Initial Public Offering

12 Months Ended

Dec. 31, 2024

Initial Public Offering [Abstract]

INITIAL PUBLIC OFFERING

NOTE 3. INITIAL PUBLIC OFFERING

On May 2, 2022, the Company consummated its Initial Public Offering of 7,875,000 Units, including 375,000 Option Units that were issued pursuant to the partial exercise of the Over-Allotment Option. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $78,750,000.

Each Unit consists of one Class A Ordinary Share, one-half of one Public Warrant and one Right. Each Public Warrant entitles the holder thereof to purchase one Class A Ordinary Shares for $11.50 per share, subject to certain adjustments. Each Right entitles the holder to receive one-tenth of one Class A Ordinary Share upon consummation of the initial Business Combination (see Note 7).

All of the 7,875,000 Public Shares sold as part of the Units in the Initial Public Offering contain a redemption feature that allows for the redemption of such Public Shares if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Amended and Restated Articles, or in connection with the Company’s liquidation. In accordance with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in FASB ASC Topic 480-10-S99, “Distinguishing Liabilities from Equity”, redemption provisions not solely within the control of the Company require Ordinary Shares subject to redemption to be classified outside of permanent equity.

As of December 31, 2024 and 2023, the Class A Ordinary Shares reflected on the accompanying audited consolidated balance sheets are reconciled in the following table.

	As of December 31, 2024			As of December 31, 2023
Gross proceeds	$	78,750,000		$	78,750,000
Less:
Proceeds allocated to Public Warrants and Rights		(6,898,500	)		(6,898,500	)
Offering costs of Public Shares		(4,647,702	)		(4,647,702	)
Redemption of Public Shares		(56,537,577	)		(55,265,334	)
Plus:
Accretion of carrying value to redemption value		17,414,864			15,969,750
Monthly extension fees		1,300,000			600,000
Ordinary Shares subject to possible redemption	$	29,381,085		$	28,508,214