SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Class A Ordinary Shares subject to Possible Redemption

At June 30, 2024 and December 31, 2023, the Class A ordinary shares reflected in the balance sheets is reconciled in the following table:

	Number of Shares			Amount
Balance, December 31, 2022		34,500,000		$	350,168,339
Redemption of 24,301,795 Class A ordinary shares		(24,301,795	)		(255,934,080	)
Remeasurement adjustment of carrying value to redemption value		-			14,666,790
Balance, December 31, 2023		10,198,205		$	108,901,049
Redemption of 6,669,512 Class A ordinary shares		(6,669,512	)		(72,177,170	)
Remeasurement adjustment of carrying value to redemption value		-			2,061,196
Balance, June 30, 2024		3,528,693		$	38,785,075

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 three months ended June 30, 2024:

	For the Three Months Ended June 30, 2024
Net income	$	1,033,595
Accretion of temporary equity to redemption value		(874,154	)
Net income including accretion of temporary equity to redemption value	$	159,441

	For the Three Months Ended June 30, 2024
	Class A Redeemable		Class A Non-Redeemable		Class B Non-Redeemable
Basic and diluted net income per share:
Numerator:
Allocation of net income including accretion of temporary equity	$	62,139	$	76,855	$	20,447
Allocation of accretion of temporary equity to Class A Ordinary shares		874,154		—		—
Allocation of net income	$	936,293	$	76,855	$	20,447
Denominator:
Weighted-average shares outstanding		5,508,039		6,812,500		1,812,500
Basic and diluted net income per ordinary share	$	0.17	$	0.01	$	0.01

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts) for the six months ended June 30, 2024:

	For the Six Months Ended June 30, 2024
Net income	$	1,581,132
Accretion of temporary equity to redemption value		(2,061,196	)
Net loss including accretion of temporary equity to redemption value	$	(480,064	)

	For the Six Months Ended June 30, 2024
	Class A Redeemable			Class A Non-Redeemable			Class B Non-Redeemable
Basic and diluted net income per share:
Numerator:
Allocation of net loss including accretion of temporary equity	$	(208,060	)	$	(214,844	)	$	(57,160	)
Allocation of accretion of temporary equity to Class A Ordinary shares		2,061,196			—			—
Allocation of net income (loss)	$	1,853,136		$	(214,844	)	$	(57,160	)
Denominator:
Weighted-average shares outstanding		6,597,386			6,812,500			1,812,500
Basic and diluted net income (loss) per ordinary share	$	0.28		$	(0.03	)	$	(0.03	)

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts) for the three months ended June 30, 2023:

	For the Three Months Ended June 30, 2023
Net income	$	5,785,375
Accretion of temporary equity to redemption value		(4,138,987	)
Net income including accretion of temporary equity to redemption value	$	1,646,388

	For the Three Months Ended
	June 30, 2023
	Redeemable		Non-Redeemable
Basic and diluted net income per share:
Numerator:
Allocation of net income including accretion of temporary equity	$	1,317,110	$	329,278
Allocation of accretion of temporary equity to Class A Ordinary shares		4,138,987		—
Allocation of net income	$	5,456,097	$	329,278
Denominator:
Weighted-average shares outstanding		34,500,000		8,625,000
Basic and diluted net income per ordinary share	$	0.16	$	0.04

The following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts) for the six months ended June 30, 2023:

	For the Six Months Ended June 30, 2023
Net income	$	8,586,458
Accretion of temporary equity to redemption value		(7,906,500	)
Net loss including accretion of temporary equity to redemption value	$	679,958

	For the Six Months Ended
	June 30, 2023
	Redeemable		Non-Redeemable
Basic and diluted net income per share:
Numerator:
Allocation of net income including accretion of temporary equity	$	543,966	$	135,992
Allocation of accretion of temporary equity to Class A Ordinary shares		7,906,500		—
Allocation of net income	$	8,450,466	$	135,992
Denominator:
Weighted-average shares outstanding		34,500,000		8,625,000
Basic and diluted net income per ordinary share	$	0.24	$	0.02