v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities measured at fair value on a recurring basis

  ​

June 30, 

December 31, 

Description

  ​ ​ ​

Level

  ​ ​ ​

2026

  ​ ​ ​

2025

Assets:

 

  ​

 

  ​

 

  ​

Investments held in Trust Account

 

1

$

281,656,886

$

276,768,182

Liabilities:

 

  ​

 

 

  ​

Derivative liability – Public Warrants

 

3

$

4,416,000

$

3,551,129

Derivative liability – Private Warrants

 

3

 

31,200

 

25,139

Schedule of quantitative information regarding market assumptions

June 30, 2026

 

Private

 

Public

Placement

 

  ​ ​ ​

Warrants

  ​ ​ ​

Warrants

Implied share price

$

10.06

$

10.06

Exercise price

$

11.50

$

11.50

Estimated volatility

 

5.00

%  

 

5.00

%

Remaining term (years)

 

6.43

 

6.43

Risk-free rate (continuous)

 

4.18

%  

 

4.18

%

Redemption price

$

18.00

$

18.00

Implied market adjustment

 

35.4

%  

 

35.4

%

December 31, 2025

 

Private

 

Public

Placement

 

  ​ ​ ​

Warrants

  ​ ​ ​

Warrants

 

Implied share price

$

9.93

$

9.93

Exercise price

$

11.50

$

11.50

Estimated volatility

 

5.00

%  

 

5.00

%

Remaining term (years)

 

6.93

 

6.93

Risk-free rate (continuous)

 

3.86

%  

 

3.86

%

Redemption price

$

18.00

$

18.00

Implied market adjustment

 

31.00

%  

 

31.00

%

Schedule of changes in the fair value of Level 3 warrant liabilities

Private

Public

Placement

Warrant

  ​ ​ ​

Warrants

  ​ ​ ​

Warrants

  ​ ​ ​

Liabilities

Fair value as of December 31, 2025

$

3,551,129

$

25,139

$

3,576,268

Change in fair value of warrant liabilities

 

349,671

 

2,479

 

352,150

Fair value as of March 31, 2026

$

3,900,800

$

27,618

$

3,928,418

Change in fair value of warrant liabilities

515,200

3,582

518,782

Fair value as of June 30, 2026

$

4,416,000

$

31,200

$

4,447,200

Private

Public

Placement

Warrant

Warrants

  ​ ​ ​

Warrants

  ​ ​ ​

Liabilities

Warrant liabilities at December 4, 2025 (initial Public Offering)

$

$

$

Issuance of Public and Private Warrants

 

3,652,400

 

25,935

 

3,678,335

Change in fair value of warrant liabilities

 

(101,271)

 

(796)

 

(102,067)

Fair value as of December 31, 2025

$

3,551,129

$

25,139

$

3,576,268