v3.26.1
SUBSEQUENT EVENTS
9 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 9: SUBSEQUENT EVENTS

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements, other than as disclosed below and in Note 10.

 

Initial Public Offering

 

The registration statement for the Company’s Initial Public Offering was declared effective on May 6, 2026. On May 8, 2026, the Company consummated the Initial Public Offering of 11,000,000 Units including 1,000,000 additional public Units as the underwriters’ over-allotment option was partially exercised, at $10.00 per Unit, generating gross proceeds of $110,000,000 (see Note 3).

 

Simultaneously with the consummation of the Initial Public Offering and the sale of the Units, the Company consummated the Private Placement of 191,750 Private Placement Units to the Sponsor, at a price of $10.00 per Private Placement Unit, generating gross proceeds of $1,917,500 (see Note 4).

 

Underwriting Agreement

 

On May 8, 2026, the underwriters purchased 1,000,000 additional Units through a partial exercise of their over-allotment option, leaving an option to purchase 500,000 additional Units within the prescribed timeframe.

 

In connection with the partial exercise of the over-allotment option, the Company and the underwriters entered into a Letter Agreement, dated as of May 8, 2026, pursuant to which the parties agreed that no incremental underwriting fee would be due and no additional Private Placement Units would be issued in connection with the partial exercise of the over-allotment option.

 

Additionally, the Company issued 40,000 Class A ordinary shares to the underwriters for nominal consideration at the closing of the Initial Public Offering as Representative Shares.

 

See Note 6 for additional information.

 

Administrative Services Agreement

 

The Company entered into an agreement, commencing on the effective date of the Initial Public Offering through the earlier of the Company’s consummation of a Business Combination or its liquidation, whereby the Sponsor will provide office space and administrative and support services for $5,000 per month (see Note 5).

 

Related Party Loans

 

On April 23, 2026, the Company amended the Promissory Note such that the principal under the Promissory Note is payable on the earlier of (i) June 30, 2026 and (ii) the completion of the Initial Public Offering (see Note 5).

 

During the period from April 1, 2026 through May 8, 2026, the Sponsor paid $1,658 on behalf of the Company, resulting in an amount due to the related party of $144,903, which was repaid upon the closing of the Initial Public Offering. As of May 8, 2026, the amount due to the related party was $0. As of May 8, 2026, the amount due from the Sponsor (resulting from overpayment to the Sponsor upon the closing of the Initial Public Offering) was $25,000, which was repaid on May 12, 2026.