Idea Acquisition Corp. 10-K

Item 9A. Controls and Procedures. Evaluation of Disclosure Controls and Procedures Disclosure controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such 61 Table of Contents information is accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. As required by Rules 13a-15 and 15d-15 under the Exchange Act, our Chief Executive Officer and Chief Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2025. Based upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were effective, Accordingly, management believes that the financial statements included in this Form 10-K present fairly in all material respects our financial position, results of operations and cash flows for the period presented. Management’s Report on Internal Controls Over Financial Reporting This Annual Report on Form 10-K does not include a report of management’s assessment regarding internal control over financial reporting or an attestation report of our independent registered public accounting firm due to a transition period established by rules of the SEC for newly public companies. Changes in Internal Control over Financial Reporting There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. Item 9B. Other Information N o n e . Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable. Part III Item 10. Directors, Executive Officers and Corporate Governance Our executive officers and directors are as follows: ​ ​ ​ ​ ​ ​ NAME ​ ​ ​ AGE ​ ​ ​ POSITION Trevor Harries-Jones 52 Chief Executive Officer and Director Ryan Shea 24 Chief Operating Officer and Director Nathan Clark 46 Chief Financial Officer Eugene “Rod” Roddenberry Jr. 51 Director Jules Urbach 51 Director Vinny Lingham 46 Director ​ Trevor Harries-Jones , 52, has served as our Chief Executive Officer and on our board of directors since September 2025. Mr. Harries-Jones is an experienced leader, with over 20 years of experience in the SaaS industry. Between May 2008 and March 2012, Mr. Harries-Jones served as the President and Chief Operating Officer at Yola, Inc., a website builder and website hosting company. Between March 2012 and October 2021, he served as its Chief Executive Officer. During his tenure, Mr. Harries-Jones was responsible for the overall management of Yola, Inc. and its operational and strategic goals. Since October 2021, Mr. Harries-Jones has served as the Chief Operating Officer of OTOY Inc., a cloud graphics company servicing the media and entertainment industries. As Chief Operating Officer, Mr. Harries-Jones oversees OTOY Inc.’s daily operations, facilitating the execution of OTOY Inc.’s strategic agenda. Since November 2022, Mr. Harries-Jones has served on the board of Render Network Foundation. Mr. Harries-Jones also served on the board of Yola, Inc. between May 2008 and April 2025. Mr. Harries-Jones is a graduate from the University of Cape Town, a Certified Public Accountant and a member of the South African Institute of Chartered Accountants. We believe Mr. Harries-Jones’ extensive experience in business strategy, corporate finance and the SaaS industry makes him well-qualified to serve on our board of directors. 62 Table of Contents Ryan Shea , 24, has served as our Chief Operating Officer and on our board of directors since September 2025. Early in his career, Mr. Shea gained experience in the blockchain ecosystem through positions at Radar Relay, an acquired decentralized exchange built on Ethereum, where he worked as a Research Analyst between October 2018 and October 2019. Between June 2019 and November 2022, Mr. Shea was Head of Special Projects at Solana Labs, where he focused on business development, product engineering, operations, and community development for the Solana protocol. During his tenure, Mr. Shea was instrumental in scaling the Solana protocol and ecosystem from before its initial launch well into its subsequent expansion. Since December 2022, Mr. Shea has served as Head of Product at Render Network Foundation. The Render Network, a leading decentralized computer network, was created in 2018 on Ethereum. Mr. Shea led Render’s upgrade process from Ethereum to the Solana network, and now is instrumental in its further expansion 138 into the AI market. Since October 2022, Mr. Shea has also served as the Chief Executive Officer of Nation Builders, Inc, a company that develops software tools for cryptocurrency enterprises. Since December 9, 2025, Mr. Shea has served as a member of the board of directors of Meshflow Acquisition Corp., a special purpose acquisition company. Mr. Shea is a graduate of Yale University. We believe Mr. Shea’s comprehensive experience in blockchain technology, demonstrated leadership in scaling technology platforms, and expertise in product development makes him well-qualified to serve on our board of directors. Nathan Clark , 47, has served as our Chief Financial Officer since September 2025. Mr. Clark is an experienced finance professional who has held various leadership roles and is well versed in financial and SEC reporting; budgeting, forecasting and modeling; and auditing, internal control and compliance. Mr. Clark started his career at PricewaterhouseCoopers LLP, working as a Public Accounting associate between September 2001 and July 2004. Between July 2004 and March 2010, Mr. Clark worked at OpenTV (formerly Nasdaq:OPTV), an entertainment technology company, where he worked as Revenue Manager and Director of Finance. Following the acquisition of OpenTV by The Kudelski Group (SIX:KUD.S), he worked at Nagravision, a media and security technology division of the Kudelski Group, between March 2010 and April 2019, as Director of Finance Controlling. Between April 2019 and December 2019, Mr. Clark served as Director of Finance at Ondello Inc., a telehealth company. Mr. Clark then worked as an independent financial and accounting consultant between January 2020 and March 2021, before rejoining Ondello Inc. in March 2021 as Head of Finance. Mr. Clark is a graduate of the University of California, Santa Cruz and a Certified Public Accountant. Eugene “Rod” Roddenberry Jr. , 51, has served on our board of directors since February 10, 2026. Mr. Roddenberry has served as Chief Executive Officer of Roddenberry Entertainment, an entertainment production company, since 2001. In this capacity, Mr. Roddenberry oversees the development and production of multimedia science fiction properties spanning television, film, publishing, and digital media. Mr. Roddenberry is also an executive producer on multiple Star Trek television series, including Star Trek: Discovery, Star Trek: Picard, Star Trek: Strange New Worlds, Star Trek: Lower Decks, Star Trek: Prodigy, and the upcoming Star Trek: Starfleet Academy. Under Mr. Roddenberry’s leadership, Roddenberry Entertainment has expanded its portfolio to include graphic novels, comics, podcasts, and other media properties. We believe Mr. Roddenberry’s leadership experience and his proven track record in the entertainment industry make him well-qualified to serve on our board of directors. Jules Urbach , 51, has served on our board of directors since February 10, 2026. Mr. Urbach has over 25 years of industry experience in computer graphics, streaming, and 3D rendering. Since May 2010, Mr. Urbach has served as the Chief Executive Officer and the sole director of OTOY Inc., a cloud graphics company servicing the media and entertainment industries. As Chief Executive Officer, Mr. Urbach sets the strategic vision of OTOY Inc. and is the chief architect of its technology roadmap. Mr. Urbach also serves as the Chief Executive Officer of other related enterprises, including LightStage, LLC, OTOY New Zealand Limited, OTOY Netherlands B.V., OTOY International SEZC (where he also serves as the Chairman of the board) and OTOY Entertainment Inc (where he also serves as the sole director). We believe Mr. Urbach’s extensive experience in the computer graphics, streaming and 3D rendering industries makes him well-qualified to serve on our board of directors. Vinny Lingham , 46, has served on our board of directors since February 10, 2026. Mr. Lingham has extensive experience in the cryptocurrency and blockchain industries. Between December 2017 and January 2021, Mr. Lingham served as a General Partner at Multicoin Capital, a firm that invests in cryptocurrencies, tokens and blockchain companies. Since January 2016, Mr. Lingham has served as the Executive Chairman of Civic, an identity management company, which he also co-founded. Since January 2018, Mr. Lingham has served as the Chairman of Identity.com, a nonprofit that provides digital identity solutions for individuals and businesses. In addition, since March 2022, Mr. Lingham has served as the Chairman of Rumi.ai, an AI-driven platform that operates in the virtual meeting space. Mr. Lingham has a degree from the University of South Africa. We believe Mr. Lingham’s comprehensive experience in cryptocurrency, blockchains and decentralized technologies makes him well-qualified to serve on our board of directors. 63 Table of Contents Number and Terms of Office of Officers and Directors Our board of directors consists of five members and is divided into three classes with only one class of directors being appointed in each year, and with each class (except for those directors appointed prior to our first annual general meeting) serving a three-year term. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal year end following our listing on Nasdaq. The term of office of the first class of directors, consisting of Jules Urbach and Vinny Lingham, will expire at our first annual general meeting. The term of office of the second class of directors, consisting of Eugene “Rod” Roddenberry Jr., will expire at the second annual general meeting. The term of office of the third class of directors, consisting of Trevor Harries-Jones and Ryan Shea, will expire at the third annual general meeting. