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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events  
Subsequent Events

Note 9 — Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date when the financial statements were issued. Based on this review, management identified the following subsequent events that are required disclosures in the financial statements.

 

On October 8, 2024, the Company issued the Sponsor Note in the principal amount of $400,000 to the Sponsor. The proceeds of the Sponsor Notes, which may be drawn down from time to time until the Company consummates its initial Business Combination, will be used for general working capital purposes.

 

On October 23, 2024, an aggregate of $60,000 of the Extension Fee was deposited into the Trust Account for the public shareholders, which enables the Company to extend the period of time it has to consummate its initial Business Combination by one month from October 27, 2024 to November 27, 2024. The payment of the Extension Fee was made by Shenzhen Squirrel pursuant to the Business Combination Agreement. The Company issued a Target Extension Note in the aggregate principal amount of $60,000 to Shenzhen Squirrel in connection with the payment of the Extension Fee on October 24, 2024.