Overview

We are a blank check company incorporated in the Cayman Islands on May 22, 2025, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We intend to use the cash derived from the proceeds of our Initial Public Offering and the sale of the Private Placement Units, as well as our shares, debt or a combination of cash, shares and debt to complete our Business Combination.

On September 30, 2025, our registration statement on Form S-1 was declared effective by the U.S. Securities and Exchange Commission. On October 6, 2025, we consummated our Initial Public Offering of 23,000,000 units, including 3,000,000 units issued pursuant to the underwriters’ exercise of the over-allotment option. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, generating gross proceeds of $230,000,000. Simultaneously, we completed a private placement of 660,000 Private Placement Units to our Sponsor and the representative of the underwriters, generating an additional $6,600,000 in gross proceeds.

Results of Operations

We have not engaged in any operations or generated any revenues to date. Our activities have been limited to organizational activities, preparation for the Initial Public Offering, and identifying a target company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination.

For the three months ended June 30, 2026, we had net income of $1,934,271, which consisted of interest earned on marketable securities held in the Trust Account of $2,086,234 and investment income of $7,007, offset by general and administrative costs of $158,970.

For the six months ended June 30, 2026, we had net income of $3,778,200, which consisted of interest earned on marketable securities held in the Trust Account of $4,145,438 and investment income of $15,274, offset by general and administrative costs of $382,512.

For the period from May 22, 2025 (inception) through June 30, 2025, we had a net loss of $12,437, which consisted of formation, general and administrative costs.

Liquidity, Capital Resources and Going Concern

Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of Class B ordinary shares by the initial shareholders and loans from the Sponsor.

Following the Initial Public Offering, the full exercise of the over-allotment option, and the sale of the Private Placement Units, a total of $230,000,000 was placed in the Trust Account. We incurred $13,232,284 in transaction costs, consisting of $4,600,000 of cash underwriting fees, $8,050,000 of deferred underwriting fees, and $582,284 of other offering costs.

As of June 30, 2026, we had $816,510 in cash and $236,249,983 in marketable securities held in the Trust Account. We intend to use the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account, to complete our Business Combination, with the exception of any interest withdrawn to pay taxes.

In connection with our assessment of going concern considerations, management believes that the funds available following the completion of the Initial Public Offering may not be sufficient to sustain operations for a reasonable period of time, which is considered to be at least one year from the date the unaudited condensed financial statements are issued. This raises substantial doubt about our ability to continue as a going concern.

Off-Balance Sheet Financing Arrangements and Contractual Obligations

We have no off-balance sheet financing arrangements and no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities, other than an agreement to pay an affiliate of the Sponsor $20,000 per month for office space, utilities, and administrative support until the completion of our initial Business Combination or our liquidation.

The underwriters are entitled to a cash underwriting discount of 2.00% of the gross proceeds of the Initial Public Offering, or $4,600,000, as well as a deferred underwriting discount of 3.50% of the gross proceeds, or $8,050,000, payable upon the completion of our initial Business Combination.

Critical Accounting Estimates

The preparation of our unaudited condensed financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses during the reporting period. Significant judgments and estimates include the accounting for warrant instruments, Class A ordinary shares subject to redemption, and net income (loss) per redeemable and non-redeemable ordinary share.

In summary, we are a blank check company that has not yet completed a Business Combination. We have generated net income from interest earned on the Trust Account, but have not yet engaged in any operations or generated operating revenues. Our ability to continue as a going concern is dependent on our successful completion of a Business Combination, as the funds from the Initial Public Offering may not be sufficient to sustain our operations for the required period. We will continue to incur significant costs in pursuit of our acquisition plans, and there is no assurance that our plans will be successful.