FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2022

FAIR VALUE MEASUREMENTS

Schedule of financial liabilities that are measured at fair value on a recurring basis

	Amount at
Description	Fair Value		Level 1		Level 2		Level 3
March 31, 2022
Assets
Investments held in Trust Account:
Money Market investments	$	128,437,281	$	128,437,281	$	—	$	—
Liabilities
Warrant liabilities – Private Warrants	$	601,622	$	—	$	—	$	601,622

	Amount at
Description	Fair Value		Level 1		Level 2		Level 3
December 31, 2021
Assets
Investments held in Trust Account:
Money Market investments	$	128,421,215	$	128,421,215	$	—	$	—
Liabilities
Warrant liability – Private Placement Warrants	$	2,036,258	$	—	$	—	$	2,036,258

Schedule of significant inputs to the Black-Scholes method for the fair value

	As of December			As of March
	31, 2021			31, 2022
Common stock price	$	9.97		$	10.07
Exercise price	$	11.50		$	11.50
Dividend yield		—	%		—	%
Term to Business Combination (years)		4.61			4.36
Volatility		9.1	%		2.9	%
Risk-free rate		1.20	%		2.43	%
Fair value	$	0.44		$	0.13

Summary of the changes in the fair value of the Level 3 financial instruments that are measured at fair value on a recurring basis

Fair value as of June 23, 2020 (inception)		—
Initial measurement		5,553,429
Change in valuation inputs or other assumptions		(3,517,171)
Fair value at December 31, 2021	$	2,036,258
Change in valuation inputs or other assumptions		1,434,636
Fair value at March 31, 2022	$	601,622