CXApp (CXAI) 10-K/A 21 Apr 23 2022 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 20, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K/A
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	001-39642
Entity Registrant Name	CXApp Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2104918
Entity Address, Address Line One	Four Palo Alto Square,
Entity Address, Address Line Two	Suite 200
Entity Address, Address Line Three	3000 El Camino Real
Entity Address, City or Town	Palo Alto
Entity Address State Or Province	CA
Entity Address, Postal Zip Code	94306
City Area Code	650
Local Phone Number	575-4456
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
ICFR Auditor Attestation Flag	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001820875
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	true
Amendment Description	Amendment No. 2
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Public Float			$ 9,474,709
Auditor Name	WithumSmith+Brown, PC
Auditor Firm ID	100
Auditor Location	New York, New York
Class A Common Stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		8,582,699
Class B Common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		5,487,300
Common Stock
Document and Entity Information
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	CXAI
Security Exchange Name	NASDAQ
Warrants to purchase common stock
Document and Entity Information
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	CXAIW
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 224,489	$ 406,126
Prepaid expenses	3,536	126,667
Total current assets	228,025	532,793
Cash and investments held in trust account	3,923,804	278,836,080
TOTAL ASSETS	4,151,829	279,368,873
Current liabilities
Accrued expenses	2,833,412	767,253
Income taxes payable	49,175
Promissory note - related party	347,961
Total current liabilities	3,230,548	767,253
Derivative liabilities	722,400	11,275,369
Deferred underwriting fee payable		9,660,000
TOTAL LIABILITIES	3,952,948	21,702,622
Commitments and Contingencies
Class A common stock subject to possible redemption, 387,551 and 27,600,000 shares at $10.10 per share redemption value as of December 31, 2022 and 2021, respectively	3,914,265	278,760,000
Stockholders' Deficit
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued or outstanding	0	0
Additional paid-in capital	0	0
Accumulated deficit	(3,716,074)	(21,094,439)
Total Stockholders' Deficit	(3,715,384)	(21,093,749)
TOTAL LIABILITIES, CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION AND STOCKHOLDERS' DEFICIT	4,151,829	279,368,873
Class A common stock subject to possible redemption
Current liabilities
Class A common stock subject to possible redemption, 387,551 and 27,600,000 shares at $10.10 per share redemption value as of December 31, 2022 and 2021, respectively	3,914,265	278,760,000
Class A Common Stock Subject to Redemption
Stockholders' Deficit
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 6,900,000 shares issued and outstanding at December 31, 2022 and 2021	$ 690	$ 690

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Sep. 25, 2022	Dec. 31, 2021	Dec. 14, 2020
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	2,000,000		2,000,000
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, par value (in dollars per share)		$ 0.00001
Class A common stock subject to possible redemption
Class A common stock subject to possible redemption	387,551		27,600,000
Purchase price, per unit (in dollars per share)	$ 10.10		$ 10.10
Class B Common stock
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001	$ 0.0001
Common shares, shares authorized	20,000,000		20,000,000
Common shares, shares issued	6,900,000		6,900,000
Common shares, shares outstanding	6,900,000		6,900,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating and formation costs	$ 2,950,464	$ 1,497,914
Loss from operations	(2,950,464)	(1,497,914)
Other income:
Interest earned on cash and investments held in Trust Account	421,504	68,295
Interest income - bank	76	72
Change in fair value of derivative liability	10,552,969	10,637,431
Gain on forgiveness of deferred underwriting fee	371,910
Other income	11,346,459	10,705,798
Income before provision for income taxes	8,395,995	9,207,884
Provision for income taxes	(49,175)
Net income	$ 8,346,820	$ 9,207,884
Class A Common Stock
Other income:
Weighted average shares outstanding, basic (in shares)	12,546,423	27,600,000
Weighted average shares outstanding, diluted (in shares)	12,546,423	27,600,000
Basic net income per share (in dollars per share)	$ 0.43	$ 0.27
Diluted net income per share (in dollars per share)	$ 0.43	$ 0.27
Class B Common stock
Other income:
Weighted average shares outstanding, basic (in shares)	6,900,000	6,900,000
Weighted average shares outstanding, diluted (in shares)	6,900,000	6,900,000
Basic net income per share (in dollars per share)	$ 0.43	$ 0.27
Diluted net income per share (in dollars per share)	$ 0.43	$ 0.27

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)	Class A Common Stock Common Stock	Class B Common stock Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at the beginning at Dec. 31, 2020	$ 0	$ 690	$ 0	$ (30,302,323)	$ (30,301,633)
Balance at the beginning (in shares) at Dec. 31, 2020	0	6,900,000
CHANGES IN STOCKHOLDERS' DEFICIT
Change in value of common stock subject to redemption				9,031,545	9,031,545
Net income				9,207,884	9,207,884
Balance at the end at Dec. 31, 2021	$ 0	$ 690	0	(21,094,439)	(21,093,749)
Balance at the end (in shares) at Dec. 31, 2021	0	6,900,000
CHANGES IN STOCKHOLDERS' DEFICIT
Net income					8,651,526
Balance at the end at Jun. 30, 2022				(3,397,128)
Balance at the beginning at Dec. 31, 2021	$ 0	$ 690	0	(21,094,439)	(21,093,749)
Balance at the beginning (in shares) at Dec. 31, 2021	0	6,900,000
CHANGES IN STOCKHOLDERS' DEFICIT
Change in value of common stock subject to redemption				(9,031,545)
Net income				8,346,820	8,346,820
Balance at the end at Dec. 31, 2022	$ 0	$ 690	$ 0	(3,716,074)	(3,715,384)
Balance at the end (in shares) at Dec. 31, 2022	0	6,900,000
Balance at the beginning at Mar. 31, 2022				(13,225,580)
CHANGES IN STOCKHOLDERS' DEFICIT
Change in value of common stock subject to redemption				(9,045,095)
Net income				783,357	$ 783,357
Balance at the end at Jun. 30, 2022				$ (3,397,128)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Net income	$ 8,346,820	$ 9,207,884
Adjustments to reconcile net income to net cash used in operating activities:
Interest earned on cash and investments held in Trust Account	(421,504)	(68,295)
Change in fair value of derivative liability	(10,552,969)	(10,637,431)
Gain on forgiveness of deferred underwriting fee	(371,910)
Changes in operating assets and liabilities:
Prepaid expenses	123,131	329,967
Income tax payable	49,175
Accounts payable and accrued expenses	2,066,159	572,554
Net cash used in operating activities	(761,098)	(595,321)
Cash Flows from Investing Activities:
Cash withdrawn from trust account to pay franchise tax	231,500	0
Cash withdrawn from trust account in connection with redemptions	275,102,280
Net cash provided by investing activities	275,333,780
Cash Flows from Financing Activities:
Redemptions of common stock	(275,102,280)
Borrowings under promissory note	347,961
Payment of offering costs		(17,579)
Net cash used in financing activities	(274,754,319)	(17,579)
Net Change in Cash	(181,637)	(612,900)
Cash - Beginning of period	406,126	1,019,026
Cash -End of period	224,489	406,126
Non-cash investing and financing activities:
Change in value of Class A common stock subject to possible redemption	256,545
Forgiveness of deferred underwriting fee payable allocated to Class A common stock	$ (9,288,090)
Deferred Underwriting Fees Payable		$ 9,660,000

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	12 Months Ended
	Dec. 31, 2022
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS.
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS CXApp Inc. (the “Company”) was incorporated in Delaware on July 20, 2020 as KINS Technology Group Inc. (“KINS”). The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company has one wholly-owned subsidiary, KINS Merger Sub Inc., which was incorporated in the State of Delaware on September 16, 2022 (“Merger Sub”). Merger Sub has no activity from date of incorporation, September 16, 2022 through December 31, 2022. As of December 31, 2022, the Company had not commenced any operations. All activity for the period from July 20, 2020 (inception) through December 31, 2022 relates to the Company’s formation, the initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The registration statement for the Company’s Initial Public Offering became effective on December 14, 2020. On December 17, 2020, the Company consummated the Initial Public Offering of 27,600,000 units (the “Units” and, with respect to the Class A common stock included in the Units sold, the “Public Shares”), which includes the full exercise by the underwriter of its over-allotment option in the amount of 3,600,000 Units, at $10.00 per Unit, generating gross proceeds of $276,000,000 which is described in Note 3. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 10,280,000 warrants (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to KINS Capital LLC (the “Sponsor”) and certain funds and accounts managed by BlackRock, Inc. (the “Direct Anchor Investors” and which the Direct Anchor Investors, together with the Sponsor, are the “initial stockholders”), generating gross proceeds of $10,280,000,which is described in Note 4. Transaction costs incurred amounted to $15,688,848, consisting of $5,520,000 in cash underwriting fees, $9,660,000 of deferred underwriting fees and $508,848 of other offering costs. Following the closing of the Initial Public Offering on December 17, 2020, an amount of $278,760,000 ($10.10 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”), located in the United States and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting certain conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds held in the Trust Account, as described below. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the Trust Account). The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company Act. The Company will provide the holders of the outstanding Public Shares (the “Public Stockholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company. The Public Stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.10 per Public Share, plus any pro rata interest then in the Trust Account, net of taxes payable). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Company will only proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 following any related redemptions and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of the Business Combination.). On December 9, 2022 the Special Meeting the Stockholders voted to allow the Company to redeem shares of Class A Common Stock in connection with the amendment to the Charter to the extent that such redemption would result in the Company having net tangible assets of less than $5,000,001. If a stockholder vote is not required by applicable law or stock exchange listing requirements and the Company does not decide to hold a stockholder vote for business or other reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by applicable law or stock exchange listing requirements, or the Company decides to obtain stockholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each Public Stockholder may elect to redeem their Public Shares without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction. Notwithstanding the foregoing, if the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Certificate of Incorporation will provide that a Public Stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 20% of the Public Shares, without the prior consent of the Company. The Sponsor has agreed (a) to waive its redemption rights with respect to the Founder Shares and Public Shares held by it in connection with the completion of a Business Combination and (b) not to propose an amendment to the Certificate of Incorporation (i) to modify the substance or timing of the Company’s obligation to allow redemptions in connection with a Business Combination or to redeem 100% of its Public Shares if the Company does not complete a Business Combination within the Extended Combination Period (as defined below) or (ii) with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment. The Company previously had until June 17, 2022 to consummate a business combination. On June 10, 2022, the Company held a special meeting of stockholders pursuant to which its stockholders approved amending the Company’s amended and restated certificate of incorporation (the “Initial Charter Amendment”) to extend the date by which the Company has to consummate a business combination from June 17, 2022 to December 16, 2022. The Company’s stockholders approved the Initial Charter Amendment and as such the Company had until December 16, 2022 to consummate a business combination. On December 9, 2022, the Company held a special meeting of the stockholders in which the stockholders approved the proposal to amend the Company’s amended and restated certificate of incorporation (the “Charter Amendment”) to (A) extend the date by which the Company must (1) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, (2) cease its operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the shares of Class A common stock, par value $0.0001 per share, of the Company (“Class A Common Stock”), included as part of the units sold in the IPO, from December 16, 2022 to June 15, 2023 (the “Extended Combination Period”), and (B) allow the Company to redeem shares of Class A Common Stock in connection with the amendment to the Charter to the extent that such redemption would result in the Company having net tangible assets of less than $5,000,001. On December 14, 2022, the Company filed the Charter Amendment with the Secretary of State of the State of Delaware. If we have not completed a Business Combination by June 15, 2023 or during any extended time that we have to consummate a Business Combination beyond June 15, 2023 as a result of a stockholder vote to amend its certificate of incorporation, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten The Sponsor has agreed to waive its liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Extended Combination Period. However, if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Extended Combination Period. The underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Extended Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than $10.10 per Unit. In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.10 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.10 per Public Share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to monies held in the Trust Account nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the Company’s independent registered accounting firm), prospective target businesses and other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. Liquidity and Going Concern As of December 31, 2022, the Company had $224,489 in its operating bank accounts and a working capital deficit of $3,002,523. Prior to the completion of the Initial Public Offering, the Company’s liquidity needs had been satisfied through a contribution of $25,000 from Sponsor to cover for certain offering costs in exchange for the issuance of the Founder Shares, unsecured, non-interest bearing promissory note of up to $300,000 from the Sponsor, and the proceeds from the consummation of the Private Placement not held in the Trust Account. The Note was repaid subsequent to the Initial Public Offering. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans. As of December 31, 2022 and 2021, there were no amounts outstanding under any Working Capital Loan. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company has until June 15, 2023 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by this time. Additionally, the Company may not have sufficient liquidity to fund the working capital needs of the Company through one year from the issuance of these consolidated financial statements. If a business combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of the Company. Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution, raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after June 15, 2023. The Company intends to complete a Business Combination before the mandatory liquidation date. However, there can be no assurance that the Company will be able to consummate any Business Combination by June 15, 2023. In addition, the Company may need to raise additional capital through loans or additional investments from our Sponsor, stockholders, officers, directors or third parties. The Company’s officers, directors and Sponsor may, but are not obligated to, loan the Company funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. Accordingly, the Company may not be able to obtain additional financing. If the Company is unable to raise additional capital, the Company may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern through the liquidation date of June 15, 2023.

