Logistics Innovation Technologies (LITT) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Document Information Line Items
Entity Registrant Name	LOGISTICS INNOVATION TECHNOLOGIES CORP.
Trading Symbol	LITT
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001848364
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	true
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40476
Entity Tax Identification Number	86-2157398
Entity Address, Address Line One	3495 Piedmont Road NE
Entity Address, Address Line Two	One Piedmont Center
Entity Address, Address Line Three	Bld. 11, Ste. 710
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30305
City Area Code	(731)
Local Phone Number	723-3141
Security Exchange Name	NASDAQ
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Entity Interactive Data Current	Yes
Class A Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		34,089,611
Class B Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		8,522,403

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 507,880	$ 967,124
Prepaid expenses	308,932	453,613
Total current assets	816,812	1,420,737
Prepaid expenses, non-current		192,252
Marketable securities held in Trust Account	342,662,791	340,908,415
Total Assets	343,479,603	342,521,404
Liabilities, Redeemable Class A Common Stock and Stockholders’ Deficit
Accrued expenses	180,006
Due to Sponsors	174,999	84,999
Franchise taxes payable	45,781	138,959
Income taxes payable	388,314
Total current liabilities	789,100	223,958
Warrant liabilities	1,558,033	14,887,877
Deferred underwriting commissions	11,931,364	11,931,364
Total liabilities	14,278,497	27,043,199
Commitments and Contingencies
Redeemable Class A common stock
Class A common stock $0.0001 par value; 380,000,000 shares authorized; 34,089,611 shares issued and outstanding subject to possible redemption, at redemption value	342,228,696	340,908,415
Stockholders’ Deficit:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Class A common stock, $0.0001 par value; 380,000,000 shares authorized; 0 shares issued and outstanding (excluding 34,089,611 shares subject to possible redemption)
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 8,522,403 shares issued and outstanding	853	853
Additional paid-in capital
Accumulated deficit	(13,028,443)	(25,431,063)
Total Stockholders’ Deficit	(13,027,590)	(25,430,210)
Total Liabilities, Redeemable Class A Common Stock and Stockholders’ Deficit	$ 343,479,603	$ 342,521,404

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock shares authorized	1,000,000	1,000,000
Preferred stock shares issued
Preferred stock shares outstanding
Redeemable Class A Common Stock
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock shares authorized	380,000,000	380,000,000
Common stock shares issued	34,089,611	34,089,611
Common stock shares outstanding	34,089,611	34,089,611
Class A Common Stock
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock shares authorized	380,000,000	380,000,000
Common stock shares issued
Common stock shares outstanding
Class B Common Stock
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock shares authorized	20,000,000	20,000,000
Common stock shares issued	8,522,403	8,522,403
Common stock shares outstanding	8,522,403	8,522,403

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Administrative service fee	$ 30,000			$ 90,000
Director and officer insurance	109,180			323,980
Franchise taxes	50,000			184,833
Other operating expenses	308,490	199,820	319,874	653,765
Loss from operations	(497,670)	(199,820)	(319,874)	(1,252,578)
Other income (loss):
Unrealized gain (loss) on fair value changes of warrant liabilities	1,211,805	1,676,938	(692,460)	13,329,844
Bank interest income	1,367	29	29	1,562
Warrant transaction costs			(561,610)
Earnings and gains on marketable securities held in the Trust Account	1,537,734	4,387	5,102	2,032,387
Total other income (loss), net	2,750,906	1,681,354	(1,248,939)	15,363,793
Income (loss) before income taxes	2,253,236	1,481,534	(1,568,813)	14,111,215
Income tax expense	(312,711)			(388,314)
Net income (loss)	$ 1,940,525	$ 1,481,534	$ (1,568,813)	$ 13,722,901
Class A Common Stock
Other income (loss):
Basic and diluted weighted average shares outstanding (in Shares)	34,089,611	34,089,611	16,363,013	34,089,611
Basic and diluted net income (loss) per common stock (in Dollars per share)	$ 0.05	$ 0.03	$ 0.43	$ 0.33
Class B Common Stock
Other income (loss):
Basic and diluted weighted average shares outstanding (in Shares)	8,522,403	8,522,403	7,990,753	8,522,403
Basic and diluted net income (loss) per common stock (in Dollars per share)	$ 0.03	$ 0.03	$ (1.07)	$ 0.29

Condensed Statements of Opera_2

Condensed Statements of Operations (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Class A Common Stock
Basic and diluted weighted average shares outstanding	34,089,611	34,089,611	16,363,013	34,089,611
Basic and diluted net income (loss) per common stock	$ 0.05	$ 0.03	$ 0.43	$ 0.33
Class B Common Stock
Basic and diluted weighted average shares outstanding	8,522,403	8,522,403	7,990,753	8,522,403
Basic and diluted net income (loss) per common stock	$ 0.03	$ 0.03	$ (1.07)	$ 0.29

