v3.26.1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2026
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of Common Stock Subject to Possible Redemption

Common stock subject to possible redemption, December 31, 2024

 

$904,670

 

Less:

 

 

 

 

Redemption of common stock in connection with Trust Extension

 

 

(681,347 )

Add:

 

 

 

 

Accretion of carrying value to redemption value

 

 

28,060

 

Clawbacked income tax to prior redemption of common stock

 

 

344,506

 

Common stock subject to possible redemption, December 31, 2025

 

$595,889

 

Less:

 

 

 

 

Redemption of common stock

 

 

 

Add:

 

 

 

 

Accretion of carrying value to redemption value

 

 

4,231

 

Common stock subject to possible redemption, June 30, 2026

 

$600,120

 

Schedule of Basic and Diluted Net Income (Loss) Per Share

 

 

Three Months Ended

June 30,

 

 

 

2026

 

 

2025

 

Common stock subject to possible redemption

 

 

 

 

 

 

Numerator: Earnings allocable to common stock subject to redemption

 

 

 

 

 

 

Interest earned on marketable securities held in Trust Account, net of taxes

 

$2,643

 

 

$8,350

 

Net income attributable to common stock subject to possible redemption

 

$2,643

 

 

$8,350

 

Denominator: Weighted average common shares subject to redemption

 

 

 

 

 

 

 

 

Basic and diluted weighted average shares outstanding, common stock subject to possible redemption

 

 

36,771

 

 

 

98,263

 

Basic and diluted net income per share, common stock subject to possible redemption

 

$0.07

 

 

$0.08

 

Non-Redeemable common stock

 

 

 

 

 

 

 

 

Numerator: Net income less earnings - Basic and diluted

 

 

 

 

 

 

 

 

Net income (loss)

 

$42,179

 

 

$(77,858 )

Less: net income attributable to common stock subject to redemption

 

 

2,643

 

 

 

8,350

 

Net income attributable to non-redeemable common stock

 

$39,536

 

 

$(86,208 )

Denominator: Weighted average non-redeemable common shares

 

 

 

 

 

 

 

 

Weighted-average non-redeemable common shares outstanding, basic and diluted

 

 

2,082,825

 

 

 

2,082,825

 

Basic and diluted net income per share, non-redeemable common stock

 

$0.02

 

 

$(0.04 )

 

 

Six Months Ended

June 30,

 

 

 

2026

 

 

2025

 

Common stock subject to possible redemption

 

 

 

 

 

 

Numerator: Earnings allocable to common stock subject to redemption

 

 

 

 

 

 

Interest earned on marketable securities held in Trust Account, net of taxes

 

$4,231

 

 

$34,793

 

Net income attributable to common stock subject to possible redemption

 

$4,231

 

 

$34,793

 

Denominator: Weighted average common shares subject to redemption

 

 

 

 

 

 

 

 

Basic and diluted weighted average shares outstanding, common stock subject to possible redemption

 

 

36,771

 

 

 

98,263

 

Basic and diluted net income per share, common stock subject to possible redemption

 

$0.12

 

 

$0.35

 

 

 

 

 

 

 

 

 

 

Non-Redeemable common stock

 

 

 

 

 

 

 

 

Numerator: Net loss minus net earnings - Basic and diluted

 

 

 

 

 

 

 

 

Net loss

 

$(44,340 )

 

$(360,472 )

Less: net income attributable to common stock subject to redemption

 

 

4,231

 

 

 

34,793

 

Net loss attributable to non-redeemable common stock

 

$(48,571 )

 

$(395,265 )

Denominator: Weighted average non-redeemable common shares

 

 

 

 

 

 

 

 

Weighted-average non-redeemable common shares outstanding, basic and diluted

 

 

2,082,825

 

 

 

2,082,825

 

Basic and diluted net loss per share, non-redeemable common stock

 

$(0.02 )

 

$(0.19 )