Fair Value Measurement

3 Months Ended

Mar. 31, 2026

Fair Value Measurement [Abstract]

FAIR VALUE MEASUREMENT

NOTE 8—FAIR VALUE MEASUREMENT

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2026 by level within the fair value hierarchy:

	Level 1		Level 2		Level 3
Assets:
Marketable securities held in Trust Account	$	205,815,112	$	—	$	—

The Public Warrants were valued using a Monte Carlo simulation in a risk-neutral framework (a special case of the Income Approach). The value of the Public Warrants as of the IPO date was $3,724,648 or $0.37 per warrant. The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants as of the Initial Public Offering date using level 3 inputs:

	July 18, 2025
Market price of public stock	$	9.81
Term (years)		6.50
Risk-free rate		3.77	%
Dividend yield		0.00	%
Volatility		9.11	%
Probability of merger		25.00	%