On March 31, 2026, SC II Acquisition Corp., a Cayman Islands exempted company (the "Company"), entered into a non-binding letter of intent (the "LOI") with a payments technology company (the "Target"), which outlines the general terms and conditions of a potential business combination (the "Proposed Transaction") pursuant to which the Company would acquire 100% of the outstanding equity and equity equivalents of the Target.

 

The LOI is a preliminary, non-binding expression of mutual interest and does not constitute a binding commitment, obligation or agreement of the Company or the Target to consummate the Proposed Transaction or any other transaction. Except for certain limited binding provisions, including, among other things, exclusivity, confidentiality, the waiver of claims against the Company's trust account, and governing law, neither the Company nor the Target has any legal obligation to the other party with respect to the Proposed Transaction by virtue of the LOI.