XML 45 R19.htm IDEA: XBRL DOCUMENT v3.24.0.1
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract]  
Shedule of Fair Value of Investments Held in Trust Account
The carrying value, excluding gross unrealized holding (gain) loss, and fair value of held to maturity securities as of December 31, 2022 are as follows:

 
Carrying
Value as of
December 31,
2022
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
as of
December 31,
2022
Cash
$1,034
$
$
$1,034
U.S. Treasury Bills
194,223,748
43,626
194,267,374
 
$194,224,782
$43,626
$
$194,268,408
The estimated fair values of investments held in the Trust Account are determined using available market information.

 
Fair Value
as of
December 31,
2023
Cash
$1,406
U.S. Treasury Bills
10,872,000
 
$10,873,406
Schedule of Basic and Diluted Net Income Per Share The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income per share for each category of common stock:

 
For the Year Ended
December 31, 2023
For the Year Ended
December 31, 2022
 
Common
stock
subject to
possible
redemption
Common
stock
Common
stock
subject to
possible
redemption
Common
stock
Basic and diluted net income per share:
 
 
 
 
Numerator:
 
 
 
 
Allocation of net income
$562,049
$599,861
$5,627,425
$1,540,313
Denominator:
 
 
 
 
Weighted-average shares outstanding
4,866,356
5,193,750
18,975,000
5,193,750
Basic and diluted net income per share
$0.12
$0.12
$0.30
$0.30
Schedule of Consolidated Balance Sheet
As of December 31, 2023 and 2022, the amount of public common stock reflected on the consolidated balance sheets is reconciled in the following table:

Gross proceeds
$189,750,000
Less:
 
Proceeds allocated to Public Warrants
(4,204,248)
Common stock issuance costs
(7,701,178)
Plus:
 
Accretion of redeemable common stock
15,680,910
Contingently redeemable common stock, December 31, 2022
193,525,484
Less:
 
Partial redemption
(186,410,914)
Plus:
 
Accretion of redeemable common stock
2,137,638
Contingently redeemable common stock, December 31, 2023
$9,252,208