XML 102 R21.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Restatement of Previously Issued Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2023
Restatement of Previously Issued Financial Statements (Tables) [Line Items]  
Schedule of Unaudited Condensed Consolidated Statement of Operations
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Operations for the three months ended September 30, 2023

            

Interest expense – debt discount

  

$

(2,467,496

)

  

$

2,188,483

  

$

(279,013

)

Change in fair value of subscription liability

  

$

(2,079,310

)

  

$

2,079,310

  

$

—

 

Total other (expense) income, net

  

$

(4,252,471

)

  

$

4,267,793

  

$

15,322

 

Net income (loss)

  

$

(4,605,843

)

  

$

4,267,793

  

$

(338,050

)

Basic and diluted net (loss) income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.36

)

  

$

0.33

  

$

(0.03

)

Basic and diluted net (loss) income per ordinary share, Class A ordinary shares

  

$

(0.36

)

  

$

0.33

  

$

(0.03

)

Basic and diluted net (loss) income per ordinary share, Class B ordinary shares

  

$

(0.36

)

  

$

0.33

  

$

(0.03

)
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Operations for the nine months ended September 30, 2023

            

Interest expense – debt discount

  

$

(3,815,529

)

  

$

3,401,585

 

  

$

(413,944

)

Change in fair value of subscription liability

  

$

557,645

 

  

$

(557,645

)

  

$

—

 

Total other (expense) income, net

  

$

1,035,971

 

  

$

2,843,940

 

  

$

3,879,911

 

Net income (loss)

  

$

(1,049,638

)

  

$

2,843,940

 

  

$

1,794,302

 

Basic and diluted net (loss) income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.05

)

  

$

0.14

 

  

$

0.09

 

Basic and diluted net (loss) income per ordinary share, Class A ordinary shares

  

$

(0.05

)

  

$

0.14

 

  

$

0.09

 

Basic and diluted net (loss) income per ordinary share, Class B ordinary shares

  

$

(0.05

)

  

$

0.14

 

  

$

0.09

 
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Operations for the three months ended June 30, 2023

            

Interest expense – debt discount

  

$

(1,045,564

)

  

$

939,148

 

  

$

(106,416

)

Change in fair value of subscription liability

  

$

2,655,232

 

  

$

(2,655,232

)

  

$

—

 

Total other (expense) income, net

  

$

4,847,438

 

  

$

(1,716,084

)

  

$

3,131,354

 

Net income (loss)

  

$

4,268,484

 

  

$

(1,716,084

)

  

$

2,552,400

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

0.20

 

  

$

(0.08

)

  

$

0.12

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

0.20

 

  

$

(0.08

)

  

$

0.12

 
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Operations for the six months ended June 30, 2023

            

Interest expense – debt discount

  

$

(1,348,033

)

  

$

1,213,102

 

  

$

(134,931

)

Change in fair value of subscription liability

  

$

2,636,955

 

  

$

(2,636,955

)

  

$

—

 

Total other (expense) income, net

  

$

5,288,442

 

  

$

(1,423,853

)

  

$

3,864,589

 

Net income (loss)

  

$

3,556,206

 

  

$

(1,423,853

)

  

$

2,132,353

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

0.15

 

  

$

(0.06

)

  

$

0.09

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

0.15

 

  

$

(0.06

)

  

$

0.09

 
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Operations for the three months ended March 31, 2023

            

Interest expense – debt discount

  

$

(302,469

)

  

$

273,954

  

$

(28,515

)

Change in fair value of subscription liability

  

$

(18,277

)

  

$

18,277

  

$

—

 

Total other (expense) income, net

  

$

441,004

 

  

$

292,231

  

$

733,235

 

Net income (loss)

  

$

(712,278

)

  

$

292,231

  

$

(420,047

)

Basic and diluted net (loss) income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.02

)

  

$

0.01

  

$

(0.01

)

Basic and diluted net (loss) income per ordinary share, Class B ordinary shares

  

$

(0.02

)

  

$

0.01

  

$

(0.01

)
 

For the three months ended September 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Formation and operating costs

  

$

353,372

 

  

 

        

$

353,372

 

Loss from operations

  

 

(353,372

)

  

 

        

 

(353,372

)
   

 

  

 

  

 

        

 

  

 

Other (expense) income:

  

 

  

 

  

 

        

 

  

 

Change in fair value of warrant liabilities

  

 

(334,975

)

  

 

        

 

(334,975

)

Change in fair value of subscription liability

  

 

(2,079,310

)

  

 

2,079,310

  

a

  

 

—

 

Change in fair value of Forward Purchase Agreement

  

 

—

 

  

 

        

 

—

 

Issuance of Forward Purchase Agreement

  

 

—

 

  

 

        

 

—

 

Reduction of deferred underwriter fee payable

  

 

—

 

  

 

        

 

—

 

Interest Expense – Debt Discount

  

 

(2,467,496

)

  

 

2,188,483

  

b

  

 

(279,013

)

Interest income – trust account

  

 

629,310

 

  

 

 

      

 

629,310

 

Total other (expense) income, net

  

 

(4,252,471

)

  

 

4,267,793

      

 

15,322

 
   

 

  

 

  

 

        

 

  

 

Net (loss) income

  

$

(4,605,843

)

  

$

4,267,793

  

d

  

$

(338,050

)
   

 

  

 

  

 

        

 

  

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

4,970,919

 

  

 

        

 

4,970,919

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.36

)

  

$

0.33

      

$

(0.03

)

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

1,474,641

 

  

 

        

 

1,474,641

 

Basic and diluted net income per ordinary share, Class A ordinary shares

  

$

(0.36

)

  

$

0.33

      

$

(0.03

)

Weighted average shares outstanding, Class B ordinary shares

  

 

6,505,768

 

