XML 31 R20.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Schedule of Net Income Per Share after Allocating Income Between the Shares Based on Outstanding Shares

The following table reflects the net income per ordinary share after allocating income between the shares based on outstanding shares.

 

  

For the three months ended

June 30, 2024

  

For the three months ended

June 30, 2023

 
   Class A   Class B   Class A   Class B 
Numerator:                    
Allocation of (loss) income – basic and diluted  $(1,526,000)  $(1,665,000)  $470,000   $486,000 
Denominator:                    
Weighted average ordinary shares outstanding – basic and diluted   3,390,000    3,700,000    4,845,000    5,000,000 
Net (loss) income per ordinary share – basic and diluted  $(0.45)  $(0.45)  $0.10   $0.10 

 

 

  

For the six months ended

June 30, 2024

  

For the six months ended

June 30, 2023

 
   Class A   Class B   Class A   Class B 
Numerator:                    
Allocation of (loss) income – basic and diluted  $(1,525,000)  $(1,665,000)  $1,071,000   $432,000 
Denominator:                    
Weighted average ordinary shares outstanding – basic and diluted   3,390,000    3,700,000    12,381,000    5,000,000 
Net (loss) income per ordinary share – basic and diluted  $(0.45)  $(0.45)  $0.09   $0.09 

Schedule of Class A Ordinary Shares Subject to Redemption

 

   Dollars   Shares 
Gross proceeds of Public Offering  $200,000,000    20,000,000 
Less: Proceeds allocated to Public Warrants   (7,900,000)   
Offering costs   (11,234,000)    
Plus: Remeasurement of carrying value to redemption value at Public Offering date   23,134,000     
Subtotal at the date of the Public Offering and at December 31, 2021   204,000,000    20,000,000 
Plus: Remeasurement of carrying value to redemption value at December 31, 2022   2,946,000     
Subtotal at December 31, 2022   206,946,000    20,000,000 
Less: Payments to shareholders who elected to redeem 17,910,004 Class A Ordinary Shares in connection with the Extension on or around April 21, 2023   (187,475,000)   (17,910,004)
Plus: Remeasurement of carrying value to redemption value at December 31, 2023   3,419,000     
Subtotal at December 31, 2023   22,890,000    2,089,996 
Plus: Remeasurement of carrying value to redemption value at June 30, 2024   736,000     
Class A Ordinary Shares subject to redemption at June 30, 2024 (unaudited)  $23,626,000    2,089,996