FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR For the transition period fromto (Former name or former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934: None Securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934 Common stock, par value $0.0001 per shareRedeemable Warrants, each exercisable for one-half of one share of Common Stock at an exercise price of $11.50 per whole shareRights, entitling the holder to receive one-tenth of one share of Common Stock upon consummation of a business combinationUnits, each consisting of one share of Common Stock, one redeemable warrant and one right Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company Accelerated filerSmaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ As of February 23, 2026, 2,289,246 shares of Common Stock were issued and outstanding. TABLE OF CONTENTS PART I.FINANCIAL INFORMATION1Item 1.Unaudited Condensed Consolidated Financial Statements1Unaudited Condensed Consolidated Balance Sheets as of December 31, 2025 and March 31, 20251Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended December31, 2025 and 20242Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the three and ninemonths ended December 31, 2025 and 20243Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2025and 20244Notes to Unaudited Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk31Item 4.Controls and Procedures31PART II.OTHER INFORMATION32Item 1.Legal Proceedings32Item 1A.Risk Factors32Item 2.Unregistered Sales of Equity Securities and Use of Proceeds32Item 3.Defaults Upon Senior Securities32Item 4.Mine Safety Disclosures32Item 5.Other Information32Item 6.Exhibits32SIGNATURES33i CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS Some statements contained in this Quarterly Report on Form 10-Q (the “Form 10-Q”) are forward-looking in nature. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs,intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations offuture events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,”“believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,”“should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not meanthat a statement is not forward-looking. Forward-looking statements in this Form 10-Q may include, for example, statements about: ●our ability to complete our initial business combination;●our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initialbusiness combination;●our officers and directors allocating their time to other businesses and potentially having conflicts of interest with ourbusiness or in approving our initial business combination;●our potential ability to obtain additional financing to complete our initial business combination;●our pool of prospective target busine