| Schedule of Class A Ordinary Shares Subject to Possible Redemption |
As of June 30, 2026 and December 31, 2025, Class A Ordinary Shares subject to possible redemption reflected in the condensed consolidated balance sheets are reconciled in the following table:
|
Class A Ordinary Shares subject to possible redemption, December 31, 2024
|
|
$
|
233,538,339 |
|
Plus:
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
9,819,897 |
|
Class A Ordinary Shares subject to possible redemption, December 31, 2025
|
|
|
243,358,236 |
|
Plus:
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
2,149,376 |
|
Class A Ordinary Shares subject to possible redemption, March 31, 2026
|
|
|
245,507,612 |
|
Plus:
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
2,174,571 |
|
Class A Ordinary Shares subject to possible redemption, June 30, 2026
|
|
$
|
247,682,183 |
|
As of December 31, 2025 and 2024, Class A Ordinary Shares subject to possible redemption reflected in the balance sheets are reconciled in the following table:
|
Gross proceeds
|
|
$
|
230,000,000 |
|
|
Less:
|
|
|
|
|
|
Proceeds allocated to Public Warrants
|
|
|
(805,000 |
)
|
|
Class A Ordinary Shares issuance costs
|
|
|
(15,541,040 |
)
|
|
Plus:
|
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
19,884,379 |
|
|
Class A Ordinary Shares subject to possible redemption, December 31, 2024
|
|
|
233,538,339 |
|
|
Plus:
|
|
|
|
|
|
Accretion of carrying value to redemption value
|
|
|
9,819,897 |
|
|
Class A Ordinary Shares subject to possible redemption, December 31, 2025
|
|
$
|
243,358,236 |
|
|
| Schedule of Basic and Diluted Net Income Per Ordinary Share |
The tables below present a reconciliation of the numerator used to compute basic and diluted net income per Ordinary Share.
|
|
|
For the Three Months Ended June 30,
|
|
For the Six Months Ended June 30,
|
| |
|
2026
|
|
2025
|
|
2026
|
|
2025
|
| |
|
Redeemable
shares
|
|
Non-
redeemable
shares
|
|
Redeemable
shares
|
|
Non-
redeemable
shares
|
|
Redeemable
shares
|
|
Non-
redeemable
shares
|
|
Redeemable
shares
|
|
Non-
redeemable
shares
|
|
Basic and diluted net income per Ordinary Share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income
|
|
$
|
930,217 |
|
$
|
232,554 |
|
$
|
1,893,610 |
|
$
|
473,403 |
|
$
|
2,494,107 |
|
$
|
623,527 |
|
$
|
3,666,292 |
|
$
|
916,573 |
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average Ordinary Shares outstanding
|
|
|
23,000,000 |
|
|
5,750,000 |
|
|
23,000,000 |
|
|
5,750,000 |
|
|
23,000,000 |
|
|
5,750,000 |
|
|
23,000,000 |
|
|
5,750,000 |
|
Basic and diluted net income per Ordinary Share
|
|
$
|
0.04 |
|
$
|
0.04 |
|
$
|
0.08 |
|
$
|
0.08 |
|
$
|
0.11 |
|
$
|
0.11 |
|
$
|
0.16 |
|
$
|
0.16 |
|
The table below presents a reconciliation of the numerator used to compute basic and diluted net income per Ordinary Share.
|
|
|
For the Year Ended
December 31, 2025
|
|
For the period from
May 13, 2024
(Inception) through
December 31, 2024
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Basic net income per Ordinary Share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income
|
|
$
|
7,129,205 |
|
$
|
1,782,301 |
|
$
|
1,354,569 |
|
$
|
860,979 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average Ordinary Shares outstanding
|
|
|
23,000,000 |
|
|
5,750,000 |
|
|
8,291,845 |
|
|
5,270,386 |
|
Basic net income per Ordinary Share
|
|
$
|
0.31 |
|
$
|
0.31 |
|
$
|
0.16 |
|
$
|
0.16 |
|
|
|
For the Year Ended
December 31, 2025
|
|
For the period from
May 13, 2024
(Inception) through
December 31, 2024
|
| |
|
Class A
|
|
Class B
|
|
Class A
|
|
Class B
|
|
Diluted net income per Ordinary Share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income
|
|
$
|
7,129,205 |
|
$
|
1,782,301 |
|
$
|
1,352,002 |
|
$
|
863,546 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average Ordinary Shares outstanding
|
|
|
23,000,000 |
|
|
5,750,000 |
|
|
8,291,845 |
|
|
5,296,137 |
|
Diluted net income per Ordinary Share
|
|
$
|
0.31 |
|
$
|
0.31 |
|
$
|
0.16 |
|
$
|
0.16 |
|