactions and transformative growth. Most recently, Mr. Hanna has focused on leveraging his technical expertise and global network to deliver tailored investment banking solutions, enabling clients to access the capital and partnerships needed to fuel their growth. Since August 2024, Mr. Hanna has served as Chief Executive Officer of ARC Group Securities, a FINRA-registered broker-dealer that specializes in providing comprehensive capital markets and investment banking services to emerging growth and mid-market companies globally, with a focus on bridging Asia and western markets. Since November 2021, Mr. Hanna has worked with ARC Group Limited, first as a Managing Director and since March 2025 as a partner. Prior to that, from February 2021 to November 2021, Mr. Hanna served as Chief Executive Officer of Giga Carbon Neutrality, which is focused on carbon neutral energy solutions with a full ecosystem of products to support their deployment and usage. Mr. Hanna began his career in the automotive industry, spending 15 years at General Motors, from March 2006 to February 2021, with assignments in the United States, South Korea, and China. During this time, he was instrumental in developing battery electric vehicle technologies from design to manufacturing and holds 10 patents and four defensive publications. He later served as Chief Executive Officer at Giga Carbon Neutrality, where he led a global team in delivering zero-emission transportation solutions, forging key technology partnerships, securing commercial contracts, and raising capital. Mr. Hanna holds both a Master of Science in Automotive/Manufacturing Engineering (2011) and a Bachelor of Science in Manufacturing Engineering from the University of Michigan (2006). We believe Mr. Hanna is qualified to serve on our board of directors due to his extensive industry and transactional experience including his significant special purpose acquisition company experience. Kiu Cu Seng has served as our Chief Financial Officer since November 19, 2025. He is also the Chief Financial Officer and Executive Director of Bio Green Med Solution, Inc. (Nasdaq: BGMS; formerly Cyclacel Pharmaceuticals, Inc.), a diversified company engaged in both the fire protection and biopharmaceutical industries, a position he has held since February 26, 2025. Mr. Kiu brings extensive accounting and audit experience involving publicly listed companies, supported by his strong background in financial reporting and compliance. Prior to his current roles, Mr. Kiu served as Energem Corp’s Chief Financial Officer from August 12, 2021 through its completion of a series of transactions that resulted in its business combination with Graphjet on March 14, 2024. Since March 2021, Mr. Kiu has served as Group Accountant for Sanichi Technology Bhd and he took on the role of Group Accountant at Computer Forms (Malaysia) Berhad from September 2022. In these capacities, he oversees the preparation of consolidation financial statements, ensures compliance with relevant accounting standards, and supports group-wide financial reporting, analysis and governance. Mr. Kiu served as Group Accountant for Trive Property Group Berhad and BCM Alliance Berhad from March 2021 to September 2025. From June 2019 to February 2021, Mr. Kiu held managerial roles at SBY & Partners PLT (formerly known as Siew Boon Yeong & Associates), a well-established professional accounting organization providing a comprehensive range of services ranging from audit and assurance, taxation and accounting where he specialized in auditing matters. Mr. Kiu graduated from Infrastructure University Kuala Lumpur in 2013 with a bachelor’s degree (with Honors) in Accounting and from Kuala Lumpur Infrastructure University College with a Diploma in Accounting in 2009. We believe Mr. Kiu is qualified to serve as the Chief Financial Officer due to his extensive accounting and financial experience throughout his career, including his prior special purpose acquisition company experience. Our Independent Director Nominees Dr. Satis Waran Nair Krishnan, who has agreed to serve as a member of our Board of Directors and as a member of the Audit Committee and Compensation Committee following the completion of this offering, also serves as a director of Bio Green Med Solution, Inc. (Nasdaq: BGMS) since April 2025, where he sits on the audit committee, compensation and organization committee, and nominating and governance committee. Dr. Krishnan is a General Practitioner with Centric Health in Drogheda, County Louth, Ireland since September 2023. Prior to that, from October 2010 through August 2023, Dr. Krishnan served as a Medical Officer for the Ministry of Health Malaysia. He has extensive experience in public healthcare and primary care, having served in various clinical and leadership roles for more than a decade prior to his current role. He is also currently working closely with the Irish College of General Practitioners (ICGP) as part of ongoing professional development and training initiatives. He completed advanced training in primary care dermatology through programs offered by the Association of Family Physicians of Malaysia (AFPM) and the Institute of Dermatology in Bangkok, Thailand. Inigo Angel Laurduraj, who has agreed to serve as a member of our board of directors and chair of the audit committee and member of the compensation committee following the completion of this offering, also serves as a director of Bio Green Med Solution, Inc. (Nasdaq: BGMS) since April 2025 and chair of its audit committee, and member of its compensation and organization committee, and its nominating and the governance committee. Ms. Laurduraj brings extensive audit and accounting services to the Company over her 20 years in that industry. Ms. Laurduraj served as a Senior Accounting Manager at IOI Oleochemicals Sdn. Bhd., an edible oil refining and oleochemicals company for 11 years from 2007 through 2018. Prior to that, she served from 2005 through 2007 as an Auditor for Moore Stephens (now Moore Global), a global firm operating in 114 countries specializing in accounting and finance