| Schedule of Class A Ordinary Shares Subject to Redemption Reflected |
At March 31, 2025 and December 31, 2024, the Class A ordinary shares subject to redemption reflected in the balance sheets are reconciled in the following table:
|
Gross proceeds
|
|
$
|
184,000,000 |
|
|
Less:
|
|
|
|
|
|
Public Shares issuance costs
|
|
|
(8,158,738 |
)
|
|
Plus:
|
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
16,608,029 |
|
|
Class A ordinary shares subject to possible redemption, December 31, 2024
|
|
|
192,449,291 |
|
|
Plus:
|
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
1,989,268 |
|
|
Class A ordinary shares subject to possible redemption, March 31, 2025
|
|
$
|
194,438,559 |
|
|
At December 31, 2024, the Class A ordinary shares subject to redemption reflected in the balance sheets are reconciled in the following table:
|
Gross proceeds
|
|
$
|
184,000,000 |
|
|
Less:
|
|
|
|
|
|
Class A ordinary shares issuance costs
|
|
|
(8,158,738 |
)
|
|
Plus:
|
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
16,608,029 |
|
|
Class A ordinary shares subject to possible redemption, December 31, 2024
|
|
$
|
192,449,291 |
|
|
| Schedule of Basic and Diluted Net (Loss) Income Per Ordinary Share |
The following tables reflect the calculation of basic and diluted net (loss) income per ordinary share (in dollars, except per share amounts):
|
|
|
For the Three Months Ended
March 31, 2025
|
|
For the Three Months Ended
March 31, 2024
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Basic net (loss) income per ordinary share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net (loss) income
|
|
$
|
(392,024 |
)
|
|
$
|
(95,368 |
)
|
|
$
|
765,894 |
|
$
|
334,547 |
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares outstanding
|
|
|
18,909,000 |
|
|
|
4,600,000 |
|
|
|
9,874,700 |
|
|
4,313,333 |
|
Basic net (loss) income per ordinary share
|
|
$
|
(0.02 |
)
|
|
$
|
(0.02 |
)
|
|
$
|
0.08 |
|
$
|
0.08 |
|
|
|
For the Three Months Ended
March 31, 2025
|
|
For the Three Months Ended
March 31, 2024
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Diluted net (loss) income per ordinary share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net (loss) income
|
|
$
|
(392,024 |
)
|
|
$
|
(95,368 |
)
|
|
$
|
750,726 |
|
$
|
349,716 |
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares outstanding
|
|
|
18,909,000 |
|
|
|
4,600,000 |
|
|
|
9,874,700 |
|
|
4,600,000 |
|
Diluted net (loss) income per ordinary share
|
|
$
|
(0.02 |
)
|
|
$
|
(0.02 |
)
|
|
$
|
0.08 |
|
$
|
0.08 |
|
The following tables reflect the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):
|
|
|
For the Year Ended December 31,
|
| |
|
2024
|
|
2023
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Basic net income (loss) per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income (loss)
|
|
$
|
5,973,630 |
|
$
|
1,625,882 |
|
$
|
—
|
|
$
|
(41,692 |
)
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares outstanding(1)
|
|
|
16,635,787 |
|
|
4,527,869 |
|
|
—
|
|
|
4,000,000 |
|
|
Basic net income (loss) per share
|
|
$
|
0.36 |
|
$
|
0.36 |
|
$
|
—
|
|
$
|
(0.01 |
)
|
|
|
|
For the Year Ended December 31,
|
| |
|
2024
|
|
2023
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Diluted net income (loss) per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income (loss)
|
|
$
|
5,953,340 |
|
$
|
1,646,173 |
|
$
|
—
|
|
$
|
(41,692 |
)
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average shares outstanding(1)
|
|
|
16,635,787 |
|
|
4,600,000 |
|
|
—
|
|
|
4,000,000 |
|
|
Diluted net income (loss) per share
|
|
$
|
0.36 |
|
$
|
0.36 |
|
$
|
—
|
|
$
|
(0.01 |
)
|
|