  

 

        

 

6,505,768

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

(0.36

)

  

$

0.33

      

$

(0.03

)
 

For the nine months ended September 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Formation and operating costs

  

$

2,085,609

 

  

 

  

 

      

$

2,085,609

 

Loss from operations

  

 

(2,085,609

)

  

 

  

 

      

 

(2,085,609

)
   

 

  

 

  

 

  

 

      

 

  

 

Other (expense) income:

  

 

  

 

  

 

  

 

      

 

  

 

Change in fair value of warrant liabilities

  

 

(379,216

)

  

 

  

 

      

 

(379,216

)

Change in fair value of subscription liability

  

 

557,645

 

  

 

(557,645

)

  

a

  

 

—

 

Change in fair value of Forward Purchase Agreement

  

 

308,114

 

  

 

  

 

      

 

308,114

 

Issuance of Forward Purchase Agreement

  

 

(308,114

)

  

 

  

 

      

 

(308,114

)

Reduction of deferred underwriter fee payable

  

 

328,474

 

  

 

  

 

      

 

328,474

 

Interest Expense – Debt Discount

  

 

(3,815,529

)

  

 

3,401,585

 

  

b

  

 

(413,944

)

Interest income – trust account

  

 

4,344,597

 

  

 

 

 

      

 

4,344,597

 

Total other (expense) income, net

  

 

1,035,971

 

  

 

2,843,940

 

      

 

3,879,911

 
   

 

  

 

  

 

  

 

      

 

  

 

Net (loss) income

  

$

(1,049,638

)

  

 

2,843,940

 

  

d

  

$

1,794,302

 
   

 

  

 

  

 

  

 

      

 

  

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

12,083,753

 

  

 

  

 

      

 

12,083,753

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.05

)

  

$

0.14

 

      

$

0.09

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

526,181

 

  

 

  

 

      

 

526,181

 

Basic and diluted net income per ordinary share, Class A ordinary shares

  

$

(0.05

)

  

$

0.14

 

      

$

0.09

 

Weighted average shares outstanding, Class B ordinary shares

  

 

7,454,228

 

  

 

  

 

      

 

7,454,228

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

(0.05

)

  

$

0.14

 

      

$

0.09

 
 

For the three months ended June 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Formation and operating costs

  

$

578,954

 

  

 

  

 

      

$

578,954

 

Loss from operations

  

 

(578,954

)

  

 

  

 

      

 

(578,954

)
   

 

  

 

  

 

  

 

      

 

  

 

Other (expense) income:

  

 

  

 

  

 

  

 

      

 

  

 

Change in fair value of warrant liabilities

  

 

1,978,245

 

  

 

  

 

      

 

1,978,245

 

Change in fair value of subscription liability

  

 

2,655,232

 

  

 

(2,655,232

)

  

a

  

 

—

 

Change in fair value of Forward Purchase Agreement

  

 

633,205

 

  

 

  

 

      

 

633,205

 

Issuance of Forward Purchase Agreement

  

 

—

 

  

 

  

 

      

 

—

 

Reduction of deferred underwriter fee payable

  

 

—

 

  

 

  

 

      

 

—

 

Interest Expense – Debt Discount

  

 

(1,045,564

)

  

 

939,148

 

  

b

  

 

(106,416

)

Interest income – trust account

  

 

626,320

 

  

 

 

 

      

 

626,320

 

Total other (expense) income, net

  

 

4,847,438

 

  

 

(1,716,084

)

      

 

3,131,354

 
   

 

  

 

  

 

  

 

      

 

  

 

Net (loss) income

  

$

4,268,484

 

  

$

(1,716,084

)

  

d

  

$

2,552,400

 
   

 

  

 

  

 

  

 

      

 

  

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

13,208,627

 

  

 

  

 

      

 

13,208,627

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

0.20

 

  

$

(0.08

)

      

$

0.12

 

Weighted average shares outstanding, Class B ordinary

  

 

7,980,409

 

  

 

  

 

      

 

7,980,409

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

0.20

 

  

$

(0.08

)

      

$

0.12

 
 

For the six months ended June 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Formation and operating costs

  

$

1,732,236

 

  

 

  

 

      

$

1,732,236

 

Loss from operations

  

 

(1,732,236

)

  

 

  

 

      

 

(1,732,236

)
   

 

  

 

  

 

  

 

      

 

  

 

Other (expense) income:

  

 

  

 

  

 

  

 

      

 

  

 

Change in fair value of warrant liabilities

  

 

(44,241

)

  

 

  

 

      

 

(44,241

)

Change in fair value of subscription liability

  

 

2,636,955

 

  

 

(2,636,955

)

  

a

  

 

—

 

Change in fair value of Forward Purchase Agreement

  

 

308,114

 

  

 

  

 

      

 

308,114

 

Issuance of Forward Purchase Agreement

  

 

(308,114

)

  

 

  

 

      

 

(308,114

)

Reduction of deferred underwriter fee payable

  

 

328,474

 

  

 

  

 

      

 

328,474

 

Interest Expense – Debt Discount

  

 

(1,348,033

)

  

 

1,213,102

 

  

b

  

 

(134,931

)

Interest income – trust account

  

 

3,715,287

 

  

 

 

 

      

 

3,715,287

 

Total other (expense) income, net

  

 

5,288,442

 

  

 

(1,423,853

)

      

 

3,864,589

 
   

 

  

 

  

 

  

 

      

 

  

 

Net (loss) income

  

$

3,556,206

 

  

$

(1,423,853

)

  

d

  

$

2,132,353

 
   

 

  

 

  

 

  

 

      

 

  

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

15,699,166

 

  

 

  

 

      

 

15,699,166

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

0.15

 

  

$

(0.06

)

      

$

0.09

 

