Registration of securities issued in business combination transactions

Summary of Significant Accounting Policies (Tables)

v3.22.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of common stock reflected in the balance sheet are reconciled

Gross proceeds

  

$

172,500,000

 

Less:

  

 

  

 

Proceeds allocated to Public Warrants

  

 

(6,037,500

)

Proceeds allocated to Public Rights

  

 

(3,934,879

)

Issuance costs allocated to common stock

  

 

(3,672,335

)

Plus:

  

 

  

 

Accretion of carrying value to redemption value

  

 

15,369,714

 

Common stock subject to possible redemption

  

$

174,225,000

 
Schedule of basic and diluted net income (loss) per common share

 

For the year
ended
December 31,
2021

  

For the
period from
June 18,
2020
(inception)
through
December 31,
2020

Basic and diluted net loss per share:

  

 

  

 

  

 

  

 

Numerator:

  

 

  

 

  

 

  

 

Net loss

  

$

(595,442

)

  

$

(1,000

)

Denominator:

  

 

  

 

  

 

  

 

Basic weighted average shares outstanding

  

 

11,781,678

 

  

 

3,750,000

 

Basic net loss per share of Common Stock

  

$

(0.05

)

  

$

(0.00

)