Wen Acquisition Corp (NASDAQ: WENN) is a blank check special purpose acquisition company (SPAC) formed to identify and complete a merger or acquisition with a target business. The company does not generate operating revenue. Instead, it holds $300,150,000 raised from its initial public offering in a U.S.-based trust account, with proceeds to be deployed upon consummation of an initial Business Combination (per the 10-K for fiscal year ended December 31, 2025, filed March 26, 2026). The sponsor entity is Wen Sponsor LLC, a Delaware limited liability company, managed by Ryan Gilbert and Shami Patel through Wen Management Sponsor LLC. The company is incorporated in the Cayman Islands, structured as an emerging growth company, and has issued Class A and Class B Ordinary Shares. No target for the initial Business Combination has been identified in the filing excerpts provided.

Revenue model

No operating revenue. Capital is held in a U.S.-based trust account containing $300,150,000 from IPO proceeds (as of fiscal year ended December 31, 2025). Returns to investors are contingent on completing an initial Business Combination or, if none is completed, liquidating the trust.

Products and services

Blank check SPAC vehicle. Class A Ordinary Shares and warrants (including Private Placement Warrants) are the securities issued. Founder Shares (Class B Ordinary Shares) are held by the Sponsor and convert to Class A Ordinary Shares upon Business Combination completion.

Customers and end markets

Institutional and retail investors who purchased Class A Ordinary Shares in the IPO. No operating customers or end markets identified in the filing excerpts.

Value-chain role

SPAC sponsor and acquisition vehicle. Advisors Ryan Gilbert (General Partner, Launchpad Capital) and Shami Patel (Managing Director, Launchpad Capital) bring experience from prior SPAC transactions including FinTech Acquisition Corp. III ($345M IPO, combined with Paya Inc.) and FinTech Acquisition Corp. IV ($239M IPO, combined with PWP Holdings LP).

Geographic exposure

Incorporated in the Cayman Islands. Trust account is U.S.-based. No operating geographic footprint identified in the filing excerpts.

Source: SEC 10-K, filed 2026-03-26

Industry: Blank Checks