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Recurring Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2023
Recurring Fair Value Measurements [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, 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 |
Assets |  |  |  |  |  |  |  |  |
Investments held in Trust Account |  | $ | 60,420,423 |  |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Public Warrants |  | $ | 805,000 |  |  | $ | — |  |  | $ | — |
Private Warrants |  | $ | — |  |  | $ | — |  |  | $ | 784,000 |
Working Capital Loan conversion option |  | $ | — |  |  | $ | — |  |  | $ | — |
|  | December 31, 2022 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets |  |  |  |  |  |  |  |  |
Investments held in Trust Account |  | $ | 237,038,010 |  |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Public Warrants |  | $ | 575,000 |  |  | $ | — |  |  | $ | — |
Private Warrants |  | $ | — |  |  | $ | — |  |  | $ | 560,000 |
Key Inputs into Binomial Lattice Model | The key inputs into the binomial lattice model were as follows at June 30, 2023 and December 31, 2022:
Input |  | June 30, 2023 |  |  | December 31, 2022 |
Risk-free interest rate |  |  | 4.07 | % |  |  | 3.95 | %
Expected term to initial Business Combination (years) |  |  | 0.25 |  |  |  | 0.25 |
Expected volatility |  |  | de minimis |  |  |  | de minimis |
Common stock price |  | $ | 10.52 |  |  | $ | 10.18 |
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Changes in Fair Value of Warrants | The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the Company’s warrants classified as Level 3 for the period ended June 30, 2023 and December 31, 2022:
Fair Value at December 31, 2022 – private warrants |  | $ | 560,000 |
Change in fair value |  |  | — |
Fair Value at March 31, 2023 – private warrants |  | $ | 560,000 |
Change in fair value |  |  | 224,000 |
Fair Value at June 30, 2023 – private warrants |  | $ | 784,000 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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