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FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2023
FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured at fair value

    

    

June 30, 

    

December 31, 

Description:

Level

2023

2022

Liabilities:

 

  

 

Warrant liability - Private Placement Warrants

 

2

712,140

 

264,000

Warrant liability - Public Warrants

2

$

1,240,850

$

460,000

Forward Purchase Liability

3

$

7,002,759

$

1,459,534

Schedule of change in the fair value of the warrant liabilities

    

Fair Value

Measurement

Using Level 3

Forward purchase liability

    

Inputs Total

Balance, December 31, 2022

$

1,459,534

Change in fair value of forward purchase asset/liability

 

5,543,225

Balance, June 30, 2023

$

7,002,759

Schedule of quantitative information regarding fair value measurements inputs

    

June 30, 2023

    

December 31, 2022

    

Risk-free interest rate

4.06

%

3.98

%

Stock price

$

10.88

$

9.95

Expected life of grants

5.0

years

5.69

years

Expected volatility of underlying stock

4.0

%

3.0

%

Dividends

0

%

0

%