What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-08-14 compared with 2026-06-26 · 284 added, 129 removed, 294 unchanged (58% of the section changed)

4 unchanged sentences

Deferred offering costs

Cash and investments held in Trust Account

LIABILITIES AND SHAREHOLDERS’ EQUITY

Accrued expenses - related party

Current liabilities:

Accrued offering costs and expenses

Accrued expenses - related party

Due to related parties

Total Current Liabilities

Promissory note - related party

Total Liabilities

Commitments and contingencies

Ordinary shares subject to possible redemption ( 6,000,000 shares and 0 shares at redemption value of $ 10.08 and $ 0 per share as of June 30, 2026 and December 31, 2025)

Shareholders’ Equity:

4 unchanged sentences

200,000,000 shares authorized;

2,475,000 shares issued and outstanding at March 31, 2026 and December 31, 2025 (1)

2,437,500 and 2,475,000 (1) shares issued and outstanding (excluding 6,000,000 and nil shares subject to possible redemption) as of June 30, 2026 and December 31, 2025, respectively

Additional paid-in capital

Accumulated deficit

Total shareholders’ equity (deficit)

Total Shareholders’ Equity

Total Liabilities and Shareholders’ Equity

aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the

underwriter (See Note 5 and 7).

an aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by

the underwriter (See Note 5 and 7).

accompanying notes are an integral part of the unaudited financial statements.

1 unchanged sentence

OF OPERATIONS

Three Months Ended

March 31, 2026

For The Period

From June 24,

2025 (Inception)

Formation and operating costs

Loss from operations

Other Income:

Bank interest income

Interest earned on cash and investments held in Trust Account

Total other income

Basic and diluted weighted average ordinary shares outstanding (1)

Basic and diluted net loss per ordinary shares

aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the

underwriter (See Note 5 and 7).

Net income (loss)

Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

Basic and diluted net income per share, ordinary shares subject to possible redemption

Basic and diluted weighted average shares outstanding, non-redeemable ordinary shares

2,000,000 (1)

Basic and diluted net loss per share, non-redeemable ordinary shares

an aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by

the underwriter (See Note 5 and 7).

accompanying notes are an integral part of the unaudited financial statements.

1 unchanged sentence

OF CHANGES IN SHAREHOLDERS’ EQUITY

THE SIX MONTHS ENDED JUNE 30, 2026

Paid-in Capital

Equity (Deficit)

Ordinary Shares

Shareholders’

Paid-in Capital

Equity (Deficit)

Balance as of

December 31, 2025

as of March 31, 2026

Balance as of January 1, 2026 (1)

Balance as of March 31, 2026

$ ( 134,813 )

aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the

underwriter (See Note 5 and 7).

Sale of 6,000,000 Units in Initial Public Offering

Sale of 262,500 Private Placement Units

Underwriter’s commission

( 1,200,000 )

Other offering costs charged to additional paid-in capital

Initial measurement of ordinary shares subject to possible redemption under ASC 480-10-S99

( 6,000,000 )

( 53,536,941 )

( 53,537,541 )

Allocation of offering costs to ordinary shares subject to redemption

Remeasurement of carrying value to redemption value

( 8,379,726 )

Forfeiture of 300,000 founder shares

Subsequent measurement of ordinary shares subject to possible redemption (interest earned on Trust Account)

Balance as of June 30, 2026

THE PERIOD FROM JUNE 24, 2025 (INCEPTION) THROUGH JUNE 30, 2025

Ordinary Shares

Shareholders’

Paid-in Capital

Equity (Deficit)

Balance as of June 24, 2025 (inception)

Ordinary shares issued to Sponsor

Net income (loss)

Balance as of June 30, 2025

an aggregate of up to 300,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by

the underwriter (See Note 5 and 7).

accompanying notes are an integral part of the unaudited financial statements.

