CAPITAL DEFICIENCY |
12 Months Ended | ||||||
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Dec. 31, 2025 | |||||||
| Equity [Abstract] | |||||||
| CAPITAL DEFICIENCY | NOTE 4 - CAPITAL DEFICIENCY:
Class A ordinary shares
The Company is authorized to issue up to Class A ordinary shares of $ par value each. Pursuant to the initial Public Offering on December 31, 2022 the Company issued and sold an aggregate of Class A ordinary shares as part of the Units sold in the respective transaction. The Units (which also included Warrants) were sold at a price of $ per Unit, and for an aggregate consideration of $126,500,000 in the Public. See Note 3 above for further information regarding those share issuances.
Class B ordinary shares
As of December 31, 2025 and 2024, there was ordinary Class B share outstanding.
Class B ordinary shares are convertible into Class A ordinary shares, on a one-to-one basis, at any time and from time to time at the option of the holder, or automatically on the day of the business combination. Class B ordinary shares also possess the sole right to vote for the election or removal of directors, until the consummation of an initial business combination.
The Company is authorized to issue up to Preference Shares of $ par value each. As of December 31, 2025 and 2024, the Company has Preference shares issued and outstanding.
CACTUS ACQUISITION CORP. 1 LIMITED NOTES TO FINANCIAL STATEMENTS (continued)
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