XML 32 R14.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Private Placement
3 Months Ended
Mar. 31, 2024
Private Placement  
Private Placement

Note 5 — Private Placement

 

Substantially concurrently with the closing of the IPO, the Company completed the private sale of 545,500 Private Placement Shares, comprised of 505,500 shares sold to the Sponsor and 40,000 shares sold to the Representatives, at a purchase price of $10.00 per Private Placement Share, generating gross proceeds to the Company of $5,455,000. The Private Placement Shares are identical to the public shares, except that the holders have agreed not to transfer, assign or sell any of the Private Placement Shares (except to certain permitted transferees) until 30 days after the completion of the Company’s initial Business Combination.