1 unchanged sentence

OF CASH FLOWS

Three Months Ended

March 31, 2026

For the Period

From June 24,

2025 (Inception)

Cash flows from operating activities:

Adjustments to reconcile net loss to net cash used in operating activities:

Net income (loss)

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Interest earned on cash and investments held in Trust Account

Changes in operating assets and liabilities:

Accrued offering costs and expenses

Prepaid expenses

Due to related party

Accrued expenses - related party

Net cash used in operating activities

Cash flows from investing activities:

Principal deposited in Trust Account

( 60,300,000 )

Net cash used in investing activities

( 60,300,000 )

Cash flows from financing activities:

Proceeds from advances from related parties

Proceeds from Initial Public Offering

Proceeds from private placement

Payment of underwriter’s discount

( 1,200,000 )

Proceeds from promissory note - related party

Repayment of advances from related parties

Payment of deferred offering costs

2 unchanged sentences

Cash at beginning of period

Cash at the end of period

Cash at end of period

Supplemental disclosure of non-cash investing and financing activities:

Deferred offering costs included in accrued offering costs

Offering costs charged to additional paid-in capital

Allocation of offering costs to ordinary shares subject to redemption

Reclassification of ordinary shares subject to possible redemption

Remeasurement of carrying value to redemption value

Subsequent measurement of ordinary shares subject to possible redemption (interest earned on Trust Account)

Forfeiture of 300,000 founder shares (over-allotment not exercised)

accompanying notes are an integral part of the unaudited financial statements.

11 unchanged sentences

partnership (the “Sponsors”).

As of March 31, 2026, the Company had not commenced any operations.

As of June 30, 2026, the Company had not commenced any operations.

All activity for the period

from June 24, 2025 (inception) through March 31, 2026 relates to the Company’s formation and the Initial Public Offering (“IPO”),

from June 24, 2025 (inception) through June 30, 2026 relates to the Company’s formation and the Initial Public Offering (“IPO”),

which is described below.

12 unchanged sentences

charged to additional paid-in capital or accumulated deficit to the extent additional paid-in capital is fully depleted upon completion

Company will have until 15 months from May 26, 2026, the closing of the IPO, to consummate a Business Combination (the

“Combination Period”).

However, if the Company has not completed a Business Combination within the Combination Period,

the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more

than ten business days thereafter, redeem 100% of the Public Shares (the holders of the Public Shares, including the Company’s

initial shareholders and/or members of its management team to the extent they purchase Public Shares, are referred to as the

“Public Shareholders”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the

Trust Account, including interest earned and not previously released to pay taxes, if any, or for working capital requirements (less

certain amount of interest to pay dissolution expenses), divided by the number of then issued and outstanding Public Shares, which

redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right to receive further

liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval

of the Company’s remaining Public Shareholders and its Board of Directors, liquidate and dissolve, subject in each case to the

Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable

Company will have until 15 months from May 26, 2026, the closing of the IPO, to consummate a Business Combination (the “Combination

However, if the Company has not completed a Business Combination within the Combination Period, the Company will (i)

cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days

thereafter, redeem 100% of the Public Shares (the holders of the Public Shares, including the Company’s initial shareholders and/or

members of its management team to the extent they purchase Public Shares, are referred to as the “Public Shareholders”),

at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned

and not previously released to pay taxes, if any, or for working capital requirements (less certain amount of interest to pay dissolution

expenses), divided by the number of then issued and outstanding Public Shares, which redemption will completely extinguish the rights

of the Public Shareholders as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly

as reasonably possible following such redemption, subject to the approval of the Company’s remaining Public Shareholders and its

Board of Directors, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide

for claims of creditors and the requirements of other applicable law.

Concern Consideration

of March 31, 2026, the Company had $ 1,025 in its operating bank account, and working capital deficit of $ 242,349 .

Further, the Company has incurred

and expects to continue to incur significant costs in pursuit of its financing and acquisition plans in pursuit of a Business Combination.

of June 30, 2026, the Company had $ 378,025 in its operating bank account, and working capital of $ 471,794 .

Further, the Company

has incurred and expects to continue to incur significant costs in pursuit of its financing and acquisition plans in pursuit of a Business

connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s

2 unchanged sentences

to continue as a going concern within one year after the date that the financial statement is issued.

In addition, if the Company

is unable to complete a Business Combination within the Combination Period, the Company’s board of directors would proceed to commence

In addition, if the Company is

unable to complete a Business Combination within the Combination Period, the Company’s board of directors would proceed to commence

a voluntary liquidation and thereby a formal dissolution of the Company.

7 unchanged sentences

of Presentation

accompanying financial statement has been prepared in accordance with accounting principles generally accepted in the United States of

America (“US GAAP”) and pursuant to the rules and regulations of the SEC.

The accompanying unaudited financial statements

as of March 31, 2026 and for the three months then ended, have been prepared in accordance with GAAP and the rules of the SEC.

opinion of management, all adjustments (consisting of normal accruals), considered for a fair presentation have been included.

