v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements

NOTE 10 — FAIR VALUE MEASUREMENTS

 

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

 

  Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
     
  Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.
     
  Level 3: Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.

 

The following table presents information about the Company’s assets that are measured at fair value as of 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:

 

    Level     June 30,
2026		     December 31,
2025		  
Assets:                  
Cash and investments held in Trust Account     1     $ 207,159,708     $         —  

 

The fair value of the 10,209,693 Public Warrants issued in connection with the Initial Public Offering, including the underwriters’ partial exercise of the over-allotment option, was approximately $3,471,295, or $0.34 per Public Warrant. The Public Warrants issued in the Initial Public Offering have been classified within additional paid-in capital in shareholders’ equity and will not require remeasurement after issuance. The valuation assumptions presented below were applied to the Public Warrants issued on January 30, 2026 and the additional Public Warrants issued upon the partial exercise of the underwriters’ over-allotment option on February 2, 2026. The following table presents the quantitative information regarding the market assumptions used in the Level 3 valuation of the Public Warrants issued in the Initial Public Offering:

 

    January 30,
2026		  
Implied Class A ordinary share price   $ 9.83  
Exercise price   $ 11.50  
Expected term to De-SPAC     2 years  
Warrant term     7 years  
Selected volatility     2.50 %
Probability of De-SPAC and market adjustment     30.00 %
Risk-free rate (continuous)     3.97 %