COMMITMENTS AND CONTINGENCIES |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | NOTE 8 - COMMITMENTS AND CONTINGENCIES
Under the Underwriting Agreement, the Company was obligated to pay an additional fee (the “Deferred Underwriting Compensation”) of 3.5% ($4,428,000) of the gross proceeds of the Public Offering, payable upon the Company’s completion of the Initial Business Combination. The Underwriting Compensation was recorded as a deferred liability on the balance sheet as of December 31, 2023.
In connection with the closing of the Sponsor Alliance on February 23, 2024 (see Note 6), the Company obtained a waiver with respect to the underwriters’ payment of the deferred underwriting compensation additional fee. This $4,428,000 adjustment was reflected in the changes in capital deficiency section of the Company’s 2024 financial statements.
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