RESTATEMENT OF PREVIOUSLY ISSUE

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2022
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	NOTE 2. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company had recognized a liability upon closing of their initial public offering in December 2020 for a portion of the underwriter’s commissions which was contingently payable upon closing of a future business combination, with the offsetting entry resulting in an initial discount to the securities sold in the initial public offering. The underwriter waived all claims to this deferred commission in June 2022. The Company previously recognized the waiver as an extinguishment, with a resulting non-operating gain recognized in its statement of operations for the three and six months ended June 30, 2022, nine months ended September 30, 2022 and the year ended December 31, 2022. Upon subsequent review and analysis, management concluded that the Company should have recognized the extinguishment of the contingent liability as a reversal in the same relative allocation applied at the initial public offering. Therefore, the Company’s management and the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) concluded that the Company’s previously issued audited financial statements as of December 31, 2022 (the “Annual Report”) should no longer be relied upon and that it is appropriate to restate the Annual Report. As such, the Company will restate its financial statements in this Form 10-K/A for the Company’s unaudited financial statements for three and six months ended June 30, 2022, nine months ended September 30, 2022, and the audited financial statements for the year ended December 31, 2022 included in the Annual Report on the Company’s Form 10-K, as filed with the Securities and Exchange Commission (“SEC”) on March 21, 2023 (the “Original Filing”). Impact of the Restatement The impact of the restatement on the consolidated statements of operations, statements of changes in stockholders’ deficit and statements of cash flows for the affected period is presented below. The restatement had no impact on net cash flows from operating, investing or financing activities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Three Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 10,396,046 ​ (9,288,090) ​ 1,107,956 Income (loss) before benefit from (provision for) income taxes ​ 10,094,313 ​ (9,288,090) ​ 806,223 Net Income ​ 10,071,447 ​ (9,288,090) ​ 783,357 Basic and diluted weighted average shares outstanding - Class A common stock ​ 14,481,736 ​ — ​ 14,481,736 Basic and diluted earnings per share - Class A common stock ​ $ 0.47 ​ $ (0.43) ​ $ 0.04 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.47 ​ $ (0.43) ​ $ 0.04 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Six Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 18,587,467 ​ (9,288,090) ​ 9,299,377 Income (loss) before benefit from (provision for) income taxes ​ 17,962,482 ​ (9,288,090) ​ 8,674,392 Net Income ​ 17,939,616 ​ (9,288,090) ​ 8,651,526 Basic and diluted weighted average shares outstanding - Class A common stock ​ 21,004,630 ​ — ​ 21,004,630 Basic and diluted earnings per share - Class A common stock ​ $ 0.64 ​ $ (0.33) ​ $ 0.31 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.64 ​ $ (0.33) ​ $ 0.31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Nine Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 20,560,364 ​ (9,288,090) ​ 11,272,274 Income (loss) before benefit from (provision for) income taxes ​ 18,838,653 ​ (9,288,090) ​ 9,550,563 Net Income ​ 18,811,924 ​ (9,288,090) ​ 9,523,834 Basic and diluted weighted average shares outstanding – Class A common stock ​ 16,466,455 ​ — ​ 16,466,455 Basic and diluted earnings per share – Class A common stock ​ $ 0.81 ​ $ (0.40) ​ $ 0.41 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.81 ​ $ (0.40) ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment ​ As Restated Statement of Operations for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 20,634,549 ​ (9,288,090) ​ 11,346,459 Income (loss) before benefit from (provision for) income taxes ​ 17,684,085 ​ (9,288,090) ​ 8,395,995 Net Income ​ 17,634,910 ​ (9,288,090) ​ 8,346,820 Basic and diluted weighted average shares outstanding - Class A common stock ​ 12,546,423 ​ — ​ 12,546,423 Basic and diluted earnings per share - Class A common stock ​ $ 0.91 ​ $ (0.48) ​ $ 0.43 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.91 ​ $ (0.48) ​ $ 0.43 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Deficit ​ ​ As Previously ​ ​ ​ ​ ​ ​ ​ Reported Adjustment As Restated Unaudited Statement of Changes in Stockholders’ Deficit for the Three Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance – March 31, 2022 ​ $ (13,226,270) ​ $ — ​ $ (13,225,580) Net income ​ ​ 10,071,447 ​ (9,288,090) ​ 783,357 Accretion of Class A common stock to redemption value ​ ​ (242,995) ​ ​ 9,288,090 ​ ​ 9,045,095 Balance – June 30, 2022 $ (3,397,818) ​ $ — ​ $ (3,397,128) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Deficit ​ ​ As Previously ​ ​ ​ ​ ​ ​ ​ Reported Adjustment As Restated Statement of Changes in Stockholders’ Deficit for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Balance – December 31, 2021 ​ $ (21,094,439) ​ $ — ​ $ (21,094,439) Net income ​ ​ 17,634,910 ​ ​ (9,288,090) ​ ​ 8,346,820 Accretion of Class A common stock to redemption value ​ ​ (256,545) ​ ​ 9,288,090 ​ ​ 9,031,545 Balance – December 31, 2022 $ (3,716,074) $ — $ (3,716,074) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ Reported ​ Adjustment ​ As Restated Unaudited Statement of Cash Flows for the Six Months Ended June 30, 2022 ​ ​ ​ Net Income ​ 17,939,616 ​ (9,288,090) ​ 8,651,526 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ Reported ​ Adjustment ​ As Restated Unaudited Statement of Cash Flows for the Nine Months Ended September 30, 2022 ​ ​ ​ Net Income ​ 18,811,924 ​ (9,288,090) ​ 9,523,834 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment As Restated Statement of Cash Flows for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Net Income ​ 17,634,910 ​ (9,288,090) ​ 8,346,820 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090) ​

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”). As described in Note 2—Restatement of Previously Issued Financial Statements, the Company’s financial statements for the year ended December 31, 2022 (collectively, the “Affected Period”), are restated in this Annual Report on Form 10-K/A (Amendment No. 1) (this “Annual Report”) to correct the misapplication of accounting guidance related to the liability extinguishment in the Company’s previously issued audited financial statements for such period. The restated financial statements are indicated as “Restated” in the audited financial statements and accompanying notes, as applicable. See Note 2—Restatement of Previously Issued Financial Statements for further discussion. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the warrant liabilities. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of six months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2022 and 2021. Concentration of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Class A Common Stock Subject to Possible Redemption The Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Shares of Class A common stock subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable common stock (including common stock that features redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, as of December 31, 2022 and 2021, 387,551 and 27,600,000 shares of Class A common stock subject to possible redemption are presented as temporary equity, outside of the stockholders’ deficit section of the Company’s consolidated balance sheets, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges against additional paid in capital (to the extent available) and accumulated deficit. At December 31, 2022 and 2021, the Class A common stock reflected in the consolidated balance sheets are reconciled in the following table: ​ ​ ​ ​ ​ Class A common stock subject to possible redemption, January 1, 2021 $ 278,760,000 Plus: ​ Accretion of carrying value to redemption value ​ ​ — Class A common stock subject to possible redemption, December 31, 2021 ​ ​ 278,760,000 Plus: ​ ​ ​ Waiver of Class A common stock issuance costs ​ ​ 9,288,090 Less: ​ ​ ​ Accretion of carrying value to redemption value ​ ​ (9,031,545) Redemption of Class A Common Stock ​ ​ (275,102,280) Class A common stock subject to redemption, December 31, 2022 ​ $ 3,914,265 ​ Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to warrant liabilities were expensed as incurred in the consolidated statements of operations. Offering costs associated with the Class A common stock issued were initially charged to temporary equity. Offering costs incurred amounted to $15,688,848, consisting of $5,520,000 in cash underwriting fees, $9,660,000 of deferred underwriting fees and $508,848 of other offering costs, of which $15,239,420 was charged to temporary equity and $449,428 was allocated to the warrant liability and expensed through the consolidated statements of operations. Derivative Warrant Liabilities The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statements of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a binomial lattice model. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value of the Warrants (as defined below) as of each relevant date. Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” ASC 740, Income Taxes, requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740-270-25-2 requires that an annual effective tax rate be determined and such annual effective rate applied to year to date income in interim periods under ASC 740-270-30-5. As of December 31, 2022 and December 31, 2021, the Company’s deferred tax asset had a full valuation allowance recorded against it. The Company’s effective tax rate was 0.3% and 0.0%, respectively. The effective tax rate differs from the statutory tax rate of 21% for the years ended December 31, 2022 and 2021, due to changes in fair value in warrant liability and the valuation allowance on the deferred tax assets. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2022 and December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has identified the United States as its only “major” tax jurisdiction. The Company is subject to income taxation by major taxing authorities since inception. These examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Net Income per Common Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. The Company applies the two-class method in calculating earnings per share. Accretion associated with the redeemable shares of Class A common stock is excluded from earnings per share as the redemption value approximates fair value. The calculation of diluted income per share does not consider the effect of the Warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the Warrants is contingent upon the occurrence of future events. The Warrants are exercisable to purchase 24,080,000 shares of Class A common stock in the aggregate. As of December 31, 2022 and 2021, the Company did not have any other dilutive securities or other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted net income per common share is the same as basic net income per common share for the periods presented. The following table reflects the calculation of basic and diluted net income per common share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ ​ 2022 ​ 2021 ​ Class A Class B Class A Class B Basic and diluted net income per common stock ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income, as adjusted ​ $ 5,385,193 ​ $ 2,961,627 ​ $ 7,366,307 ​ $ 1,841,577 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ ​ 12,546,423 ​ ​ 6,900,000 ​ ​ 27,600,000 ​ ​ 6,900,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per common stock ​ $ 0.43 ​ $ 0.43 ​ $ 0.27 ​ $ 0.27 ​ Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-term nature, except the derivative warrant liabilities (see Note 10). Recent Accounting Standards In August 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company adopted ASU 2020-06 as of January 1, 2021 and the adoption did not have an impact on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

