−Removed: Factors that could cause our actual results to
−Removed: differ materially from those in this Quarterly Report include the risk factors described in our Annual Report on Form 10-K for the year
−Removed: ended December 31, 2025, as filed with the SEC on March 13, 2026.
−Removed: As of the date of this Quarterly Report, there have been no material
−Removed: changes to the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC.
+Added: Except as set forth below, there have been no
+Added: material changes from the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, as
+Added: filed with the SEC on March 13, 2026.
+Added: The termination of the PAD Business Combination
+Added: Agreement may adversely affect our ability to complete an initial business combination within the required time period.
+Added: On July 16, 2026, the PAD Business Combination
+Added: Agreement was terminated.
+Added: As a result, we must identify, negotiate and complete an alternative initial business combination by November
+Added: 27, 2026, unless the period within which we must complete an initial business combination is extended pursuant to our Amended and Restated
+Added: Memorandum and Articles of Association.
+Added: We may not have sufficient time or resources to identify a suitable alternative target, negotiate
+Added: definitive agreements, complete required due diligence, obtain necessary regulatory and shareholder approvals and consummate an alternative
+Added: initial business combination before the applicable deadline.
+Added: The termination of the PAD Business Combination
+Added: Agreement may also result in additional legal, accounting, financial advisory and other expenses without any corresponding benefit.
+Added: addition, prospective target businesses may perceive the limited time remaining before our liquidation deadline as reducing our negotiating
+Added: We may not be able to identify, research, negotiate and agree to terms with, and/or arrange for new sources of financing for
+Added: a business combination with, a new prospective target business within 24 months from the closing of our initial public offering or during
+Added: any Extension Period, in which case we would cease all operations except for the purpose of winding up and we would redeem our public
+Added: shares and liquidate.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.