{"url_path":"/sec/paac/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/2087446/0001213900-26-056948-index.html","accession_number":"0001213900-26-056948","cik":"0002087446","ticker":"PAAC","issuer_name":"Proem Acquisition Corp. I","edgar_url":"https://www.sec.gov/Archives/edgar/data/2087446/0001213900-26-056948-index.html","primary_entity_key":"0002087446","primary_entity_name":"Proem Acquisition Corp. I"},"word_count":407,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities\nand Use of Proceeds.\n\n \n\nOn February 13, 2026, we consummated the Initial\nPublic Offering of 13,000,000 Units, generating gross proceeds of $130,000,000. The securities in the offering were registered under the\nSecurities Act on registration statement on Form S-1 (No. 333-292217). The Securities and Exchange Commission declared the registration\nstatements effective on January 29, 2026.\n\n \n\nSimultaneously with the closing of the Initial Public Offering, we\nconsummated the sale of the private placement of an aggregate 292,500 Private Units to the Sponsor at a price of $10.00 per Private Unit,\ngenerating total proceeds of $2,925,000. Each Private Unit consists of one ordinary share, and one-half of one redeemable warrant. The\nissuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.\n\n \n\nThe Private Units are identical to the Units sold in the Initial Public\nOffering, except that the Private Units (including the private shares and the ordinary shares issuable upon exercise of the private warrants)\nare not transferable, assignable or salable until after the completion of a Business Combination, subject to certain limited exceptions.\n\n  \n\nOn February 13, 2026, the Company issued to Clear\nStreet LLC, the representative of the underwriters (“Clear Street”), 97,500 ordinary shares (the “Representative Shares”).\nClear Street has agreed not to transfer, assign or sell any Representative Shares without the Company’s written consent until the\ncompletion of the initial Business Combination. In addition, Clear Street has agreed (i) to waive its redemption rights with respect to\nRepresentative Shares in connection with the completion of an initial Business Combination and (ii) to waive its rights to liquidating\ndistributions from the Trust Account with respect to Representative Shares if the Company fails to complete an initial Business Combination\nwithin the Completion Window. The Representative Shares were issued pursuant to the exemption from registration contained in Section 4(a)(2)\nof the Securities Act of 1933, as amended, as the transaction did not involve a public offering.\n\n \n\nOf the gross proceeds received from the Initial\nPublic Offering and the proceeds of the sale of the Private Units, an aggregate of $130,000,000 was placed in the trust account.\n\n \n\nWe paid a total transaction costs of $6,036,515,\nconsisting of $975,000 of cash underwriting fees, $4,550,000 of deferred underwriting fees, and $511,515 of other offering costs.\n\n \n\nFor a description of the use of the proceeds generated\nin our Initial Public Offering, see Part I, Item 2 of this Quarterly Report."}