8 unchanged sentences
Total Assets $ 247,289,503 $ 243,176,248
−Removed: Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Equity
+Added: Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ (Deficit) Equity
Current liabilities
4 unchanged sentences
Commitments (Note 6)
−Removed: Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $ 10.64 and $ 10.55 per share as of March 31, 2026 and December 31, 2025, respectively.
+Added: Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $ 10.73 and $ 10.55 per share as of June 30, 2026 and December 31, 2025, respectively.
246,845,170 242,543,188
−Removed: Shareholders’ Equity
+Added: Shareholders’ (Deficit) Equity
Preference shares, $ 0.0001 par value;
1,000,000 shares authorized;
−Removed: none issued or outstanding as of March 31, 2026 and December 31, 2025 — —
+Added: none issued or outstanding as of June 30, 2026 and December 31, 2025 — —
Class A ordinary shares, $ 0.0001 par value;
200,000,000 shares authorized;
−Removed: 840,000 shares issued and outstanding (excluding 23,000,000 shares subject to possible redemption) as of March 31, 2026 and December 31, 2025 84 84
+Added: 840,000 shares issued and outstanding (excluding 23,000,000 shares subject to possible redemption) as of June 30, 2026 and December 31, 2025 84 84
Class B ordinary shares, $ 0.0001 par value;
20,000,000 shares authorized;
−Removed: 5,750,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025 575 575
+Added: 5,750,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025 575 575
Additional paid-in capital — —
−Removed: Retained earnings 51,819 220,091
−Removed: Total Shareholders’ Equity 52,478 220,750
−Removed: Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Equity $ 245,206,475 $ 243,176,248
−Removed: The accompanying notes are an integral part of
−Removed: the unaudited condensed financial statements.
+Added: (Accumulated deficit) Retained earnings ( 132,760 ) 220,091
+Added: Total Shareholders’ (Deficit) Equity ( 132,101 ) 220,750
+Added: Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ (Deficit) Equity $ 247,289,503 $ 243,176,248
+Added: The accompanying notes are an integral part of the unaudited condensed financial statements.
JACKSON ACQUISITION COMPANY II
CONDENSED STATEMENTS OF OPERATIONS
+Added: For the Three Months Ended
+Added: For the Six Months Ended
General and administrative costs $ 184,579 $ 129,037 $ 352,851 $ 335,358
8 unchanged sentences
Basic and diluted net income per non-redeemable Class A and Class B ordinary share $ 0.07 $ 0.08 $ 0.13 $ 0.15
−Removed: The accompanying notes are an integral part of
−Removed: the unaudited condensed financial statements.
+Added: The accompanying notes are an integral part of the unaudited condensed financial statements.
JACKSON ACQUISITION COMPANY II
−Removed: CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’
−Removed: FOR THE THREE MONTHS ENDED MARCH 31, 2026
+Added: CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ (DEFICIT) EQUITY
+Added: FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026
Ordinary Shares
5 unchanged sentences
Balance – March 31, 2026 (unaudited) 840,000 84 5,750,000 575 — 51,819 52,478
−Removed: FOR THE THREE MONTHS ENDED MARCH 31, 2025
−Removed: Class A Ordinary
−Removed: Class B Ordinary
+Added: Accretion of Class A ordinary shares to redemption amount — — — — — ( 2,164,627 ) ( 2,164,627 )
+Added: Net income — — — — — 1,980,048 1,980,048
+Added: Balance – June 30, 2026 (unaudited) 840,000 $ 84 5,750,000 $ 575 $ — $ ( 132,760 ) $ ( 132,101 )
+Added: FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025
+Added: Ordinary Shares
+Added: Ordinary Shares
Shareholders’
3 unchanged sentences
Balance – March 31, 2025 (unaudited) 840,000 84 5,750,000 575 — 582,883 583,542
−Removed: The accompanying notes are an integral part of
−Removed: the unaudited condensed financial statements.