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders’ Deficit (Unaudited) - USD ($)	Class A Common Stock	Class B Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Feb. 18, 2021
Balance (in Shares) at Feb. 18, 2021
Issuance of Class B common stock to Sponsors		$ 863	24,137		25,000
Issuance of Class B common stock to Sponsors (in Shares)		8,625,000
Net income (loss)				(509)	(509)
Balance at Mar. 31, 2021		$ 863	24,137	(509)	24,491
Balance (in Shares) at Mar. 31, 2021		8,625,000
Net income (loss)				(3,049,838)	(3,049,838)
Deemed contribution from issuance of Private Placement Warrants			3,686,075		3,686,075
Deemed contribution from issuance of Private Placement Warrants (in Shares)
Accretion of common stock subject to possible redemption			(3,710,212)	(24,591,166)	(28,301,378)
Accretion of Common stock subject to possible redemption (in Shares)
Balance at Jun. 30, 2021		$ 863		(27,641,513)	(27,640,650)
Balance (in Shares) at Jun. 30, 2021		8,625,000
Net income (loss)				1,481,534	1,481,534
Accretion of common stock subject to possible redemption			$ (10)	(5,092)	(5,102)
Accretion of Common stock subject to possible redemption (in Shares)
Class B forfeited shares due to partial over-allotment exercise (in Shares)		(10)	10
Class B forfeited shares due to partial over-allotment exercise (in Shares)		(102,597)
Balance at Sep. 30, 2021		$ 853		(26,165,071)	(26,164,218)
Balance (in Shares) at Sep. 30, 2021		8,522,403
Balance at Dec. 31, 2021		$ 853		(25,431,063)	(25,430,210)
Balance (in Shares) at Dec. 31, 2021		8,522,403
Net income (loss)				8,319,325	8,319,325
Accretion of common stock subject to possible redemption				(22,228)	(22,228)
Accretion of Common stock subject to possible redemption (in Shares)
Balance at Mar. 31, 2022		$ 853		(17,133,966)	(17,133,113)
Balance (in Shares) at Mar. 31, 2022		8,522,403
Balance at Dec. 31, 2021		$ 853		(25,431,063)	(25,430,210)
Balance (in Shares) at Dec. 31, 2021		8,522,403
Net income (loss)					13,722,901
Balance at Sep. 30, 2022		$ 853		(13,028,443)	(13,027,590)
Balance (in Shares) at Sep. 30, 2022		8,522,403
Balance at Mar. 31, 2022		$ 853		(17,133,966)	(17,133,113)
Balance (in Shares) at Mar. 31, 2022		8,522,403
Net income (loss)				3,463,051	3,463,051
Accretion of common stock subject to possible redemption				(460,325)	(460,325)
Balance at Jun. 30, 2022		$ 853		(14,131,240)	(14,130,387)
Balance (in Shares) at Jun. 30, 2022		8,522,403
Net income (loss)				1,940,525	1,940,525
Accretion of common stock subject to possible redemption				(837,728)	(837,728)
Accretion of Common stock subject to possible redemption (in Shares)
Balance at Sep. 30, 2022		$ 853		$ (13,028,443)	$ (13,027,590)
Balance (in Shares) at Sep. 30, 2022		8,522,403

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	7 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022
Cash flows from Operating Activities:
Net income (loss)	$ (1,568,813)	$ 13,722,901
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Earnings and gains on marketable securities held in the Trust Account	(5,102)	(2,032,387)
Unrealized (gain) loss on fair value changes of warrant liabilities	692,460	(13,329,844)
Warrant issuance costs	561,610
Changes in operating assets and current liabilities:
Franchise taxes payable		(93,178)
Income taxes payable		388,314
Accrued expenses		180,006
Due to Sponsors		90,000
Prepaid expenses	(762,804)	336,933
Net cash used in operating activities	(1,082,649)	(737,255)
Cash Flows from Investing Activities:
Purchase of marketable securities held in Trust Account	(340,896,110)
Funds withdrawn from Trust Account to pay taxes		278,011
Net cash provided by (used in) investing activities	(340,896,110)	278,011
Cash flows from Financing Activities:
Proceeds from sale of common stock to initial stockholders	25,000
Proceeds from Initial Public Offering, net of underwriters’ commissions	334,578,188
Proceeds from private placement	8,917,922
Proceeds from sponsors	184,185
Proceeds from related party	285,538
Repayments to related party	(255,538)
Payment of deferred offering costs	(611,442)
Net cash provided by financing activities	343,123,853
Net change in cash	1,145,094	(459,244)
Cash, beginning of the period		967,124
Cash, end of the period	1,145,094	507,880
Supplemental disclosure of cash flow information:
Accretion of Redeemable Class A common stock to redemption value, net of taxes payable		1,320,281
Deferred underwriter commissions	$ 11,931,364

