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Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value Liabilities measured on Recurring Basis

The following table presents information about the Company’s financial liabilities that are measured at fair value on a recurring basis as of the initial issuance date, December 31, 2021, by level within the fair value hierarchy:

 Schedule of Fair Value Liabilities measured on Recurring Basis

		Fair Value Measurements Using
		(Level 1)				(Level 2)				(Level 3)				Total
Description
Liabilities:
Warrant liabilities - public warrants		$	4,655,200			$	-			$	-				4,655,200
Warrant liabilities – private placement warrants		$	-			$	-			$	2,414,101				2,414,101
Total		$	4,655,200			$	-			$	2,414,101			$	7,069,301

Schedule of Fair Value Measurements

The following table provides quantitative information regarding Level 3 fair value measurements inputs for private placement warrants at their measurement dates:

Schedule of Fair Value Measurements 

		At August 16, 2021 (Initial Measurement)				At December 31, 2021
Share price		$	10.00			$	9.90
Exercise price		$	11.50			$	11.50
Expected dividend yield			0	%			0	%
Expected volatility			9.02	%			24.0	%
Risk-free interest rate			0.42	%			0.54	%
Expected life (in years)			3.17				0.98

Schedule of Fair Value Warrant Liabilities

The following table presents the changes in the fair value of warrant liabilities:

Schedule of Fair Value Warrant Liabilities 

		Private								Total
		Placement				Public				Warrant
		Warrants				Warrants				Liabilities
Fair value as of April 12, 2021 (inception)		$	-			$	-			$	-
Initial measurement on August 16, 2021			1,205,295				2,407,205				3,612,500
Change in valuation inputs or other assumptions			1,208,801				2,247,995				3,456,801
Fair value as of December 31, 2021		$	2,414,101			$	4,655,200			$	7,069,301

Fair Value, Inputs, Level 3 [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value Warrant Liabilities

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the liabilities classified as Level 3:

Schedule of Fair Value Warrant Liabilities 

		Private
		Placement				Public				Warrant
		Warrants				Warrants				Liabilities
Fair value of Level 3 warrants at April 12, 2021 (inception)		$	-			$	-			$	-
Initial fair value as of August 16, 2021			1,205,295				2,407,205				3,612,500
Change in valuation inputs or other assumptions			1,208,806				2,247,995				3,456,801
Transfer to Level 1			—				(4,655,200	)			(4,655,200	)
Fair value of Level 3 warrants at December 31, 2021		$	2,414,101			$	-			$	2,414,101

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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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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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

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