XML 34 R22.htm IDEA: XBRL DOCUMENT v3.22.2.2
Fair Value Measurements (Tables)
12 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities that are measured at fair value on a recurring basis
Description  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 - U.S. Treasury Securities  $23,454,494   $          -   $- 
Liabilities:               
Derivative warrant liabilities - Public  $402,500   $-   $- 
Derivative warrant liabilities - Private  $-   $-   $663,000 

 

Description  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 - U.S. Treasury Securities  $116,760,907   $          -   $- 
Liabilities:               
Derivative warrant liabilities - Public  $3,507,500   $-   $- 
Derivative warrant liabilities - Private  $-   $-   $3,635,450 

 

Schedule of regarding level 3 fair value measurements
   As of
June 30,
2021
   As of
June 30,
2022
 
Volatility   13%   2.9%
Stock price  $9.93   $10.15 
Probability of Business Combination   80%   40%
Expected life of the options to convert   5.46    5.46 
Risk-free rate   0.9%   3.0%
Dividend yield   0.0%   0.0%

 

Schedule of fair value of the derivative warrant liabilities
Derivative warrant liabilities - Level 3, at June 30, 2021 - Level 3  $3,635,450 
Change in fair value of derivative warrant liabilities, Level 3   (2,972,450)
Derivative warrant liabilities - Level 3, at June 30, 2022 - Level 3  $663,000 
      
Derivative warrant liabilities at June 30, 2020  $- 
Issuance of Public and Private Warrants, Level 3 measurements   7,595,400 
Transfer of Public Warrants to Level 1   (2,461,000)
Change in fair value of derivative warrant liabilities, Level 3   (1,498,950)
Derivative warrant liabilities - Level 3, at June 30, 2021 - Level 3  $3,635,450