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint officers as it deems appropriate pursuant to our amended and restated memorandum and articles of association. Director Independence The rules of Nasdaq require that a majority of our board of directors be independent within one year of our initial public offering. An “independent director” is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Our board of directors has determined that each of Eugene “Rod” Roddenberry, Jules Urbach, and Vinny Lingham is an “independent director” as defined in Nasdaq listing standards and applicable SEC rules. Our independent directors have regularly scheduled meetings at which only independent directors are present. Committees of the Board of Directors Our board of directors has two standing committees: an audit committee and a compensation committee. Each of our audit committee and our compensation committee is composed solely of independent directors. Subject to phase-in rules, the rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors, and the rules of Nasdaq require that the compensation committee of a listed company be comprised solely of independent directors. Each committee operates under a charter that was approved by our board of directors and has the composition and responsibilities described below. The charter of each committee will be available on our website, to the extent we maintain one. Audit Committee The members of our audit committee are Jules Urbach, Vinny Lingham and Eugene “Rod” Roddenberry Jr. Under Nasdaq listing standards and applicable SEC rules, we are required to have at least three members of the audit committee, all of whom must be independent. Each of Jules Urbach, Vinny Lingham and Eugene “Rod” Roddenberry Jr. meets the independent director standard under Nasdaq listing standards and under Rule 10-A-3(b)(1) of the Exchange Act. Jules Urbach serves as chair of the audit committee. Each member of the audit committee is financially literate and our board of directors has determined that Jules Urbach qualifies as an “audit committee financial expert” as defined in applicable SEC rules and has accounting or related financial management expertise. We have adopted an audit committee charter, which details the principal functions of the audit committee, including: ● assisting board oversight of (1) the integrity of our financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent registered public accounting firm’s qualifications and independence, and (4) the performance of our internal audit function and independent registered public accounting firm; the appointment, compensation, retention, replacement, and oversight of the work of the independent registered public accounting firm and any other independent registered public accounting firm engaged by us; ● setting clear policies for audit partner rotation in compliance with applicable laws and regulations; obtaining and reviewing a report, at least annually, from the independent registered public accounting firm describing (1) the independent registered public accounting firm’s internal quality-control procedures and (2) any material issues raised by the most recent internal quality-control review, or peer review, of the independent registered public accounting firm, or by any inquiry or 64 Table of Contents investigation by governmental or professional authorities, within the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; ● meeting to review and discuss our annual audited financial statements and quarterly financial statements with management and the independent registered public accounting firm, including reviewing our specific disclosures under “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ”; reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and ● reviewing with management, the independent registered public accounting firm, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. Compensation Committee The members of our compensation committee are Vinny Lingham and Eugene “Rod” Roddenberry Jr. Under Nasdaq listing standards and applicable SEC rules, we are required to have at least two members of the compensation committee, all of whom must be independent. Each of Vinny Lingham and Eugene “Rod” Roddenberry Jr. is independent. Eugene “Rod” Roddenberry Jr. chairs the compensation committee. We have adopted a compensation committee charter, which details the principal functions of the compensation committee, including: ● reviewing and approving on an annual basis the corporate goals and objectives relevant to our chief executive officer’s compensation, evaluating our chief executive officer’s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our chief executive officer based on such evaluation; ● reviewing and making recommendations to our board of directors with respect to the compensation, and any incentive compensation and equity based plans that are subject to board approval of all of our other officers; ● reviewing our executive compensation policies and plans; ● implementing and administering our incentive compensation equity-based remuneration plans; ● assisting management in complying with our proxy statement and annual report disclosure requirements; ● approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and employees; ● producing a report on executive compensation to be included in our annual proxy statement; and ● reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors. Notwithstanding the foregoing, other than the payment of up to $20,000 per month to our Sponsor during the Completion for office space, secretarial and administrative services and reimbursement of expenses, no compensation of any kind, including finders, consulting or other similar fees, will be paid to any of our existing shareholders, officers, directors or any of their respective affiliates, prior to, or for any services they render in order to effectuate the consummation of an initial Business Combination. Accordingly, it is likely that prior to the consummation of an initial Business Combination, the compensation committee will only be responsible for the review and recommendation of any compensation arrangements to be entered into in connection with such initial Business Combination. The compensation committee charter also provides that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, independent legal counsel or other adviser and is directly responsible for the appointment, 65 Table of Contents compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required by Nasdaq and the SEC. Director Nominations We do not have a standing nominating committee though we intend to form a corporate governance and nominating committee as and when required to do so by law or Nasdaq rules. In accordance with Rule 5605(e) of the Nasdaq rules, a majority of the independent directors may recommend a director nominee for selection by our board of directors. Our board of directors believes that our independent directors can satisfactorily carry out the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee. The directors who participate in the consideration and recommendation of director nominees are Jules Urbach, Vinny Lingham and Eugene “Rod” Roddenberry Jr. In accordance with Rule 5605 of the Nasdaq rules, all such directors are independent. As there is no standing nominating committee, we do not have a nominating committee charter in place. The board of directors will also consider director candidates recommended for nomination by our shareholders during such times as they are seeking proposed nominees to stand for appointment at the next annual general meeting (or, if applicable, an extraordinary general meeting). Our shareholders that wish to nominate a director for appointment to our board of directors should follow the procedures set forth in our amended and restated memorandum and articles of association. We have not formally established any specific, minimum qualifications that must be met or skills that are necessary for directors to possess. In general, in identifying and evaluating nominees for director, the board of directors considers educational background, diversity of professional experience, knowledge of our business, integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our shareholders. Prior to our initial business combination, holders of our public shares will not have the right to recommend director candidates for nomination to our board of directors. Compensation Committee Interlocks and Insider Participation None of our officers currently serves, or in the past year has served, as a member of the compensation committee of any entity that has one or more officers serving on our board of directors. Code of Business Conduct and Ethics, Insider Trading Policy and Committee Charters We have adopted a Code of Ethics applicable to our directors, officers and employees. We have filed a copy of our Code of Ethics as an exhibit to this Form 10-K. You are able to review this document by accessing our public filings at the SEC’s web site at www.sec.gov . In addition, a copy of the Code of Ethics and the charters of the committees of our board of directors can be provided without charge upon request from us. If we make any amendments to our Code of Ethics other than technical, administrative or other non-substantive amendments, or grant any waiver, including any implicit waiver, from a provision of the Code of Ethics applicable to our principal executive officer, principal financial officer principal accounting officer or controller or persons performing similar functions requiring disclosure under applicable SEC or Nasdaq rules, we will disclose the nature of such amendment or waiver on our website, to the extent we maintain one. The information to be included on our website, to the extent we maintain one, will not be incorporated by reference into this Form 10-K or in any other report or document we file with the SEC, and any references to our website, to the extent we maintain one, are intended to be inactive textual references only. We have also adopted a policy regarding insider training and dissemination of inside information (the “Insider Trading Policy”) governing the purchase, sale, and other disposition of our securities by our directors, officers, and employees as well as by the Company that we believe is reasonably designed to promote compliance with insider trading laws, rules, and regulations and listing standards applicable to the Company. A copy of our Insider Trading Policy is filed as Exhibit 19 to this Form 10-K. Limitation on Liability and Indemnification of Officers and Directors Cayman Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association provide for indemnification of our officers and directors to the maximum extent permitted by law, including for any liability incurred in their capacities as such, except through their own actual fraud, 66 Table of Contents willful default or willful neglect. We have purchased a policy of directors’ and officers’ liability insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors. Our officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the Trust Account, and have agreed to waive any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us and will not seek recourse against the Trust Account for any reason whatsoever. Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the Trust Account or (ii) we consummate an initial Business Combination. Our indemnification obligations may discourage shareholders from bringing a lawsuit against our officers or directors for breach of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors, even though such an action, if successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder’s investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors pursuant to these indemnification provisions. We believe that these provisions, the insurance and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors. Item 11. Executive Compensation. None of our executive officers or directors has received any cash compensation for services rendered. We pay our Sponsor up to $20,000 per month for office space, secretarial and administrative services to members of our management team until the consummation of our initial Business Combination. No compensation of any kind, including any finder’s fee, reimbursement, consulting fee or monies in respect of any payment of a loan, will be paid by us to our Sponsor, officers and directors, or any affiliate of theirs, for services rendered prior to, or for any services rendered in order to effectuate, the consummation of our initial Business Combination (regardless of the type of transaction that it is). However, these individuals will be entitled to certain payments including, but not limited to, reimbursement for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee reviews on a quarterly basis all payments that were made to our Sponsor, officers or directors, or our or their affiliates. Any such payments prior to an initial Business Combination will be made using funds held outside the Trust Account. Other than quarterly audit committee review of such payments, we do not expect to have any additional controls in place governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with identifying and consummating an initial Business Combination. After the completion of our initial Business Combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the tender offer materials or proxy solicitation materials furnished to our shareholders in connection with a proposed initial Business Combination. We have not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely the amount of such compensation will be known at the time of the proposed initial Business Combination, because the directors of the post-combination business will be responsible for determining officer and director compensation. Any compensation to be paid to our officers will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial Business Combination, although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to remain with us after our initial Business Combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial Business Combination will be a determining factor in our decision to proceed with any potential Business Combination. We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment. 67 Table of Contents Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters. The following table sets forth information regarding the beneficial ownership of our ordinary shares as of March 31, 2026, by: ● each person known by us to be the beneficial owner of more than 5% of our outstanding ordinary shares; ● each of our officers and directors; and ● all our officers and directors as a group. Unless otherwise indicated, we believe that all persons named in the table below have sole voting and investment power with respect to all ordinary shares beneficially owned by them. The following table does not reflect beneficial ownership of the Public Warrants or Private Placement Warrants as these warrants are not exercisable within 60 days of the date of this Form 10-K. We have based our calculation of the percentage of beneficial ownership on 35,000,000 Class A Ordinary Shares and 8,750,000 Class B Ordinary Shares issued and outstanding as of March 31, 2026. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A ​ ​ ​ Class B ​ ​ ​ ​ ​ ​ ​ ​ Ordinary Shares ​ Ordinary Shares ​ Approximate ​ ​ ​ ​ Number of ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ ​ ​ ​ Percentage of ​ ​ Shares ​ Approximate ​ Shares ​ Approximate ​ Outstanding ​ ​ Beneficially ​ Percentage ​ Beneficially ​ Percentage ​ Ordinary Name and Address of Beneficial Owner (1) ​ Owned ​ of Class ​ Owned (2) ​ of Class ​ Shares Directors and Officers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trevor Harries-Jones (3) — — 8,750,000 100 % 20 % Ryan Shea (3) — — 8,750,000 100 % 20 % Nathan Clark — — — — * ​ Eugene “Rod” Roddenberry Jr. — — — — * ​ Jules Urbach — — — — * ​ Vinny Lingham — — — — * ​ All officers and directors as a group (6 individuals) — — 8,750,000 100 % 20 % Five Percent Holders ​ ​ ​ ​ ​ ​ Idea Tender LLC (3) — — 8,750,000 100 % 20 % * Less than 1% (1) Unless otherwise noted, the business address of each of the following entities or individuals is c/o Idea Acquisition Corp., at 1010 Wilshire Boulevard Suite 1604, Los Angeles, California 9001. (2) Interests shown consist solely of Founder Shares, classified as Class B Ordinary Shares. Such shares will automatically convert into Class A Ordinary Shares concurrently with or immediately following the consummation of our initial Business Combination, or earlier at the option of the holders thereof, on a one-for-one basis, subject to adjustment. (3) Idea Tender LLC is the record holder of the shares reported herein. Trevor Harries-Jones and Ryan Shea are the managing members of Idea Tender LLC and have voting and investment discretion over the securities held by Idea Tender LLC. ​ Item 13. Certain Relationships and Related Transactions, and Director Independence Founder Shares On September 22, 2025, our Sponsor purchased an aggregate of 10,062,500 Founder Shares for an aggregate purchase price of $25,000, or approximately $0.002 per share. On March 27, 2026, the Underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited by our Sponsor to us for cancellation for no consideration. The number of Founder Shares issued was determined based on the expectation that such Founder Shares would represent 20% of the outstanding shares after the IPO. Private Placement Warrants Our Sponsor and the Underwriters purchased an aggregate of 6,000,000 Private Placement Warrants for an aggregate purchase price of $9,000,000, or $1.50 per warrant, in a private placement that occurred simultaneously with the closing of the IPO. Of those 68 Table of Contents 6,000,000 Private Placement Warrants, our Sponsor purchased 3,666,667 Private Placement Warrants, Cantor purchased 1,633,333 Private Placement Warrants and Oden purchased 700,000 Private Placement Warrants. The Private Placement Warrants are identical to the warrants sold as part of the Units in the IPO except that, so long as they are held by our Sponsor, the Underwriters or their respective permitted transferees, (i) may not (including the underlying securities), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial Business Combination, (ii) and are entitled to registration rights, and (iii) with respect to Private Placement Warrants held by the Underwriters and/or their respective designees, are not exercisable more than five years from the commencement of sales in the IPO in accordance with FINRA Rule 5110(g)(8). A portion of the purchase price of the Private Placement Warrants were added to the proceeds from the IPO to be held in the Trust Account such that $350,000,000 is held in the Trust Account. If we do not complete our initial Business Combination within the Completion Window, the Private Placement Warrants will expire worthless. The Private Placement Warrants and Private Placement Warrants are subject to the transfer restrictions described above. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the units being sold in the IPO. Administrative Services and Indemnification Agreement We entered into an Administrative Services and Indemnification Agreement with our Sponsor in connection with the IPO. Pursuant to the terms of that agreement, we agreed to pay our Sponsor up to $20,000 per month during the Completion Window for office space, secretarial and administrative services provided to us and members of our management team. Upon completion of our initial Business Combination or our liquidation, we will cease paying these monthly fees. No compensation of any kind, including finder’s and consulting fees, will be paid by the Company to our Sponsor, executive officers and directors, or any of their respective affiliates, for services rendered prior to or in connection with the completion of an initial Business Combination without shareholder approval. However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable Business Combinations. Our audit committee will review on a quarterly basis all payments that were made to our Sponsor, officers, directors or our or their affiliates. Promissory Note On September 22, 2025 the Sponsor agreed to loan the Company up to $300,000 pursuant to a promissory note (the “Note”). The Note was non-interest bearing, unsecured and due on the earlier of June 30, 2026, or the closing of the IPO. As of December 31, 2025, the Company had borrowed $183,439 under the Note. Borrowings under the promissory note are no longer available. Working Capital Loans In addition, in order to finance transaction costs in connection with an intended initial Business Combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required on a non-interest basis. If we complete an initial Business Combination, we would repay such loaned amounts. In the event that the initial Business Combination does not close, we may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into Private Placement Warrants at a price of $1.50 per warrant, at the option of the lender. The warrants would be identical to the Private Placement Warrants, including as to exercisability and exercise price. Except as set forth above, the terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the completion of our initial Business Combination, we do not expect to seek loans from parties other than our Sponsor or an affiliate of our Sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account. Except for the foregoing, the terms of such working capital loans, if any, have not been determined and no written agreements exist with respect to such loans. As of December 31, 2025, the Company had no borrowings under the working capital loans. Any of the foregoing payments to our Sponsor, repayments of loans from our Sponsor or repayments