XML 56 R49.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Schedule of company's financial assets and liabilities by level within the fair value hierarchy |
|  | As of June 30, 2022 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Fair value of the other financial instruments |  |  | Fair Value |  |  | Book Value |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 176,316,554 |  |  | $ | 176,316,554 |  |  | $ | 176,316,554 |
Financial investments |  |  | — |  |  |  | 154,464,652 |  |  |  | — |  |  |  | 154,464,652 |  |  |  | — |  |  |  | 154,243,313 |  |  |  | 154,464,652 |
|  |  | — |  |  |  | 154,464,652 |  |  |  | — |  |  |  | 154,464,652 |  |  |  | 176,316,554 |  |  |  | 330,559,867 |  |  |  | 330,781,206 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts payable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (889,594 | ) |  |  | (889,594 | ) |  |  | (889,594 | )
Derivative financial instruments (i) |  |  | — |  |  |  | — |  |  |  | (7,267,500 | ) |  |  | (7,267,500 | ) |  |  | — |  |  |  | (7,267,500 | ) |  |  | (7,267,500 | )
Other Payables |  |  | (164,290 | ) |  |  | — |  |  |  | — |  |  |  | (164,290 | ) |  |  | — |  |  |  | (164,290 | ) |  |  | (164,290 | )
Other Liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,133,122 | ) |  |  | (2,133,122 | ) |  |  | (2,133,122 | )
|  | $ | (164,290 | ) |  | $ | — |  |  | $ | (7,267,500 | ) |  | $ | (7,431,790 | ) |  | $ | (3,022,716 | ) |  | $ | (10,454,506 | ) |  | $ | (10,454,506 | )
(i) | Refers to the Private Placement Warrants.
|  | As of December 31, 2021 |
|  | Level 1 |  |  | Level 2 |  |  | Total |  |  | Fair value of the other financial instruments |  |  | Fair Value |  |  | Book Value |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 14,376,523 |  |  | $ | 14,376,523 |  |  | $ | 14,376,523 |
|  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,376,523 |  |  |  | 14,376,523 |  |  |  | 14,376,523 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts payable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (877,641 | ) |  |  | (877,641 | ) |  |  | (877,641 | )
Derivative financial instruments |  |  | — |  |  |  | (32,226 | ) |  |  | (32,226 | ) |  |  | — |  |  |  | (32,226 | ) |  |  | (32,226 | )
Other Payables |  |  | (183,041 | ) |  |  | — |  |  |  | (183,041 | ) |  |  | — |  |  |  | (183,041 | ) |  |  | (183,041 | )
Other Liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (731,036 | ) |  |  | (731,036 | ) |  |  | (731,036 | )
|  | $ | (183,041 | ) |  | $ | (32,226 | ) |  | $ | (215,267 | ) |  | $ | (1,608,677 | ) |  | $ | (1,823,944 | ) |  | $ | (1,823,944 | )
Summary of key inputs into the modified Black-Scholes model | The key inputs into the modified Black-Scholes model were as follows at June 30, 2022 and December 31, 2021:
Input |  | June 30, 2022 |  |  | December 31, 2021 |
Risk-free interest rate |  |  | 3.01 | % |  |  | 1.29 | %
Expected term (years) |  |  | 5.0 |  |  |  | 5.1 |
Expected volatility |  |  | 25.5 | % |  |  | 15.9 | %
Exercise price |  | $ | 11.50 |  |  | $ | 11.50 |
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Expected stock price at De-SPAC |  | $ | 6.2 |  |  | $ | 8.66 |
Probability-weighted average of additional shares to be issued for the forward contract |  | $ | N/A |  |  | $ | 4,600,000 |
Schedule of change in the fair value of the derivative liabilities | The change in the fair value of the derivative liabilities for the Closing date until June 30, 2022:
|  | Private Placement Warrants |
Balance as of May 9, 2022 |  | $ | 11,400,000 |
Change in fair value |  |  | (4,132,500 | )
Balance as of June 30, 2022 |  | $ | 7,267,500 |

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration