0002075068 2026-04-01 2026-06-30 0002075068 2026-01-01 2026-06-30 0002075068 igac:MeasurementInputMarketAdjustmentMember 2025-11-26 0002075068 igac:MeasurementInputPreadjustedValuePerRightMember 2025-11-26 0002075068 igac:MeasurementInputShareRightsFractionMember 2025-11-26 2025-11-26 0002075068 us-gaap:MeasurementInputSharePriceMember 2025-11-26 0002075068 igac:MeasurementInputUnitsPriceMember 2025-11-26 0002075068 igac:PublicRightMember 2026-06-30 0002075068 us-gaap:FairValueInputsLevel1Member 2025-12-31 0002075068 us-gaap:FairValueInputsLevel1Member 2026-06-30 0002075068 2025-04-07 2025-06-30 0002075068 2025-12-31 0002075068 2026-06-30 0002075068 igac:InitialBusinessCombinationMember 2026-06-30 0002075068 us-gaap:CommonClassBMember 2026-06-30 0002075068 us-gaap:CommonClassAMember 2026-01-01 2026-06-30 0002075068 us-gaap:CommonClassBMember 2025-12-31 0002075068 us-gaap:CommonClassBMember us-gaap:OverAllotmentOptionMember 2025-11-26 2025-11-26 0002075068 us-gaap:CommonClassBMember us-gaap:OverAllotmentOptionMember 2025-09-17 2025-09-17 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2025-09-17 2025-09-17 0002075068 igac:FounderSharesMember us-gaap:CommonClassBMember 2025-09-17 2025-09-17 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2025-06-04 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2025-06-04 2025-06-04 0002075068 us-gaap:CommonClassBMember 2025-06-04 0002075068 us-gaap:CommonClassAMember 2026-06-30 0002075068 us-gaap:CommonClassAMember 2025-12-31 0002075068 igac:UnderwritersAgreementMember 2026-06-30 0002075068 us-gaap:PrivatePlacementMember 2026-06-30 0002075068 us-gaap:PrivatePlacementMember 2026-01-01 2026-06-30 0002075068 igac:UnderwritersAgreementMember 2026-01-01 2026-06-30 0002075068 us-gaap:OverAllotmentOptionMember igac:UnderwritersAgreementMember 2026-06-30 0002075068 us-gaap:IPOMember 2026-01-01 2026-06-30 0002075068 igac:SponsorMember 2026-03-31 0002075068 2026-02-17 0002075068 igac:ConvertiblePromissoryNoteMember 2026-02-17 0002075068 igac:PostBusinessCombinationMember igac:SponsorMember us-gaap:PrivatePlacementMember 2026-06-30 0002075068 igac:WorkingCapitalNoteMember 2026-06-30 0002075068 2026-01-31 0002075068 2025-11-26 0002075068 igac:SponsorMember 2025-06-04 2025-06-04 0002075068 srt:MaximumMember 2026-01-01 2026-06-30 0002075068 srt:MinimumMember 2026-01-01 2026-06-30 0002075068 us-gaap:CommonClassAMember igac:FounderSharesMember 2026-06-30 0002075068 igac:FounderSharesMember 2025-11-15 0002075068 2025-11-15 0002075068 2025-11-15 2025-11-15 0002075068 igac:SponsorMember igac:FounderSharesMember 2025-11-15 0002075068 igac:FounderSharesMember 2025-11-15 2025-11-15 0002075068 igac:IndependentDirectorsMember igac:FounderSharesMember 2025-11-15 2025-11-15 0002075068 igac:SponsorMember 2025-11-15 2025-11-15 0002075068 igac:UnderwritersMember us-gaap:CommonClassBMember us-gaap:OverAllotmentOptionMember 2025-11-26 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2025-09-17 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2026-06-04 2026-06-04 0002075068 igac:SponsorMember us-gaap:CommonClassBMember 2026-06-04 0002075068 2025-11-26 2025-11-26 0002075068 us-gaap:PrivatePlacementMember 2025-11-26 2025-11-26 0002075068 igac:UnderwritersMember us-gaap:PrivatePlacementMember 2025-11-26 2025-11-26 0002075068 igac:SponsorMember us-gaap:PrivatePlacementMember 2025-11-26 2025-11-26 0002075068 igac:SponsorMember us-gaap:PrivatePlacementMember 2025-11-26 0002075068 igac:SponsorMember us-gaap:IPOMember 2025-11-26 2025-11-26 0002075068 us-gaap:CommonClassAMember 2025-11-26 2025-11-26 0002075068 us-gaap:OverAllotmentOptionMember 2025-11-26 2025-11-26 0002075068 us-gaap:IPOMember 2025-11-26 2025-11-26 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2026-06-30 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2026-04-01 2026-06-30 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2026-03-31 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2026-01-01 2026-03-31 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2025-12-31 0002075068 igac:ClassAOrdinarySharesSubjectToPossibleRedemptionMember 2025-01-01 2025-12-31 0002075068 igac:NonredeemableClassAAndClassBCommonStocksMember 2025-04-07 2025-06-30 0002075068 igac:NonredeemableClassAAndClassBCommonStocksMember 2026-01-01 2026-06-30 0002075068 igac:ClassARedeemableOrdinarySharesMember 2026-01-01 2026-06-30 0002075068 igac:NonredeemableClassAAndClassBCommonStocksMember 2026-04-01 2026-06-30 0002075068 igac:ClassARedeemableOrdinarySharesMember 2026-04-01 2026-06-30 0002075068 us-gaap:OverAllotmentOptionMember 2025-11-26 0002075068 2026-01-01 2026-01-31 0002075068 2025-12-01 2025-12-31 0002075068 igac:ThirdPartyMember 2026-06-30 0002075068 igac:SponsorMember igac:PublicSharesMember 2026-06-30 0002075068 us-gaap:IPOMember 2025-11-26 0002075068 us-gaap:CommonClassAMember us-gaap:PrivatePlacementMember 2025-11-26 2025-11-26 0002075068 igac:SPACSponsorLLCMember us-gaap:PrivatePlacementMember 2025-11-26 2025-11-26 0002075068 us-gaap:PrivatePlacementMember 2025-11-26 0002075068 igac:UnderwritersMember us-gaap:OverAllotmentOptionMember 2025-11-26 0002075068 2025-06-30 0002075068 igac:FounderSharesMember 2025-09-17 2025-09-17 0002075068 igac:SponsorMember 2025-09-17 2025-09-17 0002075068 us-gaap:CommonClassBMember us-gaap:OverAllotmentOptionMember 2026-01-01 2026-06-30 0002075068 us-gaap:RetainedEarningsMember 2025-06-30 0002075068 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-06-30 0002075068 us-gaap:RetainedEarningsMember 2025-04-07 2025-06-30 0002075068 us-gaap:AdditionalPaidInCapitalMember 2025-04-07 2025-06-30 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-04-07 2025-06-30 0002075068 us-gaap:RetainedEarningsMember 2026-06-30 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2026-06-30 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2026-06-30 0002075068 us-gaap:RetainedEarningsMember 2026-04-01 2026-06-30 0002075068 2026-03-31 0002075068 us-gaap:RetainedEarningsMember 2026-03-31 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2026-03-31 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2026-03-31 0002075068 2026-01-01 2026-03-31 0002075068 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0002075068 us-gaap:RetainedEarningsMember 2025-12-31 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-12-31 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-12-31 0002075068 igac:NonRedeemableClassAAndClassBOrdinarySharesMember 2025-04-07 2025-06-30 0002075068 igac:NonRedeemableClassAAndClassBOrdinarySharesMember 2026-01-01 2026-06-30 0002075068 igac:NonRedeemableClassAAndClassBOrdinarySharesMember 2026-04-01 2026-06-30 0002075068 us-gaap:CommonClassBMember 2026-08-07 0002075068 us-gaap:CommonClassAMember 2026-08-07 0002075068 igac:RightsEachRightToAcquireOnetenth110OfOneClassAOrdinaryShareMember 2026-01-01 2026-06-30 0002075068 igac:ClassAOrdinarySharesParValue00001PerShareMember 2026-01-01 2026-06-30 0002075068 igac:UnitsEachConsistingOfOneClassAOrdinaryShareAndOneRightMember 2026-01-01 2026-06-30 0002075068 igac:ClassARedeemableOrdinarySharesMember 2025-04-07 2025-06-30 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2026-04-01 2026-06-30 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2026-04-01 2026-06-30 0002075068 us-gaap:AdditionalPaidInCapitalMember 2026-04-01 2026-06-30 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-04-07 2025-06-30 0002075068 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-04-06 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2025-04-06 0002075068 us-gaap:AdditionalPaidInCapitalMember 2025-04-06 0002075068 us-gaap:RetainedEarningsMember 2025-04-06 0002075068 2025-04-06 0002075068 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0002075068 us-gaap:AdditionalPaidInCapitalMember 2026-06-30 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2025-06-30 0002075068 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2026-01-01 2026-03-31 0002075068 us-gaap:CommonClassBMember us-gaap:CommonStockMember 2026-01-01 2026-03-31 0002075068 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0002075068 us-gaap:OverAllotmentOptionMember 2025-12-31 0002075068 us-gaap:OverAllotmentOptionMember 2026-06-30 pure iso4217:USD shares iso4217:USD shares igac:Segment http://fasb.org/srt/2026#ChiefExecutiveOfficerMember 1 0002075068 false --12-31 Q2 00-0000000 10-Q true 2026-06-30 2026 false 001-42972 Invest Green Acquisition Corporation E9 19215 SE 34th Street Suite # 106-159 Camas WA 98607 360 409-7565 Units, each consisting of one Class A Ordinary Share and one Right IGACU NASDAQ Class A Ordinary Shares, par value $0.0001 per share IGAC NASDAQ Rights, each Right to acquire one-tenth (1/10) of one Class A Ordinary Share IGACR NASDAQ Yes Yes Non-accelerated Filer true true false true 18120000 5750000 669779 389108 120425 88075 790204 477183 176163459 173095822 29792 67292 176983455 173640297 214257 2380 75000 75000 400000 896740 1185997 477380 6900000 6900000 8085997 7377380 0.0001 0.0001 17250000 17250000 10.21 10.03 176163459 173095822 0.0001 0.0001 5000000 5000000 0.0001 0.0001 500000000 500000000 870000 870000 870000 870000 87 87 0.0001 0.0001 50000000 50000000 5750000 5750000 5750000 5750000 575 575 -7266663 -6833567 -7266001 -6832905 176983455 173640297 245904 440910 42482 -245904 -440910 -42482 4512 7814 1545617 3067637 1550129 3075451 1304225 2634541 -42482 17250000 17250000 17250000 17250000 0.05 0.05 0.11 0.11 6620000 6620000 6620000 6620000 5000000 5000000 0.05 0.05 0.11 0.11 -0.01 -0.01 870000 87 5750000 575 -6833567 -6832905 1522020 1522020 1330316 1330316 870000 87 5750000 575 -7025271 -7024609 1545617 1545617 1304225 1304225 870000 87 5750000 575 -7266663 -7266001 5750000 575 24425 25000 -42482 -42482 5750000 575 24425 -42482 -17482 750000 1915900 5750000 750000 2634541 -42482 10420 3067637 32350 -37500 211877 32062 -216069 25000 596740 100000 496740 25000 280671 25000 389108 669779 25000 169313 996740 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 1 — Organization and Business Operations</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Invest Green Acquisition Corporation (the “Company”) is a blank check company incorporated as a Cayman Islands exempted corporation on April 7, 2025. The Company was incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company has not selected any specific Business Combination target.