Summary of reconciliation of Class A common stock subject to possible redemption |
At June 30, 2022 and December 31, 2021, the Class A Common stock subject to possible redemption reflected in the condensed balance sheets are reconciled in the following table:
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Gross proceeds |
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$ |
172,500,000 |
Less: |
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Proceeds allocated to Public Warrants |
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$ |
(5,462,500) |
Class A common stock issuance costs |
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(9,447,180) |
Plus: |
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Re-measurement of carrying value to redemption value |
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$ |
14,909,680 |
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Class A common stock subject to possible redemption |
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$ |
172,500,000 |
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Schedule of basic and diluted net income (loss) per common share |
The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):
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For the period from February 12, 2021 |
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Three Months Ended |
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Three Months Ended |
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Six Months Ended |
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(Inception) through |
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June 30, 2022 |
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June 30, 2021 |
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June 30, 2022 |
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June 30, 2021 |
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Class A |
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Class B |
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Class A |
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Class B |
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Class A |
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Class B |
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Class A |
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Class B |
Basic and diluted net income (loss) per common share |
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Numerator: |
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Allocation of net income (loss) |
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$ |
1,555,621 |
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$ |
388,905 |
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$ |
(355,908) |
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(632,205) |
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$ |
3,623,642 |
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$ |
905,911 |
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$ |
(356,268) |
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(632,845) |
Denominator: |
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Basic and diluted weighted average shares outstanding |
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17,250,000 |
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4,312,500 |
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2,111,111 |
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3,750,000 |
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17,250,000 |
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4,312,500 |
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2,111,111 |
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|
3,750,000 |
Basic and diluted net income (loss) per common share |
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$ |
0.09 |
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$ |
0.09 |
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$ |
(0.17) |
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|
(0.17) |
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$ |
0.21 |
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$ |
0.21 |
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$ |
(0.17) |
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(0.17) |
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