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FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2023
FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured at fair value on a recurring basis

Quoted

Significant

Significant

Prices In

Other

Other

Active

Observable

Unobservable

June 30,

Markets

Inputs

Inputs

    

2023

    

(Level 1)

    

(Level 2)

    

(Level 3)

Assets:

 

  

 

  

 

  

 

  

U.S. Money Market held in Trust Account

 

$

8,097,937

 

$

8,097,937

 

$

 

$

Liabilities:

Derivative Liability – Forward Purchase Agreement

 

$

597,285

 

$

 

$

 

$

597,285

Quoted

Significant

Significant

Prices In

Other

Other

Active

Observable

Unobservable

December 31,

Markets

Inputs

Inputs

    

2022

    

(Level 1)

    

(Level 2)

    

(Level 3)

Assets:

 

  

 

  

 

  

 

  

U.S. Money Market held in Trust Account

 

$

117,191,410

 

$

117,191,410

 

$

 

$

Schedule of key inputs of the models used to value the Company's FPA

    

Initial Measurement Date of

    

Input

January 10, 2023

June 30, 2023

Risk-free interest rate

    

4.63

%  

    

5.42

%  

Remaining life (Yrs.)

 

1.72

 

1.38

 

Expected volatility

 

3.73

%  

 

%  

Redemption Price

$

$

10.55

Stock Price

$

10.48

$

10.41

 

Schedule of changes in the fair value of warrant liabilities

Forward Purchase 

    

Agreement

Fair value as of January 1, 2023

$

Initial measurement on January 10, 2023 – Issuance

 

430,021

Change in Fair Value

 

(43,101)

Fair value as of March 31, 2023

$

386,920

Change in Fair Value

210,365

Fair value as of June 30, 2023

$

597,285