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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

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

 

Description  Amount at
Fair Value		   Level 1   Level 2   Level 3 
December 31, 2022                    
Liabilities                    
Warrant liability – Public Warrants  $451,038   $451,038   $—   $— 
Warrant liability – Private Placement Warrants  $400,623   $—   $400,623   $— 

 

Description  Amount at
Fair Value		   Level 1   Level 2   Level 3 
December 31, 2021                    
Assets                    
Investments held in Trust Account:                    
U.S. government treasury obligations  $182,248,837   $182,248,837   $—   $— 
Liabilities                    
Warrant liability – Public Warrants  $3,969,130   $3,969,130   $—   $— 
Warrant liability – Private Placement Warrants  $3,525,478   $—   $3,525,478   $— 
The following table provides the significant unobservable inputs used in the binomial/lattice model for the initial valuation of the Public Warrants and Private Placement Warrants as of July 30, 2021:

The following table provides the significant unobservable inputs used in the binomial/lattice model for the initial valuation of the Public Warrants and Private Placement Warrants as of July 30, 2021:

 

   As of July 30,
2021 (Initial
Measurement)		 
Stock price  $9.47 
Exercise price  $11.50 
Dividend yield   —%
Expected term (in years)   5.5 
Volatility   20.0%
Risk-free rate   0.80%
Fair value  $0.95 
The following table provides a summary of the changes in the fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis:

The following table provides a summary of the changes in the fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis:

 

Fair value as of March 1, 2021  $ — 
Initial measurement of Public Warrants and Private Placement Warrants as of July 30, 2021   15,770,000 
Initial measurement of Public Warrants and Private Placement Warrants upon exercise of over-allotment on August 20, 2021   411,541 
Transfer of Public Warrants to Level 1 measurement   (4,780,998)
Transfer of Private Placement Warrants to Level 2 measurement   (4,246,599)
Change in fair value   (7,153,944)
Fair value as of December 31, 2021   — 
Fair value as of December 31, 2022  $—