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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Measurements  
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

 

 

As of December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Investments held in Trust Account

 

$235,933,496

 

 

$

 

 

$

 

 

$235,933,496

 

Total

 

$235,933,496

 

 

$

 

 

$

 

 

$235,933,496

 

 

 

As of December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability – Public Warrants

 

$230,000

 

 

$

 

 

$

 

 

$230,000

 

Warrant liability - Private Placement Warrants

 

 

 

 

 

146,900

 

 

 

 

 

 

146,900

 

Total

 

$230,000

 

 

$146,900

 

 

$

 

 

$376,900

 

 

 

As of December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability – Public Warrants

 

$345,000

 

 

$

 

 

$

 

 

$345,000

 

Warrant liability - Private Placement Warrants

 

 

 

 

 

220,350

 

 

 

 

 

 

220,350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$345,000

 

 

$220,350

 

 

$

 

 

$565,350

 

 

 

Convertible promissory note – Prior Sponsor Working Capital Loan

 

 

Private Placement Warrants

 

 

Total

 

Fair value at  December 31, 2022

 

$-

 

 

$220,350

 

 

$220,350

 

Proceeds from drawdown – cash value

 

 

158,968

 

 

 

-

 

 

 

158,968

 

 Change in fair value of Private Placement Warrants

 

 

 

 

 

 

 (73,450

)

 

 

 (73,450

 Transfer of Private Placement Warrants from Level 3 to Level 2

 

 

 

 

 

 

 (146,900

)

 

 

 (146,900

)

Change in fair value of convertible note

 

 

(99,976 )

 

 

-

 

 

 

(99,976 )

Forgiveness of convertible note moved to additional paid in capital

 

 

(58,992 )

 

 

-

 

 

 

(58,992 )

Fair value at December 31, 2023

 

$-

 

 

$-

 

 

$-

 

 

 

Private Placement Warrants

 

Fair value at  December 31, 2021

 

$3,819,400

 

Change in fair value of Private Placement Warrants

 

 

(3,599,050 )

Transfer of Private Placement Warrants from Level 3 to Level 2

 

 

 (220,350

Fair value at December 31, 2022

 

$-

 

Schedule Of fair value of financial instruments that are measured

 

 

July 6,

2023

 

 

July 7,

2023

 

 

July 13,

2023

 

 

July 13,

2023

 

Conversion price

 

$1.00

 

 

$1.00

 

 

$1.00

 

 

$1.00

 

Private warrant price

 

$0.03

 

 

$0.03

 

 

$0.03

 

 

$0.03

 

Volatility

 

 

3.20%

 

 

3.20%

 

 

3.20%

 

 

3.20%

Term

 

 

1.29

 

 

 

1.28

 

 

 

1.27

 

 

 

1.27

 

Risk-free rate

 

 

5.31%

 

 

5.28%

 

 

5.09%

 

 

5.43%

Dividend yield

 

 

0.00%

 

 

0.00%

 

 

0.00%

 

 

0.00%

Number of steps

 

 

50

 

 

 

50

 

 

 

50

 

 

 

50

 

Drawdown amount – cash value

 

$39,585

 

 

$19,602

 

 

$98,089

 

 

$1,692

 

Fair value

 

$1,090

 

 

$540

 

 

$2,717

 

 

$47

 

Schedule of assumptions

 

 

September 6,

2023

 

Conversion price

 

$1.00

 

Private warrant price

 

$0.07

 

Volatility

 

 

3.30%

Term

 

 

1.12

 

Risk-free rate

 

 

5.39%

Dividend yield

 

 

0.00%

Number of steps

 

 

50

 

Total drawdowns date of forgiveness – cash value

 

$158,968

 

Fair value

 

$58,992