v3.26.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule of reconciliation of Class A ordinary shares subject to redemption reflected in the balance sheet

​

​

​

​

​

Class A ordinary shares subject to possible redemption, December 31, 2025

  ​ ​ ​

​

245,609,352

Plus:

​

​

​

Accretion of carrying value to redemption value

​

​

2,131,533

Class A ordinary shares subject to possible redemption, March 31, 2026

​

​

247,740,885

Less:

​

​

​

Redemptions

​

​

(158,489,876)

Plus:

​

​

​

Accretion of carrying value to redemption value

​

​

2,132,285

Class A ordinary shares subject to possible redemption, June 30, 2026

​

$

91,383,294

​

​

​

​

​

Gross proceeds

  ​ ​ ​

$

230,000,000

Less:

 

​

​

Proceeds allocated to Public Warrants

 

​

(920,000)

Class A ordinary shares issuance costs

 

​

(14,381,098)

Plus:

 

​

​

Remeasurement of carrying value to redemption value

 

​

21,065,862

Class A ordinary shares subject to possible redemption, December 31, 2024

​

​

235,764,764

Plus:

​

​

​

Remeasurement of carrying value to redemption value

​

​

9,844,588

Class A ordinary shares subject to possible redemption, December 31, 2025

​

$

245,609,352

Schedule of calculation of basic and diluted net income per ordinary share

The following tables reflect the calculation of basic and diluted net income per Ordinary Share (in dollars, except per share amounts):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended June 30, 

​

​

2026

​

2025

​

​

​

​

​

Class A and

​

​

​

​

​

​

​

​

Class A

​

Class B Non-

​

​

​

​

​

​

​

  ​ ​ ​

Redeemable

  ​ ​

Redeemable

  ​ ​ ​

Class A

  ​ ​ ​

Class B

Basic and diluted net income (loss) per ordinary share

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

Numerator:

 

​

​

​

​

  ​

 

​

  ​

 

​

  ​

Allocation of net income (loss), as adjusted

​

$

(417,838)

​

$

(89,215)

​

$

1,837,254

​

$

459,313

Denominator:

​

 

​

​

 

​

​

 

​

​

 

​

Basic and diluted weighted average ordinary shares outstanding

​

 

23,082,947

​

 

4,928,572

​

 

23,000,000

​

 

5,750,000

Basic and diluted net income (loss) per ordinary share

​

$

(0.02)

​

$

(0.02)

​

$

0.08

​

$

0.08

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Six Months Ended June 30,

​

​

2026

​

2025

​

  ​ ​ ​

​

​

  ​ ​ ​

Class A and 

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

Class A

​

Class B Non-

​

​

​

​

​

​

​

​

 Redeemable

​

Redeemable

​

Class A

​

Class B

Basic and diluted net income per ordinary share

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Numerator:

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Allocation of net income, as adjusted

​

$

1,293,767

​

$

299,668

​

$

3,573,379

​

$

893,345

Denominator:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Basic and diluted weighted average ordinary shares outstanding

​

 

23,041,702

​

 

5,337,017

​

 

23,000,000

​

 

5,750,000

Basic and diluted net income per ordinary share

​

$

0.06

​

$

0.06

​

$

0.16

​

$

0.16

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Years Ended December 31, 

​

​

2025

​

2024

​

  ​ ​ ​

Class A

  ​ ​

Class B

  ​ ​ ​

Class A

  ​ ​ ​

Class B

Basic and diluted net income per ordinary share

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

Numerator:

 

​

​

​

​

  ​

 

​

  ​

 

​

  ​

Allocation of net income, as adjusted

​

$

6,415,560

​

$

1,603,890

​

$

3,592,135

​

$

1,641,350

Denominator:

​

 

​

​

 

​

​

 

​

​

 

​

Basic weighted average shares outstanding

​

 

23,000,000

​

 

5,750,000

​

 

11,783,562

​

 

5,384,247

Basic net income per ordinary share

​

$

0.28

​

$

0.28

​

$

0.30

​

$

0.30