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of June 30, 2026, the Company had not commenced any operations. All activity for the period from April 7, 2025 (inception) through June 30, 2026 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”) and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenue until after the completion of its initial Business Combination. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering (as defined below). The Company has selected December 31 as its fiscal year end.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The registration statement for the Company’s Initial Public Offering became effective on November 24, 2025. On November 26, 2025, the Company consummated the Initial Public Offering of 17,250,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the “Public Shares”), which included the full exercise by the underwriters of their over-allotment option in the amount of 2,250,000 Units, at $10.00 per Unit, generating gross proceeds of $172,500,000. Each Unit consists of one Class A ordinary share and one tenth (1/10) of one right (each, a “Public Right”).</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 870,000 units (the “Private Placement Units”) at a price of $5.00 per Private Placement Unit, in a private placement to the Company’s sponsor, IG SPAC Sponsor LLC (the “Sponsor”) and the underwriters, generating gross proceeds of $4,350,000. Of those 870,000 Private Placement Units, the Sponsor purchased 480,000 Private Placement Units, and the underwriters used a portion of their underwriting discount and commission and purchased 390,000 Private Placement Units. Each Private Placement Unit consists of one Class A ordinary share (each a “Private Placement Share”) and one-tenth (1/10) of one right (each a “Private Placement Right”).</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Transaction costs amounted to $11,007,737, which consisted of $3,450,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $657,737 of other offering costs.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Following the closing of the Initial Public Offering, on November 26, 2025, an amount of $172,500,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the Private Placement Units was placed in a U.S.-based trust account (the “Trust Account”), with Continental Stock Transfer and Trust Company (“CST”) acting as trustee. The funds may only be invested in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on the management team’s ongoing assessment of all factors related to the Company’s potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, the proceeds from the Initial Public Offering and the sale of the Private Placement Units will not be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of the Company’s Public Shares if the Company is unable to complete the initial Business Combination within 24 months from the closing of the Initial Public Offering or by such earlier liquidation date as the Company’s board of directors may approve (the “Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s Public Shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Company’s Public Shares if the Company has not consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company’s Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully complete a Business Combination. </span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company will provide the Company’s public shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, subject to the limitations.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Public Shares subject to redemption are recorded at redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.”</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company will have only the duration of the Completion Window to complete the initial Business Combination. However, if the Company is unable to complete its initial Business Combination within the Completion Window, the Company will as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less the amount of taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will constitute full and complete payment for the public shares and completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Sponsor, officers and directors entered into a letter agreement with the Company, pursuant to which they agreed to (i) waive their redemption rights with respect to their founder shares, Private Placement Shares and Public Shares in connection with the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their founder shares, Private Placement Shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares and Private Placement Shares if the Company fails to complete the initial Business Combination within the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions from assets outside the Trust Account; and (iv) vote any founder shares or Private Placement Shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market and privately negotiated transactions, aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted in favor of approving the Business Combination) in favor of the initial Business Combination.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company’s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement (except for the Company’s independent registered public accounting firm), reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Going Concern Consideration</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of June 30, 2026, the Company had $669,779 cash equivalents, working capital deficit of $395,793, and shareholders’ deficit of $7,266,001.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On February 17, 2026, the Company issued a $3,500,000 convertible promissory note, effective as of December 1, 2025 (the “Working Capital Note”), to the Sponsor. The Working Capital Note bears no interest and will become payable only upon the successful completion of the Company’s initial Business Combination. Upon the closing of the Business Combination, the Working Capital Note may be converted into units of the Company at a conversion price equal to $5.00 per unit (see Note 5).</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In December 2025 and January 2026, the Company received advances of $400,000 and $596,740 (among which, $100,000 was repaid to Sponsor in March 2026), respectively, from the Sponsor. These advances previously received were treated as a drawdown under the Working Capital Note. Up to the date the unaudited condensed financial statements were available to be issued, the total withdrawal under the Working Capital Note was $896,740.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In connection with the Company’s assessment of going concern considerations in accordance with FASB ASC 205-40, “Financial Statement Presentation — Going Concern,” the Company’s management has since reevaluated the Company’s liquidity and financial condition, and determined that the Company has sufficient funds to sustain operations for a reasonable period of time, which is considered to be one year from the date of the issuance of the unaudited condensed financial statements.</span></p> 2025-04-07 April 7, 2025 (inception) through June 30, 2026 17250000 2250000 10 172500000 1 870000 5 4350000 870000 480000 390000 1 11007737 3450000 6900000 657737 172500000 10 P185D P24M 1 0.80 0.50 100000 100000 10 10 669779 395793 -7266001 3500000 5 400000 596740 100000 896740 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 2 — Summary of Significant Accounting Policies</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Basis of Presentation</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2025, as filed with the SEC on March 31, 2026. The interim results for the three and six months ended June 30, 2026 and are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any future periods.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Emerging Growth Company Status</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> <span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The preparation of the unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;">Cash Equivalents</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash equivalents of $669,779 and $389,108, respectively, as of June 30, 2026 and December 31, 2025. The Company’s operating cash is automatically swept into institutional money market funds on a daily basis. Accordingly, as of June 30, 2026 and December 31, 2025, the Company did not have any cash, and all cash equivalents were held in money market funds. