Class A Ordinary Shares Subject to Possible Redemption

6 Months Ended

Jun. 30, 2024

Class A Ordinary Shares Subject to Possible Redemption [Abstract]

Class A Ordinary Shares Subject to Possible Redemption

Note 7 — Class A Ordinary Shares Subject to Possible Redemption

The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 200,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each ordinary share. As of June 30, 2024 and December 31, 2023, there were 2,367,710 and 2,672,928 shares of Class A ordinary shares outstanding, of which 1,567,710 and 1,872,928 shares were subject to possible redemption and are classified outside of permanent equity in the unaudited condensed consolidated balance sheets, respectively.

The Class A ordinary shares subject to possible redemption reflected on the condensed consolidated balance sheets is reconciled on the following table:

Class A ordinary shares subject to possible redemption at December 31, 2022		291,425,100
Less:
Redemption of Class A ordinary shares subject to possible redemption		(273,410,361	)
Decrease in Class A ordinary shares subject to possible redemption		(7,635,278	)
Plus:
Waiver of Class A shares issuance costs		9,700,250
Class A ordinary shares subject to possible redemption at December 31, 2023		20,079,711
Less:
Redemption of Class A ordinary shares subject to possible redemption		(3,301,573	)
Plus:
Accretion of carrying value to redemption value		292,159
Class A ordinary shares subject to possible redemption at March 31, 2024		17,070,297
Plus:
Accretion of carrying value to redemption value		279,284
Class A ordinary shares subject to possible redemption at June 30, 2024	$	17,349,581