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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

 

Management evaluated subsequent events and transactions that occurred after the balance sheet date, up to the date that the financial statements were issued. Based upon this review, other than as set forth below, management did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

 

Extension Note Drawdown

 

On January 12, 2023, the Company effected the second drawdown of $125,000 under the Extension Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from January 17, 2023 to February 17, 2023. Such amounts will be distributed either to: (i) all of the holders of shares of Common Stock issued as part of the units sold in the IPO upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of an Initial Business Combination.

 

On February 13, 2023, the Company effected the third drawdown of $125,000 under the Extension Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from February 17, 2023 to March 17, 2023. On March 15, 2023, the Company effected the fourth drawdown of $125,000 under the Extension Note and caused our sponsor to deposit such sum into the trust account in connection with the extension of the date by which we must consummate an initial business combination from March 17, 2023, to April 17, 2023. Such amounts will be distributed either to: (i) all of the holders of shares of Common Stock issued as part of the units sold in the IPO (“Public Shares”) upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business Combination.

 

Promissory Note Drawdown

 

On February 14, 2023, the Company effected the first drawdown of $38,000 under the Promissory Note . On February 21, 2023, the Company effected the second drawdown of $10,000 under the Promissory Note. On March 15, 2023, the Company effected the third drawdown of $58,500 under the Promissory Note . On March 28, 2023, the Company effected the fourth drawdown of $16,500 under the Promissory Note. These amounts remain outstanding as of March 31, 2023.