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Marketable Securities Held in Trust Account</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of June 30, 2026 and December 31, 2025, the assets held in the Trust Account, amounting to $176,163,459 and $173,095,822, respectively, were held in money market funds. The Company classified its money market funds as trading securities in accordance with ASC Topic 320, “Investments-Debt Securities.” Trading securities are presented on the condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities are included in income earned on marketable securities held in Trust Account in the accompanying unaudited condensed statements of operations.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Concentration of Credit Risk</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Offering Costs</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company complies with the requirements of FASB ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between Class A ordinary shares and Share Rights, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the Share Rights and then to Class A ordinary shares. Offering costs allocated to the Public Shares subject to possible redemption are charged to temporary equity, and offering costs allocated to the Public Rights and Private Placement Units are charged to shareholders’ deficit as the Public and Private Placement Rights, after management’s evaluation, are accounted for under equity treatment. Transaction costs amounted to $11,007,737, consisting of $3,450,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $657,737 of other offering costs.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Income Taxes</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounts for income taxes under FASB ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statements and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of June 30, 2026 and December 31, 2025, there were <span style="-sec-ix-hidden:fc_1694908336;"><span style="-sec-ix-hidden:fc_1399334259;">no</span></span> unrecognized tax benefits and <span style="-sec-ix-hidden:fc_481134335;"><span style="-sec-ix-hidden:fc_424969758;">no</span></span> amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Fair Value of Financial Instruments</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the condensed balance sheets, primarily due to their short-term nature. Marketable securities held in Trust Account are presented on the condensed balance sheets at fair value at the end of each reporting period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Share-Based Payment Arrangements</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounts for share awards in accordance with FASB ASC 718, “Compensation—Stock Compensation,” which requires that all equity awards be accounted for at their “fair value.” Fair value is measured on the grant date and is equal to the underlying value of the share.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Costs equal to these fair values are recognized ratably over the requisite service period based on the number of awards that are expected to vest, in the period of grant for awards that vest immediately and have no future service condition, or in the period the awards vest immediately after meeting a performance condition becomes probable (i.e., the occurrence of a Business Combination). For awards that vest over time, cumulative adjustments in later periods are recorded to the extent actual forfeitures differ from the Company’s initial estimates; previously recognized compensation cost is reversed if the service or performance conditions are not satisfied and the award is forfeited.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Derivative Financial Instruments</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with FASB ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the unaudited condensed statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the condensed balance sheets as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the condensed balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and will be accounted for as a liability pursuant to FASB ASC 480 if not fully exercised at the time of the Initial Public Offering. On November 26, 2025, the underwriters exercised their over-allotment option in full in the amount of 2,250,000 Units as part of the closing of the Initial Public Offering. As such, as of June 30, 2026 and December 31, 2025, <span style="-sec-ix-hidden:fc_984556137;"><span style="-sec-ix-hidden:fc_1269240097;">no</span></span> over-allotment option liability is recognized in the Company’s condensed balance sheets.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Share Rights</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounted for the Public and Private Placement Rights issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the Share Rights under equity treatment at their assigned values.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Net Income (Loss) per Ordinary Share</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of ordinary shares, which are referred to as redeemable Class A ordinary shares and non-redeemable Class A and Class B ordinary shares. Net income (loss) is shared pro rata between the two classes of ordinary shares. This presentation assumes a Business Combination as the most likely outcome. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average ordinary shares outstanding for the respective period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The calculation of diluted income (loss) per ordinary share does not consider the effect of the Rights issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement, since the Rights are contingently exercisable, and the contingencies have not yet been met. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following table reflects the calculation of basic and diluted net income (loss) per ordinary share:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Three Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Six Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Period from<span style="text-decoration:underline"><br/> </span>April 7, 2025 <span style="text-decoration:underline"><br/> </span>(Inception) Through <span style="text-decoration:underline"><br/> </span>June 30, 2025</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; text-align: center; width: 43%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in; font-style: italic;">Basic and diluted net income (loss) per ordinary share</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;">Numerator:</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Allocation of net income (loss)</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">942,517</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">361,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">1,903,889</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">730,652</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_522879782;">—</span></td> <td style="text-align: left;"> </td> <td style="font-weight: bold;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">(42,482</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: 0in; padding-left: 0in;">Denominator:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted weighted average shares outstanding</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1999065058;"><span style="-sec-ix-hidden:fc_2048316663;">—</span></span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,000,000</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted net income (loss) per ordinary share</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_292179039;"><span style="-sec-ix-hidden:fc_1718293009;">—</span></span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">(0.01</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;">)</td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Class A Ordinary Shares Subject to Possible Redemption</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with FASB ASC 480-10-S99, the Company classifies Public Shares subject to possible redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of June 30, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets. As of June 30, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 88%; text-align: left;">Gross proceeds</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">172,500,000</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Less:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Proceeds allocated to Public Rights</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(2,811,750</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Public Shares issuance costs</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(10,812,397</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">14,219,969</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">173,095,822</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,522,020</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, March 31, 2026</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">174,617,842</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,545,617</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt;">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 2.5pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">176,163,459</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Recent Accounting Pronouncements</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Basis of Presentation</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2025, as