v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 7 — Fair Value Measurements

 

At March 31, 2026, assets held in the Trust Account were comprised of $622 in cash and $232,581,384 in U.S. Treasury securities. For the three months ended March 31, 2026, the Company did not withdraw any interest income from the Trust Account.

 

At December 31, 2025, assets held in the Trust Account were comprised of $455 in cash and $230,525,741 in U.S. Treasury securities. For the period from June 27, 2025 (inception) through December 31, 2025, the Company did not withdraw any interest income from the Trust Account.

 

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

 

  ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

 

  ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

 

  ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

  

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The gross holding (loss) gain and fair value of held-to-maturity securities at March 31, 2026 and December 31, 2025 are as follows:

 

      Held-To-Maturity   Level     Amortized
Cost		     Gross
Holding
Loss		     Fair Value  
March 31, 2026     U.S. Treasury Securities (Mature on 6/4/2026)     1     $ 116,289,527     $ (10,394 )   $ 116,279,133  
March 31, 2026     U.S. Treasury Securities (Mature on 9/3/2026)     1     $ 116,291,857     $ (56,073 )   $ 116,235,784  

 

      Held-To-Maturity   Level     Amortized
Cost		     Gross
Holding
Gain		     Fair Value  
December 31, 2025     U.S. Treasury Securities (Mature on 6/4/2026)     1     $ 115,262,873     $ 35,332     $ 115,298,205  
December 31, 2025     U.S. Treasury Securities (Mature on 3/5/2026)     1     $ 115,262,868     $ 28,136     $ 115,291,004