| Summary of Possible Redemption Reflected on the Balance Sheet are Reconciled |
The Public Shares subject to possible redemption reflected on the condensed balance sheets as of June 30, 2026 and December 31, 2025 are reconciled in the following table:
|
|
|
|
|
| Gross proceeds |
|
$ |
220,000,000 |
|
| Less: |
|
|
|
|
| Class A ordinary shares issuance costs |
|
|
(8,757,283 |
) |
| Fair value of Public Warrants at issuance |
|
|
(4,776,200 |
) |
| Plus: |
|
|
|
|
| Accretion of Class A ordinary shares to redemption value |
|
|
14,767,317 |
|
|
|
|
|
|
| Class A ordinary shares subject to possible redemption at June 30, 2026 |
|
|
|
|
|
|
|
|
|
|
| Summary of the Net Loss Per Ordinary Share |
A reconciliation of the net loss per ordinary share is below:
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|
|
|
|
|
|
|
|
|
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| |
|
For The
Three Months Ended
June 30, 2026 |
|
|
For The Three Months
Ended June 30, 2025 |
|
|
For The Six Months
Ended June 30, 2026 |
|
|
For The Six Months
Ended June 30, 2025 |
|
| Redeemable Class A Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: Net loss allocable to Redeemable Class A Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss allocable to Redeemable Class A Ordinary Shares |
|
$ |
(3,821,853 |
) |
|
$ |
— |
|
|
$ |
(2,963,205 |
) |
|
$ |
— |
|
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted weighted average shares outstanding, Redeemable Class A |
|
|
13,934,066 |
|
|
|
— |
|
|
|
7,005,525 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted net loss per share, Class A ordinary shares subject to possible redemption |
|
$ |
(0.27 |
) |
|
$ |
0.00 |
|
|
$ |
(0.42 |
) |
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
Non-Redeemable Class A Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: Net loss allocable to non-redeemable Class A Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss allocable to non-redeemable Class A Ordinary Shares |
|
$ |
(34,963 |
) |
|
$ |
— |
|
|
$ |
(27,108 |
) |
|
$ |
— |
|
Denominator: Weighted Average Non-Redeemable Class A Ordinary Shares |
|
|
127,473 |
|
|
|
— |
|
|
|
64,088 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per share, Class A non-redeemable ordinary shares |
|
$ |
(0.27 |
) |
|
$ |
0.00 |
|
|
$ |
(0.42 |
) |
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Redeemable Class B Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: Net loss allocable to non-redeemable Class B Ordinary Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss allocable to non-redeemable Class B Ordinary Shares |
|
$ |
(1,937,049 |
) |
|
$ |
(30,900 |
) |
|
$ |
(2,904,004 |
) |
|
$ |
(129,409 |
) |
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares |
|
|
7,062,272 |
|
|
|
6,666,667 |
|
|
|
6,865,562 |
|
|
|
6,666,667 |
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per share, Class B non-redeemable ordinary shares |
|
$ |
(0.27 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.42 |
) |
|
$ |
(0.02 |
) |
|
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