v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements [Abstract]  
Schedule of Company’s Assets that are Measured at Fair Value

The following tables present information about the Company’s assets that are measured at fair value on June 30, 2025 and December 31, 2024, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

   Fair Value Measured as of June 30, 2025 
   Level 1   Level 2   Level 3   Total 
Assets                
Money market mutual fund held in Trust Account  $240,134,175   $
   $
   $240,134,175 
Liabilities:                    
Forward purchase agreement liability  $
   $
   $1,057,124   $1,057,124 
Total forward purchase agreement liability  $
   $
   $1,057,124   $1,057,124 

 

   Fair Value Measured as of December 31, 2024 
   Level 1   Level 2   Level 3   Total 
Assets                
Money market mutual fund held in Trust Account  $235,193,585   $
   $
   $235,193,585 
Schedule of Fair Value of the Forward Purchase Agreement Derivative Liability

In order to calculate the fair value of the forward purchase agreement derivative liability, the Company utilized the following inputs:

 

   March 26,
2025
     
   (Initial
measurement)
   June 30,
2025
 
Probability of business combination   90%   90%
Underlying ordinary share price  $10.80   $11.10 
Term (years)   0.42    0.25 
Risk-free rate   4.28%   4.41%
Volatility   10.73%   28.82%
Schedule of Changes in the Fair Value

The following table presents the changes in the fair value of the forward purchase agreement (“FPA”) derivative liability:

 

   FPA 
Fair value as of March 26, 2025 (initial measurement)  $893,425 
Change in fair value   (223,693)
Fair value as of March 31, 2025  $669,732 
Change in fair value   387,392 
Fair value as of June 30, 2025  $1,057,124