PUBLIC OFFERING

PUBLIC OFFERING	12 Months Ended
	Dec. 31, 2022
PUBLIC OFFERING
PUBLIC OFFERING	NOTE 4 — PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 27,600,000 Units which includes a full exercise by the underwriters of their over-allotment option in the amount of 3,600,000 Units, at a price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and one

PRIVATE PLACEMENT

PRIVATE PLACEMENT	12 Months Ended
	Dec. 31, 2022
PRIVATE PLACEMENT.
PRIVATE PLACEMENT	NOTE 5 — PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor and the Direct Anchor Investors purchased an aggregate of 10,280,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, or $10,280,000. Each Private Placement Warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment (see Note 8). The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Extended Combination Period, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

RELATED PARTIES

RELATED PARTIES	12 Months Ended
	Dec. 31, 2022
RELATED PARTIES
RELATED PARTIES	NOTE 6 — RELATED PARTIES Founder Shares On July 27, 2020, the Sponsor paid $25,000 to cover certain offering costs of the Company in consideration for 5,750,000 shares of Class B common stock (the “Founder Shares”). In October 2020, the Sponsor forfeited 625,000 Founder Shares and the Direct Anchor Investors purchased 625,000 Founder Shares for an aggregate purchase price of $2,717, or approximately $0.004 per share. In December 2020, the Company effected a 1:1.2 stock split of its Class B common stock, resulting in the Sponsor holding an aggregate of 6,150,000 Founder Shares, the Direct Anchor Investors holding an aggregate of 750,000 Founder Shares and there being an aggregate of 6,900,000 Founder Shares outstanding. The Founder Shares included an aggregate of up to 900,000 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment was not exercised in full or in part, so that the number of Founder Shares would equal, on an as-converted basis, approximately 20% of the Company’s issued and outstanding common stock after the Initial Public Offering. As a result of the underwriters’ election to fully exercise their over-allotment option, no Founder Shares are currently subject to forfeiture. The initial stockholders have agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of: (A) one year after the completion of a Business Combination and (B) subsequent to a Business Combination, (x) if the last reported sale price of the Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Public Stockholders having the right to exchange their shares of common stock for cash, securities or other property. Administrative Services Agreement The Company entered into an agreement, commencing on December 14, 2020 through the earlier of the Company’s consummation of a Business Combination and its liquidation, to pay the Sponsor a total of up to $20,000 per month for office space, utilities and secretarial and administrative support. For each of the years ended December 31, 2022 and 2021, the Company incurred and paid $240,000 in fees for these services. Promissory Note — Related Party On August 10, 2022, KINS Capital LLC issued an unsecured promissory note to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of $400,000. The Promissory Note was non-interest bearing and payable on the earlier of (i) closing of the Merger as described in the BCA or (ii) June 15, 2023. As December 31, 2022, $347,961 was outstanding under the Promissory Note. Working Capital Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of the notes may be converted upon completion of a Business Combination into warrants at a price of $1.00 per warrant. Such warrants would be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of December 31, 2022 and 2021, there were no amounts outstanding under the Working Capital Loans.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 7 — COMMITMENTS AND CONTINGENCIES Risks and Uncertainties Various social and political circumstances in the United States and around the world (including wars and other forms of conflict, including rising trade tensions between the United States and China, and other uncertainties regarding actual and potential shifts in the United States and foreign, trade, economic and other policies with other countries, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics), may also contribute to increased market volatility and economic uncertainties or deterioration in the United States and worldwide. Specifically, the rising conflict between Russia and Ukraine, and resulting market volatility could adversely affect the Company's ability to complete a Business Combination. In response to the conflict between Russia and Ukraine, the United States and other countries have imposed sanctions or other restrictive actions against Russia. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, could have a material adverse effect on the Company's ability to complete a Business Combination and the value of the Company's securities. Management continues to evaluate the impact of these types of risks and has concluded that while it is reasonably possible that these risks and uncertainties could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Inflation Reduction Act of 2022 On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination. Registration Rights Pursuant to a registration rights agreement entered into on December 14, 2020, the holders of the Founder Shares, Private Placement Warrants and securities that may be issued upon conversion of Working Capital Loans will be entitled to registration rights pursuant to a registration rights agreement. The holders of at least 30% in interest of these securities will be entitled to make up to three demands, excluding short form registration demands, that we register such securities for sale under the Securities Act. In addition, these holders will have certain “piggy-back” registration rights to include their securities in other registration statements filed subsequent to the completion of a Business Combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriters were entitled to a deferred fee of $0.35 per Unit, or up to $9,660,000 in the aggregate. The deferred fee was to become payable to the underwriters from the amounts held in the Trust Account in the event that the Company completed a Business Combination, subject to the terms of the underwriting agreement. On June 9, 2022, one of the underwriters waived its entitlement to the payment of any deferred fee to be paid under the terms of the underwriting agreement and is no longer serving in an advisor capacity. As a result, the Company recognized $9,660,000 of income in relation to the reduction of the deferred underwriter fee in the accompanying consolidated financial statements. Merger Agreement On September 25, 2022, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Inpixon, a Nevada corporation (“Inpixon”), CXApp Holding Corp., a Delaware corporation and wholly-owned subsidiary of Inpixon (“CXApp” and, together with Inpixon, collectively, the “Companies”), and Merger Sub, pursuant to which the Company will combine with CXApp, Inpixon’s enterprise apps business (including its workplace experience technologies, indoor mapping, events platform, augmented reality and related business solutions) (the “Enterprise Apps Business”). Also on September 25, 2022, and in connection with the execution of the Merger Agreement, the Company, Inpixon, CXApp and the Sponsor entered into that certain sponsor support agreement (the “Sponsor Support Agreement”). Immediately prior to the Merger (as defined below) and pursuant to a Separation and Distribution Agreement, dated as of September 25, 2022, among the Company, Inpixon, CXApp and Design Reactor, Inc., a California corporation (“Design Reactor”) (the “Separation Agreement”), and other ancillary conveyance documents, Inpixon will, among other things and on the terms and subject to the conditions of the Separation Agreement, transfer the Enterprise Apps Business, including certain related subsidiaries of Inpixon, including Design Reactor, to CXApp (the “Reorganization”) and, in connection therewith, will distribute (the “Distribution”) to Inpixon stockholders and other security holders 100% of the common stock of CXApp, par value $0.00001 (the “CXApp Common Stock”), as further described below. Immediately following the Distribution, in accordance with and subject to the terms and conditions of the Merger Agreement, Merger Sub will merge with and into CXApp (the “Merger”), with CXApp continuing as the surviving company in the Merger and as a wholly-owned subsidiary of the Company. The Merger Agreement, along with the Separation Agreement and the other transaction documents to be entered into in connection therewith, provides for, among other things, the consummation of the following transactions (collectively, the “Business Combination”): (i) Inpixon will transfer the Enterprise Apps Business (the “Separation”) to its wholly-owned subsidiary, CXApp, and contribute $10 million in capital thereto (the “Cash Contribution”), (ii) following the Separation, Inpixon will distribute 100% of the shares of CXApp Common Stock to Inpixon stockholders and other security holders by way of the distribution and (iii) following the completion of the foregoing transactions and subject to the satisfaction or waiver of certain other conditions set forth in the Merger Agreement, the parties shall consummate the Merger. The Separation, Distribution and Merger are intended to qualify as “tax-free” transactions. Upon consummation of the Business Combination, the Company will have two classes of common stock: Class A common stock, par value $0.0001 per share (the “Company’s Class A Common Stock”), and Class C common stock, par value $0.0001 per share (the “Company’s Class C Common Stock” and together with the Company’s Class A Common Stock, the “Company’s Common Stock”). The Company’s Class A Common Stock and the Company’s Class C Common Stock will be identical in all respects, except that the Company’s Class C Common Stock will be subject to transfer restrictions and will automatically convert into Company’s Class A Common Stock on the earlier to occur of (i) the 180th day following the closing of the Merger and (ii) the day that the last reported sale price of the Company’s Class A Common Stock equals or exceeds $12.00 per share for any 20 trading days within any 30-trading day period following the closing of the Merger. The Company’s Class A Common Stock will be listed on the Nasdaq Capital Market (“Nasdaq”) and are expected to be trading under a new ticker symbol. The outstanding warrants of the Company will be listed on Nasdaq and are expected to be trading under a new ticker symbol. Consideration Paid At the time the Business Combination is effected (the “Closing”), the outstanding shares of CXApp Common Stock after the Distribution and immediately prior to the effective time of the Merger will be converted into an aggregate of 6.9 million shares of The Company’s Common Stock which shall be issued to Inpixon shareholders, subject to adjustment. Each holder’s aggregate merger consideration will consist of 10% Company’s Class A Common Stock and 90% Company’s Class C Common Stock (such percentages, in each case, subject to adjustment to comply with the listing requirements set forth under Nasdaq Listing Rule 5505(b)(2) with respect to KINS). Representations and Warranties & Covenants Pursuant to the Merger Agreement, the Company, CXApp and Inpixon each made representations and warranties customary for transactions of this type regarding themselves and their respective businesses. The representations and warranties made pursuant to the Merger Agreement will not survive the Closing. In addition, the parties to the Merger Agreement agreed to be bound by certain covenants that are customary for transactions of this type. The covenants made under the Merger Agreement generally will not survive the Closing, with the exception of certain covenants and agreements that by their terms are to be performed in whole or in part after the Closing, which will survive in accordance with the terms of the Merger Agreement. Conditions to Closing The consummation of the Business Combination is subject to conditions customary for transactions involving special purpose acquisition companies, including, among others: (i) there is not in force any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by or with any governmental authority of competent jurisdiction, statute, rule or regulation enjoining or prohibiting the consummation of the Merger, (ii) the Company shall have at least $5,000,001 of net tangible assets as of the Closing, (iii) the Company’s Class A Common Stock issuable pursuant to the Business Combination shall have been approved for listing on Nasdaq, (iv) CXApp and the Company shall each have performed and complied in all material respects with the covenants required by the Merger Agreement to be performed by it as of or prior to Closing, (v) customary bring down conditions related to the accuracy of the CXApp’s and the Company’s respective representations and warranties in the Merger Agreement, (vi) the consummation of the Distribution, the Reorganization and other transactions contemplated by the Separation and Distribution Agreement, (vii) the Company’s registration statement to be filed with the Securities and Exchange Commission (“SEC”) shall have become effective (and no stop order suspending effectiveness have been issued and no proceedings for that purpose has been initiated or threatened by the SEC), (viii) each of the Company’s and CXApp’s stockholder approvals shall have been obtained and (ix) the sum of (A) the aggregate amount of cash available in KINS’s trust account following the Company’s stockholders’ meeting, after deducting the amount required to satisfy the Acquiror Share Redemption Amount (as defined in the Merger Agreement) (but prior to payment of any transaction expenses), (B) the aggregate gross purchase price of any other purchase of shares of the Company’s Common Stock (or securities convertible or exchangeable for the Company’s Common Stock) actually received by the Company prior to or substantially concurrently with the closing of the Merger, and (C) the aggregate gross purchase price of any other purchase of shares of CXApp Common Stock (or securities convertible or exchangeable for CXApp Common Stock) actually received by CXApp prior to or substantially concurrently with the closing of the Merger, shall be equal to or greater than $9.5 million. The Company’s obligation to consummate the Business Combination is also conditioned on there having been no event that has had, or would reasonably be expected to have, individually or in the aggregate, a “Material Adverse Effect” on CXApp. Termination The Merger Agreement may be terminated under certain customary and limited circumstances at any time prior to the Closing, including (i) by the mutual written consent of the Company and CXApp, (ii) by the Company or CXApp, if the Closing shall not have occurred on or before March 16, 2023, (iii) by the Company or CXApp, if there has been any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered by or with any governmental authority that would make the Merger illegal or otherwise prevent or prohibit the Merger, (iv) by the Company or CXApp, if KINS has not obtained the requisite approval from its stockholders, (v) by KINS or CXApp if the other party breaches certain representations, warranties, or covenants, as specified in the Merger Agreement, and that breach is unable to be cured, or is not cured, within 30 days, or by CXApp if there has been an uncured breach by Sponsor of certain of its obligations under the Sponsor Support Agreement or (vi) by the Company if CXApp has not obtained the requisite approval from its stockholders within one hour of the effective date of the Company’s registration statement, provided that CXApp or the Company pay a termination fee of $2.0 million to the other party if the Merger Agreement is terminated pursuant to (v) or (vi) above. Separation and Distribution Agreement On September 25, 2022, in connection with the execution of the Merger Agreement, the Company entered into the Separation Agreement with CXApp, Inpixon and Design Reactor, pursuant to which, among other things, (i) Inpixon will undertake a series of internal reorganization and restructuring transactions to effect the transfer of its (direct or indirect) ownership of the Enterprise Apps Business to CXApp in the Separation and (ii) immediately prior to the Merger and after the Separation, Inpixon will distribute 100% of the outstanding shares of CXApp Common Stock to Inpixon’s stockholders and certain other security holders in the Distribution. The Separation Agreement also sets forth other agreements among Inpixon and CXApp related to the Separation, including provisions concerning the termination and settlement of intercompany accounts and the obtaining of third-party consents. The Separation Agreement also sets forth agreements that will govern certain aspects of the relationship between Inpixon and CXApp after the Distribution, including provisions with respect to release of claims, indemnification, access to financial and other information and access to and provision of records. Consummation of the Distribution is subject to a number of conditions, including, among others, (i) the completion of the Reorganization and other related transactions, (ii) the execution of the ancillary agreements by the parties and (iii) the satisfaction or waiver of all conditions under the Merger Agreement (other than those conditions that are to be satisfied contemporaneously with the Distribution and/or the Merger, provided that such conditions are capable of being satisfied at such time). Sponsor Support Agreement On September 25, 2022, in connection with the execution of the Merger Agreement, the Company, Inpixon, CXApp and the Sponsor entered into the Sponsor Support Agreement, pursuant to which, among other things, the Sponsor agreed to vote any of the Company’s securities held by it to approve the Business Combination and the other of the Company’s stockholder matters required pursuant to the Merger Agreement, and not to seek redemption of any of the Company’s securities in connection with the consummation of the Business Combination. Pursuant to the Sponsor Support Agreement, the Sponsor and the Company also agreed to amend the letter agreement, dated as of December 14, 2020 between the Sponsor and the Company (the “Insider Letter”) to amend the Founder Shares Lock-Up Period (as defined in the Insider Letter) to provide for lock-up of its shares of the Company’s Class B common stock, par value $0.0001 per share (“Company’s Class B Common Stock”) (or Company’s Class A Common Shares issuable upon conversion thereof) until the earlier of (A) the 180th day after the closing of the Merger and (B) (x) the date on which the Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction following the closing of the Merger or (y) the day that the last reported sale price of the Company’s Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the Closing of the Merger; provided, that 22% of such shares (subject to adjustment) shall not be subject to foregoing lock-up. Additionally, Sponsor has agreed to exchange 6,150,000 shares of the Company’s Class B Common Stock, equal to such that the number of shares of the Company’s Common Stock issued as aggregate merger consideration exceeds (by one share): (i) the aggregate number of shares of the Company’s Class A Common Stock held by Sponsor at Closing (after taking into the exchange), plus (ii) the aggregate number of shares of the Company’s Class B Common Stock held by certain funds and accounts managed by BlackRock, Inc. (including all Potential Forfeiture Shares (as defined in the Sponsor Support Agreement)), plus (iii) the aggregate number of shares of the Company’s Class A Common Stock that have not properly elected to redeem their shares of the Company’s Class A Common Stock pursuant to the Company’s governing documents, plus (iii) any shares of the Company’s Common Stock issued as incentives for non-redemption transactions and financing transactions, in each case, free and clear of all liens; provided, that, in no instance shall the number of shares issued to Sponsor in the exchange be less than 5,150,000 shares of the Company’s Class A Common Stock.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	12 Months Ended
	Dec. 31, 2022
STOCKHOLDERS' DEFICIT
STOCKHOLDERS' DEFICIT	NOTE 8 — STOCKHOLDERS’ DEFICIT Preferred Stock — Class A Common Stock — issued outstanding Class B Common Stock — Only holders of the Class B common stock will have the right to vote on the election of directors prior to the Business Combination. Holders of Class A common stock and holders of Class B common stock will vote together as a single class on all matters submitted to a vote of our stockholders except as otherwise required by law. The shares of Class B common stock will automatically convert into Class A common stock at the time of a Business Combination, or earlier at the option of the holder (except for any Founder Shares held by the Direct Anchor Investors who have agreed not to effect a conversion with respect to such Founder Shares until the consummation of the initial Business Combination), on a one-for-one basis, subject to adjustment. In the case that additional shares of Class A common stock, or equity-linked securities, are issued or deemed issued in excess of the amounts issued in the Initial Public Offering and related to the closing of a Business Combination (including pursuant to a specified future issuance), the ratio at which shares of Class B common stock shall convert into shares of Class A common stock will be adjusted (unless the holders of a majority of the then-outstanding shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed issuance, including pursuant to a specified future issuance) so that the number of shares of Class A common stock issuable upon conversion of all shares of Class B common stock will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common stock outstanding upon the completion of Initial Public Offering plus all shares of Class A common stock and equity-linked securities issued or deemed issued in connection with a Business Combination (excluding any shares or equity-linked securities issued or issuable to any seller in a Business Combination).

