Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
11 Months Ended
Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Summary of reconciliation of common stock subject to possible redemption

At December 31, 2021, the Class A Common stock reflected in the balance sheet are reconciled in the following table:

Gross proceeds

    

$

172,500,000

Less:

 

  

Proceeds allocated to Public Warrants

$

(5,462,500)

Class A common stock subject to possible redemption issuance costs

 

(9,447,180)

Plus:

 

  

Re-measurement of carrying value to redemption value

$

14,909,680

Class A common stock subject to possible redemption

$

172,500,000

Schedule of basic and diluted net income per common share

The following table reflects the calculation of basic and diluted net income per common share (in dollars, except per share amounts):

For the Period from

February 12,2021

(Inception) through

December 31, 2021

    

Class A

    

Class B

Basic and diluted net income per common share

Numerator:

Allocation of net income, as adjusted

 

$

2,713,033

$

1,019,669

Denominator:

Basic and diluted weighted average shares outstanding

10,836,207

4,072,688

Basic and diluted net income per common share

 

$

0.25

$

0.25