ADDED
As of September 30, 2025, the Company had not commenced any operations.
All activity for the period from February 10, 2025 (inception) through September 30, 2025 relates to the Company s formation, the Initial Public Offering (as defined below), and the search for a suitable target to effect the Business Combination.
Liquidity and Capital Resources As of September 30, 2025, the Company had $ 1,045,403 cash and working capital of $ 1,061,429 .
In the opinion of Company management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair statement of the financial position, operating results and cash flows for the periods presented.
The Company had $ 1,045,403 cash and no cash equivalents as of September 30, 2025.
Cash Held in Trust Account As of September 30, 2025, the assets held in Trust Account, amounting to $ 203,677,270 , were held in marketable securities.
Net Income (Loss) Per Ordinary Share The Company has two classes of shares, non-redeemable Class A ordinary shares and Class B ordinary shares (the non-redeemable shares ) and redeemable Class A ordinary shares (the redeemable shares ).
For the three months ended September 30, 2025 and for the period from February 10, 2025 (inception) through September 30, 2025, the Company recorded $ 15,500 and $ 17,833 to administrative services fee related party on the statement of operations, respectively and has paid $ 12,833 as of September 30, 2025, resulting in an accrual of $ 5,000 to administrative services fee payable related party on the balance sheet.
As of September 30, 2025, no such Working Capital Loans were outstanding.
The following table sets forth by level within the fair value hierarchy the Company s assets and liabilities that were accounted for at fair value on a recurring basis: (Level 1) (Level 2) (Level 3) As of September 30, 2025 Assets: Treasury Trust Funds held in Trust Account $ 203,677,270 $ $ The fair value of the Public Rights is $ 4,361,306 , or $ 0.23 per Public Rights as of June 16, 2025, the date of the consummation of the Initial Public Offering.
REMOVED
Unaudited Condensed Balance Sheet as of June 30, 2025 1 Unaudited Condensed Statement of Operations for the three months ended June 30, 2025 and for the period from February 10, 2025 (Inception) through June 30, 2025 2 Unaudited Condensed Statement of Changes in Shareholders Deficit for the three months ended June 30, 2025 and for the period from February 10, 2025 (Inception) through June 30, 2025 3 Unaudited Condensed Statement of Cash Flows for the period from February 10, 2025 (Inception) through June 30, 2025 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.
The Company has not selected any specific Business Combination target and the Company has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any Business Combination target with respect to an initial Business Combination with the Company.
As of June 30, 2025, the Company had not commenced any operations.
All activity for the period from February 10, 2025 (inception) through June 30, 2025 relates to the Company s formation and the Initial Public Offering (as defined below).
Liquidity and Capital Resources As of June 30, 2025, the Company had $ 1,235,432 cash and working capital of $ 1,269,573 .
The Company had $ 1,235,432 cash and no cash equivalents as of June 30, 2025.
Cash Held in Trust Account As of June 30, 2025, the assets held in Trust Account, amounting to $ 201,571,137 , were held in marketable securities.
The fair value of the Public Rights is $ 4,361,306 , or $ 0.23 per Public Rights as of June 16, 2025, the date of the consummation of the Initial Public Offering.
The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Rights: June 16, 2025 Implied ordinary share price $ 9.77 Probability of acquisition 60 % Calculated value per Public Right $ 0.23 Net Income (Loss) Per Ordinary Share The Company has two classes of shares, non-redeemable Class A ordinary shares and Class B ordinary shares (the non-redeemable shares ) and redeemable Class A ordinary shares (the redeemable shares ).
For the three months ended June 30, 2025 and for the period from February 10, 2025 (inception) through June 30, 2025, the Company recorded $ 2,333 to administrative services fee related party on the statement of operations and has not paid any amounts as of June 30, 2025, resulting in an accrual of $ 2,333 to administrative services fee payable related party on the balance sheet.