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INITIAL PUBLIC OFFERING
9 Months Ended
Dec. 31, 2021
Initial Public Offering  
INITIAL PUBLIC OFFERING

NOTE 3. INITIAL PUBLIC OFFERING

 

On January 3, 2022, the Company consummated its Initial Public Offering of 11,500,000 Units (including the issuance of 1,500,000 Units as a result of the underwriter’s full exercise of its over-allotment option), at $10.00 per Unit, generating gross proceeds of $115,000,000.

 

Each Unit consists of one share of Class A common stock and one redeemable warrant (“Public Warrant”). Each Public Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (see Note 6).

 

As of January 3, 2022, the Company incurred offering costs of approximately $6,755,007, of which $4,025,000 was for deferred underwriting commissions.