Weighted average shares outstanding, Class B ordinary

  

 

7,980,409

 

  

 

  

 

      

 

7,980,409

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

0.15

 

  

$

(0.06

)

      

$

0.09

 
 

For the three months ended March 31, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Formation and operating costs

  

$

1,153,282

 

  

 

        

$

1,153,282

 

Loss from operations

  

 

(1,153,282

)

  

 

        

 

(1,153,282

)
   

 

  

 

  

 

        

 

  

 

Other (expense) income:

  

 

  

 

  

 

        

 

  

 

Change in fair value of warrant liabilities

  

 

(2,022,486

)

  

 

        

 

(2,022,486

)

Change in fair value of subscription liability

  

 

(18,277

)

  

 

18,277

  

a

  

 

—

 

Change in fair value of Forward Purchase Agreement

  

 

(325,091

)

  

 

        

 

(325,091

)

Issuance of Forward Purchase Agreement

  

 

(308,114

)

  

 

        

 

(308,114

)

Reduction of deferred underwriter fee payable

  

 

328,474

 

  

 

        

 

328,474

 

Interest Expense – Debt Discount

  

 

(302,469

)

  

 

273,954

  

b

  

 

(28,515

)

Interest income – trust account

  

 

3,088,967

 

  

 

 

      

 

3,088,967

 

Total other (expense) income, net

  

 

441,004

 

  

 

292,231

      

 

733,235

 
   

 

  

 

  

 

        

 

  

 

Net (loss) income

  

$

(712,278

)

  

$

292,231

  

d

  

$

(420,047

)
   

 

  

 

  

 

        

 

  

 

Weighted average shares outstanding, Class A ordinary shares subject to possible redemption

  

 

26,286,357

 

  

 

        

 

26,286,357

 

Basic and diluted net income per ordinary share, Class A ordinary shares subject to possible redemption

  

$

(0.02

)

  

$

0.01

      

$

(0.01

)

Weighted average shares outstanding, Class B ordinary

  

 

7,980,409

 

  

 

        

 

7,980,409

 

Basic and diluted net income per ordinary share, Class B ordinary shares

  

$

(0.02

)

  

$

0.01

      

$

(0.01

)
Schedule of Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit for the three months ended September 30, 2023

            

Additional paid-in capital

  

$

5,404,501

 

  

$

914,776

  

$

6,319,277

 

Accumulated deficit

  

$

(16,347,949

)

  

$

2,843,940

  

$

(13,504,009

)

Issuance of subscription shares

  

$

—

 

  

$

491,176

  

$

491,176

 

Net income (loss)

  

$

(4,605,843

)

  

$

4,267,793

  

$

(338,050

)

Total stockholders’ deficit

  

$

(10,942,649

)

  

$

3,758,716

  

$

(7,183,933

)
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit for the three months ended June 30, 2023

            

Additional paid-in capital

  

$

6,488,812

 

  

$

423,601

 

  

$

6,912,413

 

Accumulated deficit

  

$

(11,742,106

)

  

$

(1,423,853

)

  

$

(13,165,959

)

Issuance of subscription shares

  

$

—

 

  

$

166,965

 

  

$

166,965

 

Net income (loss)

  

$

4,268,484

 

  

$

(1,716,084

)

  

$

2,552,400

 

Total stockholders’ deficit

  

$

(5,252,495

)

  

$

(1,000,252

)

  

$

(6,252,747

)
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit for the three months ended March 31, 2023

            

Additional paid-in capital

  

$

7,275,132

 

  

$

256,635

  

$

7,531,767

 

Accumulated deficit

  

$

(16,010,590

)

  

$

292,231

  

$

(15,718,360

)

Issuance of subscription shares

  

$

—

 

  

$

256,635

  

$

256,635

 

Net income (loss)

  

$

(712,278

)

  

$

292,231

  

$

(420,047

)

Total stockholders’ deficit

  

$

(8,734,659

)

  

$

548,866

  

$

(8,185,793

)
Schedule of Unaudited Condensed Consolidated Statement of Cash Flows
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2023

            

Interest expense – debt discount

  

$

3,815,529

 

  

$

(3,401,585

)

  

$

413,944

Change in fair value of subscription liability

  

$

(557,645

)

  

$

557,645

 

  

$

—

Net income (loss)

  

$

(1,049,638

)

  

$

2,843,940

 

  

$

1,794,302

Issuance of subscription shares

  

$

—

 

  

$

914,776

 

  

$

914,776
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2023

            

Interest expense – debt discount

  

$

1,348,033

 

  

$

(1,213,102

)

  

$

134,931

Change in fair value of subscription liability

  

$

(2,636,955

)

  

$

2,636,955

 

  

$

—

Net income (loss)

  

$

3,556,206

 

  

$

(1,423,853

)

  

$

2,132,353

Issuance of subscription shares

  

$

—

 

  

$

423,600

 

  

$

423,600
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2023

            

Interest expense – debt discount

  

$

302,469

 

  

$

(273,954

)

  

$

28,515

 

Change in fair value of subscription liability

  

$

18,277

 

  

$

(18,277

)

  

$

—

 

Net income (loss)

  

$

(712,278

)

  

$

292,231

 

  

$

(420,047

)

Issuance of subscription shares

  

$

—

 

  

$

256,635

 

  

$

256,635

 
 

For the nine months ended September 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Cash Flows from Operating Activities:

  

 

  

 

    

 

      

 

  

 

Net (loss) income

  

$

(1,049,638

)

  

2,843,940

 

  

d

  

$

1,794,302

 

Adjustments to reconcile net loss to net cash used in operating activities:

  

 

  

 

    

 

      

 

  

 

Interest earned on investments held in Trust Account

  

 

(4,344,597

)

    

 

      

 

(4,344,597

)

