Note 6 — Commitments and Contingencies

Registration Rights

The holders of the Founder Shares, Private Units (and underlying securities) and any units that may be issued upon conversion of working capital loans are entitled to registration rights pursuant to a registration rights agreement. These holders are entitled to make up to a specified number of demands that the Company register such securities and to certain “piggyback” registration rights. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters were paid an underwriting discount of $1,612,500 in connection with the IPO. In addition, the underwriters are entitled to a deferred underwriting commission of $2,415,000, equal to $0.35 per Unit sold in the IPO, payable solely in the event the Company completes a Business Combination, subject to the terms of the underwriting agreement. The Company also sold to the underwriters, for $100, a unit purchase option to purchase up to 58,000 Units exercisable at $11.50 per Unit.

Due to HCYC

HCYC, the Company’s proposed business combination target, has from time to time paid certain expenses on behalf of the Company. As of June 30, 2026 and December 31, 2025, the amount due to HCYC was $892,301 and $752,363, respectively.