v3.26.1
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 an assessment of the assumptions that market participants would use in pricing the asset or liability.

The fair value of the Public Warrants is $1,890,313, or $0.263 per Public Warrant. The fair value of Public Warrants was determined using the Monte Carlo Simulation Model. The Public Warrants have been classified within shareholders’ (deficit) equity and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the Level 3 valuation of the Public Warrants:

 

   March 24,
2025		 
Current underlying unit price  $10.02 
Market pricing adjustment   5.0%
Strike price  $11.50 
Redemption price  $18.00 
Probability of a successful Business Combination   15.0%
Risk-free rate   4.04%

 

The Company classifies its securities in the Trust Account that are invested in funds, such as mutual funds or money market funds, that primarily invest in U.S. government and equivalent securities as trading securities in accordance with FASB ASC Topic 320, “Investments–Debt and Equity Securities”. Trading securities are recorded at fair market value on the accompanying balance sheets.

 

At December 31, 2025, assets held in the Trust Account were comprised of $148,724,491 in a mutual fund that is invested primarily in U.S. government securities.

 

At December 31, 2024, there were no assets held in the Trust Account.

 

Description  Level   December 31,
2025		   December 31,
2024		 
Assets:            
Marketable securities held in Trust Account – U.S. Treasury Securities Money Market Fund  1   $148,724,491   $
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