WENC · West Enclave Merger Corp.

West Enclave Merger Corp., a Cayman Islands blank check company targeting Latin America-focused businesses, completed its IPO on May 1, 2026, selling 10 million units at $10 each for $100 million gross proceeds, alongside a $4.25 million private placement of 425,000 units to its Sponsor and lead underwriter EarlyBirdCapital. This standard SPAC structure places $101 million in a trust account at $10.10 per public share, providing downside protection for public shareholders until a business combination within 21 months or shareholder extension. Key agreements executed include the underwriting agreement with EarlyBirdCapital, rights agreement with Continental as agent, trust agreement, registration rights, private placement purchases, indemnity for all directors/officers, administrative services at $10,000/month to Sponsor, share escrow, business combination marketing (3.5% fee on IPO proceeds payable at closing), and a $287,500 promissory note to EarlyBirdCapital for trust funding. Board expanded to five members with appointments of Jean-Michel Enriquez Dahlhaus and Hector Madero Rivero effective April 29, alongside Indemnity Agreements. Amended articles authorize 200 million Ordinary Shares ($0.0001 par) and 1 million preference shares. Units trade as WENC U on NYSE; separate trading of shares (WENC) and rights (WENC RT) pending. Over-allotment option remains for 1.5 million units.