Changes in fair value of warrant liabilities

  

 

379,216

 

    

 

      

 

379,216

 

Reduction of deferred underwriter fees

  

 

(328,474

)

    

 

      

 

(328,474

)

Issuance of Forward Purchase Agreement

  

 

308,114

 

    

 

      

 

308,114

 

Change in fair value of Forward Purchase Agreement

  

 

(308,114

)

    

 

      

 

(308,114

)

Change in fair value of subscription liability

  

 

(557,645

)

  

557,645

 

  

a

  

 

—

 

Interest expense – debt discount

  

 

3,815,529

 

  

(3,401,585

)

  

b

  

 

413,944

 

Changes in operating assets and liabilities:

  

 

  

 

    

 

      

 

  

 

Prepaid assets

  

 

16,081

 

    

 

      

 

16,081

 

Due to related party

  

 

23,966

 

    

 

      

 

23,966

 

Accounts payable and accrued expenses

  

 

1,335,939

 

    

 

      

 

1,335,939

 

Net cash used in operating activities

  

 

(709,623

)

    

 

      

 

(709,623

)
   

 

  

 

    

 

      

 

  

 

Cash flows from Investing Activities:

  

 

  

 

    

 

      

 

  

 

Extension payment deposit in Trust

  

 

(1,095,000

)

    

 

      

 

(1,095,000

)

Cash withdrawn for redemptions

  

 

294,254,572

 

    

 

      

 

294,254,572

 

Net cash provided by investing activities

  

 

293,159,572

 

    

 

      

 

293,159,572

 
   

 

  

 

    

 

      

 

  

 

Cash flows from Financing Activities:

  

 

  

 

    

 

      

 

  

 

Proceeds from the subscription liability

  

 

1,560,944

 

    

 

      

 

1,560,944

 

Redemption from Trust Account for ordinary shares

  

 

(294,254,572

)

    

 

      

 

(294,254,572

)

Proceeds from note payable-related party

  

 

250,000

 

    

 

      

 

250,000

 

Net cash (used in) provided by financing activities

  

 

(292,443,628

)

    

 

      

 

(292,443,628

)
   

 

  

 

    

 

      

 

  

 

Net Change in Cash

  

 

6,321

 

    

 

      

 

6,321

 

Cash, Beginning of period

  

 

86,401

 

    

 

      

 

86,401

 

Cash, End of period

  

$

92,722

 

    

 

      

$

92,722

 
   

 

  

 

    

 

      

 

  

 

Non-Cash investing and financing activities:

  

 

  

 

    

 

      

 

  

 

Accretion of Class A ordinary shares subject to possible redemption

  

$

5,439,596

 

    

 

      

$

5,439,596

 

Issuance of subscription shares

  

$

—

 

    

 

      

$

914,776

 
 

For the six months ended June 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Cash Flows from Operating Activities:

  

 

  

 

    

 

      

 

  

 

Net (loss) income

  

$

3,556,206

 

  

(1,423,853

)

  

d

  

$

2,132,353

 

Adjustments to reconcile net loss to net cash used in operating activities:

  

 

  

 

    

 

      

 

  

 

Interest earned on investments held in Trust Account

  

 

(3,715,287

)

    

 

      

 

(3,715,287

)

Changes in fair value of warrant liabilities

  

 

44,241

 

    

 

      

 

44,241

 

Reduction of deferred underwriter fees

  

 

(328,474

)

    

 

      

 

(328,474

)

Issuance of Forward Purchase Agreement

  

 

308,114

 

    

 

      

 

308,114

 

Change in fair value of Forward Purchase Agreement

  

 

(308,114

)

    

 

      

 

(308,114

)

Change in fair value of subscription liability

  

 

(2,636,955

)

  

2,636,955

 

  

a

  

 

—

 

Interest expense – debt discount

  

 

1,348,033

 

  

(1,213,102

)

  

b

  

 

134,931

 

Changes in operating assets and liabilities:

  

 

  

 

    

 

      

 

  

 

Prepaid assets

  

 

(9,254

)

    

 

      

 

(9,254

)

Due to related party

  

 

96,826

 

    

 

      

 

96,826

 

Accounts payable and accrued expenses

  

 

1,213,199

 

    

 

      

 

1,213,199

 

Net cash used in operating activities

  

 

(431,465

)

    

 

      

 

(431,465

)
   

 

  

 

    

 

      

 

  

 

Cash flows from Investing Activities:

  

 

  

 

    

 

      

 

  

 

Extension payment deposit in Trust

  

 

(640,000

)

    

 

      

 

(640,000

)

Cash withdrawn for redemptions

  

 

273,112,312

 

    

 

      

 

273,112,312

 

Net cash provided by investing activities

  

 

272,472,312

 

    

 

      

 

272,472,312

 
   

 

  

 

    

 

      

 

  

 

Cash flows from Financing Activities:

  

 

  

 

    

 

      

 

  

 

Proceeds from the subscription liability

  

 

755,944

 

    

 

      

 

755,944

 

Redemption from Trust Account for ordinary shares

  

 

(273,112,312

)

    

 

      

 

(273,112,312

)

Proceeds from note payable-related party

  

 

250,000

 

    

 

      

 

250,000

 

Net cash (used in) provided by financing activities

  

 

(272,106,368

)

    

 

      

 

(272,106,368

)
   

 

  

 

    

 

      

 

  

 

Net Change in Cash

  

 

(65,521

)

    

 

      

 

(65,521

)

Cash, Beginning of period

  

 

86,401

 

    

 

      

 

86,401

 

Cash, End of period

  

$

20,880

 

    

 

      

$

20,880

 
   

 

  

 

    

 

      

 

  

 

Non-Cash investing and financing activities:

  

 

  

 

    

 

      

 

  

 

