| Schedule of Assets that are Measured at Fair Value on a Recurring Basis |
The following tables present information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: | March 31, 2026 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Assets: | | | | | | | | | | | | | Investments held in Trust Account – Money Market Fund | | 1 | | $ | 301,732 | | $ | — | | $ | — | | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Return of capital subscription shares liability | | 3 | | $ | — | | $ | — | | $ | 149,200 | | December 31, 2025 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Assets: | | | | | | | | | | | | | Investments held in Trust Account – Money Market Fund | | 1 | | $ | 297,614 | | $ | — | | $ | — | | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Return of capital subscription shares liability | | 3 | | $ | — | | $ | — | | $ | 147,600 |
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The following tables present information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2025 and 2024 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: | December 31, 2025 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Assets: | | | | | | | | | | | | | Investments held in Trust Account – Money Market Fund | | 1 | | $ | 297,614 | | $ | — | | $ | — | | Liabilities: | | | | | | | | | | | | | Return of capital subscription shares liability | | 3 | | $ | — | | $ | — | | $ | 147,600 | | December 31, 2024 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Assets: | | | | | | | | | | | | | Investments held in Trust Account – Money Market Fund | | 1 | | $ | 3,666,439 | | $ | — | | $ | — | The following tables present information about the Company’s equity instruments that are measured at fair value at August 11, 2025, February 9, 2025 and December 6, 2024, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: | August 11, 2025 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Liabilities: | | | | | | | | | | | | | Return of capital subscription shares liability | | 3 | | $ | — | | $ | — | | $ | 164,000 | | February 9, 2025 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Equity: | | | | | | | | | | | | | Fair value of 300,000 subscription shares | | 3 | | $ | — | | $ | — | | $ | 55,500 | | December 6, 2024 | | Level | | Quoted
Prices in
Active
Markets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Other
Unobservable
Inputs
(Level 3) | | Equity: | | | | | | | | | | | | | Fair value of 200,000 subscription shares | | 3 | | $ | — | | $ | — | | $ | 878,000 |
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| Schedule of Changes in the Fair Value of Level 3 Return of Capital Subscription Shares Liability |
The following table presents the changes in the fair value of Level 3 return of capital subscription shares liability: | | | Return of
Capital
Subscription
Shares Liability | | Fair value as of December 31, 2025 | | $ | 147,600 | | Change in fair value | | | 1,600 | | Fair value as of March 31, 2026 | | $ | 149,200 |
|
The following table presents the changes in the fair value of Level 3 return of capital subscription shares liability: | | | Return of
Capital
Subscription
Shares
Liability | | Fair value as of December 31, 2024 | | $ | — | | | Initial measurement on August 11, 2025 | | | 164,000 | | | Change in fair value | | | (16,400 | ) | | Fair value as of December 31, 2025 | | $ | 147,600 | |
|
| Schedule of Market Approach Model |
The key inputs into the market approach model as of March 31, 2026: | Inputs | | March 31,
2026 | | December 31,
2025 | | Market Price | | $ | 9.02 | | | $ | 9.02 | | | Discount for Lack of Marketability | | | 8 | % | | | 9 | % | | Discount for Probability of Liquidation | | | 50 | % | | | 50 | % | | Discount for Expected Forfeiture | | | 10 | % | | | 10 | % |
|
The return of capital subscription shares liability was valued using the market approach. The following table presents the quantitative information regarding market assumptions used in the valuation of return of capital subscription shares liability: | Inputs | | August 11,
2025 | | Market Price | | $ | 10.00 | | | Discount for Lack of Marketability | | | 9 | % | | Discount for Probability of Liquidation | | | 50 | % | | Discount for Expected Forfeiture | | | 10 | % | | Inputs | | February 9,
2025 | | Market Price | | $ | 1.00 | | | Discount for Lack of Marketability | | | 7 | % | | Discount for Probability of Liquidation | | | 50 | % | | Discount for Expected Forfeiture | | | 20 | % | | Inputs | | December 6,
2024 | | Market Price | | $ | 11.92 | | | Discount for Lack of Marketability | | | 8 | % | | Discount for Probability of Liquidation | | | 50 | % | | Discount for Expected Forfeiture | | | 20 | % | The key inputs into the market approach model as of December 31, 2025: | Inputs | | December 31,
2025 | | Market Price | | $ | 9.02 | | | Discount for Lack of Marketability | | | 9 | % | | Discount for Probability of Liquidation | | | 50 | % | | Discount for Expected Forfeiture | | | 10 | % |
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