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S-4 Texas Ventures Acquisition III Corp E9 6770 98-1802457 1012 Springfield Avenue Mountainside NJ 07092 201 380-7500 Troy Rillo 1012 Springfield Avenue Mountainside NJ 07092 201 380-7500 Non-accelerated Filer true true false The board of directors of Texas Ventures Acquisition III Corp, a Cayman Islands exempted company (“TVA III,” “we” or “our”), has approved the Agreement and Plan of Merger and Reorganization, dated as of September 2, 2026 (as may be further amended, modified, supplemented or waived from time to time, the “Merger Agreement”), by and among TVA III, TVAC Merger Sub I, Inc., a Delaware corporation and direct, wholly owned subsidiary of TVA III (“Merger Sub I”), TVAC Merger Sub II, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of TVA III (“Merger Sub II”, and, together with Merger Sub I, “Merger Subs”) and Plus Automation, Inc., a Delaware corporation (“PlusAI”). The Merger Agreement, among other things and subject to the terms and conditions contained therein, provides for (1) the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware (the “Domestication”), and (2) following the Domestication, the merger of Merger Sub I with and into PlusAI, with PlusAI continuing as the surviving corporation and a wholly owned subsidiary of TVA III (“First Merger”), and immediately following the First Merger, the surviving corporation of the First Merger will merge with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, collectively, the “Merger,” and, together with the Domestication and other transactions contemplated by the Merger Agreement and the related agreements, the “Transactions” or the “business combination”). Following the consummation of the business combination, TVA III will change its name to “PlusAI Holdings, Inc.” We refer to the new public entity following the consummation of the business combination as the “Post-Closing Company.” Subject to the terms and conditions of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants will be (1) $800,000,000 (the “Equity Value”), which consideration will be paid entirely in shares of common stock, par value $0.0001 per share, of the Post-Closing Company (“Post-Closing Company common stock”), in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to certain eligible holders of pre-Closing securities of PlusAI during the five-year period following the Closing (the “Earnout Period”), in three tranches consisting of 21,000,000 shares each (such shares, the “Earnout Shares”), upon the satisfaction of certain price targets, which will be based upon (a) the volume-weighted average price of one share of Post-Closing Company Class A common stock as quoted on the Capital Market tier of the Nasdaq Stock Market (“Nasdaq”) or the exchange on which the shares of Post-Closing Company Class A common stock are then traded, for any 20 trading days within any 180 consecutive trading day period within the Earnout Period or (b) if the Post-Closing Company undergoes a Change in Control, the price per share received by stockholders of the Post-Closing Company in such Change in Control transaction (or if consideration is not received by stockholders of the Post-Closing Company, the price per share implied by such transaction). At the Effective Time, each share of PlusAI common stock issued and outstanding immediately prior to the Closing (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio, which is based on the Per Share Equity Value (calculated in accordance with the Merger Agreement); provided that shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or as a result of the exercise of any PlusAI Option granted under the 2021 Plan will be exchanged for shares of Class C common stock of the Post-Closing Company, which entitle the holder to one-quarter (1/4th) of a vote per share. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”The deadline by which TVA III must complete a business combination transaction is October 24, 2026. TVA III has scheduled an extraordinary general meeting to be held on October 19, 2026 for its shareholders to vote on, among other things, a proposal to amend the TVA III Articles to extend such deadline to July 24, 2027 (the “SPAC Extension”).After careful consideration, the TVA III Board has unanimously determined that the business combination proposal, domestication proposal, organizational documents proposal, advisory organizational documents proposal, stock issuance proposal, incentive plan proposal, ESPP proposal, director election proposal and, if necessary, the adjournment proposal are just, equitable and fair, and in the best interests of, TVA III and its shareholders and unanimously recommends that you vote or give instruction to vote “FOR” the business combination proposal, “FOR” the domestication proposal, “FOR” the organizational documents proposal, “FOR” the advisory organizational documents proposal, “FOR” the stock issuance proposal, “FOR” the incentive plan proposal, “FOR” the ESPP proposal, “FOR” each of the director nominees named in the director election proposal and, if presented, “FOR” the adjournment proposal. When you consider the TVA III Board’s recommendation of these proposals, you should keep in mind that our directors and officers, as well as Yorkville Acquisition Sponsor II, LLC, our sponsor (the “Sponsor”), have interests in the Transactions that are different from, or in addition to, the interests of TVA III shareholders generally. Please see the section entitled “Proposal No. 1 — The Business Combination Proposal — Interests of Certain TVA III Persons in the Business Combination” for additional information. The TVA III Board was aware of and considered these interests, among other matters, in evaluating and negotiating the Transactions and in recommending to TVA III shareholders that they vote in favor of the proposals presented at the extraordinary general meeting. There may be actual or potential material conflicts of interest between or among (1) the Sponsor, TVA III’s officers and directors, PlusAI’s officers and directors and (2) unaffiliated security holders of TVA III. Such conflicts of interest may include a material conflict of interest arising in determining whether to proceed with the Business Combination, the compensation of TVA III’s directors and officers and the compensation of the Sponsor in connection with the business combination. See the section entitled “Proposal No. 1 —The Business Combination Proposal — Interests of Certain TVA III Persons in the Business Combination” and “Other Information Related to TVA III — Conflicts of Interest.” PlusAI’s directors and executive officers have interests in the Business Combination that are different from, or in addition to, those of the TVA III shareholders generally. See the section entitled “Proposal No. 1 —The Business Combination Proposal — Interests of Certain PlusAI Persons in the Business Combination”. 22500000 16875000 11250000 1050000 7500000 7500000 7500000 7500000 77550256 77550256 77550256 77550256 100000 100000 100000 100000 107650256 102025256 96400256 86200256 <div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:5.5235502658900995%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">(4)<div style="display:inline;">Consists of 100,000 shares of Post-Closing Company Class A common stock issuable to CCM in satisfaction of $1.0 million of the advisor fee payable to CCM pursuant to its engagement letter with PlusAI, which is payable in Post-Closing Company common shares (or equivalent equity) simultaneously with the closing of the Transaction. The shares issuable is estimated using the TVA III closing stock price of $10.00 per share. This amount does not include the portion of the TVA III Private Placement Warrants held by CCM mentioned above.</div></div> “Sponsor” are to the holder of all of the TVA III Class B Ordinary Shares, Yorkville Acquisition Sponsor II, LLC, a Florida limited liability company in which Sponsor Affiliate and certain of TVA III’s directors hold membership interests. Sponsor Sponsor II, LLC SUMMARY OF THE MATERIAL TERMS OF THE TRANSACTIONSThis summary term sheet, together with the sections entitled “Questions and Answers About the Business Combination” and “Summary of the Proxy Statement/Prospectus,” summarizes certain information contained in this proxy statement/prospectus, but does not contain all of the information that is important to you. You should read carefully this entire proxy statement/prospectus, including the attached Annexes, for a more complete understanding of the matters to be considered at the extraordinary general meeting, as applicable. In addition, for definitions used commonly throughout this proxy statement/prospectus, including this summary term sheet, please see the section entitled “Frequently Used Terms.”<div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Texas Ventures Acquisition III Corp, a Cayman Islands exempted company (“TVA III,” “we,” “us,” or “our”), is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On August 1, 2024, the Prior Sponsor purchased the TVA III Founder Shares consisting of 7,666,667 TVA III Class B Ordinary Shares in exchange for a payment of $25,000. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On April 24, 2025, TVA III consummated the TVA III IPO of 22,500,000 TVA III Public Units, including 2,500,000 TVA III Public Units under the underwriters’ over-allotment option. Each TVA III Public Unit consists of one TVA III Class A Ordinary Share, par value $0.0001 per share, and one-half of one TVA III Public Warrant, which is a redeemable warrant of TVA III, with each whole TVA III Public Warrant entitling the holder thereof to purchase one TVA III Class A Ordinary Share for $11.50 per share. The TVA III Public Units were sold at a price of $10.00 per unit, generating gross proceeds to TVA III of $225,000,000. Simultaneously with the consummation of the TVA III IPO, TVA III completed the private sale of an aggregate of 7,568,750 TVA III Private Placement Warrants to the Prior Sponsor, CCM and Clear Street in a private placement (the “TVA III Private Placement”) at a purchase price of $1.00 per TVA III Private Placement Warrant, generating gross proceeds of $7,568,750. In addition, on April 24, 2025, the Prior Sponsor forfeited 166,667 TVA III Founder Shares as the underwriters did not fully exercise the over-allotment option.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">In the TVA III Private Placement, CCM and Clear Street purchased an aggregate of 2,868,750 TVA III Private Placement Warrants and the Prior Sponsor purchased 4,700,000 TVA III Private Placement Warrants (inclusive of the 4,100,000 NMSI TVA III Private Placement Warrants owned by the Prior Sponsor that were allocated to the non-managing sponsor investors as a result of the non-managing sponsor investor’s membership interests in the Prior Sponsor). Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at $11.50 per share. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Following the consummation of the TVA III IPO, $226,125,000 (or $10.05 per TVA III Public Unit) was deposited into a U.S.-based trust account with Continental Stock Transfer & Trust Company acting as trustee. Except as described in the prospectus for the TVA III IPO, these proceeds plus interest earned thereon (net of taxes payable) will not be released until the earlier of the completion of an initial business combination and TVA III’s redemption of 100% of the outstanding TVA III public shares upon its failure to consummate an initial business combination within the completion window.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On September 18, 2025, the TVA III, the Prior Sponsor and the Sponsor, entered into a purchase agreement (the “Purchase Agreement”), pursuant to which, the Sponsor (i) purchased from the Prior Sponsor (a) 7,500,000 shares of TVA III Class B Ordinary Shares and (b) 4,700,000 TVA III Private Placement Warrants, for an aggregate purchase price of $7,400,000 and (ii) upon closing, became the Sponsor of TVA III. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Plus Automation, Inc., a Delaware corporation (“PlusAI”), is an AI-first autonomous driving software company that aims to deliver physical AI to the heavy trucking industry at scale. See the sections entitled “Information About Plus Automation, Inc.,” “PlusAI’s Management’s Discussion and Analysis of Financial </div></div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">Condition and Results of Operations” and “Board of Directors and Management After the Business Combination.”</div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On September 2, 2026, TVA III entered into the Merger Agreement, which, among other things and subject to the terms and conditions contained therein, provides for (1) the Domestication, which is the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware, and (2) following the Domestication, the Merger, which consists of two mergers -- the merger of Merger Sub I with and into PlusAI, with PlusAI continuing as the surviving corporation and a wholly owned subsidiary of TVA III, and immediately thereafter, the merger of PlusAI with and into Merger Sub II, with Merger Sub II continuing as the surviving entity as a wholly owned subsidiary of TVA III.</div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the terms of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants, will be (1) the Equity Value of $800,000,000, which consideration will be paid entirely in shares of Post-Closing common stock, par value $0.0001 per share, in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to certain eligible holders of pre-Closing securities of PlusAI during the five-year Earnout Period following the Closing, in three tranches consisting of 21,000,000 Earnout Shares each, upon the satisfaction of certain price targets, which will be based upon (a) the volume-weighted average price of one share of Post-Closing Company Class A common stock as quoted on the Capital Market tier of Nasdaq or the exchange on which the shares of Post-Closing Company Class A common stock are then traded, for any 20 trading days within any 180 consecutive trading day period within the Earnout Period or (b) if the Post-Closing Company undergoes a Change in Control, the price per share received by stockholders of the Post-Closing Company in such Change in Control transaction (or if consideration is not received by stockholders of the Post-Closing Company, the price per share implied by such transaction). At the Effective Time, each share of PlusAI common stock issued and outstanding immediately prior to the Closing (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio, which is based on the Per Share Equity Value (calculated in accordance with the Merger Agreement); provided that shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or as a result of the exercise of any PlusAI Option granted under the 2021 Plan will be exchanged for shares of Class C common stock of the Post-Closing Company, which entitle the holder to one-quarter (1/4th) of a vote per share. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, at the Closing, we estimate that approximately 77,150,657 shares of Post-Closing Company common stock will be issued to holders of PlusAI common stock in the Merger, in exchange for all outstanding shares of PlusAI common stock (including shares of PlusAI common stock resulting from the conversion of PlusAI preferred stock and PlusAI SAFEs immediately prior to the Closing and PlusAI Class A common stock issued pursuant to the Share Issuance Agreements in connection with the PIPE Investment and the Convertible Notes). We also estimate that we will reserve for issuance up to (1) 4,368,910 shares of Post-Closing Company common stock in respect of the PlusAI options and unvested PlusAI RSUs assumed pursuant to the terms of the Merger Agreement and (2) 18,510,906 shares of Post-Closing Company common stock in respect of the PlusAI warrants assumed pursuant to the terms of the Merger Agreement. The reserved shares referred to in clause (1) of the immediately preceding sentence are not included in the 214,480,313 shares the sale and issuance of which are registered by this registration statement, are not subject to registration rights but will be registered in a registration statement on Form S-8 to the extent that such PlusAI options and unvested PlusAI RSUs were granted to service providers of PlusAI. Additionally, we will issue up to an aggregate of 63,000,000 shares of Post-Closing Company common stock to Eligible PlusAI Equityholders upon the </div></div></div></div></div><div><div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">occurrence of an Earnout Triggering Event during the Earnout Period. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Merger Consideration.” </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon completion of the business combination, (1) PlusAI stockholders are expected to hold an ownership interest of 72% of the issued and outstanding Post-Closing Company common stock, (2) the Sponsor is expected to hold an ownership interest of 7% of the issued and outstanding Post-Closing Company common stock and (3) TVA III Public Shareholders are expected to hold an ownership interest of 21% of the issued and outstanding Post-Closing Company common stock. These levels of ownership interest (1) assumes no equity financings, other than the PIPE Investment, will occur prior to completion of the business combination, (2) assume that (a) no TVA III Public Shareholder exercises their redemption rights in connection with the Transactions, (b) no TVA III Class A Common Stock is issued to the Sponsor in connection with the conversion of unpaid amounts under the Working Capital Loans, and (c) there are no other issuances of equity interests of TVA III or PlusAI and (3) do not take into account (a) any assumed PlusAI options that may be exercised after the consummation of the business combination, for which an estimated 2,389,994 shares of Post-Closing Company common stock are expected to be reserved, (b) any assumed unvested PlusAI RSUs that may vest after the consummation of the business combination, for which an estimated 1,978,916 shares of Post-Closing Company stock are expected to be reserved, (c) any assumed PlusAI warrants that may be exercised after the consummation of the business combination, for which an estimated 18,510,906 shares of Post-Closing Company common stock are expected to be reserved, (d) any Earnout Shares (up to an aggregate of 63,000,000 Post-Closing Company common stock) that may be issued upon the occurrence of an Earnout Triggering Event during the Earnout Period, or (e) the potential issuance of any shares of Post-Closing Company common stock reserved for issuance under the Incentive Plan and the ESPP. The estimated Exchange Ratio of 0.044 reflects PlusAI capital stock outstanding of June 30, 2026 and PlusAI SAFEs outstanding as of June 30, 2026. If the actual facts are different from these assumptions, TVA III Public Shareholders’ percentage ownership in the Post-Closing Company will be different. For a table illustrating each scenario, see “Questions and Answers about the Business Combination — Questions and Answers for TVA III shareholders about the extraordinary general meeting and the business combination — What equity stake will current TVA III shareholders and PlusAI stockholders hold in the Post-Closing Company immediately after the consummation of the business combination?”</div></div></div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">TVA III management and the TVA III Board considered various factors in determining whether to approve the Merger Agreement, the related agreements to which TVA III is a party and the Transactions, including the Domestication and Merger. For more information about the reasons that the TVA III Board considered in determining its recommendation, please see the section entitled “Proposal No. 1 — The Business Combination Proposal — The TVA III Board’s Reasons for Approval of the Business Combination.” When you consider the TVA III Board’s recommendation of these proposals, you should keep in mind that our directors and officers, as well as the Sponsor, and each of their affiliates, including Sponsor Affiliate, have interests in the Transactions that are different from, or in addition to, the interests of TVA III shareholders generally. Please see the section entitled “Proposal No. 1 — The Business Combination Proposal — Interests of Certain TVA III Persons in the Business Combination” for additional information. The TVA III Board was aware of and considered these interests, among other matters, in evaluating and negotiating the Transactions and in recommending to TVA III shareholders that they vote “FOR” the proposals presented at the extraordinary general meeting.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">At the extraordinary general meeting, TVA III shareholders will be asked to consider and vote on the following proposals:</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the Merger Agreement and business combination — we refer to this proposal as the “business combination proposal.” Please see the section entitled “Proposal No. 1 — The Business Combination Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, on a non-binding advisory basis, by special resolution the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware— we refer to this proposal as the “domestication proposal.” Please see the section entitled “Proposal No. 2 — The Domestication Proposal”;</div></div></div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, on a non-binding advisory basis, by special resolution, and adopt with effect from the Domestication the Proposed Certificate of Incorporation and Proposed Bylaws of TVA III — we refer to this proposal as the “organizational documents proposal.” A copy of each of the Proposed Certificate of Incorporation and Proposed Bylaws is attached to this proxy statement/prospectus as Annex B and Annex C, respectively. Please see the section entitled “Proposal No. 3 — The Organizational Documents Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">proposals to approve, on a non-binding advisory basis and as required by the applicable SEC guidance, by ordinary resolution, certain of the material differences between the TVA III Articles and the Proposed Certificate of Incorporation and the Proposed Bylaws — we refer to these proposals as the “advisory organizational documents proposal.” A copy of each of the Proposed Certificate of Incorporation and Proposed Bylaws is attached to this proxy statement/prospectus as Annex B and Annex C, respectively. Please see the section entitled “Proposal No. 4 — The Advisory Organizational Documents Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, including for purposes of complying with applicable Nasdaq Listing Rules, the issuance of shares of common stock of the Post-Closing Company following the Domestication in connection with the Merger — we refer to this proposal as the “stock issuance proposal.” Please see the section entitled “Proposal No. 5 — The Stock Issuance Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the Incentive Plan and the material terms thereof, including the authorization of the initial share reserve thereunder — we refer to this proposal as the “incentive plan proposal.” A copy of the Incentive Plan is attached to this proxy statement/prospectus as Annex D. Please see the section entitled “Proposal No. 6 — The Incentive Plan Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the ESPP and the material terms thereof, including the authorization of the initial share reserve thereunder — we refer to this proposal as the “ESPP proposal.” A copy of the ESPP is attached to this proxy statement/prospectus as Annex E. Please see the section entitled “Proposal No. 7 — The ESPP Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, on a non-binding advisory basis, the election of directors to serve staggered terms on the Post-Closing Company Board following the consummation of the business combination until immediately following the date of the 2028, 2029 and 2030 annual stockholder meetings, as applicable, or in each case until their respective successors are duly elected and qualified, or until their earlier resignation, removal or death — we refer to this proposal as the “director election proposal” and, collectively with the business combination proposal, the domestication proposal, the organizational documents proposal, the stock issuance proposal, the incentive plan proposal and the ESPP proposal, the “condition precedent proposals.” Please see the section entitled “Proposal No. 8 — The Director Election Proposal”; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the adjournment of the extraordinary general meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of any of the proposals at the extraordinary general meeting— we refer to this proposal as the “adjournment proposal.” Please see the section entitled “Proposal No. 9 — The Adjournment Proposal.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon consummation of the business combination, it is expected that each Class I director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2028, each Class II director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2029 and each Class III director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2030, or in each case until their respective successors are duly elected and qualified, or until their earlier resignation, removal or death. Please see the sections entitled “Proposal No. 8 — The Director Election Proposal” and “Management After the Business Combination” for additional information.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Any assumed Closing Date used throughout this proxy statement/prospectus is for illustrative purposes only and is not intended to be a projection of the actual Closing Date.</div></div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Texas Ventures Acquisition III Corp, a Cayman Islands exempted company (“TVA III,” “we,” “us,” or “our”), is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On August 1, 2024, the Prior Sponsor purchased the TVA III Founder Shares consisting of 7,666,667 TVA III Class B Ordinary Shares in exchange for a payment of $25,000. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On April 24, 2025, TVA III consummated the TVA III IPO of 22,500,000 TVA III Public Units, including 2,500,000 TVA III Public Units under the underwriters’ over-allotment option. Each TVA III Public Unit consists of one TVA III Class A Ordinary Share, par value $0.0001 per share, and one-half of one TVA III Public Warrant, which is a redeemable warrant of TVA III, with each whole TVA III Public Warrant entitling the holder thereof to purchase one TVA III Class A Ordinary Share for $11.50 per share. The TVA III Public Units were sold at a price of $10.00 per unit, generating gross proceeds to TVA III of $225,000,000. Simultaneously with the consummation of the TVA III IPO, TVA III completed the private sale of an aggregate of 7,568,750 TVA III Private Placement Warrants to the Prior Sponsor, CCM and Clear Street in a private placement (the “TVA III Private Placement”) at a purchase price of $1.00 per TVA III Private Placement Warrant, generating gross proceeds of $7,568,750. In addition, on April 24, 2025, the Prior Sponsor forfeited 166,667 TVA III Founder Shares as the underwriters did not fully exercise the over-allotment option.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">In the TVA III Private Placement, CCM and Clear Street purchased an aggregate of 2,868,750 TVA III Private Placement Warrants and the Prior Sponsor purchased 4,700,000 TVA III Private Placement Warrants (inclusive of the 4,100,000 NMSI TVA III Private Placement Warrants owned by the Prior Sponsor that were allocated to the non-managing sponsor investors as a result of the non-managing sponsor investor’s membership interests in the Prior Sponsor). Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at $11.50 per share. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Following the consummation of the TVA III IPO, $226,125,000 (or $10.05 per TVA III Public Unit) was deposited into a U.S.-based trust account with Continental Stock Transfer & Trust Company acting as trustee. Except as described in the prospectus for the TVA III IPO, these proceeds plus interest earned thereon (net of taxes payable) will not be released until the earlier of the completion of an initial business combination and TVA III’s redemption of 100% of the outstanding TVA III public shares upon its failure to consummate an initial business combination within the completion window.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On September 18, 2025, the TVA III, the Prior Sponsor and the Sponsor, entered into a purchase agreement (the “Purchase Agreement”), pursuant to which, the Sponsor (i) purchased from the Prior Sponsor (a) 7,500,000 shares of TVA III Class B Ordinary Shares and (b) 4,700,000 TVA III Private Placement Warrants, for an aggregate purchase price of $7,400,000 and (ii) upon closing, became the Sponsor of TVA III. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Plus Automation, Inc., a Delaware corporation (“PlusAI”), is an AI-first autonomous driving software company that aims to deliver physical AI to the heavy trucking industry at scale. See the sections entitled “Information About Plus Automation, Inc.,” “PlusAI’s Management’s Discussion and Analysis of Financial </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">Condition and Results of Operations” and “Board of Directors and Management After the Business Combination.”</div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On September 2, 2026, TVA III entered into the Merger Agreement, which, among other things and subject to the terms and conditions contained therein, provides for (1) the Domestication, which is the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware, and (2) following the Domestication, the Merger, which consists of two mergers -- the merger of Merger Sub I with and into PlusAI, with PlusAI continuing as the surviving corporation and a wholly owned subsidiary of TVA III, and immediately thereafter, the merger of PlusAI with and into Merger Sub II, with Merger Sub II continuing as the surviving entity as a wholly owned subsidiary of TVA III.</div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the terms of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants, will be (1) the Equity Value of $800,000,000, which consideration will be paid entirely in shares of Post-Closing common stock, par value $0.0001 per share, in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to certain eligible holders of pre-Closing securities of PlusAI during the five-year Earnout Period following the Closing, in three tranches consisting of 21,000,000 Earnout Shares each, upon the satisfaction of certain price targets, which will be based upon (a) the volume-weighted average price of one share of Post-Closing Company Class A common stock as quoted on the Capital Market tier of Nasdaq or the exchange on which the shares of Post-Closing Company Class A common stock are then traded, for any 20 trading days within any 180 consecutive trading day period within the Earnout Period or (b) if the Post-Closing Company undergoes a Change in Control, the price per share received by stockholders of the Post-Closing Company in such Change in Control transaction (or if consideration is not received by stockholders of the Post-Closing Company, the price per share implied by such transaction). At the Effective Time, each share of PlusAI common stock issued and outstanding immediately prior to the Closing (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio, which is based on the Per Share Equity Value (calculated in accordance with the Merger Agreement); provided that shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or as a result of the exercise of any PlusAI Option granted under the 2021 Plan will be exchanged for shares of Class C common stock of the Post-Closing Company, which entitle the holder to one-quarter (1/4th) of a vote per share. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, at the Closing, we estimate that approximately 77,150,657 shares of Post-Closing Company common stock will be issued to holders of PlusAI common stock in the Merger, in exchange for all outstanding shares of PlusAI common stock (including shares of PlusAI common stock resulting from the conversion of PlusAI preferred stock and PlusAI SAFEs immediately prior to the Closing and PlusAI Class A common stock issued pursuant to the Share Issuance Agreements in connection with the PIPE Investment and the Convertible Notes). We also estimate that we will reserve for issuance up to (1) 4,368,910 shares of Post-Closing Company common stock in respect of the PlusAI options and unvested PlusAI RSUs assumed pursuant to the terms of the Merger Agreement and (2) 18,510,906 shares of Post-Closing Company common stock in respect of the PlusAI warrants assumed pursuant to the terms of the Merger Agreement. The reserved shares referred to in clause (1) of the immediately preceding sentence are not included in the 214,480,313 shares the sale and issuance of which are registered by this registration statement, are not subject to registration rights but will be registered in a registration statement on Form S-8 to the extent that such PlusAI options and unvested PlusAI RSUs were granted to service providers of PlusAI. Additionally, we will issue up to an aggregate of 63,000,000 shares of Post-Closing Company common stock to Eligible PlusAI Equityholders upon the </div></div></div></div><div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">occurrence of an Earnout Triggering Event during the Earnout Period. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Merger Consideration.” </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon completion of the business combination, (1) PlusAI stockholders are expected to hold an ownership interest of 72% of the issued and outstanding Post-Closing Company common stock, (2) the Sponsor is expected to hold an ownership interest of 7% of the issued and outstanding Post-Closing Company common stock and (3) TVA III Public Shareholders are expected to hold an ownership interest of 21% of the issued and outstanding Post-Closing Company common stock. These levels of ownership interest (1) assumes no equity financings, other than the PIPE Investment, will occur prior to completion of the business combination, (2) assume that (a) no TVA III Public Shareholder exercises their redemption rights in connection with the Transactions, (b) no TVA III Class A Common Stock is issued to the Sponsor in connection with the conversion of unpaid amounts under the Working Capital Loans, and (c) there are no other issuances of equity interests of TVA III or PlusAI and (3) do not take into account (a) any assumed PlusAI options that may be exercised after the consummation of the business combination, for which an estimated 2,389,994 shares of Post-Closing Company common stock are expected to be reserved, (b) any assumed unvested PlusAI RSUs that may vest after the consummation of the business combination, for which an estimated 1,978,916 shares of Post-Closing Company stock are expected to be reserved, (c) any assumed PlusAI warrants that may be exercised after the consummation of the business combination, for which an estimated 18,510,906 shares of Post-Closing Company common stock are expected to be reserved, (d) any Earnout Shares (up to an aggregate of 63,000,000 Post-Closing Company common stock) that may be issued upon the occurrence of an Earnout Triggering Event during the Earnout Period, or (e) the potential issuance of any shares of Post-Closing Company common stock reserved for issuance under the Incentive Plan and the ESPP. The estimated Exchange Ratio of 0.044 reflects PlusAI capital stock outstanding of June 30, 2026 and PlusAI SAFEs outstanding as of June 30, 2026. If the actual facts are different from these assumptions, TVA III Public Shareholders’ percentage ownership in the Post-Closing Company will be different. For a table illustrating each scenario, see “Questions and Answers about the Business Combination — Questions and Answers for TVA III shareholders about the extraordinary general meeting and the business combination — What equity stake will current TVA III shareholders and PlusAI stockholders hold in the Post-Closing Company immediately after the consummation of the business combination?”</div></div></div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">TVA III management and the TVA III Board considered various factors in determining whether to approve the Merger Agreement, the related agreements to which TVA III is a party and the Transactions, including the Domestication and Merger. For more information about the reasons that the TVA III Board considered in determining its recommendation, please see the section entitled “Proposal No. 1 — The Business Combination Proposal — The TVA III Board’s Reasons for Approval of the Business Combination.” When you consider the TVA III Board’s recommendation of these proposals, you should keep in mind that our directors and officers, as well as the Sponsor, and each of their affiliates, including Sponsor Affiliate, have interests in the Transactions that are different from, or in addition to, the interests of TVA III shareholders generally. Please see the section entitled “Proposal No. 1 — The Business Combination Proposal — Interests of Certain TVA III Persons in the Business Combination” for additional information. The TVA III Board was aware of and considered these interests, among other matters, in evaluating and negotiating the Transactions and in recommending to TVA III shareholders that they vote “FOR” the proposals presented at the extraordinary general meeting.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">At the extraordinary general meeting, TVA III shareholders will be asked to consider and vote on the following proposals:</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the Merger Agreement and business combination — we refer to this proposal as the “business combination proposal.” Please see the section entitled “Proposal No. 1 — The Business Combination Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, on a non-binding advisory basis, by special resolution the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware— we refer to this proposal as the “domestication proposal.” Please see the section entitled “Proposal No. 2 — The Domestication Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, on a non-binding advisory basis, by special resolution, and adopt with effect from the Domestication the Proposed Certificate of Incorporation and Proposed Bylaws of TVA III — we refer to this proposal as the “organizational documents proposal.” A copy of each of the Proposed Certificate of Incorporation and Proposed Bylaws is attached to this proxy statement/prospectus as Annex B and Annex C, respectively. Please see the section entitled “Proposal No. 3 — The Organizational Documents Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">proposals to approve, on a non-binding advisory basis and as required by the applicable SEC guidance, by ordinary resolution, certain of the material differences between the TVA III Articles and the Proposed Certificate of Incorporation and the Proposed Bylaws — we refer to these proposals as the “advisory organizational documents proposal.” A copy of each of the Proposed Certificate of Incorporation and Proposed Bylaws is attached to this proxy statement/prospectus as Annex B and Annex C, respectively. Please see the section entitled “Proposal No. 4 — The Advisory Organizational Documents Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, including for purposes of complying with applicable Nasdaq Listing Rules, the issuance of shares of common stock of the Post-Closing Company following the Domestication in connection with the Merger — we refer to this proposal as the “stock issuance proposal.” Please see the section entitled “Proposal No. 5 — The Stock Issuance Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the Incentive Plan and the material terms thereof, including the authorization of the initial share reserve thereunder — we refer to this proposal as the “incentive plan proposal.” A copy of the Incentive Plan is attached to this proxy statement/prospectus as Annex D. Please see the section entitled “Proposal No. 6 — The Incentive Plan Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the ESPP and the material terms thereof, including the authorization of the initial share reserve thereunder — we refer to this proposal as the “ESPP proposal.” A copy of the ESPP is attached to this proxy statement/prospectus as Annex E. Please see the section entitled “Proposal No. 7 — The ESPP Proposal”;</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, on a non-binding advisory basis, the election of directors to serve staggered terms on the Post-Closing Company Board following the consummation of the business combination until immediately following the date of the 2028, 2029 and 2030 annual stockholder meetings, as applicable, or in each case until their respective successors are duly elected and qualified, or until their earlier resignation, removal or death — we refer to this proposal as the “director election proposal” and, collectively with the business combination proposal, the domestication proposal, the organizational documents proposal, the stock issuance proposal, the incentive plan proposal and the ESPP proposal, the “condition precedent proposals.” Please see the section entitled “Proposal No. 8 — The Director Election Proposal”; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.5in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.1664861117129615%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">a proposal to approve, by ordinary resolution, the adjournment of the extraordinary general meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of any of the proposals at the extraordinary general meeting— we refer to this proposal as the “adjournment proposal.” Please see the section entitled “Proposal No. 9 — The Adjournment Proposal.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon consummation of the business combination, it is expected that each Class I director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2028, each Class II director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2029 and each Class III director will have a term that expires at the annual meeting of stockholders of the Post-Closing Company in 2030, or in each case until their respective successors are duly elected and qualified, or until their earlier resignation, removal or death. Please see the sections entitled “Proposal No. 8 — The Director Election Proposal” and “Management After the Business Combination” for additional information.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Any assumed Closing Date used throughout this proxy statement/prospectus is for illustrative purposes only and is not intended to be a projection of the actual Closing Date.</div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">On September 2, 2026, TVA III entered into the Merger Agreement, which, among other things and subject to the terms and conditions contained therein, provides for (1) the Domestication, which is the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware, and (2) following the Domestication, the Merger, which consists of two mergers -- the merger of Merger Sub I with and into PlusAI, with PlusAI continuing as the surviving corporation and a wholly owned subsidiary of TVA III, and immediately thereafter, the merger of PlusAI with and into Merger Sub II, with Merger Sub II continuing as the surviving entity as a wholly owned subsidiary of TVA III.</div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the terms of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants, will be (1) the Equity Value of $800,000,000, which consideration will be paid entirely in shares of Post-Closing common stock, par value $0.0001 per share, in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to certain eligible holders of pre-Closing securities of PlusAI during the five-year Earnout Period following the Closing, in three tranches consisting of 21,000,000 Earnout Shares each, upon the satisfaction of certain price targets, which will be based upon (a) the volume-weighted average price of one share of Post-Closing Company Class A common stock as quoted on the Capital Market tier of Nasdaq or the exchange on which the shares of Post-Closing Company Class A common stock are then traded, for any 20 trading days within any 180 consecutive trading day period within the Earnout Period or (b) if the Post-Closing Company undergoes a Change in Control, the price per share received by stockholders of the Post-Closing Company in such Change in Control transaction (or if consideration is not received by stockholders of the Post-Closing Company, the price per share implied by such transaction). At the Effective Time, each share of PlusAI common stock issued and outstanding immediately prior to the Closing (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio, which is based on the Per Share Equity Value (calculated in accordance with the Merger Agreement); provided that shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or as a result of the exercise of any PlusAI Option granted under the 2021 Plan will be exchanged for shares of Class C common stock of the Post-Closing Company, which entitle the holder to one-quarter (1/4th) of a vote per share. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, at the Closing, we estimate that approximately 77,150,657 shares of Post-Closing Company common stock will be issued to holders of PlusAI common stock in the Merger, in exchange for all outstanding shares of PlusAI common stock (including shares of PlusAI common stock resulting from the conversion of PlusAI preferred stock and PlusAI SAFEs immediately prior to the Closing and PlusAI Class A common stock issued pursuant to the Share Issuance Agreements in connection with the PIPE Investment and the Convertible Notes). We also estimate that we will reserve for issuance up to (1) 4,368,910 shares of Post-Closing Company common stock in respect of the PlusAI options and unvested PlusAI RSUs assumed pursuant to the terms of the Merger Agreement and (2) 18,510,906 shares of Post-Closing Company common stock in respect of the PlusAI warrants assumed pursuant to the terms of the Merger Agreement. The reserved shares referred to in clause (1) of the immediately preceding sentence are not included in the 214,480,313 shares the sale and issuance of which are registered by this registration statement, are not subject to registration rights but will be registered in a registration statement on Form S-8 to the extent that such PlusAI options and unvested PlusAI RSUs were granted to service providers of PlusAI. Additionally, we will issue up to an aggregate of 63,000,000 shares of Post-Closing Company common stock to Eligible PlusAI Equityholders upon the </div></div></div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">occurrence of an Earnout Triggering Event during the Earnout Period. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Merger Consideration.” </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon completion of the business combination, (1) PlusAI stockholders are expected to hold an ownership interest of 72% of the issued and outstanding Post-Closing Company common stock, (2) the Sponsor is expected to hold an ownership interest of 7% of the issued and outstanding Post-Closing Company common stock and (3) TVA III Public Shareholders are expected to hold an ownership interest of 21% of the issued and outstanding Post-Closing Company common stock. These levels of ownership interest (1) assumes no equity financings, other than the PIPE Investment, will occur prior to completion of the business combination, (2) assume that (a) no TVA III Public Shareholder exercises their redemption rights in connection with the Transactions, (b) no TVA III Class A Common Stock is issued to the Sponsor in connection with the conversion of unpaid amounts under the Working Capital Loans, and (c) there are no other issuances of equity interests of TVA III or PlusAI and (3) do not take into account (a) any assumed PlusAI options that may be exercised after the consummation of the business combination, for which an estimated 2,389,994 shares of Post-Closing Company common stock are expected to be reserved, (b) any assumed unvested PlusAI RSUs that may vest after the consummation of the business combination, for which an estimated 1,978,916 shares of Post-Closing Company stock are expected to be reserved, (c) any assumed PlusAI warrants that may be exercised after the consummation of the business combination, for which an estimated 18,510,906 shares of Post-Closing Company common stock are expected to be reserved, (d) any Earnout Shares (up to an aggregate of 63,000,000 Post-Closing Company common stock) that may be issued upon the occurrence of an Earnout Triggering Event during the Earnout Period, or (e) the potential issuance of any shares of Post-Closing Company common stock reserved for issuance under the Incentive Plan and the ESPP. The estimated Exchange Ratio of 0.044 reflects PlusAI capital stock outstanding of June 30, 2026 and PlusAI SAFEs outstanding as of June 30, 2026. If the actual facts are different from these assumptions, TVA III Public Shareholders’ percentage ownership in the Post-Closing Company will be different. For a table illustrating each scenario, see “Questions and Answers about the Business Combination — Questions and Answers for TVA III shareholders about the extraordinary general meeting and the business combination — What equity stake will current TVA III shareholders and PlusAI stockholders hold in the Post-Closing Company immediately after the consummation of the business combination?”</div></div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the terms of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants, will be (1) the Equity Value of $800,000,000, which consideration will be paid entirely in shares of Post-Closing common stock, par value $0.0001 per share, in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to certain eligible holders of pre-Closing securities of PlusAI during the five-year Earnout Period following the Closing, in three tranches consisting of 21,000,000 Earnout Shares each, upon the satisfaction of certain price targets, which will be based upon (a) the volume-weighted average price of one share of Post-Closing Company Class A common stock as quoted on the Capital Market tier of Nasdaq or the exchange on which the shares of Post-Closing Company Class A common stock are then traded, for any 20 trading days within any 180 consecutive trading day period within the Earnout Period or (b) if the Post-Closing Company undergoes a Change in Control, the price per share received by stockholders of the Post-Closing Company in such Change in Control transaction (or if consideration is not received by stockholders of the Post-Closing Company, the price per share implied by such transaction). At the Effective Time, each share of PlusAI common stock issued and outstanding immediately prior to the Closing (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio, which is based on the Per Share Equity Value (calculated in accordance with the Merger Agreement); provided that shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or as a result of the exercise of any PlusAI Option granted under the 2021 Plan will be exchanged for shares of Class C common stock of the Post-Closing Company, which entitle the holder to one-quarter (1/4th) of a vote per share. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, at the Closing, we estimate that approximately 77,150,657 shares of Post-Closing Company common stock will be issued to holders of PlusAI common stock in the Merger, in exchange for all outstanding shares of PlusAI common stock (including shares of PlusAI common stock resulting from the conversion of PlusAI preferred stock and PlusAI SAFEs immediately prior to the Closing and PlusAI Class A common stock issued pursuant to the Share Issuance Agreements in connection with the PIPE Investment and the Convertible Notes). We also estimate that we will reserve for issuance up to (1) 4,368,910 shares of Post-Closing Company common stock in respect of the PlusAI options and unvested PlusAI RSUs assumed pursuant to the terms of the Merger Agreement and (2) 18,510,906 shares of Post-Closing Company common stock in respect of the PlusAI warrants assumed pursuant to the terms of the Merger Agreement. The reserved shares referred to in clause (1) of the immediately preceding sentence are not included in the 214,480,313 shares the sale and issuance of which are registered by this registration statement, are not subject to registration rights but will be registered in a registration statement on Form S-8 to the extent that such PlusAI options and unvested PlusAI RSUs were granted to service providers of PlusAI. Additionally, we will issue up to an aggregate of 63,000,000 shares of Post-Closing Company common stock to Eligible PlusAI Equityholders upon the </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">occurrence of an Earnout Triggering Event during the Earnout Period. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Merger Consideration.” </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Upon completion of the business combination, (1) PlusAI stockholders are expected to hold an ownership interest of 72% of the issued and outstanding Post-Closing Company common stock, (2) the Sponsor is expected to hold an ownership interest of 7% of the issued and outstanding Post-Closing Company common stock and (3) TVA III Public Shareholders are expected to hold an ownership interest of 21% of the issued and outstanding Post-Closing Company common stock. These levels of ownership interest (1) assumes no equity financings, other than the PIPE Investment, will occur prior to completion of the business combination, (2) assume that (a) no TVA III Public Shareholder exercises their redemption rights in connection with the Transactions, (b) no TVA III Class A Common Stock is issued to the Sponsor in connection with the conversion of unpaid amounts under the Working Capital Loans, and (c) there are no other issuances of equity interests of TVA III or PlusAI and (3) do not take into account (a) any assumed PlusAI options that may be exercised after the consummation of the business combination, for which an estimated 2,389,994 shares of Post-Closing Company common stock are expected to be reserved, (b) any assumed unvested PlusAI RSUs that may vest after the consummation of the business combination, for which an estimated 1,978,916 shares of Post-Closing Company stock are expected to be reserved, (c) any assumed PlusAI warrants that may be exercised after the consummation of the business combination, for which an estimated 18,510,906 shares of Post-Closing Company common stock are expected to be reserved, (d) any Earnout Shares (up to an aggregate of 63,000,000 Post-Closing Company common stock) that may be issued upon the occurrence of an Earnout Triggering Event during the Earnout Period, or (e) the potential issuance of any shares of Post-Closing Company common stock reserved for issuance under the Incentive Plan and the ESPP. The estimated Exchange Ratio of 0.044 reflects PlusAI capital stock outstanding of June 30, 2026 and PlusAI SAFEs outstanding as of June 30, 2026. If the actual facts are different from these assumptions, TVA III Public Shareholders’ percentage ownership in the Post-Closing Company will be different. For a table illustrating each scenario, see “Questions and Answers about the Business Combination — Questions and Answers for TVA III shareholders about the extraordinary general meeting and the business combination — What equity stake will current TVA III shareholders and PlusAI stockholders hold in the Post-Closing Company immediately after the consummation of the business combination?”</div></div> The Business CombinationStructure of the TransactionsOn September 2, 2026, TVA III entered into the Merger Agreement with Merger Subs and PlusAI. Pursuant to the Merger Agreement, the parties thereto will effect the business combination by which (1) the transfer of TVA III by way of continuation out of the Cayman Islands and domestication as a corporation incorporated under the laws of the State of Delaware (the “Domestication”), and (2) following the Domestication, Merger Sub I will merge with and into PlusAI, with PlusAI continuing as the surviving corporation and a wholly owned subsidiary of TVA III, and immediately thereafter, PlusAI will merge with and into Merger Sub II, with Merger Sub II continuing as the surviving entity as a wholly owned subsidiary of TVA III (collectively, the “Merger”).Merger Consideration<div style="font-size:10pt;font-family:Times New Roman;">PlusAI will take all actions necessary or appropriate so that, immediately prior to the Closing, (1) all shares of PlusAI preferred stock will be converted into shares of PlusAI common stock (the “Preferred Conversion”) and (2) all PlusAI SAFEs will be converted into shares of PlusAI common stock in accordance with the terms of such PlusAI SAFEs, in each case pursuant to the terms of the Merger Agreement (the “SAFE Conversion” and, together with the Preferred Conversion, the “Conversion”). With respect to shares of PlusAI Class B common stock, all such shares will convert into Post-Closing Company Class B common stock in connection with the Merger. With respect to shares of PlusAI LV preferred stock, all such shares will convert into PlusAI Class A common stock, which will convert into Post-Closing Company Class C common stock in connection with the Merger. See the section entitled “Description of Securities” for more information regarding the voting rights of the Post-Closing Company Class B common stock and Post-Closing Company Class C common stock. All of the PlusAI preferred stock and PlusAI SAFEs which convert into PlusAI common stock will no longer be outstanding, and each holder of PlusAI preferred stock and PlusAI SAFEs will thereafter cease to have any rights with respect to such PlusAI preferred stock and PlusAI SAFEs, respectively.</div>Subject to the terms of the Merger Agreement, the value of the aggregate consideration to be paid to PlusAI stockholders and holders of PlusAI SAFEs, vested PlusAI RSUs, vested PlusAI options and vested PlusAI warrants, will be (1) $800,000,000 (the “Equity Value”), which consideration will be paid entirely in shares of Post-Closing Company common stock in an amount equal to $10.00 per share, in addition to (2) the contingent right to receive up to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing, which will be issued to Eligible PlusAI Equityholders during the Earnout Period, in three tranches consisting of 21,000,000 shares each, in each case that will be issued upon the occurrence of an Earnout Triggering Event during the Earnout Period. The price targets for the Earnout Triggering Events will be based on the VWAP of the applicable shares for any 20 trading days within any 180 consecutive trading day period within the Earnout Period. Each share of PlusAI Class A common stock issued and outstanding immediately prior to the Closing (after giving effect to the Conversion, but other than Excluded Shares and Dissenting Shares), other than shares of PlusAI Class B common stock and shares issued as a result of the conversion of PlusAI Series A-3-X Preferred Stock, PlusAI Series A-4-X Preferred Stock or PlusAI Series B-X Preferred Stock or the exercise of any PlusAI Option granted under the 2021 Plan, will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company Class A common stock equal to the Exchange Ratio. Each share of PlusAI Class B common stock will be automatically surrendered and exchanged for the right to receive a number of shares of Post-Closing Company Class B common stock equal to the Exchange Ratio. The shares of PlusAI Class A Common Stock issued as a result of the specified preferred stock conversions or 2021 Plan option exercises will be exchanged for Post-Closing Company Class C common stock, in each case based on the Exchange Ratio. Subject to the assumptions described herein, as of the date of this proxy statement/prospectus, we estimate that the Exchange Ratio will be approximately 0.0440 shares of Post-Closing Company common stock for each issued and outstanding share of PlusAI common stock. See the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Structure of the Transactions.”At the Effective Time, by virtue of the Merger and without any further action on the part of TVA III, Merger Sub, PlusAI or any holder of any securities of TVA III or PlusAI, the following will occur:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Each share of PlusAI common stock (including shares of PlusAI common stock issued upon the Conversion and shares of PlusAI Class A common stock issued pursuant to the Share Issuance Agreements in connection with the PIPE Investment and the Convertible Notes) issued and outstanding immediately prior to the Effective Time (other than Excluded Shares and Dissenting Shares) will be automatically surrendered and exchanged for (1) the right to receive a number of shares of Post-Closing Company common stock equal to the Exchange Ratio and (2) the contingent right to receive Earnout Shares that may be issued during the Earnout Period, in each case in accordance with the terms of the Merger Agreement.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Each issued and outstanding share of common stock of Merger Sub I will be converted into and become one validly issued, fully paid and nonassessable share of common stock of PlusAI, which will constitute the only outstanding shares of common stock of PlusAI as the surviving corporation of the first merger, and, immediately thereafter in the second merger, each issued and outstanding share of common stock of PlusAI will be cancelled and retired and each issued and outstanding membership interest of Merger Sub II will remain outstanding and constitute all of the membership interests of the surviving entity as a wholly owned subsidiary of TVA III, as the Post-Closing Company.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Each share of PlusAI capital stock held in PlusAI’s treasury or owned by TVA III, Merger Sub I or PlusAI immediately prior to the Effective Time (each, an “Excluded Share”) will automatically be cancelled or surrendered (as applicable) and no consideration will be paid or payable with respect thereto.