+Added: Accretion of Class A ordinary shares to redemption amount — — — — — ( 2,447,373 ) ( 2,447,373 )
+Added: Net income — — — — — 2,318,336 2,318,336
+Added: Balance – June 30, 2025 (unaudited) 840,000 $ 84 5,750,000 $ 575 $ — $ 453,846 $ 454,505
+Added: The accompanying notes are an integral part of the unaudited condensed financial statements.
JACKSON ACQUISITION COMPANY II
1 unchanged sentence
Cash Flows from Operating Activities:
−Removed: Net income (loss) $ 1,969,083 $ 2,227,401
−Removed: Adjustments to reconcile net income (loss) to net cash used in operating activities:
+Added: Net income $ 3,949,131 $ 4,545,737
+Added: Adjustments to reconcile net income to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account ( 4,301,982 ) ( 4,881,095 )
7 unchanged sentences
Cash - End of period $ 358,338 $ 721,661
−Removed: Non-Cash investing and financing activities:
−Removed: Deferred offering costs included in accrued offering costs $ — $ 2,433,722
−Removed: The accompanying notes are an integral part of
−Removed: the unaudited condensed financial statements.
+Added: The accompanying notes are an integral part of the unaudited condensed financial statements.
JACKSON ACQUISITION COMPANY II
NOTES TO CONDENSED FINANCIAL STATEMENTS
−Removed: MARCH 31, 2026
+Added: JUNE 30, 2026
NOTE 1 — ORGANIZATION AND PLAN OF BUSINESS OPERATIONS
3 unchanged sentences
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.
−Removed: As of March 31, 2026, the Company had not commenced any operations.
−Removed: All activity for the period from September 11, 2024 (inception) through March 31, 2026, 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.
+Added: As of June 30, 2026, the Company had not commenced any operations.
+Added: All activity for the period from September 11, 2024 (inception) through June 30, 2026, 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.
8 unchanged sentences
Following the closing of the Initial Public Offering on December 11, 2024, an amount of $ 232,300,000 ($ 10.10 per Unit) from the net proceeds of the sale of the Units, and a portion of the net proceeds from the sale of the Private Placement Units, was placed in the trust account (“Trust Account”), located in the United States, with Continental Stock Transfer & Trust Company acting as trustee.
−Removed: The funds will be held in cash, including in demand deposit accounts at a bank, or invested only in U.S.
+Added: The funds are held in cash, including in demand deposit accounts at a bank, or 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.
7 unchanged sentences
The public shareholders will be entitled to redeem their shares for a pro rata portion of the amount held in the Trust Account (initially $ 10.10 per Public Share), calculated as of two business days prior to the completion of a Business Combination, including any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations, if any.
−Removed: The Company’s rights do not have redemption rights in connection with the completion of a Business Combination.
+Added: Holders of the Company’s rights do not have redemption rights in connection with the completion of a Business Combination.
The Class A ordinary shares were recorded at redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.”
4 unchanged sentences
Notwithstanding the foregoing, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15 % of the Public Shares without the Company’s prior written consent.
−Removed: The Sponsor has agreed (a) to waive its redemption rights with respect to any Founder Shares and Public Shares held by it in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of the Company’s obligation to redeem 100 % of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company provides the public shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment and (iii) to waive its rights to liquidating distributions from the Trust Account with respect to the Founder Shares if the Company fails to complete a Business Combination.
+Added: The Sponsor has agreed (a) to waive its redemption rights with respect to any Founder Shares and Public Shares held by it in connection with the completion of a Business Combination, (b) not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of the Company’s obligation to redeem 100 % of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company provides the public shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment and (c) to waive its rights to liquidating distributions from the Trust Account with respect to the Founder Shares if the Company fails to complete a Business Combination.
The Company will have until 24 months from the closing of the Initial Public Offering (December 11, 2026) (the “Combination Period”) to complete a Business Combination.
2 unchanged sentences
However, if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period.
−Removed: The underwriters have agreed to waive their rights to its Marketing Fee (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares.
+Added: The underwriter has agreed to waive its rights to its Business Combination Marketing Fee (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares.
In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($ 10.00 ).
14 unchanged sentences
Going Concern
−Removed: As of March 31, 2026, the Company had $ 393,467 in cash and working capital surplus of $ 52,478 .
+Added: As of June 30, 2026, the Company had $ 358,338 in cash and working capital deficit of $ 132,101 .
Further, the Company has incurred and expects to continue to incur significant costs in pursuit of its financing and acquisition plans.
−Removed: In connection with the Company’s assessment of going concern considerations in accordance with ASC 205-40, “Presentation of Financial Statements – Going Concern,” as of March 31, 2026, the Company has determined that mandatory liquidation and subsequent dissolution, should the Company be unable to complete a Business Combination, raises substantial doubt about the Company’s ability to continue as a going concern.
+Added: In connection with the Company’s assessment of going concern considerations in accordance with ASC 205-40, “Presentation of Financial Statements – Going Concern,” as of June 30, 2026, the Company has determined that mandatory liquidation and subsequent dissolution, should the Company be unable to complete a Business Combination, raises substantial doubt about the Company’s ability to continue as a going concern.
The Company has until December 11, 2026 to consummate a Business Combination.
10 unchanged sentences
The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2025, as filed with the SEC on March 20, 2026.
−Removed: The interim results for the three months ended March 31, 2026, are not necessarily indicative of the results to be expected for the period ending December 31, 2026 or for any future periods.
+Added: The interim results for the three and six months ended June 30, 2026 and 2025, are not necessarily indicative of the results to be expected for the period ending December 31, 2026 or for any future periods.
Segment Reporting
13 unchanged sentences
The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.
−Removed: The Company had $ 393,467 and $ 521,776 in cash and no cash equivalents as of March 31, 2026 and December 31, 2025, respectively.
+Added: The Company had $ 358,338 and $ 521,776 in cash and no cash equivalents as of June 30, 2026 and December 31, 2025, respectively.
Marketable Securities Held in Trust Account
−Removed: At March 31, 2026 and December 31, 2025, substantially all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S.
+Added: At June 30, 2026 and December 31, 2025, substantially all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S.
Treasury securities.
1 unchanged sentence
Trading securities are presented on the condensed balance sheets at fair value at the end of each reporting period.
−Removed: Gains and losses resulting from the change in fair value of investments held in the Trust Account are included in interest earned on marketable securities held in Trust Account in the accompanying condensed statement of operations.
+Added: Gains and losses resulting from the change in fair value of investments held in the Trust Account are included in interest earned on marketable securities held in Trust Account in the accompanying condensed statements of operations.
The estimated fair values of investments held in Trust Account are determined using available market information.
Fair values of these marketable securities are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets.
−Removed: As of March 31, 2026 and December 31, 2025, the Company reported $ 244,680,543 and $ 242,543,188 in marketable securities held in the Trust Account, respectively.
+Added: As of June 30, 2026 and December 31, 2025, the Company reported $ 246,845,170 and $ 242,543,188 in marketable securities held in the Trust Account, respectively.
The Company accounts for income taxes under ASC 740, “Income Taxes” (“ASC 740”).
4 unchanged sentences
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense.
−Removed: There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2026 and December 31, 2025.
+Added: There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2026 and December 31, 2025.
The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.
15 unchanged sentences
The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit.
−Removed: Accordingly, as of March 31, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets.
−Removed: As of March 31, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:
+Added: Accordingly, as of June 30, 2026 and December 31, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ (deficit) equity section of the Company’s balance sheets.
+Added: As of June 30, 2026 and December 31, 2025, the Class A ordinary shares subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:
Shares Amount
4 unchanged sentences
Class A ordinary shares subject to possible redemption, March 31, 2026 23,000,000 244,680,543
+Added: Accretion of carrying value to redemption value 2,164,627
+Added: Class A ordinary shares subject to possible redemption, June 30, 2026 23,000,000 $ 246,845,170
Net Income per Ordinary Share
4 unchanged sentences
The calculation of diluted net income per ordinary share does not consider the effect of the rights issued in connection with the Initial Public Offering and the Private Placement to receive one tenth (1/10) of one Class A ordinary share upon the consummation of an initial Business Combination in the calculation of diluted income per ordinary share, because their exercise is contingent upon future events.
