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INITIAL PUBLIC OFFERING
6 Months Ended
Jun. 30, 2024
Initial Public Offering  
INITIAL PUBLIC OFFERING

NOTE 3. INITIAL PUBLIC OFFERING

 

On August 12, 2022, the Company consummated its Initial Public Offering of 7,392,855 Units (including the issuance of 892,855 Units as a result of the underwriter’s partial exercise of its over-allotment option), at $10.00 per Unit, generating gross proceeds of $73,928,550.

 

Each Unit consists of one ordinary share, one warrant and one right. Each whole warrant entitles the holder thereof to purchase one ordinary share at a price of $11.50 per share, subject to adjustment as described in the IPO prospectus. Each right entitles the holder thereof to acquire one-eighth of one ordinary share (see Note 7).

 

As of August 12, 2022, the Company incurred offering costs of approximately $3,898,030, of which $2,587,499 was for deferred underwriting commissions. For the year ended December 31, 2023, the Company recorded $210,873 in offering costs and charged it to accumulated deficit.