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Available-for-Sale Debt Securities
 3 Months Ended
Mar. 31, 2026
Available-for-Sale Debt Securities [Abstract]  
Available-for-Sale Debt Securities

Note 6—Available-for-Sale Debt Securities

 

The following tables present the amortized cost, gross unrealized gains (losses), fair value and other information for the available-for-sale debt securities held in the Trust Account:

 

March 31, 2026   Amortized
Cost		     Gross Unrealized
Gains		     Gross Unrealized
Losses		     Fair Value  
U.S. government debt securities(1)(2)   $ 460,699,292     $ 8,805     $ (144,699 )   $ 460,563,398  

 

December 31, 2025   Amortized
Cost		     Gross Unrealized
Gains		     Gross Unrealized
Losses		     Fair Value  
U.S. government debt securities(1)(3)   $ 456,425,803     $ 433,413     $ (148,492 )   $ 456,710,724  

 

(1) Contractual maturities are one year or less.

 

(2) One individual debt security was in a continuous unrealized loss position for less than 12 months and for which no allowance for credit loss has been recorded.

 

(3) No debt securities were in an unrealized loss position.

 

The Company did not recognize the unrealized losses in earnings on its available-for-sale debt securities during the three months ended March 31, 2026, because it was determined that such losses were due to non-credit factors. Additionally, as of March 31, 2026, the Company neither intended to sell nor did it believe that it was more likely than not that it will be required to sell these securities before recovery of their amortized cost basis.

 

The Company did not have any sales of its available-for-sale debt securities during the three months ended March 31, 2026.