Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Summary of Assets and Liabilities that are measured at fair value on a recurring basis

The following table sets forth by level within the fair value hierarchy the Company’s assets and liabilities that were accounted for at fair value on a recurring basis at March 31, 2023 and December 31, 2022:

March 31, 2023

	Level 1		Level 2		Level 3
Assets
Investments held in Trust Account	$	118,985,547	$	—	$	—
Liabilities
FPA	$	—	$	—	$	2,928,559

December 31, 2022

	Level 1		Level 2		Level 3
Assets
Investments held in Trust Account	$	118,064,355	$	—	$	—
Liabilities
FPA	$	—	$	—	$	2,708,717

FPA liability [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Summary of model for the FPA liability

The key inputs into the modified PWER model for the FPA liability were as follows:

Input	March 31, 2023			December 31, 2022
Probability of successful business combination		85	%		85	%
Likelihood by 04/30/2023		—	%		15	%
Likelihood by 06/30/2023		5	%		15	%
Likelihood by 8/31/2023		15	%		—	%
Likelihood by 10/31/2023		80	%		70	%
Risk-free rate		4.91	%		4.75	%
Stock price	$	10.27		$	10.11
Estimated term remaining (years)		0.54			0.71

Summary of reconciliation of changes in fair value for the FPA liability classified as Level 3

The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the FPA liability classified as Level 3 for the year ended March 31, 2023 and December 31, 2022:

Fair Value at December 31, 2022		2,708,717
Change in fair value		219,842
Fair Value at March 31, 2023	$	2,928,559