The unaudited

financial statements should be read in conjunction with the Company’s audited financials included in Form S-1 filing.

results are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any future interim

accompanying financial statement has been prepared in accordance with accounting principles generally accepted in the United States

of America (“US GAAP”) and pursuant to the rules and regulations of the SEC.

The accompanying unaudited financial

statements as of June 30, 2026, for the three months and the sixth months then ended, have been prepared in accordance with GAAP and

the rules of the SEC.

In the opinion of management, all adjustments (consisting of normal accruals), considered for a fair

presentation have been included.

The unaudited financial statements should be read in conjunction with the Company’s audited

financials included in Form S-1 filing.

The interim results are not necessarily indicative of the results to be expected for the

year ending December 31, 2026 or for any future interim periods.

Growth Company

29 unchanged sentences

Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

The Company had $ 1,025 in cash and no cash equivalents as of March 31, 2026.

The Company had $ 378,025 in cash and no cash equivalents as of June 30, 2026.

Investments held in trust account

The Company’s portfolio of investments held in the trust account is comprised of investments in

government securities 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 and Money Market Fund.

The Company’s

investments held in the trust account are classified as trading securities.

Trading securities are presented on the balance sheet at fair

value at the end of each reporting period.

Gains and losses resulting from the change in fair value of investments held in Trust Account

are included in interest earned on marketable securities held in trust account in the accompanying statements of operations.

The estimated

fair value of investments held in the trust account is determined using available market information.

As of June 30, 2026, the Trust Account

had balances of $ 60,504,613 .

The interests earned from the trust account totaled $ 204,613 for the three months and six months ended June

30, 2026, which were held in the trust accounts as earned and therefore presented as an adjustment to the operating activities in the

Statement of Cash Flows.

Offering Costs

1 unchanged sentence

date that are directly related to the IPO and that will be charged to shareholders’ equity upon the completion of the IPO.

March 31, 2026 and December 31, 2025, the Company had deferred offering costs of $ 219,536 and $ 218,986 , respectively.

June 30, 2026 and December 31, 2025, the Company had deferred offering costs of $ 0 and $ 218,986 , respectively.

Compensation Expense

22 unchanged sentences

as income tax expense.

There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2026.

There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2026.

The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation

4 unchanged sentences

Consequently, income taxes are not reflected in the Company’s financial statements.

Loss per Ordinary Share

Income (Loss) per Ordinary Share

loss per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding

2 unchanged sentences

that are subject to forfeiture if the over-allotment option is not exercised by the underwriter (see Notes 5 and 7).

At March 31, 2026,

At June 30, 2026,

the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary

2 unchanged sentences

period presented.

net income (loss) per share presented in the statements of operations is based on the following:

OF NET INCOME (LOSS) PER SHARE

For The Three Months Ended

From inception

(June 24, 2025) to

For The Six Months

From inception

(June 24, 2025) to

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Net income (loss)

Interest earned from trust account

Net loss including accretion of temporary equity to redemption value

$ ( 117,907 )

$ ( 174,294 )

the three months ended

June 30, 2026

From inception

(June 24, 2025) to

June 30, 2025

Basic and diluted net income (loss) per share:

Allocation of net loss including accretion of temporary equity

Income earned on investment held in Trust Account

Allocation of net income (loss)

Denominators:

Weighted-average shares outstanding

Basic and diluted net income (loss) per share

the six months ended

June 30, 2026

From inception

(June 24, 2025) to

June 30, 2025

Basic and diluted net income (loss) per share:

Allocation of net loss including accretion of temporary equity

$ ( 113,486 )

Income earned on investment held in Trust Account

Allocation of net income (loss)

$ ( 113,486 )

Denominators:

Weighted-average shares outstanding

Basic and diluted net income (loss) per share

Value of Financial Instruments

1 unchanged sentence

Measurement ,” approximates the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Shares Subject to Possible Redemption

Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification

(“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption (if

any) is classified as a liability instrument and is measured at fair value.

Conditionally redeemable ordinary shares (including ordinary

shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence

of uncertain events not solely within the Company’s control) is classified as temporary equity.

At all other times, ordinary shares

are classified as shareholders’ equity.

The Company’s ordinary shares features certain redemption rights that are considered

to be outside of the Company’s control and subject to occurrence of uncertain future events.