</div></div>For more information regarding the sources and uses of the funds utilized to consummate the business combination, please see the section entitled “Proposal No. 1 — The Business Combination Proposal — Sources and Uses of Funds for the Transactions.”Exchange and Fractional SharesImmediately prior to or at the Effective Time, TVA III will deposit, or cause to be deposited, with Continental Stock Transfer & Trust Company (the “Exchange Agent”) evidence in book-entry form of shares of Post-Closing Company common stock representing the number of shares of Post-Closing Company common stock sufficient to deliver the Merger Consideration (as defined in the Merger Agreement).At or prior to the Effective Time, TVA III will instruct the Exchange Agent to issue to each PlusAI stockholder the portion of the Merger Consideration to which that PlusAI stockholder is entitled to at the Closing pursuant to the Merger Agreement at or promptly after the Closing.Notwithstanding anything to the contrary as described in the Merger Agreement, no fraction of a share of TVA III Class A Common Stock will be issued by virtue of the Merger Agreement or the Transactions, and each PlusAI stockholder that would otherwise be entitled to a fraction of a share of TVA III Class A Common Stock (after aggregating all TVA III Class A Ordinary Shares to which such PlusAI stockholder otherwise would be entitled) will instead have the number of TVA III Class A Ordinary Shares issued to such PlusAI stockholder rounded up or down to the nearest whole share of TVA III Class A Common Stock (with 0.5 of a share or greater rounded up), as applicable.Treatment of PlusAI Options, PlusAI RSUs and PlusAI WarrantsExcept as the parties may otherwise mutually agree, at the Effective Time, each outstanding and unexercised PlusAI option (whether or not vested) will be assumed by the Post-Closing Company and become an option to purchase shares of Post-Closing Company common stock, on the same terms and conditions (including applicable vesting, exercise and expiration provisions) as applied to each such option immediately prior to the Effective Time, except that (1) the number of shares of Post-Closing Company common stock subject to such option will equal (a) the number of shares of PlusAI common stock that were subject to such option immediately prior to the Effective Time multiplied by (b) the Exchange Ratio, rounded down to the nearest whole share, and (2) the per share exercise price will equal (a) the exercise price per share of PlusAI common stock at which such option was exercisable immediately prior to the Effective Time, divided by (b) the Exchange Ratio, rounded up to the nearest whole cent. All incentive stock options will be adjusted in accordance with the requirements of Section 424 of the Code and will be adjusted in a manner that complies with or is exempt from Section 409A of the Code.At the Effective Time, each outstanding PlusAI RSU that is unvested as of immediately prior to the Effective Time will be assumed by the Post-Closing Company and converted into the right to receive restricted stock units subject to shares of Post-Closing Company common stock, on the same terms and conditions (including applicable vesting, settlement and termination provisions) as applied to each such PlusAI RSU immediately prior to the Effective Time, except that the number of shares of Post-Closing Company common stock subject to such PlusAI RSU will equal (1) the number of shares of PlusAI common stock that were subject to such PlusAI RSU immediately prior to the Effective Time multiplied by (2) the Exchange Ratio, rounded down to the nearest whole share. All PlusAI RSUs will be adjusted in a manner that complies with or is exempt from Section 409A of the Code.At the Effective Time, each PlusAI warrant will be treated in accordance with the terms of such PlusAI warrant and the Merger Agreement and become a Post-Closing Company assumed warrant.EarnoutUp to an aggregate of 70,000,000 shares of Post-Closing Company common stock reduced by 7,000,000 shares allocated to the Post-Closing RSU Pool for future issuances resulting in 63,000,000 shares outstanding at the Closing will be issued to Eligible PlusAI Equityholders upon the occurrence of an Earnout Triggering Event during the Earnout Period (such shares, the “Earnout Shares”), in three tranches consisting of (1) 21,000,000 shares, (2) 21,000,000 shares and (3) 21,000,000 shares, in each case subject to adjustments and the applicable price target being achieved based on the VWAP for any 20 trading days within any 180 consecutive trading day period during the Earnout Period. Please see the section entitled “Proposal No. 1 — The Business Combination Proposal — General — Earnout.” PlusAI will take all actions necessary or appropriate so that, immediately prior to the Closing, (1) all shares of PlusAI preferred stock will be converted into shares of PlusAI common stock (the “Preferred Conversion”) and (2) all PlusAI SAFEs will be converted into shares of PlusAI common stock in accordance with the terms of such PlusAI SAFEs, in each case pursuant to the terms of the Merger Agreement (the “SAFE Conversion” and, together with the Preferred Conversion, the “Conversion”). With respect to shares of PlusAI Class B common stock, all such shares will convert into Post-Closing Company Class B common stock in connection with the Merger. With respect to shares of PlusAI LV preferred stock, all such shares will convert into PlusAI Class A common stock, which will convert into Post-Closing Company Class C common stock in connection with the Merger. See the section entitled “Description of Securities” for more information regarding the voting rights of the Post-Closing Company Class B common stock and Post-Closing Company Class C common stock. All of the PlusAI preferred stock and PlusAI SAFEs which convert into PlusAI common stock will no longer be outstanding, and each holder of PlusAI preferred stock and PlusAI SAFEs will thereafter cease to have any rights with respect to such PlusAI preferred stock and PlusAI SAFEs, respectively. <div>The existence of the financial and personal interests of the directors may result in a conflict of interest on the part of one or more of them between what such director may believe is best for TVA III and what such director may believe is best for such director in determining whether or not to grant a waiver in a specific situation.</div> The existence of the financial and personal interests of the directors may result in a conflict of interest on the part of one or more of them between what such director may believe is best for TVA III and what such director may believe is best for such director in determining whether or not to grant a waiver in a specific situation. true Sponsor Support AgreementConcurrently with the execution of the Merger Agreement, TVA III entered into the Sponsor Support Agreement with the Sponsor, TVA III, PlusAI and the Insiders. The following summary of material provisions of the Sponsor Support Agreement is qualified by reference to the complete text of the Sponsor Support Agreement, a copy of which is attached to the accompanying proxy statement/prospectus as Exhibit C to Annex A. All shareholders are encouraged to read the Sponsor Support Agreement in its entirety for a more complete description of the terms and conditions of the Sponsor Support Agreement.Pursuant to the terms of the Sponsor Support Agreement, the Sponsor agreed, among other things: (1) at the extraordinary general meeting to be present in person or by proxy and vote, or cause to be voted at such meeting, all Sponsor Securities and Sponsor Affiliate Securities, entitled to vote thereon (a) in favor of the SPAC Stockholder Matters and (b) in favor of any other matter reasonably necessary to the consummation of the transactions contemplated by the Merger Agreement and considered and voted upon at any extraordinary general meeting; (2) at the extraordinary general meeting to be present in person or by proxy and vote, or cause to be voted at such meeting, all Sponsor Securities and Sponsor Affiliate Securities entitled to vote thereon against (a) any business combination other than with the Company, its stockholders and their respective affiliates and representatives; (b) any merger, consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of TVA III; (c) any change in the business, management or board of directors of TVA III; and (d) certain other actions, proposals or agreements; and (3) if approval of the SPAC Extension is sought from TVA III’s shareholders, the Sponsor shall vote all of its TVA III Class B Ordinary Shares and any other shares acquired by the Sponsor in favor of any proposal approving such SPAC Extension. In addition, the Sponsor and the Insiders, automatically and without any further action by the Sponsor or TVA III, irrevocably (1) waive any adjustment to the conversion ratio set forth in the Existing SPAC Governing Document and any rights to other anti-dilution protections pursuant to the TVA III MAA, as adopted by special resolution on April 22, 2025, or otherwise, and, as a result, the shares of TVA III Class B Ordinary Shares shall convert into Post-Closing Company common stock (or such equivalent security) in connection with the Domestication and consummation of the Mergers on a one-for-one basis, and (2) agree not to assert or perfect any rights to adjustment or other anti-dilution protections, in each case, in connection with the Transactions. Furthermore, if all fees, costs and expenses of TVA III incurred prior to and through the Closing Date in connection with the Transactions (collectively, the “SPAC Transaction Expenses”), other than specified SPAC Transaction Expenses, exceed $7.5 million (the “Excess Amounts”), the Sponsor will, at its sole discretion, either (1) pay, or cause an affiliate of the Sponsor to pay, the Excess Amounts to TVA III or an account designated by TVA III in cash by wire transfer of immediately available funds or (2) forfeit such number of TVA III Class B Ordinary Shares or shares of TVA III Class A Ordinary Shares issued or issuable upon the conversion of such shares equal to ((x) the Excess Amounts minus (y) any cash amounts paid pursuant to clause (1)) divided by $10.00, subject to the limitation that the number of forfeited shares may not exceed the number of Founder Shares owned by the Sponsor as of the date of the Sponsor Support Agreement. The Sponsor Support Agreement does not provide for vesting and forfeiture of any TVA III Founder Shares based on the amount of the Available Closing SPAC Cash or the achievement of certain stock price performance after the Closing. Amended and Restated Registration Rights AgreementEffective upon the Closing, the Existing Registration Rights Agreement by and between TVA III, the Sponsor, CCM, and Clear Street LLC (“Clear Street,” and together with the Sponsor and CCM, the “Existing Holders”), dated April 22, 2025, has been amended and restated in its entirety as the A&R Registration Rights Agreement, with the Sponsor Affiliate and certain persons and entities receiving Post-Closing Company common stock in connection with the Mergers (together with the Existing Holders, the “Holders”) being added as parties to the A&R Registration Rights Agreement, a copy of which is filed as Exhibit E to the Merger Agreement attached as Annex A to this proxy statement/prospectus. The following summary of material provisions of the A&R Registration Rights Agreement is qualified by reference to the complete text of the A&R Registration Rights Agreement. All shareholders are encouraged to read the A&R Registration Rights Agreement in its entirety for a more complete description of its terms and conditions.Pursuant to the A&R Registration Rights Agreement, TVA III will use commercially reasonable efforts to (1) file with the SEC, at TVA III’s sole cost and expense, a registration statement registering the resale of certain securities held by or issuable to the Holders within 10 business days after the Closing (the “Resale Registration Statement”) and (2) cause the Resale Registration Statement to become effective as soon as reasonably practicable after the filing thereof, but in no event later than 45 business days after the Closing Date. In certain circumstances, the Holders may demand in the aggregate up to three underwritten offerings and will be entitled to customary piggyback registration rights. Pursuant to the A&R Registration Rights Agreement, subject to certain exceptions, the Holders have agreed not to transfer their respective shares for a period of 360 days following the Closing Date (the “Lock-Up Period”). Subject to certain exceptions to the termination of transfer restrictions with respect to shares of Post-Closing Company common stock issued as Earnout Shares (the “Lock-Up Earnout Shares”) or held directly or indirectly by certain founder executives of PlusAI (the “Plus Founder Shares”), such transfer restrictions terminate (1) as to 50% of a Holder’s shares upon the earlier of 180 days after the Closing (the “Reduced Lock-Up Period”) and the date on which the VWAP of the Post-Closing Company Class A common stock equals or exceeds $12.50 per share during any 20 trading days within any 180 consecutive trading day period following the Closing, and (2) other than Lock-Up Earnout Shares and Plus Founder Shares, with respect to all of a Holder’s shares upon the date on which the VWAP of the Post-Closing Company Class A common stock equals or exceeds $15.00 per share during any 20 trading days within any 180 consecutive trading day period following the Closing. Furthermore, the Sponsor is not subject to certain other transfer restrictions as described in the A&R Registration Rights Agreement, and, with respect to all shares of Post-Closing Company Class A common stock into which the TVA III Class B Ordinary Shares convert upon the Domestication, the transfer restrictions will terminate 120 days after the Closing.Similar transfer restrictions will apply to the shares of Post-Closing Company common stock issued to former securityholders of PlusAI in connection with the Mergers pursuant to the Proposed Bylaws. Pursuant to the terms of the Sponsor Support Agreement, the Sponsor agreed, among other things: (1) at the extraordinary general meeting to be present in person or by proxy and vote, or cause to be voted at such meeting, all Sponsor Securities and Sponsor Affiliate Securities, entitled to vote thereon (a) in favor of the SPAC Stockholder Matters and (b) in favor of any other matter reasonably necessary to the consummation of the transactions contemplated by the Merger Agreement and considered and voted upon at any extraordinary general meeting; (2) at the extraordinary general meeting to be present in person or by proxy and vote, or cause to be voted at such meeting, all Sponsor Securities and Sponsor Affiliate Securities entitled to vote thereon against (a) any business combination other than with the Company, its stockholders and their respective affiliates and representatives; (b) any merger, consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of TVA III; (c) any change in the business, management or board of directors of TVA III; and (d) certain other actions, proposals or agreements; and (3) if approval of the SPAC Extension is sought from TVA III’s shareholders, the Sponsor shall vote all of its TVA III Class B Ordinary Shares and any other shares acquired by the Sponsor in favor of any proposal approving such SPAC Extension. In addition, the Sponsor and the Insiders, automatically and without any further action by the Sponsor or TVA III, irrevocably (1) waive any adjustment to the conversion ratio set forth in the Existing SPAC Governing Document and any rights to other anti-dilution protections pursuant to the TVA III MAA, as adopted by special resolution on April 22, 2025, or otherwise, and, as a result, the shares of TVA III Class B Ordinary Shares shall convert into Post-Closing Company common stock (or such equivalent security) in connection with the Domestication and consummation of the Mergers on a one-for-one basis, and (2) agree not to assert or perfect any rights to adjustment or other anti-dilution protections, in each case, in connection with the Transactions. Furthermore, if all fees, costs and expenses of TVA III incurred prior to and through the Closing Date in connection with the Transactions (collectively, the “SPAC Transaction Expenses”), other than specified SPAC Transaction Expenses, exceed $7.5 million (the “Excess Amounts”), the Sponsor will, at its sole discretion, either (1) pay, or cause an affiliate of the Sponsor to pay, the Excess Amounts to TVA III or an account designated by TVA III in cash by wire transfer of immediately available funds or (2) forfeit such number of TVA III Class B Ordinary Shares or shares of TVA III Class A Ordinary Shares issued or issuable upon the conversion of such shares equal to ((x) the Excess Amounts minus (y) any cash amounts paid pursuant to clause (1)) divided by $10.00, subject to the limitation that the number of forfeited shares may not exceed the number of Founder Shares owned by the Sponsor as of the date of the Sponsor Support Agreement. <div style="font-size:10pt;font-family:Times New Roman;">Redemption RightsPursuant to the TVA III MAA, any holder of TVA III public shares that is not the Sponsor, a TVA III officer or director, or an affiliate thereof, including the Sponsor Affiliate, may, contemporaneously with the vote on the business combination proposal, demand that TVA III redeem such shares for cash if the business combination is consummated. Holders of TVA III public shares will be entitled to receive cash for these shares only if they demand in writing that TVA III redeem their TVA III public shares for cash and deliver their TVA III public shares to Continental Stock Transfer & Trust Company, TVA III’s transfer agent, no later than the second business day prior to the vote on the business combination proposal. If the business combination is not completed, the TVA III public shares will not be redeemed. If a holder of TVA III public shares properly exercises their redemption rights and the business combination is consummated, TVA III will redeem such shares for cash in an amount equal to their pro rata portion of the funds held in the trust account, net of taxes payable, calculated as of two business days prior to the consummation of the business combination. As of the TVA III Record Date, this would amount to approximately $ per share. In such case, such holder of TVA III public shares will be exchanging their shares for cash and will no longer own such shares. Please see the section entitled “Extraordinary General Meeting of TVA III — Redemption Rights” for a detailed description of the procedures to be followed if you wish to redeem your TVA III public shares for cash.Notwithstanding the foregoing, a holder of TVA III public shares, together with any affiliate of such holder or any other person with whom such holder is acting in concert or as a “group” (as defined in Section 13(d)(3) of the Exchange Act), will be restricted from seeking redemption rights with respect to more than 15% of the TVA III public shares.Accordingly, all TVA III public shares in excess of 15% held by a TVA III public shareholder, together with any affiliate of such holder or any other person with whom such holder is acting in concert or was a “group,” will not be redeemed for cash.The business combination will not be consummated if TVA III has net tangible assets of less than $5,000,001 after taking into account holders of TVA III public shares that have properly demanded redemption of their shares for cash on the date that is two business days prior to the date of the extraordinary general meeting. However, because Sponsor Affiliate holds 1,050,000 public shares and has agreed pursuant to the terms of the Forward Purchase Agreement not to redeem its shares in contemplation of the business combination, it is not expected that TVA III would be left with less than $5,000,001 of net tangible assets as a result of redemptions by the holders of TVA III public shares.Pursuant to the New Insider Letter, the Sponsor and the Insiders have agreed to waive their redemption rights with respect to all of their TVA III Ordinary Shares in connection with the consummation of the business combination and, because of this, such TVA III Ordinary Shares are excluded from the pro rata calculation used to determine the per share redemption price. In addition, pursuant to the Sponsor Support Agreement, the Sponsor and the Insiders have agreed to vote their TVA III Ordinary Shares in favor of the Transactions and other SPAC Stockholder Matters. As is customary in transactions of this type, the Sponsor and the Insiders did not receive any consideration for these obligations.</div> Redemption RightsPursuant to the TVA III MAA, any holder of TVA III public shares that is not the Sponsor, a TVA III officer or director, or an affiliate thereof, including the Sponsor Affiliate, may, contemporaneously with the vote on the business combination proposal, demand that TVA III redeem such shares for cash if the business combination is consummated. Holders of TVA III public shares will be entitled to receive cash for these shares only if they demand in writing that TVA III redeem their TVA III public shares for cash and deliver their TVA III public shares to Continental Stock Transfer & Trust Company, TVA III’s transfer agent, no later than the second business day prior to the vote on the business combination proposal. If the business combination is not completed, the TVA III public shares will not be redeemed. If a holder of TVA III public shares properly exercises their redemption rights and the business combination is consummated, TVA III will redeem such shares for cash in an amount equal to their pro rata portion of the funds held in the trust account, net of taxes payable, calculated as of two business days prior to the consummation of the business combination. As of the TVA III Record Date, this would amount to approximately $ per share. In such case, such holder of TVA III public shares will be exchanging their shares for cash and will no longer own such shares. Please see the section entitled “Extraordinary General Meeting of TVA III — Redemption Rights” for a detailed description of the procedures to be followed if you wish to redeem your TVA III public shares for cash.Notwithstanding the foregoing, a holder of TVA III public shares, together with any affiliate of such holder or any other person with whom such holder is acting in concert or as a “group” (as defined in Section 13(d)(3) of the Exchange Act), will be restricted from seeking redemption rights with respect to more than 15% of the TVA III public shares.Accordingly, all TVA III public shares in excess of 15% held by a TVA III public shareholder, together with any affiliate of such holder or any other person with whom such holder is acting in concert or was a “group,” will not be redeemed for cash.The business combination will not be consummated if TVA III has net tangible assets of less than $5,000,001 after taking into account holders of TVA III public shares that have properly demanded redemption of their shares for cash on the date that is two business days prior to the date of the extraordinary general meeting. However, because Sponsor Affiliate holds 1,050,000 public shares and has agreed pursuant to the terms of the Forward Purchase Agreement not to redeem its shares in contemplation of the business combination, it is not expected that TVA III would be left with less than $5,000,001 of net tangible assets as a result of redemptions by the holders of TVA III public shares.Pursuant to the New Insider Letter, the Sponsor and the Insiders have agreed to waive their redemption rights with respect to all of their TVA III Ordinary Shares in connection with the consummation of the business combination and, because of this, such TVA III Ordinary Shares are excluded from the pro rata calculation used to determine the per share redemption price. In addition, pursuant to the Sponsor Support Agreement, the Sponsor and the Insiders have agreed to vote their TVA III Ordinary Shares in favor of the Transactions and other SPAC Stockholder Matters. As is customary in transactions of this type, the Sponsor and the Insiders did not receive any consideration for these obligations. true Appraisal Rights of TVA III ShareholdersTVA III shareholders do not have appraisal rights in connection with the Transactions under the DGCL or the Companies Act. false The TVA III Board’s Reasons for Approval of the Business CombinationThe TVA III Board, in evaluating the Transactions, consulted with TVA III’s management and financial, strategic and legal advisors. The TVA III Board considered a number of factors pertaining to the Transactions as generally supporting its decision to enter into the Merger Agreement, the related agreements to which TVA III is a party, and the Transactions. The TVA III Board did not consider it practicable to, and did not attempt to, quantify or otherwise assign relative weights to the specific factors it considered in reaching its determination. In addition, individual directors may have given different weight to different factors. The TVA III Board viewed its decision as being based on all of the information available and the factors presented to and considered by it. For a description of the TVA III Board’s reasons for the approval of the Business Combination, see the section entitled “Proposal No. 1 — The Business Combination Proposal — The TVA III Board’s Reasons for Approval of the Business Combination.”The PlusAI Board’s Reasons for Approval of the Business CombinationIn reaching its decision to approve the business combination, the PlusAI Board consulted with PlusAI’s management, as well as its financial and legal advisors, and considered a number of factors, including its knowledge of PlusAI’s business, operations, financial condition, competitive position and prospects. In view of the wide variety of factors considered by the PlusAI Board in connection with the evaluation of the business combination and the complexity of these matters, the PlusAI Board did not find it practicable to, and did not, quantify or otherwise assign relative weights to the specific factors considered in reaching its determination and recommendation. The judgments of individual members of the PlusAI Board may have been influenced to a greater or lesser degree by different factors. The PlusAI Board ultimately concluded that, in the aggregate, the potential benefits of the business combination outweighed the potential risks or negative consequences of the business combination. For a description of the Plus AI Board’s reasons for the approval of the Business Combination, see the section entitled “Proposal No. 1 — The Business Combination Proposal — The Plus AI Board’s Reasons for Approval of the Transactions.” <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.0301157028199346%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">The Sponsor (including its representatives and affiliates) and TVA III’s directors and officers presently have, and any of them in the future may have additional, fiduciary, contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entities. Accordingly, if any of such officers or directors become aware of a business combination opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such other entity, subject to their fiduciary duties under Cayman Islands law. The TVA III Articles provide that, to the fullest extent permitted by law: (1) no individual serving as a director or an officer, among other persons, shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as TVA III, and (2) TVA III renounces any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which (a) may be a corporate opportunity for any director or officer, on the one hand, and TVA III, on the other or (b) the presentation of which would breach an existing legal obligation of a director or officer to any other entity. TVA III does not believe that the fiduciary duties or contractual obligations of its officers or directors will materially affect TVA III’s ability to complete the initial business combination.</div></div> Sponsor and Affiliates CompensationThe following table sets forth the payments received by Sponsor and its affiliates from TVA III prior to or in connection with the completion of the initial business combination and the securities issued by TVA III to Sponsor or its affiliates: <table style="border-spacing:0;table-layout:auto;width:99.0%;border-collapse:separate;"> <tr style="visibility:collapse;"> <td style="width:27.273%;box-sizing:content-box;"></td> <td style="width:33.333%;box-sizing:content-box;"></td> <td style="width:39.394%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Entity/Individual</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Amount of Compensation Received or Securities Issued</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Consideration Paid or to be Paid</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Sponsor</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">7,500,000 TVA III Founder Shares and 4,700,000 TVA III Private Placement Warrants Up to $1,500,000 in Working Capital Loans, which loans are convertible, at the Sponsor’s election, upon the consummation of the business combination into units identical to the TVA III Public Units at a price of $10.00 per unit, rounded down to the nearest whole number. As of September 30, 2026, TVA III has incurred a Working Capital Loan in an aggregate principal amount of $250,000 through the issuance of a convertible unsecured promissory note to the Sponsor. Reimbursement for any out-of-pocket expenses related to identifying, investigation and completing an initial business combination</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">$7,400,000 Working Capital Loans to finance transaction costs in connection with an initial business combination Services in connection with identifying, investigating and completing an initial business combination</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Sponsor, our officers, directors, or our or their affiliates</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Finder’s fee, advisory fee, consulting fee or success fee</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.08in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.08in;">Any services they render in order to effectuate the completion of our initial business combination.We may engage one or more affiliates of our sponsor, officers or directors or their respective affiliates to provide additional services to us after this offering, including, for example, identifying potential targets or providing financial advisory services, and may pay such affiliates fair and reasonable fees or other compensation that would be determined at that time in an arm’s length negotiation.</td> </tr> </table> Sources and Uses of Funds for the TransactionsThe following tables summarize the sources and uses for funding the Transactions under the following scenarios: No Redemption ScenarioThese figures assume that (1) no TVA III Public Shareholders exercise their redemption rights in connection with the Transactions, (2) the Post-Closing Company issues 117,602,425 shares of Post-Closing Company common stock to PlusAI stockholders (which includes holders of PlusAI preferred stock, PlusAI common stock, and PlusAI SAFEs, that, pursuant to the Conversion, are converted to PlusAI common stock immediately prior to the Merger), and (3) there has been no additional incremental financing raised by PlusAI. If the actual facts are different from these assumptions, then the amounts and shares outstanding after the Closing will be different and those changes could be material. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:34.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.64%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.96%;box-sizing:content-box;"></td> <td style="width:39.12%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Sources</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Uses</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash in trust account stockholders(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash to balance sheet</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">266.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Cash Balances</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Transaction expenses(2)(3)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">29.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">PIPE Financing</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">61.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Redemption of TVA Class A shares held by TVA public stockholders</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash redemption of Plus SAFE</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Forward purchase agreement prepayments</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">11.1</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Total sources</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> Total uses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(1)<div style="display:inline;">Represents the trust account balance of $236.6 million as of June 30, 2026.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(2)<div style="display:inline;">Reflects the cash disbursement for the preliminary estimated direct and incremental transaction costs of $16.5 million to be incurred by TVA III prior to, or concurrent with, the closing, including (a) the deferred underwriting fees, (b) Advisory Fee payable, (c) other fees, costs and expenses related to the extension of directors’ and officers’ liability insurance by obtaining a six-year “tail” policy for TVA III current directors and officers and (d) repayments of amounts pursuant to the Working Capital Loans.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(3)<div style="display:inline;">Reflects preliminary estimated unpaid direct and incremental transaction costs incurred by PlusAI and TVA III prior to, or concurrent with, the closing.</div></div>25% Redemption ScenarioThese figures assume that (1) TVA III Public Shareholders holding an aggregate of 5,625,000 TVA III public shares exercise their redemption rights in connection with the Transactions, (2) the Post-Closing Company issues 117,602,425 shares of Post-Closing Company common stock to PlusAI stockholders (which includes holders of PlusAI preferred stock, PlusAI common stock, and PlusAI SAFEs, that, pursuant to the Conversion, are converted to PlusAI common stock immediately prior to the Merger), and (3) there has been no additional incremental financing raised by PlusAI. If the actual facts are different from these assumptions, then the amounts and shares outstanding after the Closing will be different and those changes could be material. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:34.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.64%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.96%;box-sizing:content-box;"></td> <td style="width:39.12%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Sources</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Uses</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash in trust account stockholders(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash to balance sheet</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">209.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Cash Balances</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Transaction expenses(2)(3)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">26.8</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">PIPE Financing</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">61.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Redemption of TVA Class A shares held by TVA public stockholders</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">59.1</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash redemption of Plus SAFE</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Forward purchase agreement prepayments</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">11.1</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Total sources</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> Total uses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(1)<div style="display:inline;">Represents the trust account balance of $236.6 million as of June 30, 2026.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(2)<div style="display:inline;">Reflects the cash disbursement for the preliminary estimated direct and incremental transaction costs of $16.5 million to be incurred by TVA III prior to, or concurrent with, the closing, including (a) the deferred underwriting fees, (b) Advisory Fee payable, (c) other fees, costs and expenses related to the extension of directors’ and officers’ liability insurance by obtaining a six-year “tail” policy for TVA III current directors and officers and (d) repayments of amounts pursuant to the Working Capital Loans.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(3)<div style="display:inline;">Reflects preliminary estimated unpaid direct and incremental transaction costs incurred by PlusAI and TVA III prior to, or concurrent with, the closing.</div></div>50% Redemption ScenarioThese figures assume that (1) TVA III public shareholders holding an aggregate of 11,250,000 TVA III public shares exercise their redemption rights in connection with the Transactions, (2) the Post-Closing Company issues 117,602,425 shares of Post-Closing Company common stock to PlusAI stockholders (which includes holders of PlusAI preferred stock, PlusAI common stock, and PlusAI SAFEs, that, pursuant to the Conversion, are converted to PlusAI common stock immediately prior to the Merger), and (3) there has been no additional incremental financing raised by PlusAI. If the actual facts are different from these assumptions, then the amounts and shares outstanding after the Closing will be different and those changes could be material. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:34.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.64%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.96%;box-sizing:content-box;"></td> <td style="width:39.12%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Sources</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Uses</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Implied Seller Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash in trust account stockholders(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash to balance sheet</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">152.8</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Cash Balances</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Transaction expenses(2)(3)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">24.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">PIPE Financing</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">61.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Redemption of TVA Class A shares held by TVA public stockholders</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">118.3</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash redemption of Plus SAFE</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Forward purchase agreement prepayments</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">11.1</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Total sources</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> Total uses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(1)<div style="display:inline;">Represents the trust account balance of $236.6 million as of June 30, 2026.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(2)<div style="display:inline;">Reflects the cash disbursement for the preliminary estimated direct and incremental transaction costs of $16.5 million to be incurred by TVA III prior to, or concurrent with, the closing, including (a) the </div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.169574501328056%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">deferred underwriting fees, (b) Advisory Fee payable, (c) other fees, costs and expenses related to the extension of directors’ and officers’ liability insurance by obtaining a six-year “tail” policy for TVA III current directors and officers and (d) repayments of amounts pursuant to the Working Capital Loans.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(3)<div style="display:inline;">Reflects preliminary estimated unpaid direct and incremental transaction costs incurred by PlusAI and TVA III prior to, or concurrent with, the closing.</div></div>Maximum Redemption ScenarioThese figures assume that (1) TVA III Public Shareholders holding an aggregate of 21,450,000 TVA III public shares exercise their redemption rights in connection with the Transactions (with the Sponsor Affiliate not redeeming its TVA III public shares), (2) the Post-Closing Company issues 117,602,425 shares of Post-Closing Company common stock to PlusAI stockholders (which includes holders of PlusAI preferred stock, PlusAI common stock, and PlusAI SAFEs, that, pursuant to the Conversion, are converted to PlusAI common stock immediately prior to the Merger), and (3) there has been no additional incremental financing raised by PlusAI. If the actual facts are different from these assumptions, then the amounts and shares outstanding after the Closing will be different and those changes could be material. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:34.34%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:9.64%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:2.96%;box-sizing:content-box;"></td> <td style="width:39.12%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:7.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Sources</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">Uses</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">($ in millions)</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Plus Shareholder Rollover Equity value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">800.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash in trust account stockholders(1)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash to balance sheet</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">49.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Existing Cash Balances</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">18.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Transaction expenses(2)(3)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">20.4</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">PIPE Financing</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">61.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Redemption of TVA Class A shares held by TVA public stockholders</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">225.5</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash redemption of Plus SAFE</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.0</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Forward purchase agreement prepayments</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">11.1</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">Total sources</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> Total uses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">1,116.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">(1)<div style="display:inline;">Represents the trust account balance of $236.6 million as of June 30, 2026.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(2)<div style="display:inline;">Reflects the cash disbursement for the preliminary estimated direct and incremental transaction costs of $16.5 million to be incurred by TVA III prior to, or concurrent with, the closing, including (a) the deferred underwriting fees, (b) Advisory Fee payable, (c) other fees, costs and expenses related to the extension of directors’ and officers’ liability insurance by obtaining a six-year “tail” policy for TVA III current directors and officers and (d) repayments of amounts pursuant to the Working Capital Loans.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:left;">(3)<div style="display:inline;">Reflects preliminary estimated unpaid direct and incremental transaction costs incurred by PlusAI and TVA III prior to, or concurrent with, the closing.</div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III’s officers and directors, and their affiliates are entitled to reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on TVA III’s behalf, such as identifying and investigating possible business targets and business combinations. As of the date of this proxy statement/prospectus, such reimbursement is estimated to be approximately $3,000 in the aggregate. However, if TVA III fails to consummate a business combination within the completion window, they will not have any claim against the trust account for reimbursement. Accordingly, TVA III may not be able to reimburse these expenses if the Transactions or another business combination are not completed within the completion window.</div></div> Background of the TransactionsThe terms of the Merger Agreement and the business combination are the result of arm’s-length negotiations between representatives of TVA III and representatives of PlusAI over the course of approximately four months. The following chronology summarizes the background of these negotiations and identifies the key meetings and events that led to the signing of the Merger Agreement. This chronology does not purport to catalogue every conversation or correspondence among representatives of the Parties.TVA III is a blank check company formed in order to effect a merger, amalgamation, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. TVA III was incorporated under the laws of the Cayman Islands on July 26, 2024. The business combination is the result of an extensive search by TVA III’s management team, including the TVA III Board, for a potential transaction, whereby TVA III evaluated potential targets utilizing TVA III’s global network and the investing, operating and transaction experience of the Sponsor, TVA III’s management team, and members of the TVA III Board. On April 24, 2025, TVA III completed the TVA III IPO. Prior to the consummation of the TVA III IPO, neither TVA III, nor anyone on its behalf, contacted any prospective target business or held any substantive discussions, formal or otherwise, with respect to a business combination or other transaction involving TVA III. After the TVA III IPO, TVA III, initially with the assistance of the Prior Sponsor and its advisors, commenced an active search for prospective businesses and assets to acquire.On September 18, 2025, the Prior Sponsor and the Sponsor entered into the Purchase Agreement, pursuant to which, the Sponsor (i) purchased from the Prior Sponsor (a) 7,500,000 TVA III Founder Shares and (b) 4,700,000 TVA III Private Placement Warrants for an aggregate purchase price of $7,400,000 and (ii) upon closing, became the Sponsor of TVA III, with a change in the management team of TVA III and the members of the TVA III Board.Following the change in the Sponsor and management team of TVA III and the members of the TVA III Board in September 2025, these parties on behalf of TVA III surveyed the landscape of potential acquisition opportunities based on their knowledge of, and familiarity with, the M&A and capital markets marketplace, to look for and evaluate potential business and assets to acquire in TVA III’s initial business combination. The TVA III Board and management have considerable experience in the financial services and financial technology industries, as well as with operational management, investment and financial analysis. As such, the TVA III Board members and management team believe that they are qualified to identify partners for a business combination.Initially, TVA III focused its efforts on identifying companies in the cryptocurrency and financial services sectors, but it was not required to limit its activities to any particular industry. In the evaluation of business combination partners, the TVA III Board and management team considered many factors. The TVA III Board did not consider it practicable or relevant to quantify or otherwise assign relative weights to the specific factors it considered in reaching its final decision. Important criteria that TVA III used in evaluating prospective business transaction opportunities include:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Financial value.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Opportunities for growth.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Technology and risk management infrastructure.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Strong management team.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Strength, reach, and yield opportunities.</div></div>TVA III’s management team employed various strategies to identify an appropriate target company, including:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Contacting investment banks, brokers and other members of the financial community that might be working with companies looking for exits or funding.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Caucusing TVA III’s officers and directors, as well as their affiliates, for target business candidates of which they become aware through their contacts.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:6pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Fielding inbound inquiries following the IPO from companies looking to access the public markets.</div></div>In general, TVA III looked for acquisition targets that were of a relevant size and positioned, operationally and financially, to be successful as a public company. TVA III further looked for those transactions that it believed, if entered into, would be well-received by the public markets. In particular, TVA III generally sought to identify companies that (1) were sourced through TVA III’s proprietary channels, (2) would benefit uniquely from TVA III’s capabilities, (3) have a committed and capable management team, (4) generate or have the future potential to generate stable free cash-flow and (5) have the potential to grow through both organic growth and acquisition opportunities. TVA III also sought to identify companies that it believed would benefit from being a publicly-held entity, particularly with respect to access to capital for both organic growth and for use in acquisitions, with a particular emphasis on companies with unique growth characteristics enabled by artificial intelligence. TVA III generally applied these criteria when evaluating potential targets.Shortly after the Sponsor became the sponsor of TVA III in September 2025, TVA III entered into a non-binding letter of intent with a potential target company in the cryptocurrency and financial services sector (“Company A”), after first entering into a non-disclosure agreement that contained customary terms for a special purpose acquisition company and a private company target, including confidentiality provisions and use restrictions for information provided by the target and exceptions to such provisions. Further, such non-disclosure agreement did not contain any standstill or “don’t ask, don’t waive” provisions. TVA III then commenced conducting diligence on Company A and negotiations of a business combination agreement as well as confidential discussions with potential investors in an initial business combination with Company A. These activities proceeded over the course of several months, but by February 2026, Company A and TVA III mutually determined not to proceed with a business combination, in significant part because Company A decided to pursue alternatives for raising capital to potential business combination with a special purpose acquisition company.Following the cessation of the discussions with Company A, the TVA III Board and management team continued a search for other potential target companies for an initial business combination. Mark Angelo, the Chairman of the TVA III Board, Mr. McGurn, during the time that he served as TVA III’s Chief Executive Officer, Troy Rillo, the current Chief Executive Officer and Chief Financial Officer of TVA III, and other individuals affiliated with either the Sponsor or its affiliates, reviewed target companies identified by them and other representatives of TVA III and its advisors. From the time that discussions with Company A ended, TVA III entered into non-disclosure agreements with six other potential business combination targets, including PlusAI and one other discussed below. Such non‑disclosure agreement did not contain any standstill or “don’t ask, don’t waive” provisions.In February 2026, an affiliate of the Sponsor, which had entered into other transactions with Trump Media & Technology Group Corp. (“TMTG”), became aware and informed TVA III management and the TVA III Board, that TMTG may be interested in a business combination for certain TMTG businesses, including the Truth Social social media business. On February 27, 2026, TVA III publicly announced that it was engaged in ongoing discussions with TMTG regarding a potential business combination with SpinCo, a new entity to be formed through a spin-off of certain TMTG businesses, including Truth Social. No non-binding term sheet or letter of intent was ever entered into, although there was a non-disclosure agreement with TMTG, as described in the prior paragraph. On April 21, 2026, TMTG announced that, as of such date, TVA III’s then Chief Executive Officer, Kevin J. McGurn, will serve as Interim Chief Executive Officer of TMTG. The next day, on April 22, 2026, Mr. McGurn, notified the TVA III Board of his resignation as Chief Executive Officer of TVA III, effective immediately. On June 10, 2026, it was announced that TVA III and TMTG had determined not to continue pursuing a potential business combination involving TVA III and SpinCo.In addition to PlusAI, Company A and TMTG, TVA III did not submit a non-binding letter of intent to any of these other four potential business combination targets with which it entered into a non-disclosure agreement as it chose not to move forward with a transaction with any of these four entities for the reasons described below. In connection with its evaluation of various potential business combination targets, representatives of TVA III had discussions regarding potential transaction structures with the members of management and/or the boards of directors of certain of these potential business combination targets. Following these discussions, the management of certain of these potential business combination targets determined that those entities were not ready at that time to become public or that they wanted to explore alternative transactions. For the others, TVA III decided not to proceed as it did not receive adequate information regarding the potential business combination targets necessary for TVA III to be able to make an assessment of the viability of these entities as a business combination target.On April 28, 2026, Jerry Serowik, a representative of CCM, and Robert Harrison, a representative of an affiliate of Sponsor, Yorkville Advisors (“Yorkville Advisors“) and TVA III, held an in-person meeting in Las Vegas, Nevada, during which they discussed the possibility of a potential business combination between TVA III and PlusAI, which had recently had a previously announced business combination with another special purpose acquisition company, Churchill Capital Corp IX, terminate prior to its consummation. That previously announced business combination had valued PlusAI at $1.2 billion. The discussion between Mr. Serowik and Mr. Harrison arose in the context of this recent termination of PlusAI’s previously announced business combination, and focused on the fact that PlusAI may be willing to consider a business combination with another special purpose acquisition company, but would look to do so at the same valuation as had been provided for in that terminated business combination. Mr. Serowik and Mr. Harrison discussed the potential strategic fit between TVA III and PlusAI and agreed to continue discussions regarding a potential transaction.Between May 5 and May 20, 2026, Mr. Serowik and Mr. Harrison held numerous telephone calls to discuss the potential terms of a business combination between TVA III and PlusAI. During these calls, the Mr. Serowik and Mr. Harrison discussed the framework for a potential transaction, explored potential partners for the business combination, and discussed a potential commitment to a private investment in public equity (“PIPE”) financing from Sponsor Affiliate and other potential investors in connection with the proposed transaction.On May 21, 2026, Mr. Serowik, Mr. Harrison and Josef Valdman, a Partner at NEOS Investments and the Chief Executive Officer of Perimeter Acquisition Corp. (“Perimeter”), which had previously had discussions with PlusAI regarding a potential business combination, held a videoconference call to discuss the possibility of Perimeter partnering with TVA III on a business combination with PlusAI. During the call, Mr. Valdman and Mr. Harrison discussed the potential structure and merits of partnering on the transaction. At the conclusion of the call, Mr. Valdman and Mr. Harrison agreed for TVA III and Perimeter to partner on the proposed business combination between PlusAI and TVA III. Following the call, CCM delivered to Mr. Harrison the latest draft of the term sheet for a business combination that had been prepared between Perimeter and PlusAI for Mr. Harrison’s review.Also on May 21, 2026, PlusAI and TVA III entered into a mutual non-disclosure agreement to facilitate further discussions and the exchange of confidential information in connection with the proposed transaction. Later that evening, Mr. Harrison returned a markup of the term sheet to CCM with proposed revisions reflecting TVA III’s comments on the terms of the proposed business combination.On May 22, 2026, representatives of CCM, TVA III, Perimeter and PlusAI held their first organizational meeting via videoconference to discuss the proposed business combination and related workstreams. Attendees at the meeting included Mr. Serowik and Brandon Sun of CCM, Mr. Valdman of Perimeter, Bryant Park, David Liu and Derrick Nueman of PlusAI, Mr. Harrison and Chris Pento of Yorkville Advisors as representatives of TVA III, and Curtis Mo of DLA Piper LLP (US) (“DLA Piper”), outside legal counsel to TVA III. Additional representatives of CCM and Wilson Sonsini Goodrich & Rosati (“WSGR”), outside legal counsel to PlusAI, also participated in the meeting. The parties discussed initial organizational matters, including the anticipated timeline, key workstreams and the allocation of responsibilities among the parties and their respective advisors in furtherance of the proposed transaction. During this meeting, it was discussed that although Perimeter had previously been discussing a business combination with PlusAI as it sought to negotiate a term sheet in furtherance of such a transaction, that any business combination would instead be between TVA III and PlusAI. The parties also discussed moving forward with preparing a Merger Agreement using the $1.2 billion valuation for PlusAI that had been provided in the previous business combination with Churchill Capital Corp IX.On May 26, 2026, representatives of CCM, TVA III, Perimeter and PlusAI held a follow-up organizational meeting to continue the discussions initiated during the May 22 meeting, including further discussion of the structure and timeline for the proposed business combination.On May 27, 2026, PlusAI and TVA III held a commercial diligence call, during which PlusAI’s management team provided TVA III with an overview of PlusAI’s business, operations and commercial strategy. Attendees at the meeting included Mr. Park, Mr. Nueman, Mr. Liu, Shawn Kerrigan and Earl Adams Jr. of PlusAI, and Mr. Harrison for TVA III and Sponsor Affiliate. During the call, PlusAI management addressed questions from Mr. Harrison regarding PlusAI’s technology, market positioning, revenue model and growth prospects, as the parties continued to advance their respective due diligence efforts in connection with the proposed transaction.From June 1, 2026 to June 11, 2026, DLA Piper and WSGR exchanged drafts of the Merger Agreement that were modeled on the merger agreement that had been previously executed between PlusAI and Churchill Capital Corp IX, and various exhibits and other ancillary agreements to the Merger Agreement.On June 19, 2026, CCM delivered to DLA Piper the PIPE terms that had been socialized with the Sponsor Affiliate and the Company, and which CCM had begun discussing with other potential investors, including a party that Mr. Valdman had introduced to TVA III and PlusAI. The Sponsor Affiliate had indicated a willingness to invest $25 million in a PIPE provided that additional investors were brought in to fund the rest of the funds that PlusAI sought to have raised, which was at least $75 million. In addition, PlusAI had begun discussions with certain of its existing investors in such existing investors participating in the PIPE. The PIPE terms under discussion contemplated the sale of Post-Closing Company Class A common stock and a warrant for the purchase of Post-Closing Company Class A common stock, at a price of $10 per combined share/warrant. Furthermore, the parties discussed the possibility of potential investors satisfying any obligation to purchase shares of Post-Combination Company Class A common stock in the PIPE by not redeeming any TVA III Class A Ordinary Shares held by such potential investors.Between June 20 and June 22, 2026, DLA Piper prepared both a draft of a PIPE Subscription Agreement and a draft of a Non-Redemption Agreement (the “Non-Redemption Agreement“) that could be used for any PIPE investor who sought to not redeem any TVA III Class A Ordinary Shares in connection with the contemplated PIPE. The parties also engaged in discussions regarding a minimum cash closing condition for the business combination, and who would have the ability to waive such condition in the event that less cash was raised in the PIPE than the amount of this minimum cash closing condition.On June 22, 2026, DLA Piper sent the drafts of the PIPE Subscription Agreement and the Non-Redemption Agreement, as well as documents related to the PIPE, including the form of Warrant Certificate, and a draft of the Sponsor Support Agreement to WSGR and CCM. As WSGR proceeded to review these documents, CCM, PlusAI and Mr. Valdman shared the current set of documents with potential PIPE investors.DLA Piper and WSGR proceeded to finalize the Merger Agreement and various exhibits and ancillary agreements, with the primary discussion being regarding the minimum amount of Available Closing SPAC Cash needed at the Closing being set at the amount that the PIPE was expected to raise from the potential PIPE investors, and whether one or both of TVA III and PlusAI would have the ability to waive this condition to closing to the extent that less financing was raised from potential PIPE investors than anticipated pursuant to the PIPE Subscription Agreements. Following discussions, it was agreed that both parties would have an ability to waive this condition to closing.On June 24, 2026, the TVA III Board met to approve the transaction and the Merger Agreement, as well as related materials and the disclosure schedules, subject to finalization of the PIPE and the parties securing subscriptions for at least $75 million.On June 25, 2026, the parties, CCM, DLA Piper and WSGR met to discuss the status of the transaction and outstanding workstreams. That day, WSGR sent what at the time were expected to be the final revisions to the Merger Agreement and the Sponsor Support Agreement, while CCM and PlusAI worked on getting potential PIPE investors to agree to the terms of the PIPE Subscription Agreement previously circulated.On June 27, 2026, Wilson Sonsini sent DLA Piper final comments on the PIPE Subscription Agreement, the A&R Registration Rights Agreement and the Non-Redemption Agreement, and confirmed that it had no further comments on the form of Warrant Certificate or on other exhibits and ancillary agreements. Upon receipt, DLA Piper confirmed sign-off on the Non-Redemption Agreement.On June 29, 2026, DLA Piper delivered further comments on the PIPE Subscription Agreement and the A&R Registration Rights Agreement to WSGR, and indicated that comments on certain additional documents would follow.On July 1, 2026, DLA Piper circulated edits to the Proposed Bylaws to align with the lock-up provisions in the A&R Registration Rights Agreement and confirmed that it had no further comments on the Proposed Certificate of Incorporation.The parties then set a goal to finalize discussions with potential PIPE investors towards being able to sign and announce the Merger Agreement, PIPE Subscription Agreements and the business combination during the following few days after the conclusion of the Fourth of July holiday weekend. On July 6, 2026, WSGR sent DLA Piper a revised draft of the Merger Agreement that made some final non-substantive clean-up edits to reflect terms previously agreed upon by the parties. PlusAI separately engaged in discussions with certain of its existing investors regarding the terms of the PIPE and changes that these investors sought with respect to the documentation pertaining to their participation in the PIPE. WSGR and DLA Piper discussed the changes sought by these existing investors in PlusAI, and DLA Piper circulated revisions to the form of Warrant Certificate, the A&R Registration Rights Agreement, the Proposed Bylaws, the PIPE Side Letter and certain other ancillary agreements.On July 7, 2026, WSGR told DLA Piper that all but one of the existing investors in PlusAI expected to participate in the PIPE had signed the PIPE Subscription Agreement and that the remaining existing investor was expected to deliver its signature pages shortly. The parties separately worked to finalize a press release announcing the business combination.As of July 8, 2026, PIPE investments from the Sponsor Affiliate, the existing investors in PlusAI who intended to participate, and one other PIPE investor were prepared to proceed. However, the amount of investment from this group was less than $75 million, with the expectation that the remainder would be provided by an investor introduced to the parties by Mr. Valdman.Between July 9 and July 13, 2026, the parties and CCM worked to address questions from this potential investor with respect to the Transactions and the PIPE Subscription Agreement. By July 13, 2026, the parties believed that this potential investor was satisfied with the information provided and the state of the documents, and was prepared to move forward with signing the PIPE Subscription Agreement. This belief turned out to be erroneous as this potential investor determined that it could not proceed at this time. As a result, Mr. Valdman ceased to be involved in the process.As a result, the parties began discussions regarding looking at other potential PIPE investors. In the meantime, on July 17, 2026, Lowenstein Sandler LLP (“Lowenstein Sandler”), counsel to CCM, delivered comments to DLA Piper to the PIPE Subscription Agreement which were accepted by DLA Piper. CCM then used this revised PIPE Subscription Agreement in discussions with other potential PIPE investors.By July 27, 2026, some other potential investors had been identified, but they indicated that they were only interested in participating in an investment in the Post-Closing Company if (a) the investment was a convertible note and (b) the valuation of PlusAI was reduced from $1.2 billion.On July 31, 2026, DLA Piper sent WSGR a draft Convertible Note and a revised form of Warrant Certificate that set the term of the warrant at five years.On August 3, 2026, the parties received and reviewed a term sheet from other potential investors to provide $40 million in funding to the Post-Closing Company using a Convertible Note. Discussions with these other potential investors proceeded, but the parties were unable to reach an agreement with them.Following this, on August 10, 2026, Sponsor Affiliate proposed to lead a financing using a Convertible Note, with Sponsor Affiliate purchasing for $25 million a senior unsecured convertible PIK note in a principal amount of $27.78 million, plus warrants in the form of the PIPE Warrants, provided that there was at least $61.5 million in cash raised for the Post-Closing Company and valuation for PlusAI would be reduced from $1.2 billion to $800 million, with the potential for the PlusAI stockholders to receive up to 70 million Earnout Shares, which was an increase of 40 million Earnout Shares, or $400 million, from the version of the Merger Agreement that existed in early July.During the period from the middle of August through late August 2026, DLA Piper and WSGR exchanged drafts of the Convertible Note and Warrant Subscription Agreement, as well as draft of the Merger Agreement to reflect the changes in the financing terms and the merger consideration. The revisions to the Merger Agreement also adjusted the minimum cash closing condition to reflect the amount of cash that was being raised through the Convertible Notes. Furthermore, because there would no longer be a PIPE, the Non-Redemption Agreement previously drafted was no longer relevant. In addition, Sponsor Affiliate proposed entering into the Forward Purchase Agreement with respect to the 1,050,000 TVA III public shares that it holds. By late August, potential investors representing an aggregate original principal amount of approximately $63,888,888, issued at a 10% original issue discount resulting in net cash proceeds of approximately $57,500,000, along with warrants to purchase shares of Post-Closing Company Class A common stock, had committed to participate in the financing. In addition, one existing investor in PlusAI committed to proceeding with a PIPE in the amount of $4 million using the previously drafted PIPE Subscription Agreement.Between August 24 and August 25, 2026, the parties finalized the various agreements and began collecting signatures from the investors.Also on August 25, 2026, the TVA III Board met and approved the Merger Agreement and the Transactions.On August 27, 2026, TVA III and Sponsor Affiliate entered into the Forward Purchase Agreement for a share forward transaction with respect to up to 1,050,000 TVA III Class A Ordinary Shares. On September 1, 2026, WSGR provided DLA Piper with confirmatory employment letters, confirming the continued employment of certain key individuals at PlusAI following the business combination. On September 2, 2026, the parties executed the Merger Agreement and the other related agreements, including the Company Voting and Support Agreements, the Sponsor Support Agreement, the Convertible Note and Warrant Subscription Agreements, the PIPE Subscription Agreement, the Share Issuance Agreements, the A&R Registration Rights Agreement, and various side letters with the investors. Following the execution of such documentation, on September 3, 2026, TVA III and PlusAI publicly announced the execution of the Merger Agreement and the business combination by issuing a joint press release and making available the investor presentation in connection with the announced business combination. The TVA III Board’s Reasons for Approval of the Business CombinationThe TVA III Board, in evaluating the Transactions, consulted with TVA III’s management and financial, strategic and legal advisors. In (1) resolving that it is just, equitable and fair and in the best interests of TVA III and its shareholders, and declaring it advisable, to enter into the Merger Agreement, the related agreements to which TVA III is a party and the Transactions, (2) approving the Merger Agreement, the related agreements to which TVA III is a party and the Transactions, including the Merger, on the terms and subject to the conditions of the Merger Agreement, and (3) adopting a resolution recommending the business combination proposal be approved by TVA III shareholders, the TVA III Board considered and evaluated a number of factors, including the factors discussed below. The TVA III Board did not consider it practicable to, and did not attempt to, quantify or otherwise assign relative weights to the specific factors it considered in reaching its determination. In addition, individual directors may have given different weight to different factors. The TVA III Board viewed its decision as being based on all of the information available and the factors presented to and considered by it. This explanation of TVA III’s reasons for the Transactions and all other information presented in this section is forward-looking in nature and, therefore, should be read in light of the factors discussed in the section entitled “Cautionary Note Regarding Forward-Looking Statements.”The TVA III Board considered a number of factors pertaining to the Transactions as generally supporting its decision to enter into the Merger Agreement, the related agreements to which TVA III is a party, and the Transactions, including but not limited to, the following material factors: <div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Reasonableness of Aggregate Consideration. Following a review of the financial data provided to TVA III, including PlusAI’s historical financial statements and certain unaudited prospective financial information, TVA III’s due diligence review of PlusAI’s business and the willingness of the Sponsor Affiliate and the other investors to participate in the financing at the valuation provided to PlusAI (which supported TVA III management’s view regarding valuation), the TVA III Board considered the aggregate consideration to be paid and determined that the aggregate consideration was reasonable in light of such data and financial information.