Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of company’s assets that are measured at fair value The following tables present information about the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:
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 - Money Market Fund   $ 43,470,366     $
    $
 
Liabilities:                        
Non-redemption agreements derivative liability   $
    $
    $ 1,800,000  
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 - Money Market Fund   $ 309,744,280     $
         —
    $
        —
 
Schedule of non-redemption agreements derivative liability The key inputs into the monte-carlo simulation model for the Non-Redemption Agreements derivative liability were as follows:
Input   June 30,
2023
    Issuance Date
April 28, 2023
 
Market price of Class A common stock   $ 10.41     $ 10.38  
Risk-free rate     5.13 %     4.28 %
Volatility     52.6 %     54.3 %
Term     1.51       1.68  
Probability of successful business combination     20.0 %     20.0 %
Discount for lack of marketability     13.4 %     14.7 %
Threshold   $ 12.00     $ 12.00  
Schedule of table presents the changes in the fair value of the Non-Redemption Agreements The following table presents the changes in the fair value of the Non-Redemption Agreements derivative liability:
Fair value as of December 31, 2022   $
 
Initial measurement     1,770,000  
Change in valuation inputs or other assumptions     30,000  
Fair value as of June 30, 2023   $ 1,800,000