Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Cash $ 789,012 $ 25,000
Prepaid expenses 583,799
Total current assets 1,372,811 25,000
Investments held in Trust Account 174,226,747
Total Assets 175,599,558 25,000
Current liabilities:    
Accounts payable 74,593
Accrued expenses 103,370 1,000
Accrued expenses - related party 20,000
Franchise tax payable 24,034
Accrued offering costs 33,960
Total current liabilities 255,957 1,000
Warrant liability 12,670,500
Total Liabilities 12,926,457 1,000
Commitments and Contingencies
Common stock subject to possible redemption, $0.0001 par value; 17,250,000 and 0 shares issued and outstanding at redemption value at September 30, 2021 and December 31, 2020, respectively 174,225,000
Stockholders’ (Deficit) Equity    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2021 and December 31, 2020
Common Stock, $0.0001 par value; 30,000,000 shares authorized; 4,312,500 shares issued and outstanding (excluding 17,250,000 and 0 shares subject to possible redemption) at September 30, 2021 and December 31, 2020 [1] 431 431
Additional paid-in capital 24,569
Accumulated deficit (11,552,330) (1,000)
Total Stockholders’ (Deficit) Equity (11,551,899) [2] 24,000
TOTAL LIABILITIES, COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION AND STOCKHOLDERS’ (DEFICIT) EQUITY $ 175,599,558 $ 25,000
[1] Includes up to 562,500 common stock subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter (see Note 6). The underwriters exercised their over-allotment option in full on July 28, 2021; thus, no shares of common stock remain subject to forfeiture (see Note 7).
[2] As restated due to the review of accounting for complex financial instruments and change in fair value of warrant liabilities (see Note 2).