Subsequent Events

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 7 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were issued. Based on the Company’s review, except as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.

Since March 31, 2024 through the date of this Report, an aggregate of $59,918 has been deposited into the Trust Account pursuant to borrowings under the Second Extension Promissory Note for each month that has been needed to complete a Business Combination. In each of April and May 2024, $29,959 was deposited into the Trust Account pursuant to borrowings under the Second Extension Promissory Note.

The Cartesian Escrow Parties (as defined in the Flybondi Business Combination Agreement) have funded $900,000 in escrow for the payment of the Company’s Excise Tax liability. Such amount was released to the Company on April 30, 2024 solely for the purpose of the Company paying the Excise Tax liability and (i) under conditions as stipulated in the Flybondi Business Combination Agreement and (ii) is being held by the Company in a segregated bank account.