Related Party Transactions |
6 Months Ended |
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Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 5 — Related Party Transactions
Founder Shares
On September 28, 2021, the Sponsor purchased of the Company’s Class B ordinary shares (the “Founder Shares”) for an aggregate purchase price of $25,000. On January 8, 2022, the Company effected a recapitalization pursuant to which the Founder Shares were reclassified into ordinary shares and the Sponsor was issued additional shares, resulting in an aggregate of Founder Shares outstanding, of which up to were subject to forfeiture to the extent the over-allotment option was not exercised in full. As a result of the underwriters’ exercise of the over-allotment option in full, no Founder Shares were forfeited.
Promissory Notes — Related Party
The Company has issued a series of unsecured promissory notes to the Sponsor to finance working capital and costs associated with extending the period available to complete a Business Combination. The notes are non-interest bearing and are payable upon the consummation of a Business Combination. As of June 30, 2026 and December 31, 2025, the aggregate amount outstanding under the promissory notes issued to the Sponsor was $1,262,500.
Due to Related Parties
From time to time, the Sponsor and the Company’s officers and directors advance funds to the Company, or pay expenses on behalf of the Company, for working capital purposes. As of June 30, 2026 and December 31, 2025, the amount due to related parties was $929,028 and $814,700, respectively.
Administrative Support Agreement
Commencing on the effective date of the IPO, the Company agreed to pay an affiliate of the Sponsor a total of $10,000 per month for office space, administrative and shared personnel support services. For the three and six months ended June 30, 2026 and 2025, the Company incurred $30,000 and $60,000 of such fees, respectively.
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