</div></div></div>Business and Financial Condition and Prospects. After conducting extensive due diligence, the TVA III Board and TVA III’s management team obtained a better understanding of PlusAI’s business, financialcondition, management team and future growth prospects. The TVA III Board considered the results of the due diligence review of PlusAI’s business, as further described in “—Background of the Transaction”, as well as PlusAI’s management team’s experience. The TVA III Board considered how these factors will enhance PlusAI’s ability to scale effectively and to execute upon and achieve its business plan.<div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Experienced and Committed Management Team. The TVA III Board considered the fact that the Post-Closing Company is expected to be led by members of PlusAI’s senior management team, who have deep technology expertise and extensive experience in the artificial intelligence, autonomy and automotive spaces. The senior management team is expected to remain with the Post-Closing Company in the capacity of officers and/or directors, which will provide helpful continuity in advancing the Post-Closing Company’s strategic goals.</div></div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Commitment of PlusAI’s Owners. The TVA III Board considered the fact that PlusAI’s Chief Executive Officer and other key executives, together with all of the other shareholders of PlusAI, are not selling any of their current shareholdings of PlusAI in the Transaction, which the TVA III Board believed reflects such shareholders’ belief in and commitment to the continued growth prospects of PlusAI going forward.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III Financial Analysis. The TVA III Board considered certain operating financial information and valuation benchmarking materials (the “Materials”) prepared by the management of TVA III and individuals involved with Yorkville Advisors who also advised the Sponsor Affiliate on the investment which Sponsor Affiliate committed to make in the Post-Closing Company.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Other Alternatives. TVA III raised $225,000,000 in April 2025 with the objective of consummating an attractive business combination. Since that time, as more fully described in “Proposal No. 1 — The </div></div></div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.13195601466178%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">Business Combination Proposal — Background of the Transactions,” TVA III has evaluated a number of businesses but has been most impressed by the PlusAI business. The TVA III Board believed that based upon the terms of the Transactions, the Transactions provide the best available opportunity to maximize value for TVA III shareholders.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Terms of the Merger Agreement and the Related Agreements. The TVA III Board considered the terms and conditions of the Merger Agreement and the related agreements and the transactions contemplated thereby, including the Merger, each party’s representations, warranties and covenants, the conditions to each party’s obligation to consummate the transactions contemplated thereby and the termination provisions, as well as the strong commitment by both PlusAI and TVA III to complete the Transactions.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Board of Directors of the Post-Closing Company. The TVA III Board considered that the initial Post-Closing Company Board would be comprised of eight directors, who shall include (1) two directors designated by Sponsor (one of which to be designated as a Class II director and one of which to be designated as a Class III director), (2) three independent directors to be designated by mutual agreement between TVA III and PlusAI and (3) three other individuals determined by PlusAI, in its sole and exclusive discretion, provided that the citizenship of the members of the Post-Closing Company Board shall be such that TVA III will be free of foreign ownership, control or domination.</div></div>The TVA III Board also considered a variety of uncertainties and risks and other potentially negative factors concerning the Transactions, including, but not limited to, the following:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Macroeconomic Risks. Macroeconomic uncertainty and the effects it could have on the combined company’s revenues.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Benefits May Not Be Achieved. The risk that the potential benefits of the Transactions may not be fully achieved or may not be achieved within the expected timeframe.</div></div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Timeline Risks. Deployment and commercialization of PlusAI’s technology may be delayed due to delays in PlusAI’s anticipated timeline for completion and validation of acceptable safety testing and measures for PlusAI technology and the development of plans for ensuring acceptable driver-out safety, delays in the production, reliability or revision of truck and computer hardware required for PlusAI’s technology from its partners or suppliers.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Technology Risks. Self-driving technology is an emerging technology, and there are technical challenges to commercialize the technology which may negatively impact PlusAI’s ability to grow its business. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Intellectual Property Risks. The value of the intellectual property associated with PlusAI’s technology is based in part on PlusAI’s ability to protect and enforce its patents and other proprietary rights, which is not guaranteed, and the inability to do so may expose PlusAI to the possible loss of a competitive advantage.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Liquidation. The risks and costs to TVA III if the business combination is not completed, including the risk of diverting management focus and resources from other business combination opportunities, which could result in TVA III being unable to effect a business combination within the completion window and force TVA III to liquidate.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Shareholder Vote. The risk that TVA III’s shareholders may object to and challenge the Transactions and take action that may prevent or delay the consummation of the Transactions, including to vote down the proposals at the extraordinary general meeting or redeem their shares.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Closing Conditions. The fact that completion of the Transactions is conditioned on the satisfaction of certain closing conditions that are not within TVA III’s control.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III Public Shareholders Holding a Minority Position in the Post-Combination Company. The risk that TVA III public shareholders will hold a minority position in the post-combination company (approximately %, assuming that no TVA III Class A Ordinary Shares are elected to be redeemed by TVA III shareholders), which may reduce the influence that TVA III’s current shareholders have on the management of TVA III.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Litigation. The possibility of litigation challenging the Transactions or that an adverse judgment granting injunctive relief could enjoin or otherwise interfere with the consummation of the Transactions.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Fees and Expenses. The fees and expenses associated with completing the Transactions.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Other Risks. Various other risks associated with the business of PlusAI, as described in the section entitled “Risk Factors” appearing elsewhere in this proxy statement.</div></div>In addition to considering the factors described above, the TVA III Board also considered that:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Interests of Certain Persons. Some officers and directors of TVA III have interests in the Transactions as individuals that are in addition to, and that may be different from, the interests of TVA III shareholders (see section entitled “— Interests of Certain TVA III Persons in the Business Combination”). TVA III’s independent directors reviewed and considered these interests during the negotiation of the business combination and in evaluating and unanimously approving, as members of the TVA III Board, the Merger Agreement, the related agreements to which TVA III is a party and the Transactions.</div></div>The TVA III Board concluded that the potential benefits that it expected TVA III and its shareholders to achieve as a result of the Transactions outweighed the potentially negative factors associated with the Transactions. The TVA III Board also noted that TVA III shareholders would have a substantial economic interest in the combined company (depending on the level of TVA III shareholders that sought redemption of their TVA III public shares into cash).Accordingly, the TVA III Board unanimously determined that the Merger Agreement, the related agreements to which TVA III is a party and the Transactions are just, equitable and fair, and in the best interests of, TVA III and its shareholders.The PlusAI Board’s Reasons for the Approval of the Business CombinationIn reaching its decision to approve the business combination, the PlusAI Board consulted with PlusAI’s management, as well as its financial and legal advisors, and considered a number of factors, including its knowledge of PlusAI’s business, operations, financial condition, competitive position and prospects. Among the various factors that the PlusAI Board considered in favor of its decision are: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Other Alternatives. It is the belief of the PlusAI Board, after review of alternative strategic opportunities from time to time, including strategic transactions with other partners and the possibility of, and benefits and risks associated with, continuing to operate PlusAI as an independent, stand-alone entity (including following a traditional initial public offering) and other merger prospects, that the proposed business combination represented a better opportunity for PlusAI to create value for PlusAI stockholders. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Terms of the Merger Agreement. The PlusAI Board considered the terms and conditions of the Merger Agreement, including but not limited to the nature and scope of the closing conditions and the likelihood of obtaining any necessary approvals. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Consideration Received by PlusAI Stockholders. The PlusAI Board considered the form and amount of consideration to be received by PlusAI stockholders in the proposed business combination under the terms and conditions of the Merger Agreement, including the right that the Eligible PlusAI Equityholders will have to receive the Earnout Shares. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Size of Post-Combination Company. The PlusAI Board considered the implied enterprise value of approximately $800,000,000 for PlusAI at the Closing. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Access to Capital. The PlusAI Board considered the current economic, industry and market conditions affecting PlusAI, PlusAI’s projected financial results and cash flows, PlusAI’s prospects as a private entity and the needs of PlusAI to obtain substantial additional financing in the future and the cost of alternative means of raising capital, and it expected that the proposed business combination would be a more time- and cost-effective means to access capital than other options considered. The PlusAI Board also considered the fact that it believed that the business combination could (assuming minimal redemptions) result in PlusAI’s business model being fully funded up until such time as PlusAI was projected to be cash flow positive. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Voting and Support Agreements. The PlusAI Board considered that certain PlusAI stockholders, whose ownership interests collectively represent the outstanding shares of PlusAI common stock and PlusAI preferred stock (voting on an as-converted basis) sufficient to approve the business combination proposal on behalf of PlusAI, were expected to enter into the PlusAI Voting and Support Agreements with TVA III pursuant to which such PlusAI stockholders would agree to support the approval of the PlusAI business combination proposal. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Registration Rights Agreements. The PlusAI Board also considered that, in connection with the execution of the Merger Agreement, certain PlusAI stockholders, whose ownership interests collectively represent 70% of the outstanding PlusAI common stock and 62% of the voting power of the outstanding PlusAI preferred stock (voting together as a single class and on an as-converted to PlusAI Class A common stock basis), were expected to enter into the Registration Rights Agreement with TVA III and the Sponsor pursuant to which, among other things, they would agree not to transfer their interests in the Post-Closing Company for 12 months after the Closing, subject to certain customary exceptions. Under certain conditions, shares of PlusAI common stock and PlusAI preferred stock shall be subject to early release from transfer restrictions.</div></div>The PlusAI Board also considered the following uncertainties, risks and other potentially negative factors: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Risk that the Business Combination may not be Completed. The PlusAI Board considered the risk that the business combination might not be consummated in a timely manner, or at all, due to a lack of stockholder approval or failure to satisfy various conditions to closing. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Impact on Reputation and Business if the Business Combination is not Completed. The PlusAI Board considered the possibility that there may be an adverse effect on PlusAI’s reputation and business in the event the business combination is not completed. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Expenses. The PlusAI Board considered the expenses to be incurred in connection with the business combination. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Restrictions on the Operation of PlusAI’s Business. The PlusAI Board considered the fact that, although PlusAI will continue to exercise, consistent with the terms and conditions of the Merger Agreement, control and supervision over its operations prior to the completion of the business combination, the Merger Agreement generally obligates PlusAI, subject to TVA III’s prior consent (which consent may not be unreasonably conditioned, withheld, delayed or denied), to conduct its business in the ordinary course of business consistent with past practice and in accordance with specified restrictions, which might delay or prevent PlusAI from undertaking certain business opportunities that might arise pending completion of the business combination. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Interests of PlusAI Executive Officers and Directors. The PlusAI Board considered the fact that certain executive officers and directors of PlusAI have interests in the business combination that may be different from, or in addition to, the interests of PlusAI stockholders generally, including the manner in which they would be affected by the business combination and the other matters disclosed in the sections entitled “— Interests of Certain TVA III Persons in the Business Combination” and “ — Interests of Certain PlusAI Persons in the Business Combination.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Other Risks. The PlusAI Board considered various other risks associated with the combined organization and the business combination, including the risks described in the section entitled “Risk Factors.” </div></div> The foregoing discussion is not meant to be exhaustive, but addresses the material information and factors considered by the PlusAI Board in consideration of its approval of the business combination. In view of the wide variety of factors considered by the PlusAI Board in connection with the evaluation of the business combination and the complexity of these matters, the PlusAI Board did not find it practicable to, and did not, quantify or otherwise assign relative weights to the specific factors considered in reaching its determination and recommendation. In addition, the PlusAI Board did not reach any specific conclusion with respect to any of the particular factors considered. Instead, the PlusAI Board conducted an overall analysis of the factors described above and made its determinations and recommendations based on the totality of the information reviewed. The judgments of individual members of the PlusAI Board may have been influenced to a greater or lesser degree by different factors. The PlusAI Board ultimately concluded that, in the aggregate, the potential benefits of the business combination outweighed the potential risks or negative consequences of the business combination. <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Reasonableness of Aggregate Consideration. Following a review of the financial data provided to TVA III, including PlusAI’s historical financial statements and certain unaudited prospective financial information, TVA III’s due diligence review of PlusAI’s business and the willingness of the Sponsor Affiliate and the other investors to participate in the financing at the valuation provided to PlusAI (which supported TVA III management’s view regarding valuation), the TVA III Board considered the aggregate consideration to be paid and determined that the aggregate consideration was reasonable in light of such data and financial information.</div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Business and Financial Condition and Prospects. After conducting extensive due diligence, the TVA III Board and TVA III’s management team obtained a better understanding of PlusAI’s business, financial condition, management team and future growth prospects. The TVA III Board considered the results of the due diligence review of PlusAI’s business, as further described in “—Background of the Transaction”, as well as PlusAI’s management team’s experience. The TVA III Board considered how these factors will enhance PlusAI’s ability to scale effectively and to execute upon and achieve its business plan.</div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Experienced and Committed Management Team. The TVA III Board considered the fact that the Post-Closing Company is expected to be led by members of PlusAI’s senior management team, who have deep technology expertise and extensive experience in the artificial intelligence, autonomy and automotive spaces. The senior management team is expected to remain with the Post-Closing Company in the capacity of officers and/or directors, which will provide helpful continuity in advancing the Post-Closing Company’s strategic goals.</div></div> <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Commitment of PlusAI’s Owners. The TVA III Board considered the fact that PlusAI’s Chief Executive Officer and other key executives, together with all of the other shareholders of PlusAI, are not selling any of their current shareholdings of PlusAI in the Transaction, which the TVA III Board believed reflects such shareholders’ belief in and commitment to the continued growth prospects of PlusAI going forward.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III Financial Analysis. The TVA III Board considered certain operating financial information and valuation benchmarking materials (the “Materials”) prepared by the management of TVA III and individuals involved with Yorkville Advisors who also advised the Sponsor Affiliate on the investment which Sponsor Affiliate committed to make in the Post-Closing Company.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Other Alternatives. TVA III raised $225,000,000 in April 2025 with the objective of consummating an attractive business combination. Since that time, as more fully described in “Proposal No. 1 — The </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.13195601466178%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">Business Combination Proposal — Background of the Transactions,” TVA III has evaluated a number of businesses but has been most impressed by the PlusAI business. The TVA III Board believed that based upon the terms of the Transactions, the Transactions provide the best available opportunity to maximize value for TVA III shareholders.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Terms of the Merger Agreement and the Related Agreements. The TVA III Board considered the terms and conditions of the Merger Agreement and the related agreements and the transactions contemplated thereby, including the Merger, each party’s representations, warranties and covenants, the conditions to each party’s obligation to consummate the transactions contemplated thereby and the termination provisions, as well as the strong commitment by both PlusAI and TVA III to complete the Transactions.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Board of Directors of the Post-Closing Company. The TVA III Board considered that the initial Post-Closing Company Board would be comprised of eight directors, who shall include (1) two directors designated by Sponsor (one of which to be designated as a Class II director and one of which to be designated as a Class III director), (2) three independent directors to be designated by mutual agreement between TVA III and PlusAI and (3) three other individuals determined by PlusAI, in its sole and exclusive discretion, provided that the citizenship of the members of the Post-Closing Company Board shall be such that TVA III will be free of foreign ownership, control or domination.</div></div>The TVA III Board also considered a variety of uncertainties and risks and other potentially negative factors concerning the Transactions, including, but not limited to, the following:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Macroeconomic Risks. Macroeconomic uncertainty and the effects it could have on the combined company’s revenues.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Benefits May Not Be Achieved. The risk that the potential benefits of the Transactions may not be fully achieved or may not be achieved within the expected timeframe.</div></div>Unaudited Prospective Unit Economics InformationIn connection with its consideration of the business combination, including the Transactions, PlusAI provided its internally-derived unit economic calculations (the “Unit Economics”) related to autonomous trucking deployments to (1) TVA III for use as a component of its overall evaluation of PlusAI and (2) to the PlusAI Board and its advisors in connection with its evaluation of the Transactions. The Unit Economics are being included in this proxy statement/prospectus because the Unit Economics were provided to the TVA III Board and the PlusAI Board for their respective evaluations of the Transactions.The Unit Economics are included in this proxy statement/prospectus solely to provide TVA III’s shareholders and PlusAI’s stockholders access to information made available in connection with the consideration by the TVA III Board and the PlusAI Board of the Transactions. The Unit Economics should not be viewed as a projection or forecast of PlusAI’s overall financial performance. Furthermore, the Unit Economics do not take into account any circumstances or events occurring after the date on which such Unit Economics were prepared and provided to TVA III, which was May 18, 2026, and may differ, perhaps significantly, from similarly titled measures that may be presented in the future.The Unit Economics were prepared in good faith by PlusAI’s management team and are based on its management’s reasonable estimates and assumptions with respect to the expected performance of its autonomous driving solutions, as applicable, at the time the Unit Economics were prepared and speak only as of that time. As such, the Unit Economics do not reflect any updates since the time such Unit Economics were delivered to the TVA III Board in its meeting held on June 24, 2026.The Unit Economics reflect numerous estimates and assumptions with respect to matters specific to PlusAI’s business and general matters, including estimates and assumptions with respect to PlusAI’s business and the revenue models PlusAI expects to use in connection with the deployment its autonomous driving solutions, industry-wide business, economic, regulatory, market and financial conditions and other future events, all of which are difficult to predict and many of which are beyond PlusAI’s and TVA III’s control. Moreover, the Unit Economics are not subject to any escalation or discounting. The time at which the assumptions underlying the Unit Economics will be realized, if at all, is highly uncertain. As a result, there can be no assurance that the Unit Economics will be realized or that actual performance will yield similar results (i.e., not significantly higher or lower than those set forth in the Unit Economics).Because the Unit Economics relate to estimates at scale, the timing of which is uncertain, such information by its nature becomes less predictive with the passage of time. These Unit Economics are subjective in many respects and thus are susceptible to multiple interpretations and periodic revisions based on actual experience and business developments. The Unit Economics have been prepared solely by PlusAI, have not been reviewed or verified by independent third parties. Some of PlusAI’s assumptions are estimates. These estimates are based on PlusAI’s management’s beliefs, estimates and assumptions and on information available to PlusAI’s management when the estimates were made. Although TVA III’s and PlusAI’s management teams believed that there was a reasonable basis for each of these estimates, TVA III and PlusAI caution you that these estimates are based on a combination of assumptions that may result in such estimates proving to be inaccurate. Information provided in the Unit Economics constitutes forward-looking statements that are inherently subject to significant uncertainties and contingencies, many of which are beyond PlusAI’s and TVA III’s control. The various risks and uncertainties include those set forth in the sections entitled “Risk Factors,” “PlusAI’s Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Cautionary Note Regarding Forward-Looking Statements.”The Unit Economics were prepared solely for internal use and not with a view toward public disclosure or toward complying with any guidelines established by the American Institute of Certified Public Accountants. The Unit Economics included in this proxy statement/prospectus have been prepared by, and are the responsibility of, PlusAI’s management. Neither the independent registered public accounting firms of PlusAI or TVA III, nor any other registered public accounting firms, have compiled, examined or performed any procedures with respect to the Unit Economics contained in the proxy statement/prospectus, nor have they expressed any opinion or any other form of assurance on such information or their accuracy or achievability, and the independent registered public accounting firms of PlusAI and TVA III assume no responsibility for, and disclaim any involvement with, the Unit Economics. Further, to that end, the report of Deloitte & Touche LLP included in the consolidated financial statements in this proxy statement/prospectus relates to the historical consolidated financial statements of PlusAI. It does not extend to the Unit Economics and should not be read to do so.The inclusion of the Unit Economics in this proxy statement/prospectus should not be regarded as an indication that TVA III, the TVA III Board, PlusAI, the PlusAI Board, or their respective affiliates, advisors or other representatives considered, or now considers, such Unit Economics necessarily to be predictive of actual future results or to support or fail to support your decision whether to vote for or against the business combination proposal. For more information, see the risk factor in the section entitled “Risk Factors — Risks Related to PlusAI — Risks Related to Our Business Operations — Forward-looking estimates and predictions as to the future deployment of our technology, and the associated adoption curve are subject to significant uncertainty and are based on assumptions and estimates that may prove inaccurate.” No person has made or makes any representation or warranty to any TVA III shareholder regarding the information included in the Unit Economics. The Unit Economics are not fact and are not necessarily indicative of future results. Readers of this proxy statement/prospectus are cautioned not to place undue reliance on this information.The Unit Economics are not included in this proxy statement/prospectus to induce any TVA III shareholders to vote in favor of any of the proposals at the extraordinary general meeting.TVA III urges you to review the financial statements of PlusAI included in this proxy statement/prospectus, as well as the financial information in the section of this proxy statement/prospectus entitled “Unaudited Pro Forma Condensed Combined Financial Information” and to not rely on any single financial measure.PlusAI uses certain financial measures in its Unit Economics that are not prepared in accordance with GAAP as supplemental measures to evaluate operational performance. There are limitations associated with the use of non-GAAP financial measures, and the metrics set forth in the Unit Economics should not be considered as a substitute for or in isolation from our financial statements prepared in accordance with GAAP. Non-GAAP financial measures are not prepared in accordance with GAAP, are not reported by all of PlusAI’s competitors and may not be directly comparable to similarly titled measures of PlusAI’s competitors. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in accordance with GAAP. Financial measures included in the Unit Economics provided to a board of directors or financial advisor in connection with a business combination transaction are excluded from the definition of “non-GAAP financial measures” under the rules of the SEC, and therefore the Unit Economics are not subject to SEC rules regarding disclosures of non-GAAP financial measures, which would otherwise require a reconciliation of a non-GAAP financial measure to a GAAP financial measure. Accordingly, no reconciliation of the financial measures included in the Unit Economics was prepared, and therefore none have been provided in this proxy statement/prospectus. The definitions of the non-GAAP measures included in the Unit Economics may not align with those underlying the non-GAAP measures presented in the section entitled “PlusAI’s Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Further, other companies, including companies in our industry, may calculate these metrics differently or not at all, which reduces their usefulness as comparative measures.Unit EconomicsThe Unit Economics, including the net value, PlusAI share of the net value and target gross margin are based on numerous estimates and assumptions, including those set forth below. The actual terms of the definitive long-term contracts and commercial arrangements with our OEM partners are subject to negotiation and there is no assurance PlusAI will achieve the implied revenue terms or share of the net value set forth in the Unit Economics from any given customer or at all. See the section entitled “Risk Factors-Risks Related to PlusAI.” In addition, no assurances can be given that PlusAI or its OEM partners will achieve the savings or implied results described in the Unit Economics on the terms set forth in the Unit Economics or at all. See the section entitled “Risk Factors — Risks Related to PlusAI.”The key assumptions for SuperDrive Unit Economics include:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Annual Autonomous Miles. Autonomous Trucks are expected to drive approximately 240,000 miles per year.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Operational Availability. Trucks will be available to drive up to 24 hours per day and operate up to 315 days per year accounting for regular truck maintenance and repair.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Utilization (autonomous drive mode). Autonomous driving utilization will be 75% to account for non-autonomous operations such as loading and unloading of freight.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Average Driving Speed. Trucks will average 42 miles per hour which is adjusted for traffic and safety stops.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Autonomous Net Value. A SuperDrive-enabled truck will charge $0.85 per mile to be paid by truck operators to the OEM for autonomous operations.</div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Revenue per mile. PlusAI will receive between 20% to 25% of the expected autonomous net value of $0.85 per mile. </div></div><div class="item-list-element-wrapper" style="margin-left:0.33958333333333335in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.3402777777777778in;text-align:justify;">•<div style="display:inline;">Gross Margin %. A SuperDrive-enabled truck will have a gross margin of 85%.</div></div>In addition to the Unit Economics depicted above, PlusAI also provided to TVA III certain estimates and other assumptions that PlusAI’s management relied upon in preparing PlusAI's business model. These estimates and assumptions included estimates with respect to certain expenses and working capital with projected cash flow through the end of 2027 based upon a funding of at least $61.5 million at the Closing, and showed a positive cash position for the Post-Closing Company at the end of 2027. EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE FEDERAL SECURITIES LAWS (INCLUDING A REGISTRANT’S RESPONSIBILITY TO MAKE FULL AND PROMPT DISCLOSURE AS REQUIRED BY SUCH FEDERAL SECURITIES LAWS), BY INCLUDING IN THIS PROXY STATEMENT/PROSPECTUS A SUMMARY OF THE UNIT ECONOMICS, NONE OF TVA III, PLUSAI OR ANY OF THEIR RESPECTIVE REPRESENTATIVES OR AFFILIATES UNDERTAKES ANY OBLIGATION TO, AND EACH EXPRESSLY DISCLAIMS ANY RESPONSIBILITY TO, UPDATE OR REVISE, OR PUBLICLY DISCLOSE ANY UPDATE OR REVISION TO, THESE UNIT ECONOMICS TO REFLECT CIRCUMSTANCES OR EVENTS, INCLUDING UNANTICIPATED EVENTS, THAT MAY HAVE OCCURRED OR THAT MAY OCCUR AFTER THE PREPARATION OF THESE UNIT ECONOMICS AND THEIR PRESENTATION TO THE TVA III BOARD, EVEN IN THE EVENT THAT ANY OR ALL OF THE ASSUMPTIONS UNDERLYING THE UNIT ECONOMICS ARE SHOWN TO BE IN ERROR OR CHANGE.Recommendation of the TVA III BoardAfter careful consideration, the TVA III Board has unanimously determined that the business combination proposal is fair to, and in the best interests of, TVA III and its shareholders and unanimously recommends that you vote or give instruction to vote “FOR” the business combination proposal. 7500000 4700000 7500000 25000 4700000 7400000 1 7400000 7500000 4700000 3000 7500000 4700000 7400000 In considering the recommendation of the PlusAI Board with respect to approving the Transactions, PlusAI stockholders should be aware that certain members of the PlusAI Board and certain executive officers of PlusAI have interests in the Transactions that are different from, or in addition to, the interests of PlusAI stockholders generally. These interests include, among other things: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Certain of PlusAI’s directors and executive officers are expected to become directors and/or executive officers of the Post-Closing Company upon the Closing. Each of David Liu, Hao Zheng and Richard Lim are expected to become directors of the Post-Closing Company, effective as of the Effective Time, and all of PlusAI’s executive officers are expected to become the executive officers of the Post-Closing Company, effective as of the Effective Time.</div></div>Certain of PlusAI’s directors and executive officers hold restricted stock units (“RSUs”) covering shares of PlusAI Class A common stock, which RSUs at the Effective Time will be assumed by TVA III and converted into RSUs covering shares of Post-Closing Company Class A common stock. The treatment of such equity awards in connection with the Transactions is described in the section entitled “Proposal No. 1—The Business Combination Proposal—General—Treatment of PlusAI Options, PlusAI RSUs and PlusAI The vesting of the PlusAI RSUs set forth in the table above is subject to both continued service over a specified schedule and the occurrence of a liquidity event of PlusAI during a specified period. For purposes of such vesting, the consummation of the Merger will constitute the occurrence of the PlusAI liquidity event, which will enable such RSUs to vest, to the extent the service-based vesting requirement is or has been satisfied in accordance with its applicable vesting schedule.<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">In connection with the Closing, PlusAI and the Post-Closing Company may enter into new employment agreements with certain employees of PlusAI, including PlusAI executive officers, which would be expected to provide for continued employment with the Post-Closing Company on an at-will basis and include terms for base salary, target cash bonus opportunity and employee benefits, and PlusAI or the Post-Closing Company may adopt an executive change in control and severance plan or agreements and designate certain eligible employees to participate in such arrangements, including PlusAI executive </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.13195601466178%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">officers, to become effective as of or following the Closing, as described in the sections titled “Executive Compensation — Employment Arrangements with PlusAI’s Executive Officers” and “— Potential Payments Upon Termination or Change of Control.”</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">In connection with the Closing, the Post-Closing Company is expected to adopt a new non-employee director compensation policy providing compensation to the Post-Closing Company’s non-employee directors following the Closing, subject to the approval of the Post-Closing Company Board, and which will be effective as of the date of the Effective Time, as described in the section entitled “Board of Directors and Management after the Business Combination — Non-Employee Director Compensation”. </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">The Merger Agreement provides that, following the effectiveness of the 2026 Equity Incentive Plan, a number of shares of Post-Closing Company Class A common stock will be used to grant RSUs to certain individuals selected by PlusAI who had been service providers of PlusAI as of immediately prior to the Effective Time, and who continue to be service providers through the date of grant of such RSUs. Each of the PlusAI executive officers and directors may be eligible to receive such Post-Closing Company RSUs, to the extent they are selected by PlusAI to receive such awards and subject to their continued service through the date of grant of such RSUs.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">As of June 30, 2026 PlusAI’s non-employee directors and executive officers, together with their affiliated entities, beneficially owned, in the aggregate, approximately 34.2% of the outstanding shares of PlusAI capital stock, excluding any shares issuable upon settlement of PlusAI RSUs held by such individuals and entities. Such shares of PlusAI capital stock will be converted into the number of shares of Post-Closing Company common stock to which such holder has become entitled under the Merger Agreement at the Effective Time. </div></div>The PlusAI Board was aware of these potential conflicts of interest and considered them, among other matters, in reaching its decision to approve the Merger Agreement and the Merger and to recommend that the PlusAI stockholders approve the Merger as described in this proxy statement/prospectus.Expected Accounting Treatment of the TransactionsWe expect the Transactions to be accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, TVA III is expected to be treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of the Post-Closing Company will represent a continuation of the financial statements of PlusAI with the Transactions treated as the equivalent of PlusAI issuing shares for the net assets of TVA III, accompanied by a recapitalization. The net assets of TVA III will be stated at historical cost as of the Merger date, with no goodwill or other intangible assets recorded. Operations prior to the Transactions will be those of PlusAI in future reports of the Post-Closing Company.PlusAI is expected to be the accounting acquirer based on evaluation of the following facts and circumstances regardless of the level of redemptions from the trust account of TVA III:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">PlusAI stockholders will have a relative majority of the voting power of the Post-Closing Company;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the Post-Closing Company Board will consist of eight directors, who shall include (1) two directors designated by Sponsor (one of which to be designated as a Class II director and one of which to be designated as a Class III director), (2) three independent directors to be designated by mutual agreement between TVA III and PlusAI and (3) three other individuals determined by PlusAI, in its sole and exclusive discretion, provided that the citizenship of the members of the Post-Closing Company Board shall be such that TVA III will be free of foreign ownership, control or domination.</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">PlusAI’s senior management will comprise all of the senior management roles of the Post-Closing Company and be responsible for the day-to-day operations;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the Post-Closing Company will assume the PlusAI name and be renamed as Plus Automation, Inc.; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the intended strategy and operations of the Post-Closing Company will continue PlusAI’s current strategy and operations to deploy autonomous driving intelligence at global scale to create lasting value for the commercial trucking ecosystem by enhancing safety and lowering the cost of freight transportation.</div></div>The Earnout Shares are expected to be classified as equity on the balance sheet. The impact of the Earnout Shares is not expected to be material on the future results of operations of the Post-Closing Company.Regulatory MattersUnder the HSR Act and the rules that have been promulgated thereunder by the FTC, certain transactions may not be consummated unless information has been furnished to the Antitrust Division and the FTC and certain waiting period requirements have been satisfied. The Transactions are subject to these requirements and may not be completed until the expiration of a 30-day waiting period following the filing of the required Notification and Report Forms with the Antitrust Division and the FTC or until early termination is granted. If the FTC or the Antitrust Division issues a Second Request within the initial 30-day waiting period, the waiting period with respect to the Transactions will be extended for an additional period of 30 calendar days, which will begin on the date on which the filing parties each certify compliance with the Second Request. Complying with a Second Request can take a significant period of time.Each of TVA III and PlusAI filed a Notification and Report Form with the FTC and the Antitrust Division in connection with the Transactions on , 2026. The initial 30-day waiting period will expire at 11:59 p.m., Eastern time, on , 2026. At any time before or after consummation of the Transactions, notwithstanding termination of the waiting period under the HSR Act, the applicable competition authorities could take such action under applicable antitrust laws as each deems necessary or desirable in the public interest, including seeking to enjoin the consummation of the Transactions. Private parties may also seek to take legal action under the antitrust laws under certain circumstances. There is no assurance that the Antitrust Division, the FTC, any state attorney general, or any other government authority will not attempt to challenge the Transactions on antitrust grounds, and, if such a challenge is made, we cannot assure you as to its result.Neither TVA III nor PlusAI is aware of any material regulatory approvals or actions that are required for completion of the Transactions other than the expiration or early termination of the waiting period under the HSR Act. It is presently contemplated that if any such additional regulatory approvals or actions are required, those approvals or actions will be sought. There can be no assurance, however, that any additional approvals or actions will be obtained.Vote RequiredThe approval of the business combination proposal requires an ordinary resolution, being the affirmative vote of a simple majority of the votes cast by holders of outstanding TVA III Ordinary Shares represented at the extraordinary general meeting by attendance via the virtual meeting website, in person or by proxy and entitled to vote at the extraordinary general meeting, voting together as a single class. Accordingly, if a valid quorum is established, a TVA III shareholder’s failure to vote by proxy or to vote at the extraordinary general meeting and broker non-votes with regard to the business combination proposal will have no effect on such proposal. Abstentions will be counted in connection with the determination of whether a valid quorum is established, but will have no effect on the business combination proposal. Additionally, the business combination will not be consummated if TVA III has less than $5,000,001 of net tangible assets after taking into account the holders of TVA III public shares that properly demanded that TVA III redeem their shares for their pro rata share of the trust account.<div>Consummation of the business combination proposal is conditioned on the approval of each of the other condition precedent proposals. If any of those proposals are not approved at the extraordinary general meeting (or any adjournment or postponement thereof), then unless certain conditions in the Merger Agreement are waived by the applicable parties to the Merger Agreement, the Merger Agreement may be terminated and the business combination may not be consummated.</div><div>As of the date of this proxy statement/prospectus, pursuant to the terms of the Sponsor Support Agreement, the Sponsor and the Insiders have each agreed to vote their, and to cause the Sponsor Affiliate to vote its, TVA III Ordinary Shares, including TVA III Class B Ordinary Shares and any TVA III public shares held by them as of the TVA III Record Date, in favor of the business combination proposal. As of the TVA III Record Date, the Sponsor and the Sponsor Affiliate together own 28.5% of the issued and outstanding TVA III Ordinary Shares.</div>Resolution to be Voted UponThe full text of the resolution to be passed is as follows:“RESOLVED, as an ordinary resolution, that the business combination proposal (as such term is defined in TVA III’s proxy statement/prospectus dated , 2026), be approved, ratified and confirmed in all respects.”Recommendation of the TVA III Board THE TVA III BOARD UNANIMOUSLY RECOMMENDS THAT TVA III SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE BUSINESS COMBINATION PROPOSAL. true Material U.S. Federal Income Tax Consequences of the Business Combination to TVA III Shareholders The following discussion is a summary of material U.S. federal income tax considerations (1) for U.S. Holders and Non-U.S. Holders (each as defined below, and together, “Holders”) of TVA III Class A Ordinary Shares, TVA III Warrants and TVA III Public Units (each, an “TVA III Security”) of the Domestication, whereby TVA III will re-domicile in the State of Delaware (such re-domiciled company, “TVA III Delaware”), (2) for Holders of TVA III public shares that exercise their redemption rights in connection with the business combination, (3) for Holders of the ownership and disposition of Post-Closing Company Class A Common Stock and Post-Closing Company public warrants (each, a “Post-Closing Company Security”). With respect to the ownership and disposition of securities, this discussion is limited to (1) TVA III Class A Ordinary Shares and TVA III Delaware Warrants (collectively, “TVA III Delaware Securities”) received in connection with the Domestication, (2) TVA III public shares sold pursuant to the exercise of redemption rights in connection with the business combination, and (3) Post-Closing Company Class A common stock received upon the exercise of the Post-Closing Company public warrants received by a Holder in connection with the Domestication and the Merger. This section applies only to Holders that hold their TVA III Securities, TVA III Delaware Securities and Post-Closing Company Securities as “capital assets” for U.S. federal income tax purposes (generally, property held for investment).This discussion does not address the U.S. federal income tax consequences (1) to the Sponsor or its affiliates or the officers or directors of TVA III, or (2) to any person holding TVA III Founder Shares or PlusAI capital stock. This discussion is limited to U.S. federal income tax considerations and does not address any estate, gift or other U.S. federal non-income tax considerations or considerations arising under the tax laws of any U.S. state, or local or non-U.S. or other jurisdiction. This discussion does not describe all of the U.S. federal income tax consequences that may be relevant to any particular investor in light of their particular circumstances, including the alternative minimum tax, the Medicare tax on certain investment income and the different consequences that may apply to investors subject to special rules under U.S. federal income tax law, such as:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">banks, financial institutions or financial services entities;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">broker-dealers;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">taxpayers that are subject to, or who elect to apply, the mark-to-market accounting rules under Section 475 of the Code with respect to the TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">tax-exempt entities;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">governments or agencies or instrumentalities of such governments or agencies;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">insurance companies;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">regulated investment companies or real estate investment trusts;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">partnerships (including entities or arrangements treated as partnerships for U.S. federal income tax purposes) or other pass-through entities (including S Corporations), or persons that will hold the TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities through such partnerships or pass-through entities;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">U.S. expatriates or former long-term residents of the United States;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">except as specifically provided below, persons that actually or constructively own five percent or more (by vote or value) of TVA III’s shares or PlusAI’s shares;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons that acquired their TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities pursuant to an exercise of employee share options, in connection with employee share incentive plans or otherwise as compensation;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons that hold or sell their TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities as part of a straddle, constructive sale, hedge, synthetic security, wash sale, conversion or other integrated or similar transaction or risk reduction strategy;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">U.S. Holders (as defined below) whose functional currency is not the U.S. dollar;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons subject to special tax accounting rules as a result of any item of gross income with respect to TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities being taken into account in an “applicable financial statement” (as defined in the Code); or </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">“specified foreign corporations” (including “controlled foreign corporations”), “passive foreign investment companies” or corporations that accumulate earnings to avoid U.S. federal income tax.</div></div>If a partnership or other pass-through entity (or any entity or arrangement treated as a partnership or other pass-through entity for U.S. federal income tax purposes) holds TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities, the tax treatment of such partnership or other pass-through entity and a person treated as a partner of such partnership or owner of such other pass-through entity will generally depend on the status of the partner or owner, the activities of the partnership or other pass-through entity, and certain determinations made at the partner or owner level. Partnerships and other pass-through entities holding any TVA III Securities, TVA III Delaware Securities or Post-Closing Company Securities and persons that are treated as partners of such partnerships or owners of such other pass-through entities should consult their tax advisors as to the particular U.S. federal income tax consequences to them of the Domestication, the exercise of redemption rights with respect to TVA III public shares and the ownership and disposition of Post-Closing Company Securities. This discussion is based on the Code, Treasury Regulations promulgated under the Code, and judicial and administrative interpretations of the Code and Treasury Regulations promulgated under the Code, all as of the date of this proxy statement/prospectus. All of the foregoing is subject to change, which change could apply retroactively and could affect the tax considerations described in this proxy statement/prospectus. TVA III has not sought, and does not intend to seek, any rulings from the IRS as to any U.S. federal income tax considerations described in this proxy statement/prospectus. Accordingly, there can be no assurance that the IRS will not take positions inconsistent with the considerations discussed below or that any such positions would not be sustained by a court.This discussion is only a summary of material U.S. federal income tax considerations associated with the Domestication, the exercise of redemption rights with respect to TVA III public shares and the ownership and disposition of TVA III Delaware Securities received in the Domestication or Post-Closing Company Class A common stock acquired by the exercise of Post-Closing Company public warrants received in the Domestication. Each holder should consult its own tax advisor with respect to the particular tax consequences to such holder of the Domestication, the exercise of redemption rights with respect to TVA III public shares, the ownership and disposition of TVA III Delaware Securities and the exercise of TVA III Delaware Warrants received by a holder in the Domestication, including the applicability and effects of a U.S. federal, state and local and non-U.S. tax laws. The opinion of DLA Piper LLP (US), a copy of which is attached as an exhibit to the registration statement of which this proxy statement/prospectus is a part, expresses no opinion on the potential U.S. federal income tax consequences of the Domestication pursuant to Section 367 of the Code or the PFIC rules.Because the components of a TVA III Public Unit are generally separable at the option of the holder, the holder of a TVA III Public Unit generally should be treated, for U.S. federal income tax purposes, as the owner of the underlying TVA III Class A Ordinary Share and TVA III Public Warrant components of the TVA III Public Unit, and the discussion below with respect to actual Holders of TVA III Class A Ordinary Shares and TVA III Public Warrants also should apply to holders of TVA III Public Units (as the deemed owners of the underlying TVA III Class A Ordinary Shares and TVA III Public Warrants that constitute the TVA III Public Units). Accordingly, the separation of a TVA III Public Unit into one TVA III Class A Ordinary Share and the one-half of one TVA III Warrant underlying the TVA III Public Unit generally should not be a taxable event for U.S. federal income tax purposes. This position is not free from doubt, and no assurance can be given that the IRS would not assert, or that a court would not sustain, a contrary position. Holders of TVA III Public Units are urged to consult their tax advisors concerning the U.S. federal, state, local and any non-U.S. tax consequences of the transactions contemplated by the Domestication and the business combination (including the exercise of any redemption rights) with respect to any TVA III Class A Ordinary Shares and TVA III Warrants held through TVA III Public Units (including alternative characterizations of TVA III Public Units).Tax Treatment of the Domestication Subject to the limitations set forth herein, the Domestication should qualify as a “reorganization” within the meaning of Section 368(a)(1)(F) of the Code. A transaction qualifies as a reorganization within the meaning of Section 368(a) (1)(F) of the Code if it is a “mere change in identity, form, or place of organization of one corporation, however effected” (an “F Reorganization”).Pursuant to the Domestication, TVA III will change its jurisdiction of incorporation from the Cayman Islands to Delaware, and, in connection with the Closing of the Merger, will be renamed “PlusAI Holdings, Inc.”The U.S. federal income tax consequences of the Domestication to the Holders will depend primarily upon whether the Domestication qualifies as an F Reorganization. However, due to the absence of direct guidance, these results are not entirely clear. The discussion below neither binds the IRS nor precludes it from adopting a contrary position. Furthermore, there can be no assurance that the IRS will not assert, or that a court would not sustain, a position contrary to any position set forth herein. TVA III has not requested, and does not intend to request, a ruling from the IRS as to the U.S. federal income tax consequences of the Domestication. Accordingly, each Holder of TVA III Securities is urged to consult its tax advisor with respect to the particular tax consequence of the Domestication to such Holder.Assuming the Domestication qualifies as an F Reorganization, the Domestication should be treated for U.S. federal income tax purposes as if TVA III (1) transferred all of its assets and liabilities to TVA III Delaware in exchange for all of the outstanding stock and warrants of TVA III Delaware; and (2) then distributed such shares of stock and warrants of TVA III Delaware to the holders of securities of TVA III in liquidation of TVA III. The taxable year of TVA III will be deemed to end on the date of the Domestication.If the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code), a Holder of TVA III Securities generally would be treated for U.S. federal income tax purposes as having exchanged its TVA III Class A Ordinary Shares for TVA III Class A Common Stock, or TVA III Warrants for TVA III Delaware Warrants, in a taxable transaction.<div>U.S. HoldersAs used in this proxy statement/prospectus, a “U.S. Holder” is a beneficial owner of a TVA III Security, TVA III Delaware Security or a Post-Closing Company Security, as applicable, that for U.S. federal income tax purposes is, or is treated as:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an individual who is a citizen or resident of the United States;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a corporation that is created or organized in or under the laws of the United States or any state in the United States or the District of Columbia;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate whose income is subject to U.S. federal income tax regardless of its source; or</div></div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a trust if (1) a U.S. court can exercise primary supervision over the administration of such trust and one or more “United States persons” (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (2) the trust has a valid election in place to be treated as a United States person.</div></div>Tax Effects of the Domestication to U.S. HoldersGenerallyAssuming the Domestication qualifies as an F Reorganization, U.S. Holders of TVA III Securities generally should not recognize gain or loss for U.S. federal income tax purposes in connection with the Domestication, except as provided below under the sections entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares” and “— 5. PFIC Considerations.”Subject to the discussion below under the section entitled “— PFIC Considerations,” if the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code), a U.S. Holder of TVA III Securities generally would recognize gain or loss with respect to its TVA III Securities in an amount equal to the difference, if any, between the fair market value of the corresponding TVA III Delaware Securities received in the Domestication and the U.S. Holder’s adjusted tax basis in its TVA III Securities surrendered.U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication. All U.S. Holders considering exercising redemption rights with respect to TVA III public shares are urged to consult with their tax advisors with respect to the potential tax consequences to them of the Domestication and exercise of redemption rights.Basis and Holding Period ConsiderationsAssuming the Domestication qualifies as an F Reorganization, subject to the discussion below under the section entitled “—PFIC Considerations”: (1) the tax basis of a share of TVA III Class A Common Stock or TVA III Delaware Warrant received by a U.S. Holder in the Domestication will equal the U.S. Holder’s tax basis in the TVA III Class A Ordinary Share or TVA III Warrant surrendered in exchange therefor, increased by any amount included in the income of such U.S. Holder as a result of Section 367 of the Code (as discussed below) and (2) the holding period for a share of TVA III Class A Common Stock or TVA III Delaware Warrant received by a U.S. Holder will include such U.S. Holder’s holding period for the TVA III Class A Ordinary Share or TVA III Warrant surrendered in exchange therefor. If the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code), the U.S. Holder’s basis in the TVA III Class A Common Stock and TVA III Delaware Warrant would be equal to the sum of the fair market value of such TVA III Class A Common Stock and TVA III Delaware Warrant on the date of the Domestication, and such U.S. Holder’s holding period for such TVA III Class A Common Stock and TVA III Delaware Warrant would begin on the day following the date of the Domestication. Holders who hold different blocks of TVA III Securities (generally, TVA III Securities purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them, and the discussion above is general in nature and does not specifically address all of the consequences to U.S. Holders who hold different blocks of TVA III Securities.Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary SharesSection 367 of the Code applies to certain transactions involving foreign corporations, including a domestication of a foreign corporation in a transaction that qualifies as an F Reorganization. Subject to the discussion below under the section entitled “— PFIC Considerations,” Section 367(b) of the Code and the Treasury Regulations promulgated thereunder impose U.S. federal income tax on certain U.S. persons in connection with </div><div>transactions that would otherwise be tax-deferred. Section 367(b) of the Code will generally apply to U.S. Holders on the date of the Domestication, including any such U.S. Holders exercising redemption rights.U.S. Holders Who Own Ten Percent or More (By Vote or Value) of TVA III Shares. Subject to the discussion below under the section entitled “— PFIC Considerations,” a 10% U.S. Shareholder on the date of the Domestication must include in income as a deemed dividend deemed paid by TVA III the “all earnings and profits amount” attributable to the TVA III Class A Ordinary Shares it directly owns within the meaning of Treasury Regulations under Section 367(b) of the Code. A U.S. Holder’s ownership of TVA III Warrants will be taken into account in determining whether such U.S. Holder is a 10% U.S. Shareholder. Complex attribution rules apply in determining whether a U.S. Holder is a 10% U.S. Shareholder and all U.S. Holders are urged to consult their tax advisors with respect to these attribution rules.A 10% U.S. Shareholder’s “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares is the net positive earnings and profits of TVA III attributable to such TVA III Class A Ordinary Shares (each as determined under Treasury Regulations under Section 367(b) of the Code) but without regard to any gain that would be realized on a sale or exchange of such TVA III Class A Ordinary Shares. Treasury Regulations under Section 367(b) of the Code provide that the “all earnings and profits amount” attributable to a shareholder’s stock is determined according to the principles of Section 1248 of the Code. In general, Section 1248 of the Code and the Treasury Regulations under the Code provide that the amount of earnings and profits attributable to a block of stock (as defined in Treasury Regulations under Section 1248 of the Code) in a foreign corporation is the ratably allocated portion of the foreign corporation’s earnings and profits generated during the period the shareholder held the block of stock.TVA III does not expect to have significant, if any, cumulative net earnings and profits on the date of the Domestication. If TVA III’s cumulative net earnings and profits through the date of the Domestication are less than or equal to zero, then a 10% U.S. Shareholder should not be required to include in gross income an “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares. However, the determination of earnings and profits is complex and may be impacted by numerous factors (including matters discussed in this proxy statement/prospectus). It is possible that the amount of TVA III’s cumulative net earnings and profits could be positive through the date of the Domestication, in which case a 10% U.S. Shareholder would be required to include its “all earnings and profits amount” in income as a deemed dividend deemed paid by TVA III under Treasury Regulations under Section 367(b) of the Code as a result of the Domestication. Any such deemed dividend is expected to be treated as foreign-source income for U.S. federal income tax purposes, and is not expected to be eligible for preferential tax rates because TVA III is expected to be treated as a PFIC.U.S. Holders Who Own Less Than 10% (By Vote or Value) of TVA III Shares. Subject to the discussion below under the section entitled “— PFIC Considerations,” a U.S. Holder who, on the date of the Domestication, is not a 10% U.S. Shareholder and whose TVA III Class A Common Stock has a fair market value of $50,000 or more on the date of the Domestication will recognize gain (but not loss) with respect to the TVA III Class A Common Stock received in the Domestication or, in the alternative, may elect to recognize the “all earnings and profits amount” attributable to such U.S. Holder’s TVA III Class A Ordinary Shares as described below.Subject to the discussion below under the section entitled “— PFIC Considerations,” unless a U.S. Holder makes the “all earnings and profits election” as described below, such U.S. Holder generally must recognize gain (but not loss) with respect to TVA III Class A Common Stock received in the Domestication in an amount equal to the excess of the fair market value of such TVA III Class A Common Stock over the U.S. Holder’s adjusted tax basis in the TVA III Class A Ordinary Shares deemed surrendered in exchange therefor. U.S. Holders who hold different blocks of TVA III Class A Ordinary Shares (generally, TVA III Class A Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them.In lieu of recognizing any gain as described in the preceding paragraph, a U.S. Holder may elect to include in income as a deemed dividend deemed paid by TVA III the “all earnings and profits amount” attributable to its TVA III Class A Ordinary Shares under Section 367(b) of the Code. There are, however, strict conditions for making this election. This election must comply with applicable Treasury Regulations and generally must include, among other things:</div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement that the Domestication is a Section 367(b) exchange (within the meaning of the applicable Treasury Regulations);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a complete description of the Domestication;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a description of any stock, securities or other consideration transferred or received in the Domestication;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement describing the amounts required to be taken into account for U.S. federal income tax purposes; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement that the U.S. Holder is making the election described in Treasury Regulations Section 1.367(b)-3(c)(3), which must include (1) a copy of the information that the U.S. Holder received from TVA III (or the Post-Closing Company) establishing and substantiating the U.S. Holder’s “all earnings and profits amount” with respect to the U.S. Holder’s TVA III Class A Ordinary Shares and (2) a representation that the U.S. Holder has notified TVA III (or TVA III Delaware or the Post-Closing Company) that the U.S. Holder is making the election described in Treasury Regulations Section 1.367(b)-3(c)(3); and </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">certain other information required to be furnished with the U.S. Holder’s tax return or otherwise furnished pursuant to the Code or the Treasury Regulations.</div></div>The election must be attached by an electing U.S. Holder to such U.S. Holder’s timely filed U.S. federal income tax return (including extensions, if any) for the taxable year in which the Domestication occurs, and the U.S. Holder must send notice of making the election to TVA III or TVA III Delaware no later than the date such tax return is filed. In connection with this election, TVA III Delaware will reasonably cooperate with U.S. Holders of TVA III Class A Ordinary Shares, upon written request, to make available to such requesting U.S. Holders information regarding TVA III’s earnings and profits.TVA III does not expect to have significant, if any, cumulative earnings and profits through the date of the Domestication and if that proves to be the case, U.S. Holders who make this election are not expected to have a significant income inclusion under Section 367(b) of the Code, provided that the U.S. Holder properly executes the election and complies with the applicable notice requirements. However, as noted above, if it were determined that TVA III had positive earnings and profits through the date of the Domestication, a U.S. Holder that makes the election described in this proxy statement/prospectus could have an “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares, and thus could be required to include that amount in income as a deemed dividend deemed paid by TVA III under applicable Treasury Regulations as a result of the Domestication. Any such deemed dividend is expected to be treated as foreign-source income for U.S. federal income tax purposes, and is not expected to be eligible for preferential tax rates because TVA III is expected to be treated as a PFIC.Each U.S. Holder is urged to consult its tax advisor regarding the consequences to it of making an election to include in income the “all earnings and profits amount” attributable to its TVA III Class A Ordinary Shares under Section 367(b) of the Code and the appropriate filing requirements with respect to such election. A U.S. Holder who, on the date of the Domestication, is not a 10% U.S. Shareholder and whose TVA III Class A Ordinary Shares have a fair market value of less than $50,000 on the date of the Domestication generally should not be required by Section 367(b) of the Code and the Treasury Regulations promulgated thereunder to recognize any gain or loss or include any part of the “all earnings and profits amount” in income in connection with the Domestication. However, such U.S. Holder may be subject to taxation under the PFIC rules as discussed below under the section entitled “— PFIC Considerations.”Tax Consequences for U.S. Holders of TVA III WarrantsAssuming the Domestication qualifies as an F Reorganization, subject to the considerations described above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares — U.S. Holders Who Own 10 Percent or More (By Vote or Value) of TVA III Shares” relating to a U.S. Holder’s ownership </div><div>of TVA III Warrants being taken into account in determining whether such U.S. Holder is a 10% U.S. Shareholder for purposes of Section 367(b) of the Code and the considerations described below under the section entitled “— PFIC Considerations” relating to the PFIC rules, a U.S. Holder of TVA III Warrants should not be subject to U.S. federal income tax with respect to the exchange of TVA III Warrants for TVA III Delaware Warrants in the Domestication.All U.S. Holders are urged to consult their tax advisors with respect to the effect of Section 367 of the Code to their particular circumstances. PFIC ConsiderationsRegardless of whether the Domestication qualifies as an F Reorganization (and, if the Domestication qualifies as an F Reorganization, in addition to the discussion above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares”), the Domestication could be a taxable event to U.S. Holders under the PFIC provisions of the Code if TVA III is considered a PFIC.Definition of a PFIC. A foreign (i.e., non-United States) corporation will be classified as a PFIC for U.S. federal income tax purposes if either (1) at least 75% of its gross income in a taxable year, including its pro rata share of the gross income of any corporation in which it is considered to own at least 25% of the shares by value, is passive income or (2) at least 50% of its assets in a taxable year (generally determined based on fair market value and averaged quarterly over the year), including its pro rata share of the assets of any corporation in which it is considered to own at least 25% of the shares by value, are held for the production of, or produce, passive income. Passive income generally includes dividends, interest, rents and royalties (other than rents or royalties derived from the active conduct of a trade or business received from unrelated persons) and gains from the disposition of passive assets. The determination of whether a foreign corporation is a PFIC is made annually. Pursuant to a “startup exception,” a foreign corporation will not be a PFIC for the first taxable year the foreign corporation has gross income (the “startup year”) if (1) no predecessor of the foreign corporation was a PFIC; (2) the foreign corporation satisfies to the IRS that it will not be a PFIC for either of the first two taxable years following the startup year; and (3) the foreign corporation is not in fact a PFIC for either of those years.PFIC Status of TVA III. Based upon the composition of its income and assets, and upon a review of its financial statements, TVA III believes that it likely will not be eligible for the startup exception and therefore likely has been a PFIC since its first taxable year and will likely be considered a PFIC for each taxable year thereafter, including the taxable year which ends as a result of the Domestication.Effects of PFIC Rules on the Domestication. Even if the Domestication qualifies as an F Reorganization, Section 1291(f) of the Code requires that, to the extent provided in Treasury Regulations, a U.S. person who disposes of stock of a PFIC (including for this purpose, under a proposed Treasury Regulation that generally treats an “option” (which would generally include a TVA III Warrant) to acquire the stock of a PFIC as stock of the PFIC, exchanging warrants of a PFIC for newly issued warrants in connection with a domestication transaction) recognizes gain notwithstanding any other provision of the Code. No final Treasury Regulations are currently in effect under Section 1291(f) of the Code. However, proposed Treasury Regulations under Section 1291(f) of the Code have been promulgated with a retroactive proposed effective date. If finalized in their current form, those proposed Treasury Regulations would require gain recognition to U.S. Holders of TVA III Class A Ordinary Shares and TVA III Warrants as a result of the Domestication if:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III were classified as a PFIC at any time during such U.S. Holder’s holding period in such TVA III Class A Ordinary Shares or TVA III Warrants; and </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the U.S. Holder had not timely made (1) a QEF Election (as defined below) for the first taxable year in which the U.S. Holder owned such TVA III Class A Ordinary Shares or in which TVA III was a PFIC, whichever is later (or a QEF Election along with a purging election), or (2) an MTM Election (as defined </div></div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.13195601466178%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">below) with respect to such TVA III Class A Ordinary Shares. Under current law, neither a QEF Election nor an MTM Election can be made with respect to warrants (including TVA III Warrants).</div></div>The tax on any such recognized gain would be imposed based on a complex set of computational rules designed to offset the tax deferral with respect to the undistributed earnings of TVA III. Under these rules (the “excess distributions regime”):<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the U.S. Holder’s gain will be allocated ratably over the U.S. Holder’s holding period for such U.S. Holder’s TVA III Class A Ordinary Shares or TVA III Warrants;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the amount of gain allocated to the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain, or to the period in the U.S. Holder’s holding period before the first day of the first taxable year in which TVA III was a PFIC, will be taxed as ordinary income;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the amount of gain allocated to other taxable years (or portions of such taxable years) of the U.S. Holder and included in such U.S. Holder’s holding period would be taxed at the highest tax rate in effect for that year and applicable to the U.S. Holder; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the U.S. Holder in respect of the tax attributable to each such other taxable year (described in the third bullet above) of such U.S. Holder.</div></div>The proposed Treasury Regulations provide coordinating rules with Section 367(b) of the Code, whereby, if the gain recognition rule of the proposed Treasury Regulations applied to a disposition of PFIC stock that results from a transfer with respect to which Section 367(b) of the Code requires the U.S. Holder to recognize gain or include an amount in income as a deemed dividend deemed paid by TVA III, the gain realized on the transfer is taxable as an excess distribution under the excess distribution regime, and the excess, if any, of the amount to be included in income under Section 367(b) of the Code over the gain realized under the excess distribution regime is taxable as provided under Section 367(b) of the Code. See the discussion above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares.”It is difficult to predict whether, in what form and with what effective date, final Treasury Regulations under Section 1291(f) of the Code may be adopted or how any such final Treasury Regulations would apply. Therefore, U.S. Holders of TVA III Class A Ordinary Shares that have not made a timely and effective QEF Election (or a QEF Election along with a purging election) or an MTM Election (each as defined below) may, pursuant to the proposed Treasury Regulations, be subject to taxation under the PFIC rules on the Domestication with respect to their TVA III Class A Ordinary Shares and TVA III Warrants under the excess distribution regime in the manner set forth above. A U.S. Holder that made a timely and effective QEF Election (or a QEF Election along with a purging election) or an MTM Election with respect to its TVA III Class A Ordinary Shares is referred to in this proxy statement/prospectus as an “Electing Shareholder” and a U.S. Holder that is not an Electing Shareholder is referred to in this proxy statement/prospectus as a “Non-Electing Shareholder.”As discussed above, proposed Treasury Regulations issued under the PFIC rules generally treat an “option” (which would include a TVA III Warrant) to acquire the stock of a PFIC as stock of the PFIC, while final Treasury Regulations issued under the PFIC rules provide that neither a QEF Election nor an MTM Election (as defined below) may be made with respect to options. Therefore, it is possible that the proposed Treasury Regulations, if finalized in their current form, would apply to cause gain recognition on the exchange of TVA III Warrants for TVA III Delaware Warrants pursuant to the Domestication.Any gain recognized by a Non-Electing Shareholder of TVA III Class A Ordinary Shares or a U.S. Holder of TVA III Warrants as a result of the Domestication pursuant to the PFIC rules would be taxable income to such </div><div>U.S. Holder and taxed under the excess distribution regime in the manner set forth above, with no corresponding receipt of cash.As noted above, if TVA III is considered a PFIC, the Domestication could be a taxable event under the PFIC rules regardless of whether the Domestication qualifies as an F Reorganization, and, absent a QEF Election (or a QEF Election along with a purging election) or an MTM Election, a U.S. Holder would be taxed under the excess distribution regime in the manner set forth above.All U.S. Holders are urged to consult their tax advisors regarding the effects of the PFIC Rules on the Domestication, including the impact of any proposed or final Treasury Regulations. QEF Election and Mark-to-Market ElectionThe impact of the PFIC rules on a U.S. Holder of TVA III Class A Ordinary Shares will depend on whether the U.S. Holder has made a timely and effective election to treat TVA III as a “qualified electing fund” under Section 1295 of the Code for the taxable year that is the first year in the U.S. Holder’s holding period of TVA III Class A Ordinary Shares during which TVA III qualified as a PFIC (a “QEF Election”) or, if in a later taxable year, the U.S. Holder made a QEF Election along with a purging election. One type of purging election creates a deemed sale of the U.S. Holder’s TVA III Class A Ordinary Shares at their then fair market value and requires the U.S. Holder to recognize gain pursuant to such purging election subject to the excess distribution regime described above. As a result of any such purging election, the U.S. Holder would increase the adjusted tax basis in its TVA III Class A Ordinary Shares by the amount of the gain recognized and, solely for purposes of the PFIC rules, would have a new holding period in its TVA III Class A Ordinary Shares. U.S. Holders are urged to consult their tax advisors as to the application of the rules governing purging elections to their particular circumstances.A U.S. Holder’s ability to make a timely and effective QEF Election (or a QEF Election along with a purging election) with respect to its TVA III Class A Ordinary Shares is contingent upon, among other things, the provision by TVA III of a “PFIC Annual Information Statement” to such U.S. Holder.TVA III or the Post-Closing Company (as applicable) will endeavor to provide a requesting U.S. Holder such information the IRS may require, including a PFIC Annual Information Statement, for making or maintaining a QEF Election (or making a QEF Election along with a purging election) for TVA III’s taxable year that ends on the date of the Domestication (and prior taxable years), but there is no assurance that TVA III or the Post-Closing Company will timely provide such required information. As discussed above, a U.S. Holder is not able to make a QEF Election with respect to TVA III Warrants under current law. An Electing Shareholder generally would not be subject to the excess distribution regime discussed above with respect to their TVA III Class A Ordinary Shares. As a result, an Electing Shareholder generally should not recognize gain or loss as a result of the Domestication except to the extent described under “— 3. Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares,” and subject to the discussion above under “— Tax Effects of the Domestication to U.S. Holders,” but rather would include annually in gross income its pro rata share of the ordinary earnings and net capital gain of TVA III, whether or not such amounts are actually distributed.The impact of the PFIC rules on a U.S. Holder of TVA III Class A Ordinary Shares may also depend on whether the U.S. Holder has made a mark-to-market election under Section 1296 of the Code (an “MTM Election”). U.S. Holders who hold (actually or constructively) stock of a foreign corporation that is classified as a PFIC may elect to mark such stock to its market value each taxable year if such stock is “marketable stock,” generally, stock that is regularly traded on a stock exchange that is registered with the SEC, including the Nasdaq. No assurance can be given that TVA III Class A Ordinary Shares are considered to be marketable stock for purposes of the MTM Election for any taxable year or whether the other requirements of this election are satisfied. If such an election is available and has been made, such Electing Shareholder generally would not be subject to the excess distributions regime discussed above with respect to their TVA III Class A Ordinary Shares in connection with the Domestication. Instead, in general, such Electing Shareholder will include as ordinary income each year the excess, if any, of the fair market value of its TVA III Class A Ordinary Shares at the end of its taxable year over its adjusted tax basis in its TVA III Class A Ordinary Shares. The Electing Shareholder also will recognize an ordinary loss in respect of the excess, if any, of its adjusted tax basis in its TVA III Class A Ordinary Shares over the fair market value of its TVA III Class A Ordinary Shares at the end of its taxable year (but only to the extent of the net amount of previously included income as a result of the MTM Election). The Electing Shareholder’s </div><div>tax basis in its TVA III Class A Ordinary Shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable disposition of its TVA III Class A Ordinary Shares will be treated as ordinary income (and any further loss recognized on such sale or disposition in excess of the net amount previously included in income as a result of the MTM Election would be capital loss). However, if the MTM Election is not made by a U.S. Holder with respect to the first taxable year of its holding period for the TVA III Class A Ordinary Shares in which TVA III is a PFIC, then the excess distribution regime discussed above will apply to certain dispositions of, distributions on and other amounts taxable with respect to, TVA III Class A Ordinary Shares, including in connection with the Domestication. Under current law, an MTM Election is not available with respect to warrants, including the TVA III Warrants.The rules dealing with PFICs are very complex and are impacted by various factors in addition to those described above, including the application of the rules addressing overlaps in the PFIC rules and the Section 367(b) rules and the rules relating to Controlled Foreign Corporations. All U.S. Holders of TVA III Securities are urged to consult their tax advisors regarding the consequences to them of the PFIC rules, including whether a QEF Election (or a QEF Election along with a purging election), an MTM election or any other election is available and whether and how any overlap rules apply, and the consequences to them of any such election or overlap rule and the impact of any proposed or final PFIC Treasury Regulations. Tax Effects to U.S. Holders of Exercising Redemption RightsGenerallyThe U.S. federal income tax consequences to a U.S. Holder of TVA III public shares that exercises its redemption rights with respect to its TVA III public shares will depend on whether the redemption qualifies as a sale of under Section 302 of the Code. If the redemption qualifies as a sale of shares by a U.S. Holder, the tax consequences to such U.S. Holder are as described below under the section entitled “— Taxation of Redemption Treated as a Sale.” If the redemption does not qualify as a sale of shares, a U.S. Holder will be treated as receiving a corporate distribution with the tax consequences to such U.S. Holder as described below under the section entitled “— Taxation of Redemption Treated as a Distribution.”Whether a redemption of shares qualifies for sale treatment will depend largely on the total number of shares of the Post-Closing Company Class A common stock treated as held by the redeemed U.S. Holder before and after the redemption (including any shares treated as constructively owned by the U.S. Holder as a result of owning TVA III Warrants and any shares that a U.S. Holder would directly or indirectly acquire pursuant to the business combination) relative to all of the stock of the Post-Closing Company outstanding both before and after the redemption. The redemption generally will be treated as a sale of shares (rather than as a corporate distribution) if the redemption (1) is “substantially disproportionate” with respect to the U.S. Holder, (2) results in a “complete termination” of the U.S. Holder’s interest in the Post-Closing Company or (3) is “not essentially equivalent to a dividend” with respect to the U.S. Holder. These tests are explained more fully below.In determining whether any of the foregoing tests result in a redemption qualifying for sale treatment, a U.S. Holder takes into account not only shares actually owned by the U.S. Holder, but also shares that are constructively owned by it under certain attribution rules set forth in the Code. A U.S. Holder may constructively own, in addition to shares owned directly, shares owned by certain related individuals and entities in which the U.S. Holder has an interest or that have an interest in such U.S. Holder, as well as any shares that the holder has a right to acquire by exercise of an option, which would generally include shares which could be acquired pursuant to the exercise of Post-Closing Company public warrants. Moreover, any shares that a U.S. Holder directly or constructively acquires pursuant to the business combination generally should be included in determining the U.S. federal income tax treatment of the redemption.In order to meet the substantially disproportionate test, the percentage of the Post-Closing Company’s outstanding voting stock actually and constructively owned by the U.S. Holder immediately following the redemption of shares must, among other requirements, be less than 80% of the percentage of TVA III’s outstanding voting stock actually and constructively owned by the U.S. Holder immediately before the redemption (determined based on reduction in voting power, and taking into account redemptions by other holders and possibly the Post-Closing Company stock to be issued pursuant to the business combination). There will be a complete termination of a U.S. Holder’s interest in the Post-Closing Company if either (1) all of the shares actually and constructively owned by the U.S. Holder are redeemed or (2) all of the shares actually owned by the U.S. Holder are redeemed </div><div>and the U.S. Holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and the U.S. Holder does not constructively own any other shares (including any stock constructively owned by the U.S. Holder as a result of owning TVA III Warrants). The redemption will not be essentially equivalent to a dividend if the redemption results in a “meaningful reduction” of the U.S. Holder’s proportionate interest in the Post-Closing Company. Whether the redemption will result in a meaningful reduction in a U.S. Holder’s proportionate interest in the Post-Closing Company will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority stockholder in a publicly held corporation where such stockholder exercises no control over corporate affairs may constitute such a “meaningful reduction.”If none of the foregoing tests is satisfied, then the redemption of shares generally will be treated as a corporate distribution to the redeemed U.S. Holder and the tax effects to such a U.S. Holder will be as described below under the section entitled “—Taxation of Redemption Treated as a Distribution.” After the application of those rules, any remaining tax basis of the U.S. Holder in the redeemed shares will be added to the U.S. Holder’s adjusted tax basis in its remaining Post-Closing Company Class A common stock or, if it has none, to the U.S. Holder’s adjusted tax basis in its Post-Closing Company public warrants or possibly in other Post-Closing Company Class A common stock constructively owned by it.U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication (discussed further above).U.S. Holders who actually or constructively own at least five percent by vote or value (or, if Post-Closing Company Class A common stock is not then publicly traded, at least one percent by vote or value) or more of the total outstanding Post-Closing Company Class A common stock may be subject to special reporting requirements with respect to a redemption of shares, and such holders should consult with their tax advisors with respect to their reporting requirements.Taxation of Redemption Treated as a DistributionIf the redemption of a U.S. Holder’s shares is treated as a corporate distribution, as discussed above under the section entitled “— Generally,” the amount of cash received in the redemption generally will constitute a dividend for U.S. federal income tax purposes to the extent paid from the Post-Closing Company’s current or accumulated earnings and profits, as determined under U.S. federal income tax principles.Distributions in excess of the Post-Closing Company’s current and accumulated earnings and profits will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. Holder’s adjusted tax basis in its shares. Any remaining excess will be treated as gain realized on the sale of shares and will be treated as described below under the section entitled “— Taxation of Redemption Treated as a Sale.”Taxation of Redemption Treated as a SaleIf the redemption of a U.S. Holder’s shares is treated as a sale, as discussed above under the section entitled “— Generally,” a U.S. Holder generally will recognize capital gain or loss in an amount equal to the difference between the amount of cash received in the redemption and the U.S. Holder’s adjusted tax basis in the shares redeemed. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder’s holding period for the shares so disposed of exceeds one year. Long-term capital gains recognized by non-corporate U.S. Holders generally will be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations.U.S. Holders who hold different blocks of shares (including as a result of holding different blocks of TVA III Class A Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them.ALL U.S. HOLDERS ARE URGED TO CONSULT THEIR TAX ADVISORS AS TO THE TAX CONSEQUENCES TO THEM OF AN EXERCISE OF REDEMPTION RIGHTS.</div><div>Tax Consequences of Ownership and Disposition of Post-Closing Company SecuritiesTaxation of DistributionsIn general, distributions of cash or other property to U.S. Holders of Post-Closing Company Class A common stock (other than certain distributions of the Post-Closing Company Class A common stock or rights to acquire the Post-Closing Company Class A common stock) generally will constitute dividends for U.S. federal income tax purposes to the extent paid from the Post-Closing Company’s current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Distributions in excess of current and accumulated earnings and profits generally will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. Holder’s adjusted tax basis in its Post-Closing Company Class A common stock. Any remaining excess generally will be treated as gain realized on the sale or other disposition of the Post-Closing Company Class A common stock, as described below under the section entitled “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Dividends paid to a U.S. Holder that is treated as a taxable corporation for U.S. federal income tax purposes generally will qualify for the dividends received deduction if the requisite holding period is satisfied. With certain exceptions (including dividends treated as investment income for purposes of investment interest deduction limitations), and provided certain holding period requirements are met, dividends paid to a non-corporate U.S. Holder generally will constitute “qualified dividend income” subject to tax at reduced rates applicable to long-term capital gains.Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company SecuritiesUpon a sale or other taxable disposition of Post-Closing Company Securities (which, in general, would include a redemption of Post-Closing Company public warrants that is treated as a sale of such warrants as described below), a U.S. Holder generally will recognize capital gain or loss in an amount equal to the difference between the amount realized and the U.S. Holder’s adjusted tax basis in the Post-Closing Company Securities. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder’s holding period for the Post-Closing Company Securities so disposed of exceeds one year. Long-term capital gains recognized by non-corporate U.S. Holders may be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations. Generally, the amount of gain or loss recognized by a U.S. Holder is an amount equal to the difference between (1) the sum of the amount of cash and the fair market value of any property received in such disposition and (2) the U.S. Holder’s adjusted tax basis in its Post-Closing Company Securities so disposed of. See the section entitled “— Tax Effects of the Domestication to U.S. Holders” above for a discussion of a U.S. Holder’s adjusted tax basis in its securities following the Domestication. See the section entitled “— Exercise, Lapse or Redemption of Post-Closing Company Public Warrants” below for a discussion regarding a U.S. Holder’s tax basis in Post-Closing Company Class A common stock acquired pursuant to the exercise of a Post-Closing Company public warrant.Exercise, Lapse or Redemption of Post-Closing Company Public WarrantsA U.S. Holder generally will not recognize taxable gain or loss on the acquisition of Post-Closing Company Class A common stock upon exercise of Post-Closing Company public warrants for cash. The U.S. Holder’s tax basis in the shares of Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants generally will be an amount equal to the sum of the U.S. Holder’s tax basis in the Post-Closing Company public warrants and the exercise price. It is unclear whether the U.S. Holder’s holding period for the Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants will begin on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period will not include the period during which the U.S. Holder held the Post-Closing Company public warrants. If any Post-Closing Company public warrants are allowed to lapse unexercised, a U.S. Holder generally will recognize a capital loss equal to such holder’s tax basis in the lapsed Post-Closing Company public warrants.</div><div>The tax consequences of a cashless exercise of Post-Closing Company public warrants are not clear under current tax law. A cashless exercise may not be taxable, either because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. If the cashless exercise is not taxable, a U.S. Holder’s basis in the Post-Closing Company Class A common stock received would equal the U.S. Holder’s basis in the Post-Closing Company public warrants exercised therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a U.S. Holder’s holding period in the Post-Closing Company Class A common stock would be treated as commencing on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the period during which the U.S. Holder held the Post-Closing Company public warrants. If the cashless exercise were treated as a recapitalization, the holding period of the Post-Closing Company Class A common stock would include the holding period of the Post-Closing Company public warrants exercised therefor.It is also possible that a cashless exercise could be treated in part as a taxable exchange in which gain or loss would be recognized. In such event, a U.S. Holder could be deemed to have surrendered a number of Post-Closing Company public warrants equal to the number of shares of Post-Closing Company Class A common stock having a value equal to the exercise price for the total number of Post-Closing Company public warrants to be exercised. In such case, the U.S. Holder would recognize capital gain or loss with respect to the Post-Closing Company public warrants deemed surrendered in an amount equal to the difference between the fair market value of the Post-Closing Company Class A common stock that would have been received in a regular exercise of the Post-Closing Company public warrants deemed surrendered and the U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed surrendered. In this case, a U.S. Holder’s aggregate tax basis in the Post-Closing Company Class A common stock received would equal the sum of the U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed exercised and the aggregate exercise price of such Post-Closing Company public warrants. It is unclear whether a U.S. Holder’s holding period for the Post-Closing Company Class A common stock would commence on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the period during which the U.S. Holder held the Post-Closing Company public warrants.Due to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, including when a U.S. Holder’s holding period would commence with respect to the Post-Closing Company Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law. Accordingly, U.S. Holders should consult their tax advisors regarding the tax consequences of a cashless exercise.If the Post-Closing Company redeems Post-Closing Company public warrants for cash or if it purchases Post-Closing Company public warrants in an open market transaction, such redemption or purchase generally will be treated as a taxable disposition to the U.S. Holder, taxed as described above under the section entitled “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Possible Constructive DistributionsConsistent with the TVA III Warrants, the terms of each Post-Closing Company public warrant will provide for an adjustment to the number of shares of Post-Closing Company Class A common stock for which the Post-Closing Company public warrant may be exercised or to the exercise price of the Post-Closing Company public warrant in certain events. An adjustment which has the effect of preventing dilution generally is not taxable. A U.S. Holder of the Post-Closing Company public warrants would, however, be treated as receiving a constructive distribution from the Post-Closing Company if, for example, the adjustment increases the U.S. Holder’s proportionate interest in the Post-Closing Company’s assets or earnings and profits (for example, through an increase in the number of shares of Post-Closing Company Class A common stock that would be obtained upon exercise or through a decrease in the exercise price of the Post-Closing Company public warrant), which adjustment may be made as a result of a distribution of cash or other property, such as other securities, to the holders of shares of the Post-Closing Company stock, or as a result of the issuance of a stock dividend to holders of shares of the Post-Closing Company stock, in each case, which is taxable to the holders of such shares as a distribution. Such constructive distribution generally would be subject to tax as described above under the section entitled “— Taxation of Distributions” in the same manner as if the U.S. Holders of the Post-Closing Company </div><div>public warrants received a cash distribution from the Post-Closing Company equal to the fair market value of such increased interest.Information Reporting and Backup WithholdingPayments of dividends on and the proceeds from a sale or other disposition of Post-Closing Company Securities will be subject to information reporting to the IRS and U.S. backup withholding on such payments may be possible. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes other required certifications, or who is otherwise exempt from backup withholding and establishes such exempt status.Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a U.S. Holder’s U.S. federal income tax liability, and the U.S. Holder generally may obtain a refund of any excess amounts withheld under the backup withholding rules by timely filing the appropriate claim for refund with the IRS and furnishing any required information.Non-U.S. HoldersAs used in this proxy statement/prospectus, a “Non-U.S. Holder” is a beneficial owner of a TVA III Security or Post-Closing Company Security, as applicable, who or that for U.S. federal income tax purposes is, or is treated as:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a non-resident alien individual, other than certain former citizens and residents of the United States subject to U.S. tax as expatriates;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a foreign corporation; or</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate or trust that is not a U.S. Holder.</div></div>Tax Effects of the Domestication to Non-U.S. HoldersThe Domestication is not expected to result in any U.S. federal income tax consequences to a Non-U.S. Holder of TVA III Securities unless the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code) and such Non-U.S. Holder holds its TVA III Securities in connection with a conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such Non-U.S. Holder maintains in the United States) or is a nonresident alien individual who is physically present in the United States for at least 183 days during that individual’s taxable year in which the Domestication occurs and meets certain other requirements. Non-U.S. Holders will own stock and warrants of a U.S. corporation, i.e., the Post-Closing Company, rather than a non-U.S. corporation, i.e., TVA III, after the Domestication.Non-U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication. All Non-U.S. Holders considering exercising redemption rights with respect to TVA III Class A Ordinary Shares are urged to consult with their tax advisors with respect to the potential tax consequences to them of the Domestication and exercise of redemption rights.Tax Effects to Non-U.S. Holders of Exercising Redemption RightsThe U.S. federal income tax consequences to a Non-U.S. Holder of TVA III Class A Ordinary Shares that exercises its redemption rights will depend on whether the redemption qualifies as a sale of shares redeemed, as described above under “U.S. Holders — Tax Effects to U.S. Holders of Exercising Redemption Rights — Generally.” The U.S. federal income tax consequences to the Non-U.S. Holder will be as described below under “— Tax Consequences of Ownership and Disposition of Post-Closing Company Securities — Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” If the redemption does not qualify as a sale of Post-Closing Company Class A common stock, the Non-U.S. Holder will be treated as receiving a </div><div>corporate distribution, the U.S. federal income tax consequences of which are described below under “— Tax Consequences of Ownership and Disposition of Post-Closing Company Securities — Taxation of Distributions.”Because it may not be certain at the time a Non-U.S. Holder is redeemed whether such Non-U.S. Holder’s redemption will be treated as a sale of shares or a corporate distribution, and because such determination will depend in part on a Non-U.S. Holder’s particular circumstances, the applicable withholding agent may not be able to determine whether (or to what extent) a Non-U.S. Holder is treated as receiving a dividend for U.S. federal income tax purposes. Therefore, the applicable withholding agent may withhold tax at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on the gross amount of any consideration paid to a Non-U.S. Holder in redemption of such Non-U.S. Holder’s Post-Closing Company Class A common stock, unless (1) the applicable withholding agent has established special procedures allowing Non-U.S. Holders to certify that they are exempt from such withholding tax and (2) such Non-U.S. Holders are able to certify that they meet the requirements of such exemption (e.g., because such Non-U.S. Holders are not treated as receiving a dividend under the Section 302 tests described above under the section entitled “U.S. Holders — Tax Effects to U.S. Holders of Exercising Redemption Rights — Generally”). However, there can be no assurance that any applicable withholding agent will establish such special certification procedures. If an applicable withholding agent withholds excess amounts from the amount payable to a Non-U.S. Holder, such Non-U.S. Holder generally may obtain a refund of any such excess amounts by timely filing an appropriate claim for refund with the IRS. Non-U.S. Holders should consult their own tax advisors regarding the application of the foregoing rules in light of their particular facts and circumstances and any applicable procedures or certification requirements.Tax Consequences of Ownership and Disposition of Post-Closing Company SecuritiesTaxation of DistributionsIn general, any distributions (including constructive distributions, but not including certain distributions of the Post-Closing Company stock or rights to acquire the Post-Closing Company stock) made to a Non-U.S. Holder of shares of Post-Closing Company Class A common stock, to the extent paid out of the Post-Closing Company’s current or accumulated earnings and profits (as determined under U.S. federal income tax principles), will constitute dividends for U.S. federal income tax purposes and, provided such dividends are not effectively connected with the Non-U.S. Holder’s conduct of a trade or business within the United States, the Post-Closing Company (or another applicable withholding agent) will be required to withhold tax from the gross amount of the dividend at a rate of 30%, unless such Non-U.S. Holder is eligible for a reduced rate of withholding tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced rate (usually on an IRS Form W-8BEN or W-8BEN-E). In the case of any constructive dividend, it is possible that this tax would be withheld from any amount owed to a Non-U.S. Holder by the applicable withholding agent, including cash distributions on other property or sale proceeds from warrants or other property subsequently paid or credited to such Non-U.S. Holder. Any distribution not constituting a dividend will be treated first as reducing (but not below zero) the Non-U.S. Holder’s adjusted tax basis in its shares of Post-Closing Company Class A common stock and, to the extent such distribution exceeds the Non-U.S. Holder’s adjusted tax basis, as gain realized from the sale or other disposition of the Post-Closing Company Class A common stock, which will be treated as described below under the section entitled “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” If the Post-Closing Company determines that it is likely to be classified as a “United States real property holding corporation” (see the section entitled “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities” below), the applicable withholding agent may be required to withhold 15% of any distribution that exceeds the Post-Closing Company’s current and accumulated earnings and profits.The withholding tax generally does not apply to dividends paid to a Non-U.S. Holder who provides an IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S. Holder’s conduct of a trade or business within the United States. Instead, the effectively connected dividends will be subject to regular U.S. federal income tax as if the Non-U.S. Holder were a U.S. resident, subject to an applicable income tax treaty providing otherwise. A Non-U.S. Holder that is treated as a foreign corporation for U.S. federal income tax purposes receiving effectively connected dividends may also be subject to an additional “branch profits tax” imposed at a rate of 30% (or a lower rate provided in an applicable tax treaty).</div><div>Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company SecuritiesA Non-U.S. Holder generally will not be subject to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange or other taxable disposition of its Post-Closing Company Securities, including an expiration or redemption of the Post-Closing Company public warrants as described below under the section entitled “— Exercise, Lapse or Redemption of Post-Closing Company Public Warrants,” or a redemption of Post-Closing Company Class A common stock that is treated as a sale of shares as described above under the section entitled “— Tax Effects to Non-U.S. Holders of Exercising Redemption Rights,” unless: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the gain is effectively connected with the conduct by the Non-U.S. Holder of a trade or business within the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such Non-U.S. Holder maintains in the United States);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">such Non-U.S. Holder is an individual who was present in the United States for 183 days or more in the taxable year of such disposition (as such days are calculated pursuant to Section 7701(b)(3) of the Code) and certain other requirements are met; or</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the Post-Closing Company is or has been a “United States real property holding corporation” for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date of disposition or the Non-U.S. Holder’s holding period for the applicable Post-Closing Company Security being disposed of.</div></div>Unless an applicable treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal income tax rates as if the Non-U.S. Holder were a U.S. resident. Any gains described in the first bullet point above of a Non-U.S. Holder that is treated as a foreign corporation for U.S. federal income tax purposes may also be subject to an additional “branch profits tax” imposed at a 30% rate (or a lower applicable income tax treaty rate).If the second bullet point applies to a Non-U.S. Holder, such Non-U.S. Holder generally will be subject to U.S. tax on such Non-U.S. Holder’s net capital gain for such year (including any gain realized in connection with the redemption) at a tax rate of 30% (or a lower applicable tax treaty rate).If the third bullet point above applies to a Non-U.S. Holder, subject to certain exceptions in the case of interests that are regularly traded on an established market, gain recognized by such holder will be subject to tax at generally applicable U.S. federal income tax rates, and a buyer of such Post-Closing Company Security or the Post-Closing Company may be required to withhold U.S. federal income tax at a rate of 15% of the amount realized upon such disposition or redemption.Based on the nature of the business and activities of PlusAI, it generally is not expected that the Post-Closing Company would be a United States real property holding corporation after the Domestication or immediately after the business combination is completed. However, neither TVA III nor the Post-Closing Company has undertaken a formal analysis of the Post-Closing Company’s possible status as a United States real property holding corporation. Such determination is factual in nature and subject to change. Accordingly, no assurance can be provided as to whether the Post-Closing Company would be treated as a United States real property holding corporation in any taxable year.Non-U.S. Holders should consult their tax advisors regarding the U.S. federal income tax consequences to them in respect of any loss recognized on a sale, taxable exchange or other taxable disposition of its Post-Closing Company Securities.</div><div>Exercise, Lapse or Redemption of Post-Closing Company Public WarrantsA Non-U.S. Holder generally will not recognize taxable gain or loss on the acquisition of Post-Closing Company Class A common stock upon exercise of Post-Closing Company public warrants for cash. The Non-U.S. Holder’s tax basis in the share of Post-Closing Company Class A common stock received upon exercise of Post-Closing Company public warrants generally will be an amount equal to the sum of the Non-U.S. Holder’s tax basis in such Post-Closing Company public warrants and the exercise price. It is unclear whether the Non-U.S. Holder’s holding period for the Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants will begin on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period will not include the period during which the Non-U.S. Holder held the Post-Closing Company public warrants. If any Post-Closing Company public warrants are allowed to lapse unexercised, a Non-U.S. Holder generally will recognize a capital loss equal to such holder’s tax basis in such lapsed Post-Closing Company public warrants and generally will be taxed as described above under “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Consistent with the TVA III Warrants, the Post-Closing Company public warrants may be exercised on a cashless basis in certain circumstances. The U.S. federal income tax characterization of a cashless exercise of Post-Closing Company public warrants are not clear under current tax law. A cashless exercise may not be a taxable exchange, either because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. If the cashless exercise is not taxable, a Non-U.S. Holder’s tax basis in the Post-Closing Company Class A common stock received would equal the Non-U.S. Holder’s tax basis in the Post-Closing Company public warrants exercised therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a Non-U.S. Holder’s holding period in the Post-Closing Company Class A common stock would be treated as commencing on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the Non-U.S. Holder’s holding period for the Post-Closing Company public warrants exercised therefor.If the cashless exercise were treated as a recapitalization, the holding period of the Post-Closing Company Class A common stock would include the holding period of the Post-Closing Company public warrants exercised therefor.It is also possible that a cashless exercise could be treated in part as a taxable exchange in which gain or loss would be recognized. In such event, a Non-U.S. Holder could be deemed to have surrendered a number of Post-Closing Company public warrants equal to the number of shares of Post-Closing Company Class A common stock having a value equal to the exercise price for the total number of Post-Closing Company public warrants to be exercised. In such case, the Non-U.S. Holder would recognize capital gain or loss with respect to the Post-Closing Company public warrants deemed surrendered in an amount equal to the difference between the fair market value of the Post-Closing Company Class A common stock that would have been received in a regular exercise of the Post-Closing Company public warrants deemed surrendered and the Non-U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed surrendered. Any gain or loss recognized by a Non-U.S. Holder generally will be taxed as described above in “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” It is unclear whether a Non-U.S. Holder’s holding period for the Post-Closing Company Class A common stock would commence on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the Non-U.S. Holder’s holding period for the Post-Closing Company public warrants exercised therefor.Due to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, including when a Non-U.S. Holder’s holding period would commence with respect to the Post-Closing Company Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law. Accordingly, Non-U.S. Holders should consult their tax advisors regarding the tax consequences of a cashless exercise.If the Post-Closing Company redeems Post-Closing Company public warrants for cash or if Post-Closing Company purchases Post-Closing Company public warrants in an open market transaction, such redemption or purchase generally will be treated as a taxable disposition to the Non-U.S. Holder, taxed as described above under “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”</div><div style="font-size:10pt;font-family:Times New Roman;">Non-U.S. Holders should consult their tax advisors regarding the tax consequences of the exercise, lapse, or redemption of Post-Closing Company public warrants.Possible Constructive DistributionsSimilar with the TVA III Warrants, the terms of each Post-Closing Company public warrant will provide for an adjustment to the number of shares of Post-Closing Company Class A common stock for which the Post-Closing Company public warrant may be exercised or to the exercise price of the Post-Closing Company public warrant in certain events. An adjustment which has the effect of preventing dilution generally is not a taxable event. A Non-U.S. Holder of the Post-Closing Company public warrants would, however, be treated as receiving a constructive distribution from the Post-Closing Company if, for example, the adjustment increases the Non-U.S. Holder’s proportionate interest in the Post-Closing Company’s assets or earnings and profits (for example, through an increase in the number of shares of Post-Closing Company Class A common stock that would be obtained upon exercise or through a decrease in the exercise price of the Post-Closing Company public warrant), which adjustment may be made as a result of a distribution of cash or other property, such as other securities, to the holders of shares of Post-Closing Company stock, or as a result of the issuance of a stock dividend to holders of shares of Post-Closing Company stock, in each case, which is taxable to the holders of such stock as a distribution. Any constructive distribution treated as received by a Non-U.S. Holder generally would be subject to U.S. federal income tax (including any applicable withholding) in the same manner as if such Non-U.S. Holder received a corporate distribution from Post-Closing Company equal to the fair market value of such increased interest without any corresponding receipt of cash, the U.S. federal income tax consequences of which are described above under “— Taxation of Distributions.”Information Reporting and Backup WithholdingInformation returns will be filed with the IRS in connection with payments of distributions and the proceeds from a sale or other disposition of Post-Closing Company Securities. A Non-U.S. Holder may have to comply with certification procedures to establish that it is not a U.S. person in order to avoid information reporting and backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under a treaty generally will satisfy the certification requirements necessary to avoid the backup withholding as well.Backup withholding is not an additional tax. The amount of any backup withholding from a payment to a Non-U.S. Holder generally will be allowed as a credit against such Non-U.S. Holder’s U.S. federal income tax liability and may entitle such Non-U.S. Holder to a refund, provided that the required information is timely furnished to the IRS.</div> U.S. HoldersAs used in this proxy statement/prospectus, a “U.S. Holder” is a beneficial owner of a TVA III Security, TVA III Delaware Security or a Post-Closing Company Security, as applicable, that for U.S. federal income tax purposes is, or is treated as:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an individual who is a citizen or resident of the United States;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a corporation that is created or organized in or under the laws of the United States or any state in the United States or the District of Columbia;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate whose income is subject to U.S. federal income tax regardless of its source; or</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a trust if (1) a U.S. court can exercise primary supervision over the administration of such trust and one or more “United States persons” (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (2) the trust has a valid election in place to be treated as a United States person.</div></div>Tax Effects of the Domestication to U.S. HoldersGenerallyAssuming the Domestication qualifies as an F Reorganization, U.S. Holders of TVA III Securities generally should not recognize gain or loss for U.S. federal income tax purposes in connection with the Domestication, except as provided below under the sections entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares” and “— 5. PFIC Considerations.”Subject to the discussion below under the section entitled “— PFIC Considerations,” if the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code), a U.S. Holder of TVA III Securities generally would recognize gain or loss with respect to its TVA III Securities in an amount equal to the difference, if any, between the fair market value of the corresponding TVA III Delaware Securities received in the Domestication and the U.S. Holder’s adjusted tax basis in its TVA III Securities surrendered.U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication. All U.S. Holders considering exercising redemption rights with respect to TVA III public shares are urged to consult with their tax advisors with respect to the potential tax consequences to them of the Domestication and exercise of redemption rights.Basis and Holding Period ConsiderationsAssuming the Domestication qualifies as an F Reorganization, subject to the discussion below under the section entitled “—PFIC Considerations”: (1) the tax basis of a share of TVA III Class A Common Stock or TVA III Delaware Warrant received by a U.S. Holder in the Domestication will equal the U.S. Holder’s tax basis in the TVA III Class A Ordinary Share or TVA III Warrant surrendered in exchange therefor, increased by any amount included in the income of such U.S. Holder as a result of Section 367 of the Code (as discussed below) and (2) the holding period for a share of TVA III Class A Common Stock or TVA III Delaware Warrant received by a U.S. Holder will include such U.S. Holder’s holding period for the TVA III Class A Ordinary Share or TVA III Warrant surrendered in exchange therefor. If the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code), the U.S. Holder’s basis in the TVA III Class A Common Stock and TVA III Delaware Warrant would be equal to the sum of the fair market value of such TVA III Class A Common Stock and TVA III Delaware Warrant on the date of the Domestication, and such U.S. Holder’s holding period for such TVA III Class A Common Stock and TVA III Delaware Warrant would begin on the day following the date of the Domestication. Holders who hold different blocks of TVA III Securities (generally, TVA III Securities purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them, and the discussion above is general in nature and does not specifically address all of the consequences to U.S. Holders who hold different blocks of TVA III Securities.Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary SharesSection 367 of the Code applies to certain transactions involving foreign corporations, including a domestication of a foreign corporation in a transaction that qualifies as an F Reorganization. Subject to the discussion below under the section entitled “— PFIC Considerations,” Section 367(b) of the Code and the Treasury Regulations promulgated thereunder impose U.S. federal income tax on certain U.S. persons in connection with transactions that would otherwise be tax-deferred. Section 367(b) of the Code will generally apply to U.S. Holders on the date of the Domestication, including any such U.S. Holders exercising redemption rights.U.S. Holders Who Own Ten Percent or More (By Vote or Value) of TVA III Shares. Subject to the discussion below under the section entitled “— PFIC Considerations,” a 10% U.S. Shareholder on the date of the Domestication must include in income as a deemed dividend deemed paid by TVA III the “all earnings and profits amount” attributable to the TVA III Class A Ordinary Shares it directly owns within the meaning of Treasury Regulations under Section 367(b) of the Code. A U.S. Holder’s ownership of TVA III Warrants will be taken into account in determining whether such U.S. Holder is a 10% U.S. Shareholder. Complex attribution rules apply in determining whether a U.S. Holder is a 10% U.S. Shareholder and all U.S. Holders are urged to consult their tax advisors with respect to these attribution rules.A 10% U.S. Shareholder’s “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares is the net positive earnings and profits of TVA III attributable to such TVA III Class A Ordinary Shares (each as determined under Treasury Regulations under Section 367(b) of the Code) but without regard to any gain that would be realized on a sale or exchange of such TVA III Class A Ordinary Shares. Treasury Regulations under Section 367(b) of the Code provide that the “all earnings and profits amount” attributable to a shareholder’s stock is determined according to the principles of Section 1248 of the Code. In general, Section 1248 of the Code and the Treasury Regulations under the Code provide that the amount of earnings and profits attributable to a block of stock (as defined in Treasury Regulations under Section 1248 of the Code) in a foreign corporation is the ratably allocated portion of the foreign corporation’s earnings and profits generated during the period the shareholder held the block of stock.TVA III does not expect to have significant, if any, cumulative net earnings and profits on the date of the Domestication. If TVA III’s cumulative net earnings and profits through the date of the Domestication are less than or equal to zero, then a 10% U.S. Shareholder should not be required to include in gross income an “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares. However, the determination of earnings and profits is complex and may be impacted by numerous factors (including matters discussed in this proxy statement/prospectus). It is possible that the amount of TVA III’s cumulative net earnings and profits could be positive through the date of the Domestication, in which case a 10% U.S. Shareholder would be required to include its “all earnings and profits amount” in income as a deemed dividend deemed paid by TVA III under Treasury Regulations under Section 367(b) of the Code as a result of the Domestication. Any such deemed dividend is expected to be treated as foreign-source income for U.S. federal income tax purposes, and is not expected to be eligible for preferential tax rates because TVA III is expected to be treated as a PFIC.U.S. Holders Who Own Less Than 10% (By Vote or Value) of TVA III Shares. Subject to the discussion below under the section entitled “— PFIC Considerations,” a U.S. Holder who, on the date of the Domestication, is not a 10% U.S. Shareholder and whose TVA III Class A Common Stock has a fair market value of $50,000 or more on the date of the Domestication will recognize gain (but not loss) with respect to the TVA III Class A Common Stock received in the Domestication or, in the alternative, may elect to recognize the “all earnings and profits amount” attributable to such U.S. Holder’s TVA III Class A Ordinary Shares as described below.Subject to the discussion below under the section entitled “— PFIC Considerations,” unless a U.S. Holder makes the “all earnings and profits election” as described below, such U.S. Holder generally must recognize gain (but not loss) with respect to TVA III Class A Common Stock received in the Domestication in an amount equal to the excess of the fair market value of such TVA III Class A Common Stock over the U.S. Holder’s adjusted tax basis in the TVA III Class A Ordinary Shares deemed surrendered in exchange therefor. U.S. Holders who hold different blocks of TVA III Class A Ordinary Shares (generally, TVA III Class A Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them.In lieu of recognizing any gain as described in the preceding paragraph, a U.S. Holder may elect to include in income as a deemed dividend deemed paid by TVA III the “all earnings and profits amount” attributable to its TVA III Class A Ordinary Shares under Section 367(b) of the Code. There are, however, strict conditions for making this election. This election must comply with applicable Treasury Regulations and generally must include, among other things:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement that the Domestication is a Section 367(b) exchange (within the meaning of the applicable Treasury Regulations);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a complete description of the Domestication;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a description of any stock, securities or other consideration transferred or received in the Domestication;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement describing the amounts required to be taken into account for U.S. federal income tax purposes; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a statement that the U.S. Holder is making the election described in Treasury Regulations Section 1.367(b)-3(c)(3), which must include (1) a copy of the information that the U.S. Holder received from TVA III (or the Post-Closing Company) establishing and substantiating the U.S. Holder’s “all earnings and profits amount” with respect to the U.S. Holder’s TVA III Class A Ordinary Shares and (2) a representation that the U.S. Holder has notified TVA III (or TVA III Delaware or the Post-Closing Company) that the U.S. Holder is making the election described in Treasury Regulations Section 1.367(b)-3(c)(3); and </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">certain other information required to be furnished with the U.S. Holder’s tax return or otherwise furnished pursuant to the Code or the Treasury Regulations.</div></div>The election must be attached by an electing U.S. Holder to such U.S. Holder’s timely filed U.S. federal income tax return (including extensions, if any) for the taxable year in which the Domestication occurs, and the U.S. Holder must send notice of making the election to TVA III or TVA III Delaware no later than the date such tax return is filed. In connection with this election, TVA III Delaware will reasonably cooperate with U.S. Holders of TVA III Class A Ordinary Shares, upon written request, to make available to such requesting U.S. Holders information regarding TVA III’s earnings and profits.TVA III does not expect to have significant, if any, cumulative earnings and profits through the date of the Domestication and if that proves to be the case, U.S. Holders who make this election are not expected to have a significant income inclusion under Section 367(b) of the Code, provided that the U.S. Holder properly executes the election and complies with the applicable notice requirements. However, as noted above, if it were determined that TVA III had positive earnings and profits through the date of the Domestication, a U.S. Holder that makes the election described in this proxy statement/prospectus could have an “all earnings and profits amount” with respect to its TVA III Class A Ordinary Shares, and thus could be required to include that amount in income as a deemed dividend deemed paid by TVA III under applicable Treasury Regulations as a result of the Domestication. Any such deemed dividend is expected to be treated as foreign-source income for U.S. federal income tax purposes, and is not expected to be eligible for preferential tax rates because TVA III is expected to be treated as a PFIC.Each U.S. Holder is urged to consult its tax advisor regarding the consequences to it of making an election to include in income the “all earnings and profits amount” attributable to its TVA III Class A Ordinary Shares under Section 367(b) of the Code and the appropriate filing requirements with respect to such election. A U.S. Holder who, on the date of the Domestication, is not a 10% U.S. Shareholder and whose TVA III Class A Ordinary Shares have a fair market value of less than $50,000 on the date of the Domestication generally should not be required by Section 367(b) of the Code and the Treasury Regulations promulgated thereunder to recognize any gain or loss or include any part of the “all earnings and profits amount” in income in connection with the Domestication. However, such U.S. Holder may be subject to taxation under the PFIC rules as discussed below under the section entitled “— PFIC Considerations.”Tax Consequences for U.S. Holders of TVA III WarrantsAssuming the Domestication qualifies as an F Reorganization, subject to the considerations described above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares — U.S. Holders Who Own 10 Percent or More (By Vote or Value) of TVA III Shares” relating to a U.S. Holder’s ownership of TVA III Warrants being taken into account in determining whether such U.S. Holder is a 10% U.S. Shareholder for purposes of Section 367(b) of the Code and the considerations described below under the section entitled “— PFIC Considerations” relating to the PFIC rules, a U.S. Holder of TVA III Warrants should not be subject to U.S. federal income tax with respect to the exchange of TVA III Warrants for TVA III Delaware Warrants in the Domestication.All U.S. Holders are urged to consult their tax advisors with respect to the effect of Section 367 of the Code to their particular circumstances. PFIC ConsiderationsRegardless of whether the Domestication qualifies as an F Reorganization (and, if the Domestication qualifies as an F Reorganization, in addition to the discussion above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares”), the Domestication could be a taxable event to U.S. Holders under the PFIC provisions of the Code if TVA III is considered a PFIC.Definition of a PFIC. A foreign (i.e., non-United States) corporation will be classified as a PFIC for U.S. federal income tax purposes if either (1) at least 75% of its gross income in a taxable year, including its pro rata share of the gross income of any corporation in which it is considered to own at least 25% of the shares by value, is passive income or (2) at least 50% of its assets in a taxable year (generally determined based on fair market value and averaged quarterly over the year), including its pro rata share of the assets of any corporation in which it is considered to own at least 25% of the shares by value, are held for the production of, or produce, passive income. Passive income generally includes dividends, interest, rents and royalties (other than rents or royalties derived from the active conduct of a trade or business received from unrelated persons) and gains from the disposition of passive assets. The determination of whether a foreign corporation is a PFIC is made annually. Pursuant to a “startup exception,” a foreign corporation will not be a PFIC for the first taxable year the foreign corporation has gross income (the “startup year”) if (1) no predecessor of the foreign corporation was a PFIC; (2) the foreign corporation satisfies to the IRS that it will not be a PFIC for either of the first two taxable years following the startup year; and (3) the foreign corporation is not in fact a PFIC for either of those years.PFIC Status of TVA III. Based upon the composition of its income and assets, and upon a review of its financial statements, TVA III believes that it likely will not be eligible for the startup exception and therefore likely has been a PFIC since its first taxable year and will likely be considered a PFIC for each taxable year thereafter, including the taxable year which ends as a result of the Domestication.Effects of PFIC Rules on the Domestication. Even if the Domestication qualifies as an F Reorganization, Section 1291(f) of the Code requires that, to the extent provided in Treasury Regulations, a U.S. person who disposes of stock of a PFIC (including for this purpose, under a proposed Treasury Regulation that generally treats an “option” (which would generally include a TVA III Warrant) to acquire the stock of a PFIC as stock of the PFIC, exchanging warrants of a PFIC for newly issued warrants in connection with a domestication transaction) recognizes gain notwithstanding any other provision of the Code. No final Treasury Regulations are currently in effect under Section 1291(f) of the Code. However, proposed Treasury Regulations under Section 1291(f) of the Code have been promulgated with a retroactive proposed effective date. If finalized in their current form, those proposed Treasury Regulations would require gain recognition to U.S. Holders of TVA III Class A Ordinary Shares and TVA III Warrants as a result of the Domestication if:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">TVA III were classified as a PFIC at any time during such U.S. Holder’s holding period in such TVA III Class A Ordinary Shares or TVA III Warrants; and </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the U.S. Holder had not timely made (1) a QEF Election (as defined below) for the first taxable year in which the U.S. Holder owned such TVA III Class A Ordinary Shares or in which TVA III was a PFIC, whichever is later (or a QEF Election along with a purging election), or (2) an MTM Election (as defined </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.13195601466178%;visibility:hidden;word-break:keep-all;display:inline-flex;justify-content:flex-start;"><div style="display:inline;">below) with respect to such TVA III Class A Ordinary Shares. Under current law, neither a QEF Election nor an MTM Election can be made with respect to warrants (including TVA III Warrants).</div></div>The tax on any such recognized gain would be imposed based on a complex set of computational rules designed to offset the tax deferral with respect to the undistributed earnings of TVA III. Under these rules (the “excess distributions regime”):<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the U.S. Holder’s gain will be allocated ratably over the U.S. Holder’s holding period for such U.S. Holder’s TVA III Class A Ordinary Shares or TVA III Warrants;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the amount of gain allocated to the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain, or to the period in the U.S. Holder’s holding period before the first day of the first taxable year in which TVA III was a PFIC, will be taxed as ordinary income;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the amount of gain allocated to other taxable years (or portions of such taxable years) of the U.S. Holder and included in such U.S. Holder’s holding period would be taxed at the highest tax rate in effect for that year and applicable to the U.S. Holder; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an additional tax equal to the interest charge generally applicable to underpayments of tax will be imposed on the U.S. Holder in respect of the tax attributable to each such other taxable year (described in the third bullet above) of such U.S. Holder.</div></div>The proposed Treasury Regulations provide coordinating rules with Section 367(b) of the Code, whereby, if the gain recognition rule of the proposed Treasury Regulations applied to a disposition of PFIC stock that results from a transfer with respect to which Section 367(b) of the Code requires the U.S. Holder to recognize gain or include an amount in income as a deemed dividend deemed paid by TVA III, the gain realized on the transfer is taxable as an excess distribution under the excess distribution regime, and the excess, if any, of the amount to be included in income under Section 367(b) of the Code over the gain realized under the excess distribution regime is taxable as provided under Section 367(b) of the Code. See the discussion above under the section entitled “— Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares.”It is difficult to predict whether, in what form and with what effective date, final Treasury Regulations under Section 1291(f) of the Code may be adopted or how any such final Treasury Regulations would apply. Therefore, U.S. Holders of TVA III Class A Ordinary Shares that have not made a timely and effective QEF Election (or a QEF Election along with a purging election) or an MTM Election (each as defined below) may, pursuant to the proposed Treasury Regulations, be subject to taxation under the PFIC rules on the Domestication with respect to their TVA III Class A Ordinary Shares and TVA III Warrants under the excess distribution regime in the manner set forth above. A U.S. Holder that made a timely and effective QEF Election (or a QEF Election along with a purging election) or an MTM Election with respect to its TVA III Class A Ordinary Shares is referred to in this proxy statement/prospectus as an “Electing Shareholder” and a U.S. Holder that is not an Electing Shareholder is referred to in this proxy statement/prospectus as a “Non-Electing Shareholder.”As discussed above, proposed Treasury Regulations issued under the PFIC rules generally treat an “option” (which would include a TVA III Warrant) to acquire the stock of a PFIC as stock of the PFIC, while final Treasury Regulations issued under the PFIC rules provide that neither a QEF Election nor an MTM Election (as defined below) may be made with respect to options. Therefore, it is possible that the proposed Treasury Regulations, if finalized in their current form, would apply to cause gain recognition on the exchange of TVA III Warrants for TVA III Delaware Warrants pursuant to the Domestication.Any gain recognized by a Non-Electing Shareholder of TVA III Class A Ordinary Shares or a U.S. Holder of TVA III Warrants as a result of the Domestication pursuant to the PFIC rules would be taxable income to such U.S. Holder and taxed under the excess distribution regime in the manner set forth above, with no corresponding receipt of cash.As noted above, if TVA III is considered a PFIC, the Domestication could be a taxable event under the PFIC rules regardless of whether the Domestication qualifies as an F Reorganization, and, absent a QEF Election (or a QEF Election along with a purging election) or an MTM Election, a U.S. Holder would be taxed under the excess distribution regime in the manner set forth above.All U.S. Holders are urged to consult their tax advisors regarding the effects of the PFIC Rules on the Domestication, including the impact of any proposed or final Treasury Regulations. QEF Election and Mark-to-Market ElectionThe impact of the PFIC rules on a U.S. Holder of TVA III Class A Ordinary Shares will depend on whether the U.S. Holder has made a timely and effective election to treat TVA III as a “qualified electing fund” under Section 1295 of the Code for the taxable year that is the first year in the U.S. Holder’s holding period of TVA III Class A Ordinary Shares during which TVA III qualified as a PFIC (a “QEF Election”) or, if in a later taxable year, the U.S. Holder made a QEF Election along with a purging election. One type of purging election creates a deemed sale of the U.S. Holder’s TVA III Class A Ordinary Shares at their then fair market value and requires the U.S. Holder to recognize gain pursuant to such purging election subject to the excess distribution regime described above. As a result of any such purging election, the U.S. Holder would increase the adjusted tax basis in its TVA III Class A Ordinary Shares by the amount of the gain recognized and, solely for purposes of the PFIC rules, would have a new holding period in its TVA III Class A Ordinary Shares. U.S. Holders are urged to consult their tax advisors as to the application of the rules governing purging elections to their particular circumstances.A U.S. Holder’s ability to make a timely and effective QEF Election (or a QEF Election along with a purging election) with respect to its TVA III Class A Ordinary Shares is contingent upon, among other things, the provision by TVA III of a “PFIC Annual Information Statement” to such U.S. Holder.TVA III or the Post-Closing Company (as applicable) will endeavor to provide a requesting U.S. Holder such information the IRS may require, including a PFIC Annual Information Statement, for making or maintaining a QEF Election (or making a QEF Election along with a purging election) for TVA III’s taxable year that ends on the date of the Domestication (and prior taxable years), but there is no assurance that TVA III or the Post-Closing Company will timely provide such required information. As discussed above, a U.S. Holder is not able to make a QEF Election with respect to TVA III Warrants under current law. An Electing Shareholder generally would not be subject to the excess distribution regime discussed above with respect to their TVA III Class A Ordinary Shares. As a result, an Electing Shareholder generally should not recognize gain or loss as a result of the Domestication except to the extent described under “— 3. Effects of Section 367 to U.S. Holders of TVA III Class A Ordinary Shares,” and subject to the discussion above under “— Tax Effects of the Domestication to U.S. Holders,” but rather would include annually in gross income its pro rata share of the ordinary earnings and net capital gain of TVA III, whether or not such amounts are actually distributed.The impact of the PFIC rules on a U.S. Holder of TVA III Class A Ordinary Shares may also depend on whether the U.S. Holder has made a mark-to-market election under Section 1296 of the Code (an “MTM Election”). U.S. Holders who hold (actually or constructively) stock of a foreign corporation that is classified as a PFIC may elect to mark such stock to its market value each taxable year if such stock is “marketable stock,” generally, stock that is regularly traded on a stock exchange that is registered with the SEC, including the Nasdaq. No assurance can be given that TVA III Class A Ordinary Shares are considered to be marketable stock for purposes of the MTM Election for any taxable year or whether the other requirements of this election are satisfied. If such an election is available and has been made, such Electing Shareholder generally would not be subject to the excess distributions regime discussed above with respect to their TVA III Class A Ordinary Shares in connection with the Domestication. Instead, in general, such Electing Shareholder will include as ordinary income each year the excess, if any, of the fair market value of its TVA III Class A Ordinary Shares at the end of its taxable year over its adjusted tax basis in its TVA III Class A Ordinary Shares. The Electing Shareholder also will recognize an ordinary loss in respect of the excess, if any, of its adjusted tax basis in its TVA III Class A Ordinary Shares over the fair market value of its TVA III Class A Ordinary Shares at the end of its taxable year (but only to the extent of the net amount of previously included income as a result of the MTM Election). The Electing Shareholder’s tax basis in its TVA III Class A Ordinary Shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable disposition of its TVA III Class A Ordinary Shares will be treated as ordinary income (and any further loss recognized on such sale or disposition in excess of the net amount previously included in income as a result of the MTM Election would be capital loss). However, if the MTM Election is not made by a U.S. Holder with respect to the first taxable year of its holding period for the TVA III Class A Ordinary Shares in which TVA III is a PFIC, then the excess distribution regime discussed above will apply to certain dispositions of, distributions on and other amounts taxable with respect to, TVA III Class A Ordinary Shares, including in connection with the Domestication. Under current law, an MTM Election is not available with respect to warrants, including the TVA III Warrants.The rules dealing with PFICs are very complex and are impacted by various factors in addition to those described above, including the application of the rules addressing overlaps in the PFIC rules and the Section 367(b) rules and the rules relating to Controlled Foreign Corporations. All U.S. Holders of TVA III Securities are urged to consult their tax advisors regarding the consequences to them of the PFIC rules, including whether a QEF Election (or a QEF Election along with a purging election), an MTM election or any other election is available and whether and how any overlap rules apply, and the consequences to them of any such election or overlap rule and the impact of any proposed or final PFIC Treasury Regulations. Tax Effects to U.S. Holders of Exercising Redemption RightsGenerallyThe U.S. federal income tax consequences to a U.S. Holder of TVA III public shares that exercises its redemption rights with respect to its TVA III public shares will depend on whether the redemption qualifies as a sale of under Section 302 of the Code. If the redemption qualifies as a sale of shares by a U.S. Holder, the tax consequences to such U.S. Holder are as described below under the section entitled “— Taxation of Redemption Treated as a Sale.” If the redemption does not qualify as a sale of shares, a U.S. Holder will be treated as receiving a corporate distribution with the tax consequences to such U.S. Holder as described below under the section entitled “— Taxation of Redemption Treated as a Distribution.”Whether a redemption of shares qualifies for sale treatment will depend largely on the total number of shares of the Post-Closing Company Class A common stock treated as held by the redeemed U.S. Holder before and after the redemption (including any shares treated as constructively owned by the U.S. Holder as a result of owning TVA III Warrants and any shares that a U.S. Holder would directly or indirectly acquire pursuant to the business combination) relative to all of the stock of the Post-Closing Company outstanding both before and after the redemption. The redemption generally will be treated as a sale of shares (rather than as a corporate distribution) if the redemption (1) is “substantially disproportionate” with respect to the U.S. Holder, (2) results in a “complete termination” of the U.S. Holder’s interest in the Post-Closing Company or (3) is “not essentially equivalent to a dividend” with respect to the U.S. Holder. These tests are explained more fully below.In determining whether any of the foregoing tests result in a redemption qualifying for sale treatment, a U.S. Holder takes into account not only shares actually owned by the U.S. Holder, but also shares that are constructively owned by it under certain attribution rules set forth in the Code. A U.S. Holder may constructively own, in addition to shares owned directly, shares owned by certain related individuals and entities in which the U.S. Holder has an interest or that have an interest in such U.S. Holder, as well as any shares that the holder has a right to acquire by exercise of an option, which would generally include shares which could be acquired pursuant to the exercise of Post-Closing Company public warrants. Moreover, any shares that a U.S. Holder directly or constructively acquires pursuant to the business combination generally should be included in determining the U.S. federal income tax treatment of the redemption.In order to meet the substantially disproportionate test, the percentage of the Post-Closing Company’s outstanding voting stock actually and constructively owned by the U.S. Holder immediately following the redemption of shares must, among other requirements, be less than 80% of the percentage of TVA III’s outstanding voting stock actually and constructively owned by the U.S. Holder immediately before the redemption (determined based on reduction in voting power, and taking into account redemptions by other holders and possibly the Post-Closing Company stock to be issued pursuant to the business combination). There will be a complete termination of a U.S. Holder’s interest in the Post-Closing Company if either (1) all of the shares actually and constructively owned by the U.S. Holder are redeemed or (2) all of the shares actually owned by the U.S. Holder are redeemed and the U.S. Holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and the U.S. Holder does not constructively own any other shares (including any stock constructively owned by the U.S. Holder as a result of owning TVA III Warrants). The redemption will not be essentially equivalent to a dividend if the redemption results in a “meaningful reduction” of the U.S. Holder’s proportionate interest in the Post-Closing Company. Whether the redemption will result in a meaningful reduction in a U.S. Holder’s proportionate interest in the Post-Closing Company will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority stockholder in a publicly held corporation where such stockholder exercises no control over corporate affairs may constitute such a “meaningful reduction.”If none of the foregoing tests is satisfied, then the redemption of shares generally will be treated as a corporate distribution to the redeemed U.S. Holder and the tax effects to such a U.S. Holder will be as described below under the section entitled “—Taxation of Redemption Treated as a Distribution.” After the application of those rules, any remaining tax basis of the U.S. Holder in the redeemed shares will be added to the U.S. Holder’s adjusted tax basis in its remaining Post-Closing Company Class A common stock or, if it has none, to the U.S. Holder’s adjusted tax basis in its Post-Closing Company public warrants or possibly in other Post-Closing Company Class A common stock constructively owned by it.U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication (discussed further above).U.S. Holders who actually or constructively own at least five percent by vote or value (or, if Post-Closing Company Class A common stock is not then publicly traded, at least one percent by vote or value) or more of the total outstanding Post-Closing Company Class A common stock may be subject to special reporting requirements with respect to a redemption of shares, and such holders should consult with their tax advisors with respect to their reporting requirements.Taxation of Redemption Treated as a DistributionIf the redemption of a U.S. Holder’s shares is treated as a corporate distribution, as discussed above under the section entitled “— Generally,” the amount of cash received in the redemption generally will constitute a dividend for U.S. federal income tax purposes to the extent paid from the Post-Closing Company’s current or accumulated earnings and profits, as determined under U.S. federal income tax principles.Distributions in excess of the Post-Closing Company’s current and accumulated earnings and profits will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. Holder’s adjusted tax basis in its shares. Any remaining excess will be treated as gain realized on the sale of shares and will be treated as described below under the section entitled “— Taxation of Redemption Treated as a Sale.”Taxation of Redemption Treated as a SaleIf the redemption of a U.S. Holder’s shares is treated as a sale, as discussed above under the section entitled “— Generally,” a U.S. Holder generally will recognize capital gain or loss in an amount equal to the difference between the amount of cash received in the redemption and the U.S. Holder’s adjusted tax basis in the shares redeemed. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder’s holding period for the shares so disposed of exceeds one year. Long-term capital gains recognized by non-corporate U.S. Holders generally will be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations.U.S. Holders who hold different blocks of shares (including as a result of holding different blocks of TVA III Class A Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them.ALL U.S. HOLDERS ARE URGED TO CONSULT THEIR TAX ADVISORS AS TO THE TAX CONSEQUENCES TO THEM OF AN EXERCISE OF REDEMPTION RIGHTS.Tax Consequences of Ownership and Disposition of Post-Closing Company SecuritiesTaxation of DistributionsIn general, distributions of cash or other property to U.S. Holders of Post-Closing Company Class A common stock (other than certain distributions of the Post-Closing Company Class A common stock or rights to acquire the Post-Closing Company Class A common stock) generally will constitute dividends for U.S. federal income tax purposes to the extent paid from the Post-Closing Company’s current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Distributions in excess of current and accumulated earnings and profits generally will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. Holder’s adjusted tax basis in its Post-Closing Company Class A common stock. Any remaining excess generally will be treated as gain realized on the sale or other disposition of the Post-Closing Company Class A common stock, as described below under the section entitled “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Dividends paid to a U.S. Holder that is treated as a taxable corporation for U.S. federal income tax purposes generally will qualify for the dividends received deduction if the requisite holding period is satisfied. With certain exceptions (including dividends treated as investment income for purposes of investment interest deduction limitations), and provided certain holding period requirements are met, dividends paid to a non-corporate U.S. Holder generally will constitute “qualified dividend income” subject to tax at reduced rates applicable to long-term capital gains.Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company SecuritiesUpon a sale or other taxable disposition of Post-Closing Company Securities (which, in general, would include a redemption of Post-Closing Company public warrants that is treated as a sale of such warrants as described below), a U.S. Holder generally will recognize capital gain or loss in an amount equal to the difference between the amount realized and the U.S. Holder’s adjusted tax basis in the Post-Closing Company Securities. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder’s holding period for the Post-Closing Company Securities so disposed of exceeds one year. Long-term capital gains recognized by non-corporate U.S. Holders may be eligible to be taxed at reduced rates. The deductibility of capital losses is subject to limitations. Generally, the amount of gain or loss recognized by a U.S. Holder is an amount equal to the difference between (1) the sum of the amount of cash and the fair market value of any property received in such disposition and (2) the U.S. Holder’s adjusted tax basis in its Post-Closing Company Securities so disposed of. See the section entitled “— Tax Effects of the Domestication to U.S. Holders” above for a discussion of a U.S. Holder’s adjusted tax basis in its securities following the Domestication. See the section entitled “— Exercise, Lapse or Redemption of Post-Closing Company Public Warrants” below for a discussion regarding a U.S. Holder’s tax basis in Post-Closing Company Class A common stock acquired pursuant to the exercise of a Post-Closing Company public warrant.Exercise, Lapse or Redemption of Post-Closing Company Public WarrantsA U.S. Holder generally will not recognize taxable gain or loss on the acquisition of Post-Closing Company Class A common stock upon exercise of Post-Closing Company public warrants for cash. The U.S. Holder’s tax basis in the shares of Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants generally will be an amount equal to the sum of the U.S. Holder’s tax basis in the Post-Closing Company public warrants and the exercise price. It is unclear whether the U.S. Holder’s holding period for the Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants will begin on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period will not include the period during which the U.S. Holder held the Post-Closing Company public warrants. If any Post-Closing Company public warrants are allowed to lapse unexercised, a U.S. Holder generally will recognize a capital loss equal to such holder’s tax basis in the lapsed Post-Closing Company public warrants.The tax consequences of a cashless exercise of Post-Closing Company public warrants are not clear under current tax law. A cashless exercise may not be taxable, either because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. If the cashless exercise is not taxable, a U.S. Holder’s basis in the Post-Closing Company Class A common stock received would equal the U.S. Holder’s basis in the Post-Closing Company public warrants exercised therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a U.S. Holder’s holding period in the Post-Closing Company Class A common stock would be treated as commencing on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the period during which the U.S. Holder held the Post-Closing Company public warrants. If the cashless exercise were treated as a recapitalization, the holding period of the Post-Closing Company Class A common stock would include the holding period of the Post-Closing Company public warrants exercised therefor.It is also possible that a cashless exercise could be treated in part as a taxable exchange in which gain or loss would be recognized. In such event, a U.S. Holder could be deemed to have surrendered a number of Post-Closing Company public warrants equal to the number of shares of Post-Closing Company Class A common stock having a value equal to the exercise price for the total number of Post-Closing Company public warrants to be exercised. In such case, the U.S. Holder would recognize capital gain or loss with respect to the Post-Closing Company public warrants deemed surrendered in an amount equal to the difference between the fair market value of the Post-Closing Company Class A common stock that would have been received in a regular exercise of the Post-Closing Company public warrants deemed surrendered and the U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed surrendered. In this case, a U.S. Holder’s aggregate tax basis in the Post-Closing Company Class A common stock received would equal the sum of the U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed exercised and the aggregate exercise price of such Post-Closing Company public warrants. It is unclear whether a U.S. Holder’s holding period for the Post-Closing Company Class A common stock would commence on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the period during which the U.S. Holder held the Post-Closing Company public warrants.Due to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, including when a U.S. Holder’s holding period would commence with respect to the Post-Closing Company Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law. Accordingly, U.S. Holders should consult their tax advisors regarding the tax consequences of a cashless exercise.If the Post-Closing Company redeems Post-Closing Company public warrants for cash or if it purchases Post-Closing Company public warrants in an open market transaction, such redemption or purchase generally will be treated as a taxable disposition to the U.S. Holder, taxed as described above under the section entitled “— Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Possible Constructive DistributionsConsistent with the TVA III Warrants, the terms of each Post-Closing Company public warrant will provide for an adjustment to the number of shares of Post-Closing Company Class A common stock for which the Post-Closing Company public warrant may be exercised or to the exercise price of the Post-Closing Company public warrant in certain events. An adjustment which has the effect of preventing dilution generally is not taxable. A U.S. Holder of the Post-Closing Company public warrants would, however, be treated as receiving a constructive distribution from the Post-Closing Company if, for example, the adjustment increases the U.S. Holder’s proportionate interest in the Post-Closing Company’s assets or earnings and profits (for example, through an increase in the number of shares of Post-Closing Company Class A common stock that would be obtained upon exercise or through a decrease in the exercise price of the Post-Closing Company public warrant), which adjustment may be made as a result of a distribution of cash or other property, such as other securities, to the holders of shares of the Post-Closing Company stock, or as a result of the issuance of a stock dividend to holders of shares of the Post-Closing Company stock, in each case, which is taxable to the holders of such shares as a distribution. Such constructive distribution generally would be subject to tax as described above under the section entitled “— Taxation of Distributions” in the same manner as if the U.S. Holders of the Post-Closing Company public warrants received a cash distribution from the Post-Closing Company equal to the fair market value of such increased interest.Information Reporting and Backup WithholdingPayments of dividends on and the proceeds from a sale or other disposition of Post-Closing Company Securities will be subject to information reporting to the IRS and U.S. backup withholding on such payments may be possible. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number and makes other required certifications, or who is otherwise exempt from backup withholding and establishes such exempt status.Backup withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a U.S. Holder’s U.S. federal income tax liability, and the U.S. Holder generally may obtain a refund of any excess amounts withheld under the backup withholding rules by timely filing the appropriate claim for refund with the IRS and furnishing any required information.Non-U.S. HoldersAs used in this proxy statement/prospectus, a “Non-U.S. Holder” is a beneficial owner of a TVA III Security or Post-Closing Company Security, as applicable, who or that for U.S. federal income tax purposes is, or is treated as:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a non-resident alien individual, other than certain former citizens and residents of the United States subject to U.S. tax as expatriates;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a foreign corporation; or</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate or trust that is not a U.S. Holder.</div></div>Tax Effects of the Domestication to Non-U.S. HoldersThe Domestication is not expected to result in any U.S. federal income tax consequences to a Non-U.S. Holder of TVA III Securities unless the Domestication fails to qualify as an F Reorganization (and does not otherwise qualify as a “reorganization” within the meaning of Section 368(a) of the Code) and such Non-U.S. Holder holds its TVA III Securities in connection with a conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such Non-U.S. Holder maintains in the United States) or is a nonresident alien individual who is physically present in the United States for at least 183 days during that individual’s taxable year in which the Domestication occurs and meets certain other requirements. Non-U.S. Holders will own stock and warrants of a U.S. corporation, i.e., the Post-Closing Company, rather than a non-U.S. corporation, i.e., TVA III, after the Domestication.Non-U.S. Holders exercising redemption rights will be subject to the potential tax consequences of the Domestication. All Non-U.S. Holders considering exercising redemption rights with respect to TVA III Class A Ordinary Shares are urged to consult with their tax advisors with respect to the potential tax consequences to them of the Domestication and exercise of redemption rights.Tax Effects to Non-U.S. Holders of Exercising Redemption RightsThe U.S. federal income tax consequences to a Non-U.S. Holder of TVA III Class A Ordinary Shares that exercises its redemption rights will depend on whether the redemption qualifies as a sale of shares redeemed, as described above under “U.S. Holders — Tax Effects to U.S. Holders of Exercising Redemption Rights — Generally.” The U.S. federal income tax consequences to the Non-U.S. Holder will be as described below under “— Tax Consequences of Ownership and Disposition of Post-Closing Company Securities — Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” If the redemption does not qualify as a sale of Post-Closing Company Class A common stock, the Non-U.S. Holder will be treated as receiving a corporate distribution, the U.S. federal income tax consequences of which are described below under “— Tax Consequences of Ownership and Disposition of Post-Closing Company Securities — Taxation of Distributions.”Because it may not be certain at the time a Non-U.S. Holder is redeemed whether such Non-U.S. Holder’s redemption will be treated as a sale of shares or a corporate distribution, and because such determination will depend in part on a Non-U.S. Holder’s particular circumstances, the applicable withholding agent may not be able to determine whether (or to what extent) a Non-U.S. Holder is treated as receiving a dividend for U.S. federal income tax purposes. Therefore, the applicable withholding agent may withhold tax at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on the gross amount of any consideration paid to a Non-U.S. Holder in redemption of such Non-U.S. Holder’s Post-Closing Company Class A common stock, unless (1) the applicable withholding agent has established special procedures allowing Non-U.S. Holders to certify that they are exempt from such withholding tax and (2) such Non-U.S. Holders are able to certify that they meet the requirements of such exemption (e.g., because such Non-U.S. Holders are not treated as receiving a dividend under the Section 302 tests described above under the section entitled “U.S. Holders — Tax Effects to U.S. Holders of Exercising Redemption Rights — Generally”). However, there can be no assurance that any applicable withholding agent will establish such special certification procedures. If an applicable withholding agent withholds excess amounts from the amount payable to a Non-U.S. Holder, such Non-U.S. Holder generally may obtain a refund of any such excess amounts by timely filing an appropriate claim for refund with the IRS. Non-U.S. Holders should consult their own tax advisors regarding the application of the foregoing rules in light of their particular facts and circumstances and any applicable procedures or certification requirements.Tax Consequences of Ownership and Disposition of Post-Closing Company SecuritiesTaxation of DistributionsIn general, any distributions (including constructive distributions, but not including certain distributions of the Post-Closing Company stock or rights to acquire the Post-Closing Company stock) made to a Non-U.S. Holder of shares of Post-Closing Company Class A common stock, to the extent paid out of the Post-Closing Company’s current or accumulated earnings and profits (as determined under U.S. federal income tax principles), will constitute dividends for U.S. federal income tax purposes and, provided such dividends are not effectively connected with the Non-U.S. Holder’s conduct of a trade or business within the United States, the Post-Closing Company (or another applicable withholding agent) will be required to withhold tax from the gross amount of the dividend at a rate of 30%, unless such Non-U.S. Holder is eligible for a reduced rate of withholding tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced rate (usually on an IRS Form W-8BEN or W-8BEN-E). In the case of any constructive dividend, it is possible that this tax would be withheld from any amount owed to a Non-U.S. Holder by the applicable withholding agent, including cash distributions on other property or sale proceeds from warrants or other property subsequently paid or credited to such Non-U.S. Holder. Any distribution not constituting a dividend will be treated first as reducing (but not below zero) the Non-U.S. Holder’s adjusted tax basis in its shares of Post-Closing Company Class A common stock and, to the extent such distribution exceeds the Non-U.S. Holder’s adjusted tax basis, as gain realized from the sale or other disposition of the Post-Closing Company Class A common stock, which will be treated as described below under the section entitled “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” If the Post-Closing Company determines that it is likely to be classified as a “United States real property holding corporation” (see the section entitled “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities” below), the applicable withholding agent may be required to withhold 15% of any distribution that exceeds the Post-Closing Company’s current and accumulated earnings and profits.The withholding tax generally does not apply to dividends paid to a Non-U.S. Holder who provides an IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S. Holder’s conduct of a trade or business within the United States. Instead, the effectively connected dividends will be subject to regular U.S. federal income tax as if the Non-U.S. Holder were a U.S. resident, subject to an applicable income tax treaty providing otherwise. A Non-U.S. Holder that is treated as a foreign corporation for U.S. federal income tax purposes receiving effectively connected dividends may also be subject to an additional “branch profits tax” imposed at a rate of 30% (or a lower rate provided in an applicable tax treaty).Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company SecuritiesA Non-U.S. Holder generally will not be subject to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange or other taxable disposition of its Post-Closing Company Securities, including an expiration or redemption of the Post-Closing Company public warrants as described below under the section entitled “— Exercise, Lapse or Redemption of Post-Closing Company Public Warrants,” or a redemption of Post-Closing Company Class A common stock that is treated as a sale of shares as described above under the section entitled “— Tax Effects to Non-U.S. Holders of Exercising Redemption Rights,” unless: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the gain is effectively connected with the conduct by the Non-U.S. Holder of a trade or business within the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such Non-U.S. Holder maintains in the United States);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">such Non-U.S. Holder is an individual who was present in the United States for 183 days or more in the taxable year of such disposition (as such days are calculated pursuant to Section 7701(b)(3) of the Code) and certain other requirements are met; or</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">the Post-Closing Company is or has been a “United States real property holding corporation” for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date of disposition or the Non-U.S. Holder’s holding period for the applicable Post-Closing Company Security being disposed of.</div></div>Unless an applicable treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal income tax rates as if the Non-U.S. Holder were a U.S. resident. Any gains described in the first bullet point above of a Non-U.S. Holder that is treated as a foreign corporation for U.S. federal income tax purposes may also be subject to an additional “branch profits tax” imposed at a 30% rate (or a lower applicable income tax treaty rate).If the second bullet point applies to a Non-U.S. Holder, such Non-U.S. Holder generally will be subject to U.S. tax on such Non-U.S. Holder’s net capital gain for such year (including any gain realized in connection with the redemption) at a tax rate of 30% (or a lower applicable tax treaty rate).If the third bullet point above applies to a Non-U.S. Holder, subject to certain exceptions in the case of interests that are regularly traded on an established market, gain recognized by such holder will be subject to tax at generally applicable U.S. federal income tax rates, and a buyer of such Post-Closing Company Security or the Post-Closing Company may be required to withhold U.S. federal income tax at a rate of 15% of the amount realized upon such disposition or redemption.Based on the nature of the business and activities of PlusAI, it generally is not expected that the Post-Closing Company would be a United States real property holding corporation after the Domestication or immediately after the business combination is completed. However, neither TVA III nor the Post-Closing Company has undertaken a formal analysis of the Post-Closing Company’s possible status as a United States real property holding corporation. Such determination is factual in nature and subject to change. Accordingly, no assurance can be provided as to whether the Post-Closing Company would be treated as a United States real property holding corporation in any taxable year.Non-U.S. Holders should consult their tax advisors regarding the U.S. federal income tax consequences to them in respect of any loss recognized on a sale, taxable exchange or other taxable disposition of its Post-Closing Company Securities.Exercise, Lapse or Redemption of Post-Closing Company Public WarrantsA Non-U.S. Holder generally will not recognize taxable gain or loss on the acquisition of Post-Closing Company Class A common stock upon exercise of Post-Closing Company public warrants for cash. The Non-U.S. Holder’s tax basis in the share of Post-Closing Company Class A common stock received upon exercise of Post-Closing Company public warrants generally will be an amount equal to the sum of the Non-U.S. Holder’s tax basis in such Post-Closing Company public warrants and the exercise price. It is unclear whether the Non-U.S. Holder’s holding period for the Post-Closing Company Class A common stock received upon exercise of the Post-Closing Company public warrants will begin on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period will not include the period during which the Non-U.S. Holder held the Post-Closing Company public warrants. If any Post-Closing Company public warrants are allowed to lapse unexercised, a Non-U.S. Holder generally will recognize a capital loss equal to such holder’s tax basis in such lapsed Post-Closing Company public warrants and generally will be taxed as described above under “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Consistent with the TVA III Warrants, the Post-Closing Company public warrants may be exercised on a cashless basis in certain circumstances. The U.S. federal income tax characterization of a cashless exercise of Post-Closing Company public warrants are not clear under current tax law. A cashless exercise may not be a taxable exchange, either because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. If the cashless exercise is not taxable, a Non-U.S. Holder’s tax basis in the Post-Closing Company Class A common stock received would equal the Non-U.S. Holder’s tax basis in the Post-Closing Company public warrants exercised therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a Non-U.S. Holder’s holding period in the Post-Closing Company Class A common stock would be treated as commencing on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the Non-U.S. Holder’s holding period for the Post-Closing Company public warrants exercised therefor.If the cashless exercise were treated as a recapitalization, the holding period of the Post-Closing Company Class A common stock would include the holding period of the Post-Closing Company public warrants exercised therefor.It is also possible that a cashless exercise could be treated in part as a taxable exchange in which gain or loss would be recognized. In such event, a Non-U.S. Holder could be deemed to have surrendered a number of Post-Closing Company public warrants equal to the number of shares of Post-Closing Company Class A common stock having a value equal to the exercise price for the total number of Post-Closing Company public warrants to be exercised. In such case, the Non-U.S. Holder would recognize capital gain or loss with respect to the Post-Closing Company public warrants deemed surrendered in an amount equal to the difference between the fair market value of the Post-Closing Company Class A common stock that would have been received in a regular exercise of the Post-Closing Company public warrants deemed surrendered and the Non-U.S. Holder’s tax basis in the Post-Closing Company public warrants deemed surrendered. Any gain or loss recognized by a Non-U.S. Holder generally will be taxed as described above in “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.” It is unclear whether a Non-U.S. Holder’s holding period for the Post-Closing Company Class A common stock would commence on the date following the date of exercise or on the date of exercise of the Post-Closing Company public warrants; in either case, the holding period would not include the Non-U.S. Holder’s holding period for the Post-Closing Company public warrants exercised therefor.Due to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, including when a Non-U.S. Holder’s holding period would commence with respect to the Post-Closing Company Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law. Accordingly, Non-U.S. Holders should consult their tax advisors regarding the tax consequences of a cashless exercise.If the Post-Closing Company redeems Post-Closing Company public warrants for cash or if Post-Closing Company purchases Post-Closing Company public warrants in an open market transaction, such redemption or purchase generally will be treated as a taxable disposition to the Non-U.S. Holder, taxed as described above under “— Sale, Taxable Exchange or Other Taxable Disposition of Post-Closing Company Securities.”Non-U.S. Holders should consult their tax advisors regarding the tax consequences of the exercise, lapse, or redemption of Post-Closing Company public warrants.Possible Constructive DistributionsSimilar with the TVA III Warrants, the terms of each Post-Closing Company public warrant will provide for an adjustment to the number of shares of Post-Closing Company Class A common stock for which the Post-Closing Company public warrant may be exercised or to the exercise price of the Post-Closing Company public warrant in certain events. An adjustment which has the effect of preventing dilution generally is not a taxable event. A Non-U.S. Holder of the Post-Closing Company public warrants would, however, be treated as receiving a constructive distribution from the Post-Closing Company if, for example, the adjustment increases the Non-U.S. Holder’s proportionate interest in the Post-Closing Company’s assets or earnings and profits (for example, through an increase in the number of shares of Post-Closing Company Class A common stock that would be obtained upon exercise or through a decrease in the exercise price of the Post-Closing Company public warrant), which adjustment may be made as a result of a distribution of cash or other property, such as other securities, to the holders of shares of Post-Closing Company stock, or as a result of the issuance of a stock dividend to holders of shares of Post-Closing Company stock, in each case, which is taxable to the holders of such stock as a distribution. Any constructive distribution treated as received by a Non-U.S. Holder generally would be subject to U.S. federal income tax (including any applicable withholding) in the same manner as if such Non-U.S. Holder received a corporate distribution from Post-Closing Company equal to the fair market value of such increased interest without any corresponding receipt of cash, the U.S. federal income tax consequences of which are described above under “— Taxation of Distributions.”Information Reporting and Backup WithholdingInformation returns will be filed with the IRS in connection with payments of distributions and the proceeds from a sale or other disposition of Post-Closing Company Securities. A Non-U.S. Holder may have to comply with certification procedures to establish that it is not a U.S. person in order to avoid information reporting and backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under a treaty generally will satisfy the certification requirements necessary to avoid the backup withholding as well.Backup withholding is not an additional tax. The amount of any backup withholding from a payment to a Non-U.S. Holder generally will be allowed as a credit against such Non-U.S. Holder’s U.S. federal income tax liability and may entitle such Non-U.S. Holder to a refund, provided that the required information is timely furnished to the IRS. MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS OF THE MERGERThe following is a discussion of the material U.S. federal income tax consequences of the Merger to U.S. and Non-U.S. Holders (each as defined below, and together, “Holders”) of PlusAI Class A common stock who exchange in the Merger such shares of PlusAI Class A common stock for (1) Post-Closing Company Class A common stock in the Merger and (2) a contingent right to receive Earnout Shares that are shares of Post-Closing Company Class A common stock (an “Earnout Right”). This summary is based upon current provisions of the Code, existing Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the IRS, all in effect as of the date hereof and all of which are subject to differing interpretations or change. Any such change or differing interpretation, which may be retroactive, could alter the tax consequences to PlusAI stockholders from the following summary. This discussion assumes that the Merger will be consummated in accordance with the Merger Agreement and as described in this proxy statement/prospectus. This discussion applies only to stockholders who hold their PlusAI Class A common stock as a “capital asset” within the meaning of Section 1221 of the Code (generally, property held for investment) and does not purport to address all U.S. federal income tax consequences relevant to Holders of PlusAI Class A common stock. In addition, it does not address consequences relevant to PlusAI stockholders that are subject to particular U.S. or non-U.S. tax rules, including, without limitation, to PlusAI stockholders that are: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">brokers, dealers or traders in securities; banks; insurance companies; other financial institutions; mutual funds;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">real estate investment trusts; regulated investment companies;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">tax-exempt organizations or governmental organizations;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">pass-through entities such as partnerships, S corporations, disregarded entities for U.S. federal income tax purposes (and investors therein);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who are subject to the alternative minimum tax provisions of the Code;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who hold or sell their PlusAI Class A common stock as part of a hedge, wash sale, constructive sale, synthetic security, conversion transaction, or other integrated transaction or risk reduction strategy;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">PlusAI U.S. Holders (as defined below) that have a functional currency other than the U.S. dollar;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">traders in securities who elect to apply a mark-to-market method of accounting; </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who elect to apply the provisions of Section 1400Z-2 of the Code to any gains realized in the Merger;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who directly or constructively own five percent or more of PlusAI Class A common stock (except as described below);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">controlled foreign corporations, passive foreign investment companies (and investors therein);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons holding PlusAI Class A common stock in connection with a trade or business conducted outside the U.S.; </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons subject to special tax accounting rules as a result of any item of gross income with respect to PlusAI Class A common stock being taken into account in an “applicable financial statement” (as defined in the Code);</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who acquired their shares of PlusAI Class A common stock pursuant to the exercise of options or otherwise as compensation or through a tax-qualified retirement plan or through the exercise of a warrant or conversion rights under convertible instruments;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">persons who acquired their shares of PlusAI Class A common stock upon conversion of SAFEs, indebtedness or warrants; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">certain expatriates or former citizens or long-term residents of the United States.