Overview

We are a blank check company incorporated in the Cayman Islands on February 24, 2026, with the purpose of completing an Initial Business Combination. We intend to use the proceeds from our Initial Public Offering and the sale of Private Placement Units to fund this business combination, which may involve a combination of cash, shares, and debt.

Results of Operations

As a newly formed company, we have not engaged in any operations or generated any revenue to date. Our activities have been limited to organizational tasks and preparations for the Initial Public Offering. We expect to incur significant costs in our pursuit of a business combination, but we cannot assure that our plans will be successful.

For the three months ended June 30, 2026, we reported a net loss of $928,080, consisting of $68,045 in formation, general, and administrative costs, as well as $860,035 in share-based compensation expense. For the period from February 24, 2026 (inception) through June 30, 2026, our net loss was $932,622, with the same components.

Liquidity and Capital Resources

Prior to the Initial Public Offering, our only source of liquidity was an initial purchase of Class B ordinary shares by our Sponsor and loans from the Sponsor. As of June 30, 2026, we had no cash and a working capital deficit of $384,743.

Subsequent to the quarterly period, on July 6, 2026, we completed the Initial Public Offering of 23,000,000 Units at $10.00 per Unit, generating gross proceeds of $230,000,000. We also sold 610,000 Private Placement Units at $10.00 per unit, raising an additional $6,100,000. A total of $230,000,000 from the net proceeds was placed in a Trust Account.

For the period from February 24, 2026 (inception) through June 30, 2026, our net cash used in operating activities was $0. Our net loss of $932,622 was offset by $860,035 in share-based compensation expense and $12,420 in promissory note payments to the Sponsor.

We intend to use the funds held in the Trust Account to complete our Business Combination. The remaining funds held outside the Trust Account will be used for working capital, due diligence, and other transaction costs.

Going Concern Consideration

As of June 30, 2026, we had no cash and a working capital deficit of $384,743. We have 24 months to consummate the Initial Business Combination, and if we do not, we will wind up, dissolve, and liquidate. There is no assurance that our plans to complete the Business Combination will be successful within this timeframe.

Off-Balance Sheet Arrangements and Contractual Obligations

We have no off-balance sheet arrangements as of June 30, 2026. Our only contractual obligation is an agreement to reimburse an affiliate of the Sponsor, KingsRock, up to $30,000 per month for office space, utilities, and administrative support until the completion of the Initial Business Combination or our liquidation.

The underwriters of the Initial Public Offering were paid a cash discount of $4,600,000 and are entitled to a deferred underwriting discount of $9,200,000 upon the completion of the Initial Business Combination.

Critical Accounting Estimates and Policies

The critical accounting policy we have identified is our treatment of share-based payment arrangements. We account for share awards in accordance with FASB ASC Topic 718, recognizing the fair value of the awards ratably over the requisite service period.