v3.25.2
Consolidated Condensed Balance Sheets - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets      
Cash $ 963,135 $ 1,697,777
Prepaid expense 63,750 2,160
Prepaid insurance – current portion 212,508 249,840
Total current assets 1,239,393 1,949,777
Deferred offering costs   332,894
Long-term prepaid insurance 25,128  
Marketable securities held in Trust Account 194,438,559 192,449,291
TOTAL ASSETS 195,677,952 194,424,196 332,894
Current liabilities      
Accrued offering costs   311,368
Accounts payable and accrued expenses 1,783,561 119,706 15,000
Total current liabilities 1,870,744 187,515 396,463
Deferred underwriting fee 5,520,000 5,520,000
TOTAL LIABILITIES 7,390,744 5,707,515 396,463
Commitments (Note 6)
SHAREHOLDERS’ DEFICIT      
Preference shares, value
Additional paid-in capital 24,540
Accumulated deficit (6,151,862) (3,733,121) (88,569)
TOTAL SHAREHOLDERS’ DEFICIT (6,151,351) (3,732,610) [1] (63,569) [1]
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 195,677,952 194,424,196 332,894
Class A Ordinary Shares      
Current liabilities      
Class A ordinary shares subject to possible redemption, 18,400,000 shares at redemption value of $10.57 and $10.46 per share as of March 31, 2025 and December 31, 2024, respectively 194,438,559 192,449,291
SHAREHOLDERS’ DEFICIT      
Ordinary shares, value 51 51
Class B Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares, value 460 460 [2] 460 [2]
Related Party      
Current liabilities      
Due to related party $ 87,183 67,809
Promissory note – related party   $ 70,095
[1] On February 1, 2024, the Company effected a share capitalization with respect to the Class B ordinary shares of 1,437,500 Class B ordinary shares, resulting in a total of 4,312,500 Class B ordinary shares held by the Sponsor and the Company’s two independent directors and one advisor. On February 8, 2024, the Company effected a share capitalization with respect to the Class B ordinary shares of 287,500 Class B ordinary shares, resulting in a total of 4,600,000 Class B ordinary shares held by the Sponsor and the Company’s two independent directors and one advisor.
[2] On February 1, 2024, the Company effected a share capitalization with respect to the Class B ordinary shares of 1,437,500 Class B ordinary shares, resulting in a total of 4,312,500 Class B ordinary shares held by the Sponsor and the Company’s two independent directors and one advisor. On February 8, 2024, the Company effected a share capitalization with respect to the Class B ordinary shares of 287,500 Class B ordinary shares, resulting in a total of 4,600,000 Class B ordinary shares held by the Sponsor and the Company’s two independent directors and one advisor.