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:

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2026 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

The rights issued in connection with the IPO and the Private Placement are classified as equity (see Note 2). At issuance on August 7, 2025, $1,904,400 of the proceeds of the IPO was allocated to the public rights on a relative fair value basis, as reflected in the reconciliation of ordinary shares subject to possible redemption included in Note 2. The rights are not subsequently remeasured at fair value.

The following table presents the fair value hierarchy level of the valuation inputs utilized to determine the fair value of the Public Rights at issuance:

The fair value of the Public Rights was determined using an iterative analysis based on market comparables. The Public Rights have been classified within shareholders’ equity and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of Public Rights: