v3.26.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 4,971,272 $ 250,666
Adjustments to reconcile net income to net cash used in operating activities:    
Change in fair value of derivative warrant liabilities (2,982,160) (1,028,330)
Change in fair value of Backstop agreement 39,110 34,486
Gain from extinguishment of Backstop agreement (233,350)
Gain from extinguishment of liabilities (1,045,747)
Gain on sale of payment rights (2,925,000)
Issuance of Backstop agreement 283,739
Income from cash held in Trust Account (444,831) (2,841,789)
General and administrative expenses paid by related party 709,338
Changes in operating assets and liabilities:    
Prepaid expenses 252,437 242,762
Accounts payable 202,038 181,423
Accrued expenses (2,212,107) 1,583,886
Net cash used in operating activities (3,669,000) (1,293,157)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account (600,000) (720,000)
Cash withdrawn from Trust Account for redemptions 22,485,938
Proceeds from sale of payment rights 2,925,000
Net cash provided by (used in) investing activities 24,810,938 (720,000)
Cash Flows from Financing Activities:    
Proceeds received from promissory note - related party 1,323,236 1,533,000
Repayment of advances from related party (536,146)
Advances from related party 565,000 438,566
Redemption of ordinary shares (22,485,938)
Net cash (used in) provided by financing activities (21,133,848) 1,971,566
Net change in cash 8,090 (41,591)
Cash—beginning of the period 518 75,550
Cash—end of the period 8,608 33,959
Supplemental Disclosure of Noncash Financing Activities    
Vendor payment made by related party 250,000
Increase in redemption value of Class A ordinary shares subject to possible redemption in connection with Trust Account receivable 135,122
Capital contribution from related party through assumption of legal fees and forgiveness of advances $ 932,538