Accordingly, 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 sheet.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying

value of redeemable ordinary shares to equal the redemption value at the end of each reporting period.

Increases or decreases in the

carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit.

June 30, 2026, the ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

OF ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION REFLECTED IN THE BALANCE SHEET

Public offering proceeds

Proceeds allocated to Public Rights

( 4,499,998 )

Proceeds allocated to Public Warrants

( 1,962,461 )

Offering costs of public shares

( 1,617,267 )

Remeasurement of carrying value to redemption value

Subsequent measurement of ordinary shares subject to possible redemption (income earned on trust account)

Ordinary shares subject to possible redemption as of June 30, 2026

Accounting Standards

6 unchanged sentences

Shares”), one right (“Rights”), each Right entitling its holder to receive one fifth of one Ordinary Share upon the

completion of the Company’s initial business combination, and one warrant (“Warrants”), each Warrant entitling

its holder to purchase one Ordinary Share for $ 11.50 per share, subject to adjustment.

In addition, the Company paid the underwriter

a cash underwriting discount of $ 0.20 per Unit, or $ 1,200,000 in the aggregate (or $ 1,380,000 in the aggregate if the underwriter’s

over-allotment option is exercised in full), at the closing of the IPO.

On June 10, 2026, the underwriter elected to terminate their over-allotment option.

completion of the Company’s initial business combination, and one warrant (“Warrants”), each Warrant entitling its

holder to purchase one Ordinary Share for $ 11.50 per share, subject to adjustment.

In addition, the Company paid the underwriter a cash

underwriting discount of $ 0.20 per Unit, or $ 1,200,000 in the aggregate (or $ 1,380,000 in the aggregate if the underwriter’s over-allotment

option is exercised in full), at the closing of the IPO.

On June 10, 2026, the underwriter elected to terminate their over-allotment

4 — PRIVATE PLACEMENTS

2 unchanged sentences

by Sponsor and 60,000 by EarlyBirdCapital, Inc., the sole underwriter in the IPO (“EBC”).

Each Unit consists of one ordinary share (“Private Shares”), one right (“Private Right”)

to receive one-fifth (1/5) of one ordinary share upon consummation of the Company’s initial Business Combination, and one warrant to purchase one ordinary share at an exercise price of $ 11.50 per share.

The proceeds from the sale of the Private Placement

Units were added to the net proceeds from the IPO held in the Trust Account.

If the Company does not complete a Business Combination

within the Combination Period, the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund

the redemption of the Public Shares (subject to the requirements of applicable law).

The Private Placement Units (including the underlying

securities) will not be transferable, assignable, or salable until the completion of a Business Combination, subject to certain exceptions.

Each Unit consists of one ordinary

share (“Private Shares”), one right (“Private Right”) to receive one-fifth (1/5) of one ordinary share upon consummation

of the Company’s initial Business Combination, and one warrant to purchase one ordinary share at an exercise price of $ 11.50 per

The proceeds from the sale of the Private Placement Units were added to the net proceeds from the IPO held in the Trust Account.

If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement

Units held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law).

The Private Placement Units (including the underlying securities) will not be transferable, assignable, or salable until the completion

of a Business Combination, subject to certain exceptions.

The Private Placement Units are identical to the Units sold in the IPO.

5 unchanged sentences

over-allotment is not exercised in full.

On June 10, 2026, EBC elected to terminate the over-allotment option and as a result an aggregate of 300,000 founder shares were forfeited

by the Sponsors.

On June 10, 2026, EBC elected to terminate the over-allotment option and as a result an aggregate

of 300,000 founder shares were forfeited by the Sponsors.

August 2, 2025, the Company issued to EBC 175,000 founder shares (“EBC founder shares”) for a purchase price of $ 0.011 per

24 unchanged sentences

These amounts are due on demand and non-interest

For three months ended March 31, 2026, the Sponsors paid $ 86,132 on behalf of the Company.

As of March 31, 2026 and December

31, 2025, the amount due to the related parties was $ 254,520 and 168,388 , respectively.

Which was fully repaid upon closing of the IPO on May 26, 2026.

As of June 30, 2026 and December 31, 2025, the amount due to

the related parties was $ 0 and 168,388 , respectively.

Note – Related Party

4 unchanged sentences

(“IPO”) or (iii) the date on which the Company determines to not proceed with such IPO.

As of March 31, 2026 and December

31, 2025, there was no amount outstanding under the Promissory Note.

