Generation Asia I Acquisition Limited Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies Basis of Presentation (Tables)

Significant Accounting Policies Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Reconciliation of Numerator and Denominator used to Compute Basic and Diluted Net Income Per Share

The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income per share for each class of ordinary shares.


	For the Year Ended December 31, 2023				For the Year Ended December 31, 2022
	Class A		Class B		Class A		Class B
Basic and diluted net income per ordinary share
Numerator:
Allocation of net income	$	4,718,162	$	2,249,776	$	7,181,093	$	2,606,006
Denominator
Weighted-average shares outstanding		15,692,073		7,482,500		20,505,808		7,441,521
Basic and diluted net income per ordinary share	$	0.30	$	0.30	$	0.35	$	0.35

Reconciliation of Class A Ordinary Shares

As of December 31, 2023 and 2022, the amount of Class A ordinary shares reflected on the balance sheets are reconciled in the following table:


Gross Proceeds	$	219,300,000
Less:
Proceeds Allocated to Public Warrants		(5,372,850	)

Class A ordinary shares issuance cost		(20,937,928	)
Add:
Re-measurement of carrying value to redemption value		32,095,586

Class A ordinary shares subject to redemption, December 31, 2022	$	225,084,808
Less:
Redemption of Class A ordinary shares		(149,750,540	)
Add:
Re-measurement of carrying value to redemption value		8,520,553

Class A ordinary shares subject to redemption, December 31, 2023	$	83,854,821