v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
FAIR VALUE MEASUREMENTS  
Schedule of key inputs in initial measurement of fair value

The key inputs into the Black-Scholes model were as follows at initial measurement of the over-allotment option for February 20, 2026:

Volatility

  ​ ​ ​

2.51

%

Expected term (years)

 

0.12

Risk-free rate

 

3.73

%

Exercise price

$

10.00

Fair value of over-allotment unit

$

0.06

  ​ ​ ​

February 20, 

 

2026

and

February 25, 2026

 

Underlying stock price

$

9.84

Exercise price

$

11.50

Volatility

 

3.50

%

Probability of de-SPAC and market adjustment

 

30.0

%

Risk-free rate

 

3.81

%

Warrant term (years)

 

7.00

Schedule of changes in fair value of Level 3 over-allotment option liability

Fair value as of January 1, 2026

  ​ ​ ​

$

Initial Fair Value at February 20, 2026

 

140,400

Partial exercise of over-allotment option on February 25, 2026

 

(90,600)

Change in fair value

 

200

Fair value as of June 30, 2026

50,000

Change in fair value due to the expiration of the underwriters’ over-allotment option on April 4, 2026

(50,000)

Fair value as of June 30, 2026

$

Schedule of assets that are measured at fair value on a recurring basis

Description

  ​ ​ ​

Level

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Assets:

 

  ​

 

  ​

 

  ​

Marketable securities held in Trust Account – U.S. Treasury Securities Money Market Fund

 

1

$

166,594,389

$