of working capital loans prior to our initial Business Combination will be made using funds held outside the Trust Account. After our initial Business Combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed to our shareholders, to the extent then known, in the proxy materials or tender offer documents, as applicable, furnished to our shareholders. It is unlikely the amount of such compensation will be known at the time of distribution of such tender offer documents or at the time of a shareholder meeting held 69 Table of Contents to consider our initial Business Combination, as applicable, as it will be up to the directors of the post-Business Combination entity to determine executive and director compensation. Registration Rights Agreement The holders of Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of working capital loans (and any ordinary shares issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the working capital loans), are entitled to registration rights pursuant to a registration rights agreement signed in connection with the IPO. These holders are entitled to certain demand and “piggyback” registration rights. We will bear the expenses incurred in connection with the filing of any such registration statements. Item 14. Principal Accounting Fees and Services. The firm of WithumSmith+Brown, PC (“Withum”), acts as our independent registered public accounting firm. The following is a summary of fees paid to Withum for services rendered. Audit Fees. During the period from September 18, 2025 (inception) through December 31, 2025, fees for our independent registered public accounting firm were approximately $25,480 for the services Withum performed in connection with our Initial Public Offering and the audit of our December 31, 2025 financial statements included in this Form 10-K. Audit-Related Fees. During the period from September 18, 2025 (inception) through December 31, 2025, our independent registered public accounting firm did not render assurance and related services related to the performance of the audit or review of financial statements. Tax Fees. During the period from September 18, 2025 (inception) through December 31, 2025, our independent registered public accounting firm did not render services to us for tax compliance, tax advice and tax planning. All Other Fees. During the period from September 18, 2025 (inception) through December 31, 2025, there were no fees billed for products and services provided by our independent registered public accounting firm other than those set forth above. Pre-Approval Policy Our audit committee was formed upon the consummation of our Initial Public Offering. As a result, the audit committee did not pre-approve all of the foregoing services, although any services rendered prior to the formation of our audit committee were approved by our board of directors. Since the formation of our audit committee, and on a going-forward basis, the audit committee has and will pre-approve all auditing services and permitted non-audit services to be performed for us by our auditors, including the fees and terms thereof (subject to the de minimis exceptions for non-audit services described in the Exchange Act which are approved by the audit committee prior to the completion of the audit). 70 Table of Contents Part IV Item 15 . Exhibits, Financial Statement Schedules (a) The following documents are filed as part of this Form 10-K: (1) Financial Statements: ​ ​ ​ ​ ​ Page Report of Independent Registered Public Accounting Firm ​ F-2 Balance Sheet as of December 31, 2025 ​ F-3 Statement of Operations for the period from September 18, 2025 (Inception) through December 31, 2025 ​ F-4 Statement of Changes in Shareholder’s Deficit for the period from September 18, 2025 (Inception) through December 31, 2025 ​ F-5 Statement of Cash Flows for the period from September 18, 2025 (Inception) through December 31, 2025 ​ F-6 Notes to Financial Statements ​ F-7-F-18 ​ (2) Financial Statement Schedules: None. (3) Exhibits We hereby file as part of this Report the exhibits listed in the attached Exhibit Index. Exhibits which are incorporated herein by reference can be inspected and copied at the public reference facilities maintained by the SEC, 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Copies of such material can also be obtained from the Public Reference Section of the SEC, 100 F Street, N.E., Washington, D.C. 20549, at prescribed rates or on the SEC website at www.sec.gov. ​ 71 Table of Contents Item 15. Exhibit Index ​ ​ ​ Number ​ Description 3.1 ​ Amended and Restated Memorandum and Articles of Incorporation (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 4.1 ​ Specimen Unit Certificate (incorporated by reference to Exhibit 4.1 to Amendment No. 1 to the Registrant’s Registration Statement on Form S-1/A (File No. 333-291010), filed with the SEC on January 6, 2026). 4.2 ​ Specimen Class A Ordinary Shares Certificate (incorporated by reference to Exhibit 4.2 to Amendment No. 1 the Registrant’s Registration Statement on Form S-1/A (File No. 333-291010), filed with the SEC on January 6, 2026). 4.3 ​ Specimen Warrant Certificate (incorporated by reference to Exhibit 4.4 to the Registrant’s Registration Statement on Form S-1 (File No. 333-291010), filed with the SEC on October 22, 2025). 4.4 ​ Warrant Agreement, dated February 10, 2026, by and between the Registrant and Continental Stock Transfer & Trust Company, as warrant agent (incorporated by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 4.5* ​ Description of Securities. 10.1 ​ Letter Agreement, dated February 10, 2026, by and among the Registrant, Idea Tender LLC and each of the executive officers, directors and other initial shareholders of the Registrant (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.2 ​ Investment Management Trust Agreement, dated February 10, 2026, by and between the Registrant and Continental Stock Transfer & Trust Company, as trustee (incorporated by reference to Exhibit 10.2 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.3 ​ Registration Rights Agreement, dated February 10, 2026, by and among the Registrant, Idea Tender LLC and the other holders party thereto (incorporated by reference to Exhibit 10.3 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.4 ​ Private Placement Warrants Purchase Agreement, dated February 10, 2026, by and between the Registrant and Idea Tender LLC (incorporated by reference to Exhibit 10.4 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.5 ​ Private Placement Warrants Purchase Agreement, dated February 10, 2026, by and between the Registrant and Cantor Fitzgerald & Co. (incorporated by reference to Exhibit 10.5 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.6 ​ Private Placement Warrants Purchase Agreement, dated February 10, 2026, by and between the Registrant and Oden Capital Group, LLC (incorporated by reference to Exhibit 10.6 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.7 ​ Form of Indemnity Agreement (incorporated by reference to Exhibit 10.7 to Amendment No. 1 to the Registrant’s Registration Statement on Form S-1/A (File No. 333-291010), filed with the SEC on January 6, 2026). 10.8 ​ Administrative Services and Indemnification Agreement, dated February 10, 2026, by and between the Registrant and Idea Tender LLC (incorporated by reference to Exhibit 10.7 to the Registrant’s Current Report on Form 8-K (File No. 001-43111), filed with the SEC on February 13, 2026). 10.9 ​ Promissory Note issued to Idea Tender LLC (incorporated by reference to Exhibit 10.7 to the Registrant’s Registration Statement on Form S-1 (File No. 333-291010), filed with the SEC on October 22, 2025). 10.10 ​ Securities Subscription Agreement between Idea Tender LLC and the Registrant (incorporated by reference to Exhibit 10.8 to the Registrant’s Registration Statement on Form S-1 (File No. 333-291010), filed with the SEC on October 22, 2025). 14.1 ​ Form of Code of Ethics (incorporated by reference to Exhibit 14.1 to Amendment No.1 to the Registrant’s Registration Statement on Form S-1/A (File No. 333-291010), filed with the SEC on January 6, 2026). 19* ​ Insider Trading Policy. 24.1* ​ Power of Attorney (included on the signature pages herein). 31.1* ​ Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2* ​ Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1** ​ Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2** ​ Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 72 Table of Contents 97.1* ​ Policy relating to the recovery of erroneously awarded compensation. 101.INS ​ Inline XBRL Instance Document 101.SCH ​ Inline XBRL Taxonomy Extension Schema Document 101.CAL ​ Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF ​ Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB ​ Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE ​ Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 ​ Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit) * Filed herewith. ** Furnished herewith. ​ Item 16. Form 10-K Summary None. ​ 73 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized. IDEA ACQUISITION CORP. By: /s/ Trevor Harries-Jones Name: Trevor Harries-Jones Title: Chief Executive Officer and Director (Principal Executive Officer) Dated: March 31, 2026 ​ ​ POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Trevor Harries-Jones, Ryan Shea and Nathan Clark his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments to this Form 10-K, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the United States Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, as amended, this Form 10-K has been signed below by the following persons on behalf of the Registrant in the capacities and on the dates indicated. ​ ​ ​ ​ ​ Name ​ ​ ​ Title ​ ​ ​ Date ​ ​ ​ ​ ​ /s/ Trevor Harries-Jones ​ Chief Executive Officer and Director ​ March 31, 2026 Trevor Harries-Jones ​ (Principal Executive Officer) ​ ​ ​ ​ ​ ​ ​ /s/ Ryan Shea ​ Chief Operating Officer and Director ​ March 31, 2026 Ryan Shea ​ ​ ​ ​ ​ ​ ​ ​ ​ /s/ Nathan Clark ​ Chief Financial Officer ​ March 31, 2026 Nathan Clark ​ (Principal Financial and Accounting Officer) ​ ​ ​ ​ ​ ​ ​ /s/ Jules Urbach ​ Director ​ March 31, 2026 Jules Urbach ​ ​ ​ ​ ​ ​ ​ ​ ​ /s/ Eugene “Rod” Roddenberry Jr. ​ Director ​ March 31, 2026 Eugene “Rod” Roddenberry Jr. ​ ​ ​ ​ ​ ​ ​ ​ ​ /s/ Vinny Lingham ​ Director ​ March 31, 2026 Vinny Lingham ​ ​ ​ ​ ​ ​ ​ ​ 74 Table of Contents IDEA ACQUISITION CORP. ​ INDEX TO FINANCIAL STATEMENTS ​ Report of Independent Registered Public Accounting Firm F-2 Financial Statements: ​ Balance Sheet as of December 31, 2025 F-3 Statement