Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of fair value hierarchy of valuation inputs

 

Description

   Amount at
Fair Value		     Level 1     Level 2     Level 3  
June 30, 2022                        
Assets                        
Investments held in Trust Account:                        
Money Market investments   $ 174,483,243     $ 174,483,243     $
—
     $
—
  
Liabilities                                
Warrant liabilities – Public Warrants   $ 2,760,000     $ 2,760,000     $
—
     $
—
  
Warrant liabilities – Private Placement Warrants   $ 2,296,000     $
—
     $
—
     $ 2,296,000  
December 31, 2021                                
Assets                                
Investments held in Trust Account:                                
Money Market investments   $ 174,230,428     $ 174,230,428     $
—
     $
—
  
Liabilities                                
Warrant liabilities – Public Warrants   $ 5,175,000     $ 5,175,000     $
—
     $
—
  
Warrant liabilities – Private Placement Warrants   $ 2,798,250     $
—
     $
—
     $ 2,798,250  

 
Schedule of the black-scholes option model for the private placement warrants
    As of
June 30,
2022		     As of
December 31,
2021		  
Stock price   $ 10.07     $ 9.96  
Strike price   $ 11.50     $ 11.50  
Probability of completing a Business Combination     38.0 %     *  
Dividend yield    
—
 %    
—
 %
Term (in years)     4.1       4.6  
Volatility     11.2 %     8.7 %
Risk-free rate     3.0 %     1.2 %
Discount for lack of marketability    
—
 %    
—
 %
Fair value of warrants   $ 0.32     $ 0.39  

 

* The probability of completing a Business Combination is considered within the volatility implied by the traded price of the Public Warrants which is used to value the Private Placement Warrants.

 
Schedule of financial instruments that are measured at fair value on a recurring basis
Fair value as of December 31, 2020   $
—
  
Initial measurement of Public Warrants and Private Placement Warrants at July 19, 2021     7,980,000  
Initial measurement of over-allotment warrants     1,071,000  
Transfer of Public Warrants to Level 1 measurement     (5,175,000 )
Change in fair value     (1,077,750 )
Fair value as of December 31, 2021     2,798,250  
Change in fair value     (861,000 )
Fair value as of March 31, 2022     1,937,250  
Change in fair value   358,750  
Fair value as of June 30, 2022   $ 2,296,000