6 unchanged sentences
(the “Company”) is a blank check company incorporated on May 31, 2024 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities (the “Business Combination”).
−Removed: As of March 31, 2025, the Company had not yet commenced operations.
−Removed: All activity since inception through March 31, 2025, relates to the Company’s formation, its initial public offering (the “IPO”), and the identification and evaluation of prospective target businesses for a Business Combination.
+Added: As of June 30, 2025, the Company had not yet commenced operations.
+Added: All activity since inception through June 30, 2025, relates to the Company’s formation, its initial public offering (the “IPO”), and the identification and evaluation of prospective target businesses for a Business Combination.
The Company will not generate any operating revenues until the completion of a Business Combination.
10 unchanged sentences
Liquidity and Capital Resources
−Removed: As of March 31, 2025, the Company had cash of $504,566 held outside the Trust Account and working capital of $571,281.
−Removed: Cash used in operating activities for the three months ended March 31, 2025 was $218,301.
+Added: As of June 30, 2025, the Company had cash of $496,072 held outside the Trust Account and working capital of $509,852.
+Added: Cash used in operating activities for the six months ended June 30, 2025 was $230,951.
This consisted primarily of changes in operating assets and liabilities and interest income earned on Trust Account funds.
The Company intends to use the funds held outside the Trust Account to fund ongoing operations including identifying, evaluating, and conducting due diligence on potential Business Combination candidates.
−Removed: The Company believes that the available funds held outside the Trust Account as of March 31, 2025, will be sufficient to operate for at least the next 12 months.
+Added: The Company believes that the available funds held outside the Trust Account as of June 30 2025, will be sufficient to operate for at least the next 12 months.
However, if the Company’s estimates of the costs of identifying and completing a Business Combination prove to be inaccurate, or interest income is lower than expected, additional funding might be required.
5 unchanged sentences
Results of Operations
−Removed: For the three months ended March 31, 2025, the Company reported net income of $379,937.
+Added: For the three months ended June 30, 2025, the Company reported net income of $861,511.
This was comprised primarily of $903,585 in interest earned on investments held in the Trust Account and $4,868 of the interest income received on the Cash held outside the trust account, offset by $46,942 in formation and operating costs.
−Removed: The Company did not have any operations or financial activity prior to May 31, 2024 (its inception date), and thus no prior period comparative information is presented.
+Added: For the six months ended June 30, 2025, the Company reported net income of $1,241,448.
+Added: This was comprised primarily of $1,320,794 in interest earned on investments held in the Trust Account and $8,019 of the interest income received on the Cash held outside the trust account, offset by $87,365 in formation and operating costs.
+Added: For the period from May 31, 2024 (inception date) to June 30, 2024, the Company reported net loss of $7,322.
+Added: This was comprised primarily of formation and operating cost.
Contractual Obligations
1 unchanged sentence
On February 14, 2025, the Company entered into an agreement to pay its Sponsor a monthly fee of $1,667 for office space and administrative support services.
−Removed: For the quarter ended March 31, 2025, the Company incurred $2,501 under this agreement.
+Added: For the quarter ended June 30, 2025, the Company incurred $7,502 under this agreement.
In connection with the IPO, the Sponsor loaned $500,000 to the Company under a non-interest bearing, non-convertible promissory note.
9 unchanged sentences
Actual results could differ from those estimates.
−Removed: As of March 31, 2025, the Company has not identified any critical accounting estimates.
+Added: As of June 30, 2025, the Company has not identified any critical accounting estimates.
Recent Accounting Standards
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.