XML 31 R20.htm IDEA: XBRL DOCUMENT v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
FAIR VALUE MEASUREMENTS [Abstract]  
Held to Maturity Securities
At June 30, 2026, $230,667,927 was invested in a U.S. Treasury Securities at fair value of $232,245,596 and an amortized cost of $232,245,088 and $684 was held in cash, at an aggregate value of $232,245,772 as reflected on the condensed balance sheets. At December 31, 2025, $227,277,328 was invested in a U.S. Treasury Securities at a fair value of $228,156,305 and an amortized cost of $228,079,176 and $610 was held in cash, at an aggregate value of $228,079,786 as reflected on the condensed balance sheets.
 
                             
Held to Maturity
  Level   Amortized Cost   Unrealized
Gain
  Fair Value
June 30, 2026
                           
U.S. Treasury Securities (Matured on 7/23/26)
    1   $ 232,245,088   $ 508   $ 232,245,596 
 
                             
Held to Maturity
  Level   Amortized Cost   Unrealized
Gain
  Fair Value
December 31, 2025
                           
U.S. Treasury Securities (Matured on 4/23/26)
    1    $ 228,079,176    $ 77,129    $ 228,156,305 
Quantitative Information Regarding Market Assumptions The following table presents the quantitative information regarding market assumptions used in the valuation of the Level 3 Public Rights at issuance:
     
    February 14,
2025
 
Trade price of Unit
    10.00  
Stock price
  $ 9.78  
Market adjustment(1)
    14.9 %
Fair value per right
  $ 0.145  
 
(1)
Market adjustment reflects additional factors not fully captured by low volatility selection, which may include the likelihood of an initial business combination occurring, market perception of lack of available or suitable targets, or possible post-acquisition decline of stock price prior to the beginning of the exercise period. The adjustment is determined by comparing traded right prices to simulated model outputs.