services, audit and assurance, fund services, private client services, corporate services, and tax services. Ms. Laurduraj earned an Association of Chartered Certified Accountants (ACCA) in 2015 and a Bachelors of Arts in Accounting in 2014. We believe Ms. Laurduraj’s accounting and audit experience qualifies her to serve on our board of directors. Soon Ping (“Zara”) Pappas, who has agreed to serve as a member of our board of directors and chair of the Compensation Committee and Member of the Audit Committee following the completion of this offering, also serves as a director of Bio Green Med Solution, Inc. (Nasdaq: BGMS) since September 2025 and chair of its compensation and organization committee and member of its audit committee and the governance committee. Ms. Pappas brings more than 10 years of business and management experience to her new role on the Board. As a licensed and registered Occupational Therapy Assistant in the State of New York, Ms. Pappas has worked as an occupational therapy practitioner on Long Island, New York since 2023. Prior to that Ms. Pappas worked as an International Marketing Coordinator where she assisted in the planning, execution, and monitoring of international marketing campaigns across digital, print, and social media channels and worked with public relations, events, and operations teams to align international marketing with guest experiences. Ms. Pappas earned an Associate’s Degree in Applied Science from Suffolk Community College (New York) in 2024 (Dean’s List) and a Certificate in Business Studies from Segi College, Kuala Lumpur, Malaysia in 2010. Ms. Pappas is fluent in English, Mandarin, Cantonese, and Bahasa Melayu. We believe Ms. Pappas’ business and management experience qualifies her to serve on our board of directors. Conflicts of Interest Under British Virgin Islands law, directors and officers owe the following fiduciary duties: duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">duty to not improperly fetter the exercise of future discretion;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">duty to exercise authority for the purpose for which it is conferred and a duty to exercise powers fairly as between different sections of shareholders;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">duty to exercise independent judgment.</td></tr> </table> In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge, skill and experience of that director. Below is a table summarizing the entities to which our executive officers and directors currently have fiduciary duties or contractual obligations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 13%">Individual</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 27%; text-align: center">Entity</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 27%; text-align: center">Entity’s Business</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 27%; text-align: center">Affiliation</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Datuk Dr. Doris Wong Sing Ee</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Bio Green Med Solution, Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Fire Safety Systems</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer and Executive Director</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Metronic Global Bhd</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Engineering</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Executive Director</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Trive Property Group Bhd</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Property Investment & Energy</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Director</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Ian Hanna</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">ARC Group Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Investment Banking</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Partner</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">ARC Group Securities</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Broker/Dealer</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">ARC Group Securities Acquisition I</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Special Purpose Acquisition Company</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">ARC Group Securities Acquisition II</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Special Purpose Acquisition Company</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 13%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 27%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 27%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 27%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Kiu Cu Seng</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Bio Green Med Solution, Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Fire Safety Systems</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Computer Forms (Malaysia) Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Manufacturing</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Group Accountant</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Sanichi Technology Bhd. </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Manufacturing & Property Development</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Group Accountant</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Dr. Satis Waran Nair Krishnan </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Bio Green Med Solution, Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Fire Safety Systems</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Director</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Centric Health in Drogheda</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Medical Practice</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Doctor</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Soon Ping (“Zara”) Pappas</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Bio Green Med Solution, Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Fire Safety