Averin Capital Acquisition

Strength derives from the fully funded U.S. trust account invested in short dated U.S. government securities or qualifying money market funds.

The trust is restricted and cannot be used for general corporate purposes except for taxes and limited working capital from interest (up to 500,000 dollars per year, with a smaller cap in the final months if a definitive agreement is signed). There is no operating debt.

However, funds are inaccessible until a merger closes and are reduced by deferred underwriting fees and permitted withdrawals, so practical liquidity for operations is minimal.