Class A Common Stock Subject to Possible Redemption

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Class A Common Stock Subject to Possible Redemption [Abstract]

Class A Common Stock Subject to Possible Redemption

NOTE 6 — CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

The Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 500,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of September 30, 2023 and December 31, 2022, there were 10,608,178 and 28,750,000, respectively, shares of Class A common stock outstanding, which were all subject to possible redemption and classified outside of permanent equity in the accompanying condensed consolidated balance sheets.

In connection with the stockholders’ vote at the Special Meeting, the stockholders elected to redeem 18,141,822 shares of Class A common stock at a redemption price of approximately $10.37 per share, for an aggregate redemption amount of approximately $188,132,132. After the satisfaction of the Redemption, the balance in the Trust Account as of September 30, 2023 was approximately $113,045,191. Upon completion of the Redemption, 10,608,178 shares of Class A common stock and 7,187,500 shares of Class B common stock remain issued and outstanding.

The Class A common stock subject to possible redemption reflected on the condensed consolidated balance sheets is reconciled on the following table:

Gross proceeds	$	287,500,000
Less:
Proceeds allocated to Public Warrants		(14,662,500	)
Issuance costs allocated to Class A common stock		(19,627,833	)
Plus:
Adjust carrying value to initial redemption value		40,083,762
Class A common stock subject to possible redemption as of December 31, 2022		293,293,429
Less:
Redemption		(188,132,132	)
Plus:
Remeasurement of carrying value to initial redemption value		7,357,845
Class A common stock subject to possible redemption as of September 30, 2023	$	112,519,142

Note 6 — Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 500,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of December 31, 2022 and 2021, there were 28,750,000 shares of Class A common stock outstanding, which were all subject to possible redemption and classified outside of permanent equity in the accompanying balance sheets.

The Class A common stock subject to possible redemption reflected on the balance sheets is reconciled on the following table:

Gross proceeds	$	287,500,000
Less:
Proceeds allocated to Public Warrants		(14,662,500	)
Issuance costs allocated to Class A common stock		(19,627,833	)
Plus:
Adjust carrying value to initial redemption value		37,165,333
Class A common stock subject to possible redemption as of December 31, 2021		290,375,000
Remeasurement of carrying value to redemption value		2,918,429
Class A common stock subject to possible redemption as of December 31, 2022	$	293,293,429