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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2021
FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured at fair value on a recurring basis

    

    

December 31, 

Description

  

Level

  

2021

Assets:

  

  

Marketable securities held in Trust Account

 

1

$

115,009,882

Liabilities:

 

  

 

  

Warrant Liability – Private Placement Warrants

 

3

$

205,703

Schedule of quantitative information regarding Level 3 fair value measurements inputs

    

At

    

    

 

March 5, 2021

 

(Initial

At

 

  

Measurement)

  

December 31, 2021

 

Stock price

$

9.78

$

9.93

Strike price

$

11.50

$

11.50

Volatility

 

14.9

%  

 

27.6

%

Risk-free rate

 

0.87

%  

 

1.22

%

Probability of Business Combination occurring

 

75

%  

 

90.0

%

Dividend yield

 

0.0

%  

 

0.0

%

Fair value of Private Placement Warrants

$

0.90

$

2.02

Schedule of change in the fair value of Level 3 warrant liabilities

      

Warrant Liabilities

Fair value as of March 5, 2021 (Initial Measurement)

$

91,800

Change in fair value

 

113,903

Fair value as of December 31, 2021

$

205,703