of Operations for the period from September 18, 2025 (Inception) through December 31, 2025 F-4 Statement of Changes in Shareholder’s Deficit for the period from September 18, 2025 (Inception) through December 31, 2025 F-5 Statement of Cash Flows for the period from September 18, 2025 (Inception) through December 31, 2025 F-6 Notes to Financial Statements F-7 to F-18 ​ ​ ​ ​ F-1 Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholder of Idea Acquisition Corp. Opinion on the Financial Statements We have audited the accompanying balance sheet of Idea Acquisition Corp. (the “Company”) as of December 31, 2025, the related statements of operations, changes in shareholder’s deficit and cash flows for the period September 18, 2025 (inception) through December 31, 2025 and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and the results of its operations and its cash for the period September 18, 2025 (inception) through December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Basis for Opinion These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. /s/ WithumSmith+Brown, PC We have served as the Company’s auditor since 2025. New York, New York March 31, 2026 PCAOB Number 100 ​ F-2 Table of Contents IDEA ACQUISITION CORP. BALANCE SHEET DECEMBER 31, 2025 ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ Deferred offering costs ​ $ 341,043 Total Assets ​ $ 341,043 ​ ​ ​ ​ Liabilities and Shareholder’s Deficit ​ ​ Liabilities ​ ​ Current liabilities ​ ​ Accrued expenses ​ $ 31,492 Accrued offering costs ​ 150,024 Promissory note – related party ​ 183,439 Total current liabilities ​ 364,955 Total Liabilities ​ 364,955 ​ ​ ​ ​ Commitments and Contingencies (Note 6) ​ ​ ​ ​ ​ ​ Shareholder’s Deficit ​ ​ Preference shares, $ 0.0001 par value; 5,000,000 shares authorized; none issued or outstanding ​ — Class A ordinary shares, $ 0.0001 par value; 500,000,000 shares authorized; none issued or outstanding ​ — Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 10,062,500 issued and outstanding (1) ​ 1,006 Additional paid-in capital ​ 23,994 Accumulated deficit ​ ( 48,912 ) Total Shareholder’s Deficit ​ ( 23,912 ) Total Liabilities and Shareholder’s Deficit ​ $ 341,043 (1) Includes up to 1,312,500 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (Note 5). On March 27, 2026, the underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited to the Company. ​ The accompanying notes are an integral part of the financial statements. ​ F-3 Table of Contents IDEA ACQUISITION CORP. STATEMENT OF OPERATIONS FOR THE PERIOD FROM SEPTEMBER 18, 2025 (INCEPTION) THROUGH DECEMBER 31, 2025 ​ ​ ​ ​ ​ General and administrative costs ​ ​ ​ $ 48,912 Net loss ​ ( 48,912 ) ​ ​ ​ ​ Basic and diluted weighted average Class B ordinary shares outstanding (1) ​ 8,750,000 Basic and diluted net loss per Class B ordinary share ​ $ ( 0.01 ) (1) Excludes up to 1,312,500 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (Note 5). On March 27, 2026, the underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited to the Company. ​ The accompanying notes are an integral part of the financial statements. ​ F-4 Table of Contents IDEA ACQUISITION CORP. STATEMENT OF CHANGES IN SHAREHOLDER’S DEFICIT FOR THE PERIOD FROM SEPTEMBER 18, 2025 (INCEPTION) THROUGH DECEMBER 31, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Class A ​ Class B ​ Additional ​ ​ ​ Total ​ ​ Ordinary Shares ​ Ordinary Shares ​ Paid-in ​ Accumulated ​ Shareholder’s ​ ​ ​ ​ Shares ​ ​ ​ Amount ​ ​ ​ Shares ​ ​ ​ Amount ​ ​ ​ Capital ​ ​ ​ Deficit ​ ​ ​ Deficit Balance at September 18, 2025 (inception) ​ — ​ $ — ​ — ​ $ — ​ $ — ​ $ — ​ $ — Issuance of Class B ordinary shares to Sponsor (1) ​ — ​ ​ — ​ 10,062,500 ​ ​ 1,006 ​ ​ 23,994 ​ ​ — ​ ​ 25,000 Net loss — ​ — — ​ — ​ — ​ ( 48,912 ) ​ ( 48,912 ) Balance at December 31, 2025 — ​ $ — 10,062,500 ​ $ 1,006 ​ $ 23,994 ​ $ ( 48,912 ) ​ $ ( 23,912 ) (1) Includes up to 1,312,500 Class B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (Note 5). On March 27, 2026, the underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited to the Company. ​ The accompanying notes are an integral part of these financial statements. ​ F-5 Table of Contents IDEA ACQUISITION CORP. STATEMENT OF CASH FLOWS FOR THE PERIOD FROM SEPTEMBER 18, 2025 (INCEPTION) THROUGH DECEMBER 31, 2025 ​ ​ ​ ​ Cash Flows from Operating Activities: ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ ( 48,912 ) Adjustments to reconcile net income to net cash used in operating activities: ​ ​ Payment of general and administrative costs through promissory note – related party ​ 17,420 Changes in operating assets and liabilities: ​ ​ Accrued expenses ​ 31,492 Net cash used in operating activities ​ ― ​ ​ ​ ​ Net Change in Cash ​ ― Cash – Beginning of period ​ — Cash – End of period ​ $ — ​ ​ ​ ​ Supplemental disclosure of non-cash investing and financing activities: ​ ​ Deferred offering costs included in accrued offering costs ​ $ 150,024 Deferred offering costs paid through promissory note – related party ​ $ 166,019 Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares ​ $ 25,000 ​ The accompanying notes are an integral part of the financial statements. ​ F-6 Table of Contents NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN Idea Acquisition Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on September 18, 2025. The Company was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. As of December 31, 2025, the Company had not commenced any operations. All activity for the period from September 18, 2025 (inception) through December 31, 2025 relates to the Company’s formation, the initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest and/or dividend income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. The registration statement for the Company’s Initial Public Offering was declared effective on February 10, 2026. On February 12, 2026, the Company consummated the Initial Public Offering of 35,000,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units offered, the “Public Shares”) at $ 10.00 per Unit, generating gross proceeds of $ 350,000,000 . Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 6,000,000 warrants (the “Private Placement Warrants”), at a price of $ 1.50 per Private Placement Warrant, generating gross proceeds of $ 9,000,000 , of which $ 2,000,000 has not yet been received and is noted as a share subscription receivable on the Company’s balance sheet within equity section (see Note 5), in a private placement to Idea Tender LLC (the “Sponsor”) and Cantor Fitzgerald & Co. (“Cantor”), the representative of the underwriters, and Odeon Capital Group, LLC (“Odeon”). Of those 6,000,000 Private Placement Warrants, the Sponsor purchased 3,666,667 Private Placement Warrants and Cantor and Odeon purchased an aggregate of 2,333,333 Private Placement Warrants. Transaction costs amounted to $ 21,662,847 , consisting of $ 7,000,000 of cash underwriting fees, $ 14,000,000 of deferred underwriting fees, and $ 662,847 of other offering costs. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80 % of the net balance in the Trust Account (as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50 % or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination. Following the closing of the Initial Public Offering on February 12, 2026, an amount of $ 350,000,000 ($ 10.00 per Unit) from the net proceeds of the sale of the Units, and a portion of the proceeds of the sale of the Private Placement Warrants, are held in a U.S.-based trust account (the “Trust Account”) located in the United States, with Continental Stock Transfer & Trust Company, acting as trustee. The funds may only be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended Business Combination. To mitigate the risk that might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on management team’s ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial Public Offering and the sale of the Private Placement Warrants will not be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of the Company’s Public Shares if the Company is unable to complete the initial F-7 Table of Contents Business Combination within 24 months from the closing of the Initial Public Offering or by such earlier liquidation date as the Company’s board of directors may approve (the “Completion Window”), subject to applicable law, or (iii) the redemption of the Company’s Public Shares properly submitted in connection with a shareholder vote to amend the Company’s Amended and Restated Memorandum and Articles of Association to (A) modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100 % of the Company’s Public Shares if the Company has not consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders. The Company will provide the Company’s public shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be entitled to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account (which interest shall be net of taxes paid or payable, excluding any 1 % U.S. federal excise tax on stock repurchases under the Inflation Reduction Act of 2022, or similar tax, that is imposed on the Company, if any), divided by the number of then outstanding Public Shares, subject to the limitations. The amount in the Trust Account is initially $ 10.00 per Public Share. The Public Shares subject to redemption were recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” The Company will have only the duration of the Completion Window to complete the initial Business Combination. However, if the Company is unable to complete its initial Business Combination within the Completion Window, the Company will as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes payable and up to $ 100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will constitute full and complete payment for the Public Shares and completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation or other distributions, if any), subject to the Company’s obligations under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete the initial Business Combination within the Completion Window. The Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their Founder Shares (as described in Note 5) and Public Shares in connection with the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their Founder Shares and Public Shares in connection with a shareholder vote to approve an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100 % of the Public Shares if the Company has not consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete the initial Business Combination within the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions