Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Measurements [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 September 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   $ 43,996,416     $
     —
    $
 
Liabilities:                        
Non-redemption agreements derivative liability   $
    $
    $ 1,890,000  
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   September 30,
2023
    Issuance Date
April 28,
2023
 
Market price of Class A common stock   $ 10.54     $ 10.38  
Risk-free rate     5.26 %     4.28 %
Volatility     44.1 %     54.3 %
Term     1.25       1.68  
Probability of successful business combination     20.0 %     20.0 %
Discount for lack of marketability     10.3 %     14.7 %
Threshold price   $ 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     120,000  
Fair value as of September 30, 2023   $ 1,890,000