Fair Value Measurements (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Summary of Assets Measured at Fair Value On a Recurring Basis

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at September 30, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


Description	Level		September 30, 2023		December 31, 2022
Assets:
Marketable securities held in Trust Account		1	$	85,132,545	$	239,149,736
Liabilities:
Convertible promissory notes – related party		3		1,653,337		—

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2022, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


Description	Level		December 31, 2022		December 31, 2021
Assets:
Marketable securities held in Trust Account		1	$	239,149,736	$	—

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The estimated fair value of the convertible promissory notes was based on the following significant inputs:


	September 30, 2023
Risk-free interest rate		4.60	%
Time to Expiration (in years)		5.42
Expected volatility		8.1	%
Exercise price	$	11.50
Dividend yield		0.00	%
Share Price	$	10.75
Probability of transaction		70.00	%

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents the changes in the fair value of the Level 3 convertible promissory notes:


Fair value as of January 1, 2023	$	—
Borrowings		900,555
Proceeds received in excess of initial fair value of convertible promissory notes		(288,221	)
Change in fair value		608

Fair value as of March 31, 2023		612,942
Borrowings		1,173,397
Proceeds received in excess of initial fair value of convertible promissory notes		(375,050	)
Change in fair value		15,381

Fair value as of June 30, 2023		1,426,670
Borrowings		300,000
Proceeds received in excess of initial fair value of convertible promissory notes		(95,543	)
Change in fair value		22,210

Fair value as of September 30, 2023	$	1,653,337