| Schedule of Company’s assets and liabilities that are measured at fair value on a recurring basis |
The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis
|
Description
|
|
Level
|
|
June 30,
2023
|
|
December 31,
2022
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
Investments held in Trust Account
|
|
1
|
|
$
|
—
|
|
$
|
290,737,917 |
| |
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Warrant Liabilities – Public Warrants
|
|
1
|
|
$
|
3,593,750 |
|
$
|
70,000 |
|
Warrant Liabilities – Private Placement Warrants
|
|
3
|
|
$
|
2,062,500 |
|
$
|
40,000 |
|
Forward Purchase Agreement
|
|
3
|
|
$
|
1,500,000 |
|
$
|
—
|
|
|
Description
|
|
Level
|
|
December 31,
2022
|
|
December 31,
2021
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
Investments held in Trust Account
|
|
1
|
|
$
|
290,737,917 |
|
$
|
287,523,555 |
| |
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
Warrant Liabilities – Public Warrants
|
|
1
|
|
$
|
70,000 |
|
$
|
7,618,750 |
|
Warrant Liabilities – Private Placement Warrants
|
|
3
|
|
$
|
40,000 |
|
$
|
4,372,500 |
|
| Schedule of black scholes model for the level 3 warrants |
The key inputs into the Modified Black Scholes model for the Level 3 Warrants were as follows:
|
Input
|
|
June 30,
2023
|
|
December 31, 2022
|
|
Market price of public shares
|
|
$
|
10.43 |
|
|
$
|
10.04 |
|
|
Risk-free rate
|
|
|
4.08 |
%
|
|
|
3.94 |
%
|
|
Dividend yield
|
|
|
0.00 |
%
|
|
|
0.00 |
%
|
|
Exercise price
|
|
$
|
11.50 |
|
|
$
|
11.50 |
|
|
Volatility
|
|
|
0.0 |
%
|
|
|
0.0 |
%
|
|
Term to expiration (years)
|
|
|
0.13 |
|
|
|
0.42 |
|
|
|
Input
|
|
December 31, 2022
|
|
December 31, 2021
|
|
Market price of public shares
|
|
$
|
10.04 |
|
|
$
|
9.70 |
|
|
Risk-free rate
|
|
|
3.94 |
%
|
|
|
1.30 |
%
|
|
Dividend yield
|
|
|
0.00 |
%
|
|
|
0.00 |
%
|
|
Exercise price
|
|
$
|
11.50 |
|
|
$
|
11.50 |
|
|
Volatility
|
|
|
0.0 |
%
|
|
|
9.50 |
%
|
|
Term to expiration (years)
|
|
|
0.42 |
|
|
|
5.0 |
|
|
| Schedule of changes in the fair value of Level 3 warrant liabilities |
The following tables present the changes in the fair value of Level 3 warrant liabilities:
|
|
|
Private Placement Warrants
|
|
Fair value as of January 1, 2023
|
|
$
|
40,000 |
|
Change in fair value
|
|
|
950,000 |
|
Fair value as of March 31, 2023
|
|
|
990,000 |
|
Change in fair value
|
|
|
1,072,500 |
|
Fair value as of June 30, 2023
|
|
$
|
2,062,500 |
|
|
|
Private Placement Warrants
|
|
Fair value as of January 1, 2022
|
|
$
|
4,372,500 |
|
|
Change in fair value
|
|
|
(2,310,000 |
)
|
|
Fair value as of March 31, 2022
|
|
|
2,062,500 |
|
|
Change in fair value
|
|
|
(1,642,500 |
)
|
|
Fair value as of June 30, 2022
|
|
$
|
420,000 |
|
|
|
|
|
Private
Placement
|
|
Fair value as of January 1, 2022
|
|
$
|
4,372,500 |
|
|
Change in fair value
|
|
|
(4,332,500 |
)
|
|
Fair value as of December 31, 2022
|
|
$
|
40,000 |
|
|
|
|
Private
Placement
|
|
Public
|
|
Warrant
Liabilities
|
|
Fair value as of January 1, 2021
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Initial measurement on March 4, 2021
|
|
|
7,590,000 |
|
|
|
13,081,250 |
|
|
|
20,671,250 |
|
|
Change in fair value
|
|
|
(3,217,500 |
)
|
|
|
(1,581,250 |
)
|
|
|
(4,798,750 |
)
|
|
Transfers to Level 1
|
|
|
—
|
|
|
|
(11,500,000 |
)
|
|
|
(11,500,000 |
)
|
|
Fair value as of December 31, 2021
|
|
$
|
4,372,500 |
|
|
$
|
—
|
|
|
$
|
4,372,500 |
|
|