ADDED
(2) Share amounts at September 30, 2024 have been retroactively restated to reflect to share recapitalization subsequent to September 30, 2024, in October 2024, that resulted in the issuance of an additional 1,676,413 Class B ordinary shares in October 2024 (see Notes 5 and 8).
(2) Share amounts at September 30, 2024 have been retroactively restated to reflect to share recapitalization subsequent to September 30, 2024, in October 2024, that resulted in the issuance of an additional 1,676,413 Class B ordinary shares in October 2024 (see Notes 5 and 8).
As of September 30, 2025, the Company had not commenced any operations.
6 Upon the closing of the Public Offering, an aggregate of $ 10.05 per Unit sold in the Public Offering approximately $ 202,256,000 was deposited into the Trust Account and may only be invested in U.S.
Liquidity and Capital Resources As of September 30, 2025, the Company had approximately $ 1,389,000 in cash.
10 Offering Costs The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, Expenses of Offering.
FASB ASC 470-20, Debt with Conversion and Other Options, addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components.
12 Note 3 Public Offering Pursuant to the Public Offering, the Company offered for sale 20,125,000 Units (including the exercise of the underwriters over-allotment option in full) at a purchase price of $ 10.00 per Unit.
During the three and nine months ended September 30, 2025, respectively, $ 120,000 and $ 280,000 was charged to operations and no amounts were outstanding at September 30, 2025.
As of September 30, 2025, no such Working Capital Loans were outstanding.
REMOVED
Interim Financial Statements 1 Condensed Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 1 Condensed Statements of Operations for the three and six months ended June 30, 2025 (Unaudited) 2 Condensed Statements of Changes in Shareholders Deficit for three and six months ended June 30, 2025 (Unaudited) 3 Condensed Statement of Cash Flows for the six months ended June 30, 2025 (Unaudited) 4 Notes to Condensed Financial Statements (Unaudited) 5 Item 2.
As of June 30, 2025, the Company had not commenced any operations.
5 Upon the closing of the Public Offering, an aggregate of $ 10.05 per Unit sold in the Public Offering approximately $ 202,256,000 was deposited into a Trust Account (the Trust Account ) and may only be invested in U.S.
Liquidity and Capital Resources As of June 30, 2025, the Company had approximately $ 1,567,000 in cash.
9 Offering Costs The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A Expenses of Offering.
Financial Accounting Standards Board ( FASB ) FASB ASC 470-20, Debt with Conversion and Other Options, addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components.
During the three and six months ended June 30, 2025, respectively, $ 120,000 and $ 160,000 was charged to operations and no amounts were outstanding at June 30, 2025.
As of June 30, 2025, no such Working Capital Loans were outstanding.
At June 30, 2025, there were no preferred shares issued or outstanding.
18 Note 9 Segment Reporting In November 2023, the FASB issued Accounting Standards Update ( ASU ) 2023-07, Segment Reporting (Topic 280); Improvements to Reportable Segment Disclosure which introduced new annual and interim disclosure requirements for all public companies.