The Promissory Note expired upon the consummation of the IPO on May 26, 2026.

On May 26, 2026, EBC has lend us $ 100,000 at no interest (“EBC Loan”).

The proceeds of the EBC loan were added

to the trust account in order to ensure that the amount initially deposited in the trust account is $ 10.05 per unit sold to the public

in this offering.

The EBC Loan bears no interest, and the principal

is payable only upon the consummation of the Company’s initial business combination, at which time it will be repaid out of proceeds released

to the Company from the trust account.

If the Company does not complete an initial business combination within the required period, the

EBC Loan will not be repaid from amounts held in the trust account, and such amounts (and interest earned thereon) will be distributed

to the Company’s public shareholders upon liquidation, subject to the requirements of applicable law.

of June 30, 2026 and December 31, 2025, there was $ 100,000 and $ 0 outstanding under the Promissory Note – Related Party.

Accounting Service Fee

3 unchanged sentences

– related party.

An additional service fee of $ 10,000 has been incurred upon filing the Form 8-K disclosing the consummation of the IPO.

An additional service fee of $ 10,000 has been incurred upon filing the Form 8-K disclosing the consummation of

For the three and six months ended June 30, 2026, the Company incurred $ 10,000 in service fees.

During the six

months ended June 30, 2026, the Company paid an aggregate of $ 20,000 , representing the $ 10,000 accrued as of December 31, 2025 and the

$ 10,000 incurred during the period.

As of June 30, 2026 and December 31, 2025, accrued expenses – related party were $ 0 and $ 10,000 ,

respectively.

6 – COMMITMENTS AND CONTINGENCIES

11 unchanged sentences

the expenses incurred in connection with the filing of any such registration statements.

Company granted the underwriter a 45-day option from the date of Initial Proposed Public Offering to purchase up to 900,000 additional

Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions.

The Company believes the fair

value of this option is immaterial.

addition, if EBC introduces the target business with which the Company completes a Business Combination, a fee equal to 1% of the total

If EBC introduces the target business with which the Company completes a Business Combination, a fee equal to 1% of the total

consideration payable in such Business Combination.

9 unchanged sentences

The Company has agreed to pay for these services at a fixed quarterly rate

of $ 5,250 each quarter.

each quarter.

For three months and six months ended June 30,

2026, the Company incurred an Accounting Service fee of $ 5,250 .

As of June 30, 2026 and December 31, 2025, $ 5,250 and $ 0 have been accrued

to accrued expense, respectively.

and Uncertainties

7 unchanged sentences

to the Company’s Management

Company pays Dan (Cathy) Jiang, our Chief Financial Officer, $ 2,000 per month for serving in such capacity with us commencing upon consummation

Company pays Dan (Cathy) Jiang, our Chief Financial Officer, $ 2,000

per month for serving in such capacity with us commencing upon

consummation of the IPO on May 26, 2026.

For the three months and six months ended June 30, 2026, the Company incurred an amount of $ 2,400

compensation to CFO.

Administration

on the date the Company’s securities are first listed on the Nasdaq Capital Market, Casper Holding LP is allowed to charge the

Company an allocable share of its overhead, up to $ 10,000 per month to the close of the Business Combination, to compensate it for the

Company’s use of its office, utilities and personnel.

on the date the Company’s securities are first listed on the Nasdaq Capital Market on May 22, 2026, Casper Holding LP is allowed

to charge the Company an allocable share of its overhead, up to $ 10,000

per month to the close of the Business Combination, to compensate

it for the Company’s use of its office, utilities and personnel.

For the three months and six months ended June 30, 2026,

the Company incurred an amount of $ 13,333

and $ 13,333 administration

the Company is unable to complete its Business Combination within the Combination Period, the Company will redeem 100% of the public

14 unchanged sentences

with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of

As of March 31 2026, there were no shares of preferred shares issued or outstanding.

As of June 30 2026, there were no shares of preferred shares issued or outstanding.

Shares — The Company is authorized to issue 200,000,000 ordinary shares with a par value of $ 0.0001 per share.

of ordinary shares were entitled to one vote for each share.

of March 31, 2026, there were 2,475,000 ordinary shares issued and outstanding, of which an aggregate of up to 300,000 ordinary shares

are subject to forfeiture to the extent that the underwriter’s over-allotment option is not exercised in full or in part.

