Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

Fair Value Measurements
3 Months Ended
Dec. 31, 2023
Fair Value Measurements [Abstract]  



The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:


  Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
  Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.
  Level 3: Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.


The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2023:


    December 31,
    Quoted Prices
Active Markets
(Level 1)
(Level 2)
(Level 3)
Marketable securities held in Trust Account   $ 170,856,457     $ 170,856,457     $


The Public Warrants were valued using a Monte Carlo model. The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. At November 24, 2023, a fair value of $0.137 per Public Warrant was determined.


The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:


    November 24,
Market price of Public Shares   $ 9.954  
Term (years)     2.52  
Risk-free rate     4.74 %
Volatility     3.8 %


Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. There were no transfers for the period from September 27, 2023 (inception) through December 31, 2023.