v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Measurements [Abstract]  
FAIR VALUE MEASUREMENTS

NOTE 9. FAIR VALUE MEASUREMENTS 

 

“Fair value” is defined as the price that would be received for sale of an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

 

  ● “Level 1”, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

 

  ● “Level 2”, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

  

  ● “Level 3”, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

 

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

 

The following 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 inputs that the Company utilized to determine such fair value:

 

    Level     June 30,
2026		     December 31,
2025		  
Assets:                  
Cash and marketable securities held in Trust Account     1     $ 174,350,350     $ —  

 

The assets held in the Trust Account were invested in a money market fund that invests solely in U.S. Treasury Securities and are measured at fair value using quoted prices in an active market, and are therefore classified within Level 1 of the fair value hierarchy. There were no liabilities measured at fair value on a recurring basis as of June 30, 2026 or December 31, 2025, and there were no transfers between levels of the fair value hierarchy during the three and six months ended June 30, 2026.

 

The fair value of the Public Rights issued in the Initial Public Offering is $3,967,500, or $0.23 per Public Right. The Public Rights issued in the Initial Public Offering have been classified within shareholders’ (deficit) equity 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:

 

    March 12,
2026		  
Expected term to Business Combination (years)     2.0  
Probability of Business Combination and instrument-specific market adjustment     12.0 %
Risk-free rate (continuous)     3.73 %
Implied Class A Ordinary Share price   $ 9.77