XML 32 R21.htm IDEA: XBRL DOCUMENT v3.26.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Quantitative Information Regarding Market Assumptions Used in the Valuation of the Share Rights The following table presents the quantitative information regarding market assumptions used in the valuation of the Rights issued in the Initial Public Offering:
   February 6,
2025
 
Underlying share price  $9.91 
Pre-adjusted value per Right  $0.66 
Market adjustment(1)   15.0%
Fair value per Right  $0.099 

 

(1) Market adjustment reflects additional factors not fully captured by low volatility selection, which may include likelihood of Business Combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of stock price prior to beginning of the exercise period. The adjustment is determined by comparing traded right prices to simulated model outputs. The market adjustment was determined by calibrating traded Rights prices as of the valuation dates.
Schedule of Class A Ordinary Shares Subject to Possible Redemption As of March 31, 2026 and December 31, 2025, the Class A Ordinary Shares subject to possible redemption reflected in the accompanying condensed balance sheets are reconciled in the following table:
Gross proceeds  $287,500,000 
Less:     
Proceeds allocated to Public Rights   (2,846,250)
Class A Ordinary Shares issuance costs   (16,246,285)
Plus:     
Accretion for Class A Ordinary Shares to redemption amount   31,468,694 
Class A Ordinary Shares subject to possible redemption, December 31, 2025   299,876,159 
Plus:     
Accretion for Class A Ordinary Shares to redemption amount   2,636,791 
Class A Ordinary Shares subject to possible redemption, March 31, 2026  $302,512,950 
Schedule of Basic and Diluted Net Income Per Ordinary Share

The following table reflects the calculation of basic and diluted net income per Ordinary Share (in dollars, except per-share amounts):

 

   For the Three Months Ended March 31, 
   2026   2025 
   Class A   Class B   Class A   Class B 
Basic net income per Ordinary Share                
Numerator:                
Allocation of net income, as adjusted  $1,816,939   $586,812   $1,058,209   $543,631 
                     
Denominator:                    
Basic weighted average Ordinary Shares outstanding   29,672,727    9,583,333    17,670,276    9,077,715 
Basic net income per Ordinary Share  $0.06   $0.06   $0.06   $0.06 

 

   For the Three Months Ended March 31, 
   2026   2025 
   Class A   Class B   Class A   Class B 
Diluted net income per Ordinary Share                
Numerator:                
Allocation of net income, as adjusted  $1,816,939   $586,812   $1,038,576   $563,264 
                     
Denominator:                    
Diluted weighted average Ordinary Shares outstanding   29,672,727    9,583,333    17,670,276    9,583,333 
Diluted net income per Ordinary Share  $0.06   $0.06   $0.06   $0.06 

 

(1) The difference between basic and diluted weighted average shares outstanding is due to the timing of the accounting for the Over-Allotment Option for 1,250,000 Class B Ordinary Shares (see Note 5). Basic weighted average shares outstanding reflects the exercise as of the actual date it occurred, whereas diluted weighted average shares outstanding reflects the exercise as if it had occurred at the beginning of the period.