v3.26.1
Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 — SUBSEQUENT EVENTS

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date and through the date that the financial statements were issued. Based upon this review, except as noted below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

 

On June 11, 2026, the Company consummated its Initial Public Offering of 17,250,000 units (the “Units” and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”), including 2,250,000 Units issued pursuant to the exercise of the underwriters’ over-allotment option. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $172,500,000 (the “Public Proceeds”).

 

Simultaneously with the closing of the Initial Public Offering, the Company completed the private sale of 260,000 Units (the “Private Units”) at a price of $10.00 per Unit in a private placement to the Company’s sponsor, JAB Acquisition Sponsor I, LLC (the “Sponsor”) generating gross proceeds to the Company of $2,600,000.

 

Transaction costs amounted to $3,396,791, consisting of underwriter’s fees of $1,000,000, fair value of representative shares of $1,240,000 and $1,156,791 of other offering costs.

 

Simultaneously with the closing of the Initial Public Offering, the Company issued an aggregate of 95,000 Class A ordinary shares to the Company’s three independent directors. The Company has estimated the fair value of the 95,000 Class A ordinary shares as $117,800 on the date of issuance. The fair value was determined by applying a probability of Business Combination factor to the Initial Public Offering price. The shares are subject to performance and lock-up provisions. As such, the Company will not recognize any expense until the Initial Business Combination is probable.

 

As of June 11, 2026, $811,381 of cash proceeds from the Initial Public Offering and related Private Placement was held by the Sponsor and due to the Company. As of June 11, 2026, the Unsecured Promissory Note was paid in full in connection with the Initial Public Offering in the amount of $48,895 and is no longer available. On June 23, 2026, the Sponsor transferred the $811,381 to the Company’s operating account outside of the trust account.