DERIVATIVE WARRANT LIABILITIES

DERIVATIVE WARRANT LIABILITIES	12 Months Ended
	Dec. 31, 2022
DERIVATIVE WARRANT LIABILITIES
DERIVATIVE WARRANT LIABILITIES	NOTE 9 — DERIVATIVE WARRANT LIABILITIES As of December 31, 2022 and 2021 there were 13,800,000 Public Warrants outstanding and 10,280,000 Private Placement Warrants Outstanding. Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act covering the issuance of the shares of Class A common stock underlying the warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration. No warrant will be exercisable, and the Company will not be obligated to issue shares of Class A common stock upon exercise of a warrant unless Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, the Company will use its commercially reasonable efforts to file, and within 60 business days following a Business Combination to have declared effective, a registration statement under the Securities Act covering the issuance of the shares of Class A common stock issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to maintain the effectiveness of such registration statement and a current prospectus relating to those shares of Class A common stock until the warrants expire or are redeemed. Notwithstanding the above, if the Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but we will be required to use our commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Redemptions of warrants when the price of Class A common stock equals or exceeds $18.00 ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon not less than 30 days ’ prior written notice of redemption, or the 30 -day redemption period, to each warrant holder; and ● if, and only if, the reported last sale price of the Company’s Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations, and the like) for any 20 trading days within a 30 - trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00 – ● in whole and not in part; ● at a price of $0.10 per warrant provided that holders will be able to exercise their warrants prior to redemption and receive that number of shares of Class A common stock determined based on the redemption date and the “fair market value” of the Company’s Class A common stock; ● upon not less than 30 days ’ prior written notice of redemption, or the 30 -day redemption period; ● if, and only if, the last reported sale price of the Company’s Class A common stock equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) on the trading day prior to the date on which the Company sends the notice of redemption to the warrant holders; ● if, and only if, there is an effective registration statement covering the issuance of the shares of Class A common stock issuable upon exercise of the warrants and a current prospectus relating thereto is available throughout the 30 -day period after the written notice of redemption is given. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors, and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or its affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the completion of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A common stock during the 20 trading day period starting on the trading day after the day on which the Company completes a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price will be adjusted will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. As of December 31, 2022 and 2021 there were 10,280,000 Private Placement Warrants outstanding. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the shares of Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