</div></div>PlusAI stockholders, including in particular those subject to special U.S. or non-U.S. tax rules that are described in the list above, are urged to consult their own tax advisors regarding the consequences to them of the Merger. If a partnership or other pass-through entity (or any entity or arrangement treated as a partnership or other pass-through entity for U.S. federal income tax purposes) holds PlusAI Class A common stock, the tax treatment of such partnership or other pass-through entity and a person treated as a partner of such partnership or owner of such other pass-through entity will generally depend on the status of the partner or owner, the activities of the partnership or other pass-through entity and certain determinations made at the partner or owner level. Partnerships and other pass-through entities holding any PlusAI Class A common stock and persons that are treated as partners of such partnerships or owners of such other pass-through entities should consult their tax advisors as to the particular U.S. federal income tax consequences to them of the Merger. In addition, the following discussion does not address: (1) the tax consequences of transactions effectuated before, after or at the same time as the Merger, whether or not they are in connection with the Merger, including, without limitation, any transactions in which shares of Post-Closing Company Class A common stock are acquired or disposed of other than in exchange for shares of PlusAI Class A common stock in the Merger; (2) the tax consequences to Holders of PlusAI Class B common stock, PlusAI SAFEs, convertible debt issued by PlusAI, PlusAI RSUs, PlusAI options or PlusAI warrants; (3) the tax consequences of the ownership of shares of Post-Closing Company Class A common stock following the Merger; (4) any U.S. federal non-income tax consequences of the Merger, including estate or gift tax consequences; (5) any state, local, non-U.S. or other tax consequences of the Merger; (6) the Medicare contribution tax on net investment income; or (7) any payment to any holders of Dissenting Shares. <div>Definitions of “PlusAI U.S. Holder” and “PlusAI Non-U.S. Holder” For purposes of this discussion, a “PlusAI U.S. Holder” is a beneficial owner of PlusAI Class A common stock that for U.S. federal income tax purposes is, or is treated as: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an individual who is a citizen or resident of the United States;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a corporation or any other entity taxable as a corporation created or organized in or under the laws of the United States, any state thereof, or the District of Columbia;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a trust if (1) a U.S. court can exercise primary supervision over the administration of such trust and one or more “United States persons” (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (2) it has a valid election in place to be treated as a United States person; or </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate, the income of which is subject to U.S. federal income tax regardless of its source.</div></div>For purposes of this discussion, a “PlusAI Non-U.S. Holder” is a beneficial owner (not including a partnership) of PlusAI Class A common stock that for U.S. federal income tax purposes is, or is treated as: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a non-resident alien individual, other than certain former citizens and residents of the U.S. subject to U.S. tax as expatriates; </div></div></div><div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a foreign corporation; or </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate or trust that is not a U.S. Holder.</div></div>but does not include an individual who is present in the U.S. for 183 days or more in the taxable year of disposition. If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of a Merger and whether you are treated as a resident for U.S. federal income tax purposes. ALL HOLDERS SHOULD CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE MERGER ARISING UNDER THE U.S. FEDERAL ESTATE OR GIFT TAX LAWS OR UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY. General Each of PlusAI and TVA III intends for the Merger, taken together as an integrated transaction, to qualify as a single “reorganization” pursuant to Section 368(a) of the Code. PlusAI and TVA III cannot guarantee that the IRS will not challenge the intended tax treatment of the Merger, and that such a challenge will not be successful. None of PlusAI, TVA III, Merger Sub I, or Merger Sub II intend to obtain a ruling from the IRS with respect to the tax consequences of the Merger. Further, the closing of the Merger is not conditioned upon obtaining an opinion from counsel that the Merger will qualify as a reorganization. Accordingly, no assurance can be given that the IRS will not challenge the Merger’s qualification as a “reorganization” within the meaning of Section 368(a) of the Code or that a court would not sustain such a challenge. The following discussion assumes that the Earnout Right will be treated as consideration that can be received on a tax-deferred basis under the reorganization provisions of the Code, as opposed to taxable “boot.” If the Earnout Right is treated as taxable “boot,” the tax consequences described below could be materially different, including that both PlusAI U.S. Holders and PlusAI Non-U.S. Holders would be required to recognize gain or loss with respect to the Earnout Right, and PlusAI Non-U.S. Holders would be subject to withholding. Holders of PlusAI Class A common stock should consult their own tax advisors as to the consequences of the possible receipt of any Earnout Right, including the application of the installment sale rules. Consequences to Holders of PlusAI Class A Common Stock if the Merger Qualifies as a Reorganization Assuming the Merger qualifies as a “reorganization” under Section 368(a) of the Code, the U.S. federal income tax consequences of the Merger to Holders of PlusAI Class A common stock are as follows: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">other than as described below relating to imputed interest, Holders of PlusAI Class A common stock will not recognize gain or loss upon the exchange of their PlusAI Class A common stock for Post-Closing Company Class A common stock and the Earnout Right in the Merger. Holders of PlusAI Class A common stock will obtain a basis in the Post-Closing Company Class A common stock they receive in the Merger (other than Earnout Shares that are treated as imputed interest, as described below) equal to their basis in the PlusAI common stock exchanged therefor. For this purpose, IRS guidance indicates that at the time of the Merger, the Holders of PlusAI Class A common stock should be treated as receiving the maximum number of Earnout Shares they could receive under the terms of the Merger Agreement, and that adjustments to each Holder’s tax basis in shares of Post-Closing Company Class A common stock actually received should be made if the maximum number of Earnout Shares ultimately is not issued. Except to the extent of Earnout Shares treated as imputed interest (as described below), the holding period of the shares of Post-Closing Company Class A common stock received by a Holder of PlusAI Class A common stock in the Merger will include the holding period of the shares of PlusAI Class A common stock surrendered in exchange therefor;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">if a Holder of PlusAI Class A common stock acquired different blocks of shares of PlusAI Class A common stock at different times or at different prices, such Holder should consult its own tax advisor regarding the manner in which its basis and holding period should be allocated among its Post-Closing Company Class A common stock in light of its specific circumstances; and</div></div></div><div style="font-size:10pt;font-family:Times New Roman;"><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a portion of the Earnout Shares (if any) actually received by a Holder of PlusAI Class A common stock six months or more after the Closing should be characterized as ordinary interest income for U.S. federal income tax purposes, even though there will not be any corresponding receipt of cash. A Holder’s tax basis in that portion of the Earnout Shares should be equal to the fair market value thereof on the date of receipt, and the Holder’s holding period for those Earnout Shares (or portions thereof) should begin on the day following receipt.</div></div>Consequences to PlusAI U.S. Holders if the Merger Does Not Qualify as a Reorganization If the Merger does not qualify as a reorganization within the meaning of Section 368(a) of the Code, then each PlusAI U.S. Holder will be treated as exchanging his, her or its PlusAI Class A common stock in a fully taxable transaction in exchange for Post-Closing Company Class A common stock and the Earnout Right. PlusAI U.S. Holders generally will recognize capital gain or loss in such exchange equal to the difference between (1) the fair market value of the Post-Closing Company Class A common stock and Earnout Right received in the Merger (subject to the potential application of the “installment method” to the Earnout Right) and (2) such U.S. Holder’s tax basis in the PlusAI Class A common stock surrendered in the Merger. Gain or loss must be calculated separately for shares of PlusAI Class A common stock acquired by PlusAI U.S. Holders at different times for different prices and exchanged by such PlusAI U.S. Holder in connection with the Merger. Any gain or loss recognized generally would be long-term capital gain or loss if the PlusAI U.S. Holder’s holding period in a particular block of PlusAI Class A common stock exceeds one year at the time of the Merger. Long-term capital gain of non-corporate PlusAI U.S. Holders (including individuals) generally is taxed at reduced U.S. federal income tax rates. The deductibility of capital losses is subject to limitations. The aggregate tax basis of a PlusAI U.S. Holder in the Post-Closing Company Class A common stock and Earnout Right received in the Merger will equal its fair market value at the Effective Time, and the holding period of Post-Closing Company Class A common stock received in the Merger will begin on the day after the consummation of the Merger. Consequences to PlusAI Non-U.S. Holders if the Merger Does Not Qualify as a Reorganization If the Merger does not qualify as a reorganization under Section 368(a) of the Code, PlusAI Non-U.S. Holders will generally not be subject to U.S. federal income tax in connection with the Merger, except to the extent described below. If gain recognized upon the exchange of the PlusAI Non-U.S. Holder’s shares of PlusAI Class A common stock for shares of Post-Closing Company Class A common stock is effectively connected with the PlusAI Non-U.S. Holder’s conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the PlusAI Non-U.S. Holder maintains a permanent establishment in the United States to which such gain is attributable), such gain will be subject to U.S. federal income tax on a net income basis at the regular graduated rates applicable to U.S. Holders. A PlusAI Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected gain, as adjusted for certain items. In addition, if PlusAI is or has been a “United States real property holding corporation” for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date of the Merger or the period that the PlusAI Non-U.S. Holder held PlusAI Class A common stock, any gain recognized by such Non-U.S. Holder with respect to such Non-U.S. Holder’s PlusAI Class A common stock as a result of the Merger would generally be subject to tax at applicable U.S. federal income tax rates and a U.S. federal withholding tax could apply. However, PlusAI believes that it is not, and has not been at any time since its formation, a United States real property holding corporation and neither PlusAI nor the Post-Closing Company expects to be a United States real property holding corporation immediately after the business combination is completed.Notwithstanding the foregoing, a PlusAI Non-U.S. Holder may be subject to U.S. federal income tax (and withholding with respect thereto) for any Earnout Shares treated as imputed interest. Information Reporting for PlusAI U.S. Holders Each PlusAI U.S. Holder who receives shares of Post-Closing Company Class A common stock in the Merger is required to retain permanent records pertaining to the Merger, and make such records available to any authorized IRS officers and employees. Such records should specifically include information regarding the amount, basis, </div>and fair market value of all shares of PlusAI Class A common stock that are exchanged in the Merger, and relevant facts regarding any liabilities assumed or extinguished as part of such reorganization. PlusAI U.S. Holders who owned immediately before the Merger at least one percent (by vote or value) of the total outstanding stock of PlusAI or securities of PlusAI with a basis of $1.0 million or more, are required to attach a statement to their tax returns for the year in which the Merger is consummated that contains the information listed in Treasury Regulations Section 1.368-3(b). Such statement must include the PlusAI U.S. Holder’s tax basis in such Holder’s PlusAI Class A common stock or securities surrendered in the Merger, the fair market value of such stock or securities, the date of the Merger and the name and employer identification number of each of PlusAI and the Post-Closing Company. PlusAI U.S. Holders are urged to consult with their own tax advisors to comply with these rules. Definitions of “PlusAI U.S. Holder” and “PlusAI Non-U.S. Holder” For purposes of this discussion, a “PlusAI U.S. Holder” is a beneficial owner of PlusAI Class A common stock that for U.S. federal income tax purposes is, or is treated as: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an individual who is a citizen or resident of the United States;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a corporation or any other entity taxable as a corporation created or organized in or under the laws of the United States, any state thereof, or the District of Columbia;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a trust if (1) a U.S. court can exercise primary supervision over the administration of such trust and one or more “United States persons” (within the meaning of Section 7701(a)(30) of the Code) have the authority to control all substantial decisions of the trust or (2) it has a valid election in place to be treated as a United States person; or </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate, the income of which is subject to U.S. federal income tax regardless of its source.</div></div>For purposes of this discussion, a “PlusAI Non-U.S. Holder” is a beneficial owner (not including a partnership) of PlusAI Class A common stock that for U.S. federal income tax purposes is, or is treated as: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a non-resident alien individual, other than certain former citizens and residents of the U.S. subject to U.S. tax as expatriates; </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a foreign corporation; or </div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">an estate or trust that is not a U.S. Holder.</div></div>but does not include an individual who is present in the U.S. for 183 days or more in the taxable year of disposition. If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of a Merger and whether you are treated as a resident for U.S. federal income tax purposes. ALL HOLDERS SHOULD CONSULT THEIR OWN TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE MERGER ARISING UNDER THE U.S. FEDERAL ESTATE OR GIFT TAX LAWS OR UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY. General Each of PlusAI and TVA III intends for the Merger, taken together as an integrated transaction, to qualify as a single “reorganization” pursuant to Section 368(a) of the Code. PlusAI and TVA III cannot guarantee that the IRS will not challenge the intended tax treatment of the Merger, and that such a challenge will not be successful. None of PlusAI, TVA III, Merger Sub I, or Merger Sub II intend to obtain a ruling from the IRS with respect to the tax consequences of the Merger. Further, the closing of the Merger is not conditioned upon obtaining an opinion from counsel that the Merger will qualify as a reorganization. Accordingly, no assurance can be given that the IRS will not challenge the Merger’s qualification as a “reorganization” within the meaning of Section 368(a) of the Code or that a court would not sustain such a challenge. The following discussion assumes that the Earnout Right will be treated as consideration that can be received on a tax-deferred basis under the reorganization provisions of the Code, as opposed to taxable “boot.” If the Earnout Right is treated as taxable “boot,” the tax consequences described below could be materially different, including that both PlusAI U.S. Holders and PlusAI Non-U.S. Holders would be required to recognize gain or loss with respect to the Earnout Right, and PlusAI Non-U.S. Holders would be subject to withholding. Holders of PlusAI Class A common stock should consult their own tax advisors as to the consequences of the possible receipt of any Earnout Right, including the application of the installment sale rules. Consequences to Holders of PlusAI Class A Common Stock if the Merger Qualifies as a Reorganization Assuming the Merger qualifies as a “reorganization” under Section 368(a) of the Code, the U.S. federal income tax consequences of the Merger to Holders of PlusAI Class A common stock are as follows: <div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">other than as described below relating to imputed interest, Holders of PlusAI Class A common stock will not recognize gain or loss upon the exchange of their PlusAI Class A common stock for Post-Closing Company Class A common stock and the Earnout Right in the Merger. Holders of PlusAI Class A common stock will obtain a basis in the Post-Closing Company Class A common stock they receive in the Merger (other than Earnout Shares that are treated as imputed interest, as described below) equal to their basis in the PlusAI common stock exchanged therefor. For this purpose, IRS guidance indicates that at the time of the Merger, the Holders of PlusAI Class A common stock should be treated as receiving the maximum number of Earnout Shares they could receive under the terms of the Merger Agreement, and that adjustments to each Holder’s tax basis in shares of Post-Closing Company Class A common stock actually received should be made if the maximum number of Earnout Shares ultimately is not issued. Except to the extent of Earnout Shares treated as imputed interest (as described below), the holding period of the shares of Post-Closing Company Class A common stock received by a Holder of PlusAI Class A common stock in the Merger will include the holding period of the shares of PlusAI Class A common stock surrendered in exchange therefor;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">if a Holder of PlusAI Class A common stock acquired different blocks of shares of PlusAI Class A common stock at different times or at different prices, such Holder should consult its own tax advisor regarding the manner in which its basis and holding period should be allocated among its Post-Closing Company Class A common stock in light of its specific circumstances; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">a portion of the Earnout Shares (if any) actually received by a Holder of PlusAI Class A common stock six months or more after the Closing should be characterized as ordinary interest income for U.S. federal income tax purposes, even though there will not be any corresponding receipt of cash. A Holder’s tax basis in that portion of the Earnout Shares should be equal to the fair market value thereof on the date of receipt, and the Holder’s holding period for those Earnout Shares (or portions thereof) should begin on the day following receipt.</div></div>Consequences to PlusAI U.S. Holders if the Merger Does Not Qualify as a Reorganization If the Merger does not qualify as a reorganization within the meaning of Section 368(a) of the Code, then each PlusAI U.S. Holder will be treated as exchanging his, her or its PlusAI Class A common stock in a fully taxable transaction in exchange for Post-Closing Company Class A common stock and the Earnout Right. PlusAI U.S. Holders generally will recognize capital gain or loss in such exchange equal to the difference between (1) the fair market value of the Post-Closing Company Class A common stock and Earnout Right received in the Merger (subject to the potential application of the “installment method” to the Earnout Right) and (2) such U.S. Holder’s tax basis in the PlusAI Class A common stock surrendered in the Merger. Gain or loss must be calculated separately for shares of PlusAI Class A common stock acquired by PlusAI U.S. Holders at different times for different prices and exchanged by such PlusAI U.S. Holder in connection with the Merger. Any gain or loss recognized generally would be long-term capital gain or loss if the PlusAI U.S. Holder’s holding period in a particular block of PlusAI Class A common stock exceeds one year at the time of the Merger. Long-term capital gain of non-corporate PlusAI U.S. Holders (including individuals) generally is taxed at reduced U.S. federal income tax rates. The deductibility of capital losses is subject to limitations. The aggregate tax basis of a PlusAI U.S. Holder in the Post-Closing Company Class A common stock and Earnout Right received in the Merger will equal its fair market value at the Effective Time, and the holding period of Post-Closing Company Class A common stock received in the Merger will begin on the day after the consummation of the Merger. Consequences to PlusAI Non-U.S. Holders if the Merger Does Not Qualify as a Reorganization If the Merger does not qualify as a reorganization under Section 368(a) of the Code, PlusAI Non-U.S. Holders will generally not be subject to U.S. federal income tax in connection with the Merger, except to the extent described below. If gain recognized upon the exchange of the PlusAI Non-U.S. Holder’s shares of PlusAI Class A common stock for shares of Post-Closing Company Class A common stock is effectively connected with the PlusAI Non-U.S. Holder’s conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the PlusAI Non-U.S. Holder maintains a permanent establishment in the United States to which such gain is attributable), such gain will be subject to U.S. federal income tax on a net income basis at the regular graduated rates applicable to U.S. Holders. A PlusAI Non-U.S. Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected gain, as adjusted for certain items. In addition, if PlusAI is or has been a “United States real property holding corporation” for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date of the Merger or the period that the PlusAI Non-U.S. Holder held PlusAI Class A common stock, any gain recognized by such Non-U.S. Holder with respect to such Non-U.S. Holder’s PlusAI Class A common stock as a result of the Merger would generally be subject to tax at applicable U.S. federal income tax rates and a U.S. federal withholding tax could apply. However, PlusAI believes that it is not, and has not been at any time since its formation, a United States real property holding corporation and neither PlusAI nor the Post-Closing Company expects to be a United States real property holding corporation immediately after the business combination is completed.Notwithstanding the foregoing, a PlusAI Non-U.S. Holder may be subject to U.S. federal income tax (and withholding with respect thereto) for any Earnout Shares treated as imputed interest. Information Reporting for PlusAI U.S. Holders Each PlusAI U.S. Holder who receives shares of Post-Closing Company Class A common stock in the Merger is required to retain permanent records pertaining to the Merger, and make such records available to any authorized IRS officers and employees. Such records should specifically include information regarding the amount, basis, and fair market value of all shares of PlusAI Class A common stock that are exchanged in the Merger, and relevant facts regarding any liabilities assumed or extinguished as part of such reorganization. PlusAI U.S. Holders who owned immediately before the Merger at least one percent (by vote or value) of the total outstanding stock of PlusAI or securities of PlusAI with a basis of $1.0 million or more, are required to attach a statement to their tax returns for the year in which the Merger is consummated that contains the information listed in Treasury Regulations Section 1.368-3(b). Such statement must include the PlusAI U.S. Holder’s tax basis in such Holder’s PlusAI Class A common stock or securities surrendered in the Merger, the fair market value of such stock or securities, the date of the Merger and the name and employer identification number of each of PlusAI and the Post-Closing Company. PlusAI U.S. Holders are urged to consult with their own tax advisors to comply with these rules. Expected Accounting Treatment for the Business CombinationIn May 2025, the FASB issued Accounting Standards Update No. 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity (“ASU 2025-03”). ASU 2025-03 changes how companies determine the accounting acquirer in certain business combinations involving variable interest entities. The new guidance requires considering the factors used for other acquisition transactions to assess which party is the accounting acquirer. TVA III has elected to early adopt ASU 2025-03 as of July 1, 2026. PlusAI has early adopted ASU 2025-03 during the period ended December 31, 2025. For purposes of these pro forma financial statements, management has assessed the business combination as if ASU 2025-03 had already been adopted as the closing of the business combination will occur after the adoption date. The adoption of ASU 2025-03 will not have any retrospective impact to TVA III’s or PlusAI’s historical financial statements.As of the anticipated Closing Date, PlusAI is determined to be a business, and TVA III is not a business. The business combination will be affected by the exchange of equity interests. Subsequent to the adoption of ASU 2025-03, the business combination is assessed by utilizing factors in ASC 805, Business Combinations (“ASC 805”), to identify the accounting acquirer under each redemption scenario. These factors apply regardless of whether the Post-Closing Company is viewed as a variable interest entity. Based on the assessment of ASC 805 factors further discussed below, the business combination is expected to be accounted for as a reverse recapitalization in accordance with GAAP, as PlusAI has been determined to be the accounting acquirer under all redemption scenarios presented. Under this method of accounting, TVA III, the legal acquirer, will be treated as the accounting acquiree for financial reporting purposes. PlusAI, the legal acquiree, will be treated as the accounting acquirer. Accordingly, the consolidated assets, liabilities, and results of operations of PlusAI will become the historical financial statements of the Post-Closing Company, and TVA III’s assets, liabilities, and results of operations will be consolidated by the Post-Closing Company starting from the Closing Date. For accounting purposes, the financial statements of the Post-Closing Company will represent a continuation of the financial statements of PlusAI, with the business combination being treated as the equivalent of PlusAI issuing stock for the net assets of TVA III, accompanied by a recapitalization. The net assets of TVA III will be stated at historical carrying values, and no goodwill or other intangible assets will be recorded as of the Closing Date. The number of shares and per share amounts in the financial statements of the Post-Closing Company will be adjusted to reflect the Exchange Ratio as if the Closing took place at the beginning of the earliest period presented. The statement of operations prior to the business combination will include only operations of PlusAI.PlusAI was determined to be the accounting acquirer under all of the redemption scenarios presented based on the evaluation of the following facts and circumstances:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI is the larger entity based on the presence of substantive operations and employee base and will assume the ongoing operations of the Post-Closing Company;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI’s existing stockholders will have the greatest majority voting interest that ranges from 91.9% to 97.6% in the Post-Closing Company under various redemption scenarios;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI’s existing shareholders will have the greatest ability to influence decisions regarding the election and removal of the Post-Closing Company’s board of directors;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI will hold three of the eight seats of the Post-Closing Company’s board of directors with two designated by the Sponsor and three are independent directors designated by mutual agreement between TVA III and PlusAI;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI’s senior management will comprise the senior management of the Post-Closing Company;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">the Post-Closing Company will assume the name that resembles the current legal name of PlusAI;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">PlusAI’s headquarters will become the Post-Closing Company headquarters; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">TVA III does not meet the definition of a business.</div></div>The final allocation of consideration payable to PlusAI equity holders will be determined upon the completion of the business combination and Transactions and could differ materially from the four scenarios presented.Additional Accounting ConsiderationsPlusAI is assessing the accounting related to the business combination and the treatment related to the following matters:Earnout Shares: Management has preliminarily concluded the Earnout Shares are equity-classified instruments as the only variability are inputs that are indexed to the Company’s own equity or are otherwise permissible and does not preclude the Earnout Shares from being considered indexed to the Post-Closing Company common stock. Management has determined the fair value of the Earnout Shares to be approximately $529.9 million as of June 30, 2026 for all of the redemption scenarios. The Earnout Shares fair value is determined based on a valuation using a Monte Carlo simulation with key inputs and assumptions such as stock price, term, dividend yield, risk-free rate, and volatility. The unaudited pro forma condensed combined financial statements do not reflect pro forma adjustments related to the recognition of the Earnout Shares because there is no net impact on stockholders’ deficit on a pro forma combined basis as the amount is recorded as a debit and credit of $529.9 million to additional paid-in-capital.TVA III Public Warrants and TVA III Private Placement Warrants: These warrants were accounted for as equity instruments in the historical financial statements of TVA III. Management has preliminarily concluded that equity classification for the TVA III Public Warrants and TVA III Private Placement Warrants continues to be appropriate.Convertible Notes: Management has preliminarily concluded to elect the fair value option to account for the convertible notes, with changes in the estimated fair value presented separately under the corresponding caption in the Post-Closing Company statement of operations. The Company has made this election as the fair value option better reflects the underlying economics within the convertible notes. Within the unaudited pro forma condensed combined financial statements, a loss on the issuance of the Convertible Notes has been recognized as the estimated fair value of all instruments issued is greater than the proceeds received. The Convertible Notes will be subsequently remeasured to fair value at each reporting date, with changes to fair value recognized in the condensed consolidated statements of operations.PIPE Warrants: Management has preliminarily concluded that the PIPE Warrants are liability-classified as the freestanding instruments do not meet equity classification requirements based on their settlement mechanism upon a change of control and similar transactions. Within the unaudited pro forma condensed combined financial statements, a loss on the issuance of the PIPE Warrants has been recognized as the estimated fair value of all instruments issued is greater than the proceeds received. The PIPE Warrants will be subsequently remeasured to fair value at each reporting date, with changes in fair value recognized in the condensed consolidated statements of operations.Share Issuance Agreements: Management has preliminarily concluded that the Share Issuance Agreements are accounted for as an equity instrument as the share count is fixed with no redemption or repurchase obligation included in the agreement and the shares are consistent with ordinary common stock. Within the unaudited pro forma condensed combined financial statements, a loss on the issuance of the Share Issuance Agreements have been recognized as the estimated fair value of all instruments issued is greater than the proceeds received.Class A Common Stock (included as part of the PIPE Investment): Management has preliminarily concluded that the purchase of Class A common stock as part of the PIPE Investment will be accounted for as an equity instrument as the share count is fixed with no redemption or repurchase obligation included in the agreement and the Class A common shares are consistent with ordinary common stock. Within the unaudited pro forma condensed combined financial statements, a loss on the issuance of PIPE Investment has been recognized as the estimated fair value of all instruments issued is greater than the proceeds received. Forward Purchase Agreement: Management has preliminarily concluded that the Forward Purchase Agreement is considered an in-substance put option provided to the Sponsor Affiliate which meets the definition of a liability under ASC 480. Pursuant to the Forward Purchase Agreement, the Sponsor Affiliate may sell up to 1,050,000 FPA Shares to third parties at a price of at least $12.00 per share and pay TVA III an early termination obligation equal to the number of shares sold multiplied by the redemption price, reducing the number of FPA Shares to be returned to TVA III at maturity. No FPA Shares will be delivered to the Post-Closing Company prior to maturity. Upon maturity, in exchange for the return of any remaining FPA Shares, the Post-Closing Company will pay the Sponsor Affiliate a settlement amount equal to the number of remaining FPA Shares multiplied by the redemption price, which the amount will be fully offset by the Prepayment Amount (i.e., 1,050,000 FPA Shares multiplied by the applicable per-share redemption price), resulting in no additional cash payment to be paid by the Post-Closing Company at maturity. Within the unaudited pro forma condensed combined financial statements, a Forward Purchase Agreement liability has been recognized with a corresponding loss on issuance of the Forward Purchase Agreement. The Forward Purchase Agreement liability will be subsequently remeasured to fair value at each reporting date, with changes in fair value recognized in the condensed consolidated statements of operations. For purposes of the pro forma financial information, the estimated fair value of the Forward Purchase Agreement is $1.2 million using the Monte Carlo Simulation model. Additionally, the Prepayment Amount of $11.0 million has been recognized as a reduction of equity in the unaudited pro forma condensed combined financial statements. The final accounting treatment related to the business combination, including the Earnout Shares, TVA III Public Warrants, TVA III Private Placement Warrants, Convertible Notes, PIPE Warrant, Share Issuance Agreements, and the Forward Purchase Agreement will be finalized and reported in the first reporting period following the consummation of the business combination. TVA III is incorporated under the laws of the Cayman Islands and the rights of TVA III shareholders are governed by the laws of the Cayman Islands, including the Cayman Act and the TVA III MAA and TVA III Articles. As a result of the Transactions, TVA III’s current shareholders who will hold TVA III Class A Ordinary Shares and Plus’s shareholders who receive TVA III Class A Ordinary Shares in the business combination will each become stockholders in the Post-Closing Company. The Post-Closing Company will be incorporated under the laws of the State of Delaware and the rights of Post-Closing Company stockholders will be governed by the laws of the State of Delaware, including the DGCL, the Proposed Certificate of Incorporation and the Proposed Bylaws. Thus, following the business combination and the Domestication, the rights of stockholders of the Post-Closing Company will be governed by Delaware law, including the DGCL, rather than by the laws of the Cayman Islands. Certain differences exist between the DGCL and the Companies Act that will alter certain of the rights of shareholders of TVA III and affect the powers of the Post-Closing Company Board and management.This section describes the material differences between the rights of TVA III shareholders under the TVA III Articles and the proposed rights of the Post-Closing Company’s stockholders under the Proposed Certificate of Incorporation and the Proposed Bylaws, which are attached to this proxy statement/prospectus as Annex B and Annex C, respectively. The summary set forth below is not intended to be complete or to provide a comprehensive discussion of each company’s governing documents and is qualified in its entirety by reference to the full text of those documents, as well as the relevant provisions of the Companies Act and the DGCL. <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Authorized Capital</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The aggregate number of shares which TVA III has the authority to issue is: 500,000,000 TVA III Class A Ordinary Shares, par value $0.0001 per share, 50,000,000 TVA III Class B Ordinary Shares, par value $0.0001 per share, and 5,000,000 preference shares, par value $0.0001 per share. As of the date of this proxy statement/prospectus, no preference shares are outstanding.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The aggregate number of shares which the Post-Closing Company has the authority to issue is, each with a par value of $0.0001, (1) shares of Post-Closing Company common stock and (2) 100,000,000 shares of Post-Closing Company preferred stock. Of the shares of Post-Closing Company common stock, 1,000,000,000 will be designated as a series of common stock denominated as Class A common stock, will be denominated as a series of common stock denominated as Class B common stock, and will be denominated as a series of common stock denominated as Class B common stock.Upon the consummation of the business combination, we expect there will be approximately 78,431,905 shares of Post-Closing Company Class A common stock (assuming no redemptions by TVA III’s public shareholders) outstanding. Immediately following the consummation of the business </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">combination, the Post-Closing Company is not expected to have any preferred stock outstanding.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Voting Rights</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Only holders of TVA III Class B Ordinary Shares have the right to vote on the election and removal of directors prior to the initial business combination. Subject to certain exceptions, with respect to any other matter submitted to a vote of TVA III’s shareholders, including any vote in connection with the initial business combination, except as required by applicable law or stock exchange rule, holders of TVA III Class A Ordinary Shares and holders of TVA III Class B Ordinary Shares will vote together as a single class, with each share entitling the holder to one vote.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The holders of Post-Closing Company common stock will possess all voting power for the election of directors and all other matters requiring stockholder action. The holders of Post-Closing Company Class A common stock will be entitled to one vote per share on matters to be voted on by the post-combination stockholders, the holders of Post-Closing Company Class B common stock will be entitled to 20 votes per share on matters to be voted on by the post-combination stockholders, and the holders of Post-Closing Company Class C common stock will be entitled to one fourth of one vote per share on matters to be voted on by the post-combination stockholders. The holders of Post-Closing Company Class A common stock, Post-Closing Company Class B common stock and Post-Closing Company Class C common stock will at all times vote together as one class on all matters submitted to a vote of the common stock (except as may be required by our amended and restated certificate of incorporation or applicable law).</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Number of Directors</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide there shall be no less than one (1) director and the directors may from time to time fix the maximum and minimum number of directors to be appointed by resolution of the TVA III Board. For so long as the TVA III shares are traded on a designated stock exchange, the TVA III Board shall be divided into three classes, as nearly equal in number as possible and designated Class I, Class II and Class III. The TVA III Board is authorized to assign members of the board already in </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation provides that, subject to any rights of the holders of any series of Post-Closing Company preferred stock, the number of directors shall be one or more and shall be fixed only by a resolution of a majority of the total number of authorized directorships whether or not there exist any vacancies or other unfilled seats in previously authorized directorships of the Post-Closing Company Board (the “Post-Closing Company Whole Board”). Subject to the </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">office to Class I, Class II or Class III. At each succeeding annual meeting of the shareholders of TVA III, successors to the class of directors whose term expires at that annual meeting shall be elected for a three- year term or until the election and qualification of their respective successors in office, subject to their earlier death, resignation or removal.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">special rights of the holders of any series of Post-Closing Company preferred stock to elect directors, the Post-Closing Company Board shall initially consist of eight directors and be divided into three classes, as nearly equal in number as is practicable and designated Class I, Class II and Class III. Subject to a director’s earlier death, disqualification, resignation or removal, each (1) Class I director shall serve for a term ending on the first annual meeting held after the effectiveness of the Proposed Certificate of Incorporation, (2) Class II director shall serve for a term ending on the second annual meeting held after the effectiveness of the Proposed Certificate of Incorporation, and (3) Class III director shall serve for a term ending on the third annual meeting held after the effectiveness of the Proposed Certificate of Incorporation. At each election after the end of the applicable initial term, each Class I, Class II, and Class III director shall be elected for a full term of three years.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Election of Directors</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Prior to the closing of the initial business combination, the holders of TVA III Class B Ordinary Shares shall have the exclusive right to elect and remove any director, and the holders of TVA III Class A Ordinary Shares shall have no right to vote on the election or removal of any director (“TVA III Class B Appointment Right”).</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Bylaws require that directors be elected by a plurality of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote generally on the election of directors.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Quorum</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Board of Directors: The quorum necessary for the transaction of the business of the TVA III Board may be fixed by the directors, and unless so fixed, if there be two (2) or more directors the quorum shall be two (2), and if there be one director the quorum shall be one.Shareholders: A quorum consists of the holders present in </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Board of Directors: A majority of the Post-Closing Company Whole Board shall constitute a quorum.Stockholders: The holders of a majority of the voting power of the capital stock of the Post-Closing Company issued and outstanding and entitled to vote at the meeting, present in person or </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">person or by proxy of the outstanding shares of the company representing at least one-third (1/3) of the paid up voting share capital of TVA III present in person or by proxy and entitled to vote at the meeting.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">represented by proxy, shall constitute a quorum.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Manner of Acting by Board</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the TVA III Board, except as may be otherwise specifically provided by applicable law, the TVA III Articles. In case of an equality of votes the chairman shall have a second or casting vote.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Bylaws provide that the act of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Post-Closing Company Board, except as may be otherwise specifically provided by statute, the Proposed Certificate of Incorporation or the Proposed Bylaws. The Proposed Bylaws provide that a majority of the Post-Closing Company Whole Board shall constitute a quorum for the transaction of business. </td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Removal of Directors</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that prior to the closing of the initial business combination, the holders of TVA III Class B Ordinary Shares shall have the exclusive right to elect and remove any director (“TVA III Class B Removal Right”), and the holders of TVA III Class A Ordinary Shares shall have no right to vote on the election or removal of any director.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation provides that, subject to the special rights of holders of any outstanding series of Post-Closing Company preferred stock, any director or the entire Post-Closing Company Board may be removed from office at any time, but only for cause and only by the affirmative vote of the holders of at least a majority of the voting power of the issued and outstanding capital stock of the Post-Closing Company entitled to vote in the election of directors, voting together as a single class.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Nomination of Director Candidates</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that prior to the closing of the initial business combination, the holders of TVA III Class B Ordinary Shares shall have the exclusive right to elect and remove any director (“TVA III Class B Removal Right”), and the holders of TVA III Class A Ordinary Shares shall have no right to vote on the election or removal of any director.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Bylaws provide that nomination for election to the Post-Closing Company Board at a meeting of stockholders may be made (1) pursuant to the Post-Closing Company’s notice of meeting (or any supplement thereto); (2) by or at the direction of the Post-Closing Company Board (or any committee thereof); (3) in the certificate of designations for any class or series of Post-Closing Company </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">preferred stock; or (4) by any stockholder of the Post-Closing Company who (a) is a stockholder of record at the time of giving such notice; (b) is as stockholder of record on the record date for the determination of stockholders entitled to notice of the annual meeting; (c) is a stockholder of record on the record date for the determination of stockholders entitled to vote at the annual meeting; (d) is a stockholder of record at the time of the annual meeting; and (e) timely complies with the notice procedures set forth therein.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Meetings of the Board </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">A director may, and a secretary or assistant secretary on the requisition of a director shall, at any time summon a meeting of the directors.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Bylaws provide that special meetings of the Post-Closing Company Board may be called by the chairperson of the Post-Closing Company Board, the chief executive officer, the president, or the secretary or by a majority of the Post-Closing Company Whole Board.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Meetings of Stockholders</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that general meetings may be called only by a majority vote of the TVA III Board, by TVA III’s chief executive officer or by TVA III’s chairman (unless there are no directors of the TVA III Board in office, in which case two Members may convene a generalMeeting).</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation provides that special meetings of stockholders may be called at any time by a resolution adopted by the majority of the Post-Closing Company Whole Board, the chairperson of the Post-Closing Company Board, the chief executive officer, or the president, and may not be called by any other person or persons. The Post-Closing Company Board acting pursuant to a resolution adopted by the majority of the Post-Closing Company Whole Board may cancel, postpone, or reschedule any previously scheduled special meeting of stockholders at any time, before or after the notice for such meeting has been sent to the stockholders.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Manner of Acting by Stockholders</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Except as stated in the TVA III Articles, as prescribed by the </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Bylaws provide that, when a quorum is present at </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">Companies Act or by applicable stock exchange rules, matters presented to the shareholders at a meeting at which a quorum is present shall be determined by ordinary resolution, which requires the approval of a simple majority of the votes cast by the shareholders present in person or represented by proxy at the meeting and entitled to vote thereon, unless the matter is one upon which, by applicable law (including the Companies Act), the TVA III Articles, or applicable stock exchange rules, a different vote is required, in which case such provision shall govern and control the decision of such matter.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">any meeting, in all matters other than the election of directors, the affirmative vote of the a majority of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter shall be the act of the stockholders (or if there are two or more classes or series of capital stock entitled to vote as separate classes or series, then in the case of each such class or series, the holders of a majority of the voting power of the shares of capital stock of the class, classes or series present in person or represented at the meeting and entitled to vote on the subject matter), except when a different vote is required by applicable law, the Proposed Certificate of Incorporation, the Proposed Bylaws, or the rules of any stock exchange applicable to the Post-Closing Company. The Proposed Certificate of Incorporation does not provide any stockholders with the ability to act pursuant to written consent.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Stockholder Action Without Meeting</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Subject to limited exceptions, the TVA III Articles provide that actions required or permitted to be taken by its shareholders may be effected by a duly called annual general meeting or extraordinary general meeting or by a unanimous written resolution of all the TVA III shareholders who are entitled to vote on such matter.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation does not provide any stockholders with the ability to act pursuant to written consent.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Anti-Takeover Provisions</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide for a classified board. In addition, prior to the closing of TVA III’s initial business combination, only holders of TVA III Class B Ordinary Shares have the right to appoint and remove directors. TVA III’s authorized but unissued ordinary shares and preference shares are available for future issuances generally </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation also provides for a classified board.The Post-Closing Company is subject to Section 203 of the DGCL.The Proposed Certificate of Incorporation authorizes the Post-Closing Company Board to </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">without shareholder approval and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved ordinary shares and preference shares could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">issue, without action by stockholders, up to 100,000,000 shares of Post-Closing Company preferred stock.The Proposed Certificate of Incorporation and the Proposed Bylaws will authorize the Post-Closing Company Board to fill vacancies on the board and newly-created directorships resulting from an increase in the authorized number of directors. In addition, the number of directors constituting the Post-Closing Company Board will be set only by resolution adopted by a majority vote of the Post-Closing Company Whole Board.For more information about the anti- takeover provisions in the Post-Closing Company’s governing documents, please see the section entitled, “Description of Securities — Anti takeover effects of Delaware law and the Post-Closing Company’s Certificate of Incorporation and Post-Closing Company’s Bylaws”</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Amendment of Certificate of Incorporation</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III may at any time and from time to time by special resolution alter or amend the TVA III MAA and TVA III Articles in whole or in part. Special resolutions require (a) that such resolution be passed by a majority of not less than two-thirds of votes cast at a general meeting, other than with respect to amending the TVA III Class B Appointment Right or TVA III Class B Removal Right (except where such amendment is proposed in respect of the consummation of the initial business combination) where such majority shall be at least 90% of such shareholders entitled to vote or (b) approval in writing as described above in “Stockholder Action Without Meeting.”</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation requires the approval by the affirmative vote of holders of at least 66 2⁄3% of the voting power of the outstanding shares of the capital stock of the Post-Closing Company entitled to vote thereon for certain provisions of the Proposed Certificate of Incorporation, which generally relate to:<div class="item-list-element-wrapper" style="tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Amendments that effect the voting rights of the Post-Closing Company common stock; </div></div><div class="item-list-element-wrapper" style="tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Amendments that effect the classification of the Post-Closing Company Board;</div></div><div class="item-list-element-wrapper" style="tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Amendments that effect the provisions for removal of </div></div></td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;text-indent:18pt;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;"><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><div style="display:inline;">directors and appointment of directors to vacancies; </div></div><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Amendments that effect the cumulation of votes;</div></div><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:left;">•<div style="display:inline;">Amendments that would permit stockholder action by written consent;</div></div><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:left;">•<div style="display:inline;">Amendments that alter which parties may call a special meeting of the Post-Closing Company’s stockholders;</div></div><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:left;">•<div style="display:inline;">Amendments that alter the advance notice provisions for stockholder proposals before any meeting of the stockholders; and</div></div><div class="item-list-element-wrapper" style="text-indent:0;tab-size:32px;display:flex;font-size:10pt;margin-top:0;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;">•<div style="display:inline;">Amendments that alter the Post-Closing Company stockholders’ ability to amend, alter or repeal the above listed provisions by an affirmative vote of at least 66 2⁄3% in voting power of the outstanding shares of capital stock.</div></div> </td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Amendment to Bylaws</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">See “Amendment of Certificate of Incorporation” above. </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Proposed Certificate of Incorporation provides that the Proposed Bylaws may be adopted, amended, altered or repealed by the affirmative vote of a majority of the Post-Closing Company Whole Board, or by the stockholders of the Post-Closing Company in accordance with the amendment provisions of the Proposed Bylaws.The Proposed Bylaws provide that amendments to certain provisions of the Proposed Bylaws, including those relating to the provisions related to the meetings of stockholders, the powers of the Post-Closing Company’s Board, the number of directors, the resignation, appointment, and removal of directors, the lock-up restrictions, the indemnification of the Post-Closing Company’s directors and officers, forum selection, and the amendment provisions, can only be adopted, amended, or repealed </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">with the affirmative vote of 66 2/3% of the total voting power of outstanding voting securities, voting together as a single class.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Liquidation</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that if TVA III shall be wound up, after satisfaction of creditors’ claims and subject to the rights attaching to TVA III’s shares: (a) if the assets available for distribution are insufficient to repay the whole of TVA III’s issued share capital, such assets shall be distributed so that, as nearly as may be, the losses shall be borne by TVA III’s shareholders in proportion to the par value of their shares; or (b)if the assets available for distribution are more than sufficient to repay the whole of TVA III’s issued share capital at the commencement of the winding up, the surplus shall be distributed amongst the shareholders in proportion to the par value of their shares (subject to a deduction from those shares in respect of which there are monies due, of all monies payable to TVA III for unpaid calls or otherwise).If TVA III shall be wound up, the liquidator may, by special resolution, divide among the shareholders in specie or kind the whole or any part of TVA III’s assets.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Post-Closing Company’s organizational documents do not contain a liquidation or similar provision. Under the DGCL, in the event of liquidation, after payment or provisions of the debts and other liabilities, any remaining assets shall be distributed to the stockholders of the dissolved corporation subject to obligations provided therein.</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:right;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Redemption Rights</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The TVA III Articles provide that, prior to the consummation of the initial business combination, TVA III shall provide holders of TVA III public shares, except for the Sponsor, any Founder and TVA III's directors and officers, with the opportunity to have their TVA III public shares redeemed upon:(a) the consummation of an initial business combination; and/or(b) any amendment to the TVA III Articles that would affect the substance or timing of TVA III's obligation to redeem 100% of the </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">The Post-Closing Company’s organization documents do not provide any stockholders of the Post-Closing Company with redemption rights. However, the Proposed Certificate of Incorporation provides that each share of Post-Closing Company Class B common stock will be convertible into a share of Post-Closing Company Class A common stock and each share of Post-Closing Company Class C common stock will be convertible into a share of Post-Closing Company Class A </td> </tr> </table> <table style="border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;"> <tr style="background-color:#ffffff;font-weight:bold;visibility:collapse;"> <td style="width:33.32%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> <td style="width:33.34%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Provision</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">TVA III</td> <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;">Post-Closing Company</td> </tr> <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0in;border-right:0.5pt solid;border-left:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:left;"> </td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">TVA III public shares if TVA III has not consummated an initial business combination within the completion window, or any amendment is made with respect to any other provision of the TVA III Articles relating to the rights of holders of TVA III Class A Ordinary Shares or pre-initial business combination activity,pursuant to, and subject to certain limitations set forth in the TVA III Articles for cash equal to the applicable redemption price per share.In the event that TVA III does not consummate a business combination within the completion window, or such later time as the shareholders of TVA III may approve in accordance with the TVA III MAA and TVA III Articles, TVA III shall, amongst other things, as promptly as reasonably possible but not more than ten (10) business days thereafter, subject to lawfully available funds, redeem the public shares, pursuant to, and subject to certain limitations set forth in the TVA III Articles for cash equal to the applicable redemption price per share.</td> <td style="padding-top:0in;border-right:0.5pt solid;padding-left:0.075in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.075in;text-align:right;">common stock under certain specified circumstances.</td> </tr> </table>

