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• Business Combination Facilitation: Westin Acquisition provides a structure and capital to facilitate a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with a private operating company, which is its sole operational focus as a Special Purpose Acquisition Company (SPAC).

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Westin Acquisition Corp. (symbol: WSTN) was a Special Purpose Acquisition Company (SPAC). A SPAC is a shell company created to raise capital through an initial public offering (IPO) with the sole purpose of acquiring an existing private company. As such, Westin Acquisition Corp. did not have major customers in the traditional sense of selling products or services to other companies or individuals.

Its primary function was to complete a business combination. Westin Acquisition Corp. merged with Cazoo, an online used car retailer, in August 2021. Following this merger, the stock symbol changed to CZOO, and the original entity (WSTN) ceased to exist as a standalone operating company generating revenue from customers.

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Kok Peng Na, Chief Executive Officer

Mr. Kok Peng Na has served as Chairperson of the Board of Directors and Chief Executive Officer of Westin Acquisition Corp since June 3, 2025. Prior to this role, he was the Group Head of Deposits at Standard Chartered Bank in Singapore, a position he held since May 2023.

Stanney Patrick Majawit, Chief Financial Officer

Mr. Stanney Patrick Majawit has served as Chief Financial Officer of Westin Acquisition Corp since its formation. He is a co-founder and Director of Majawit & Associates Sdn. Bhd., a management consulting firm specializing in capital raising, SPAC readiness, cybersecurity, and alternative energy advisory services, a role he has held since May 2021. Additionally, from November 2021 to June 2023, he was a co-founder and Director of Nunuk Ragang Sands & Minerals Sdn. Bhd., where he managed silica sand mining and export operations. From March 2020 to July 2021, Mr. Majawit also served as Senior Vice President at MoneySave (M) Sdn.

Nakoorsha Bin Abdul Kadir, Independent Director

Mr. Nakoorsha Bin Abdul Kadir is an Independent Director of Westin Acquisition Corp. He is a Singapore-qualified lawyer with over two decades of experience in public service, regulatory enforcement, and private legal practice. He also serves as Vice-President of the National University of Singapore Society (NUSS) Management Committee.

Xinglun (Adrian) Chung, Independent Director

Mr. Xinglun (Adrian) Chung serves as an Independent Director for Westin Acquisition Corp. He has held various senior leadership positions in the media industry, including Group Account Director and Senior Account Director at Transmedia, and Regional Business Director at Air Media. His responsibilities in these roles included regional sales management, client acquisition and retention, and campaign strategy. Earlier in his career, he gained sales and management experience at Johnson & Johnson Vision Care, OCBC Bank, and Adecco Group.

Keng Chong (Richard) Lim, Independent Director

Mr. Keng Chong (Richard) Lim is an Independent Director of Westin Acquisition Corp.

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Key Risks to Westin Acquisition (WSTN)

1. Risk of Failure to Complete a Business Combination: As a Special Purpose Acquisition Company (SPAC) or "blank check company," Westin Acquisition Corp's primary business is to identify and complete a merger, share exchange, asset acquisition, or similar business combination. There is substantial doubt about the company's ability to continue as a going concern if it does not find and complete a business combination within the limited timeframe of 18 months from its IPO. Should it fail to do so, the company would be forced to liquidate.
2. Low Liquidity and Uncertain Market Demand Post-Unit Separation: Following the separation of its units (WSTNU) into Class A ordinary shares (WSTN) and rights (WSTNR) in December 2025, the trading volume for WSTN has been low, indicating uncertain market demand and posing a risk of low liquidity for investors.
3. Challenges in Evaluating and Integrating Target Businesses: Westin Acquisition has a limited ability to evaluate the management of a prospective target business. Furthermore, pursuing multiple acquisitions could introduce additional burdens and costs related to negotiations, due diligence, and the subsequent integration of acquired companies' operations.

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The clear emerging threat for Westin Acquisition (WSTN), as a Special Purpose Acquisition Company (SPAC), is the increasing and evolving regulatory scrutiny and proposed rule changes from governmental bodies like the Securities and Exchange Commission (SEC).

These proposed rules aim to increase liability for SPAC participants, enhance disclosure requirements, and treat de-SPAC transactions more akin to traditional initial public offerings (IPOs). If enacted, these changes could significantly raise the cost and complexity of launching and completing SPAC mergers, making the SPAC vehicle less attractive for private companies seeking to go public. This would potentially undermine the fundamental advantages that SPACs offer compared to traditional listing methods, effectively reducing the pool of willing target companies and increasing the difficulty for SPACs like WSTN to successfully complete an acquisition within their mandated timeframe.

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Westin Acquisition (WSTN) is a Special Purpose Acquisition Company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. As a blank check company, WSTN currently has no operating business and therefore generates no revenue of its own.

The future revenue growth drivers for Westin Acquisition over the next 2-3 years will be entirely contingent upon the specific business it acquires. Without a completed acquisition, identifying concrete drivers such as price increases, customer growth, market expansion, or new product launches is not possible. The company's financial reports reflect its status as a non-operating entity, with net income primarily showing operational costs. Therefore, the expected drivers of future revenue growth will emerge only after WSTN successfully completes its initial business combination.

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Share Issuance

• Westin Acquisition Corp completed an Initial Public Offering (IPO) in November 2025, pricing 5,000,000 units at $10.00 per unit, initially raising $50.0 million.
• The underwriters fully exercised their over-allotment option for an additional 750,000 units, bringing the total number of units sold to 5,750,000 and the gross proceeds from the IPO to $57.5 million.
• Concurrently with the IPO, the sponsor acquired 235,000 units in a private placement at $10.00 per unit, generating an additional $2.35 million.

Inbound Investments

• The company raised $57.5 million from its Initial Public Offering (IPO) in November 2025.
• An additional $2.35 million was raised through a private placement of units to the company's sponsor.

Outbound Investments

• Westin Acquisition Corp is a Special Purpose Acquisition Company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, or similar business combination with one or more businesses.
• The company intends to conduct a global search for target businesses, without limitations on geographic region or industry.
• Management has highlighted experience in investing and building businesses in the Asia Pacific (APAC) region as a focus area for potential acquisitions.