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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Measurements [Abstract]  
Schedule of Fair Value Hierarchy of the Valuation Inputs the Company Utilized to Determine such Fair Value The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of September 30, 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:
Description  Amount at
Fair Value
   Level 1   Level 2   Level 3 
September 30, 2023                
Assets                
Marketable Securities held in Trust Account:                
U.S. Treasury Securities  $121,479,815   $121,479,815   $
   $
 
Liabilities                    
Derivative liabilities – Forward Purchase Agreement  $8,890,000   $
   $
   $8,890,000 

 

Schedule of Level 3 Fair Value Measurements Inputs The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:
   As of
September 30,
2023
   As of
August 15,
2023
 
Redemption Price  $10.55   $10.43 
Stock price  $10.55   $10.49 
Volatility   57.0%   56.0%
Term (years)   2.87    3.00 
Risk-free rate   4.83%   4.64%
(1)Reflected in Change in fair value of Forward Purchase Agreement on the condensed consolidated statements of operations.
Schedule of Fair Value of the Assets and Liabilities The change in the fair value of the assets and liabilities, measured with Level 3 inputs, for the nine months ended September 30, 2023 is summarized as follows:
Fair value as of (inception) August 15, 2023  $8,810,000 
Change in fair value of derivative liabilities(1)   80,000 
Fair value as of September 30, 2023  $8,890,000 

 

(1)Reflected in Change in fair value of Forward Purchase Agreement on the condensed consolidated statements of operations.