Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.23.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of fair value warrant liability
                               
    Amount at
Fair Value		     Level 1     Level 2     Level 3  
March 31, 2023                                
Assets                                
Investments held in Trust Account:                                
Money Market investments   $ 206,838,885     $ 206,838,885     $ -     $ -  
Liabilities                                
Warrant liability – Public Warrants     1,899,548       1,899,548     $ -     $ -  
Warrant liability – Private Placement Warrants     1,709,729       -       -       1,709,729  
    $ 3,609,277     $ 1,899,548     $ -     $ 1,709,729  
December 31, 2022                                
Assets                                
Investments held in Trust Account:                                
Money Market investments   $ 204,641,162     $ 204,641,162     $ -     $ -  
Liabilities                                
Warrant liability – Public Warrants   $ 1,599,620     $ 1,599,620     $ -     $ -  
Warrant liability – Private Placement Warrants     1,439,772       -       -       1,439,772  
    $ 3,039,392     $ 1,599,620     $ -     $ 1,439,772  
Schedule of fair value of the private placement warrants
               
    As of
March 31,
2023		     As of
December 31,
2022		  
Stock price   $ 10.27     $ 10.06  
Exercise price   $ 11.50     $ 11.50  
Dividend yield     - %     - %
Expected term (in years)     5.09       5.34  
Volatility     4.8 %     5.0 %
Risk-free rate     3.53 %     3.91 %
Fair value   $ 0.19     $ 0.16  
Schedule of fair value financial instruments
       
Fair value as of December 31, 2022 - private placement warrants   $ 1,439,771  
Change in fair value     269,958  
Fair value as of March 31, 2023 - private placement warrants   $ 1,709,729