XML 34 R23.htm IDEA: XBRL DOCUMENT v3.24.2.u1
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN (Details)
6 Months Ended 12 Months Ended
Jul. 24, 2024
USD ($)
Feb. 17, 2024
USD ($)
Dec. 28, 2023
USD ($)
$ / shares
Dec. 26, 2023
USD ($)
shares
Dec. 20, 2023
USD ($)
item
$ / shares
shares
Jul. 07, 2023
$ / shares
shares
Jun. 26, 2023
Apr. 03, 2023
USD ($)
shares
Mar. 24, 2023
USD ($)
$ / shares
shares
Mar. 30, 2022
USD ($)
$ / shares
shares
Mar. 28, 2022
USD ($)
$ / shares
shares
Jun. 30, 2024
USD ($)
item
$ / shares
shares
Dec. 31, 2024
USD ($)
$ / shares
Jun. 25, 2024
USD ($)
May 24, 2024
USD ($)
Apr. 25, 2024
USD ($)
Mar. 25, 2024
USD ($)
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 27, 2023
USD ($)
Mar. 13, 2023
USD ($)
Apr. 12, 2021
$ / shares
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Condition for future business combination number of businesses minimum | item                       1                  
Transaction costs                   $ 3,803,330                      
Underwriting fees                   2,300,000                      
Other offering costs                   $ 1,503,330                      
Cash held outside the Trust Account                       $ 118,349           $ 188,235      
Investments maximum maturity term                       185 days                  
Minimum market value of acquiree to net asset held in Trust Account (as a percent)                     80.00%                    
Minimum post-business combination ownership (as a percent)                     50.00%                    
Price per share | $ / shares                     $ 10.10                    
Common share redemption value                       $ 225,000                  
Common share redemption price (per share) | $ / shares                       $ 0.09                  
Cash held in trust account                       $ 30,643,229           29,718,024      
Minimum net tangible asset upon consummation of business combination                     $ 5,000,001                    
Redemption of shares calculated based on business days prior to consummation of business combination (in days)                     10 days                    
Maximum net interest to pay dissolution expenses                     $ 100,000                    
Cash                       118,349                  
Working capital                       5,854,311                  
Outstanding under working capital loans                       1,474,099           $ 1,392,629      
Initial extension period to consummate a business combination         3 months       3 months                        
Number of subsequent extensions to consummate a business combination         6       6                        
Period for each subsequent extension to consummate a business combination         1 month       1 month                        
Total extension period to consummate a business combination                 9 months                        
GCL Global Limited                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Outstanding under working capital loans                       $ 399,220                  
Class A common stock not subject to redemption                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Common shares, shares outstanding | shares                       3,075,000           3,075,000      
Common share redemption value     $ 100,000                 $ 300,000                  
Common share redemption price (per share) | $ / shares     $ 0.04                 $ 0.12                  
Class A Common Stock                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Aggregate redemption amount       $ 14,619,421       $ 76,054,240                          
Number of shares redeemed | shares         1,363,378     76,054,240 7,391,973                        
Common shares, shares outstanding | shares       5,819,649       4,108,027       3,075,000                  
Price per share | $ / shares                       $ 9.20                  
Common share redemption price (per share) | $ / shares         $ 10.72       $ 10.29                        
Number of shares issued | shares           2,875,000                              
Common stock, par value, (per share) | $ / shares           $ 0.0001           $ 0.0001           $ 0.0001     $ 0.0001
Class A Common Stock | Board of Directors Chairman                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Combination on a one-for-one basis             1                            
Class B Common Stock                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Common shares, shares outstanding | shares                       0           0      
Number of shares issued | shares           2,875,000                              
Common stock, par value, (per share) | $ / shares           $ 0.0001           $ 0.0001           $ 0.0001      
Subsequent events                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Business combination deadline $ 75,000                                        
Subsequent events | Class A common stock not subject to redemption                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Common share redemption value                         $ 75,000                
Common share redemption price (per share) | $ / shares                         $ 0.03                
Director Promissory Note | Director | Melvin Xeng Thou Ong                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Interest rate   0.00%                                      
Maximum borrowing capacity of related party promissory note   $ 2,000,000                                      
Sponsor                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Maximum borrowing capacity of related party promissory note                       $ 300,000                  
Payment from the sponsor                       25,000                  
Outstanding under working capital loans                       1,474,099           $ 1,392,629      
Sponsor | Director Promissory Note | Melvin Xeng Thou Ong                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Maximum borrowing capacity of related party promissory note                                       $ 600,000  
RF Dynamic LLC | Class B Common Stock                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Combination on a one-for-one basis             1                            
Related Party Loans                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Outstanding under working capital loans                       $ 0                  
Promissory note - extension one | Sponsor                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Principal sum       $ 675,000                                  
Promissory note - extension two | Sponsor                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Principal sum                                     $ 225,000    
Maximum borrowing capacity of related party promissory note       $ 675,000                                  
Cash held in trust account                           $ 75,000 $ 75,000 $ 75,000 $ 75,000        
Promissory note - extension two | Sponsor | Subsequent events                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Cash held in trust account $ 75,000                                        
Private Placement Warrants | Early Bird Capital                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Sale of private placement units (in shares) | shares                   49,500                      
Price of warrant | $ / shares                   $ 1.00                      
Proceeds from sale of Private Placement Warrants                   $ 49,500                      
Minimum                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Tangible asset net         $ 5,000,000                                
IPO                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Number of units issued | shares                   11,500,000 10,000,000                    
Price per unit | $ / shares                   $ 10.00 $ 10.00                    
Proceeds from issuance of units                     $ 100,000,000                    
Underwriting fees                   $ 2,300,000                      
Proceeds from initial public offering                   $ 116,150,000                      
Private Placement                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Sale of private placement units (in shares) | shares                     4,550,000                    
Price of warrant | $ / shares                     $ 1.00                    
Proceeds from sale of Private Placement Warrants                     $ 4,550,000                    
Private Placement | Sponsor                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Sale of private placement units (in shares) | shares                   400,500 4,050,000                    
Price of warrant | $ / shares                   $ 1.00 $ 1.00                    
Proceeds from sale of Private Placement Warrants                   $ 400,500 $ 4,050,000                    
Private Placement | Early Bird Capital                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Sale of private placement units (in shares) | shares                   49,500 500,000                    
Price of warrant | $ / shares                   $ 1.00 $ 1.00                    
Proceeds from sale of Private Placement Warrants                   $ 49,500 $ 500,000                    
Over Allotment                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Number of units issued | shares                   1,500,000                      
Price per unit | $ / shares                   $ 10.00                      
Proceeds from issuance of units                   $ 15,000,000                      
Over Allotment | Private Placement Warrants                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Sale of private placement units (in shares) | shares                   400,500                      
Price of warrant | $ / shares                   $ 1.00                      
Proceeds from sale of Private Placement Warrants                   $ 400,500                      
Public Share                                          
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN                                          
Price per share | $ / shares                     $ 10.10                    
Minimum percentage of shares requiring prior consent by entity                     15                    
Public shares to be redeemed if business combination is not completed (as a percent)                     100.00%