Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.23.1
Condensed Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 852,934 $ 1,052,953
Prepaid expenses 96,625 187,048
Prepaid Consulting Services 244,322 434,868
Total Current Assets 1,193,881 1,674,869
Investments held in the Trust Account 241,486,666 239,149,497
Total Assets 242,680,547 240,824,366
Current Liabilities:    
Accounts payable and accrued expenses 372,084 252,593
Franchise tax payable 50,000 200,000
Income tax payable 1,279,486 707,005
Total Current Liabilities 1,701,570 1,159,598
Other long-term liabilities 1,401,500 1,380,500
Deferred underwriting commission 6,900,000 6,900,000
Total Liabilities 10,003,070 9,440,098
COMMITMENTS AND CONTINGENCIES (Note 6)
Class A common stock subject to possible redemption; 23,000,000 and no shares outstanding as of March 31, 2023 and December 31, 2022, respectively (at redemption price) 240,157,228 238,242,492
Stockholders' deficit:    
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 0 0
Additional paid-in capital 590,285 444,735
Accumulated deficit (8,070,611) (7,303,534)
Total Stockholders' Deficit (7,479,751) (6,858,224)
Total Liabilities, Common Stock subject to Possible Redemption and Stockholders' Deficit 242,680,547 240,824,366
Common Class A [Member]    
Stockholders' deficit:    
Common Stock, Value, Issued 0 0
Common Class B [Member]    
Stockholders' deficit:    
Common Stock, Value, Issued $ 575 $ 575