v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Summary of Class A ordinary shares, classified as temporary equity in the balance sheets

Gross proceeds from Initial Public Offering

    

$

115,000,000

Less:

 

Proceeds allocated to Public Warrants

 

(5,102,550)

Offering costs allocated to Class A ordinary shares subject to possible redemption

 

(6,519,382)

Add:

 

Re-measurement of Class A ordinary shares subject to possible redemption

 

13,922,293

Class A ordinary shares subject to possible redemption, December 31, 2021

 

117,300,361

Re-measurement of Class A ordinary shares subject to possible redemption

 

1,691,913

Class A ordinary shares subject to possible redemption, December 31, 2022

118,992,274

Redemption of Class A ordinary shares subject to possible redemption

(77,625,038)

Re-measurement of Class A ordinary shares subject to possible redemption

6,099,375

Class A ordinary shares subject to possible redemption, December 31, 2023

47,466,611

Re-measurement of Class A ordinary shares subject to possible redemption

(36,721,262)

Class A ordinary shares subject to possible redemption, December 31, 2024

3,469,968

Class A ordinary shares subject to possible redemption, December 31, 2024

14,215,318

Re-measurement of Class A ordinary shares subject to possible redemption

273,217

Class A ordinary shares subject to possible redemption, March 31, 2025

$

14,488,535

Re-measurement of Class A ordinary shares subject to possible redemption

276,684

Class A ordinary shares subject to possible redemption, June 30, 2025

$

14,765,219

Summary of basic and diluted net income (loss) per ordinary share

    

For the Three Months Ended

June 30, 2025

Net loss

$

(24,353)

Accretion of temporary equity to redemption value

(276,684)

Net loss including accretion of temporary equity to redemption value

$

(301,037)

For the Three Months Ended

June 30, 2025

Class A

Class B

Basic and diluted net income (loss) per share:

    

  

    

  

Numerator:

 

  

 

  

Allocation of net loss including accretion of temporary equity

$

(87,890)

$

(213,148)

Allocation of accretion of temporary equity to redemption value

 

276,684

Allocation of net income (loss)

$

188,794

$

(213,148)

Denominator:

 

Weighted-average shares outstanding

 

1,185,481

2,875,000

Basic and diluted net income (loss) per share

$

0.16

$

(0.07)

For the Six Months Ended

June 30, 2025

Net loss

    

$

(316,854)

Accretion of temporary equity to redemption value

 

(549,901)

Net loss including accretion of temporary equity to redemption value

$

(866,755)

For the Six Months Ended

June 30, 2025

Class A

Class B

Basic and diluted net income (loss) per share:

    

  

    

  

Numerator:

 

  

 

  

Allocation of net loss including accretion of temporary equity

$

(253,054)

$

(613,701)

Allocation of accretion of temporary equity to redemption value

 

549,901

Allocation of net income (loss)

$

296,847

$

(613,701)

Denominator:

 

 

Weighted-average shares outstanding

 

1,185,481

 

2,875,000

Basic and diluted net income (loss) per share

$

0.25

$

(0.21)

    

For the Three Months Ended

June 30, 2024

Net loss

$

(78,378)

Accretion of temporary equity to redemption value

(898,727)

Net loss including accretion of temporary equity to redemption value

$

(977,105)

For the Three Months Ended

June 30, 2024

    

Class A

    

Class B

Basic and diluted net income (loss) per share:

Numerator:

Allocation of net loss including accretion of temporary equity

$

(583,117)

$

(393,988)

Allocation of accretion of temporary equity to redemption value

898,727

Allocation of net income (loss)

$

315,610

$

(393,988)

Denominator:

Weighted-average shares outstanding

4,255,117

2,875,000

Basic and diluted net income (loss) per share

$

0.07

$

(0.14)

    

For the Six Months Ended

June 30, 2024

Net loss

$

(115,508)

Accretion of temporary equity to redemption value

 

(1,922,211)

Net loss including accretion of temporary equity to redemption value

$

(2,037,719)

For the Six Months Ended

June 30, 2024

    

Class A

    

Class B

Basic and diluted net income (loss) per share:

 

  

 

  

Numerator:

 

  

 

  

Allocation of net loss including accretion of temporary equity

$

(1,216,072)

$

(821,647)

Allocation of accretion of temporary equity to redemption value

 

1,922,211

Allocation of net income (loss)

$

706,139

$

(821,647)

Denominator:

 

 

Weighted-average shares outstanding

 

4,255,117

2,875,000

Basic and diluted net income (loss) per share

$

0.17

$

(0.29)