INCOME TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2022
INCOME TAX
INCOME TAX	NOTE 10 — INCOME TAX ​ The Company’s net deferred tax assets are as follows as of December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Deferred tax asset ​ ​ Organizational costs/startup expenses ​ $ 924,537 ​ $ 322,963 Net operating loss carryforward ​ — ​ 28,689 Total deferred tax asset ​ 924,537 ​ 351,652 Valuation allowance ​ (924,537) ​ (351,652) Deferred tax asset, net of allowance ​ $ — ​ $ — ​ The income tax provision consists of the following for the years ended December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Federal ​ ​ Current ​ $ 49,175 ​ $ — Deferred ​ (572,885) ​ (300,205) ​ ​ ​ ​ ​ ​ ​ State and Local ​ ​ Current ​ — ​ — Deferred ​ — ​ — Change in valuation allowance ​ 572,885 ​ 300,205 Income tax provision ​ $ 49,175 ​ $ — ​ ​ As of December 31, 2022 and 2021, the Company had U.S. federal net operating loss carryover of approximately $0 and $137,000 available to offset future taxable income indefinitely, respectively. In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the year ended December 31, 2022 and 2021, the change in the valuation allowance was $572,885 and $300,205, respectively. A reconciliation of the federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2022 2021 ​ Statutory federal income tax rate 21.0 % 21.0 % State taxes, net of federal tax benefit 0.0 % 0.0 % Transaction costs allocated to derivative warrant liabilities 0.0 % 0.0 % Change in fair value of derivative warrant liabilities (23.9) % (24.3) % Valuation allowance 3.2 % 3.3 % Income tax provision 0.3 % 0.0 % ​ The Company files income tax returns in the U.S. federal jurisdiction in various state and local jurisdictions and is subject to examination by the various taxing authorities.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 11 — FAIR VALUE MEASUREMENTS 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 our assessment of the assumptions that market participants would use in pricing the asset or liability. The Company classifies its U.S. Treasury and equivalent securities as held-to-maturity in accordance with ASC Topic 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying consolidated balance sheets and adjusted for the amortization or accretion of premiums or discounts. On December 31 2022, assets held in the Trust Account consisted of $3,923,804 held in an interest-bearing commercial checking account. Cash held in commercial checking accounts is reported on the balance sheet at its approximate fair value. During the year ended December 31, 2022, the Company withdrew $231,500 of interest income from the Trust Account for taxes and $275,102,280 was withdrawn from the Trust Account in connection with the redemption of Class A common stock. At December 31, 2021, assets held in the Trust Account were comprised of $898 in cash and $278,835,182 in money market funds, respectively. Through December 31, 2021, the Company did not withdraw any interest income from the Trust Account. 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, 2022 and 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Description Level Fair Value Level Fair Value Assets: ​ ​ ​ ​ ​ Money Market Funds 1 ​ ​ — ​ 1 ​ $ 278,835,182 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrant liabilities – public warrants 1 $ 414,000 ​ 1 ​ $ 6,461,798 Warrant liabilities – private placement warrants ​ 2 ​ $ 308,400 ​ 2 ​ $ 4,813,571 ​ The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the accompanying December 31, 2022 and 2021 consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the consolidated statements of operations. The Warrants are measured at fair value on a recurring basis. The Public Warrants were initially valued using a lattice model, specifically a binomial lattice model incorporating the binomial lattice methodology. As of December 31, 2022, the Public Warrants were valued using the instrument’s publicly listed trading price as of the balance sheet date, which is considered to be a Level 1 measurement due to the use of an observable market quote in an active market. The Private Placement Warrants were initially valued using a lattice model, specifically a binomial lattice model incorporating the binomial lattice methodology, which is considered to be a Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the Private Placement Warrants is the expected volatility of our common stock. The expected volatility as of the Initial Public Offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The subsequent measurements of the Private Placement Warrants after the detachment of the Public Warrants from the Units is classified as Level 2 due to the use of an observable market quote for a similar asset in an active market, as the transfer of Private Placement Warrants to anyone outside of a small group of individuals who are permitted transferees would result in the Private Placement Warrants having substantially the same terms as the Public Warrants. The following table presents the changes in the fair value of Level 3 warrant liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Private Placement Public Warrant Liabilities Fair value as of December 31, 2020 ​ $ 9,354,800 ​ $ 12,558,000 ​ $ 21,912,800 Change in fair value ​ (2,672,800) ​ (3,588,000) ​ (6,260,800) Transfer to Level 1 ​ ​ — ​ ​ (8,970,000) ​ ​ (8,970,000) Transfer to Level 2 ​ ​ (6,682,000) ​ ​ — ​ ​ (6,682,000) Fair value as of December 31, 2021 ​ $ — ​ $ — ​ $ — ​ 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. The estimated fair value of the Public Warrants transferred from a Level 3 measurement to a Level 1 fair value measurement during the period ended December 31, 2021 was approximately $9.0 million, when the Public Warrants were separately listed and traded and the estimated fair value of the Private Warrants of approximately $6.7 million was transferred from a Level 3 to a Level 2 fair value measurement. There were no transfers during the year ended December 31, 2022.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 — SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, other than as noted below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements. ​ On January 9, 2023, the Company received a notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company failed to hold an annual meeting of stockholders within 12 months after its fiscal year ended December 31, 2021, as required by Nasdaq Listing Rule 5620(a). In accordance with Nasdaq Listing Rule 5810(c)(2)(G), the Company had 45 calendar days (or until February 23, 2023) to submit a plan to regain compliance and, if Nasdaq accepts the plan, Nasdaq may grant the Company up to 180 calendar days from its fiscal year end, or until June 29, 2023, to regain compliance. The Company submitted a compliance plan within the specified period. While the plan is pending, the Company’s securities will continue to trade on Nasdaq. ​ On January 21, 2023, the Company received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with Listing Rule 5550(a)(4), due to the Company’s failure to meet the minimum 500,000 publicly held shares requirement for continued listing on the Nasdaq Capital Market. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Notice stated that the Company had until March 9, 2023 to submit a plan to regain compliance with Listing Rule 5550(a)(4). The Company believes that the issue identified in the Notice will be resolved upon completion of the previously announced proposed business combination with CXApp Holding Corp. The Company submitted a compliance plan within the specified period. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with Listing Rule 5550(a)(4). If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”). As described in Note 2—Restatement of Previously Issued Financial Statements, the Company’s financial statements for the year ended December 31, 2022 (collectively, the “Affected Period”), are restated in this Annual Report on Form 10-K/A (Amendment No. 1) (this “Annual Report”) to correct the misapplication of accounting guidance related to the liability extinguishment in the Company’s previously issued audited financial statements for such period. The restated financial statements are indicated as “Restated” in the audited financial statements and accompanying notes, as applicable. See Note 2—Restatement of Previously Issued Financial Statements for further discussion.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the warrant liabilities. Accordingly, the actual results could differ significantly from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of six months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2022 and 2021.
Concentration of Credit Risk	Concentration of Credit Risk The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.
Class A Common Stock Subject to Possible Redemption	Class A Common Stock Subject to Possible Redemption The Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Shares of Class A common stock subject to mandatory redemption are classified as liability instruments and are measured at fair value. Conditionally redeemable common stock (including common stock that features redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, as of December 31, 2022 and 2021, 387,551 and 27,600,000 shares of Class A common stock subject to possible redemption are presented as temporary equity, outside of the stockholders’ deficit section of the Company’s consolidated balance sheets, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges against additional paid in capital (to the extent available) and accumulated deficit. At December 31, 2022 and 2021, the Class A common stock reflected in the consolidated balance sheets are reconciled in the following table: ​ ​ ​ ​ ​ Class A common stock subject to possible redemption, January 1, 2021 $ 278,760,000 Plus: ​ Accretion of carrying value to redemption value ​ ​ — Class A common stock subject to possible redemption, December 31, 2021 ​ ​ 278,760,000 Plus: ​ ​ ​ Waiver of Class A common stock issuance costs ​ ​ 9,288,090 Less: ​ ​ ​ Accretion of carrying value to redemption value ​ ​ (9,031,545) Redemption of Class A Common Stock ​ ​ (275,102,280) Class A common stock subject to redemption, December 31, 2022 ​ $ 3,914,265 ​
Offering Costs	Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to warrant liabilities were expensed as incurred in the consolidated statements of operations. Offering costs associated with the Class A common stock issued were initially charged to temporary equity. Offering costs incurred amounted to $15,688,848, consisting of $5,520,000 in cash underwriting fees, $9,660,000 of deferred underwriting fees and $508,848 of other offering costs, of which $15,239,420 was charged to temporary equity and $449,428 was allocated to the warrant liability and expensed through the consolidated statements of operations.
Derivative Warrant Liabilities	Derivative Warrant Liabilities The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statements of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a binomial lattice model. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value of the Warrants (as defined below) as of each relevant date.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” ASC 740, Income Taxes, requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740-270-25-2 requires that an annual effective tax rate be determined and such annual effective rate applied to year to date income in interim periods under ASC 740-270-30-5. As of December 31, 2022 and December 31, 2021, the Company’s deferred tax asset had a full valuation allowance recorded against it. The Company’s effective tax rate was 0.3% and 0.0%, respectively. The effective tax rate differs from the statutory tax rate of 21% for the years ended December 31, 2022 and 2021, due to changes in fair value in warrant liability and the valuation allowance on the deferred tax assets. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2022 and December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has identified the United States as its only “major” tax jurisdiction. The Company is subject to income taxation by major taxing authorities since inception. These examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with federal and state tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
Net Income per Common Share	Net Income per Common Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. The Company applies the two-class method in calculating earnings per share. Accretion associated with the redeemable shares of Class A common stock is excluded from earnings per share as the redemption value approximates fair value. The calculation of diluted income per share does not consider the effect of the Warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the Warrants is contingent upon the occurrence of future events. The Warrants are exercisable to purchase 24,080,000 shares of Class A common stock in the aggregate. As of December 31, 2022 and 2021, the Company did not have any other dilutive securities or other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted net income per common share is the same as basic net income per common share for the periods presented. The following table reflects the calculation of basic and diluted net income per common share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ ​ 2022 ​ 2021 ​ Class A Class B Class A Class B Basic and diluted net income per common stock ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income, as adjusted ​ $ 5,385,193 ​ $ 2,961,627 ​ $ 7,366,307 ​ $ 1,841,577 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ ​ 12,546,423 ​ ​ 6,900,000 ​ ​ 27,600,000 ​ ​ 6,900,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per common stock ​ $ 0.43 ​ $ 0.43 ​ $ 0.27 ​ $ 0.27 ​
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-term nature, except the derivative warrant liabilities (see Note 10).
Recent Accounting Standards	Recent Accounting Standards In August 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company adopted ASU 2020-06 as of January 1, 2021 and the adoption did not have an impact on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