from assets outside the trust account; and (iv) vote any Founder Shares held by them and any Public Shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the initial Business Combination. The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $ 10.00 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $ 10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and F-8 Table of Contents all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations. NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Liquidity and Capital Resources The Company’s liquidity needs up to December 31, 2025 had been satisfied through the loan under an unsecured promissory note from the Sponsor of up to $ 300,000 . As of December 31, 2025, the Company had no cash and had a working capital deficit of $ 364,955 . In order to finance transaction costs in connection with the initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company will repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts, including the repayment of loans from the Sponsor to pay for any amount deposited to pay for any extension of the time to complete the initial Business Combination, but no proceeds from the Trust Account would be used for such repayment. Up to $ 1,500,000 of such loans may be convertible into Private Placement Warrants of the post Business Combination entity, at a price of $ 1.50 per Private Placement Warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants. The terms of such loans by the Company’s officers and directors, if any, have not been determined and no written agreements exist with respect to such loans. As of December 31, 2025, no such Working Capital Loans were outstanding. In connection with the Company’s assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements – Going Concern,” the Company has completed its Initial Public Offering on February 12, 2026, at which time the capital in excess of the funds deposited in Trust Account and/or used to fund offering costs and other expenses was released to the Company for general capital purposes. However, in connection with the sale of the Private Placement Warrants, the Sponsor expected to deposit $ 2,000,000 into the Company’s bank account. Due to the timing of funds and the bank account opening process, these funds were not deposited into the Company’s bank account at such time and remained in the Sponsor’s bank account as of March 31, 2026. The Company has accounted for the amount due as a share subscription receivable within equity section of the Company’s balance sheet as of the Initial Public Offering closing date. The Company does not believe it will need to raise additional funds in order to meet the expenditures required for operating its business. However, if the estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have insufficient funds available to operate its business prior to the initial Business Combination. The Company has the Completion Window to complete the initial Business Combination. Management has determined that upon the consummation of the Initial Public Offering and the sale of the Private Placement Warrants, the Company has sufficient funds to finance the working capital needs of the Company within one year from the date of issuance of the financial statements. Emerging Growth Company As an emerging growth company, the Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared F-9 Table of Contents effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash or cash equivalents as of December 31, 2025. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Deferred Offering Costs The Company complies with the requirements of the FASB ASC Topic 340-10-S99 and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC Topic 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between Class A ordinary shares and warrants, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the warrants and then to the Class A ordinary shares. On February 12, 2026, upon completion of the Initial Public Offering, offering costs allocated to the Public Shares were charged to temporary equity and offering costs allocated to the Public Warrants (as described in Note 3) and Private Placement Warrants were charged to shareholder’s deficit as Public Warrants and Private Placement Warrants after management’s evaluation are accounted for under equity treatment. Income Taxes The Company accounts for income taxes under FASB ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be F-10 Table of Contents more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2025, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented. Net Loss Per Class B Ordinary Share Net loss per Class B ordinary share is computed by dividing net loss by the weighted average number of Class B ordinary shares outstanding during the period, excluding Class B ordinary shares subject to forfeiture. Weighted average Class B ordinary shares were reduced for the effect of an aggregate of 1,312,500 Class B ordinary shares that are subject to forfeiture if the over-allotment option is not exercised by the underwriter (see Note 7). As of December 31, 2025, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per Class B ordinary share is the same as basic loss per Class B ordinary share for the period presented. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the balance sheet, primarily due to their short-term nature. Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with FASB ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statement of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed on the shares subject to redemption and are accounted for as a liability pursuant to FASB ASC Topic 480 since the underwriters’ over-allotment option was not exercised in full at the time of the Initial Public Offering. As of December 31, 2025, there is no over-allotment option liability recognized in the Company’s balance sheet. On February 12, 2026, the Company recognized a total of $ 326,700 of over-allotment option liability. On March 27, 2026, the underwriters’ over-allotment option expired, the Company closed the $ 326,700 over-allotment option liability against accumulated deficit. Warrants The Company accounts for the Public Warrants and Private Placement Warrants issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained in FASB ASC Topic 815. Accordingly, the Company evaluated and classified the warrant instruments under equity treatment at their assigned values. Share-based Compensation The Company records share-based compensation in accordance with FASB ASC Topic 718, “Compensation-Stock Compensation”, guidance to account for its share-based compensation. It applies a fair value-based method of accounting for an employee share option or similar equity instrument. The Company recognizes all forms of share-based payments at their fair value on the grant date, which are based on the estimated number of awards that are ultimately expected to vest. Share-based payments are valued by multiplying the marketable value per Founder Share (defined in Note 5) by the probability of successful closing of an initial Business Combination. Grants of share-based payment awards issued to non-employees for services rendered have been recorded at the fair value of the share-based payment, which is the more readily determinable value. The grants are amortized on a straight-line basis over the requisite service F-11 Table of Contents periods, which is generally the vesting period. If an award is granted, but vesting does not occur, any previously recognized compensation cost is reversed in the period related to the termination of service. Recent Accounting Standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. NOTE 3. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering on February 12, 2026, the Company sold 35,000,000 Units, at a purchase price of $ 10.00 per Unit, generating gross proceeds of $ 350,000,000 . Each Unit consists of one Class A ordinary share and one -third of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $ 11.50 per share, subject to adjustments (see Note 7). The Public Warrants will become exercisable 30 days after the completion of an initial Business Combination. NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor and Cantor and Odeon purchased an aggregate of 6,000,000 Private Placement Warrants, at a purchase price of $ 1.50 per Private Placement Warrant, or $ 9,000,000 in the aggregate, in a private placement. Of those 6,000,000 Private Placement Warrants, the Sponsor purchased 3,666,667 Private Placement Warrants and Cantor and Odeon purchased an aggregate of 2,333,333 Private Placement Warrants. Each whole Private Placement Warrant entitles the holder to purchase one Class A ordinary share at a price of $ 11.50 per share, subject to adjustment. The Private Placement Warrants will become exercisable 30 days after the completion of an initial Business Combination. The Private Placement Warrants are identical to the Public Warrants included in the Units sold in the Initial Public Offering, subject to certain limited exceptions as described herein (see Note 7). NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On September 22, 2025, the Sponsor was issued 10,062,500 Class B ordinary shares (the “Founder Shares”) for an aggregate price of $ 25,000 paid to cover certain expenses on behalf of the Company. The Founder Shares include an aggregate of up to 1,312,500 Class B ordinary shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option is not exercised in full or in part within 45 days from the date of the Initial Public Offering, so that the Sponsor will own, on an as-converted basis, 20 % of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the Sponsor does not purchase any Public Shares in the Initial Public Offering). On March 27, 2026, the underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited to the Company. On February 10, 2026, the Sponsor granted membership interests in Idea Tender LLC equivalent to an aggregate of 2,100,000 Founder Shares and 879,997 Private Placement Warrants to the independent directors and officer of the Company. The independent directors were granted membership interests equivalent to an aggregate 2,000,000 Founder Shares and 838,093 Private Placement Warrants and the Chief Financial Officer was granted membership interests equivalent to an aggregate 100,000 Founder Shares and 41,904 Private Placement Warrants. The membership interests in Founder Shares and Private Placement Warrants granted to the independent directors and officer are within the scope of FASB ASC Topic 718. Under FASB ASC Topic 