Shareholders’ Deficit

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Shareholders’ Deficit

Note 8—Shareholders’ Deficit

Ordinary Shares:

The authorized ordinary shares of the Company include 200,000,000 Class A Ordinary Shares, par value $0.0001, and 20,000,000 Class B Ordinary Shares, par value $0.0001, or 220,000,000 Ordinary Shares in total. Upon completion of the Public Offering, the Company may (depending on the terms of the business combination) be required to increase the authorized number of shares at the same time as its shareholders vote on the business combination to the extent the Company seeks shareholder approval in connection with its business combination. Holders of Class A Ordinary Shares and Class B Ordinary Shares vote together as a single class and are entitled to one vote for each Class A Ordinary Share and Class B Ordinary Share.

In connection with the Extension, a total of 167 holders of Class A Ordinary Shares elected to redeem an aggregate of 17,910,004 Class A Ordinary Shares, representing approximately 89.55% of the Class A Ordinary Shares then issued and outstanding, for an aggregate of approximately $187,475,000 in cash, which was paid on or around April 21, 2023.

On November 22, 2023 the Company issued an aggregate of 1,300,000 Class A Ordinary Shares to the Former Sponsor upon the Conversion. The 1,300,000 Class A Ordinary Shares issued in connection with the Conversion are subject to the same restrictions as applied to the Class B Ordinary Shares before the Conversion, including, among other things, certain transfer restrictions, waiver of redemption rights and the obligation to vote in favor of an initial business combination and such shares are not entitled to liquidating distributions from the trust account if the Company does not consummate an initial business combination.

As of both June 30, 2024 and December 31, 2023 there were 3,700,000 Class B Ordinary Shares issued and outstanding and 1,300,000 Class A Ordinary Shares issued and outstanding (excluding 2,089,996 Class A Ordinary Shares at both dates that were subject to possible redemption).

Preferred Shares:

The Company is authorized to issue 1,000,000 preferred shares, par value $0.0001, with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. As of June 30, 2024 and December 31, 2023, there were no preferred shares issued or outstanding.