Registration of securities issued in business combination transactions

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.22.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2022
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

 

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 Three Months Ended March 31,

   

2022

 

2021

Basic and diluted net income per share:

 

 

   

 

 

Numerator:

 

 

   

 

 

Net income

 

$

1,951,670

 

$

Denominator

 

 

   

 

 

Basic weighted average shares outstanding

 

 

21,562,500

 

 

4,312,500

Basic net income per share of common stock

 

$

0.09

 

$

0.00

 

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

)