SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Common Stock Subject to Possible Redemption Reconciliation

At September 30, 2022 and December 31, 2021, the common stock subject to possible redemption reflected in the condensed balance sheets is reconciled in the following table:

Gross proceeds	$	207,000,000
Less:
Proceeds allocated to Public Rights		(17,595,000)
Common stock issuance costs		(4,552,520)
Plus:
Accretion of carrying value to redemption value		24,217,520
Common stock subject to possible redemption as of December 31, 2021		209,070,000
Plus:
Remeasurement of carrying value to redemption value		704,341
Common stock subject to possible redemption as of September 30, 2022	$	209,774,341

At December 31, 2021, the common stock reflected in the balance sheet are reconciled in the following table:

Gross proceeds	$	207,000,000
Less:
Proceeds allocated to Public Rights	$	(17,595,000)
Common stock issuance costs	$	(4,552,520)
Plus:
Remeasurement of carrying value to redemption value	$	24,217,520
Common stock subject to possible redemption, December 31, 2021	$	209,070,000

Reconciliation of Net income (loss) per share of common stock

The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except per share amounts):

	For the Three		For the Nine
	Months Ended		Months Ended
	September 30, 2022		September 30, 2022
	Common Stock		Common Stock
Basic and diluted net income (loss) per common stock
Numerator:
Net income (loss)	$	326,264	$	(1,470)
Denominator:
Basic and diluted weighted average shares outstanding		26,851,000		26,851,000
Basic and diluted net income (loss) per common stock	$	0.01	$	(0.00)

The following table reflects the calculation of basic and diluted net loss per common share (in dollars, except per share amounts):

	For The Period from
	September 2, 2021
	(Inception) Through
	December 31, 2021
	Common Stock
Basic and diluted net loss per common share
Numerator:
Allocation of net loss as adjusted	$	(235,380)
Denominator:
Basic and diluted weighted average shares outstanding		9,182,858
Basic and diluted net loss per common share	$	(0.03)