As of June 30, 2026 and December 31,

2025, there were 2,437,500

and 2,475,000 ordinary shares issued and outstanding, excluding 6,000,000

ordinary shares, respectively, subject to possible redemption, which are presented as temporary equity.

— Except in cases where the Company is not the surviving company in a business combination, each holder of a public or

11 unchanged sentences

— Each Unit also includes one warrant.

Each whole warrant entitles the holder to purchase one ordinary share

at an exercise price of $ 11.50 per share, subject to adjustment.

The warrants become exercisable on the later of (i) 30 days after the

completion of the Company’s Initial Business Combination and (ii) 12 months from the closing of the IPO, and will expire five years

after the completion of the Initial Business Combination, or earlier upon redemption or liquidation.

Once the warrants become exercisable,

the Company may redeem the outstanding warrants in whole (and not in part), at a price of $ 0.01 per warrant, if the last sale price of

the Company’s ordinary shares equals or exceeds $ 18.00 per share for any 20 trading days within a 30-trading day period ending

three business days before the Company sends the notice of redemption to the warrant holders.

Each whole warrant entitles the holder to purchase one ordinary share at an exercise

price of $ 11.50 per share, subject to adjustment.

The warrants become exercisable on the later of (i) 30 days after the completion of

the Company’s Initial Business Combination and (ii) 12 months from the closing of the IPO, and will expire five years after the

completion of the Initial Business Combination, or earlier upon redemption or liquidation.

Once the warrants become exercisable, the

Company may redeem the outstanding warrants in whole (and not in part), at a price of $ 0.01 per warrant, if the last sale price of the

Company’s ordinary shares equals or exceeds $ 18.00 per share for any 20 trading days within a 30-trading day period ending three

business days before the Company sends the notice of redemption to the warrant holders.

8 — SEGMENT INFORMATION

9 unchanged sentences

Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statement

Based upon this review, the Company identify below subsequent events:

April 9, 2026, the Company made the following changes to the terms of the offering:

The Company amended the terms of the offering to include one (1) redeemable warrant in each unit, entitling the holder to purchase one

ordinary share at $ 11.50 per share.

The warrants will become exercisable on the later of (i) 30 days after the completion of the Company’s

initial business combination and (ii) 12 months from the closing of this offering, and will expire five years thereafter or earlier upon

redemption or liquidation.

Once the units begin separate trading, the warrants are expected to be listed on Nasdaq under the symbol “PECEW.”

Private Placement.

The Company amended the terms of the private placement to increase the Sponsors’ private unit purchases

from 192,500 to 202,500 units, while EBC’s purchase of 60,000 private units remains unchanged.

In aggregate, the Sponsors and EBC

will purchase 262,500 private units at $ 10.00 per unit for total proceeds of $ 2,625,000 (increased from $ 2,525,000 ).

Our sponsors and

EBC have also agreed that if the over-allotment option is exercised by the underwriter in full or in part, they and/or their designees

will purchase from us up to an additional 22,500 private units ( 17,357 private units to be purchased by our sponsors and 5,143 private

units to be purchased by EBC or its designees) on a pro rata basis at a price of $ 10.00 per unit in an amount that is necessary to maintain

in the trust account $ 10.05 per unit sold to the public in this offering.

EBC has agreed to lend the Company $ 100,000 as of the closing date of this offering at no interest.

The proceeds of the EBC

loan will be added to the trust account in order to ensure that the amount initially deposited in the trust account is $ 10.05 per unit

sold to the public in this offering.

If the Company do not complete an initial business combination, the Company will not repay the EBC

loan from amounts held in the trust account, and its proceeds will be used to fund the redemption of our public shares (subject to the

requirements of applicable law).

May 26, 2026, the Company consummated the IPO of 6,000,000 units (the “Units” and, with respect to the ordinary share included

in the Units being offered, the “Public Shares”) at $ 10.00 per Unit (or 6,900,000 Units if the underwriter’s over-allotment

option is exercised in full), and the sale of 262,500 Units (the “Private Placement Units”) at a price of $ 10.00 per Private

Placement Unit in private placements to the Sponsors that was closed simultaneously with the IPO.

On June 10, 2026, EBC elected to terminate the over-allotment option and as a result an aggregate of 300,000 founder

shares were forfeited by the Sponsors.

Based upon this review, the Company has not identify any subsequent events.

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.

What changed 10-Q

Item 1. Financial Statements