v3.26.1
Fair Value Measurements
3 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Fair Value Measurements

Note 9 — Fair Value Measurements

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.

Non-Recurring Fair Value Measurements

Upon consummating the Initial Public Offering on June 17, 2026, the Public Warrants were valued using a Black-Scholes Simulation Model, resulting in a fair value of $3,658,051. The Public Warrants 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 Warrants:

June 17,

 

  ​ ​ ​

2026

Implied ordinary share price

$

9.90

Exercise price

$

11.50

Simulation term (years)

 

7.00

Risk-free rate

 

4.28

%

Estimated implied volatility

 

2.36

%

Market adjustment

 

35.69

%

Calculated value per warrant

$

0.49