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Organization and Business Operations	Note 1 — Organization and Business Operations Logistics Innovation Technologies Corp. (the “Company”) is a blank check company incorporated in Delaware on February 18, 2021. 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 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. As of September 30, 2022, the Company had not commenced any operations. All activity for the period from February 18, 2021 (inception) through September 30, 2022 relates to the Company’s formation and the initial public offering (the “IPO”), and since the closing of IPO, 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 will generate non-operating income in the form of interest income on cash and investments held in the Trust Account from the proceeds derived from the IPO and unrealized gains and losses from the change in the fair value of its warrant liabilities. The Company’s sponsors are 1P Management LLC (the “Sponsor”) and AG LIT Holdings, LLC (“AG LIT”, and together with 1P Management LLC, the “Sponsors”), Delaware limited liability companies. The registration statement for the Company’s IPO was declared effective on June 10, 2021 (the “Effective Date”). On June 15, 2021, the Company consummated its IPO of 34,089,611 units (the “Units”), including the issuance of 4,089,611 Units as a result of the underwriter’s exercise in part of their option to purchase additional Units (the “Over-Allotment Option”). Each Unit consists of one share of Class A common stock, par value $0.0001 per share, and one-third of one redeemable warrant of the Company (“Public Warrant”). Each whole Public Warrant is exercisable into one share of Class A common stock at an exercise price of $11.50 per share. The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $340,896,110. The underwriters had a 45-day option to purchase up to 4,500,000 over-allotment Units. After partially exercising their option at the time of the IPO to purchase 4,089,611 Units, the underwriters had up to 410,389 additional Units available under their option. This 45-day option expired on July 26, 2021. Simultaneously with the consummation of the IPO and the sale of the Units, the Company consummated the private placement (“Private Placement”) of an aggregate 5,945,281 warrants (“Private Placement Warrants”), which were purchased by the Sponsors at a price of $1.50 per Placement Warrant, generating total proceeds of $8,917,922. Transaction costs of the IPO amounted to $18,860,728 consisting of $6,817,922 of underwriting commission, $11,931,364 of deferred underwriting commissions, $611,442 of other offering costs and a reimbursement of $500,000 of underwriting costs from the underwriter. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the IPO and sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. The stock exchange listing rules provide that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting commissions and taxes payable) at the time of the Company signing a definitive agreement in connection with the Business Combination. The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination. Upon the closing of the IPO, management has deposited $10.00 per Unit sold in the IPO, including certain proceeds of the sale of the Private Placement Warrants, into a trust account (“Trust Account”) and has agreed to invest only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. The Trust Account is intended as a holding place for funds pending the earliest to occur of: (i) the completion of the initial Business Combination; (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete the initial Business Combination within 24 months from the closing of the IPO or (B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity; or (iii) absent an initial Business Combination within 24 months from the closing of the IPO, the return of the funds held in the Trust Account to the public stockholders as part of redemption of the Public Shares. The Company will provide its public stockholders with the opportunity to redeem all or a portion of their shares of Class A common stock upon the completion of the initial Business Combination either (i) in connection with a stockholder meeting called to approve the initial Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely in the Company’s discretion. The public stockholders will be entitled to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding Public Shares. The amount in the Trust Account is initially anticipated to be approximately $10.00 per public share. On January 25, 2022 and July 29, 2022, the Company withdrew $12,100 and $265,911, respectively, from the Trust Account for the payment of franchise and income taxes. The shares of common stock subject to redemption was recorded in temporary equity upon the completion of the IPO and immediately accreted to redemption value, in accordance with Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity.” The Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the issued and outstanding shares voted are voted in favor of the Business Combination. The Company’s amended and restated certificate of incorporation provides that the Company will have only 24 months from the closing of the IPO (the “Combination Period”) to complete the initial Business Combination. If the Company is unable to complete its initial business combination within such 24-month period from the closing of the IPO or during any extended period of time that the Company may have to consummate an initial business combination as a result of an amendment to the Company’s amended and restated certificate of incorporation (an “Extension Period”), 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 business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and the Company’s board of directors, liquidate and dissolve, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the warrants, which will expire worthless if the Company fails to complete its initial business combination within the 24-month time period or during any Extension Period. The Sponsors have agreed that they will 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 entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 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 $10.00 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 the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsors to reserve for such indemnification obligations, nor has the Company independently verified whether the Sponsors have sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsors’ only assets are securities of the Company. Therefore, there is no assurance that the Sponsors would be able to satisfy those obligations. Liquidity, Capital Resources and Going Concern At September 30, 2022, the Company had cash outside the Trust Account of $507,880 and working capital of $461,807 (excluding Delaware franchise and income taxes which are payable from earnings from the Trust Account). Excluding Delaware franchise and income taxes payable, all remaining investments held in the Trust Account is generally unavailable for the Company’s use prior to an initial business combination and is restricted for use either in a Business Combination or to redeem common stock. In order to finance transaction costs in connection with a Business Combination or any extension of the deadline by which the Company must consummate its initial business combination or liquidate, the Sponsors or an affiliate of the Sponsors or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes an initial Business Combination, the Company would repay such loaned amounts out of the proceeds of the Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside the Trust Account. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into warrants, at a price of $1.50 per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period. As of September 30, 2022 and December 31, 2021, no Working Capital Loans were outstanding. The Company’s assessment of going concern considerations was made in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The Company has incurred and expects to continue to incur significant costs in pursuit of its financing and acquisition plans. The Company may need to raise additional capital through loans or additional investments from its Sponsors, shareholders, officers, directors, or third parties. The Company’s officers, directors and Sponsors 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, it 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 one year from the date these financial statements are issued. Risks and Uncertainties Management is continuing to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus 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 financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these financial statements. The specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2 — Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the period presented. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Form 10-K for the year ended December 31, 2021 as filed with the SEC on April 15, 2022, which contains the audited financial statements and notes thereto. The interim results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any future periods. Emerging Growth Company Status 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 auditor 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 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 financial statements in conformity with GAAP requires 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 financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2022 or December 31, 2021. Marketable Securities Held in Trust Account Marketable securities held in Trust Account consisted of U.S. Money Market Funds. The Company classifies its investments in a U.S. Money Market Fund as short-term investments at fair value within marketable securities held in trust account on the balance sheets. Earnings and gains from the marketable securities held in the Trust Account are recognized in earnings and gains on marketable securities held in the trust account on the statements of operations. Fair Value of Financial Instruments ASC 820, “Fair Value Measurement”, defines fair value as the amount that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants. Fair value measurements are classified on a three-tier hierarchy as follows: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy described above. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The fair value of the Company’s financial assets and liabilities, except for the warrant liabilities, approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature. Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with ASC 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value upon issuance and remeasured at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative financial instruments is evaluated at the end of each reporting period.      Warrants The Company accounts for the redeemable warrants to public investors (the “Public Warrants”) and Private Placement Warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance of ASC 480 and 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 shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, 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. Because the Company does not control the occurrence of events, such as a tender offer or exchange, that may trigger cash settlement of the warrants where not all of the stockholders also receive cash, the warrants do not meet the criteria for equity treatment thereunder, as such, the warrants must be recorded as derivative liabilities. Class A Common Stock Subject to Possible Redemption The Company’s shares of Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, 34,089,611 Class A common stock subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders’ deficit section of the Company’s balance sheets. 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. Such changes are reflected in additional paid-in capital, or in the absence of additional paid-in capital, in accumulated deficit. For the nine months ended September 30, 2022 the remeasurement adjustment of carrying value to redemption value was $1,320,281. September 30, 2022 December 31, 2021 As of beginning of the period $ 340,908,415 $ - Gross proceeds from IPO - 340,896,110 Less: Proceeds allocated to Public Warrants - (10,002,260 ) Class A common stock issuance costs - (18,299,118 ) Plus: Accretion of Redeemable Class A common stock to redemption value 1,320,281 28,313,683 Class A common stock subject to possible redemption $ 342,228,696 $ 340,908,415 Offering Costs Associated with IPO Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the IPO. Offering costs are charged against the carrying value of Class A Common Stock or the statement of operations based on the relative value of the Class A Common Stock and the Public Warrants to the proceeds received from the Units sold upon the completion of the IPO. Share Based Compensation The Company complies with ASC 718, “Compensation — Stock Compensation” regarding founder shares acquired by directors of the Company at prices below fair value. The acquired shares shall vest upon the Company consummating an initial Business Combination (the “Vesting Date”). If prior to the Vesting Date, the director ceases to be a director, the shares will be forfeited. The founder shares owned by the director (1) may not be sold or transferred, until 180 days after the consummation of a Business Combination, (2) not be entitled to redemption from the funds held in the Trust Account, or any liquidating distributions. The Company has 24 months from the date of the IPO to consummate a Business Combination, and if a Business Combination is not consummated, the Company will liquidate and the shares will become worthless. The shares were issued on March 3, 2021 (“Grant Date”), and the shares vest, not upon a fixed date, but upon consummation of an initial Business Combination. Since the approach in ASC 718 is to determine the fair value without regard to the vesting date, the Company has determined the valuation of the Class B common stock as of the Grant Date. The valuation resulted in a fair value of $6.29 per share, or an aggregate of $2,358,750 for the 375,000 shares. Upon consummation of an initial Business Combination the Company will recognize $2,358,750 in compensation expense. Net Income (Loss) Per Common Stock The statements of operations include a presentation of net income (loss) per Class A redeemable common stock and net income (loss) per Class B common stock following the two-class method of income (loss) per share. In order to determine the net income (loss) attributable to both the Class A redeemable stock and Class B common stock, the Company first considered the total income (loss) allocable to both sets of stock. This is calculated using the total net income (loss) less any dividends paid. For purposes of calculating net income (loss) per share, any remeasurement of the Class A common stock subject to possible redemption was considered to be dividends paid to the public stockholders. Subsequent to calculating the total income (loss) allocable to the Class A common stock and the Class B common stock, the Company allocated the net income (loss) including accretion of temporary equity to redemption value using a ratio of 80% for the Class A redeemable common stock and 20% for the non-redeemable common stock for the three and nine months ended September 30, 2022, reflective of the participation rights. The earnings per share presented in the statements of operations is based on the following: For the For the Net income (loss) $ 1,940,525 $ 1,481,534 Less: Accretion of temporary equity to redemption value (837,728 ) (5,092 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 1,102,797 $ 1,476,442 For the For the Net income (loss) $ 13,722,901 $ (1,568,813 ) Less: Accretion of temporary equity to redemption value (1,320,281 ) (24,596,258 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 12,402,620 $ (26,165,071 ) For the three months ended For the three months ended September 30, September 30, Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 882,238 $ 220,559 $ 1,181,154 $ 295,288 Deemed dividend for accretion of temporary equity to redemption value 837,728 - 5,092 - Allocation of net income (loss) $ 1,719,966 $ 220,559 $ 1,186,246 $ 295,288 Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 34,089,611 8,522,403 Basic and diluted net income (loss) per share $ 0.05 $ 0.03 $ 0.03 $ 0.03 For the nine months ended For the period from Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 9,922,096 $ 2,480,524 $ (17,580,008 ) $ (8,585,063 ) Deemed dividend for accretion of temporary equity to redemption value 1,320,281 - 24,596,258 - Allocation of net income (loss) $ 11,242,377 $ 2,480,524 $ 7,016,250 $ (8,585,063 ) Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 16,363,013 7,990,753 Basic and diluted net income (loss) per share $ 0.33 $ 0.29 $ 0.43 $ (1.07 ) In connection with the underwriters’ partial exercise of the Over-Allotment Option on June 15, 2021, 1,022,403 Founder Shares were no longer subject to forfeiture. These shares were excluded from the calculation of weighted average shares outstanding. At September 30, 2022 and December 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in earnings. As a result, diluted income (loss) per share is the same as basic income (loss) per share for the periods presented. Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the unaudited condensed 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. As of September 30, 2022 and December 31, 2021, the Company’s deferred tax asset had a full valuation allowance recorded against it. Our effective tax rate was -13.88% and 0.00% for the three months ended September 30, 2022 and 2021, respectively, and -2.75% and 0.00% for the nine months ended September 30, 2022 and 2021, respectively. The effective tax rate differs from the statutory tax rate of 21% for the three and nine months ended September 30, 2022 and 2021, due to changes in fair value in warrant liability and the valuation allowance on the deferred tax assets. While ASC 740 identifies usage of an effective annual tax rate for purposes of an interim provision, it does allow for estimating individual elements in the current period if they are significant, unusual or infrequent. Computing the effective tax rate for the Company is complicated due to the potential impact of the Company’s change in fair value of warrants (or any other change in fair value of a complex financial instrument), the timing of any potential business combination expenses and the actual interest income that will be recognized during the year. The Company has taken a position as to the calculation of income tax expense in a current period based on ASC 740-270-25-3 which states, “If an entity is unable to estimate a part of its ordinary income (or loss) or the related tax (benefit) but is otherwise able to make a reasonable estimate, the tax (or benefit) applicable to the item that cannot be estimated shall be reported in the interim period in which the item is reported.” The Company believes its calculation to be a reliable estimate and allows it to properly take into account the usual elements that can impact its annualized book income and its impact on the effective tax rate. As such, the Company is computing its taxable income (loss) and associated income tax provision based on actual results through September 30, 2022. The Company is taking the position that the deferred tax asset related to the unutilized net operating loss (“NOL” should still be fully reserved. While interest rates have increased, the actual amount of interest income for tax purposes may differ significantly due to the timing of treasuries purchased, whether the Company invests in treasuries or potential unrealized interest income based on maturity. Additionally, the NOL utilization is limited to 80% so the approach and estimate used in the interim period is conservative in nature while reviewing the pertinent facts unique to the Company’s income tax situation. 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 September 30, 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. Recent Accounting Pronouncements During August 2020, the 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. The Company adopted ASU 2020-06 on January 1, 2022 and the standard was applied on a full retrospective basis. There was no material impact on the Company’s financial position, results of operations or cash flows. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Initial Public Offering

