COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

10 Months Ended

Dec. 31, 2021

Common Stock Subject To Possible Redemption

COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

NOTE 7 – COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

The Company’s common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, common stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.

The following is a reconciliation of the Company’s common stock subject to possible redemption as of December 31, 2021.

	Common Shares Subject to Possible Redemption
Gross proceeds from initial public offering	$	115,000,000
Less:
Offering costs allocated to common stock subject to possible redemption		(6,498,541	)
Proceeds allocated to public warrants		(2,357,500	)
Plus:
Deposit to Trust Account from private placement		1,150,000
Accretion on common stock subject to possible redemption		8,856,041
Balance, December 31, 2021	$	116,150,000