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<div style="font-size:10pt;font-family:Times New Roman;">Basis of PresentationThe accompanying consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”).</div><div style="font-size:10pt;font-family:Times New Roman;">Emerging Growth CompanyThe Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div><div style="font-size:10pt;font-family:Times New Roman;">Use of EstimatesThe preparation of financial statements in conformity with US GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</div><div style="font-size:10pt;font-family:Times New Roman;">Cash and Cash EquivalentsThe Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2025 and December 31, 2024.</div><div style="font-size:10pt;font-family:Times New Roman;">Offering Costs Associated with the Initial Public OfferingThe offering costs consisted of legal, accounting, underwriting and other costs incurred that were directly related to the Initial Public Offering and that were charged to shareholders’ deficit upon the completion of the Initial Public Offering.The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate the Initial Public Offering proceeds from the Units between ordinary shares and warrants, using the residual method by allocating the Initial Public Offering proceeds first to assigned value of the warrants and then to the ordinary shares. Offering costs allocated to the Public Shares are charged to temporary equity and offering costs allocated to the Public and Private Placement Warrants are charged to shareholders’ deficit as Public and Private Placement Warrants after management’s evaluation are accounted for under equity treatment. Offering costs allocated the NMSI Private Placement Warrants were charged to the statements of operations as the NMSI Warrants after management’s evaluation were accounted for as liabilities prior to the amendment to the December 31, 2025 amendment to the Warrant Agreement.</div><div style="font-size:10pt;font-family:Times New Roman;">Income TaxesThe Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2025 and December 31, 2024. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.There is currently no taxation imposed on income by the government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.</div><div style="font-size:10pt;font-family:Times New Roman;">Investments Held in Trust AccountAs of December 31, 2025, the Company had $232,460,533 invested in mutual funds held in the Trust Account. The Company’s portfolio of investments held in the Trust Account are invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act.</div><div>Net Income (Loss) per Ordinary ShareNet income (loss) per ordinary share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture. Basic weighted average shares were reduced for the 1,000,000 shares subject to forfeiture and were subsequently adjusted following the partial exercise by the underwriters (see Note 5). The calculation of diluted income (loss) per ordinary share does </div><div style="font-size:10pt;font-family:Times New Roman;">not consider the effect of the warrants issued in connection with the (i) Initial Public Offering and (ii) the Private Placement. Diluted earnings per share differs from basic earnings per share. For diluted earnings per share, the Class B non-redeemable ordinary shares subject to forfeiture are included in the calculation of total diluted shares at the beginning of the interim period in which the contingency was resolved. For basic earnings per share, the forfeited Class B non-redeemable ordinary shares are considered forfeited on the date of forfeiture.</div><div>The following tables reflect the calculation of basic net income (loss) per ordinary share: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">For the Year Ended December 31, 2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4,037,330</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15,472,603</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class A Ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.26</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,889,091</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,239,726</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class B Ordinary Share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.26</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">For the Period from July 26, 2024 (Inception) through December 31, 2024</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net loss, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net loss per Class A Ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net loss, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(44,737</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,666,667</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net loss per Class B Ordinary Share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.01</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;">)</td> </tr> </table> The following tables reflect the calculation of diluted net income (loss) per ordinary share: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.22%;box-sizing:content-box;"></td> <td style="width:1.48%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:16.3%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">For the Year Ended December 31, 2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4,028,017</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">15,472,603</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class A Ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.26</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,898,404</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,292,238</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class B Ordinary Share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.26</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> </div><div style="font-size:12pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">For the Period from July 26, 2024 (Inception) through December 31, 2024</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net loss, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net loss per Class A Ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net loss, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(44,737</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,666,667</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net loss per Class B Ordinary Share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">(0.01</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;">)</td> </tr> </table></div> <div style="font-size:10pt;font-family:Times New Roman;">Concentration of Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation limit. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</div><div style="font-size:10pt;font-family:Times New Roman;">Fair Value of Financial InstrumentsThe fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurement,” approximates the carrying amounts represented in the balance sheets, primarily due to their short-term nature.</div><div style="font-size:10pt;font-family:Times New Roman;">Fair Value MeasurementsFair value is defined as the price that would be received for sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. US GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</div></div>In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.</div><div style="font-size:10pt;font-family:Times New Roman;">Derivative Financial InstrumentsThe Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheets as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</div><div style="font-size:10pt;font-family:Times New Roman;">Warrant InstrumentsThe Company accounts for the Public Warrants issued in connection with the Initial Public Offering, the Private Placement Warrants and the NMSI Private Placement Warrants in accordance with the guidance contained in FASB ASC 815, “Derivatives and Hedging”. Under ASC 815-40, the Public Warrants and the Private Placement Warrants meet the criteria for equity treatment and as such are recorded in shareholders’ deficit. The NMSI Private Placement Warrants do not meet the criteria for equity treatment and as such are recorded as a liability and remeasured each period with changes recorded in the statements of operations. If the Public and Private Placement Warrants no longer meet the criteria for equity treatment, they will record as a liability and be remeasured each period with changes recorded in the statements of operations. On December 31, 2025, the Company issued an amendment to the warrant agreement that removed the settlement provision that precluded the NMSI Private Placement Warrants from equity treatment. As a result of this amendment, the Company determined that the NMSI Private Placement Warrants meet the criteria for equity treatment and as such were reclassified to additional paid-in capital.</div><div style="font-size:12pt;font-family:Times New Roman;">Class A Ordinary Shares Subject to RedemptionThe Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of December 31, 2025, TVA III Class A Ordinary Shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s balance sheets. <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Gross proceeds</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">225,000,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Proceeds allocated to public warrants</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(3,037,500</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Class A ordinary share issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(13,802,579</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Accretion of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">19,698,991</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4,601,621</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">232,460,533</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table></div></div> <div>Recent Accounting StandardsIn November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses,” which requires disclosures of certain disaggregated income statement expense captions into specified categories within the footnotes to the financial statements. The requirements of the ASU are effective for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. </div><div style="font-size:10pt;font-family:Times New Roman;">The requirements will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact ASU 2024-03 will have on its financial statements.Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.</div>