filed with the SEC on March 31, 2026. The interim results for the three and six months ended June 30, 2026 and are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any future periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Emerging Growth Company Status</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Use of Estimates</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The preparation of the unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-weight: bold;">Cash Equivalents</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash equivalents of $669,779 and $389,108, respectively, as of June 30, 2026 and December 31, 2025. The Company’s operating cash is automatically swept into institutional money market funds on a daily basis. Accordingly, as of June 30, 2026 and December 31, 2025, the Company did not have any cash, and all cash equivalents were held in money market funds. </p> 669779 389108 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Marketable Securities Held in Trust Account</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of June 30, 2026 and December 31, 2025, the assets held in the Trust Account, amounting to $176,163,459 and $173,095,822, respectively, were held in money market funds. The Company classified its money market funds as trading securities in accordance with ASC Topic 320, “Investments-Debt Securities.” Trading securities are presented on the condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities are included in income earned on marketable securities held in Trust Account in the accompanying unaudited condensed statements of operations.</span> </p> 176163459 173095822 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Concentration of Credit Risk</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</span> </p> 250000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Offering Costs</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company complies with the requirements of FASB ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between Class A ordinary shares and Share Rights, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the Share Rights and then to Class A ordinary shares. Offering costs allocated to the Public Shares subject to possible redemption are charged to temporary equity, and offering costs allocated to the Public Rights and Private Placement Units are charged to shareholders’ deficit as the Public and Private Placement Rights, after management’s evaluation, are accounted for under equity treatment. Transaction costs amounted to $11,007,737, consisting of $3,450,000 of cash underwriting fees, $6,900,000 of deferred underwriting fees, and $657,737 of other offering costs.</span> </p> 11007737 3450000 6900000 657737 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Income Taxes</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounts for income taxes under FASB ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statements and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of June 30, 2026 and December 31, 2025, there were <span style="-sec-ix-hidden:fc_1694908336;"><span style="-sec-ix-hidden:fc_1399334259;">no</span></span> unrecognized tax benefits and <span style="-sec-ix-hidden:fc_481134335;"><span style="-sec-ix-hidden:fc_424969758;">no</span></span> amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Fair Value of Financial Instruments</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the condensed balance sheets, primarily due to their short-term nature. Marketable securities held in Trust Account are presented on the condensed balance sheets at fair value at the end of each reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Share-Based Payment Arrangements</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounts for share awards in accordance with FASB ASC 718, “Compensation—Stock Compensation,” which requires that all equity awards be accounted for at their “fair value.” Fair value is measured on the grant date and is equal to the underlying value of the share.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Costs equal to these fair values are recognized ratably over the requisite service period based on the number of awards that are expected to vest, in the period of grant for awards that vest immediately and have no future service condition, or in the period the awards vest immediately after meeting a performance condition becomes probable (i.e., the occurrence of a Business Combination). For awards that vest over time, cumulative adjustments in later periods are recorded to the extent actual forfeitures differ from the Company’s initial estimates; previously recognized compensation cost is reversed if the service or performance conditions are not satisfied and the award is forfeited.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Derivative Financial Instruments</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with FASB ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the unaudited condensed statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the condensed balance sheets as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the condensed balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and will be accounted for as a liability pursuant to FASB ASC 480 if not fully exercised at the time of the Initial Public Offering. On November 26, 2025, the underwriters exercised their over-allotment option in full in the amount of 2,250,000 Units as part of the closing of the Initial Public Offering. As such, as of June 30, 2026 and December 31, 2025, <span style="-sec-ix-hidden:fc_984556137;"><span style="-sec-ix-hidden:fc_1269240097;">no</span></span> over-allotment option liability is recognized in the Company’s condensed balance sheets.</span> </p> 2250000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Share Rights</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounted for the Public and Private Placement Rights issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the Share Rights under equity treatment at their assigned values.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Net Income (Loss) per Ordinary Share</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of ordinary shares, which are referred to as redeemable Class A ordinary shares and non-redeemable Class A and Class B ordinary shares. Net income (loss) is shared pro rata between the two classes of ordinary shares. This presentation assumes a Business Combination as the most likely outcome. Net income (loss) per ordinary share is calculated by dividing the net income (loss) by the weighted average ordinary shares outstanding for the respective period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The calculation of diluted income (loss) per ordinary share does not consider the effect of the Rights issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement, since the Rights are contingently exercisable, and the contingencies have not yet been met. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following table reflects the calculation of basic and diluted net income (loss) per ordinary share:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Three Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Six Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Period from<span style="text-decoration:underline"><br/> </span>April 7, 2025 <span style="text-decoration:underline"><br/> </span>(Inception) Through <span style="text-decoration:underline"><br/> </span>June 30, 2025</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; text-align: center; width: 43%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in; font-style: italic;">Basic and diluted net income (loss) per ordinary share</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;">Numerator:</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Allocation of net income (loss)</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">942,517</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">361,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">1,903,889</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">730,652</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_522879782;">—</span></td> <td style="text-align: left;"> </td> <td style="font-weight: bold;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">(42,482</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: 0in; padding-left: 0in;">Denominator:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted weighted average shares outstanding</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1999065058;"><span style="-sec-ix-hidden:fc_2048316663;">—</span></span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,000,000</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted net income (loss) per ordinary share</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_292179039;"><span style="-sec-ix-hidden:fc_1718293009;">—</span></span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">(0.01</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;">)</td> </tr></tbody></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following table reflects the calculation of basic and diluted net income (loss) per ordinary share:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Three Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Six Months Ended<br/> June 30, 2026</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="5" style="white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold;">For