v3.26.1
Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 10 – Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date the unaudited condensed consolidated financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements except the Fourth Extension Meeting as described in Note 1, Extension Agreement and amendment to Working Capital Loans as described in Note 4 and as described below.

 

Subsequent to September 30, 2025, the Company deposited an aggregate of $609,364 into the Trust Account to extend the liquidation date to April 29, 2026. In addition, the Company drew an aggregate of $609,364 under the extension loan and $755,899 under the working capital loan, respectively.

 

On October 16, 2025, the Company entered into a fourth amendment to Sio Business Combination Agreement, pursuant to which the parties agreed to further extend the outside date from December 31, 2025 to April 29, 2026.

 

On March 13, 2026, the Company entered into a fifth amendment to Sio Business Combination Agreement, pursuant to which the parties agreed to further extend the outside date from April 29, 2026 to April 29, 2027.

 

On April 28, 2026, the Company held an extraordinary general meeting of shareholders to approve an amendment to its Articles extending the deadline to consummate an initial business combination from April 29, 2026 to April 29, 2027. In connection with the meeting, holders of 100,100 Public Shares redeemed their shares for approximately $12.93 per share (or an aggregate of $1.29 million), resulting in approximately $18.3 million remaining in the Trust Account. Additionally, the Sponsor agreed to fund monthly extension contributions of $100,000, beginning April 30, 2026 through the earlier of the Company's liquidation or April 29, 2027, up to an aggregate of $1.2 million, for which the Company issued a $1.2 million promissory note to the Sponsor.