v3.25.3
Condensed Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash $ 712,349
Prepaid expenses 21,891
Prepaid insurance 90,000
Total Current Assets 835,935
Non-current Assets    
Long-term prepaid insurance 67,500
Deferred offering costs 362,828
Marketable securities held in the Trust Account 464,765,664
Total Assets 465,669,099 362,828
Current liabilities:    
Accrued offering costs 75,000 362,828
Accrued expenses 47,050 31,791
Total Current Liabilities 122,050 394,619
Non-current Liabilities:    
Deferred legal fees 815,072
Deferred underwriting fee payable 17,100,000
Total Liabilities 18,037,122 394,619
Commitments and Contingencies (Note 7)
Shareholders’ Deficit:    
Preference shares, $0.0001 par value; 1,000,000 shares authorized; 0 shares issued or outstanding
Additional paid-in capital 24,177
Accumulated deficit (16,134,931) (57,191)
Total Shareholders’ Deficit (16,133,687) (31,791)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit 465,669,099 362,828
Class A Ordinary Shares    
Non-current Liabilities:    
Class A ordinary shares subject to possible redemption, 46,000,000 and 0 shares at a redemption value of $10.08 and $0.00 per share at September 30, 2025 and December 31, 2024, respectively 463,765,664
Shareholders’ Deficit:    
Ordinary shares, value [1] 95 16
Class B Ordinary Shares    
Shareholders’ Deficit:    
Ordinary shares, value [2] 1,149 1,207
Related Party    
Current assets    
Due from related Party $ 11,695
[1] On November 26, 2024, the Company issued 40,000 Class A ordinary shares to each of its non-executive director nominees (160,000 Class A ordinary shares in total) in connection with their nomination as a director of the Company. These issuances were made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act (Note 7).
[2] Excludes 575,000 Class B ordinary shares forfeited by the Company’s Sponsor (Note 7). On July 1, 2025, the Company issued an additional 2,012,500 Class B ordinary shares to the Sponsor in a share recapitalization, resulting in the total Class B ordinary shares outstanding increasing to 12,075,000. All share and per share amounts have been retrospectively restated (Note 4). On July 3, 2025, the underwriters partially exercised their over-allotment option. As a result of the partial exercise of the over-allotment option by the underwriters, 1,000,000 Founder Shares were no longer subject to forfeiture at such time. The remaining 575,000 Founder Shares were forfeited on August 17, 2025, the expiration date of the over-allotment option, as the over-allotment option remained unexercised, resulting in the total Class B ordinary shares outstanding decreasing to 11,500,000 (Note 4).