Annual report [Section 13 and 15(d), not S-K Item 405]

Balance Sheets

v3.25.0.1
Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 905,040 $ 1,292,907
Prepaid insurance 198,520 222,270
Prepaid expenses 142,033 22,816
Total Current assets 1,245,593 1,537,993
Long term prepaid insurance 197,912
Marketable securities held in Trust Account 177,634,717 170,856,457
TOTAL ASSETS 178,880,310 172,592,362
Current liabilities    
Accrued expenses 734,555 119,357
Accrued offering costs 85,716
Total Current liabilities 734,555 205,073
Deferred underwriting fee payable 5,950,000 5,950,000
TOTAL LIABILITIES 6,684,555 6,155,073
COMMITMENTS AND CONTINGENCIES (Note 6)
Class A Ordinary Shares subject to possible redemption, 17,000,000 shares at redemption value of $10.45 and $10.00 per share at December 31, 2024 and 2023, respectively 177,634,717 170,000,000
SHAREHOLDERS’ DEFICIT    
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at December 31, 2024 and 2023
Additional paid-in capital
Accumulated deficit (5,439,387) (3,563,136)
TOTAL SHAREHOLDERS’ DEFICIT (5,438,962) (3,562,711)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 178,880,310 172,592,362
Class A Ordinary Shares    
SHAREHOLDERS’ DEFICIT    
Ordinary shares value
Class B Ordinary Shares    
SHAREHOLDERS’ DEFICIT    
Ordinary shares value [1] $ 425 $ 425
[1] On November 20, 2023, the Company effectuated a share capitalization in the form of a share dividend of approximately 0.15384615 fully paid Class B Ordinary Shares for each Class B Ordinary Share in issue, resulting in the Sponsor holding an aggregate of 4,312,500 Class B Ordinary Shares. On November 24, 2023, as a result of the underwriters’ election to partially exercise their over-allotment option, 62,500 Founder Shares were forfeited resulting in the Sponsor holding 4,250,000 Founder Shares (see Note 5).