What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2026-03-06 compared with 2025-03-31 · 38 added, 25 removed, 20 unchanged (76% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.

Market for Registrant’s Common

Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities.

Our Public Units, Public Shares

and Public Warrants are each traded on the Global Market tier of Nasdaq under the symbols “ NTWOU”,

“NTWO” and “NTWOW” , respectively.

Our Public Units commenced public trading on November

1, 2024 , and our Public Shares and Public Warrants commenced separate public trading on December

On March 31, 2025, there were

three holders of record of our Units, two holders of record of our Class A Ordinary Shares and one holder of record of our Warrants.

and Public Warrants are each traded on the Global Market tier of Nasdaq under the symbols “NTWOU”, “NTWO” and

“NTWOW”, respectively.

Our Public Units commenced public trading on November 1, 2024, and our Public Shares and Public Warrants

commenced separate public trading on December 27, 2024.

On March 6, 2026, there

were three holders of record of our Units, two holders of record of our Class A Ordinary Shares, one holder of record of our Class B Ordinary

Shares, and one holder of record of our Warrants.

10 unchanged sentences

we may agree to in connection therewith.

Securities Authorized for Issuance Under Equity Compensation Plans

Performance Graph

(d) Securities

Authorized for Issuance Under Equity Compensation Plans

(e) Performance

As a smaller reporting company,

we are not required to provide the information required by Regulation S-K Item 201(e).

Recent Sales of Unregistered Securities

Simultaneously

with the closing of the Initial Public Offering and pursuant to the Private Placement Units Purchase Agreement ,

we completed the private placement of an aggregate of 648,375 Private Placement Units to the Sponsor and BTIG, the underwriter of the

Initial Public Offing, at $10.00 per Private Placement Unit.

Each Private Placement Unit consists of one Private Placement Share

and one-half of one Private Placement Warrant, with each whole Private Placement Warrant exercisable to purchase one Class A Ordinary

Of those 648,375 Private Placement Units, the Sponsor purchased 484,500 Private Placement Units and BTIG purchased $163,875 Private

Placement Units.

The Private Placement Warrants are identical to the Public Warrants, except as otherwise disclosed in the IPO Registration

No underwriting discounts or commissions were paid with respect to such sale.

The issuance of the Private Placement Units was

made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

Use of Proceeds from the Initial Public Offering

Sales of Unregistered Securities

There were no sales of unregistered

securities during the fiscal year covered by this Report.

However, simultaneously with the closing of the Initial Public Offering and

pursuant to the Private Placement Units Purchase Agreements, we completed the sale of an aggregate of 648,375 Private Placement Units

to the Sponsor and BTIG in the Private Placement at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to

us of $6,483,750.

Of those 648,375 Private Placement Units, the Sponsor purchased 484,500 Private Placement Units and BTIG purchased

163,875 Private Placement Units.

The Private Placement Units (and underlying securities) are identical to the Public Units (and underlying

securities), except as otherwise disclosed in the IPO Registration Statement.

No underwriting discounts or commissions were paid with

respect to such sale.

The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section

4(a)(2) of the Securities Act.

There were no offerings of

registered securities and therefore no planned use of proceeds from such offerings during the fiscal year covered by this Report.

a description of the use of proceeds generated in our Initial Public Offering and Private Placement, see Part II, Item 2 of our Quarterly

3 unchanged sentences

The specific investments in our Trust Account may change from time to tim e.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

were no such repurchases of our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.

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.

(h) Purchases

of Equity Securities by the Issuer and Affiliated Purchasers

There were no purchases of

our equity securities by us or an affiliate during the fourth quarter of the fiscal year covered by the Report.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity