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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.

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- 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

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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.

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