Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of common stock reflected in the unaudited consolidated condensed balance sheet
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 as of December 31, 2021   $ 174,225,000  
Plus:        
Accretion of carrying value to redemption value     145,884  
Common stock subject to possible redemption as of June 30, 2022   $ 174,370,884  

 
Schedule of basic and diluted net income per share of common stock
    Three Months
Ended
June 30,
2022		     Three Months
Ended
June 30,
2021		     Six Months
Ended
June 30,
2022		     Six Months
Ended
June 30,
2021		  
Basic and diluted net income (loss) per share:                        
Numerator:                        
Net income (loss)   $ (795,831 )   $
—
     $ 1,155,839     $ —  
Denominator:                                
Basic weighted average shares outstanding     21,562,500       3,750,000       21,562,500       3,750,000  
Basic net income (loss) per share   $ (0.04 )   $ 0.00     $ 0.05     $ 0.00