Note 5 — Related Party Transactions

Founder Shares

On February 28, 2026, the Company entered into a subscription agreement with the Sponsor, which was amended pursuant to a First Amendment to Subscription Agreement dated May 28, 2026, for the purchase of 3,700,125 ordinary shares for an aggregated consideration of $25,000, or approximately $0.0068 per ordinary share. The Founder Shares included up to 482,625 shares subject to forfeiture to the extent that the underwriters’ over-allotment is not exercised in full, so that the Sponsor will beneficially own 30% of the Company’s issued and outstanding shares after the IPO (not including the shares to be issued to the underwriter upon the consummation of the IPO or the shares underlying the private placement units and assuming it does not purchase any Public Shares in the IPO and excluding the Private Placement Units).

As of June 30, 2026, there were 3,700,125 Founder Shares issued and outstanding; no Founder Shares were subject to forfeiture as a result of the underwriter’s full exercise of its over-allotment option on June 26, 2026.

The Initial Shareholders have agreed, subject to certain limited exceptions, not to transfer, assign or sell any Founder Shares until the earlier of: (i) six months after the completion of the Company’s initial Business Combination, or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after its initial Business Combination that results in all public shareholders having the right to exchange their ordinary shares for cash, securities or other property. The Initial Shareholders have also agreed not to transfer any ownership interest in the private placement units, except to permitted transferees, until at least 30 days following the completion of the initial Business Combination.

Advance — Related Party

Prior to the closing of the IPO, the Company provided $185,000 to the Sponsor as funding for the purchase of Directors and Officers Liability insurance. As of June 30, 2026, the Sponsor has not purchased Directors and Officers Liability insurance, as such, $185,000 was outstanding and recorded as Advance — Related Party. The Sponsor plans to pay the D&O policy premium in August 2026.

Promissory Note — Related Party

On February 28, 2026, the Sponsor agreed to loan the Company up to $200,000 to be used for transaction costs incurred in connection with the IPO (the “Promissory Note”). The note was unsecured, non-interest bearing and due upon the closing of the IPO. The outstanding balance was settled upon the closing of the IPO out of the offering proceeds not held in the Trust Account on June 26, 2026. As of June 30, 2026 and March 31, 2026, no amount was outstanding under the Promissory Note.

Due to Related Party

The Sponsor paid $19,296 of the Company’s SEC registration filing fee on the Company’s behalf. This amount is non-interest bearing, unsecured and due on demand. As of June 30, 2026, $19,296 was outstanding under this arrangement and recorded as Due to related party.

Working Capital Loans

In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor, the Company’s officers and directors, or their affiliates or designees may, but are not obligated to, loan the Company funds from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. If the Company completes the initial Business Combination, it will repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such working capital loans (“Working Capital Loans”) may be convertible into private placement units, at a price of $10.00 per unit at the option of the lender, upon consummation of its initial Business Combination. The units would be identical to the Private Placement Units.

As of June 30, 2026 and March 31, 2026, the Company had no borrowings under the Working Capital Loans.

Administrative Services Agreement

The Company entered into an Administrative Services Agreement with the Sponsor on June 24, 2026, commencing on June 24, 2026, the effective date of the registration statement for the IPO, through the earlier of the consummation of the Company’s initial Business Combination or the Company’s liquidation. Pursuant to the agreement, the Company agreed to pay the Sponsor $15,000 per month for office space and administrative and support services. As of June 30, 2026, the Company incurred $3,452 administrative service fees and recorded a prepayment of $70,800 as part of its prepaid expenses on the unaudited condensed balance sheet.