Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | NOTE 5 — RELATED PARTY TRANSACTIONS Founder Shares On October 24, 2024, the sponsor made a capital contribution of $25,000 to cover certain of the Company’s expenses, for which the Company issued 7,187,500 founder shares to the sponsor. In November 2025, the Company effected a share dividend with respect to the Company’s founder shares of 4,312,500 shares thereof, resulting in the sponsor owning an aggregate of 11,500,000 founder shares. On April 22, 2026, the sponsor surrendered to the Company for no consideration an aggregate of 3,833,333 founder shares, which we accepted and cancelled, resulting in our sponsor owning 7,666,667 founder shares for approximately $0.003 per share. The founder shares included an aggregate of 333,333 shares subject to forfeiture if the over-allotment option was not exercised by the underwriter in full. The underwriter had 45 days from the date of the Prospectus to exercise the over-allotment option. On June 15, 2026, upon the expiration of the over-allotment period, the underwriter forfeited their rights to exercise the remainder of the over-allotment option resulting in the sponsor forfeiting Our initial shareholder has agreed not to transfer, assign or sell any of its founder shares until one year after the completion of our initial Business Combination or earlier if, subsequent to our initial Business Combination, (i) the last sale price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial Business Combination or (ii) the date on which we complete a liquidation, merger, share exchange or other similar transaction which results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property . Promissory Note — Related Party An affiliate of the sponsor agreed to loan the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the IPO pursuant to a promissory note (the “promissory note”). The loan is non-interest bearing, unsecured and was due at the closing of the IPO. The affiliate of the sponsor and the Company subsequently amended and restated the promissory note to provide that the amount outstanding under the promissory note would instead be due upon demand. The loan will be repaid out of the $1,750,000 of offering proceeds that were allocated to the payment of offering expenses. On June 12, 2026, the promissory note was assigned and transferred to the Company’s Chief Executive Officer (“CEO”). As of June 30, 2026 and December 31, 2025, there was $ Due to Sponsor As of June 30, 2026 and December 31, 2025, the Company had an outstanding due to the sponsor (or an affiliate of the sponsor) of $813,107 and $509,158, respectively. This outstanding amount is due on demand. Administrative Support Agreement The Company has entered into an agreement with an affiliate of the sponsor pursuant to which the Company is obligated to, commencing on the date the securities of the Company were first listed on the New York Stock Exchange, pay an aggregate of $10,000 per month for office space, utilities and secretarial and administrative support. Upon completion of a Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. As of June 30, 2026, the Company incurred and paid $20,000 in administrative fees. Working Capital Loans In order to finance transaction costs in connection with an intended initial Business Combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes its initial Business Combination, the Company would repay such working capital loans. In the event that the Initial Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the working capital loans but no proceeds held in the Trust Account would be used to repay the working capital loans. Up to $1,500,000 of such working capital loans may be convertible into private placement-equivalent units at a price of $10.00 per unit at the option of the lender. Such units and their underlying securities would be identical to the private placement units, including as to exercise price, exercisability and exercise period of the underlying warrants. The terms of such working capital loans by our sponsor or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect to such loans. As of June 30, 2026 and December 31, 2025, no such working capital loans were outstanding.
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