v3.26.3
Fair Value Measurements
 7 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements
NOTE 8 — FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received for sale of an asset or paid for transfer of liability in an orderly transaction between market participants at the measurement date. U.S. 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:
 
  •  
Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;
 
  •  
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
 
  •  
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. 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.
The following table presents information about the Company’s assets that are measured at fair value as of September 30, 2026, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
 
Description
    Level      September 30,
2026		  
Assets:
      
Marketable securities held in Trust Account
      1      $ 100,783,871  
 
 
The over-allotment option was accounted for as a liability in accordance with ASC 480 and was presented within liabilities on the unaudited condensed balance sheet. The over-allotment option liability is measured at fair value at inception and on a recurring basis, with changes in fair value presented within changes in fair value of over-allotment option liability in the unaudited condensed statements of operations.
The initial fair value of the over-allotment option on September 2, 2026 was $91,400, or $0.061 per over-allotment unit. On September 10, 2026, EBC forfeited the over-allotment option and the over-allotment option liability was derecognized. The Company used a Black-Scholes model to value the over-allotment option. The over-allotment option liability was classified within Level 3 of the fair value hierarchy at the measurement date due to the use of unobservable inputs. Inherent in pricing models are assumptions related to expected share-price volatility, expected life and risk-free interest rate. The Company estimates the volatility of its ordinary shares based on historical volatility that matches the expected remaining life of the option. The risk-free interest rate is based on the U.S. Treasury
zero-coupon
yield curve as of the measurement date for a maturity similar to the expected remaining life of the option. The expected life of the option is assumed to be equivalent to its remaining contractual term.
The key inputs into the Black-Scholes model were as follows at initial measurement of the over-allotment option:
 
     September 2, 2026  
Risk-free interest rate
      3.87 % 
Expected term (years)
      0.12  
Volatility
      2.29 % 
Exercise price
    $ 10.00  
Fair value of over-allotment unit
    $ 0.061  
The following table presents the changes in the fair value of Level 3 over-allotment option liability:
 
     Over-allotment
Option
Liability		  
Balance — March 10, 2026 (inception)
    $ —   
Initial value at Initial Public Offering
      91,400  
Change in fair value
      (91,400 ) 
  
 
 
  
Balance – September 30, 2026
    $ —   
  
 
 
  
The fair value of the Public Warrants is $3,300,000, or $0.66 per Public Warrant. The fair value of Public Warrants was determined using Monte Carlo Simulation Model. The Public Warrants have been classified within shareholders’ equity and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the level 3 valuation of the Public Warrants:
 
     September 2, 2026  
Share price
    $ 10.45  
Exercise price
    $ 11.50  
Annual volatility
      9.1 % 
Trading days per year
      252  
Risk-free rate
      4.54 % 
Probability of successful acquisition
      45.0 %