Subsequent Events |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 9 — Subsequent Events
The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date when these unaudited condensed financial statements were issued. Based on this review, the Company subsequent events that would require adjustment or disclosure in the financial statements.
On April 20, 2026, both the Company and Pubco deposited $25,000 each, totaling $50,000 in Monthly Extension Fees into the Trust Account for the public shareholders, which enabled the Company to extend the period of time it has to consummate its initial business combination by one month to May 22, 2026.
On May 5, 2026, the Company issued an unsecured promissory note in the principal amount of $100,000 to the Target in connection with the Target’s payment of an aggregate of $100,000 of the Monthly Extension Fee through four deposits of $25,000, representing 50% of the Monthly Extension Fee per deposit pursuant to the BCA.
The Target Extension Note is non-interest bearing and payable upon the earliest of (i) termination of the Business Combination Agreement in accordance with its terms other than by the Company pursuant to Section 10.1(e) thereof, (ii) consummation of the Company’s initial business combination, and (iii) the effective date of the winding up of the Company.
The Target has the right, but not the obligation, to convert all or a portion of the outstanding balance of the Target Extension Note into private units of the Company at a conversion price of $10.00 per unit. Each private unit consists of one ordinary share and one right to receive one-seventh (1/7) of one ordinary share upon consummation of a business combination.
In the event of a valid termination of the Business Combination Agreement by the Company pursuant to Section 10.1(e), and upon the completion of a business combination by the Company with another target, the Target may elect either repayment of the outstanding balance under the Target Extension Note or conversion of the outstanding balance into common or ordinary shares of the post-combination public company at a conversion price of $5.00 per share, subject to customary equitable adjustment provisions. |