Recurring Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Recurring Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

	March 31, 2023
	Level 1		Level 2		Level 3
Assets
Investments held in Trust Account	$	239,572,457	$	-	$	-
Liabilities
Public Warrants	$	575,000	$	-	$	-
Private Warrants	$	-	$	-	$	560,000

	December 31, 2022
	Level 1		Level 2		Level 3
Assets
Investments held in Trust Account	$	237,038,010	$	-	$	-
Liabilities
Public Warrants	$	575,000	$	-	$	-
Private Warrants	$	-	$	-	$	560,000

Key Inputs into Binomial Lattice Model

The key inputs into the binomial lattice model were as follows at March 31, 2023 and December 31, 2022:

Input	March 31, 2023			December 31, 2022
Risk-free interest rate		3.55	%		3.95	%
Expected term to initial Business Combination (years)		0.59			0.25
Expected volatility		de minimis			de minimis
Common stock price	$	10.40		$	10.18
Dividend yield		0.0	%		0.0	%

Changes in Fair Value of Warrants

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s warrants classified as Level 3 for the period ended March 31, 2023 and December 31, 2022:

Fair Value at December 31, 2022 – private warrants	$	560,000
Change in fair value		-
Fair Value at March 31, 2023 – private warrants	$	560,000