RESTATEMENT OF PREVIOUSLY ISS_2

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
Summary of impact of the restatement on the financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Three Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 10,396,046 ​ (9,288,090) ​ 1,107,956 Income (loss) before benefit from (provision for) income taxes ​ 10,094,313 ​ (9,288,090) ​ 806,223 Net Income ​ 10,071,447 ​ (9,288,090) ​ 783,357 Basic and diluted weighted average shares outstanding - Class A common stock ​ 14,481,736 ​ — ​ 14,481,736 Basic and diluted earnings per share - Class A common stock ​ $ 0.47 ​ $ (0.43) ​ $ 0.04 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.47 ​ $ (0.43) ​ $ 0.04 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Six Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 18,587,467 ​ (9,288,090) ​ 9,299,377 Income (loss) before benefit from (provision for) income taxes ​ 17,962,482 ​ (9,288,090) ​ 8,674,392 Net Income ​ 17,939,616 ​ (9,288,090) ​ 8,651,526 Basic and diluted weighted average shares outstanding - Class A common stock ​ 21,004,630 ​ — ​ 21,004,630 Basic and diluted earnings per share - Class A common stock ​ $ 0.64 ​ $ (0.33) ​ $ 0.31 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.64 ​ $ (0.33) ​ $ 0.31 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment As Restated Unaudited Statement of Operations for the Nine Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 20,560,364 ​ (9,288,090) ​ 11,272,274 Income (loss) before benefit from (provision for) income taxes ​ 18,838,653 ​ (9,288,090) ​ 9,550,563 Net Income ​ 18,811,924 ​ (9,288,090) ​ 9,523,834 Basic and diluted weighted average shares outstanding – Class A common stock ​ 16,466,455 ​ — ​ 16,466,455 Basic and diluted earnings per share – Class A common stock ​ $ 0.81 ​ $ (0.40) ​ $ 0.41 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.81 ​ $ (0.40) ​ $ 0.41 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment ​ As Restated Statement of Operations for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain on forgiveness of deferred underwriting fee payable ​ ​ 9,660,000 ​ ​ (9,288,090) ​ ​ 371,910 Total other income (expenses) ​ 20,634,549 ​ (9,288,090) ​ 11,346,459 Income (loss) before benefit from (provision for) income taxes ​ 17,684,085 ​ (9,288,090) ​ 8,395,995 Net Income ​ 17,634,910 ​ (9,288,090) ​ 8,346,820 Basic and diluted weighted average shares outstanding - Class A common stock ​ 12,546,423 ​ — ​ 12,546,423 Basic and diluted earnings per share - Class A common stock ​ $ 0.91 ​ $ (0.48) ​ $ 0.43 Basic and diluted weighted average shares outstanding - Class B common stock ​ 6,900,000 ​ — ​ 6,900,000 Basic and diluted earnings per share - Class B common stock ​ $ 0.91 ​ $ (0.48) ​ $ 0.43 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Deficit ​ ​ As Previously ​ ​ ​ ​ ​ ​ ​ Reported Adjustment As Restated Unaudited Statement of Changes in Stockholders’ Deficit for the Three Months Ended June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance – March 31, 2022 ​ $ (13,226,270) ​ $ — ​ $ (13,225,580) Net income ​ ​ 10,071,447 ​ (9,288,090) ​ 783,357 Accretion of Class A common stock to redemption value ​ ​ (242,995) ​ ​ 9,288,090 ​ ​ 9,045,095 Balance – June 30, 2022 $ (3,397,818) ​ $ — ​ $ (3,397,128) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated Deficit ​ ​ As Previously ​ ​ ​ ​ ​ ​ ​ Reported Adjustment As Restated Statement of Changes in Stockholders’ Deficit for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Balance – December 31, 2021 ​ $ (21,094,439) ​ $ — ​ $ (21,094,439) Net income ​ ​ 17,634,910 ​ ​ (9,288,090) ​ ​ 8,346,820 Accretion of Class A common stock to redemption value ​ ​ (256,545) ​ ​ 9,288,090 ​ ​ 9,031,545 Balance – December 31, 2022 $ (3,716,074) $ — $ (3,716,074) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ Reported ​ Adjustment ​ As Restated Unaudited Statement of Cash Flows for the Six Months Ended June 30, 2022 ​ ​ ​ Net Income ​ 17,939,616 ​ (9,288,090) ​ 8,651,526 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ Reported ​ Adjustment ​ As Restated Unaudited Statement of Cash Flows for the Nine Months Ended September 30, 2022 ​ ​ ​ Net Income ​ 18,811,924 ​ (9,288,090) ​ 9,523,834 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090) ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously Restatement ​ ​ ​ ​ Reported ​ Adjustment As Restated Statement of Cash Flows for the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Net Income ​ 17,634,910 ​ (9,288,090) ​ 8,346,820 Gain on forgiveness of deferred underwriting fee payable (9,660,000) 9,288,090 (371,910) Non-Cash Investing and Financing Activities Extinguishment of deferred underwriting fee payable allocated to public shares — (9,288,090) (9,288,090)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Schedule of reconciliation of Class A common stock reflected in the condensed balance sheet	​ ​ ​ ​ ​ Class A common stock subject to possible redemption, January 1, 2021 $ 278,760,000 Plus: ​ Accretion of carrying value to redemption value ​ ​ — Class A common stock subject to possible redemption, December 31, 2021 ​ ​ 278,760,000 Plus: ​ ​ ​ Waiver of Class A common stock issuance costs ​ ​ 9,288,090 Less: ​ ​ ​ Accretion of carrying value to redemption value ​ ​ (9,031,545) Redemption of Class A Common Stock ​ ​ (275,102,280) Class A common stock subject to redemption, December 31, 2022 ​ $ 3,914,265 ​
Schedule of Reconciliation of net income per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended ​ ​ December 31, ​ ​ 2022 ​ 2021 ​ Class A Class B Class A Class B Basic and diluted net income per common stock ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income, as adjusted ​ $ 5,385,193 ​ $ 2,961,627 ​ $ 7,366,307 ​ $ 1,841,577 Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ ​ 12,546,423 ​ ​ 6,900,000 ​ ​ 27,600,000 ​ ​ 6,900,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per common stock ​ $ 0.43 ​ $ 0.43 ​ $ 0.27 ​ $ 0.27 ​

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2022
INCOME TAX
Schedule of Company's net deferred tax assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Deferred tax asset ​ ​ Organizational costs/startup expenses ​ $ 924,537 ​ $ 322,963 Net operating loss carryforward ​ — ​ 28,689 Total deferred tax asset ​ 924,537 ​ 351,652 Valuation allowance ​ (924,537) ​ (351,652) Deferred tax asset, net of allowance ​ $ — ​ $ —
Schedule of income tax provision	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Federal ​ ​ Current ​ $ 49,175 ​ $ — Deferred ​ (572,885) ​ (300,205) ​ ​ ​ ​ ​ ​ ​ State and Local ​ ​ Current ​ — ​ — Deferred ​ — ​ — Change in valuation allowance ​ 572,885 ​ 300,205 Income tax provision ​ $ 49,175 ​ $ — ​
Schedule of reconciliation of the federal income tax rate to the Company's effective tax rate	​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2022 2021 ​ Statutory federal income tax rate 21.0 % 21.0 % State taxes, net of federal tax benefit 0.0 % 0.0 % Transaction costs allocated to derivative warrant liabilities 0.0 % 0.0 % Change in fair value of derivative warrant liabilities (23.9) % (24.3) % Valuation allowance 3.2 % 3.3 % Income tax provision 0.3 % 0.0 % ​

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
FAIR VALUE MEASUREMENTS
Schedule of company's assets and liabilities that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2022 ​ 2021 Description Level Fair Value Level Fair Value Assets: ​ ​ ​ ​ ​ Money Market Funds 1 ​ ​ — ​ 1 ​ $ 278,835,182 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Warrant liabilities – public warrants 1 $ 414,000 ​ 1 ​ $ 6,461,798 Warrant liabilities – private placement warrants ​ 2 ​ $ 308,400 ​ 2 ​ $ 4,813,571 ​
Schedule of change in the fair value of the Level 3 warrant liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Private Placement Public Warrant Liabilities Fair value as of December 31, 2020 ​ $ 9,354,800 ​ $ 12,558,000 ​ $ 21,912,800 Change in fair value ​ (2,672,800) ​ (3,588,000) ​ (6,260,800) Transfer to Level 1 ​ ​ — ​ ​ (8,970,000) ​ ​ (8,970,000) Transfer to Level 2 ​ ​ (6,682,000) ​ ​ — ​ ​ (6,682,000) Fair value as of December 31, 2021 ​ $ — ​ $ — ​ $ — ​

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details)			12 Months Ended
	Dec. 17, 2020 USD ($) $ / shares shares	Jul. 20, 2020 item	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2023 USD ($)	Dec. 09, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Condition for future business combination number of businesses minimum | item		1
Proceeds from issuance of warrants	$ 10,280,000
Transaction Costs	15,688,848
Underwriting fees	5,520,000
Deferred underwriting fee payable	9,660,000					$ 9,660,000
Other offering costs	$ 508,848
Threshold minimum aggregate fair market value as a percentage of the assets held in the trust account			80%
Threshold percentage of outstanding voting securities of the target to be acquired by post-transaction company to complete business combination			50%
Minimum net tangible assets upon consummation of the business combination			$ 5,000,001
Threshold percentage of public shares subject to redemption without the company's prior written consent			20%
Obligation to redeem public shares if entity does not complete a business combination (as a percent)			100%
Threshold business days for redemption of public shares			10 days
Maximum net interest to pay dissolution expenses			$ 100,000
Cash operating bank account			224,489
Working capital			3,002,523
Proceeds from related Party debt			347,961
Minimum net tangible assets upon consummation of the business combination			$ 5,000,001
Class A common stock subject to possible redemption
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Purchase price, per unit (in dollars per share) | $ / shares			$ 10.10			$ 10.10
Minimum net tangible assets upon consummation of the business combination				$ 5,000,001	$ 5,000,001
Common stock, par value | $ / shares					$ 0.0001
Minimum net tangible assets upon consummation of the business combination				$ 5,000,001	$ 5,000,001
IPO
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Number of units issued | shares	27,600,000
Purchase price, per unit (in dollars per share) | $ / shares	$ 10.10
Proceeds from issuance initial public offering	$ 276,000,000
Investment of cash into trust account	$ 278,760,000
Private Placement | Private Placement Warrants
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Number of warrants issued | shares	10,280,000
Price of warrant | $ / shares	$ 1
Proceeds from issuance of warrants	$ 10,280,000
Over-Allotment Option
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Number of units issued | shares	3,600,000
Purchase price, per unit (in dollars per share) | $ / shares	$ 10
Over-Allotment Option | Private Placement Warrants
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Price of warrant | $ / shares	$ 1
Sponsor
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Proceeds from related party			$ 25,000
Proceeds from related Party debt			$ 300,000