Initial Public Offering	9 Months Ended
	Sep. 30, 2022
Initial Public Offering Abstract
Initial Public Offering	Note 3 — Initial Public Offering On June 15, 2021, the Company consummated its IPO of 34,089,611 Units, including the issuance of 4,089,611 Units as a result of the underwriter’s exercise in part of their Over-Allotment Option. Each Unit consists of one share of Class A common stock, par value $0.0001 per share, and one-third of one redeemable Public Warrant, each whole Public Warrant exercisable into one share of Class A common stock at an exercise price of $11.50 per share. The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company of $340,896,110. The underwriters had a 45-day option to purchase up to 4,500,000 over-allotment Units. After partially exercising their Over-Allotment Option at the time of the IPO to purchase 4,089,611 Units, the underwriters had up to 410,389 additional Units available under their Over-Allotment Option. This 45-day option expired on July 26, 2021.

Private Placement

Private Placement	9 Months Ended
	Sep. 30, 2022
Private Placement [Abstract]
Private Placement	Note 4 — Private Placement Simultaneously with the closing of the IPO and the sale of the Units, the Company consummated the Private Placement of an aggregate 5,945,281 Private Placement Warrants, which were purchased by 1P Management LLC and AG LIT Holdings, LLC (and/or its designees), at a price of $1.50 per Private Placement Warrant, generating total proceeds of $8,917,922. Each Private Placement Warrant is exercisable for one share of Class A common stock at a price of $11.50 per share. The Company recorded the excess of the proceeds over the fair value of the Private Placement Warrants of $3,686,075 in additional paid-in capital as deemed capital contribution. Each Private Placement Warrant is exercisable for one share of Class A common stock at a price of $11.50 per share. The Private Placement Warrants (including the Class A common stock issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination and they will not be redeemable by the Company so long as they are held by the Sponsors or its permitted transferees. The Sponsors, or its permitted transferees, have the option to exercise the Private Placement Warrants on a cashless basis. The Sponsors, officers and directors of the Company have entered into a letter agreement with the Company, pursuant to which they have agreed (A) to waive their redemption rights with respect to any Company’s Class B common stock, par value $0.0001 per share (the “Founder Shares”) and Public Shares they hold in connection with the completion of the Company’s initial business combination, (B) to waive their redemption rights with respect to any Founder Shares and Public Shares they hold in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of the Company’s Public Shares if the Company has not consummated an initial business combination within the Combination Period or with respect to any other provisions relating to stockholders’ rights or pre-initial business combination activity and (C) to waive their rights to liquidating distributions from the trust account with respect to any Founder Shares they hold if the Company fails to complete an initial business combination within the Combination Period or during any Extension Period, although they will be entitled to liquidating distributions from the trust account with respect to any Public Shares they hold if the Company fails to complete an initial business combination within such time period, and (iii) the Founder Shares are automatically convertible into Class A common stock concurrently with or immediately following the consummation of an initial business combination on a one-for-one basis, subject to adjustment as described in the Company’s amended and restated certificate of incorporation. If the Company submits an initial business combination to the Company’s public stockholders for a vote, the Company’s initial stockholders have agreed to vote their Founder Shares and any Public Shares purchased during or after the IPO in favor of the initial business combination.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 5 — Related Party Transactions Related Party Loans In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsors or an affiliate of the Sponsors or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes an initial Business Combination, the Company would repay such loaned amounts out of the proceeds of the Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside the Trust Account. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into warrants, at a price of $1.50 per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period. As of September 30, 2022 and December 31, 2021, no Administrative Services Agreement The Company has entered into an agreement that would provide that, subsequent to the closing of the IPO and continuing until the earlier of the Company’s consummation of a Business Combination or the Company’s liquidation, the Company will pay one of the Sponsors a total of $10,000 per month for office space, secretarial and administrative services. For the three and nine months ended September 30, 2022, $30,000 and $90,000 of administrative fees have been incurred with $150,000 remaining outstanding and reported on the balance sheets within due to sponsor. At September 30, 2022 and December 31, 2021, administrative fees of $150,000 and $60,000, respectively, remained outstanding and reported on the balance sheet within Due to Sponsors. Founder Shares On February 18, 2021, 1P paid $25,000 to the Company in consideration for 11,500,000 shares of Class B common stock. The number of Founder Shares issued was determined based on the expectation that the Founder Shares would represent 20% of the outstanding shares of common stock upon completion of the IPO. On March 31, 2021, the Sponsors surrendered 1,437,500 Founder Shares to the Company for cancellation for no consideration. On June 10, 2021, 1,437,500 Founder Shares were surrendered to the Company for cancellation for no consideration, resulting in 8,625,000 shares of Class B common stock outstanding. Of the 8,625,000 shares of Class B common stock outstanding, an aggregate of 1,125,000 shares were subject to forfeiture to the extent that the underwriters’ Over-Allotment Option was not exercised in full or in part, so that the Sponsors will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the IPO. On June 15, 2021, Company consummated its IPO and the underwriters partially exercised their Over-Allotment Option. As a result 102,597 Founder Shares were subject to forfeiture as of June 15, 2021. On July 26, 2021, such remaining Founder Shares were forfeited. The Founder Shares will automatically convert into shares of Class A common stock upon consummation of a Business Combination on a one-for-one basis, subject to certain adjustments. The Sponsors have agreed not to transfer, assign or sell any of their Founder Shares until the earlier to occur of (A) one year after the completion of the initial Business Combination or (B) subsequent to the initial 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 dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the stockholders having the right to exchange their shares of common stock for cash, securities or other property. Promissory Note — Related Party On February 18, 2021, the Sponsors agreed to loan the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the IPO. Upon the closing of the IPO no borrowings were permitted under this note.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 6 — Fair Value Measurements Marketable Securities Held in Trust Account Fair values of the Company’s marketable securities are classified as Level 1 utilizing quoted prices (unadjusted) in active markets for identical assets. Public Placement Warrants On August 2, 2021, the Company announced that holders of the Units sold in the Company’s IPO may elect to separately trade the shares of Class A common stock and warrants included in the Units. At September 30, 2022 and December 31, 2021, valuation for the Public Warrants was based on unadjusted quoted prices in an active market (Nasdaq) for identical assets or liabilities that the Company has the ability to access. The fair value of the Public Warrant liability was classified within Level 1 of the fair value hierarchy. Private Placement Warrants The Company’s views the Private Placement Warrants to be economically equivalent to the Public Warrants. As such, the fair value of the Private Placement Warrants is based on the fair value of the Public Warrants. The fair value of the Private Placement Warrant liability is classified within Level 2 of the fair value hierarchy. For the nine months ended September 30, 2022 and for the period from February 18, 2021 (inception) through September 30, 2021 there were no transfers into or out of Level 3 classification. The following tables presents fair value information of the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. September 30, 2022 Level 1 Level 2 Level 3 Investments held in Trust Account – U.S. Money Market $ 342,662,791 $ - $ - Public Warrant liability $ 1,022,958 $ - $ - Private Placement Warrants liability $ - $ 535,075 $ - December 31, 2021 Level 1 Level 2 Level 3 Investments held in Trust Account – U.S. Money Market $ 340,908,415 $ - $ - Public Warrant liability $ 9,774,935 $ - $ - Private Placement Warrant liability $ - $ 5,112,942 $ - The Company’s permitted investments and warrants are revalued each quarter with changes in fair value recognized in the statements of operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 — Commitments and Contingencies Registration and Stockholder Rights The holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans (and any shares of Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to the consummation of the IPO, requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to the Class A common stock). The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. Underwriting Agreement The underwriters had a 45-day option to purchase up to 4,500,000 over-allotment Units. After partially exercising their option at the time of the IPO to purchase 4,089,611 Units, the underwriters had up to 410,389 additional Units available under their option. This 45-day option expired on July 26, 2021. The underwriters were paid a cash underwriting commission of two percent (2%) of the gross proceeds of the IPO, or $6,817,922 and reimbursed the Company $500,000 for offering expenses. Additionally, the underwriter will be entitled to a deferred underwriting commission of 3.5% of the gross proceeds of the IPO held in the Trust Account upon the completion of the Company’s initial Business Combination subject to the terms of the underwriting agreement.

