NOTE 3 — INITIAL PUBLIC OFFERING

On February 27, 2026, the Company consummated its Initial Public Offering of 20,000,000 Public Units. An additional 632,000 Option Units were sold to Santander on March 27, 2026, upon Santander’s election to partially exercise the Over-Allotment Option. The Public Units, including the Option Units, were sold at a price of $10.00 per Public Unit, generating gross proceeds of $206,320,000. Each Public Unit consists of one Public Share and one Public Right, which grants the holder thereof the right to receive one tenth (1/10) of one Class A Ordinary Share upon the consummation of an initial Business Combination.