Subsequent Events |
5 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 9 — Subsequent Events
The Company evaluated subsequent events and transactions that occurred after the balance sheet date through March 25, 2026, the date that the financial statements were issued. Based upon this review, other than described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statement.
Commencing on January 20, 2026, the Company entered into an agreement with the Sponsor to pay an aggregate of $10,000 per month for office space, utilities and secretarial and administrative support.
The registration statement for the Company’s Initial Public Offering was declared effective on January 20, 2026. On January 22, 2026, the Company consummated the Initial Public Offering of Units at $ per Unit, generating gross proceeds of $200,000,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of an aggregate of Private Warrants to the Sponsor in a private placement, at a price of $1.00 per Private Placement Warrant, or $5,000,000 in the aggregate.
Following the closing of the Initial Public Offering, on January 22, 2026, an amount of $200,000,000 ($ per Public Unit) from the net proceeds of the sale of the Units, and a portion of the proceeds of the sale of the Private Warrants, was held in a Trust Account.
On January 22, 2026, the underwriters were paid in cash an underwriting discount of 1.50% of the gross proceeds of the Initial Public Offering, or $3,000,000 in the aggregate. Upon the consummation of the initial Business Combination, the Company will pay the underwriters a deferred underwriting discount of 2.50% of the gross proceeds of the Initial Public Offering, or $5,000,000 in the aggregate.
On January 22, 2026, the Sponsor granted membership interests equivalent to an aggregate of founder shares to the independent directors of the Company. The Company recognized share-based compensation expense of $ on January 22, 2026.
On January 22, 2026, the Company fully settled the $286,183 outstanding balance of the promissory note. Borrowings under the note are no longer available.
On January 26, 2026, the Company consummated the closing of an additional Units sold pursuant to the underwriters’ over-allotment option, generating gross proceeds of $25,000,000.
Simultaneously with the consummation of the over-allotment option on January 26, 2026, the Company also consummated the sale of an additional Private Warrants to the Sponsor at a price of $1.00 per Private Warrant, generating gross proceeds of $375,000. As a result of the partial exercise of the over-allotment option, founder shares are no longer subject to forfeiture. As of January 26, 2026, the Sponsor owes the Company an aggregate amount of $375,000, representing the funds advanced in connection with the purchase of Private Warrants by the Sponsor related to the partial exercise of the over-allotment option.
As of January 26, 2026, a total of $225,000,000 of the net proceeds from the Initial Public Offering, including the partial over-allotment option, and the sale of the Private Warrants were placed in the Trust Account.
On January 26, 2026, the underwriters were paid in cash an additional underwriting discount of $375,000 and the underwriters are entitled to an additional deferred underwriting discount of $625,000 as a result of the partial exercise of the over-allotment option.
The remaining underwriters’ over-allotment option for Units expired on March 6, 2026, resulting in founder shares being forfeited to the Company and the Company closed the remaining $41,900 over-allotment option liability against accumulated deficit.
Commencing on March 13, 2026, the holders of the Company’s Units may elect to separately trade the Class A ordinary shares and warrants included in the Units. Any Units not separated will continue to trade on Nasdaq under the symbol “XCBEU.” Any underlying Class A ordinary shares and warrants that are separated will trade on Nasdaq under the symbols “XCBE” and “XCBEW,” respectively. |