Class A Common Stock Subject to Possible Redemption

9 Months Ended

Sep. 30, 2022

Temporary Equity Disclosure [Abstract]

Class A Common Stock Subject to Possible Redemption

Note 8 – Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock features 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 common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of September 30, 2022 and December 31, 2021, there were 17,250,000 shares of Class A common stock outstanding, all of which were subject to redemption.

As of September 30, 2022 and December 31, 2021, Class A common stock reflected on the balance sheet is reconciled on the following table:

Gross proceeds	$	172,500,000
Less:
Proceeds allocated to Public Warrants		(9,487,500	)
Issuance costs related to Class A common stock		(4,416,724	)
Share contribution back to capital transaction		(24,569	)
Plus:
Initial remeasurement of carrying value to redemption value		17,378,793
Class A common stock subject to possible redemption as of December 31, 2021	$	175,950,000
Plus:
Subsequent remeasurement of carrying value to redemption value		466,915
Class A common stock subject to possible redemption as of September 30, 2022	$	176,416,915