Accretion of Class A ordinary shares subject to possible redemption

  

$

4,355,287

 

    

 

      

$

4,355,287

 

Issuance of subscription shares

  

$

—

 

    

 

      

$

423,601

 
 

For the three months ended March 31, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

Cash Flows from Operating Activities:

  

 

  

 

    

 

      

 

  

 

Net (loss) income

  

$

(712,278

)

  

292,231

 

  

d

  

$

(420,047

)

Adjustments to reconcile net loss to net cash used in operating activities:

  

 

  

 

    

 

      

 

  

 

Interest earned on investments held in Trust Account

  

 

(3,088,967

)

    

 

      

 

(3,088,967

)

Changes in fair value of warrant liabilities

  

 

2,022,486

 

    

 

      

 

2,022,486

 

Reduction of deferred underwriter fees

  

 

(328,474

)

    

 

      

 

(328,474

)

Issuance of Forward Purchase Agreement

  

 

308,114

 

    

 

      

 

308,114

 

Change in fair value of Forward Purchase Agreement

  

 

325,091

 

    

 

      

 

325,091

 

Change in fair value of subscription liability

  

 

18,277

 

  

(18,277

)

  

a

  

 

—

 

Interest expense – debt discount

  

 

302,469

 

  

(273,954

)

  

b

  

 

28,515

 

Changes in operating assets and liabilities:

  

 

  

 

    

 

      

 

  

 

Prepaid assets

  

 

(59,349

)

    

 

      

 

(59,349

)

Due to related party

  

 

30,000

 

    

 

      

 

30,000

 

Accounts payable and accrued expenses

  

 

944,041

 

    

 

      

 

944,041

 

Net cash used in operating activities

  

 

(238,590

)

    

 

      

 

(238,590

)
   

 

  

 

    

 

      

 

  

 

Cash flows from Investing Activities:

  

 

  

 

    

 

      

 

  

 

Extension payment deposit in Trust

  

 

(480,000

)

    

 

      

 

(480,000

)

Cash withdrawn for redemptions

  

 

273,112,312

 

    

 

      

 

273,112,312

 

Net cash provided by investing activities

  

 

272,632,312

 

    

 

      

 

272,632,312

 
   

 

  

 

    

 

      

 

  

 

Cash flows from Financing Activities:

  

 

  

 

    

 

      

 

  

 

Proceeds from the subscription liability

  

 

480,000

 

    

 

      

 

480,000

 

Redemption from Trust Account for ordinary shares

  

 

(273,112,312

)

    

 

      

 

(273,112,312

)

Proceeds from note payable-related party

  

 

250,000

 

    

 

      

 

250,000

 

Net cash (used in) provided by financing activities

  

 

(272,382,312

)

    

 

      

 

(272,382,312

)
   

 

  

 

    

 

      

 

  

 

Net Change in Cash

  

 

11,410

 

    

 

      

 

11,410

 

Cash, Beginning of period

  

 

86,401

 

    

 

      

 

86,401

 

Cash, End of period

  

$

97,811

 

    

 

      

$

97,811

 
   

 

  

 

    

 

      

 

  

 

Non-Cash investing and financing activities:

  

 

  

 

    

 

      

 

  

 

Accretion of Class A ordinary shares subject to possible redemption

  

$

3,568,966

 

    

 

      

$

3,568,966

 

Issuance of subscription shares

  

$

—

 

    

 

      

$

256,635

 
Parent Company [Member]  
Restatement of Previously Issued Financial Statements (Tables) [Line Items]  
Schedule of Unaudited Condensed Consolidated Statement of Changes in Shareholders’ Deficit
 

Class A
ordinary shares

  

Class B
ordinary shares

  

Additional
Paid-in
Capital

  

Accumulated
Deficit

  

Shareholders’
Deficit

As Previously Reported

  

Shares

  

Amount

  

Shares

  

Amount

  

Balance as of December 31, 2022

  

—

  

$

—

  

7,980,409

 

  

$

799

 

  

$

—

 

  

$

(15,298,312

)

  

$

(15,297,513

)

Reduction of deferred underwriter fees

      

 

      

 

  

 

  

 

  

 

10,844,098

 

  

 

  

 

  

 

10,844,098

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(3,568,966

)

  

 

—

 

  

 

(3,568,966

)

Net Income

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

(712,278

)

  

 

(712,278

)

Balance as of March 31, 2023

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

7,275,132

 

  

 

(16,010,590

)

  

 

(8,734,659

)

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(786,320

)

  

 

—

 

  

 

(786,320

)

Net Income

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

4,268,484

 

  

 

4,268,484

 

Balance as of June 30, 2023

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

6,488,812

 

  

 

(11,742,106

)

  

 

(5,252,495

)

Conversion of class B shares to Class A shares

  

7,980,409

  

 

799

  

(7,980,409

)

  

 

(799

)

  

 

  

 

  

 

  

 

  

 

—

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(1,084,311

)

  

 

—

 

  

 

(1,084,311

)

Net Income

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

(4,605,843

)

  

 

(4,605,843

)

Balance as of September 30, 2023

  

7,980,409

  

$

799

  

—

 

  

$

—

 

  

$

5,404,501

 

  

$

(16,347,949

)

  

$

(10,942,649

)

Restatement Impacts

      

 

      

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Balance as of December 31, 2022

  

—

  

$

—

  

7,980,409

 

  

$

799

 

  

$

—

 

  

$

(15,298,312

)

  

$

(15,297,513

)

Reduction of deferred underwriter fees

      

 

      

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

  

 

  

 

—

 

  

 

  

 

Issuance of subscription shares (adjustment)

      

 

      

 

  

 

  

 

  

 

256,635

 

  

 

  

 

  

 

256,635

 

Net Income (adjustment)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

292,231

 

