Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Use of Proceeds
On January 9, 2026, the Company consummated the Initial Public Offering of 28,750,000 Units at $10.00 per Unit, generating gross proceeds of $287,500,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 7,750,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant in the Private Placement to the Sponsor and CCM, generating gross proceeds of $7,750,000.
Of the gross proceeds received from the Initial Public Offering and the Private Placement, an aggregate of $287,500,000 was placed in the Trust Account. The proceeds held in the Trust Account may be invested by the trustee only in U.S. government securities with a maturity of 185 days or less or in money market funds investing solely in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. The specific investments in our Trust Account may change from time to time.
We incurred a total of $17,870,483 of transaction costs, consisting of $5,000,000 of cash underwriting fee, $12,250,000 of deferred underwriting fee, and $620,483 of other offering costs.
For a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 7 of this Report. There has been no material change in the planned use of proceeds from our Initial Public Offering and the Private Placement as described in the registration statement for the Company’s Initial Public Offering.
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
None
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