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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 11. SUBSEQUENT EVENTS

 

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

 

Directors and Officers (“D&O“) Insurance Financing Agreement 

 

On August 2, 2023, the Company entered into a Premium Finance Security Agreement with First Insurance Funding. Per the terms of the agreement, the Company agreed to finance its D&O insurance premium with a financing charge of $6,886. The total amount due of $254,180 will be paid in 10 monthly installments, with the first installment due August 28, 2023.