v3.25.2
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 4 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2024
Jun. 30, 2025
Cash Flows from Operating Activities:        
Net income     $ 87,168 $ 3,136,231
Adjustments to reconcile net income to net cash used in operating activities:        
Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares     6,236  
Interest earned on marketable securities and cash held in Trust Account $ (1,786,926) $ (167,532) (167,532) (3,523,660)
Payment of general and administrative costs through promissory note - related party     10,420  
Change in fair value of over-allotment option liability   (27,365) (27,365)  
Interest due from Everli (2,540)     (2,540)
Interest expense on Sponsor Loan 109     109
Changes in operating assets and liabilities:        
Prepaid expenses     (313,820) 45,083
Due from Sponsor     2,447  
Accounts payable and accrued expenses     16,084 22,328
Net cash used in operating activities     (386,362) (322,449)
Cash Flows from Investing Activities:        
Investment of cash in Trust Account     (160,000,000)  
Payment of invoices on behalf of Everli       (228,079)
Net cash used in investing activities     (160,000,000) (228,079)
Cash Flows from Financing Activities:        
Proceeds from sale of Units, net of underwriting discounts paid     157,000,000  
Proceeds from sale of Private Placements Warrants     5,000,000  
Repayment of promissory note - related party     (249,389)  
Proceeds from Sponsor Loan       228,079
Payment of offering costs     (327,123)  
Net cash provided by financing activities     161,423,488 228,079
Net Change in Cash     1,037,126 (322,449)
Cash - Beginning of period       878,254
Cash - End of period $ 555,805 $ 1,037,126 1,037,126 555,805
Non-Cash investing and financing activities:        
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares     18,764  
Deferred offering costs paid through promissory note - related party     238,969  
Overallotment liability at Initial Public Offering date     169,119  
Accretion of Class A ordinary shares to redemption value     12,440,865 $ 3,523,660
Deferred underwriting fee payable     6,600,000  
Offering costs charged to additional paid-in capital     $ 584,856