v3.26.3
Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 8,773 $ 518
Prepaid expenses 178,348 259,601
Total current assets 187,121 260,119
Cash held in Trust Account 23,788,578 22,852,136
Total Assets 23,975,699 23,112,255
Current liabilities:    
Accounts payable 804,535 669,205
Due to Continental 172,500
Accrued expenses 2,620,011 3,248,577
Total current liabilities 3,424,546 4,090,282
Backstop agreement liability 194,240
Due to redeeming shareholders 22,485,938
Derivative warrant liabilities 652,995 3,110,705
Deferred underwriting commissions 20,125,000 20,125,000
Total liabilities 64,001,887 42,971,745
Commitments and Contingencies
Shareholders’ Deficit:    
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding as of June 30, 2025 and December 31, 2024
Additional paid-in capital
Accumulated deficit (41,330,267) (42,440,564)
Total shareholders’ deficit (41,328,829) (42,439,126)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit 23,975,699 23,112,255
Class A Ordinary Shares    
Current liabilities:    
Class A ordinary shares subject to possible redemption, $0.0001 par value; 114,053 and 2,000,000 shares at redemption value of approximately $11.42 and $11.29 per share as of June 30, 2025 and December 31, 2024, respectively 1,302,641 22,579,636
Shareholders’ Deficit:    
Ordinary shares value 1,421
Class B Ordinary Shares    
Shareholders’ Deficit:    
Ordinary shares value 17 1,438
Related Party    
Current liabilities:    
Promissory Notes—related party 14,040,982 12,717,746
Advances from related party 1,798,426 1,259,772
Working Capital Loans—related party $ 1,474,000 $ 1,474,000