Fair Value Measurements (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Fair Value Disclosures [Abstract] |
|
Schedule of assets that are measured at fair value on a recurring basis |
| |
December 31, | | |
Quoted Prices In Active Markets | | |
Significant Other Observable Inputs | |
Significant Other Unobservable Inputs | |
| |
2022 | | |
(Level 1) | | |
(Level 2) | |
(Level 3) | |
Description | |
| | |
| | |
| |
| |
Investments held in trust account- U.S. Treasury Securities | |
| 349,927,313 | | |
| 349,927,313 | | |
| — | |
| — | |
Total Investments held in Trust Account | |
$ | 349,927,313 | | |
$ | 349,927,313 | | |
$ | — | |
$ | — | |
| |
| | | |
| | | |
| | |
| | |
Warrant liabilities – Public warrants | |
$ | 1,725,000 | | |
| | | |
$ | 1,725,000 |
| $ | — | |
Warrant liabilities – Private warrants | |
| 1,253,333 | | |
| — | | |
| — | |
| 1,253,333 | |
Convertible Note – April 1, 2022 | |
| 338,200 | | |
| — | | |
| — | |
| 338,200 | |
Convertible Note – June 6, 2022 | |
| 338,200 | | |
| — | | |
| — | |
| 338,200 | |
Convertible Note – December 14, 2022 | |
| 152,200 | | |
| — | | |
| — | |
| 152,200 | |
Total Warrant liabilities | |
$ | 3,806,933 | | |
| | | |
$ | 1,725,000 |
| $ | 2,081,933 | |
| |
December 31, | | |
Quoted Prices In Active Markets | | |
Significant Other Observable Inputs | | |
Significant Other Unobservable Inputs | |
| |
2021 | | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | |
Description | |
| | |
| | |
| | |
| |
Investments held in trust account- U.S. Money Market Fund | |
$ | 484 | | |
$ | 484 | | |
$ | — | | |
$ | — | |
Investments held in trust account- U.S. Treasury Securities | |
| 345,105,197 | | |
| 345,105,197 | | |
| — | | |
| — | |
Total Investments held in Trust Account | |
$ | 345,105,681 | | |
$ | 345,105,681 | | |
$ | — | | |
$ | — | |
| |
| | | |
| | | |
| | | |
| | |
Warrant liabilities – Public warrants | |
$ | 4,916,250 | | |
$ | 4,916,250 | | |
$ | — | | |
$ | — | |
Warrant liabilities – Private warrants | |
| 3,572,000 | | |
| — | | |
| — | | |
| 3,572,000 | |
Total Warrant liabilities | |
$ | 8,488,250 | | |
$ | 4,916,250 | | |
$ | — | | |
$ | 3,572,000 | |
|
Schedule of quantitative information regarding Level 3 fair value measurements |
| |
At December 31, | | |
At December 31, | |
| |
2022 | | |
2021 | |
Share price | |
$ | 10.10 | | |
$ | 9.68 | |
Strike price | |
$ | 11.50 | | |
$ | 11.50 | |
Term (in years) | |
| 0.38 | | |
| 0.50 | |
Volatility | |
| de minimis | | |
| 10.50 | % |
Risk-free rate | |
| 3.98 | % | |
| 1.30 | % |
Dividend yield | |
| 0.00 | % | |
| 0.00 | % |
|
Schedule of changes in the fair value of warrant liabilities |
| |
Public | | |
Private Placement | | |
Warrant Liabilities | |
| |
| | |
| | |
| |
Fair value as of January 1, 2022 | |
$ | 4,916,250 | | |
$ | 3,572,000 | | |
$ | 8,488,250 | |
Change in valuation inputs or other assumptions | |
| (3,191,250 | ) | |
| (2,318,667 | ) | |
| (5,509,917 | ) |
Fair value as of December 31, 2022 | |
$ | 1,725,000 | | |
$ | 1,253,333 | | |
$ | 2,978,333 | |
| |
Public | | |
Private Placement | | |
Warrant Liabilities | |
| |
| | |
| | |
| |
Fair value as of January 1, 2021 | |
$ | — | | |
$ | — | | |
$ | — | |
Initial measurement on March 2, 2021 | |
| 10,350,000 | | |
| 7,520,000 | | |
| 17,870,000 | |
Change in valuation inputs or other assumptions | |
| (5,433,750 | ) | |
| (3,948,000 | ) | |
| (9,381,750 | ) |
Fair value as of December 31, 2021 | |
$ | 4,916,250 | | |
$ | 3,572,000 | | |
$ | 8,488,250 | |
|
Schedule of changes in the fair value of level 3 warrant liabilities |
| |
Private Placement | | |
Public | | |
Total Warrant Liabilities | |
Fair value as of January 1, 2022 | |
$ | 3,572,000 | | |
$ | — | | |
$ | 3,572,000 | |
Change in fair value | |
| (2,318,667 | ) | |
| — | | |
| (2,318,667 | ) |
Fair value as of December 31, 2022 | |
$ | 1,253,333 | | |
$ | — | | |
$ | 1,253,333 | |
| |
Private Placement | | |
Public | | |
Total Warrant Liabilities | |
Fair value as of January 1, 2021 | |
$ | — | | |
$ | — | | |
$ | — | |
Initial measurement on March 2, 2021 | |
| 7,520,000 | | |
| 10,350,000 | | |
| 17,870,000 | |
Transfer to Level 1 | |
| — | | |
| (10,350,000 | ) | |
| (10,350,000 | ) |
Change in fair value | |
| (3,948,000 | ) | |
| — | | |
| (3,948,000 | ) |
Fair value as of December 31, 2021 | |
$ | 3,572,000 | | |
$ | — | | |
$ | 3,572,000 | |
|