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity [Abstract]
Stockholders’ Equity (Deficit)	Note 8 — Stockholders’ Equity (Deficit) Preferred Stock The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At September 30, 2022 and December 31, 2021, there were no shares of preferred stock issued or outstanding. Class A Common Stock The Company is authorized to issue 380,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share. At September 30, 2022 and December 31, 2021, there were no shares of Class A common stock issued or outstanding (excluding 34,089,611 shares subject to possible redemption). Class B Common Stock The Company is authorized to issue 20,000,000 shares of Class B common stock with a par value of $0.0001 per share. Holders of the Company’s Class B common stock are entitled to one vote for each common share. As of September 30, 2022 and December 31, 2021, there were 8,522,403 shares of Class B common stock issued and outstanding. At February 18, 2021, there were 11,500,000 shares of Class B common stock issued and outstanding. On March 31, 2021, the Sponsors surrendered 1,437,500 Founder Shares to the Company for cancellation for no consideration. On June 10, 2021, 1,437,500 Founder Shares were surrendered to the Company for cancellation for no consideration, resulting in 8,625,000 shares of Class B common stock outstanding. Of the 8,625,000 shares of Class B common stock outstanding, an aggregate of 1,125,000 shares were subject to forfeiture to the extent that the underwriters’ Over-Allotment Option was not exercised in full or in part, so that the Sponsors will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the IPO. All share and per share amounts have been retroactively restated. (See Note 5) On June 15, 2021, Company consummated its IPO and the underwriters partially exercised their Over-Allotment Option. As a result, 102,597 Founder Shares were subject to forfeiture. On July 26, 2021, such remaining Founder Shares were forfeited. Holders of Class A common stock and Class B common stock will vote together as a single class on all matters submitted to a vote of stockholders, except as required by law; provided that only holders of shares of Class B common stock have the right to vote on the election of the Company’s directors prior to the initial Business Combination. The shares of Class B common stock will automatically convert into shares of Class A common stock at the time of a Business Combination on a one-for-one basis (subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like), and subject to further 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 offered in the IPO and related to the closing of a Business Combination, 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 outstanding shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed 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 completion of the IPO 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 to be issued, to any seller in a Business Combination and any private placement-equivalent warrants issued to the Sponsors or its affiliates upon conversion of loans made to the Company).

