Note 9 — Other Subsequent Events
On April 4, 2025, the Company modified the following key terms of the Proposed Public Offering to:
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1) |
Decrease the number of months to consummate its initial business combination from 18 months to 15 months; |
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2) |
Decrease the initial amount to be held in the trust account from $10.05 per unit to $10.00 per unit; |
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3) |
Decrease the number of Private Placement Units to be purchased by the Sponsor from 280,000 units (or 302,183 units if the underwriters’ over-allotment option is exercised in full) to 231,250 units (or 248,240 units if the over-allotment option is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of $2,312,500 (or $2,482,398 if the over-allotment option is exercised in full); and |
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4) |
Decrease the conversion ratio for each right upon the consummation of a Business Combination from one-eighth (1/8) of one ordinary share to one-tenth (1/10) of one ordinary share. |
On April 4, 2025, the Company and the Sponsor entered into the First Amendment to the Administrative Services Agreement, pursuant to which the monthly fee was increased to $20,000.
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