v3.25.2
Summary of Significant Accounting Policies - (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Schedule of calculation of basic and diluted net income (loss) per ordinary share

The following table reflects the calculation of basic and diluted net income per ordinary share:

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

Redeemable

 

 

Non-Redeemable
Class A

 

 

Redeemable

 

 

Non-
Redeemable
Class A

 

 

Redeemable

 

 

Non-
Redeemable
Class A

 

 

Redeemable

 

 

Non-
Redeemable
Class A

 

 

Class A

 

 

And Class B

 

 

Class A

 

 

And Class B

 

 

Class A

 

 

And Class B

 

 

Class A

 

 

And Class B

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income

 

$

660,571

 

 

$

181,801

 

 

$

1,388,502

 

 

$

574,225

 

 

$

2,788,943

 

 

$

767,566

 

 

$

1,093,272

 

 

$

845,363

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares
   outstanding

 

 

28,750,000

 

 

 

7,912,500

 

 

 

17,569,444

 

 

 

7,265,972

 

 

 

28,750,000

 

 

 

7,912,500

 

 

 

8,736,188

 

 

 

6,755,180

 

Basic income per share

 

 

0.02

 

 

 

0.02

 

 

 

0.08

 

 

 

0.08

 

 

 

0.10

 

 

 

0.10

 

 

 

0.13

 

 

 

0.13

 

Diluted net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income

 

$

660,571

 

 

$

181,801

 

 

$

1,368,414

 

 

$

594,313

 

 

$

2,788,943

 

 

$

767,566

 

 

$

1,080,626

 

 

$

858,009

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares
   outstanding

 

 

28,750,000

 

 

 

7,912,500

 

 

 

17,569,444

 

 

 

7,630,556

 

 

 

28,750,000

 

 

 

7,912,500

 

 

 

8,736,188

 

 

 

6,936,464

 

Diluted income per share

 

$

0.02

 

 

$

0.02

 

 

$

0.08

 

 

$

0.08

 

 

$

0.10

 

 

$

0.10

 

 

$

0.13

 

 

$

0.12

 

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share:

 

 

For the Year Ended
December 31, 2024

 

 

For the Period from
December 18, 2023 (Inception)
Through December 31, 2023

 

 

Class A

 

 

Class A and B

 

 

Class A

 

 

Class A and B

 

 

Redeemable

 

 

Non-
Redeemable

 

 

Redeemable

 

 

Non-
Redeemable

 

Basic net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income (loss)

 

$

6,325,884

 

 

$

2,465,990

 

 

$

—

 

 

$

(18,958

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

18,825,342

 

 

 

7,338,596

 

 

 

—

 

 

 

6,250,000

 

Basic income (loss) per share

 

$

0.34

 

 

$

0.34

 

 

$

—

 

 

$

(0.00

)

 

 

 

For the Year Ended
December 31, 2024

 

 

For the Period from
December 18, 2023 (Inception)
Through December 31, 2023

 

 

Class A

 

 

Class A and B

 

 

Class A

 

 

Class A and B

 

 

Redeemable

 

 

Non-
Redeemable

 

 

Redeemable

 

 

Non-
Redeemable

 

Diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income

 

$

6,304,223

 

 

$

2,487,651

 

 

$

—

 

 

$

—

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

18,825,342

 

 

 

7,428,493

 

 

 

—

 

 

 

—

 

Diluted income per share

 

$

0.33

 

 

$

0.33

 

 

$

—

 

 

$

—

 

 
Schedule of Class A ordinary shares subject to possible redemption

At June 30, 2025 and December 31, 2024, the Class A ordinary shares subject to redemption reflected in the condensed consolidated balance sheets are reconciled in the following table:

 

Gross proceeds

 

$

287,500,000

 

Less:

 

 

 

Proceeds allocated to Public Warrants

 

 

(1,437,500

)

Public Shares issuance costs

 

 

(14,474,543

)

Plus:

 

 

 

Accretion of carrying value to redemption value

 

 

24,534,690

 

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

 

 

296,122,647

 

Plus:

 

 

 

Accretion of carrying value to redemption value

 

 

2,997,592

 

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

 

 

299,120,239

 

Plus:

 

 

 

Accretion of carrying value to redemption value

 

 

2,181,033

 

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

 

$

301,301,272

 

At December 31, 2024, the Class A ordinary shares subject to possible redemption reflected in the balance sheets are reconciled in the following table:

 

Gross proceeds

 

$

287,500,000

 

Less:

 

 

 

Proceeds allocated to Public Warrants

 

 

(1,437,500

)

Class A ordinary shares issuance costs

 

 

(14,474,543

)

Plus:

 

 

 

Accretion of carrying value to redemption value

 

 

24,534,690

 

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

 

$

296,122,647