  

 

292,231

 

Balance as of March 31, 2023

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

256,635

 

  

 

(15,006,081

)

  

 

(14,748,647

)

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

  

 

  

 

—

 

  

 

  

 

Issuance of subscription shares (adjustment)

      

 

      

 

  

 

  

 

  

 

166,966

 

  

 

  

 

  

 

166,966

 

Net Income (adjustment)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

(1,716,084

)

  

 

(1,716,084

)

Balance as of June 30, 2023

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

423,601

 

  

 

(16,722,165

)

  

 

(16,297,765

)
 

Class A
ordinary shares

  

Class B
ordinary shares

  

Additional
Paid-in
Capital

  

Accumulated
Deficit

  

Shareholders’
Deficit

As Previously Reported

  

Shares

  

Amount

  

Shares

  

Amount

  

Conversion of class B shares to Class A
shares

      

 

      

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

—

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

  

 

  

 

—

 

  

 

  

 

Issuance of subscription shares (adjustment)

      

 

      

 

  

 

  

 

  

 

491,175

 

  

 

  

 

  

 

491,175

 

Net Income (adjustment)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

4,267,793

 

  

 

4,267,793

 

Balance as of September 30, 2023

  

—

  

$

—

  

7,980,409

 

  

$

799

 

  

$

914,776

 

  

$

(12,454,372

)

  

$

(11,538,797

)
       

 

      

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

As Restated

      

 

      

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Balance as of December 31, 2022

  

—

  

$

—

  

7,980,409

 

  

$

799

 

  

$

—

 

  

$

(15,298,312

)

  

$

(15,297,513

)

Reduction of deferred underwriter fees

      

 

      

 

  

 

  

 

  

 

10,844,098

 

  

 

  

 

  

 

10,844,098

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(3,568,966

)

  

 

—

 

  

 

(3,568,966

)

Issuance of subscription shares (as restated)

      

 

      

 

  

 

  

 

  

 

256,635

 

  

 

  

 

  

 

256,635

 

Net loss (as restated)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

(420,047

)

  

 

(420,047

)

Balance as of March 31, 2023 (as restated)

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

7,531,767

 

  

 

(15,718,359

)

  

 

(8,185,793

)

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(786,320

)

  

 

—

 

  

 

(786,320

)

Issuance of subscription shares (as restated)

      

 

      

 

  

 

  

 

  

 

166,966

 

  

 

  

 

  

 

166,966

 

Net income (as restated)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

2,552,400

 

  

 

2,552,400

 

Balance as of June 30, 2023 (as restated)

  

—

  

 

—

  

7,980,409

 

  

 

799

 

  

 

6,912,413

 

  

 

(13,165,959

)

  

 

(6,252,747

)

Conversion of class B shares to Class A shares

  

7,980,409

  

 

799

  

(7,980,409

)

  

 

(799

)

  

 

  

 

  

 

  

 

  

 

—

 

Accretion of Class A ordinary shares to redemption value

      

 

      

 

  

 

  

 

  

 

(1,084,311

)

  

 

—

 

  

 

(1,084,311

)

Issuance of subscription shares (as restated)

      

 

      

 

  

 

  

 

  

 

491,175

 

  

 

  

 

  

 

491,175

 

Net loss (as restated)

  

 

  

 

 

  

 

 

  

 

 

 

  

 

 

 

  

 

(338,050

)

  

 

(338,050

)

Balance as of September 30, 2023 (as restated)

  

7,980,409

  

$

799

  

—

 

  

$

—

 

  

$

6,319,277

 

  

$

(13,504,009

)

  

$

(7,183,933

)
Parent Company [Member]  
Restatement of Previously Issued Financial Statements (Tables) [Line Items]  
Schedule of Unaudited Condensed Consolidated Balance Sheet The impact of the revision on the Company’s financial statements is reflected in the following table:
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Balance Sheet as of September 30, 2023

            

Debt discount

  

$

4,372,334

 

  

$

(4,372,334

)

  

$

—

 

Total assets

  

$

39,589,273

 

  

$

(4,372,334

)

  

$

35,216,939

 

Subscription liability

  

$

9,191,162

 

  

$

(9,191,162

)

  

$

—

 

Subscription liability, net of debt discount

  

$

—

 

  

$

1,060,112

 

  

$

1,060,112

 

Total current liabilities

  

$

14,676,822

 

  

$

(8,131,050

)

  

$

6,545,772

 

Total liabilities

  

$

15,435,255

 

  

$

(8,131,050

)

  

$

7,304,205

 

Additional paid-in capital

  

$

5,404,501

 

  

$

914,776

 

  

$

6,319,277

 

Accumulated deficit

  

$

(16,347,949

)

  

$

2,843,940

 

  

$

(13,504,009

)

Total shareholders’ deficit

  

$

(10,942,649

)

  

$

3,758,716

 

  

$

(7,183,933

)

Total liabilities, redeemable ordinary shares and shareholders’ deficit

  

$

39,589,273

 

  

$

(4,372,334

)

  

$

35,216,939

 
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Balance Sheet as of June 30, 2023

            

Debt discount

  

$

2,479,445

 

  

$

(2,479,445

)

  

$

—

 

Total assets

  

$

57,707,827

 

  

$

(2,479,445

)

  

$

55,228,382

 

Subscription liability

  

$

1,946,467

 

  

$

(1,946,467

)

  

$

—

 

Subscription liability, net of debt discount

  

$

—

 

  

$

467,274

 

  

$

467,274

 

Total current liabilities

  

$

7,382,247

 

  

$

(1,479,193

)

  

$

5,903,054

 

Total liabilities

  

$

7,805,705

 

  

$

(1,479,193

)

  

$

6,326,512

 

Additional paid-in capital

  

