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Subsequent Events
9 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

Note 8 — Subsequent Events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date when these unaudited condensed financial statements were issued. Based on this review, except as disclosed below, the Company did not identify any other subsequent events that would require adjustment or disclosure in the financial statements.

 

On July 1, 2024, the effective date of the registration statement of the IPO, the Sponsor transferred an aggregate of 30,000 of its Founder Shares, or 10,000 each to its three independent directors for their board service, for nominal cash consideration, of $522.

 

On July 3, 2024, the Company consummated its IPO of 5,000,000 Units at an offering price of $10.00 per Unit, generating total gross proceeds of $50,000,000. Simultaneously with the closing of the IPO, the Company consummated the private placement of 216,750 Initial Private Placement Units to the Sponsor, at a price of $10.00 per Initial Private Placement Unit, generating total proceeds of $2,167,500.

 

On July 3, 2024, the underwriter notified the Company of its exercise of the over-allotment option in full to purchase an additional 750,000 Option Unit. As a result, on July 8, 2024, 750,000 Option Units were sold to the underwriter at an offering price of $10.00 per Option Unit generating gross proceeds of $7,500,000. Concurrently with the underwriter’s exercise of such option, the Company completed a private placement sale of additional 11,250 Additional Private Units to the Sponsor at a purchase price of $10.00 per Additional Private Unit, generating gross proceeds of $112,500.

 

On July 3, 2024, the Company repaid the outstanding loan balance of $481,511 to the Sponsor upon the closing of the IPO.