SUBSEQUENT EVENTS |
3 Months Ended |
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Mar. 31, 2025 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9. SUBSEQUENT EVENTS
The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements, other than those described below.
Initial Public Offering
The registration statement for the Company’s Initial Public Offering was declared effective on April 30, 2025. On May 2, 2025, the Company consummated the Initial Public Offering of 172,500,000. Each Unit consists of one Class A ordinary share and one-half of one Public Warrant, resulting in the issuance of Class A ordinary shares and Public Warrants. Units including additional public units as the underwriters’ over-allotment option was exercised in full. The Units were sold at an offering price of $ per Unit, generating gross proceeds of $
Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 7.00 per unit for the remaining Private Placement Units purchased, generating total proceeds of $4,093,750. Each Private Placement Unit consists of one Class A ordinary share and one-half of one Private Placement Warrant, resulting in the issuance of Class A ordinary shares and Private Placement Warrants. units including additional Private Placement Units as the underwriters’ over-allotment option was exercised in full to the Sponsor, at a price of $10.00 per unit for the first Private Placement Units purchased and at a price of $
See Notes 1, 3 and 4 for additional information.
Promissory Note – Related Party
On April 18, 2025, the Promissory Note was amended and restated, resulting in a reduction of the maximum aggregate principal amount from $700,000 to $525,000 (see Note 5). On May 2, 2025, the $251,803 balance due to the Sponsor was transferred into the Promissory Note. On May 30, 2025, $105,194 of these borrowings were repaid using proceeds not held in the Trust Account, resulting in a balance of $146,609, which was transferred into a Working Capital Loan on June 12, 2025. Following the repayment and transfer, the Promissory Note was settled in full, and no further borrowings are permitted under its terms.
Working Capital Loans
On June 12, 2025, the Company entered into a Working Capital Loan with the Sponsor, pursuant to which the Company may borrow up to $450,000. The Working Capital Loan is non-interest bearing and matures on the earlier of (i) the date on which the Business Combination is consummated and (ii) the Company’s liquidation and is subject to conversion into units (as disclosed in Note 5). On June 12, 2025, the $146,609 balance on the Promissory Note was transferred into the Working Capital Loan. |