the Period from<span style="text-decoration:underline"><br/> </span>April 7, 2025 <span style="text-decoration:underline"><br/> </span>(Inception) Through <span style="text-decoration:underline"><br/> </span>June 30, 2025</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; text-align: center; width: 43%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; width: 8%; font-weight: bold; text-align: center;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Redeemable</td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> <td style="white-space: nowrap; text-align: center; width: 0.5%; font-weight: bold;"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; width: 8%;">Non-Redeemable<br/> Class A</td> <td style="white-space: nowrap; text-align: center; width: 0.5%;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="white-space: nowrap; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">Class A</td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> <td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center;">And Class B</td> <td style="white-space: nowrap; padding-bottom: 1.5pt; text-align: center;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in; font-style: italic;">Basic and diluted net income (loss) per ordinary share</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: -0.125in; padding-left: 0.125in;">Numerator:</td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right;"> </td> <td> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in;">Allocation of net income (loss)</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">942,517</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">361,708</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">1,903,889</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">730,652</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_522879782;">—</span></td> <td style="text-align: left;"> </td> <td style="font-weight: bold;"> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">(42,482</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-indent: 0in; padding-left: 0in;">Denominator:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted weighted average shares outstanding</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">17,250,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,620,000</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"><span style="-sec-ix-hidden:fc_1999065058;"><span style="-sec-ix-hidden:fc_2048316663;">—</span></span></td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,000,000</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in;">Basic and diluted net income (loss) per ordinary share</td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.05</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">0.11</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;"> </td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; text-align: right;"><span style="-sec-ix-hidden:fc_292179039;"><span style="-sec-ix-hidden:fc_1718293009;">—</span></span></td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right;">(0.01</td> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left;">)</td> </tr></tbody></table> 942517 361708 1903889 730652 -42482 17250000 17250000 6620000 6620000 17250000 17250000 6620000 6620000 5000000 5000000 0.05 0.05 0.05 0.05 0.11 0.11 0.11 0.11 0.01 0.01 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Class A Ordinary Shares Subject to Possible Redemption</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with FASB ASC 480-10-S99, the Company classifies Public Shares subject to possible redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of June 30, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets. As of June 30, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 88%; text-align: left;">Gross proceeds</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">172,500,000</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Less:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Proceeds allocated to Public Rights</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(2,811,750</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Public Shares issuance costs</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(10,812,397</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">14,219,969</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">173,095,822</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,522,020</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, March 31, 2026</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">174,617,842</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,545,617</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt;">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 2.5pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">176,163,459</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> As of June 30, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 88%; text-align: left;">Gross proceeds</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">172,500,000</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Less:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;">Proceeds allocated to Public Rights</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(2,811,750</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Public Shares issuance costs</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">(10,812,397</td> <td style="text-align: left;">)</td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">14,219,969</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">173,095,822</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,522,020</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="font-weight: bold; text-align: left;">Class A ordinary shares subject to possible redemption, March 31, 2026</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold; text-align: left;"> </td> <td style="font-weight: bold; text-align: right;">174,617,842</td> <td style="font-weight: bold; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"><td>Plus:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; padding-bottom: 1.5pt;">Accretion for Class A ordinary shares to redemption amount</td> <td style="padding-bottom: 1.5pt;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left;"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right;">1,545,617</td> <td style="padding-bottom: 1.5pt; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt;">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="font-weight: bold; padding-bottom: 2.5pt;"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left;">$</td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right;">176,163,459</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"> </td> </tr></tbody></table> 172500000 2811750 10812397 14219969 173095822 1522020 174617842 1545617 176163459 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Recent Accounting Pronouncements</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In November 2024, the FASB issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 3 — Initial Public Offering</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Pursuant to the Initial Public Offering on November 26, 2025, the Company sold 17,250,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount of 2,250,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one Public Right. Each Public Right entitles the holder thereof to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial Business Combination.</span> </p> 17250000 2250000 10 1 one-tenth (1/10) of one Class A ordinary share <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 4 — Private Placement</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Simultaneously with the closing of the Initial Public Offering, the Sponsor and underwriters purchased an aggregate of 870,000 Private Placement Units, at a price of $5.00 per Private Placement Unit, for an aggregate purchase price of $4,350,000, from the Company in a private placement. Of those 870,000 Private Placement Units, the Sponsor purchased 480,000 Private Placement Units and the underwriters used a portion of their underwriting discount and commission and purchased 390,000 Private Placement Units. Each Private Placement Unit consists of one Private Placement Share and one Private Placement Right to receive one-tenth (1/10) of a Class A ordinary share upon the consummation of an initial Business Combination.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Private Placement Units are identical to the Public Units sold in the Initial Public Offering except that, so long as they are held by the Sponsor or their permitted transferees, the Private Placement Units (including their component securities) (i) may not (including the Class A ordinary shares issuable upon conversion of these Private Placement Rights), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial Business Combination and (ii) were entitled to registration rights.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Sponsor, officers and directors entered into a letter agreement with the Company, pursuant to which they agreed to (i) waive their redemption rights with respect to their founder shares, Private Placement Shares and Public Shares in connection with the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their founder shares, Private Placement Shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares and Private Placement Shares if the Company fails to complete the initial Business Combination within the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions from assets outside the Trust Account; and (iv) vote any founder shares or Private Placement Shares held by them and any Public Shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions, aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted in favor of approving the Business Combination) in favor of the initial Business Combination.