Overview

We are a blank check company incorporated as a Cayman Islands exempted company. Our purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While we intend to focus our search on businesses in Asia, we are not limited to a particular industry or geographic region. We have not selected any specific business combination target and have not initiated any substantive discussions with any potential target.

Results of Operations

We have not engaged in any operations or generated any revenues to date. Our activities since inception have been organizational, preparing for the IPO, and identifying a target company for our initial Business Combination. We do not expect to generate any operating revenues until after completing our initial Business Combination. We expect to generate non-operating income in the form of interest on investments held after the IPO. We also expect to incur increased expenses as a public company and for due diligence related to finding and completing a Business Combination.

For the period from May 27, 2024 (inception) through December 31, 2024, we had net income of $475,489. This consisted of a $281,186 loss from formation and operating costs, offset by $752,079 in interest earned on investments held in the Trust Account and $4,596 in bank interest income.

Liquidity, Capital Resources and Going Concern

On September 23, 2024, we completed our IPO of 6,000,000 Units at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously, we sold 230,000 Private Placement Units at $10.00 per unit to our Sponsors, generating $2,300,000.

After the IPO and private placement, $60,000,000 was placed in the Trust Account. We incurred $3,722,528 in transaction costs, including $1,200,000 in cash underwriting fees, $2,100,000 in deferred underwriting fees, and $422,528 in other offering costs.

As of December 31, 2025, we had $60,752,079 held in the Trust Account and $465,254 in cash. We intend to use the Trust Account funds to complete our Business Combination, with any remaining amounts used as working capital.

Management believes we may have insufficient funds to operate prior to our initial Business Combination. Our Sponsors, officers, directors or affiliates may loan us funds on a non-interest bearing basis if needed. However, there is no guarantee we will receive such loans. If we are unable to complete a Business Combination within the Combination Period, our board would proceed with a voluntary liquidation and dissolution.

Based on these factors, there is substantial doubt about our ability to continue as a going concern.

Other Contractual Obligations

We have an agreement to pay $10,000 per month to our Sponsor or affiliate for office space, utilities and administrative support, which began on September 19, 2024 and will continue until our Business Combination or liquidation.

The underwriters are also entitled to a 3.5% deferred underwriting discount, or $2,100,000, payable upon the closing of our initial Business Combination.

Registration Rights

The holders of our Founder Shares, EBC founder shares, and Private Placement Units will have registration rights allowing them to register these securities for resale, subject to certain limitations.

Critical Accounting Policies and Estimates

Our financial statements are prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions affecting reported amounts. We have not identified any critical accounting estimates, and all significant accounting policies are described in Note 2 of the financial statements.

Recent Accounting Standards

We adopted ASU 2023-07 on segment reporting during the year ended December 31, 2024, which did not have a material impact on our financial statements. We do not believe any other recently issued accounting standards will have a material effect on our financials.