Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Schedule of Information about Company's Asset And Liabilities Measured at Fair Value :

 

June 30, 2023

 

 

Quoted Prices
In Active
Markets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Other
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Investments held in Trust Account

 

$

230,206,581

 

 

$

230,206,581

 

 

$

 

 

$

 

 

 

$

230,206,581

 

 

$

230,206,581

 

 

$

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability—Public Warrants

 

$

436,407

 

 

$

436,407

 

 

$

 

 

$

 

Warrant liability—Private Warrants

 

 

293,684

 

 

 

 

 

 

293,684

 

 

 

 

 

$

730,091

 

 

$

436,407

 

 

$

293,684

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

Quoted Prices
In Active
Markets
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Other
Unobservable
Inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Investments held in Trust Account

 

$

225,084,808

 

 

$

225,084,808

 

 

$

 

 

$

 

 

 

$

225,084,808

 

 

$

225,084,808

 

 

$

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability—Public Warrants

 

$

482,460

 

 

$

482,460

 

 

$

 

 

$

 

Warrant liability—Private Warrants

 

 

324,676

 

 

 

 

 

 

324,676

 

 

 

 

 

$

807,136

 

 

$

482,460

 

 

$

324,676

 

 

$

 

Summary of Changes in Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis :

 

Private
Placement
Warrants

 

 

Public
Warrants

 

 

Warrant
Liabilities

 

 

Over-allotment
Liability

 

Fair value at March 3, 2021 (inception)

 

$

 

 

$

 

 

$

 

 

$

 

Initial measurement of public and private warrant at January 24, 2022

 

 

3,332,000

 

 

 

4,900,000

 

 

 

8,232,000

 

 

 

 

Initial measurement of over-allotment option at January 24, 2022

 

 

 

 

 

 

 

 

 

 

 

510,000

 

Initial measurement of public and private warrants issued in connection with the exercise of over-allotment option at February 1, 2022

 

 

283,710

 

 

 

472,850

 

 

 

756,560

 

 

 

 

Public Warrants fair value changes from Level 3 to Level 1 at March 31, 2022

 

 

 

 

 

(3,618,450

)

 

 

(3,618,450

)

 

 

 

Forfeiture of over-allotment option

 

 

 

 

 

 

 

 

 

 

 

(510,000

)

Private Placement Warrants fair value changes from Level 3 to Level 2 at June 30, 2022

 

 

(1,438,905

)

 

 

 

 

 

(1,438,905

)

 

 

 

Fair value changes of warrants

 

 

(2,176,805

)

 

 

(1,754,400

)

 

 

(3,931,205

)

 

 

 

Fair value at December 31, 2022

 

$

 

 

$

 

 

$

 

 

$

 

Lattice Model  
Summary of Key Inputs for Warrants Liability

The key inputs into the Lattice Model for the Public Warrants liability were as follows at initial measurement:

Input

 

January 24,
2022

 

Risk-free interest rate

 

 

1.37

%

Expected term (years)

 

 

5.33

 

Expected volatility

 

 

9.2

%

Black-Scholes Model  
Summary of Key Inputs for Warrants Liability

The key inputs into the Black-Scholes model for the Private Warrants liability were as follows at initial measurement:

 

Input

 

January 24,
2022

 

Risk-free interest rate

 

 

1.37

%

Expected term (years)

 

 

5.33

 

Expected volatility

 

 

9.2

%

Exercise price

 

$

11.5

 

Dividend yield

 

 

0.00

%