v3.25.1
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Summary of company's assets and liabilities that were measured at fair value on a recurring basis

 

 

 

 

Quoted Prices

 

 

Significant Other

 

 

Significant Other

 

 

As of December 31,

 

 

in Active Markets

 

 

Observable Inputs

 

 

Unobservable Inputs

 

 

2024

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Money Market Funds held in Trust Accounts

 

$

47,558,112

 

 

$

47,558,112

 

 

$

 

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability - Non-Redemption Agreement

 

 

1,084,963

 

 

 

 

 

 

 

 

 

1,084,963

 

 

 

 

 

 

 

Quoted Prices

 

 

Significant Other

 

 

Significant Other

 

 

As of December 31,

 

 

in Active Markets

 

 

Observable Inputs

 

 

Unobservable Inputs

 

 

2023

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Money Market Funds held in Trust Accounts

 

$

71,432,177

 

 

$

71,432,177

 

 

$

 

 

$

 

Schedule of summary of changes in the fair value of financial instruments that are measured at fair value on a recurring basis

 

Subscription Purchase

 

 

Non-Redemption

 

 

 

Agreement

 

 

Agreement

 

Balance as of December 31, 2023

 

$

 

 

$

 

Initial Measurement on April 22, 2024

 

 

361,124

 

 

 

 

Initial Measurement on December 31, 2024

 

 

 

 

 

1,084,963

 

Change in estimated fair value

 

 

(361,124

)

 

 

 

Balance as of December 31, 2024

 

$

 

 

$

1,084,963

 

Backstop Subscription Agreement  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Summary of key inputs used to value the company's Backstop subscription agreement / Non-Redemption Agreement

 

 

Initial

 

 

Measurement(1)

Stock price

 

$

11.05

 

 

Risk-free rate

 

 

5.4

 

%

Weighted-average expected life (in years)

 

 

0.5

 

 

Market implied likelihood of Initial Business Combination

 

 

10.4

 

%

(2)
The initial measurement date of the Back-Stop Agreement was April 22, 2024. As the Back-Stop Agreement was waived on December 31, 2024, no remeasurement was required as of December 31, 2024.
Non-Redemption Agreement  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Summary of key inputs used to value the company's Backstop subscription agreement / Non-Redemption Agreement

 

 

Initial

 

 

Measurement(1)

Stock price

 

$

15.00

 

 

Volatility

 

 

118.2

 

%

Risk-free rate

 

 

4.2

 

%

Debt rate

 

 

11.8

 

%

Weighted-average expected life (in years)

 

 

0.5

 

 

(1)
The initial measurement date of the Non-Redemption Agreement was December 31, 2024, as such, no remeasurement was required as of December 31, 2024.