Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.23.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Shares Subject to Possible Redemption

As of December 31, 2022 and 2021, the Class A ordinary shares subject to possible redemption reflected on the balance sheets are reconciled in the following table:

Gross Proceeds
  
$
232,000,000
  
Less:
        
Proceeds allocated to Public Warrants
    
(13,110,000
)
Class A ordinary shares issuance costs
    
(12,375,591
)
Plus:
        
Accretion of carrying value to redemption value
    
27,785,591
  
Class A ordinary shares subject to possible redemption as of December 31, 2021
  
$
232,300,000
  
Plus:
        
Accretion of carrying value to redemption value
     3,278,275  
Class A ordinary shares subject to possible redemption as of December 31, 2022
   $
235,578,275  
Reconciliation of Net Income Per Ordinary Share

A reconciliation of net income per ordinary share is as follows:


 
For the year ended
December 31, 2022
   
For the Period from
February 2, 2021 (Inception) through
December 31, 2021
  
    Class A     Class B
    
Class A
    
Class B
  
Basic and diluted net income per share
                        
Numerator:
                        
Allocation of net income, as adjusted
   $
7,913,192     $
 1,978,298    
$
4,648,873
    
$
4,837,733
  
Denominator:
                                
Basic and diluted weighted average ordinary shares outstanding
     23,000,000       5,750,000      
5,525,526
      
5,750,000
  
Basic and diluted net income per ordinary share
   $
0.34     $
 0.34    
$
0.84
    
$
0.84