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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of reconciliation of Class A common stock reflected in the condensed balance sheets


Gross proceeds		$	500,000,000
Less:
Class A common stock issuance costs			(26,652,125)
Plus:
Remeasurement of carrying value to redemption value			31,196,812
Class A common stock subject to possible redemption, December 31, 2022			504,544,687
Plus:
Re-Measurement of carrying value to redemption value			12,225,559
Class A common stock subject to possible redemption, September 30, 2023		$	516,770,246


Gross proceeds		$	500,000,000
Less:
Class A common stock issuance costs			(26,652,125)
Plus:
Re-Measurement of carrying value to redemption value			26,652,125
Class A common stock subject to possible redemption, December 31, 2021		$	500,000,000
Plus:
Re-Measurement of carrying value to redemption value			4,544,687
Class A common stock subject to possible redemption, December 31, 2022		$	504,544,687

Schedule of calculation of basic and diluted net income (loss) per share of common stock

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


		For the Three Months Ended September 30,											For the Nine Months Ended September 30,
		2023						2022					2023						2022
					Not						Not					Not						Not
		Subject			subject to			Subject			subject to		Subject			subject to			Subject			subject to
		to redemption			redemption			to redemption			redemption		to redemption			redemption			to redemption			redemption
Basic and diluted net income per share of common stock
Numerator:
Allocation of net income		$	1,891,104		$	527,618		$	1,152,565		321,565		$	7,264,919		$	2,026,913		$	891,521		$	248,734
Denominator:
Basic and diluted weighted average shares outstanding			50,000,000			13,950,000			50,000,000		13,950,000			50,000,000			13,950,000			50,000,000			13,950,000
Basic and diluted net income per share of common stock		$	0.04		$	0.04		$	0.02		0.02		$	0.15		$	0.15		$	0.02		$	0.02

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


								For the period from
								February 1,
								2021 (Inception)
		Year Ended December 31,						Through December 31,
		2022						2021
		Class A			Class B			Class A			Class B
Basic and diluted net income (loss) per common share
Numerator:
Allocation of net income (loss), as adjusted		$	3,069,406		$	856,364		$	(729,236)		$	(327,470)
Denominator:
Basic and diluted weighted average shares outstanding			50,000,000			13,950,000			28,476,821			12,787,748
Basic and diluted net income (loss) per common share		$	0.06		$	0.06		$	(0.03)		$	(0.03)