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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022 and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:
March 31, 2023
 
Description
  
Quoted Prices

in

Active

Markets

(Level 1)
    
Significant

Other

Observable

Inputs

(Level 2)
    
Significant

Other

Unobservable

Inputs

(Level 3)
 
Assets:
                          
Investments held in Trust Account—U.S. Treasury Securities
   $ 29,211,576      $ —        $ —    
Liabilities:
                          
Derivative liabilities-public warrants
   $ —        $ 151,200      $ —    
Derivative liabilities-private warrants
   $ —        $ 109,640      $ —    
Forward Purchase Agreement liability
   $ —        $ —        $ 125,473
 
 
December 31, 2022
 
Description
  
Quoted Prices

in

Active

Markets

(Level 1)
    
Significant

Other

Observable

Inputs

(Level 2)
    
Significant

Other

Unobservable

Inputs

(Level 3)
 
Assets:
                          
Investments held in Trust Account—U.S. Treasury Securities
   $ 244,314,622      $ —        $ —    
Liabilities:
                          
Derivative liabilities-public warrants
   $ —        $ 49,200      $ —    
Derivative liabilities-private warrants
   $ —        $ 35,690      $ —    
Summary of Disclosure in tabular form of significant unobservable inputs used in the measurement of forward purchase agreement liability
 
Valuation
Date
 
 
Common
Stock
Price
 
 
Probability
of completing
BC
 
 
Maximum
Term
yrs
 
 
Risk Free
Rate
 
 
Implied
Volatility
 
 
3/29/2023
 
 
 
10.35
 
 
 
14.00
 
 
3.74
 
 
 
3.74
 
 
2.90
 
3/31/2023
 
 
 
10.22
 
 
 
14.00
 
 
3.73
 
 
 
3.68
 
 
3.50
Summary of Key Inputs
 
Description
  
Carrying Value at
March 29, 2023
 
  
Change in Fair
value
 
  
Carrying Value at
March 31, 2023
 
Liabilities:
  
  
  
Forward Purchase Agreement
  
$
86,369
 
  
$
39,104
 
  
$
125,473