SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of reconciliation of Class A common stock reflected on the balance sheet

At June 30, 2022 and December 31, 2021, the Class A common stock reflected in the condensed balance sheets are reconciled in the following table:

Gross proceeds	$	230,000,000
Less:
Class A common stock issuance costs		(9,770,532)
Proceeds allocated to Public Warrants		(13,107,291)
		(22,877,823)
Plus:
Accretion of carrying value to redemption value		22,877,823
Class A common stock subject to possible redemption, December 31, 2021		230,000,000
Accretion of carrying value to redemption value		81,857
Class A common stock subject to possible redemption, June 30, 2022	$	230,081,857

Reconciliation of Net Loss per Common Share

The following table reflects the calculation of basic and diluted net income (loss) per common stock (in dollars, except per share amounts):

	Three Months Ended				Three Months Ended
	June 30, 2022				June 30, 2021
	Class A		Class B		Class A		Class B
Basic and diluted net loss per share of common stock Numerator:
Allocation of net loss, as adjusted	$	(595,385)	$	(148,846)		(343,797)	$	(181,887)
Denominator: Basic and diluted weighted average shares outstanding		23,000,000		5,750,000		10,868,132		5,750,000
Basic and diluted net loss per share of common stock	$	(0.03)	$	(0.03)		(0.03)	$	(0.03)

	Six Months Ended				Six Months Ended
	June 30, 2022				June 30, 2021
	Class A		Class B		Class A		Class B
Basic and diluted net income (loss) per share of common stock Numerator:
Allocation of net income (loss), as adjusted	$	4,030,819	$	1,007,705		(259,113)	$	(271,204)
Denominator: Basic and diluted weighted average shares outstanding		23,000,000		5,750,000		5,494,444		5,750,000
Basic and diluted net income (loss) per share of common stock	$	0.18	$	0.18		(0.05)	$	(0.05)