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166667

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166667 1000000 NOTE 8 - WARRANTSIn connection with the Initial Public Offering as of April 24, 2025, and as of December 31, 2025, there were 18,818,750 warrants outstanding, including 11,250,000 Public Warrants, 7,568,750 Private Placement Warrants (inclusive of the 4,100,000 NMSI Private Placement Warrants owned by the Prior Sponsor that were allocated to the non-managing sponsor investors as a result of the non-managing sponsor investor’s membership interests in the Prior Sponsor).On September 18, 2025, the Company, the Prior Sponsor and the New Sponsor entered into the Purchase Agreement. Pursuant to the Purchase Agreement, the New Sponsor (i) purchased from the Prior Sponsor (a) 7,500,000 shares of Class B Ordinary Shares and (b) 4,700,000 Private Placement Warrants (including the 4,100,000 NMSI Private Placement Warrants) for an aggregate purchase price of $7,400,000 and (ii) upon closing, became the sponsor of the Company. After the closing of the Purchase Agreement, the non-managing sponsor investors ceased to have any rights, claims, or interests in or to any Sponsor held securities.On December 31, 2025, the Company issued an amendment to the warrant agreement that removed the settlement provision that precluded the NMSI Private Placement Warrants from equity treatment. As a result of this amendment, the Company determined that the NMSI Private Placement Warrants meet the criteria for equity treatment and as such were reclassified to additional paid-in capital.Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The Public Warrants will become exercisable 30 days after the completion of a Business Combination. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.The Company will not be obligated to deliver any Class A ordinary share pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act covering the issuance of the TVA III Class A Ordinary Shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those TVA III Class A Ordinary Shares is available, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of residence of the exercising holder, or an exemption from registration is available.The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, the Company will use its commercially reasonable efforts to file, and within 60 Business Days following a Business Combination to have declared effective, a registration statement covering the issuance of the TVA III Class A Ordinary Shares issuable upon exercise of the warrants and to maintain a current prospectus relating to those TVA III Class A Ordinary Shares until the warrants expire or are redeemed. Notwithstanding the above, if the Class A ordinary share is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.Redemption of Warrants. When the price per Class A ordinary share equals or exceeds $18.00, the warrants become exercisable and the Company may redeem the outstanding Public Warrants:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">in whole and not in part;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">at a price of $0.01 per Public Warrant;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">upon a minimum of 30 days’ prior written notice of redemption, or the 30-day redemption period to each warrant holder; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">if, and only if, the last reported sale price of the TVA III Class A Ordinary Shares equals or exceeds $18.00 per share (as adjusted for share splits, share dividends, reorganization, recapitalizations and the like).</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">for any 10 trading days within a 20-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to warrant holders.</div></div>If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws.In addition, if (x) the Company issues additional TVA III Class A Ordinary Shares or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by its board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of its initial Business Combination on the date of the completion of its initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of TVA III Class A Ordinary Shares during the 20 day trading period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the Public Warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per-share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price.The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the TVA III Class A Ordinary Shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or saleable until 30 days after the completion of a Business Combination, subject to certain limited exceptions.

18818750

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P10D P20D

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The Company used the following assumptions to value the Public Warrants and NMSI Warrants at April 24, 2025. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Volatility</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Risk-Free Rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3.8</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Dividends</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.00</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Market Adjustment</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">16.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Stock Price</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9.87</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Weighted Term (years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2.83</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> The Company used a Monte Carlo simulation model with the following assumptions to value the NMSI Warrants at December 31, 2025. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Volatility</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Risk Free Rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3.48</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Dividends</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">0.00</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Market Adjustment</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">14.50</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Stock Price</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.65</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Weighted Term (years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.34</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table>

6.6

3.8

16.7

9.87

2.83

21.2

3.48

14.5

10.65

1.34

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statements of operations as net income or loss. The measure of segment assets is reported on the balance sheets as total assets.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<div style="font-size:10pt;font-family:Times New Roman;">Basis of PresentationThe accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in unaudited condensed financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K as filed with the SEC on April 15, 2026. The interim results for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any future periods.</div><div>Emerging Growth CompanyThe Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard </div><div style="font-size:10pt;font-family:Times New Roman;">at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</div><div style="font-size:10pt;font-family:Times New Roman;">Use of EstimatesThe preparation of unaudited condensed financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting periods.Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</div><div style="font-size:10pt;font-family:Times New Roman;">Cash and Cash EquivalentsThe Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of June 30, 2026 and December 31, 2025.</div><div style="font-size:10pt;font-family:Times New Roman;">Offering Costs Associated with the Initial Public OfferingThe offering costs consisted of legal, accounting, underwriting and other costs incurred that were directly related to the Initial Public Offering and that were charged to shareholders’ deficit upon the completion of the Initial Public Offering.The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate the Initial Public Offering proceeds from the Public Units between ordinary shares and warrants, using the residual method by allocating the Initial Public Offering proceeds first to assigned value of the warrants and then to the ordinary shares. Offering costs allocated to the Public Shares are charged to temporary equity and offering costs allocated to the Public and Private Placement Warrants are charged to shareholders’ deficit as Public and Private Placement Warrants after management’s evaluation are accounted for under equity treatment. Offering costs allocated the NMSI Private Placement Warrants were charged to the condensed statements of operations as the NMSI Private Placement Warrants after management’s evaluation were accounted for as liabilities prior to the December 31, 2025 amendment to the warrant agreement.</div><div>Income TaxesThe Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The </div><div style="font-size:10pt;font-family:Times New Roman;">Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2026 and December 31, 2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.There is currently no taxation imposed on income by the government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.</div><div style="font-size:10pt;font-family:Times New Roman;">Investments Held in Trust AccountAs of June 30, 2026 and December 31, 2025, the Company had $236,580,243 and $232,460,533 invested in mutual funds held in the Trust Account, respectively. The Company’s portfolio of investments held in the Trust Account are invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act.</div><div style="font-size:10pt;font-family:Times New Roman;">Net Income per Ordinary ShareThe Company has two classes of shares, Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. The Company complies with the accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share”. Net income per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. Accretion associated with redeemable Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value.The Company has not considered the effect of the Public Warrants in the calculation of diluted net income per share, since the exercise of such warrants is contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive.For diluted earnings per share, the Class B non-redeemable ordinary shares subject to forfeiture are included in the calculation of total diluted shares at the beginning of the interim period in which the contingency was resolved. For basic earnings per share, the forfeited Class B non-redeemable ordinary shares are considered forfeited on the date of forfeiture.</div><div>The following tables reflect the calculation of basic net income per ordinary share for the three and six months ended June 30, 2026 and 2025: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">660,835</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,492,948</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,403,315</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">220,278</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,406,603</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,975,138</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,015,192</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,966,770</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">14,725,275</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">338,398</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">972,377</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,280,220</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> The following tables reflect the calculation of diluted net income per ordinary share for the three and six months ended June 30, 2026 and 2025: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">660,835</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,440,370</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,403,315</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">220,278</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,459,181</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.19</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> </div><div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,015,192</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,947,321</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">14,725,275</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">338,398</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">991,826</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table></div> <div style="font-size:10pt;font-family:Times New Roman;">Concentration of Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation limit. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</div><div style="font-size:10pt;font-family:Times New Roman;">Fair Value of Financial InstrumentsThe fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurement,” approximates the carrying amounts represented in the condensed balance sheets, primarily due to their short-term nature.</div><div style="font-size:10pt;font-family:Times New Roman;">Fair Value MeasurementsFair value is defined as the price that would be received for sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:<div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</div></div><div class="item-list-element-wrapper" style="margin-left:0.25in;tab-size:32px;display:flex;font-size:10pt;margin-top:12pt;justify-content:flex-start;font-family:Times New Roman;align-items:baseline;margin-bottom:0;min-width:0.25in;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:3.9998336002662396%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">•<div style="display:inline;">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</div></div>In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.</div><div style="font-size:10pt;font-family:Times New Roman;">Derivative Financial InstrumentsThe Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the condensed statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheets as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</div><div style="font-size:10pt;font-family:Times New Roman;">Warrant InstrumentsThe Company accounts for the Public Warrants issued in connection with the Initial Public Offering, the Private Placement Warrants and the NMSI Private Placement Warrants in accordance with the guidance contained in FASB ASC 815, “Derivatives and Hedging”. Under ASC 815-40, the Public Warrants and the Private Placement Warrants meet the criteria for equity treatment and as such are recorded in shareholders’ deficit. The NMSI Private Placement Warrants did not meet the criteria for equity treatment and as such were recorded as a liability and remeasured each period with changes recorded in the condensed statements of operations. If the Public and Private Placement Warrants no longer meet the criteria for equity treatment, they will record as a liability and be remeasured each period with changes recorded in the condensed statements of operations. On December 31, 2025, the Company issued an amendment to the warrant agreement that removed the settlement provision that precluded the NMSI Private Placement Warrants from equity treatment. As a result of this amendment, the Company determined that the NMSI Private Placement Warrants met the criteria for equity treatment and as such were reclassified to additional paid-in capital.</div><div style="font-size:12pt;font-family:Times New Roman;">Class A Ordinary Shares Subject to RedemptionThe Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly, as of June 30, 2026, TVA III Class A Ordinary Shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the Company’s condensed balance sheets. <div style="font-size:10pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Gross proceeds</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">225,000,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Proceeds allocated to public warrants</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(3,037,500</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Class A ordinary share issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(13,802,579</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Accretion of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19,698,991</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4,601,621</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">232,460,533</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,044,010</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, March 31, 2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">234,504,543</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,075,700</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">236,580,243</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table></div> </div><div style="font-size:10pt;font-family:Times New Roman;">Recent Accounting StandardsIn November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses,” which requires disclosures of certain disaggregated income statement expense captions into specified categories within the footnotes to the financial statements. The requirements of the ASU are effective for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The requirements will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact ASU 2024-03 will have on its financial statements.Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.</div>

236580243

232460533

P185D

The following tables reflect the calculation of basic net income per ordinary share for the three and six months ended June 30, 2026 and 2025: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">660,835</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,492,948</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,403,315</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">220,278</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,406,603</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">6,975,138</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,015,192</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,966,770</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">14,725,275</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, basic</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">338,398</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">972,377</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Basic weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,280,220</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Basic net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> The following tables reflect the calculation of diluted net income per ordinary share for the three and six months ended June 30, 2026 and 2025: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">660,835</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,440,370</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,403,315</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class B non-redeemable ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">220,278</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,459,181</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.03</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.19</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Class A ordinary shares subject to possible redemption</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,015,192</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,947,321</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">22,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">14,725,275</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class A ordinary share subject to possible redemption</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;">Class B ordinary shares</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Numerator: Allocation of net income, diluted</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">338,398</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">991,826</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Denominator: Diluted weighted average shares outstanding</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">7,500,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Diluted net income per Class B non-redeemable ordinary share</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.05</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">0.13</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table>

660835

1492948

22500000

7403315

0.03

0.2

220278

1406603

7500000

6975138

0.03

0.2

1015192

1966770

22500000

14725275

0.05

0.13

338398

972377

7500000

7280220

0.05

0.13

660835

1440370

22500000

7403315

0.03

0.2

220278

1459181

7500000

0.03

0.19

1015192

1947321

22500000

14725275

0.05

0.13

338398

991826

7500000

0.05

0.13

<table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Gross proceeds</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">225,000,000</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Proceeds allocated to public warrants</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(3,037,500</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Less: Class A ordinary share issuance costs</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">(13,802,579</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">)</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Accretion of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">19,698,991</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">4,601,621</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">232,460,533</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,044,010</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, March 31, 2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">234,504,543</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Add: Remeasurement of carrying value to redemption value</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;text-align:center;">2,075,700</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #000000;padding-right:0.01in;text-align:center;">236,580,243</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:2.25pt double #ffffff03;padding-right:0.01in;text-align:left;"> </td> </tr> </table>

225000000

3037500

13802579

19698991

4601621

232460533

2044010

234504543

2075700

236580243

Recent Accounting StandardsIn November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses,” which requires disclosures of certain disaggregated income statement expense captions into specified categories within the footnotes to the financial statements. The requirements of the ASU are effective for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The requirements will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact ASU 2024-03 will have on its financial statements.Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

1 1

11.5

7568750

11.5

7568750

2868750

4700000

4100000

11.5

P30D

NOTE 5 - RELATED PARTIESFounder SharesOn August 1, 2024, the Prior Sponsor received 7,666,667 TVA III Class B Ordinary Shares (the “Founder Shares”) in exchange for a payment of $25,000.On April 24, 2025, 166,667 Founder Shares were forfeited as the underwriters did not fully exercise the over-allotment option.On September 18, 2025, pursuant to the Purchase Agreement, the Prior Sponsor sold 7,500,000 Founder Shares and 4,700,000 Private Placement Warrants to the New Sponsor for an aggregate purchase price of $7,400,000, and, upon closing, the New Sponsor became the Company’s sponsor.The New Sponsor has agreed not to transfer or sell any of their Founder Shares and any Class A ordinary shares issuable upon conversion thereof until the closing of the Company’s initial Business Combination; except to affiliates, members or partners of the Sponsor or their affiliates, or any employees of such affiliates, provided that in each case the transferee agrees in writing to be bound by the terms of the Insider Letter. In connection with the Purchase, the parties also entered into a joinder to and amendment of the Registration Rights Agreement that removed lock‑up obligations under that agreement for the New Sponsor.General and Administrative ServicesCommencing on the effective date of the Initial Public Offering on April 24, 2025 and through the earlier of the Company’s consummation of a Business Combination or its liquidation, the Company has agreed to pay the Sponsor or an affiliate thereof a monthly fee of $10,000 for office space, utilities and secretarial and administrative support. For the three and six months ended June 30, 2025, the Company had incurred and paid the Prior Sponsor $20,000 of administrative costs. Pursuant to the Purchase Agreement executed on September 18, 2025, the Administrative Services Agreement with the Prior Sponsor was terminated and no further fees were accrued thereafter.CEO Advisory AgreementEffective October 2025, the Company agreed to pay a monthly advisory fee of $15,000 to the Chief Executive Officer, Kevin McGurn, to provide advisory services to the Company in connection with identifying, investigating, negotiating and completing the Company’s initial Business Combination and related matters. The advisory fee continues on a monthly basis until the earliest to occur of (i) the closing and completion of the Company’s initial Business Combination or (ii) the liquidation of the Company. Other than the foregoing, none of the Company’s officers or directors have received any compensation for services rendered to the Company. For the three and six months ended June 30, 2026, the Company has incurred $11,250 and $56,250 in advisory fees and paid $56,250. As of June 30, 2026 and December 31, 2025, there was $0 and $45,000 outstanding under the agreement. The obligation to pay this monthly advisory fee terminated upon the resignation of Mr. McGurn as Chief Executive Officer on April 22, 2026. There are $11,109 of accrued expense reimbursements for Mr. McGurn as of June 30, 2026 and December 31, 2025 recorded to accrued expenses in the condensed balance sheets.Promissory Notes - Related PartyOn August 1, 2024, the Prior Sponsor issued an unsecured promissory note (the “Promissory Note”) to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of up to $300,000. The Promissory Note is non-interest bearing and payable on the earlier of (i) December 31, 2024, or (ii) the consummation of the Initial Public Offering. On March 14, 2025, the Company amended and restated the Promissory Note to extend the maturity date of the Promissory Note from December 31, 2024 to December 31, 2025. As of June 30, 2026 and December 31, 2025, there was nothing outstanding under the Promissory Note. As of June 30, 2026, the Promissory Note is not available for further draw down.Working Capital LoansIn order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of the notes may be converted upon completion of a Business Combination into warrants at a price of $1.00 per warrant. Such warrants would be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of June 30, 2026 and December 31, 2025, there was no amount outstanding under the Working Capital Loans.Due to Related PartyOn December 31, 2025, the Sponsor paid for certain expenses on behalf of the Company totaling $2,425. This due to related party is not a drawdown on the above Working Capital Loans, it is non-interest bearing and is due on demand. The Company repaid the Sponsor in full on March 12, 2026. As of June 30, 2026, there is no amount due to a related party.

7666667

25000

166667

7500000 4700000 7400000

10000

20000

15000 11250 56250 56250 0 45000 11109 11109

300000

1500000 1

2425

P45D 3000000

2500000

500000 0.2 4500000 0.4

9000000

5000000

0.0001

500000000

0.0001

one

22500000

50000000

0.0001

one

166667 1000000

7500000

18818750

11250000

7568750

4100000

7500000 4700000 4100000 7400000 P30D

P5Y

P60D

0.01

P30D

P10D P20D

9.2

0.60 P20D

9.2

1.15 18 1.80 P30D

236580243

232460533

2480500

183818

2664318

11250000

4100000

0.27 0.61

3036621

2480500

The Company used the following assumptions to value the Public Warrants and NMSI Private Placement Warrants at April 24, 2025. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Volatility</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">6.6</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Risk-Free Rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3.8</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Dividends</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Market Adjustment</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">16.7</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Stock Price</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">9.87</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Weighted Term (years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2.83</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> The Company used a Monte Carlo simulation model with the following assumptions to value the NMSI Private Placement Warrants at December 31, 2025. <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.236%;box-sizing:content-box;"></td> <td style="width:1.94%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:15.823%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Volatility</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">21.20</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Risk Free Rate</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3.48</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Dividends</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">—</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Market Adjustment</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">14.50</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">%</td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Stock Price</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">10.65</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Weighted Term (years)</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1.34</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table>

6.6

3.8

16.7

9.87

2.83

21.2

3.48

14.5

10.65

1.34

NOTE 10 - SEGMENT INFORMATIONASC Topic 280, “Segment Reporting,” establishes standards for companies to report, in their financial statements, information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.The Company’s CODM has been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one reporting segment.The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the condensed statements of operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income or loss and total assets, which include the following:<div style="font-size:12pt;font-family:Times New Roman;"> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">December 31,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">256,897</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">856,131</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236,580,243</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">232,460,533</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">General and administrative expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,244,511</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">276,512</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Interest income earned on investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4,119,710</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,733,912</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">General and administrative expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">723,227</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236,916</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Interest income earned on investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,075,700</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,733,912</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> </div>General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a Business Combination or similar transaction within the Business Combination period. The CODM also evaluates general and administrative expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative expenses, as reported on the condensed statements of operations, are the significant segment expenses provided to the CODM on a regular basis.Interest income earned on investments held in Trust Account are reviewed and monitored by the CODM to forecast amounts held in the Trust Account that can be utilized to consummate an initial Business Combination. The CODM also evaluates this metric to ensure the investments are generating an appropriate rate of return.All other segment items included in net income are reported on the condensed statements of operations and described within their respective disclosures.

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the condensed statements of operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total assets.

the CODM reviews several key metrics included in net income or loss and total assets, which include the following: <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">December 31,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Cash</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">256,897</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">856,131</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236,580,243</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">232,460,533</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">Six Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">General and administrative expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">3,244,511</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">276,512</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Interest income earned on investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">4,119,710</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,733,912</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table> <table style="margin-left:auto;border-spacing:0;table-layout:auto;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:66.993%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:1.62%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> <td style="width:12.883000000000001%;box-sizing:content-box;"></td> <td style="width:1%;box-sizing:content-box;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;">For the Three Months Ended</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="6" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">June 30,</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;text-align:left;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2026</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #000000;padding-right:0.01in;">2025</td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">General and administrative expenses</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">723,227</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">236,916</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> <td style="padding-top:0.01in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;"> </td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;">Interest income earned on investments held in Trust Account</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">2,075,700</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;">$</td> <td style="padding-top:0.01in;white-space:pre-wrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:center;">1,733,912</td> <td style="padding-top:0.01in;white-space:nowrap;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0.01in;text-align:left;"> </td> </tr> </table>

256897

856131

236580243

232460533

3244511

276512

4119710

1733912

723227

236916

2075700

1733912

For the period from July 26, 2024 (inception) through December 31, 2024, 1,000,000 shares of Class B ordinary shares were excluded as they were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (Note 7).