</span> </p> 870000 5 4350000 870000 480000 390000 one Private Placement Share and one Private Placement Right to receive one-tenth (1/10) of a Class A ordinary share P30D 1 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 5 — Related Party Transactions</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Founder Shares</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On June 4, 2025, the Sponsor made a capital contribution of $25,000, or approximately $0.003 per share, for which the Company issued 7,665,900 Class B ordinary shares (the “Founder Shares”) to the Sponsor. On September 17, 2025, the Sponsor surrendered 1,915,900 Founder Shares for <span style="-sec-ix-hidden:fc_1298274076;">no</span> consideration, resulting in the Sponsor holding an aggregate of 5,750,000 Founder Shares (up to 750,000 shares of which were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised). All share and per-share amounts have been retrospectively presented. On November 26, 2025, the underwriters exercised their over-allotment option in full and as a result, the 750,000 Founder Shares are no longer subject to forfeiture.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On November 15, 2025, the Sponsor transferred a total of 422,000 membership interests in the Sponsor representing interests in 422,000 Founder Shares to the four independent directors. The transfer of the membership interests to independent directors are in the scope of FASB ASC Topic 718, “Compensation-Stock Compensation” (“FASB ASC 718”). Under FASB ASC 718, stock-based compensation associated with equity-classified awards is measured at fair value upon the assignment date. The fair value of the membership interests in 422,000 Founder Shares granted to the Company’s independent directors on the grant date has an aggregate total of $746,940, or $1.77 per share. The transfer of membership interests has no service restrictions; thus, the total fair value of $746,940 was recorded as compensation expense on the grant date. The third-party valuation firm valued the membership interests in the Founder Shares as of November 15, 2025 using back solve approach and classified it as Level 3 at the measurement date due to the use of unobservable inputs including the probability of a Business Combination and other risk factors. The market adjustment was 18.0% (the market adjustment reflects additional risk, which may include the likelihood of Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of share price prior to beginning of exercise period); the implied Class A share price was $9.82; Share Rights fraction was 1/10; and pre-adjusted value per share right was $0.98.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company’s initial shareholders agreed not to transfer, assign or sell any of their Founder Shares and any Class A ordinary shares issued upon conversion thereof until the earlier to occur of (i) six months after the completion of the initial Business Combination or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. Any permitted transferees will be subject to the same restrictions and other agreements of the Company’s initial shareholders with respect to any Founder Shares (the “Lock-up”). Notwithstanding the foregoing, if (1) the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the Company’s shareholders having the right to exchange their shares for cash, securities or other property, the Founder Shares will be released from the Lock-up.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Promissory Note — Related Party</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On June 4, 2025, the Sponsor agreed to loan the Company an aggregate of up to $500,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “June 2025 Promissory Note”). The loan is non-interest bearing and unsecured. The June 2025 Promissory Note is payable on the earlier of December 31, 2025 or the date on which the Company consummates the Initial Public Offering of its securities. On November 26, 2025, the Company had borrowed $256,332, which has been paid in full by the Company at the closing of the Initial Public Offering and borrowings under the June 2025 Promissory Note are no longer available.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Advances from Sponsor</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In December 2025 and January 2026, the Company received advances of $400,000 and $596,740, respectively, from the Sponsor for working capital purposes. The $996,740 of advances were subsequently reclassified as a drawdown under the Working Capital Note as described below.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Working Capital Loans</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">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 (the “Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $3,500,000 of such Working Capital Loans may be convertible into Private Placement Units of the post Business Combination entity at a price of $5.00 per Private Placement Unit at the option of the lender. As of June 30, 2026 and December 31, 2025, <span style="-sec-ix-hidden:fc_10492948;"><span style="-sec-ix-hidden:fc_392502550;">no</span></span> such Working Capital Loans were outstanding.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On February 17, 2026, the Company and the Sponsor executed a $3,500,000 convertible promissory note, the Working Capital Note. The Working Capital Note bears no interest and will become payable only upon the successful completion of the Company’s initial Business Combination. Upon the closing of the Business Combination, the Working Capital Note may be converted into units (the “Working Capital Unit”) of the Company at a conversion price equal to $5.00 per unit. The units issued in connection with such conversion shall be identical to the Private Placement Unit. Each Working Capital Unit consists of one Class A ordinary share, and one right (a “Working Capital Right”), with each Working Capital Right entitling holder thereof to receive one-tenth of one Class A ordinary share upon the completion of an initial Business Combination. The $996,740 of advances previously received from the Sponsor were reclassified as a drawdown under the Working Capital Note.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In March 2026, $100,000 was repaid to the Sponsor, resulting in the outstanding balance of $896,740 as of June 30, 2026.</span> </p> 25000 0.003 7665900 1915900 5750000 750000 750000 422000 422000 422000 746940 1.77 746940 0.18 9.82 0.98 12 P20D P30D P150D 500000 256332 400000 596740 996740 3500000 5 3500000 5 996740 100000 896740 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 6 — Commitments and Contingencies</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Risks and Uncertainties</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company’s ability to complete an initial Business Combination may be adversely affected by various factors, many of which are beyond the Company’s control. The Company’s ability to consummate an initial Business Combination could be impacted by, among other things, changes in laws or regulations, downturns in the financial markets or in economic conditions, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions, declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts in Ukraine and the Middle East. The Company cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which they may negatively impact the Company’s ability to complete an initial Business Combination.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Registration Rights</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The holders of the Founder Shares, Private Placement Units and the Class A ordinary shares underlying such Private Placement Units and Private Placement Rights and units that may be issued upon conversion of the Working Capital Loans will have registration rights to require the Company to register a sale of any of the Company’s securities held by them and any other securities of the Company acquired by them prior to the consummation of the initial Business Combination pursuant to a registration rights agreement to be signed on the effective date of the Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, so that the Company registers such securities. In addition, the holders have certain piggyback registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination. The underwriters and/or their designees may not exercise their demand and piggyback registration rights after five and seven years after the commencement of the Initial Public Offering and may not exercise their demand rights on more than one occasion. The Company will bear the expenses incurred in connection with the filing of any such registration statements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"><i> </i></span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Underwriters’ Agreement</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company granted the underwriters a 45-day option from the date of the Initial Public Offering to purchase up to an additional 2,250,000 Units to cover over-allotments, if any. On November 26, 2025, the underwriters exercised their over-allotment option in full as part of the closing of the Initial Public Offering.