Recurring Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Derivative Instrument Detail [Abstract]

Note

— Recurring Fair Value Measurements

As of June 30, 2023 and December 31, 2022, investments held in the Trust Account are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets.

The Company’s Public Warrants are traded on the Nasdaq. As such, the Public Warrant valuation is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. The fair value of the Public Warrant liabilities is classified within Level 1 of the fair value hierarchy.

At June 30, 2023 and December 31, 2022, the Company considers the Private Warrants to be economically equivalent to the Public Warrants. As such, the valuation of the Public Warrants was used to value the Private Warrants. The fair value of the Private Warrant liabilities is classified within Level 2 of the fair value hierarchy.

The following tables presents fair value information as of June 30, 2023 and December 31, 2022 of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


June 30, 2023	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities held in Trust Account	$	31,631,853	$	—	$	—	$	31,631,853
Liabilities:
Public Warrants		1,015,680		—		—		1,015,680
Private Warrants		—		1,033,344		—		1,033,344

Total liabilities	$	966,000	$	982,800	$	—	$	1,948,800


December 31, 2022	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities held in Trust Account	$	285,506,568	$	—	$	—	$	285,506,568
Liabilities:
Public Warrants		394,680		—		—		394,680
Private Warrants		—		401,544		—		401,544

Total liabilities	$	394,680	$	401,544	$	—	$	796,224

There were no transfers to or from Levels 1, 2 or 3.