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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2022
FAIR VALUE MEASUREMENTS  
Schedule of company's assets and derivative warrant liabilities that are measured at fair value on a recurring basis

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December 31,2022

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Quoted Prices in

    

Significant Other

    

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Significant Other

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​

Active Markets

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Observable Inputs

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Unobservable Inputs

Description

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(Level 1)

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(Level 2)

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(Level 3)

Asset:

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​

​

​

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​

​

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Investments  held in Trust Account

 

$

29,029,416

 

$

—

 

$

—

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​

​

​

​

​

​

​

​

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Warrant Liabilities:

​

​

​

​

​

​

​

​

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Public Warrants

 

$

345,000

 

$

—

 

$

—

Private Placement Warrants

 

$

—

 

$

—

 

$

17,558

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​

​

​

​

​

December 31,2021

​

    

Quoted Prices in

    

Significant Other

    

Significant Other

​

​

Active Markets

​

Observable Inputs

​

Unobservable Inputs

Description

​

(Level 1)

​

(Level 2)

​

(Level 3)

Asset:

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​

​

​

​

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​

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Investments held in Trust Account

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$

117,320,973

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$

—

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$

—

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​

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Warrant Liabilities:

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Public Warrants

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$

4,600,000

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$

—

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$

—

Private Placement Warrants

​

$

—

​

$

—

​

$

251,668

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Schedule of quantitative information regarding Level 3 fair value measurements inputs

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December 31,2022

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December 31,2021

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(Private Warrants)

    

(Private Warrants)

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Exercise price

 

$

11.50

​

$

11.50

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Share price

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$

10.44

 

$

10.10

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Expected term (years)

​

​

5.12

 

​

5.36

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Probability of Acquisition

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​

2.75

%  

​

100.0

%

Volatility

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​

4.2

%  

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7.4

%

Risk-free rate

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​

3.91

%  

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1.28

%

Dividend yield (per share)

​

$

0.00

​

$

0.00

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Schedule of change in the fair value of the warrant liabilities

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Private Warrants

    

Public Warrants

    

Total Warrant Liability

Fair value as of February 8, 2021(inception)

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$

—

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$

—

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$

—

Change in valuation inputs or other assumptions(1)

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​

251,668

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​

4,600,000

​

​

4,851,668

Fair value as of December 31, 2021

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​

251,668

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​

4,600,000

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​

4,851,668

Change in valuation inputs or other assumptions(1)

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(234,110)

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(4,255,000)

 

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(4,489,110)

Fair value as of December 31, 2022

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$

17,558

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$

345,000

 

$

362,558

(1)Changes in valuation inputs or other assumptions are recognized in the change in fair value of warrant liability in the consolidated statement of operations.