RESTATEMENT OF PREVIOUSLY ISS_3

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Unaudited Statement of Operations
Gain on forgiveness of deferred underwriting fee payable	$ 371,910	$ 371,910	$ 371,910	$ 371,910
Total other income (expenses)	1,107,956	9,299,377	11,272,274	11,346,459	$ 10,705,798
Income (loss) before benefit from (provision for) income taxes	806,223	8,674,392	9,550,563	8,395,995	9,207,884
Net Income	783,357	8,651,526	9,523,834	8,346,820	9,207,884
Unaudited Statement of Changes in Stockholders' Deficit
Balance at the beginning		(21,093,749)	(21,093,749)	(21,093,749)	(30,301,633)
Accretion of Class A common stock to redemption					(9,031,545)
Net income	783,357	8,651,526	9,523,834	8,346,820	9,207,884
Balance at the end				(3,715,384)	(21,093,749)
Unaudited Statement of Cash Flows
Net Income		8,651,526	9,523,834	8,346,820	9,207,884
Gain on forgiveness of deferred underwriting fee payable	(371,910)	(371,910)	(371,910)	(371,910)
Non-Cash Investing and Financing Activities
Extinguishment of deferred underwriting fee payable allocated to public shares		(9,288,090)	(9,288,090)	(9,288,090)
Accumulated Deficit
Unaudited Statement of Operations
Net Income	783,357			8,346,820	9,207,884
Unaudited Statement of Changes in Stockholders' Deficit
Balance at the beginning	(13,225,580)	(21,094,439)	$ (21,094,439)	(21,094,439)	(30,302,323)
Accretion of Class A common stock to redemption	9,045,095			9,031,545	(9,031,545)
Net income	783,357			8,346,820	9,207,884
Balance at the end	$ (3,397,128)	$ (3,397,128)		$ (3,716,074)	$ (21,094,439)
Common Class A [Member]
Unaudited Statement of Operations
Basic weighted average shares outstanding (in shares)	14,481,736	21,004,630	16,466,455	12,546,423	27,600,000
Diluted weighted average shares outstanding	14,481,736	21,004,630	16,466,455	12,546,423	27,600,000
Basic net income per share (in dollars per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Diluted net income per share (in dollars per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Common Class B [Member]
Unaudited Statement of Operations
Basic weighted average shares outstanding (in shares)	6,900,000	6,900,000	6,900,000	6,900,000	6,900,000
Diluted weighted average shares outstanding	6,900,000	6,900,000	6,900,000	6,900,000	6,900,000
Basic net income per share (in dollars per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Diluted net income per share (in dollars per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
As Previously Reported
Unaudited Statement of Operations
Gain on forgiveness of deferred underwriting fee payable	$ 9,660,000	$ 9,660,000	$ 9,660,000	$ 9,660,000
Total other income (expenses)	10,396,046	18,587,467	20,560,364	20,634,549
Income (loss) before benefit from (provision for) income taxes	10,094,313	17,962,482	18,838,653	17,684,085
Net Income	10,071,447	17,939,616	18,811,924	17,634,910
Unaudited Statement of Changes in Stockholders' Deficit
Net income	10,071,447	17,939,616	18,811,924	17,634,910
Unaudited Statement of Cash Flows
Net Income		17,939,616	18,811,924	17,634,910
Gain on forgiveness of deferred underwriting fee payable	(9,660,000)	(9,660,000)	(9,660,000)	(9,660,000)
As Previously Reported | Accumulated Deficit
Unaudited Statement of Operations
Net Income	10,071,447			17,634,910
Unaudited Statement of Changes in Stockholders' Deficit
Balance at the beginning	(13,226,270)	(21,094,439)	$ (21,094,439)	(21,094,439)
Accretion of Class A common stock to redemption	(242,995)			(256,545)
Net income	10,071,447			17,634,910
Balance at the end	$ (3,397,818)	$ (3,397,818)		$ (3,716,074)	$ (21,094,439)
As Previously Reported | Common Class A [Member]
Unaudited Statement of Operations
Basic weighted average shares outstanding (in shares)	14,481,736	21,004,630	16,466,455	12,546,423
Diluted weighted average shares outstanding	14,481,736	21,004,630		12,546,423
Basic net income per share (in dollars per share)	$ 0.47	$ 0.64	$ 0.81	$ 0.91
Diluted net income per share (in dollars per share)	$ 0.47	$ 0.64	$ 0.81	$ 0.91
As Previously Reported | Common Class B [Member]
Unaudited Statement of Operations
Basic weighted average shares outstanding (in shares)	6,900,000	6,900,000	6,900,000	6,900,000
Diluted weighted average shares outstanding	6,900,000	6,900,000	6,900,000	6,900,000
Basic net income per share (in dollars per share)	$ 0.47	$ 0.64	$ 0.81
Diluted net income per share (in dollars per share)	$ 0.47	$ 0.64	$ 0.81	$ 0.91
Restatement Adjustment
Unaudited Statement of Operations
Gain on forgiveness of deferred underwriting fee payable	$ (9,288,090)	$ 9,288,090	$ 9,288,090	$ 9,288,090
Total other income (expenses)	(9,288,090)	(9,288,090)	(9,288,090)	(9,288,090)
Income (loss) before benefit from (provision for) income taxes	(9,288,090)	(9,288,090)	(9,288,090)	(9,288,090)
Net Income	(9,288,090)	(9,288,090)	(9,288,090)	(9,288,090)
Unaudited Statement of Changes in Stockholders' Deficit
Net income	(9,288,090)	(9,288,090)	(9,288,090)	(9,288,090)
Unaudited Statement of Cash Flows
Net Income		(9,288,090)	(9,288,090)	(9,288,090)
Gain on forgiveness of deferred underwriting fee payable	9,288,090	(9,288,090)	(9,288,090)	(9,288,090)
Non-Cash Investing and Financing Activities
Extinguishment of deferred underwriting fee payable allocated to public shares		$ (9,288,090)	$ (9,288,090)	(9,288,090)
Restatement Adjustment | Accumulated Deficit
Unaudited Statement of Operations
Net Income	(9,288,090)			(9,288,090)
Unaudited Statement of Changes in Stockholders' Deficit
Accretion of Class A common stock to redemption	9,288,090			9,288,090
Net income	$ (9,288,090)			$ (9,288,090)
Restatement Adjustment | Common Class A [Member]
Unaudited Statement of Operations
Basic net income per share (in dollars per share)	$ (0.43)	$ (0.33)	$ (0.40)	$ (0.48)
Diluted net income per share (in dollars per share)	(0.43)	(0.33)	(0.40)	(0.48)
Restatement Adjustment | Common Class B [Member]
Unaudited Statement of Operations
Basic net income per share (in dollars per share)	(0.43)	(0.33)	(0.40)
Diluted net income per share (in dollars per share)	$ (0.43)	$ (0.33)	$ (0.40)	$ (0.48)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Class A Common Stock Subject to Possible Redemption (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class A common stock subject to possible redemption, at beginning of year	$ 278,760,000
Waiver of Class A common stock issuance costs	9,288,090
Accretion of carrying value to redemption value	(9,031,545)
Redemption of Class A Common Stock	(275,102,280)
Class A common stock subject to possible redemption, at end of year	3,914,265
Class A common stock subject to possible redemption
Class A common stock subject to possible redemption, at beginning of year	278,760,000
Class A common stock subject to possible redemption, at end of year	$ 3,914,265
Class A common stock subject to possible redemption, outstanding (in shares)	387,551	27,600,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)		12 Months Ended
	Dec. 17, 2020	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.
Transaction costs	$ 15,688,848
Underwriting fees	5,520,000
Deferred underwriting fee payable	9,660,000		$ 9,660,000
Other offering costs	508,848
Charged to temporary equity	15,239,420
Offering cost expense	$ 449,428
Deferred tax asset		$ 924,537	351,652
Valuation allowance		$ 924,537	$ 351,652
Effective tax rate (in percent)		0.30%	0%
Statutory tax rate		21%	21%
Unrecognized tax benefits		$ 0	$ 0
Unrecognized tax benefits accrued for interest and penalties		$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Income (Loss) per Common Share (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Class A Common Stock
Number of warrants to purchase shares issued				24,080,000
Numerator:
Allocation of net income, as adjusted				$ 5,385,193	$ 7,366,307
Denominator:
Basic weighted average shares outstanding (in shares)	14,481,736	21,004,630	16,466,455	12,546,423	27,600,000
Weighted average shares outstanding, diluted (in shares)	14,481,736	21,004,630	16,466,455	12,546,423	27,600,000
Basic net income per common stock (in dollar per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Diluted net income per common stock (in dollar per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Class B Common stock
Numerator:
Allocation of net income, as adjusted				$ 2,961,627	$ 1,841,577
Denominator:
Basic weighted average shares outstanding (in shares)	6,900,000	6,900,000	6,900,000	6,900,000	6,900,000
Weighted average shares outstanding, diluted (in shares)	6,900,000	6,900,000	6,900,000	6,900,000	6,900,000
Basic net income per common stock (in dollar per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27
Diluted net income per common stock (in dollar per share)	$ 0.04	$ 0.31	$ 0.41	$ 0.43	$ 0.27

PUBLIC OFFERING (Details)

PUBLIC OFFERING (Details)	Dec. 17, 2020 $ / shares shares
IPO
PUBLIC OFFERING
Number of units sold	27,600,000
Purchase price, per unit (in dollars per share) | $ / shares	$ 10.10
IPO | Class A Common Stock
PUBLIC OFFERING
Number of shares in a unit	1
Number of shares issuable per warrant	1
Exercise price of warrants | $ / shares	$ 11.50
IPO | Public Warrants
PUBLIC OFFERING
Number of warrants in a unit	0.5
Over-Allotment Option
PUBLIC OFFERING
Number of units sold	3,600,000
Purchase price, per unit (in dollars per share) | $ / shares	$ 10

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)	Dec. 17, 2020	Dec. 31, 2022
PRIVATE PLACEMENT
Aggregate purchase price	$ 10,280,000
Class A Common Stock
PRIVATE PLACEMENT
Number of warrants to purchase shares issued		24,080,000
Private Placement | Private Placement Warrants
PRIVATE PLACEMENT
Number of warrants to purchase shares issued	10,280,000
Price of warrants	$ 1
Aggregate purchase price	$ 10,280,000
Number of shares per warrant	1
Private Placement | Private Placement Warrants | Class A Common Stock
PRIVATE PLACEMENT
Exercise price of warrant	$ 11.50

RELATED PARTIES - Founder Share

RELATED PARTIES - Founder Shares (Details) - Founder Shares		1 Months Ended	12 Months Ended
	Jul. 27, 2020 USD ($) shares	Oct. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2020 shares
RELATED PARTIES
Aggregate purchase price | $		$ 2,717
Share price | $ / shares		$ 0.004
Aggregate number of shares owned				6,900,000
Percentage of issued and outstanding shares after the initial public offering collectively held by initial stockholders				20%
Sponsor
RELATED PARTIES
Shares subject to forfeiture		625,000
Aggregate number of shares owned				6,150,000
Restrictions on transfer period of time after business combination completion			1 year
Threshold trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination			20 days
Threshold consecutive trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination			30 days
Threshold period after the business combination in which the 20 trading days within any 30 trading day period commences			150 days
Sponsor | Class A Common Stock
RELATED PARTIES
Stock price trigger to transfer, assign or sell any shares or warrants of the company, after the completion of the initial business combination (in dollars per share) | $ / shares			$ 12
Sponsor | Class B Common stock
RELATED PARTIES
Aggregate purchase price | $	$ 25,000
Number of shares issued	5,750,000
Stock split				1.2
Direct Anchor
RELATED PARTIES
Number of shares issued		625,000
Aggregate number of shares owned				750,000
Over-Allotment Option
RELATED PARTIES
Shares subject to forfeiture			0
Over-Allotment Option | Sponsor
RELATED PARTIES
Shares subject to forfeiture		900,000

