Aeon Acquisition I

At the shell stage there is no reinvestment record.

Instead, investors face structural dilution and frictions: one whole public warrant per unit at an 11.50 dollar strike, rights equal to one‑fourth of a share per right at close (about 3.66 million incremental public and private right shares), private placement units, restricted Class A shares, and 6,160,715 founder Class B shares outstanding post‑IPO (about 30% of pre‑merger total shares).

The underwriting agreement stipulates a 3% deferred underwriting commission from the trust, and the S‑1 shows a 20,000 dollar per month administrative fee payable to an affiliate. This stack reduces long‑term per‑share value unless an exceptional target justifies it.