$

6,488,812

 

  

$

423,601

 

  

$

6,912,413

 

Accumulated deficit

  

$

(11,742,106

)

  

$

(1,423,853

)

  

$

(13,165,959

)

Total shareholders’ deficit

  

$

(5,252,495

)

  

$

(1,000,252

)

  

$

(6,252,747

)

Total liabilities, redeemable ordinary shares and shareholders’ deficit

  

$

57,707,827

 

  

$

(2,479,445

)

  

$

55,228,382

 
 

As Reported

  

Adjustment

  

As Restated

Unaudited Condensed Consolidated Balance Sheet as of March 31, 2023

            

Subscription liability

  

$

800,746

 

  

$

(800,746

)

  

$

—

 

Subscription liability, net of debt discount

  

$

—

 

  

$

251,880

 

  

$

251,880

 

Total current liabilities

  

$

6,533,748

 

  

$

(548,866

)

  

$

5,984,882

 

Total liabilities

  

$

8,935,451

 

  

$

(548,866

)

  

$

8,386,585

 

Additional paid-in capital

  

$

7,275,132

 

  

$

256,635

 

  

$

7,531,767

 

Accumulated deficit

  

$

(16,010,590

)

  

$

292,231

 

  

$

(15,718,359

)

Total shareholders’ deficit

  

$

(8,734,659

)

  

$

548,866

 

  

$

(8,185,793

)
 

As of September 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

ASSETS

  

 

  

 

  

 

  

 

      

 

  

 

Cash

  

$

92,722

 

  

 

  

 

      

$

92,722

 

Prepaid expense

  

 

27,550

 

  

 

  

 

      

 

27,550

 

Total current assets

  

 

120,272

 

  

 

  

 

      

 

120,272

 

Investments held in Trust Account

  

 

35,096,667

 

  

 

  

 

      

 

35,096,667

 

Debt discount

  

 

4,372,334

 

  

 

(4,372,334

)

  

b

  

 

—

 

TOTAL ASSETS

  

$

39,589,273

 

  

$

(4,372,334

)

      

$

35,216,939

 
   

 

  

 

  

 

  

 

      

 

  

 

LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

 

  

 

  

 

  

 

      

 

  

 

Accounts payable and accounts payable

  

$

3,976,694

 

  

 

  

 

      

$

3,976,694

 

Due to related party

  

 

258,966

 

  

 

  

 

      

 

258,966

 

Convertible promissory note – related party

  

 

1,000,000

 

  

 

  

 

      

 

1,000,000

 

Promissory Note – related party

  

 

250,000

 

  

 

  

 

      

 

250,000

 

Subscription liability

  

 

9,191,162

 

  

 

(9,191,162

)

  

a

  

 

—

 

Subscription liability, net of debt discount

  

 

—

 

  

 

1,060,112

 

  

a

  

 

1,060,112

 

Total current liabilities

  

 

14,676,822

 

  

 

(8,131,050

)

      

 

6,545,772

 

Warrant liabilities

  

 

758,433

 

  

 

  

 

      

 

758,433

 

Deferred underwriting commissions liabilities

  

 

—

 

  

 

 

 

      

 

—

 

TOTAL LIABILITIES

  

 

15,435,255

 

  

 

(8,131,050

)

      

 

7,304,205

 
   

 

  

 

  

 

  

 

      

 

  

 

COMMITMENTS AND CONTINGENCIES

  

 

  

 

  

 

  

 

      

 

  

 

Class A Ordinary shares subject to possible redemption, 3,255,593 and 31,921,634 shares at $10.78 and $10.15 redemption value as of September 30, 2023 and December 31, 2022, respectively

  

 

35,096,667

 

  

 

  

 

      

 

35,096,667

 
   

 

  

 

  

 

  

 

      

 

  

 

Stockholders’ Equity:

  

 

  

 

  

 

  

 

      

 

  

 

Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

  

 

—

 

  

 

  

 

      

 

—

 

Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 7,980,409 and 0 shares issued and outstanding (excluding 3,255,593 and 31,921,634 shares subject to possible redemption) as of September 30, 2023 and December 31, 2022, respectively

  

 

799

 

  

 

  

 

      

 

799

 

Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 0 and 7,980,409 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively

  

 

—

 

  

 

  

 

      

 

—

 

Additional paid-in capital

  

 

5,404,501

 

  

 

914,776

 

  

c

  

 

6,319,277

 

Accumulated deficit

  

 

(16,347,949

)

  

 

2,843,940

 

  

d

  

 

(13,504,009

)

TOTAL SHAREHOLDERS’ DEFICIT

  

 

(10,942,649

)

  

 

3,758,716

 

      

 

(7,183,933

)

TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

$

39,589,273

 

  

$

(4,372,334

)

      

$

35,216,939

 
 

As of June 30, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

ASSETS

  

 

  

 

  

 

  

 

      

 

  

 

Cash

  

$

20,880

 

  

 

  

 

      

$

20,880

 

Prepaid expense

  

 

52,885

 

  

 

  

 

      

 

52,885

 

Total current assets

  

 

73,765

 

  

 

  

 

      

 

73,765

 

Investments held in Trust Account

  

 

55,154,617

 

  

 

  

 

      

 

55,154,617

 

Debt discount

  

 

2,479,445

 

  

 

(2,479,445

)

  

b

  

 

—

 

TOTAL ASSETS

  

$

57,707,827

 

  

$

(2,479,445

)

      

$

55,228,382

 
   

 

  

 

  

 

  

 

      

 

  

 

LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

 

  

 

  

 

  

 

      

 

  

 

Accounts payable and accounts payable

  

$

3,853,954

 

  

 

  

 

      

$

3,853,954

 

Due to related party

  

 

331,826

 

  

 

  

 

      

 

331,826

 

