v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements [Abstract]  
Schedule of Assets and Liabilities that are Measured at Fair Value

The following table presents information about the Company’s assets and liabilities 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:           
Investments held in Trust Account  1  $140,758,257   $
      —
 
Liabilities:             
Over-allotment option liability  3  $56,700   $
 
Schedule of Initial Measurement of the Over-Allotment Option

The key inputs into the Black-Scholes model were as follows at initial measurement of the over-allotment option:

 

   June 1,
2026
 
Risk-free interest rate   3.71%
Expected term (years)   0.12 
Volatility   1.67%
Exercise price  $10.00 

 

As of June 30, 2026, the fair value of the over-allotment option liability is $56,700, or $0.027 per over-allotment option unit. The key inputs into the Black-Scholes model were as follows as of June 30, 2026 of the over-allotment option:

 

   June 30,
2026
 
Risk-free interest rate   3.70%
Expected term (years)   0.04 
Volatility   2.29%
Exercise price  $10.00 
Schedule of Changes in Fair Value

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s over-allotment option liability classified as Level 3 for the period ended June 30, 2026:

 

Fair value of over-allotment option liability at January 1, 2026  $
 
Initial fair value of over-allotment option liability at June 1, 2026   110,400 
Change in fair value of over-allotment option liability   (53,700)
Fair value of over-allotment option liability at June 30, 2026  $56,700 
Schedule of Quantitative Information Regarding Market Assumptions The following table presents the quantitative information regarding market assumptions used in the Level 3 valuation of the Public Rights issued in the Initial Public Offering:
   June 1,
2026
 
Expected term to de-SPAC (years)   1.75 
Probability of de-SPAC and instrument-specific market adjustment   15.0%
Risk-free rate (continuous)   3.96%
Implied Class A share price  $9.85