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The underwriters were entitled to a cash underwriting discount of $0.20 per Unit, or $3,450,000 in the aggregate. Of this amount, (i) $0.10 per Unit, or $1,500,000 in the aggregate was paid to the underwriters in cash and (ii) $0.10 per Unit was used by the underwriters to purchase Private Placement Units, or $1,950,000 in the aggregate.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Additionally, the underwriters were entitled to a deferred underwriting discount of $0.40 per Unit, or $6,900,000 in the aggregate payable to the underwriters for deferred underwriting commissions on amounts remaining in the Trust Account after all redemptions by public shareholders have been met. The deferred underwriting discount will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes its Initial Business Combination.</span> </p> P45D 2250000 0.2 3450000 0.1 1500000 0.1 1950000 0.4 6900000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 7 — Shareholders’ Deficit</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Preference Shares</span> — The Company is authorized to issue a total of 5,000,000 preference shares with par value of $0.0001 per share. At June 30, 2026 and December 31, 2025, there were <span style="-sec-ix-hidden:fc_790482927;"><span style="-sec-ix-hidden:fc_1942236604;"><span style="-sec-ix-hidden:fc_715634705;"><span style="-sec-ix-hidden:fc_1632491998;">no</span></span></span></span> preference shares issued or outstanding.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Class A Ordinary Shares<i> </i></span>— The Company is authorized to issue a total of 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. At June 30, 2026 and December 31, 2025, there were 870,000 Class A ordinary shares issued and outstanding, excluding 17,250,000 Class A ordinary shares subject to possible redemption.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;"> </span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Class B Ordinary Shares<i> </i></span>— The Company is authorized to issue a total of 50,000,000 Class B ordinary shares with par value of $0.0001 per share. On June 4, 2025, the Company issued 7,665,900 Class B ordinary shares to the Sponsor for $25,000, or approximately $0.003 per share. On September 17, 2025, the Sponsor surrendered 1,915,900 Founder Shares for no consideration, resulting in the Sponsor holding an aggregate of 5,750,000 Founder Shares (up to 750,000 shares of which were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised). All share and per-share amounts have been retrospectively presented. On November 26, 2025, the underwriters exercised their over-allotment option in full and as a result, the 750,000 Founder Shares are no longer subject to forfeiture. At June 30, 2026 and December 31, 2025, there were 5,750,000 Class B ordinary shares issued and outstanding.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Founder Shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess of the amounts sold in the Initial Public Offering and related to or in connection with the closing of the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, approximately 25% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of the Initial Public Offering (excluding the Class A ordinary shares underlying the Private Placement Units), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business Combination and any private placement-equivalent shares issued to the Sponsor or any of its affiliates or to the Company’s officers or directors upon conversion of Working Capital Loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with charter amendments prior to an initial Business Combination or an initial Business Combination; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Holders of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain actions requires a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the Company’s amended and restated memorandum and articles of association, such actions include amending the amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following the Company’s initial Business Combination, the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). Holders of the Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions of the amended and restated memorandum and articles of association may only be amended if approved by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Share Rights</span> — Except in cases where the Company is not the surviving company in a Business Combination, each holder of a right will automatically receive one-tenth (1/10) of one ordinary share upon consummation of the initial Business Combination. The Company will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion of the initial Business Combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of one ordinary share underlying each right upon consummation of the Business Combination. If the Company is unable to complete the initial Business Combination within the required time period and the Company will redeem the Public Shares for the funds held in the Trust Account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.</span></p> 5000000 5000000 0.0001 0.0001 500000000 500000000 0.0001 0.0001 870000 870000 870000 870000 17250000 50000000 50000000 0.0001 0.0001 7665900 25000 0.003 1915900 5750000 750000 750000 5750000 5750000 5750000 5750000 one-for-one basis 0.25 one-for-one basis one 0.50 0.90 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 8 — Segment Information</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">FASB ASC Topic 280, “Segment Reporting,” establishes standards for companies to report, in their financial statements, information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company’s CODM has been identified as the <span style="-sec-ix-hidden:fc_391111683;">Chief Executive Officer</span>, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has <span style="-sec-ix-hidden:fc_476621095;">one</span> reportable segment.</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, CODM reviews several key metrics, which include the following:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">December 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Cash equivalents</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">669,779</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">        389,108</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Prepaid expenses</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">120,425</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">88,075</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Marketable securities held in Trust Account</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">176,163,459</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">173,095,822</td> <td style="text-align: left;"> </td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Three Months Ended <br/> June 30,</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Six Months Ended <br/> June 30,</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Period from <br/> April 7, 2025<br/> (Inception) Through<br/> June 30,</td> <td style="font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%; text-align: left; text-indent: -8.1pt; padding-left: 8.1pt;">General and administrative expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">245,904</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">440,910</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">42,482</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Income earned on marketable securities held in Trust Account</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">         1,545,617</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">         3,067,637</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">                  <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="-sec-ix-hidden:fc_1711277713;">―</span></span></td> <td style="text-align: left;"> </td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accounting policies used to measure the net income or loss of the segment are the same as those described in the summary of significant accounting policies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews general and administrative expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative expenses, as reported on the unaudited condensed statements of operations, are the significant segment expenses provided to CODM on a regular basis.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The CODM reviews income earned on marketable securities held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">All other segment items included in net income or loss are reported on the unaudited condensed statements of operations and described within their respective disclosures.