Warrant Liabilities

Warrant Liabilities	9 Months Ended
	Sep. 30, 2022
Warrant Liabilities [Abstract]
Warrant Liabilities	Note 9 — Warrant Liabilities Each whole warrant entitles the registered holder to purchase one whole share of the Class A common stock at a price of $11.50 per share, subject to adjustment, at any time commencing 30 days after the completion of the initial Business Combination. The warrants will expire five years after the completion of the initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of the initial Business Combination, the Company will use the commercially reasonable efforts to file a post-effective amendment to the registration statement, or a registration statement, for the registration, under the Securities Act, of the shares of Class A common stock issuable upon exercise of the warrants, and the Company will use the commercially reasonable efforts to cause the same to become effective within 60 business days after the closing of the initial Business Combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to the shares of Class A common stock until the warrants expire or are redeemed, as specified in the warrant agreement; provided that if the shares of Class A common stock are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy 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 elect, it will not be required to file or maintain in effect a registration statement, but the Company will use the commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If a registration statement covering the shares of Class A common stock issuable upon exercise of the warrants is not effective by the 60 th Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described herein with respect to the Private Placement Warrants): ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and ● if, and only if, the closing price of the Class A common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders. Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the warrants become exercisable, the Company may redeem the outstanding warrants (but not the Private Placement Warrants): ● in whole and not in part; ● at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the “fair market value” of the Class A common stock (as defined above) except as otherwise described below; and ● if, and only if, the closing price of the Class A common stock equals or exceeds $10.00 per public share for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders. 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 the initial Business Combination at an issue price or effective issue price of less than $9.20 per common stock (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the Sponsors or its affiliates, without taking into account any Founder Shares held by the Sponsors or such 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 the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial 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 described above under “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00” and “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00” 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 described above under “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. If a tender offer, exchange or redemption offer shall have been made to and accepted by the holders of the Class A common stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders as provided for in the amended and restated certificate of incorporation or as a result of the repurchase of shares of Class A common stock by the Company if a proposed initial business combination is presented to the stockholders for approval) and upon completion of such offer, the offeror owns beneficially more than 50% of the outstanding shares of Class A Common Stock, the holder of the warrant shall be entitled to receive the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if such warrant had been exercised, accepted such offer and all of the Class A Common Stock held by such holder had been purchased pursuant to the offer. If less than 70% of the consideration receivable by the holders of the Class A common stock in the applicable event is payable in the form of common equity in the successor entity that is listed on a national securities exchange or is quoted in an established over-the-counter market, and if the holder of the warrant properly exercises the warrant within thirty days following the public disclosure of the consummation of the applicable event by the Company, the warrant price shall be reduced by an amount equal to the difference (but in no event less than zero) of (i) the warrant price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined in the warrant agreement) minus (B) the value of the warrant based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets. The Company accounted for the Public Warrants and Private Placement Warrants as liabilities in accordance with the guidance contained in ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”, upon issuance at IPO. Because the Company does not control the occurrence of events, such as a tender offer or exchange, that may trigger cash settlement of the warrants where not all of the stockholders also receive cash, the warrants do not meet the criteria for equity treatment thereunder, as such, the warrants must be recorded as derivative liability. Additionally, certain adjustments to the settlement amount of the Private Placement Warrants are based on a variable that is not an input to the fair value of a “fixed-for-fixed” option as defined under ASC 815 — 40, and thus the Private Placement Warrants are not considered indexed to the Company’s own stock and not eligible for an exception from derivative accounting. The accounting treatment of derivative financial instruments requires that the Company record a derivative liability upon issuance of the warrants at the closing of the IPO. Accordingly, the Company classified each warrant as a liability at its fair value. The Public Warrants were allocated a portion of the proceeds from the issuance of the Units equal to its fair value determined with the assistance of a professional independent valuation firm. The warrant liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. The Company will reassess the classification of the warrants at each balance sheet date. If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the period presented. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Form 10-K for the year ended December 31, 2021 as filed with the SEC on April 15, 2022, which contains the audited financial statements and notes thereto. The interim results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any future periods.
Emerging Growth Company Status	Emerging Growth Company Status 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 auditor 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 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 financial statements in conformity with GAAP requires 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 financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Cash Equivalents	Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2022 or December 31, 2021.
Marketable Securities Held in Trust Account	Marketable Securities Held in Trust Account Marketable securities held in Trust Account consisted of U.S. Money Market Funds. The Company classifies its investments in a U.S. Money Market Fund as short-term investments at fair value within marketable securities held in trust account on the balance sheets. Earnings and gains from the marketable securities held in the Trust Account are recognized in earnings and gains on marketable securities held in the trust account on the statements of operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820, “Fair Value Measurement”, defines fair value as the amount that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants. Fair value measurements are classified on a three-tier hierarchy as follows: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy described above. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. The fair value of the Company’s financial assets and liabilities, except for the warrant liabilities, approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature.
Derivative Financial Instruments	Derivative Financial Instruments The Company accounts for derivative financial instruments in accordance with ASC 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value upon issuance and remeasured at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative financial instruments is evaluated at the end of each reporting period.
Warrants	Warrants The Company accounts for the redeemable warrants to public investors (the “Public Warrants”) and Private Placement Warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance of ASC 480 and 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 shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, 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. Because the Company does not control the occurrence of events, such as a tender offer or exchange, that may trigger cash settlement of the warrants where not all of the stockholders also receive cash, the warrants do not meet the criteria for equity treatment thereunder, as such, the warrants must be recorded as derivative liabilities.
Class A Common Stock Subject to Possible Redemption	Class A Common Stock Subject to Possible Redemption The Company’s shares of Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, 34,089,611 Class A common stock subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders’ deficit section of the Company’s balance sheets. 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. Such changes are reflected in additional paid-in capital, or in the absence of additional paid-in capital, in accumulated deficit. For the nine months ended September 30, 2022 the remeasurement adjustment of carrying value to redemption value was $1,320,281. September 30, 2022 December 31, 2021 As of beginning of the period $ 340,908,415 $ - Gross proceeds from IPO - 340,896,110 Less: Proceeds allocated to Public Warrants - (10,002,260 ) Class A common stock issuance costs - (18,299,118 ) Plus: Accretion of Redeemable Class A common stock to redemption value 1,320,281 28,313,683 Class A common stock subject to possible redemption $ 342,228,696 $ 340,908,415
Offering Costs Associated with IPO	Offering Costs Associated with IPO Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the IPO. Offering costs are charged against the carrying value of Class A Common Stock or the statement of operations based on the relative value of the Class A Common Stock and the Public Warrants to the proceeds received from the Units sold upon the completion of the IPO.