Convertible promissory note – related party

  

 

1,000,000

 

  

 

  

 

      

 

1,000,000

 

Promissory Note – related party

  

 

250,000

 

  

 

  

 

      

 

250,000

 

Subscription liability

  

 

1,946,467

 

  

 

(1,946,467

)

  

a

  

 

—

 

Subscription liability, net of debt discount

  

 

—

 

  

 

467,274

 

  

a

  

 

467,274

 

Total current liabilities

  

 

7,382,247

 

  

 

(1,479,193

)

      

 

5,903,054

 
   

 

  

 

  

 

  

 

      

 

  

 

Warrant liabilities

  

 

423,458

 

  

 

  

 

      

 

423,458

 

Deferred underwriting commissions liabilities

  

 

—

 

  

 

 

 

      

 

—

 

TOTAL LIABILITIES

  

 

7,805,705

 

  

 

(1,479,193

)

      

 

6,326,512

 
   

 

  

 

  

 

  

 

      

 

  

 

COMMITMENTS AND CONTINGENCIES

  

 

  

 

  

 

  

 

      

 

  

 

Class A Ordinary shares subject to possible redemption, 5,228,218 and 31,921,634 shares at $10.55 and $10.15 redemption value as of June 30, 2023 and December 31, 2022, respectively

  

 

55,154,617

 

  

 

  

 

      

 

55,154,617

 
   

 

  

 

  

 

  

 

      

 

  

 

Stockholders’ Equity:

  

 

  

 

  

 

  

 

      

 

  

 

Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

  

 

—

 

  

 

  

 

      

 

—

 

Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; no shares issued and outstanding (excluding 5,228,218 and 31,921,634 shares subject to possible redemption) as of June 30, 2023 and December 31, 2022, respectively

  

 

—

 

  

 

  

 

      

 

—

 

Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 7,980,409 shares issued and outstanding as of June 30, 2023 and December 31, 2022

  

 

799

 

  

 

  

 

      

 

799

 

Additional paid-in capital

  

 

6,488,812

 

  

 

423,601

 

  

c

  

 

6,912,413

 

Accumulated deficit

  

 

(11,742,106

)

  

 

(1,423,853

)

  

d

  

 

(13,165,959

)

TOTAL SHAREHOLDERS’ DEFICIT

  

 

(5,252,495

)

  

 

(1,000,252

)

      

 

(6,252,747

)

TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

$

57,707,827

 

  

$

(2,479,445

)

      

$

55,228,382

 
 

As of March 31, 2023
   

As
Previously
Reported

  

Restatement
Impacts

  

Restatement
Reference

  

As
Restated

ASSETS

  

 

  

 

    

 

      

 

  

 

Cash

  

$

97,811

 

    

 

      

$

97,811

 

Prepaid expense

  

 

102,980

 

    

 

      

 

102,980

 

Total current assets

  

 

200,791

 

    

 

      

 

200,791

 
   

 

  

 

    

 

      

 

  

 

Investments held in Trust Account

  

 

54,368,297

 

    

 

      

 

54,368,297

 

TOTAL ASSETS

  

$

54,569,088

 

    

 

      

$

54,569,088

 
   

 

  

 

    

 

      

 

  

 

LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

 

  

 

    

 

      

 

  

 

Accounts payable and accounts payable

  

$

3,584,797

 

    

 

      

$

3,584,797

 

Due to related party

  

 

265,000

 

    

 

      

 

265,000

 

Convertible promissory note – related party

  

 

1,000,000

 

    

 

      

 

1,000,000

 

Promissory Note – related party

  

 

250,000

 

    

 

      

 

250,000

 

Subscription liability

  

 

800,746

 

  

(800,746

)

  

a

  

 

—

 

Subscription liability, net of debt discount

  

 

—

 

  

251,880

 

  

a

  

 

251,880

 

Forward Purchase Agreement liability

  

 

633,205

 

  

 

 

      

 

633,205

 

Total current liabilities

  

 

6,533,748

 

  

(548,866

)

      

 

5,984,882

 
   

 

  

 

    

 

      

 

  

 

Warrant liabilities

  

 

2,401,703

 

    

 

      

 

2,401,703

 

Deferred underwriting commissions liabilities

  

 

—

 

  

 

 

      

 

—

 

TOTAL LIABILITIES

  

 

8,935,451

 

  

(548,866

)

      

 

8,386,585

 
   

 

  

 

    

 

      

 

  

 

COMMITMENTS AND CONTINGENCIES

  

 

  

 

    

 

      

 

  

 

Class A Ordinary shares subject to possible redemption, 3,255,593 and 31,921,634 shares at $10.78 and $10.15 redemption value as of September 30, 2023 and December 31, 2022, respectively

  

 

54,368,296

 

    

 

      

 

54,368,296

 
   

 

  

 

    

 

      

 

  

 

Stockholders’ Equity:

  

 

  

 

    

 

      

 

  

 

Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding

  

 

—

 

    

 

      

 

—

 

Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 7,980,409 and 0 shares issued and outstanding (excluding 3,255,593 and 31,921,634 shares subject to possible redemption) as of September 30, 2023 and December 31, 2022, respectively

  

 

—

 

    

 

      

 

—

 

Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 0 and 7,980,409 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively

  

 

799

 

    

 

      

 

799

 

Additional paid-in capital

  

 

7,275,132

 

  

256,635

 

  

c

  

 

7,531,767

 

Accumulated deficit

  

 

(16,010,590

)

  

292,231

 

  

d

  

 

(15,718,359

)

TOTAL SHAREHOLDERS’ DEFICIT

  

 

(8,734,659

)

  

548,866

 

      

 

(8,185,793

)

TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS’ DEFICIT

  

$

54,569,088

 

    

 

      

$

54,569,088