v3.26.1
SUBSEQUENT EVENTS
 6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 — SUBSEQUENT EVENTS

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based on the review, management identified the following subsequent events that require disclosure in the financial statements:

 

  ● On July 2, 2026, the Company received a written notice (the “2026 Notice 4”) from the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (the “Nasdaq”) that the Panel has determined to delist the Company’s securities from Nasdaq (the “Delisting Determination”) due to the Company’s failure to complete its business combination with Oabay on or before June 19, 2026. Accordingly, the Panel suspended trading of the Company’s securities from Nasdaq, effective as of the open of trading on July 7, 2026, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration on Nasdaq. On July 17, 2026, the Company submitted a written Request for Review of Hearings Panel Decision and again requested that Nasdaq grant a limited extension of the business combination deadline to December 19, 2026. Nasdaq confirmed receipt of the request on July 20, 2026, and on July 31, 2026, the Company submitted a Memorandum Appealing Hearings Panel Decision to Nasdaq in support of the request.
     
  ● On July 14, 2026, the Company deposited $50,000 into the Company’s trust account to extend the period of time it has to consummate its initial business combination by one month from July 19, 2026 to August 19, 2026. The Extension is the second of up to six extensions permitted under the Second Amended and Restated Articles of Association, as amended, of the Company currently in effect.