Systems</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Director</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Self-Employed</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Healthcare</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Occupational Therapy Practitioner</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Inigo Angel Laurduraj</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Bio Green Med Solution, Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Fire Safety Systems</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Director</td></tr> </table> Potential investors should also be aware of the following other potential conflicts of interest: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Our officers and directors are not required to, and will not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between our operations and our search for a business combination and their other businesses. We do not intend to have any full-time employees prior to the completion of our initial business combination. Each of our officers is engaged in several other business endeavors for which he may be entitled to substantial compensation, and our officers are not obligated to contribute any specific number of hours per week to our affairs.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">In the course of their other business activities, our officers and directors may become aware of investment and business opportunities which may be appropriate for presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts of interest in determining to which entity a particular business opportunity should be presented. Please see the table directly above for a description of our management’s other affiliations.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Our initial shareholders purchased founder shares prior to the date of this prospectus and will purchase private units in a transaction that will close simultaneously with the closing of this offering. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares, private shares, public rights and public shares in connection with the completion of our initial business combination. Additionally, our sponsor, officers and directors have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares and the private shares if we fail to complete our initial business combination within the prescribed time frame, although they will be entitled to liquidating distributions from assets outside the trust account. If we do not complete our initial business combination within the prescribed time frame, the private units will expire worthless. Furthermore, our sponsor, officers and directors have agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable upon conversion thereof until the completion of our initial business combination. Because each of our officers and director nominees will own ordinary shares or warrants directly or indirectly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. In addition, the representative of the underwriters pursuant to the underwriting agreement has agreed to waive its redemption rights with respect to its representative shares in connection with the completion of our initial business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Our sponsor and members of our management team will directly or indirectly own our securities following this offering, and accordingly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination. Upon the closing of this offering, our sponsor will have invested in us an aggregate of $2,025,000, comprised of the $25,000 purchase price for the founder shares (or approximately $0.00483 per share) and the $2,000,000 purchase price for the private units (or $10.00 per unit), which may be exercised on a cashless basis. Accordingly, our management team, which owns interests in our sponsor, may be more willing to pursue a business combination with a riskier or less-established target business than would be the case if our sponsor had paid the same per share price for the founder shares as our public shareholders paid for their public shares and if our sponsor were required to pay cash to exercise the private warrants.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Certain members of our management team may receive compensation upon consummation of our initial business combination, and accordingly, they may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination as such compensation will not be received unless we consummate such business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Our officers and directors may have a conflict of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors was included by a target business as a condition to any agreement with respect to our initial business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">In the event our sponsor or members of our management team provide loans to us to finance transaction costs and/or incur expenses on our behalf in connection with an initial business combination, such persons may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination as such loans may not be repaid and/or such expenses may not be reimbursed unless we consummate such business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Similarly, if we agree to pay our sponsor or a member of our management team a finder’s fee, advisory fee, consulting fee or success fee in order to effectuate the completion of our initial business combination, such persons may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination as any such fee may not be paid unless we consummate such business combination.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors, or completing the business combination through a joint venture or other form of shared ownership with our sponsor, officers or directors; accordingly, such affiliated person(s) may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate our initial business combination as such affiliated person(s) would have interests different from our public shareholders and would likely not receive any financial benefit unless we consummated such business combination.