</span></p> The Company’s CODM has been identified as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, CODM reviews several key metrics, which include the following:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">December 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 76%; text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Cash equivalents</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">669,779</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">        389,108</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Prepaid expenses</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">120,425</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">88,075</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left; text-indent: -7.25pt; padding-left: 7.25pt;">Marketable securities held in Trust Account</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">176,163,459</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">173,095,822</td> <td style="text-align: left;"> </td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Three Months Ended <br/> June 30,</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Six Months Ended <br/> June 30,</td> <td style="font-weight: bold;"> </td> <td style="font-weight: bold;"> </td> <td colspan="2" style="font-weight: bold; text-align: center;">For the<br/> Period from <br/> April 7, 2025<br/> (Inception) Through<br/> June 30,</td> <td style="font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%; text-align: left; text-indent: -8.1pt; padding-left: 8.1pt;">General and administrative expenses</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">245,904</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">440,910</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">42,482</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td style="text-align: left;">Income earned on marketable securities held in Trust Account</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">         1,545,617</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">         3,067,637</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">                  <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="-sec-ix-hidden:fc_1711277713;">―</span></span></td> <td style="text-align: left;"> </td> </tr></tbody></table> 669779 389108 120425 88075 176163459 173095822 245904 440910 42482 1545617 3067637 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 9 — Fair Value Measurements</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level 1:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.</span></td> </tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> </tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level 2:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.</span></td> </tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> </tr><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level 3:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.</span></td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The table presents information about the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:   </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Level</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">December 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: justify;">Assets:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%; text-align: justify;">Marketable securities held in Trust Account</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: center;">1</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">176,163,459</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">173,095,822</td> <td style="width: 1%; text-align: left;"> </td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The fair value of the Public Rights issued in the Initial Public Offering is $2,811,750, or $0.163 per Public Right. The fair value of the Public Rights was determined using a back solve approach to separate the publicly traded Unit price into its constituent securities (Class A ordinary shares and Share Rights). The Public Rights issued in the Initial Public Offering have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the “Level 3” valuation of the Public Rights issued in the Initial Public Offering:</span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">November 26,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 88%;">Unit price</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">10.01</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Share price</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">9.85</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Share Rights fraction</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1/10</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Pre-adjusted value per Right</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">0.98</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Market adjustment ⁽¹⁾</span></td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16.6</td> <td style="text-align: left;">%</td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"></span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Market adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of a Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of share price prior to the beginning of the exercise period. The adjustment is determined by comparing traded Public Right prices to simulated model outputs. The market adjustment was determined by calibrating traded Public Rights prices as of the valuation dates.</span></td> </tr></tbody> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The table presents information about the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:   </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">Level</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">June 30,<br/> 2026</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">December 31,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"><td style="text-align: justify;">Assets:</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 64%; text-align: justify;">Marketable securities held in Trust Account</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 9%; text-align: center;">1</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">176,163,459</td> <td style="width: 1%; text-align: left;"> </td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">173,095,822</td> <td style="width: 1%; text-align: left;"> </td> </tr></tbody></table> 176163459 173095822 2811750 0.163 The following table presents the quantitative information regarding market assumptions used in the “Level 3” valuation of the Public Rights issued in the Initial Public Offering:<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif;"> <tbody><tr style="vertical-align: bottom;"><td style="text-align: center;"> </td> <td style="font-weight: bold; padding-bottom: 1.5pt;"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid;">November 26,<br/> 2025</td> <td style="padding-bottom: 1.5pt; font-weight: bold;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="width: 88%;">Unit price</td> <td style="width: 1%;"> </td> <td style="width: 1%; text-align: left;">$</td> <td style="width: 9%; text-align: right;">10.01</td> <td style="width: 1%; text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Share price</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">9.85</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td>Share Rights fraction</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">1/10</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: White;"> <td>Pre-adjusted value per Right</td> <td> </td> <td style="text-align: left;">$</td> <td style="text-align: right;">0.98</td> <td style="text-align: left;"> </td> </tr><tr style="vertical-align: bottom; background-color: rgb(204,238,255);"> <td style="text-align: left;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Market adjustment ⁽¹⁾</span></td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">16.6</td> <td style="text-align: left;">%</td> </tr></tbody></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"></span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"> <tbody><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top;"><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Market adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of a Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of share price prior to the beginning of the exercise period. The adjustment is determined by comparing traded Public Right prices to simulated model outputs. The market adjustment was determined by calibrating traded Public Rights prices as of the valuation dates.</span></td> </tr></tbody> </table> 10.01 9.85 1/10 0.98 16.6 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><span style="font-weight: bold;">Note 10 — Subsequent Events</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company evaluated subsequent events and transactions that occurred after the condensed balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.</span></p> false false false false Includes up to 750,000 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (Note 7). On September 17, 2025, the Sponsor surrendered 1,915,900 Founder Shares for no consideration, resulting in the Sponsor holding an aggregate of 5,750,000 Founder Shares (up to 750,000 Founder Shares of which are subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised). All share and per-share amounts have been retrospectively presented (Note 5). Market adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of a Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of share price prior to the beginning of the exercise period. The adjustment is determined by comparing traded Public Right prices to simulated model outputs. The market adjustment was determined by calibrating traded Public Rights prices as of the valuation dates.