v3.25.4
Significant Accounting Policies (Tables)
6 Months Ended 9 Months Ended
Dec. 31, 2024
Sep. 30, 2025
Significant Accounting Policies [Abstract]    
Schedule of Valuation of The Public Rights The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Rights:
 

November 4,
2024

Underlying share price

 

$

9.95

 

Pre-adjusted value per share right

 

$

1.00

 

Market adjustment(1)

 

 

3.0

%

Fair value per share right

 

$

0.03

 

(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 warrant prices to simulated model outputs.

The following table presents the quantitative information regarding market assumptions used in the level 3 valuation of the Public Rights:
 

November 4,
2024

Underlying share price

 

$

9.95

 

Pre-adjusted value per share right

 

$

1.00

 

Market adjustment(1)

 

 

3.0

%

Fair value per share right

 

$

0.03

 

(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 rights prices to simulated model outputs.

Schedule of Class A Ordinary Share Subject To Possible Redemption As of December 31, 2024, the Class A ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

Gross proceeds

 

$

250,000,000

 

Less:

 

 

 

 

Proceeds allocated to Public Rights

 

 

(750,000

)

Class A ordinary shares issuance costs

 

 

(11,358,489

)

Plus:

 

 

 

 

Remeasurement of carrying value to redemption value

 

 

13,864,687

 

Class A ordinary shares subject to possible redemption, December 31, 2024

 

$

251,756,198

 

As of September 30, 2025 and December 31, 2024, the Class A ordinary shares subject to possible redemption reflected in the condensed consolidated balance sheets are reconciled in the following table:

Gross proceeds

 

$

250,000,000

 

Less:

 

 

 

 

Proceeds allocated to Public Rights

 

 

(750,000

)

Class A ordinary shares issuance costs

 

 

(11,358,489

)

Plus:

 

 

 

 

Remeasurement of carrying value to redemption value

 

 

13,864,687

 

Class A ordinary shares subject to possible redemption, December 31, 2024

 

 

251,756,198

 

Plus:

 

 

 

 

Remeasurement of carrying value to redemption value

 

 

2,636,302

 

Class A ordinary shares subject to possible redemption, March 31, 2025

 

 

254,392,500

 

Plus:

 

 

 

 

Remeasurement of carrying value to redemption value

 

 

2,652,210

 

Class A ordinary shares subject to possible redemption, June 30, 2025

 

 

257,044,710

 

Plus:

 

 

 

 

Remeasurement of carrying value to redemption value

 

 

2,685,470

 

Class A ordinary shares subject to possible redemption, September 30, 2025

 

$

259,730,180

 

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 Period from
June 24, 2024
(Inception) Through
December 31, 2024

   

Class A

 

Class B

Basic and diluted net income per share of common stock:

 

 

   

 

 

Numerator:

 

 

   

 

 

Allocation of net income

 

$

721,840

 

$

797,823

Denominator:

 

 

   

 

 

Weighted-average shares outstanding

 

 

7,500,000

 

 

8,289,473

Basic and diluted net income per common stock

 

$

0.10

 

$

0.10

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

 

For the Three Months Ended
September 30,

 

For the Nine Months
Ended
September 30,

 

For the Period from
June 24, 2024
(Inception) Through
September 30,

   

2025

 

2024

 

2025

 

2024

   

Class A

 

Class B

 

Class A

 

Class B

 

Class A

 

Class B

 

Class A

 

Class B

Basic and diluted net income (loss) per ordinary share

 

 

   

 

   

 

   

 

 

 

 

 

   

 

   

 

   

 

 

 

Numerator:

 

 

   

 

   

 

   

 

 

 

 

 

   

 

   

 

   

 

 

 

Allocation of net income (loss)

 

$

62,771

 

$

20,923

 

$

—

 

$

(47,447

)

 

$

3,606,942

 

$

1,202,314

 

$

—

 

$

(77,427

)

Denominator:

 

 

   

 

   

 

   

 

 

 

 

 

   

 

   

 

   

 

 

 

Basic and diluted weighted average shares outstanding

 

 

25,000,000

 

 

8,333,333

 

 

—

 

 

8,333,333

 

 

 

25,000,000

 

 

8,333,333

 

 

—

 

 

8,333,333

 

Basic and diluted net income (loss) per ordinary share

 

$

0.00

 

$

0.00

 

$

—

 

$

(0.01

)

 

$

0.14

 

$

0.14

 

$

—

 

$

(0.01

)