Related Parties |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Parties [Abstract] | |
| RELATED PARTIES | NOTE 5 — RELATED PARTIES
Founder Shares
On March 19, 2026, the Sponsor received 9,857,143 of the Company’s Class B ordinary shares (the “Founder Shares”) in exchange for a payment of $25,000 to a vendor.
Up to 1,285,714 Founder Shares held by the Sponsor were subject to forfeiture by the holders thereof depending on the extent to which the underwriters’ over-allotment option was exercised, so that the number of Founder Shares will collectively represent approximately 35% of the Company’s issued and outstanding shares upon the completion of the Initial Public Offering. No Class B ordinary shares were forfeited in connection with the Initial Public Offering, as the underwriters fully exercised the over-allotment option.
General and Administrative Services
The Company entered into an agreement, commencing on the first date on which the Company’s securities were listed on Nasdaq, to pay the Sponsor or an affiliate thereof a monthly fee of $10,000 for office space, utilities and secretarial and administrative support.
Unsecured Promissory Note
The Sponsor agreed to loan the Company up to $300,000 under an unsecured promissory note to be used for a portion of the expenses incurred before the Initial Public Offering. These loans are non-interest bearing, unsecured and are due on the earlier of September 19, 2027, or the consummation of the Initial Public Offering. As of March 31, 2026, there was $48,895 outstanding under such promissory note. As of June 11, 2026, the loan was paid in full in connection with the Initial Public Offering and is no longer available.
Working Capital Loans
In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $600,000 of the notes may be converted into private placement units of the post-business combination entity at the price of $10.00 per private placement unit. Such units would be identical to the Private Placement Units. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans. As of March 31, 2026, there was amount outstanding under the Working Capital Loans. |