</td></tr> </table> Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The purchase price of the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 12,075,000 units if the underwriters’ over-allotment option is exercised in full and, therefore, such founder shares would represent 28.8% of the outstanding shares after this offering (not including the Class A ordinary shares that are included within the private units). Up to 675,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment is exercised. The post-offering percentages in the following table assume that the underwriters do not exercise their over-allotment option, that 675,000 founder shares have been surrendered to us for no consideration, and that there are 15,620,000 ordinary shares issued and outstanding after this offering. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Approximate Percentage of Outstanding Class A Ordinary Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Approximate Percentage of Outstanding Class B Ordinary Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Name and Address of Beneficial Owner(1)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Class A Ordinary Shares Beneficially Owned</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Before Offering</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">After Offering</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Class B Ordinary Shares Beneficially Owned(2)(3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Before Offering</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">After Offering</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left">Directors, Director Nominees, and Executive Officers:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Datuk Dr. Doris Wong Sing Ee(3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">*</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">4,470,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">99.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">28.7</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Ian Hanna(4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Kiu Cu Seng</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dr. Satis Waran Nair Krishnan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Inigo Angel Laurduraj</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Soon Ping (“Zara”) Pappas</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">All officers and directors as a group (6 persons)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">5% Holders:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>MFH 2, LLC(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Arc Group International Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">414,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Less than one percent.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unless otherwise noted, the business address of each of the following is c/o ARC Group Acquisition I Corp, 398 S. Mill Avenue, Suite 306, Tempe, AZ 85284.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Interests shown consist solely of 4,500,000 founder shares, classified as Class B ordinary shares (assuming the underwriters’ over-allotment is not exercised), and 200,000 private placement shares, which are classified as Class A ordinary shares. The founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or such earlier time at the option of the holder on a one-for-one basis, subject to adjustment, as described in the section entitled “Description of Securities.”</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">MFH 2, LLC is the record holder of the 5,175,000 founder shares reported herein before closing of the Offering, which includes up to 675,000 founder shares that will be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment option is exercised and 200,000 private placement shares reported herein after closing of the Offering. Datuk Dr. Wong is the manager of MFH 2, LLC and owner of approximately 92% of the equity of the sponsor; accordingly, Datuk Dr. Wong has the majority voting and investment discretion with respect to the ordinary shares held of record by MFH 2, LLC.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Interests shown do not include the 420,000 representative shares, assuming the underwriter’s over-allotment option is not exercised, which are classified as Class A ordinary shares. </td></tr> </table> Datuk Dr. Wong Assumes the full forfeiture of 675,000 founder shares and no exercise of the underwriters’ over-allotment option. ARC Group Securities LLC, the representative of the underwriters, beneficially owns 320,000 representative shares and Ian Hanna, the CEO of ARC Group Securities LLC and our Chief Operating Officer and Executive Director, is deemed a promoter of our company. Assumes the underwriters’ overallotment option is not exercised. Assumes the full forfeiture of 675,000 founder shares and no exercise of the underwriters’ over-allotment option ARC Group Securities, the representative of the underwriters, beneficially owns the representative shares and Ian Hanna, the CEO of ARC Group Securities and our executive director and COO, is deemed a promoter of our company. Assumes that the underwriter’s over-allotment option is not exercised. Expenses applied against gross proceeds include offering expenses of approximately $700,000. See “Use of Proceeds.” If we seek shareholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender offer rules, our sponsor, initial shareholders, directors, executive officers or their respective affiliates may purchase shares, public rights or public warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial business combination. In the event of any such purchases of our shares prior to the completion of our initial business combination, the number of ordinary shares subject to redemption will be reduced by the amount of any such purchases, increasing the pro forma net tangible book value per share. See “Proposed Business — Effecting Our Initial Business Combination — Permitted Purchases of Our Securities.”