718, share-based compensation associated with equity-classified awards is measured at fair value on the assignment date. On February 10, 2026, the 2,100,000 Founder Shares have an aggregate fair value of $ 5,888,400 , or $ 2.80 per share, and the 879,997 Private Placement Warrants have an aggregate fair value of $ 293,919 , or $ 0.33 per Private Placement Warrant. The membership interests in Founder Shares have no service restrictions, thus, the total fair value of $ 6,182,319 was recorded as compensation expense on February 10, 2026, the grant date. The Company established the fair value of Founder Shares using a calculation prepared by a third-party valuation experts, which takes into consideration the following market assumptions: (i) implied share price of $ 9.88 , (ii) risk-free rate of 3.65 %, and (iii) probability of De-SPAC and market adjustment of 28.37 %. The Company established the fair value of Private Placement Warrants using a calculation prepared by a third-party valuation experts, which were valued the same as the Public Warrants. F-12 Table of Contents The Company’s initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares and any Class A ordinary shares issued upon conversion thereof until the earlier to occur of (i) one year after the completion of the initial Business Combination or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. Any permitted transferees will be subject to the same restrictions and other agreements of the Company’s initial shareholders with respect to any Founder Shares (the “Lock-up”). Notwithstanding the foregoing, if (1) the closing price of the Class A ordinary shares equals or exceeds $ 12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -trading day period commencing at least 150 days after the initial Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the Company’s shareholders having the right to exchange their shares for cash, securities or other property, the Founder Shares will be released from the Lock-up. Promissory Note - Related Party The Sponsor has agreed to loan the Company an aggregate of up to $ 300,000 to be used for a portion of the expenses of the Initial Public Offering. The loan was non-interest bearing, unsecured and due at the earlier of June 30, 2026 or the closing of the Initial Public Offering. As of December 31, 2025, the Company had borrowed $ 183,439 under the promissory note. On February 12, 2026, the Initial Public Offering closing date, the Company had borrowed an aggregate of $ 250,689 , which remained outstanding and due on demand as of March 31, 2026. Borrowings under the promissory note are no longer available. Administrative Services and Indemnification Agreement The Company entered into an agreement with the Sponsor, commencing on February 10, 2026, the date that the Company’s securities were first listed with Nasdaq, through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space and administrative services, as the Company may require from time to time. The Company agreed to pay the Sponsor up to $ 20,000 per month for these services during the 24-month period to complete a Business Combination. The Company agreed to indemnify and hold harmless the Sponsor and its directors, officers, employees, principals, managers, partners, members, shareholders, equity holders, control persons, affiliates, agents, advisors, consultants and representatives (the “Indemnitees”) from any claims, losses, liabilities, obligations, causes of action, proceedings (whether pending or threatened), investigations, damages, awards, settlements, judgments, decrees, fees, costs, penalties, amounts paid in settlement or expenses (including interest, assessments and other charges in connection therewith and reasonable fees and disbursements of attorneys and other professional advisors and costs of suit) arising out of or relating to any pending or threatened claim, action, suit, proceeding or investigation against any of them or in which any of them may be a participant or may otherwise be involved (including as a witness) that arises out of or relates to (i) the Initial Public Offering of the Company’s securities or the Company’s operations or conduct of its business (including, for the avoidance of doubt, a Business Combination), or (ii) any claim against the Sponsor alleging any expressed or implied management or endorsement by the Sponsor of any activities of the Company or any express or implied association between the Sponsor, on the one hand, and the Company or any of its affiliates, on the other hand. As of December 31, 2025, such arrangement had not been executed, and no amount has been incurred or accrued for these services in the Company’s balance sheet. Related Party Loans In order to finance transaction costs in connection with the initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes the initial Business Combination, the Company will repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts, including the repayment of loans from the Sponsor to pay for any amount deposited to pay for any extension of the time to complete the initial Business Combination, but no proceeds from the Trust Account would be used for such repayment. Up to $ 1,500,000 of such loans may be convertible into Private Placement Warrants of the post Business Combination entity, at a price of $ 1.50 per Private Placement Warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants. The terms of such loans by the Company’s officers and directors, if any, have not been determined and no written agreements exist with respect to such loans. As of December 31, 2025, no such Working Capital Loans were outstanding. F-13 Table of Contents NOTE 6. COMMITMENTS AND CONTINGENCIES Risks and Uncertainties The Company’s ability to complete an initial Business Combination may be adversely affected by various factors, many of which are beyond the Company’s control. The Company’s ability to consummate an initial Business Combination could be impacted by, among other things, changes in laws or regulations, downturns in the financial markets or in economic conditions, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions, declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts in Ukraine and the Middle East. The Company cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude or the extent to which they may negatively impact the Company’s ability to complete an initial Business Combination. Registration Rights The holders of the Founder Shares, Private Placement Warrants and the Class A ordinary shares underlying such Private Placement Warrants and Private Placement Warrants that may be issued upon conversion of the Working Capital Loans will have registration rights to require the Company to register a sale of any of the Company’s securities held by them and any other securities of the Company acquired by them prior to the consummation of the initial Business Combination pursuant to a registration rights agreement signed on the effective date of the Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short-from demands, that the Company registers such securities. In addition, the holders have certain piggyback registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination. In addition, Cantor may participate in a piggyback registration only during the seven-year period beginning on the effective date of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a 45-day option from the date of the Initial Public Offering to purchase up to an additional 5,250,000 Units to cover over-allotments, if any. On March 27, 2026, the underwriters’ over-allotment option expired for the 5,250,000 Units. The underwriters are entitled to a cash underwriting discount of $ 7,000,000 ( 2.0 % of the gross proceeds of the Units offered in the Initial Public Offering), which was paid at the closing of the Initial Public Offering. Additionally, the underwriters are entitled to a deferred underwriting discount of 4.0 % of the gross proceeds of the Initial Public Offering held in the Trust Account other than those sold pursuant to the underwriters’ over-allotment option and 6.0 % of the gross proceeds sold pursuant to the underwriters’ over-allotment option, or $ 14,000,000 in the aggregate, upon the completion of the Company’s initial Business Combination subject to the terms of the underwriting agreement. NOTE 7. SHAREHOLDER’S DEFICIT Preference shares - The Company is authorized to issue 5,000,000 preference shares with a par value of $ 0.0001 per share. As of December 31, 2025, there were no preference shares issued or outstanding. Class A ordinary shares - The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of 0.0001 per share. As of December 31, 2025, there were no Class A ordinary shares issued or outstanding. Class B ordinary shares - The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of 0.0001 per share. As of December 31, 2025, there were 10,062,500 Class B ordinary shares issued and outstanding, of which an aggregate of up to 1,312,500 shares remain subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised within the 45-day period following the closing of the Initial Public Offering. On March 27, 2026, the underwriters’ over-allotment option expired, resulting in 1,312,500 Founder Shares being forfeited to the Company. The Founder Shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination or earlier at the option of the holder on a one -for-one basis, subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares, or any other equity-linked securities, are issued or deemed issued in excess F-14 Table of Contents of the amounts sold in the Initial Public Offering and related to or in connection with the closing of the initial Business Combination, the ratio at which Class B ordinary shares convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20 % of the sum of (i) the total number of all ordinary shares outstanding upon the completion of the Initial Public Offering (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment option and excluding the Class A ordinary shares underlying the Private Placement Warrants issued to the Sponsor), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business Combination and any private placement-equivalent warrants issued to the Sponsor or any of its affiliates or to the Company’s officers or directors upon conversion of Working Capital Loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial Business Combination; provided that such conversion of Founder Shares will never occur on a less than one -for-one basis. Holders of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the Amended and Restated Memorandum and Articles of Association or as required by the Companies Act or stock exchange rules, an ordinary resolution under Cayman Islands law and the Amended and Restated Memorandum and Articles of Association, which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain actions require a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the Company’s Amended and Restated Memorandum and Articles of Association, such actions include amending the Amended and Restated Memorandum and Articles of Association and approving a statutory merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following the Company’s initial Business Combination, the holders of more than 50 % of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing the Company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). Holders of the Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions of the Amended and Restated Memorandum and Articles of Association may only be amended if approved by a special resolution passed by the affirmative vote of at least 90 % (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds ) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the Company. Warrants – As of December 31, 2025, there were no Public Warrants and no Private Placement Warrants issued or outstanding. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $ 11.50 per share, subject to adjustment as discussed herein. The warrants cannot be exercised until 30 days after the completion of the initial Business Combination, and will expire at 5:00 p.m., New York City time, five years after the completion of the initial Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current. No warrant will be exercisable and the Company will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will the Company be required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a Unit containing such warrants will have paid the full purchase price for the Unit solely for the Class A ordinary share underlying such Unit. Under the terms of the warrant agreement, the Company has agreed that, as soon as practicable, but in no event later than 20 business days after the closing of its Business Combination, it will use commercially reasonable efforts to file with the SEC a post-effective amendment to the registration statement for the Initial Public Offering or a new registration statement covering the registration F-15 Table of Contents under the Securities Act of the Class A ordinary shares issuable upon exercise of the warrants and thereafter will use its commercially reasonable efforts to cause the same to become effective within 60 business days following the Company’s initial Business Combination and to maintain a current prospectus relating to the Class A ordinary shares issuable upon exercise of the warrants until the expiration of the warrants in accordance with the provisions of the warrant agreement. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the sixtieth (60 th ) business day after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If the holders exercise their Public Warrants on a cashless basis, they would pay the warrant exercise price by surrendering the warrants for that number of Class A ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” of the Class A ordinary shares over the exercise price of the warrants by (y) the fair market value. The “fair market value” is the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as applicable. Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $ 18.00 : The Company may redeem the outstanding warrants: ● in whole and not in part; ● at a price of $ 0.01 per warrant; ● upon a minimum of 30 days ’ prior written notice of redemption (the “30-day redemption period”); and ● if, and only if, the closing price of the Class A ordinary shares equals or exceeds $ 18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30 -trading day period commencing at least 30 days after completion of the Company’s initial Business Combination and ending three business days before the Company sends the notice of redemption to the warrant holders. Additionally, if the number of outstanding Class A ordinary shares is increased by a share capitalization payable in Class A ordinary shares, or by a subdivision of ordinary shares or other similar event, then, on the effective date of such share capitalization, subdivision or similar event, the number of Class A ordinary shares issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding ordinary shares. A rights offering made to all or substantially all holders of ordinary shares entitling holders to purchase Class A ordinary shares at a price less than the fair market value will be deemed a share capitalization of a number of Class A ordinary shares equal to the product of (i) the number of Class A ordinary shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A ordinary shares) and (ii) the quotient of (x) the price per Class A ordinary share paid in such rights offering and (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for Class A ordinary shares, in determining the price payable for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of Class A ordinary shares as reported during the ten ( 10 ) trading day period ending on the trading day prior to the first date on which the Class A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. The Private Placement Warrants are identical to the Public Warrants included in the Units sold in the Initial Public Offering except that the Private Placement Warrants (i) will not be redeemable by the Company, (ii) may not (including the Class A ordinary shares issuable upon exercise of these Private Placement Warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of an initial Business Combination, (iii) may be exercised by the holders on a cashless F-16 Table of Contents basis, (iv) will be entitled to registration rights and (v) with respect to Private placement Warrants held by the underwriters and/or their designees, will not be exercisable more than five years from the Initial Public Offering in accordance with FINRA Rule 5110(g)(8). NOTE 8. SEGMENT INFORMATION FASB ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance. The Company’s CODM has been identified as the Chief Executive Officer, who reviews the assets, operating results and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one reportable segment. The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2025 Deferred offering costs ​ $ 341,043 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the ​ ​ Period from ​ ​ September 18, ​ ​ 2025 ​ ​ (Inception) ​ ​ through ​ ​ December 31, ​ ​ 2025 General and administrative costs ​ $ 48,912 ​ The CODM reviews general and administrative costs to manage and forecast cash to ensure enough capital is available to complete an initial Business Combination or similar transaction within the Completion Window. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative costs, as reported on the statement of operations, are the significant segment expenses provided to the CODM on a regular basis. The CODM reviews the position of total assets as reported in the Company’s balance sheet to assess if the Company has sufficient resources available to discharge its liabilities. The CODM is provided with details of cash and liquid resources available with the Company. Additionally, the CODM regularly reviews the status of deferred offering costs incurred to assess if these are in line with the planned use of proceeds raised from the Initial Public Offering. The CODM will review the interests and/or dividends that will be earned and accrued on investments held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the Trust Agreement. NOTE 9. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date through March 31, 2026, the date that the financial statements were issued. Based upon this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements. The Company entered into an agreement with the Sponsor, commencing on February 10, 2026, the date that the Company’s securities were first listed with Nasdaq, through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space and administrative F-17 Table of Contents services, as the Company may require from time to time. The Company agreed to pay the Sponsor up to $ 20,000 per month for these services during the 24-month period to complete a Business Combination. On February 10, 2026, the Sponsor granted membership interests in Idea Tender LLC equivalent to an aggregate of 2,100,000 Founder Shares and 879,997 Private Placement Warrants to the independent directors and officer of the Company. The membership interests in Founder Shares have no service restrictions, thus, the total fair value of $ 6,182,319 was recorded as compensation expense on February 10, 2026. The registration statement for the Company’s Initial Public Offering was declared effective on February 10, 2026. On February 12, 2026, the Company consummated the Initial Public Offering of 35,000,000 Units at $ 10.00 per Unit, generating gross proceeds of $ 350,000,000 . Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 6,000,000 Private Placement Warrants, at a price of $ 1.50 per Private Placement Warrant, generating gross proceeds of $ 9,000,000 , of which $ 2,000,000 has not yet been received and is noted as a share subscription receivable on the Company’s balance sheet within equity section, in a private placement to the Sponsor and Cantor and Odeon. Following the closing of the Initial Public Offering, on February 12, 2026, an amount of $ 350,000,000 ($ 10.00 per Unit) from the net proceeds of the sale of the Units, and a portion of the proceeds of the sale of the Private Placement Warrants, was held in a Trust Account. On February 12, 2026, the underwriters were paid in cash an underwriting discount of $ 7,000,000 ( 2.0 % of the gross proceeds of the Units offered in the Initial Public Offering. Upon the consummation of the initial Business Combination, the Company will pay the underwriters a deferred underwriting discount of 4.0 % of the gross proceeds of the Initial Public Offering held in the Trust Account other than those sold pursuant to the underwriters’ over-allotment option and 6.0 % of the gross proceeds sold pursuant to the underwriters’ over-allotment option, or $ 14,000,000 in the aggregate. ​ On March 27, 2026, the underwriters’ over-allotment option expired for the 5,250,000 Units, resulting in 1,312,500 Founder Shares being forfeited to the Company and the Company closed the $ 326,700 over-allotment option liability against accumulated deficit. ​ ​ ​ F-18