RELATED PARTIES - Additional In

RELATED PARTIES - Additional Information (Details) - USD ($)		12 Months Ended
	Dec. 14, 2020	Dec. 31, 2022	Dec. 31, 2021	Aug. 10, 2022
RELATED PARTIES
Expenses incurred and paid		$ 240,000	$ 240,000
Promissory Note With Related Party
RELATED PARTIES
Aggregate principal amount				$ 400,000
Amount outstanding under promissory note		347,961
Working Capital Loans
RELATED PARTIES
Loan conversion agreement warrant		$ 1,500,000
Price of warrant		$ 1
Working Capital Loans | Working capital loans warrant
RELATED PARTIES
Maximum borrowing capacity of related party promissory note		$ 0	$ 0
Sponsor | Administrative Services Agreement
RELATED PARTIES
Expenses per month	$ 20,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 25, 2022 USD ($) D $ / shares shares	Jun. 09, 2022 USD ($)	Dec. 14, 2020 D item $ / shares shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares
COMMITMENTS AND CONTINGENCIES
Minimum percentage of founder share holders entitled to make demands			30%
Maximum number of demands for registration of securities | item			3
Deferred fee per unit				$ 0.35
Common stock, par value (in dollars per share)	$ 0.00001
Stock price trigger			$ 12
Income recognized from reduction of deferred underwriter fee | $		$ 9,660,000
Class A Common Stock
COMMITMENTS AND CONTINGENCIES
Common stock, par value (in dollars per share)	0.0001			0.0001	$ 0.0001
Class B Common stock
COMMITMENTS AND CONTINGENCIES
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001	$ 0.0001
Class C common stock
COMMITMENTS AND CONTINGENCIES
Common stock, par value (in dollars per share)	$ 0.0001
Merger Agreement
COMMITMENTS AND CONTINGENCIES
Percentage of common stock distributed	100%
Maximum term for automatic conversion of stock following the closing of the Merger	180 days
Stock price trigger	$ 12
Threshold trading days | D	20		20
Threshold consecutive trading days | D	30		30
Threshold net tangible assets | $	$ 5,000,001
Threshold aggregate gross purchase price of any other purchase of shares | $	$ 9,500,000
Lock-up period			180 days
Merger Agreement | CXApp
COMMITMENTS AND CONTINGENCIES
Number of shares issuable upon merger | shares	6,900,000
Term of breach unable to be cured, or is not cured	30 days
Termination fee | $	$ 2,000,000
Percentage of shares not be subject to foregoing lock-up			22%
Merger Agreement | CXApp | Class A Common Stock
COMMITMENTS AND CONTINGENCIES
Percentage of stock as merger consideration	10%
Merger Agreement | CXApp | Class C common stock
COMMITMENTS AND CONTINGENCIES
Percentage of stock as merger consideration	90%
Separation Agreement | Inpixon | CXApp
COMMITMENTS AND CONTINGENCIES
Cash Contribution upon seperation | $	$ 10,000,000
Sponsor Support Agreement | Class A Common Stock
COMMITMENTS AND CONTINGENCIES
Minimum number of shares issuable to sponsor | shares			5,150,000
Sponsor Support Agreement | Class B Common stock
COMMITMENTS AND CONTINGENCIES
Number of shares exchanged | shares			6,150,000

STOCKHOLDERS' DEFICIT - Preferr

STOCKHOLDERS' DEFICIT - Preferred Stock Shares (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
STOCKHOLDERS' DEFICIT
Preferred shares, shares authorized	2,000,000	2,000,000
Preferred stock, par value, (per share)	$ 0.0001	$ 0.0001
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0

STOCKHOLDERS' DEFICIT - Common

STOCKHOLDERS' DEFICIT - Common Stock Shares (Details)	12 Months Ended
	Dec. 31, 2022 Vote $ / shares shares	Sep. 25, 2022 $ / shares	Dec. 31, 2021 $ / shares shares	Dec. 14, 2020 $ / shares
Class of Stock [Line Items]
Common shares, par value (in dollars per share) | $ / shares		$ 0.00001
Ratio to be applied to the stock in the conversion	20%
Class A Common Stock
Class of Stock [Line Items]
Common shares, shares authorized (in shares)	100,000,000		100,000,000
Common shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Common shares, votes per share | Vote	1
Class A Common Stock Subject to Redemption
Class of Stock [Line Items]
Common shares, shares authorized (in shares)	20,000,000		20,000,000
Common shares, par value (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001
Common shares, votes per share | Vote	1
Common shares, shares issued (in shares)	6,900,000		6,900,000
Common shares, shares outstanding (in shares)	6,900,000		6,900,000
Number of Class A common stock issued upon conversion of each share (in shares)	1
Common stock subject to redemption
Class of Stock [Line Items]
Common shares, shares issued (in shares)	387,551		27,600,000
Common shares, shares outstanding (in shares)	387,551		27,600,000

DERIVATIVE WARRANT LIABILITIES

DERIVATIVE WARRANT LIABILITIES (Details)	12 Months Ended
	Dec. 31, 2022 D $ / shares shares	Dec. 31, 2021 shares
DERIVATIVE WARRANT LIABILITIES
Warrants outstanding | shares	13,800,000	13,800,000
Percentage of gross new proceeds to total equity proceeds used to measure dilution of warrant	60
Trading period after business combination used to measure dilution of warrant	20 days
Warrant exercise price adjustment multiple	115
Warrant redemption price adjustment multiple	180
Share PriceTrigger Used To Measure Dilution Of Warrant	$ 9.20
Redemptions of warrants when the price of Class A common stock equals or exceeds $18.00
DERIVATIVE WARRANT LIABILITIES
Warrant redemption condition minimum share price	18
Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00
DERIVATIVE WARRANT LIABILITIES
Warrant redemption condition minimum share price scenario two	10
Redemption price per public warrant (in dollars per share)	$ 0.10
Warrant
DERIVATIVE WARRANT LIABILITIES
Maximum period after business combination in which to file registration statement	20 days
Period of time within which registration statement is expected to become effective	60 days
Warrant | Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00
DERIVATIVE WARRANT LIABILITIES
Warrant redemption condition minimum share price scenario two	$ 10
Threshold consecutive trading days for redemption of public warrants	30 days
Redemption period	30 days
Private Placement Warrants
DERIVATIVE WARRANT LIABILITIES
Warrants outstanding | shares	10,280,000	10,280,000
Public Warrants
DERIVATIVE WARRANT LIABILITIES
Warrant exercise period condition one	30 days
Warrant exercise period condition two	12 months
Public Warrants expiration term	5 years
Restrictions on transfer period of time after business combination completion	30 days
Public Warrants | Redemptions of warrants when the price of Class A common stock equals or exceeds $18.00
DERIVATIVE WARRANT LIABILITIES
Warrant redemption condition minimum share price	$ 18
Redemption price per public warrant (in dollars per share)	$ 0.01
Threshold trading days for redemption of public warrants	20 days
Threshold consecutive trading days for redemption of public warrants	30 days
Threshold number of business days before sending notice of redemption to warrant holders | D	3
Redemption period	30 days

INCOME TAX - Company's net defe

INCOME TAX - Company's net deferred tax assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax asset
Organizational costs/startup expenses	$ 924,537	$ 322,963
Net operating loss carryforward		28,689
Total deferred tax asset	924,537	351,652
Valuation allowance	$ (924,537)	$ (351,652)

INCOME TAX - Income tax provisi

INCOME TAX - Income tax provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal
Current	$ 49,175
Deferred	(572,885)	$ (300,205)
Change in valuation allowance	572,885	$ 300,205
Income tax provision	$ 49,175

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
INCOME TAX
Change in valuation allowance	$ 924,537	$ 351,652
Domestic Tax Authority
INCOME TAX
Operating loss carryforwards	0	137,000
Change in valuation allowance	$ 572,885	$ 300,205

INCOME TAX - Reconciliation of

INCOME TAX - Reconciliation of the federal income tax rate to the Company's effective tax rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
INCOME TAX
Statutory federal income tax rate	21%	21%
State taxes, net of federal tax benefit	0%	0%
Transaction costs allocated to derivative warrant liabilities	0%	0%
Change in fair value of derivative warrant liabilities	(23.90%)	(24.30%)
Valuation allowance	3.20%	3.30%
Income tax provision	0.30%	0%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Assets:
Assets held in the Trust Account	$ 3,923,804	$ 278,836,080
Cash withdrawn from trust account to pay franchise tax	231,500	0
Cash withdrawn from trust account in connection with redemption	275,102,280
Cash
Assets:
Assets held in the Trust Account	3,923,804	898
Money Market Funds
Assets:
Assets held in the Trust Account	278,835,182
Level 1 | Recurring | Public warrants
Liabilities:
Warrant liabilities	414,000	6,461,798
Level 1 | Money Market Funds | Recurring
Assets:
Assets held in the Trust Account		278,835,182
Level 2 | Recurring | Private placement warrants
Liabilities:
Warrant liabilities	$ 308,400	$ 4,813,571

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in the fair value of Level 3 warrant liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
FAIR VALUE MEASUREMENTS
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Fair Value Adjustment of Warrants
Transfers into Level 3	$ 0
Level 3 | Public Warrants
FAIR VALUE MEASUREMENTS
Transfer to Level 1		$ 9,000,000
Level 3 | Private Placement Warrants
FAIR VALUE MEASUREMENTS
Transfer to Level 2		6,700,000
Recurring | Level 3
FAIR VALUE MEASUREMENTS
Fair value, Beginning balance	0	21,912,800
Change in fair value		(6,260,800)
Transfer to Level 1		(8,970,000)
Transfer to Level 2		(6,682,000)
Fair value, Ending balance		0
Recurring | Level 3 | Public Warrants
FAIR VALUE MEASUREMENTS
Fair value, Beginning balance	0	12,558,000
Change in fair value		(3,588,000)
Transfer to Level 1		(8,970,000)
Fair value, Ending balance		0
Recurring | Level 3 | Private Placement Warrants
FAIR VALUE MEASUREMENTS
Fair value, Beginning balance	$ 0	9,354,800
Change in fair value		(2,672,800)
Transfer to Level 2		(6,682,000)
Fair value, Ending balance		$ 0