Quarterly report pursuant to Section 13 or 15(d)

Recurring Fair Value Measurements (Tables)

v3.23.2
Recurring Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities that are measured at fair value on a recurring basis
The following
tables present
fair value information as of June 30, 2023 and December 31, 2022, of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and
indicate
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
 
Liabilities:
                          
Public Warrants
   $ 1,536,975      $ —        $ —    
Private Warrants
     —          —          1,585,700  
    
 
 
    
 
 
    
 
 
 
Total Liabilities
   $ 1,536,975      $ —        $ 1,585,700  
    
 
 
    
 
 
    
 
 
 
 
December 31, 2022
  
Level 1
    
Level 2
    
Level 3
 
Assets
                          
Investments held in Trust Account
   $ 356,976,495      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Total Assets
   $ 356,976,495      $ —        $ —    
    
 
 
    
 
 
    
 
 
 
Liabilities
                          
Public Warrants
   $ 1,093,650      $ —        $ —    
Private Warrants
     —          —          1,125,515  
    
 
 
    
 
 
    
 
 
 
Total Liabilities
   $ 1,093,650      $ —        $ 1,125,515  
    
 
 
    
 
 
    
 
 
 
Summary of simulation model for the private placement warrants and public warrants
The following table provides quantitative information regarding Level 3 fair value measurements:
 
    
June 30,
2023
   
December 31,
2022
 
Share price
   $ 10.60     $ 10.27  
Strike price
     11.50     $ 11.50  
Term (in years)
     1.25       5.41  
Volatility
     3.3     7.8
Risk-free rate
     5.27     4.74
Dividend yield
     0       0  
Summary Of Reconciliation Of Changes In Fair Value Of warrant Liabilities
The following table presents the changes in the fair value of Level 3 warrant liabilities:
 
    
Private
Placement
    
          Public          
    
Warrant
Liabilities
 
Fair value as of December 31, 2022
  
$
1,125,515
 
  
$
—  
    
$
1,125,515
 
Change in fair value
     558,888        —          558,888  
    
 
 
    
 
 
    
 
 
 
Fair value as of March 31, 2023
  
 
1,684,403
 
  
 
—  
 
  
 
1,684,403
 
Change in fair value
     (98,703      —          (98,703
    
 
 
    
 
 
    
 
 
 
Fair value as of June 30, 2023
  
$
1,585,700
 
  
$
—  
    
$
1,585,700