Financial Performance - For the three months ended March 31, 2025, the company reported a net income of $2,214,005, primarily from interest earned on investments held in the Trust Account[131]. - As of March 31, 2025, the company had investments held in the Trust Account amounting to $233,753,876[141]. Initial Public Offering - The company generated gross proceeds of $200,000,000 from the Initial Public Offering of 20,000,000 Units at $10.00 per Unit on December 16, 2024[135]. - Following the Initial Public Offering and the full exercise of the over-allotment option, a total of $231,150,000 was placed in the Trust Account[136]. - The company incurred $5,328,515 in offering expenses, including $4,600,000 in cash underwriting fees[136]. - The company has engaged B. Riley as an advisor for the Business Combination, with a fee of 4.5% of the gross proceeds of the Initial Public Offering upon consummation[149]. Cash and Expenses - The company had cash of $948,498 as of March 31, 2025, used primarily for identifying and evaluating target businesses[142]. - The company expects to continue incurring significant costs in pursuit of its acquisition plans[126]. - The company does not anticipate needing to raise additional funds for operating expenditures for at least the next 12 months[144]. Business Combination Plans - The company may seek to extend the 24-month Combination Period to complete its initial Business Combination[127].

Financial Position - As of September 30, 2024, total assets amounted to $196,421, with total liabilities at $287,162, resulting in a shareholder's deficit of $(90,741)[7] - As of September 30, 2024, the Company had $0 in cash and a working capital deficit of $280,576, raising substantial doubt about its ability to continue as a going concern[36] - The Company had no cash equivalents as of September 30, 2024, indicating a lack of liquidity[45] - There are no off-balance sheet arrangements or long-term liabilities as of September 30, 2024[116] Initial Public Offering (IPO) - The Initial Public Offering generated gross proceeds of $200,000,000 from the sale of 20,000,000 units at $10.00 per unit[21] - The Company completed its Initial Public Offering on December 16, 2024, raising gross proceeds of $200,000,000 from the sale of 20,000,000 Units at $10.00 per Unit[126] - Total funds placed in the Trust Account after the IPO amounted to $201,000,000, with offering expenses of $4,728,515 incurred[111] - The underwriters received a cash underwriting discount of $0.20 per Unit, totaling $4,000,000, paid at the closing of the Initial Public Offering[85] - The underwriters have a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments, which has not been exercised as of the IPO closing date[118] Business Operations - The company has not commenced any operations and all activities relate to its formation and the Initial Public Offering (IPO)[20] - The company has not generated any revenues to date and does not expect to do so until after completing a Business Combination[107] - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and for working capital of the target business[112] - The company has not selected a specific business combination target and has not engaged in substantive discussions regarding potential targets[19] Financial Performance - The company reported a net loss of $(90,741) for the period from July 25, 2024, through September 30, 2024, with a basic and diluted net loss per share of $(0.01)[10] - The company reported a net loss of $90,741 for the period from July 25, 2024, to September 30, 2024, due to formation and operating costs[108] - The Company incurred significant costs in pursuit of its acquisition plans, with no assurance that its plans to raise capital will be successful[36] - The financial statements do not include adjustments that might result from the uncertainty regarding the Company's ability to continue as a going concern[36] Share Capital and Securities - The Company issued 7,666,667 Class B ordinary shares, resulting in additional paid-in capital of $24,233[13] - The Company has authorized a total of 500,000,000 Class A ordinary shares, with none issued or outstanding as of September 30, 2024[90] - The Company has authorized a total of 5,000,000 preference shares, with none issued or outstanding as of September 30, 2024[90] - The Company issued an aggregate of 7,666,667 Class B ordinary shares to the Sponsor for $25,000, approximately $0.003 per share[75] - The Company issued 7,385,000 Private Placement Warrants at $1.00 per warrant, with an exercise price of $11.50 per share[69] - An additional 7,385,000 Private Placement Warrants were sold at $1.00 per warrant, generating gross proceeds of $7,385,000[99] - The Company may redeem outstanding warrants at $0.01 per warrant if the Class A ordinary shares' closing price equals or exceeds $18.00 for any 20 trading days within a 30-trading day period[65] - The Company may adjust the exercise price of the warrants if additional Class A ordinary shares are issued at a price less than $9.20[68] Corporate Governance and Compliance - The Company is classified as an "emerging growth company" and has opted not to comply with certain reporting requirements applicable to other public companies[39] - The Company has incurred expenses related to being a public company, including legal and compliance costs[107] - The Company has not recognized any unrecognized tax benefits or accrued interest and penalties related to tax positions as of September 30, 2024[51] - The Company has not issued or outstanding any derivative financial instruments as of September 30, 2024[54] - The Company has a commitment to pay the underwriter 4.5% of the gross proceeds of the Initial Public Offering upon consummation of the initial Business Combination[89] Future Plans - The company intends to focus its initial search for a business combination in the cybersecurity, artificial intelligence, or financial technology industries[19] - The company has a completion window of 24 months to finalize its initial business combination, or it will redeem public shares[30] - The company does not anticipate needing to raise additional funds for operating expenses prior to the Business Combination, but may need additional financing for the transaction[115] - The Sponsor agreed to loan the Company up to $300,000 for Initial Public Offering expenses, with $242,512 borrowed as of September 30, 2024[77] - The Company has entered into an agreement to pay $10,000 per month for administrative services, with no amounts outstanding as of September 30, 2024[78]