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Fair Value Measurements
 9 Months Ended
Sep. 30, 2025
Fair Value Measurements [Abstract]  
FAIR VALUE MEASUREMENTS

Note 8 – Fair Value Measurements

 

At issuance, the fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities).

 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at September 30, 2025:

 

   September 30,
2025		   Quoted Prices
Active Markets
(Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant Other
Unobservable Inputs
(Level 3)		 
Assets:                
Marketable Securities Held in Trust Account  $242,776,293   $242,776,293   $
       —
   $
       —
 

 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2024:

 

   December 31,
2024		   Quoted Prices
Active Markets
(Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant Other
Unobservable Inputs
(Level 3)		 
Assets:                
Marketable Securities Held in Trust Account  $235,322,812   $235,322,812   $
       —
   $
       —
 

The Public Warrants were valued using a Monte Carlo model. The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:

 

   July 11,
2024		 
Calculated Share Price  $9.91 
Weighted-Average Expected Life of Warrants in Years   2.97 
Risk-free rate   4.39%
Pre-Business Combination Annual Volatility   2.0%
Post-Business Combination Annual Volatility   33.0%
Market Pricing Adjustment   19.0%

 

The Founder Shares issued to the directors and director nominees were valued using a Market Approach Methodology. The following table presents the quantitative information regarding market assumptions used in the Founder Shares valuation:

 

   April 18,
2024		 
Discount for probability of failure to complete IPO  $10.0%
Market pricing adjustment   87.0%
Discount for expected forfeiture   15.0%

 

Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. There were no transfers for the three and nine months ended September 30, 2025 or for the period from January 29, 2024 (inception) to December 31, 2024.