v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
FAIR VALUE MEASUREMENTS  
Schedule of Company's Assets that are Measured at Fair Value

The following table presents information about the Company’s assets that are measured at fair value at June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

  ​ ​ ​

  ​ ​ ​

June 30, 

December 31, 

Description

 

Level

  ​ ​ ​

2026

  ​ ​ ​

2025

Assets:

 

  ​

 

  ​

Investments held in Trust Account

 

1

$

236,580,243

$

232,460,533

  ​ ​ ​

April 24,

 

2025

Public Warrants

$

3,036,621

NMSI Private Placement Warrants

2,480,500

Schedule of Financial Assets and Liabilities Measured at Fair Value

The table below provides a summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2025:

  ​ ​ ​

Fair Value

 

Measurement

 

Using Level 3

 

Inputs Total

Balance, December 31, 2024

$

Initial fair value

 

2,480,500

Change in fair value of derivative warrant liabilities

 

183,818

Balance, June 30, 2025

$

2,664,318

Schedule of Assumptions to Warrant

The Company used the following assumptions to value the Public Warrants and NMSI Private Placement Warrants at April 24, 2025.

Volatility

  ​ ​ ​

6.6

%

Risk-Free Rate

 

3.8

%

Dividends

$

0.00

Market Adjustment

 

16.7

%

Stock Price

$

9.87

Weighted Term (years)

 

2.83

The Company used a Monte Carlo simulation model with the following assumptions to value the NMSI Private Placement Warrants at December 31, 2025.

Volatility

  ​ ​ ​

21.20

%

Risk Free Rate

 

3.48

%

Dividends

$

0.00

Market Adjustment

 

14.50

%

Stock Price

$

10.65

Weighted Term (years)

 

1.34