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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2023
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 11. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date that the financial statements were issued. Based upon this review, other than below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

On March 24, 2023, a special meeting was held where the Company approved the Extension Amendment, extending the date by which the Company must consummate a business combination. In connection the stockholders of record were provided the opportunity to exercise their redemption rights. Holders of 7,391,973 shares of Class A common stock exercised their right to redemption at a per share redemption price of approximately $10.29. Subsequent to March 31, 2023, a total of $76,054,240 in redemption payments were made in connection with this redemption. Following the redemption, the Company had a total of 4,108,027 shares of Class A common stock outstanding. In connection with this redemption the Company will be subject to 1% excise tax on the value of the redemption amount.

On May 5, 2023 and May 22, 2023 the Company made additional draw downs on the Director Promissory Note of $200,000 and $80,000, respectively. On May 25, 2023 the Company Sponsor provided an additional $80,000 to cover working capital expenses.