v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Measurements [Abstract]  
FAIR VALUE MEASUREMENTS

NOTE 8. FAIR VALUE MEASUREMENTS

 

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: 

 

Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

 

Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

 

Level 3: Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.

 

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2025 and 2024 and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value. There were no transfers between levels of fair value hierarchy during the periods ended December 31, 2025 and 2024.

 

December 31, 2025

 

   Quoted
Prices in		   Significant
Other		   Significant
Other		 
   Active
Markets		   Observable
Inputs		   Unobservable
Inputs		 
Description  (Level 1)   (Level 2)   (Level 3) 
Assets:            
Investments held in Trust Account – mutual funds $306,880,908  $      —  $     — 

 

December 31, 2024

 

   Quoted
Prices in		   Significant
Other		   Significant
Other		 
   Active
Markets		   Observable
Inputs		   Unobservable
Inputs		 
Description  (Level 1)   (Level 2)   (Level 3) 
Assets:            
Investments held in Trust Account – mutual funds $294,617,243  $     —  $   — 

  

The following table presents information about the Company’s assets that are measured at fair value on August 2, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

   Level   August 2,
2024		 
Equity:        
Fair value of Public Warrants for Class A ordinary shares subject to redemption allocation  3  $3,421,250 

 

The fair value of Public Warrants was determined using a binomial-lattice model. The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:

 

   August 2,
2024		 
Underlying stock price $9.92 
Exercise price  11.50 
Term (years)  4.70 
Risk-free rate  3.61%
Volatility  1.0%
Probability of completion a Business Combination  60.0%