v3.26.1
Condensed Statements of Cash Flows (Unaudited)
 6 Months Ended
Jun. 30, 2026
USD ($)
Cash Flows from Operating Activities:  
Net income $ 1,782,420
Adjustments to reconcile net income to net cash used in operating activities:  
Payment of general and administrative costs through promissory note – related party 58,720
Interest earned on marketable securities held in Trust Account (2,243,359)
Changes in operating assets and liabilities:  
Prepaid expenses (52,368)
Short term prepaid insurance (132,200)
Long term prepaid insurance (110,167)
Accrued expenses 269,543
Net cash used in operating activities (427,411)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (402,500,000)
Net cash used in investing activities (402,500,000)
Cash Flows from Financing Activities:  
Proceeds from issuance of Class B ordinary shares to Sponsor 25,000
Proceeds from sale of GRAIL securities, net of underwriting discounts paid 394,450,000
Proceeds from sale of Private Placement GRAIL securities 9,050,000
Underwriters’ reimbursement 1,000,000
Repayment of promissory note – related party (293,149)
Payment of offering costs (65,499)
Net cash provided by financing activities 404,166,352
Net Change in Cash 1,238,941
Cash – Beginning of period
Cash – End of period 1,238,941
Non-Cash investing and financing activities:  
Offering costs included in accrued offering costs 732,701
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares 25,000
Offering costs paid via prepayment 15,361
Deferred offering costs paid by related party 214,429
Prepaid expenses paid by Sponsor through the promissory note – related party 20,000
Deferred underwriting fee payable $ 14,087,500