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Fair Value of Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value of Measurements  
Schedule of assets and liabilities that are measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2022 and 2021 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

December 31,2022

    

    

Significant 
Other

    

Significant 
Other

Quoted Prices in
Active Markets

Observable 
Inputs

Unobservable 
Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Assets - Investments held in Trust Account(1)

 

  

 

  

 

  

U.S. Treasury securities

$

172,885,459

$

$

Money market funds(1)

$

602,742

$

$

Liabilities

 

  

 

  

 

  

Derivative Warrant liability - Private warrants

$

$

$

424,940

December 31,2021

    

    

Significant 

Significant 

Other

Other

Quoted Prices in

Observable 

Unobservable 

Active Markets

Inputs

Inputs

Description

    

(Level 1)

    

(Level 2)

    

(Level 3)

Assets - Investments held in Trust Account(1)

 

  

 

  

  

U.S. Treasury securities

$

171,656,153

$

$

Liabilities

Derivative Warrant liability - Private warrants

$

$

$

5,571,410

Schedule of quantitative information regarding Level 3 fair value measurements inputs

    

December 31,

    

December 31, 

    

2022

    

2021

Exercise price

    

$

11.50

$

11.50

Share price

$

9.95

$

9.69

Expected term (years)

5.40

5.98

Volatility

5.50

%

16.20

%

Risk-free rate

3.98

%

1.35

%

Probability of completion of Business Combination

10.00

%

100.00

%

Dividend yield (per share)

0.00

%

0.00

%

Schedule of change in the fair value of the derivative warrant liabilities, measured using Level 3 inputs

Derivative warrant liability at January 28, 2021 (inception)

    

$

Issuance of Private Placement Warrants

10,551,330

Issuance of Private Placement Warrants (over-allotment)

685,920

Change in fair value of derivative warrant liability

(5,665,840)

Derivative warrant liability at December 31, 2021

$

5,571,410