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Class A Common Stock Subject to Possible Redemption

6 Months Ended

11 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Class A Common Stock Subject to Possible Redemption

Class A Common Stock Subject to Possible Redemption

Note 6 - Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 280,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of June 30, 2022 and December 31, 2021, there were 15,000,000 shares of Class A common stock outstanding subject to possible redemption and are classified outside of permanent equity in the condensed balance sheets.

The Class A common stock subject to possible redemption reflected on the condensed balance sheets is reconciled in the following table:


Gross proceeds	$	150,000,000
Less:
Amount allocated to Public Warrants		(5,100,000)
Class A common stock issuance costs		(13,306,092)
Plus:
Accretion of carrying value to redemption value		18,406,092
Class A common stock subject to possible redemption	$	150,000,000

Note 6 - Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 280,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of December 31, 2021, there were 15,000,000 shares of Class A common stock outstanding subject to possible redemption and are classified outside of permanent equity in the balance sheet.

The Class A common stock subject to possible redemption reflected on the balance sheet is reconciled in the following table:


Gross proceeds from Initial Public Offering	$	150,000,000
Less:
Fair value of Public Warrants at issuance		(5,100,000)
Offering costs allocated to Class A common stock subject to possible redemption		(13,306,092)
Plus:
Accretion on Class A common stock subject to possible redemption amount		18,406,092
Class A common stock subject to possible redemption	$	150,000,000