−Removed: As a result, diluted net income per ordinary share is the same as basic net income per ordinary share for the three months ended March 31, 2026 and 2025.
+Added: As a result, diluted net income per ordinary share is the same as basic net income per ordinary share for the three and six months ended June 30, 2026 and 2025.
Accretion associated with the redeemable Class A ordinary shares is excluded from earnings per ordinary share as the redemption value approximates fair value.
1 unchanged sentence
For the Three Months Ended
−Removed: March 31, 2026
−Removed: For the Three Months Ended
−Removed: March 31, 2025
+Added: For the Six Months Ended
+Added: 2026 2025 2026 2025
Basic and diluted net income per ordinary share:
2 unchanged sentences
Class A Non-redeemable
+Added: Class B Redeemable
+Added: Class A Non-redeemable
+Added: Class B Redeemable
+Added: Class A Non-redeemable
Allocation of net income $ 1,539,071 $ 440,977 $ 1,802,019 $ 516,317 $ 3,069,619 $ 879,512 $ 3,533,354 $ 1,012,383
29 unchanged sentences
Compensation expense related to the Founder Shares is recognized only when the performance condition is probable of occurrence under the applicable accounting literature in this circumstance.
−Removed: The Company’s initial shareholders have agreed, subject to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of (A) one year after the completion of a Business Combination;
+Added: The Company’s initial shareholders have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of (A) one year after the completion of a Business Combination;
and (B) subsequent to a Business Combination, (x) if the last reported sale 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 a Business Combination, or (y) the date on which the Company completes a liquidation, merger, amalgamation, share exchange, reorganization or other similar transaction 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.
1 unchanged sentence
On September 13, 2024, the Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which the Company may borrow up to an aggregate principal amount of $ 300,000 .
−Removed: The Promissory Note is non-interest bearing and was payable on the earlier of (i) March 31, 2025 or (ii) the consummation of the Initial Public Offering.
+Added: The Promissory Note was non-interest bearing and was payable on the earlier of (i) March 31, 2025 or (ii) the consummation of the Initial Public Offering.
On May 7, 2025, the Promissory Note was amended such that the Promissory Note is payable upon consummation of an initial Business Combination or upon liquidation of the Company.
−Removed: As of March 31, 2026 and December 31, 2025, there was $ 198,024 outstanding under the Promissory Note.
+Added: As of June 30, 2026 and December 31, 2025, there was $ 198,024 outstanding under the Promissory Note.
Administrative Services Agreement
The Company entered into an agreement with the Sponsor, commencing on December 9, 2024 through the earlier of the Company’s consummation of a Business Combination or its liquidation, to pay an aggregate of $ 10,000 per month for office space and administrative and support services.
−Removed: For the three months ended March 31, 2026 and 2025, the Company incurred $ 30,000 for these services.
−Removed: At March 31, 2026 and December 31, 2025, the Company owed $ 157,000 and $ 127,000 , respectively, for these services.
+Added: For the three and six months ended June 30, 2026 and 2025, the Company incurred $ 30,000 and $ 60,000 , respectively, for these services.
+Added: At June 30, 2026 and December 31, 2025, the Company owed $ 187,000 and $ 127,000 , respectively, for these services.
Related Party Loans
6 unchanged sentences
The Units would be identical to the Private Placement Units.
−Removed: As of March 31, 2026 and December 31, 2025, there are no Working Capital Loans outstanding.
+Added: As of June 30, 2026 and December 31, 2025, there are no Working Capital Loans outstanding.
NOTE 6 — COMMITMENTS
Registration Rights
−Removed: The holders of the Founder Shares, Private Placement Shares, Private Placement Units, and any Units that may be issued upon conversion of the Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Units and Units that may be issued upon conversion of Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights agreement that was entered into on the effective date of the Initial Public Offering requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to Class A ordinary shares).
+Added: The holders of the Founder Shares, Private Placement Shares, Private Placement Units, and any Units that may be issued upon conversion of the Working Capital Loans (and any Class A ordinary shares underlying the Private Placement Units and Units that may be issued upon conversion of Working Capital Loans and issuable upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights agreement that was entered into on the effective date of the Initial Public Offering requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to Class A ordinary shares).
The holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities.
10 unchanged sentences
The Company will pay Roth a cash fee (the “Business Combination Marketing Fee”) for such services upon the consummation of its initial Business Combination in an amount up to 4.0 % of the gross proceeds of the Initial Public Offering, an aggregate of up to $ 9,200,000 after the underwriters exercised their over-allotment option in full on December 11, 2024.
−Removed: As of March 31, 2026 and December 31, 2025, no Business Combination Marketing Fee has been incurred or recorded.
−Removed: NOTE 7 — SHAREHOLDERS’ EQUITY
+Added: As of June 30, 2026 and December 31, 2025, no Business Combination Marketing Fee has been incurred or recorded.
+Added: NOTE 7 — SHAREHOLDERS’ (DEFICIT) EQUITY
Preference Shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $ 0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors.
−Removed: At March 31, 2026 and December 31, 2025, there were no preference shares issued or outstanding.
+Added: At June 30, 2026 and December 31, 2025, there were no preference shares issued or outstanding.
Class A Ordinary Shares — The Company is authorized to issue 200,000,000 Class A ordinary shares, with a par value of $ 0.0001 per share.
Holders of Class A ordinary shares are entitled to one vote for each share.
−Removed: At March 31, 2026 and December 31, 2025, there were 840,000 Class A ordinary shares issued and outstanding, excluding 23,000,000 Class A ordinary shares subject to possible redemption.
+Added: At June 30, 2026 and December 31, 2025, there were 840,000 Class A ordinary shares issued and outstanding, excluding 23,000,000 Class A ordinary shares subject to possible redemption.
Class B Ordinary Shares — The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $ 0.0001 per share.
1 unchanged sentence
On September 13, 2024, the Company issued 5,750,000 Class B ordinary shares to the Sponsor for $ 25,000 , or approximately $ 0.004 per share.
−Removed: As of March 31, 2026 and December 31, 2025, there were 5,750,000 Class B ordinary shares issued and outstanding.
+Added: As of June 30, 2026 and December 31, 2025, there were 5,750,000 Class B ordinary shares issued and outstanding.
Only holders of Class B ordinary shares will have the right to vote on the election of directors prior to the Business Combination.
23 unchanged sentences
Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.
−Removed: The following table presents information about the Company’s assets that are measured at fair value as of March 31, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
−Removed: Level March 31,
+Added: The following table presents information about the Company’s assets that are measured at fair value as of June 30, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
+Added: Level June 30,
2026 December 31,
Marketable Securities held in Trust Account 1 $ 246,845,170 $ 242,543,188
−Removed: At March 31, 2026 and December 31, 2025, substantially all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S.
+Added: At June 30, 2026 and December 31, 2025, substantially all of the assets held in the Trust Account were held in money market funds which are invested in U.S.
Treasury securities and have readily determinable values using available market information.
1 unchanged sentence
NOTE 9 — SEGMENT INFORMATION
−Removed: 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.
+Added: ASC Topic 280, “Segment Reporting,” establishes standards for companies to report information in their financial statements 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.
4 unchanged sentences
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income and total assets, which include the following:
−Removed: March 31, December 31,
+Added: June 30, December 31,
Cash $ 358,338 $ 521,776
1 unchanged sentence
For the Three Months Ended
+Added: June 30, For the Six Months Ended
+Added: 2026 2025 2026 2025
General and administrative expenses $ 184,579 $ 129,037 $ 352,851 $ 335,358
Interest earned on marketable securities held in Trust Account $ 2,164,627 $ 2,447,373 $ 4,301,982 $ 4,881,095
−Removed: The CODM reviews interest earned on marketable securities 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.
+Added: The CODM reviews interest earned on marketable securities held in Trust Account to measure and monitor shareholder value and determine the most effective investment strategy for the Trust Account funds while maintaining compliance with the Trust Agreement.
General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a Business Combination or similar transaction within the Combination Period.
5 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.