v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE MEASUREMENTS  
Schedule of quantitative information regarding market assumptions used in the valuation of the public warrants

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September 5, 2025

 

Underlying stock price

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$

9.92

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Exercise price

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$

11.50

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Volatility

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4.0

%

Remaining term (years)

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7.01

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Risk-free rate

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3.73

%

Black-Scholes value

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$

1.14

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Pre-adjusted value per share

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$

1.14

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Implied market value adjustment

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21.20

%

Schedule of assets that are measured at fair value on a recurring basis

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Description

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Level

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March 31, 2026

Assets:

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Investments held in Trust Account – U.S. Treasury Securities Money Market Fund

 

1

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$

234,715,684

Liability:

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Subscription agreement liability

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3

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$

425,184,274

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Description

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Level

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December 31, 2025

Assets:

 

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Investments held in Trust Account – U.S. Treasury Securities Money Market Fund

 

1

​

$

232,809,646

Schedule of subscription agreement liability

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March 31, 

 

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2026

 

Underlying stock price

​

$

10.00

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Term (years)

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5.00

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Risk-free rate

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3.85

%

Volatility

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89.7

%

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March 31,

 

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2026

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Underlying stock price

​

$

10.00

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Term (years)

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10.00

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Risk-free rate

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4.21

%

Volatility

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78.4

%

Dividend rate

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12.00

%

Schedule of Fair value measurements

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Subscription Agreement 

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Liability

Fair value of warrants as of March 31, 2026

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$

98,629,981

Fair value of series A preferred shares as of March 31, 2026

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326,554,293

Total fair value as of March 31, 2026

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$

425,184,274

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