FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2023

FAIR VALUE MEASUREMENTS [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level		June 30, 2023		December 31, 2022
Assets:
Money Market		1	$	3,027	$	—
Cash and marketable securities held in Trust Account		1	$	43,679,931	$	297,619,343
Liabilities:
Warrant liability – Public Warrants		1		287,500		287,500
Warrant liability – Private Placement Warrants		3		260,000		260,000

Level 3 Fair Value Measurement Inputs

The following table provides quantitative information regarding Level 3 fair value measurements:

	June 30, 2023				December 31, 2022
Stock price		$	10.65		$	10.26
Exercise price		$	11.50		$	11.50
Expected term (in years)			5.0			5.0
Volatility	immaterial			%		5.9	%
Risk-free rate			5.38	%		4.69	%
Dividend yield			0.0	%		0.0	%

Changes in Fair Value of Level 3 Warrant Liabilities

The following table presents the changes in the fair value of Level 3 warrant liabilities:

	Private Placement			Public			Warrant Liabilities
Initial measurement on January 25, 2022	$	6,370,000		$	7,043,750		$	13,413,750
Change in fair value		(6,110,000	)		(4,168,750	)		(10,278,750	)
Transfer to Level 1		—			(2,875,000	)		(2,875,000	)
Fair value as of December 31, 2022	$	260,000		$	—		$	260,000
Change in fair value		130,000			—			130,000
Fair value as of March 31, 2023	$	390,000		$	—		$	390,000
Change in fair value		(130,000	)		—			(130,000	)
Fair value as of June 30, 2023	$	260,000		$	—		$	260,000