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Consolidated balance sheets

In millions of USD, except per-share amounts
Q2 FY2024
As of Jun 30, 2025
Q1 FY2024
As of Mar 31, 2025
Q4 FY2023
As of Dec 31, 2024
Q3 FY2023
As of Sep 30, 2024
Q2 FY2023
As of Jun 30, 2024
Q1 FY2023
As of Mar 31, 2024
Q4 FY2022
As of Dec 31, 2023
Q3 FY2022
As of Sep 30, 2023
Q2 FY2022
As of Jun 30, 2023
Q1 FY2022
As of Mar 31, 2023
Q4 FY2021
As of Dec 31, 2022
Q3 FY2021
As of Sep 30, 2022
Q2 FY2021
As of Jun 30, 2022
Q1 FY2021
As of Mar 31, 2022
Q4 FY2020
As of Dec 31, 2021
ASSETS
Current Assets:
Cash
Prepaid expenses
Total Current Assets
Other assets
Cash and Investments held in the Trust Account
Total Assets
LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable and accrued expenses
Advances from related parties
Accrued offering costs
Convertible promissory notes - related parties
Total Current Liabilities
Derivative liabilities
Deferred underwriting commission
Total Liabilities
Class A ordinary shares subject to possible redemption; 2,640,370 and 7,129,558 shares (at redemption value of $12.00 and $11.68 per share as of June 30, 2025 and December 31, 2024, respectively)
Shareholders’ deficit:
Ordinary shares, value, issued
Additional paid-in capital
Accumulated deficit
Total Shareholders’ Deficit
Total Liabilities, Ordinary Shares subject to Possible Redemption and Shareholders’ Deficit

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