Share Based Compensation	Share Based Compensation The Company complies with ASC 718, “Compensation — Stock Compensation” regarding founder shares acquired by directors of the Company at prices below fair value. The acquired shares shall vest upon the Company consummating an initial Business Combination (the “Vesting Date”). If prior to the Vesting Date, the director ceases to be a director, the shares will be forfeited. The founder shares owned by the director (1) may not be sold or transferred, until 180 days after the consummation of a Business Combination, (2) not be entitled to redemption from the funds held in the Trust Account, or any liquidating distributions. The Company has 24 months from the date of the IPO to consummate a Business Combination, and if a Business Combination is not consummated, the Company will liquidate and the shares will become worthless. The shares were issued on March 3, 2021 (“Grant Date”), and the shares vest, not upon a fixed date, but upon consummation of an initial Business Combination. Since the approach in ASC 718 is to determine the fair value without regard to the vesting date, the Company has determined the valuation of the Class B common stock as of the Grant Date. The valuation resulted in a fair value of $6.29 per share, or an aggregate of $2,358,750 for the 375,000 shares. Upon consummation of an initial Business Combination the Company will recognize $2,358,750 in compensation expense.
Net Income (Loss) Per Common Stock	Net Income (Loss) Per Common Stock The statements of operations include a presentation of net income (loss) per Class A redeemable common stock and net income (loss) per Class B common stock following the two-class method of income (loss) per share. In order to determine the net income (loss) attributable to both the Class A redeemable stock and Class B common stock, the Company first considered the total income (loss) allocable to both sets of stock. This is calculated using the total net income (loss) less any dividends paid. For purposes of calculating net income (loss) per share, any remeasurement of the Class A common stock subject to possible redemption was considered to be dividends paid to the public stockholders. Subsequent to calculating the total income (loss) allocable to the Class A common stock and the Class B common stock, the Company allocated the net income (loss) including accretion of temporary equity to redemption value using a ratio of 80% for the Class A redeemable common stock and 20% for the non-redeemable common stock for the three and nine months ended September 30, 2022, reflective of the participation rights. The earnings per share presented in the statements of operations is based on the following: For the For the Net income (loss) $ 1,940,525 $ 1,481,534 Less: Accretion of temporary equity to redemption value (837,728 ) (5,092 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 1,102,797 $ 1,476,442 For the For the Net income (loss) $ 13,722,901 $ (1,568,813 ) Less: Accretion of temporary equity to redemption value (1,320,281 ) (24,596,258 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 12,402,620 $ (26,165,071 ) For the three months ended For the three months ended September 30, September 30, Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 882,238 $ 220,559 $ 1,181,154 $ 295,288 Deemed dividend for accretion of temporary equity to redemption value 837,728 - 5,092 - Allocation of net income (loss) $ 1,719,966 $ 220,559 $ 1,186,246 $ 295,288 Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 34,089,611 8,522,403 Basic and diluted net income (loss) per share $ 0.05 $ 0.03 $ 0.03 $ 0.03 For the nine months ended For the period from Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 9,922,096 $ 2,480,524 $ (17,580,008 ) $ (8,585,063 ) Deemed dividend for accretion of temporary equity to redemption value 1,320,281 - 24,596,258 - Allocation of net income (loss) $ 11,242,377 $ 2,480,524 $ 7,016,250 $ (8,585,063 ) Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 16,363,013 7,990,753 Basic and diluted net income (loss) per share $ 0.33 $ 0.29 $ 0.43 $ (1.07 ) In connection with the underwriters’ partial exercise of the Over-Allotment Option on June 15, 2021, 1,022,403 Founder Shares were no longer subject to forfeiture. These shares were excluded from the calculation of weighted average shares outstanding. At September 30, 2022 and December 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in earnings. As a result, diluted income (loss) per share is the same as basic income (loss) per share for the periods presented.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the unaudited condensed 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. As of September 30, 2022 and December 31, 2021, the Company’s deferred tax asset had a full valuation allowance recorded against it. Our effective tax rate was -13.88% and 0.00% for the three months ended September 30, 2022 and 2021, respectively, and -2.75% and 0.00% for the nine months ended September 30, 2022 and 2021, respectively. The effective tax rate differs from the statutory tax rate of 21% for the three and nine months ended September 30, 2022 and 2021, due to changes in fair value in warrant liability and the valuation allowance on the deferred tax assets. While ASC 740 identifies usage of an effective annual tax rate for purposes of an interim provision, it does allow for estimating individual elements in the current period if they are significant, unusual or infrequent. Computing the effective tax rate for the Company is complicated due to the potential impact of the Company’s change in fair value of warrants (or any other change in fair value of a complex financial instrument), the timing of any potential business combination expenses and the actual interest income that will be recognized during the year. The Company has taken a position as to the calculation of income tax expense in a current period based on ASC 740-270-25-3 which states, “If an entity is unable to estimate a part of its ordinary income (or loss) or the related tax (benefit) but is otherwise able to make a reasonable estimate, the tax (or benefit) applicable to the item that cannot be estimated shall be reported in the interim period in which the item is reported.” The Company believes its calculation to be a reliable estimate and allows it to properly take into account the usual elements that can impact its annualized book income and its impact on the effective tax rate. As such, the Company is computing its taxable income (loss) and associated income tax provision based on actual results through September 30, 2022. The Company is taking the position that the deferred tax asset related to the unutilized net operating loss (“NOL” should still be fully reserved. While interest rates have increased, the actual amount of interest income for tax purposes may differ significantly due to the timing of treasuries purchased, whether the Company invests in treasuries or potential unrealized interest income based on maturity. Additionally, the NOL utilization is limited to 80% so the approach and estimate used in the interim period is conservative in nature while reviewing the pertinent facts unique to the Company’s income tax situation. 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 September 30, 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements During August 2020, the 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. The Company adopted ASU 2020-06 on January 1, 2022 and the standard was applied on a full retrospective basis. There was no material impact on the Company’s financial position, results of operations or cash flows. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of additional paid in capital	September 30, 2022 December 31, 2021 As of beginning of the period $ 340,908,415 $ - Gross proceeds from IPO - 340,896,110 Less: Proceeds allocated to Public Warrants - (10,002,260 ) Class A common stock issuance costs - (18,299,118 ) Plus: Accretion of Redeemable Class A common stock to redemption value 1,320,281 28,313,683 Class A common stock subject to possible redemption $ 342,228,696 $ 340,908,415
Schedule of earnings per share presented in the statements of operations	For the For the Net income (loss) $ 1,940,525 $ 1,481,534 Less: Accretion of temporary equity to redemption value (837,728 ) (5,092 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 1,102,797 $ 1,476,442 For the For the Net income (loss) $ 13,722,901 $ (1,568,813 ) Less: Accretion of temporary equity to redemption value (1,320,281 ) (24,596,258 ) Net income (loss) excluding accretion of temporary equity to redemption value $ 12,402,620 $ (26,165,071 )
Schedule of basic and diluted net income per share	For the three months ended For the three months ended September 30, September 30, Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 882,238 $ 220,559 $ 1,181,154 $ 295,288 Deemed dividend for accretion of temporary equity to redemption value 837,728 - 5,092 - Allocation of net income (loss) $ 1,719,966 $ 220,559 $ 1,186,246 $ 295,288 Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 34,089,611 8,522,403 Basic and diluted net income (loss) per share $ 0.05 $ 0.03 $ 0.03 $ 0.03 For the nine months ended For the period from Class A Class B Class A Class B Basic and diluted net income (loss) per share: Numerator: Allocation of net income (loss) including accretion of temporary equity $ 9,922,096 $ 2,480,524 $ (17,580,008 ) $ (8,585,063 ) Deemed dividend for accretion of temporary equity to redemption value 1,320,281 - 24,596,258 - Allocation of net income (loss) $ 11,242,377 $ 2,480,524 $ 7,016,250 $ (8,585,063 ) Denominator: Weighted-average shares outstanding 34,089,611 8,522,403 16,363,013 7,990,753 Basic and diluted net income (loss) per share $ 0.33 $ 0.29 $ 0.43 $ (1.07 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements [Abstract]
Schedule of fair value hierarchy of the valuation techniques	September 30, 2022 Level 1 Level 2 Level 3 Investments held in Trust Account – U.S. Money Market $ 342,662,791 $ - $ - Public Warrant liability $ 1,022,958 $ - $ - Private Placement Warrants liability $ - $ 535,075 $ - December 31, 2021 Level 1 Level 2 Level 3 Investments held in Trust Account – U.S. Money Market $ 340,908,415 $ - $ - Public Warrant liability $ 9,774,935 $ - $ - Private Placement Warrant liability $ - $ 5,112,942 $ -

Organization and Business Ope_2

Organization and Business Operations (Details) - USD ($)	1 Months Ended	7 Months Ended	9 Months Ended
	Jun. 15, 2021	Sep. 30, 2021	Sep. 30, 2022	Jul. 29, 2022	Jan. 25, 2022
Organization and Business Operations (Details) [Line Items]
Issuance of stock (in Shares)	4,089,611
Price per share (in Dollars per share)	$ 10
Gross proceeds	$ 340,896,110	$ 25,000
Additional units (in Shares)			410,389
Underwriting commission			$ 6,817,922
Deferred underwriting discount			11,931,364
Other offering cost			611,442
Underwriting cost			$ 500,000
Fair market value, percentage			80%
Outstanding voting percentage			50%
Public shares redeem percentage			100%
Public per share (in Dollars per share)			$ 10
Trust account payment of taxes				$ 265,911	$ 12,100
Net tangible assets			$ 5,000,001
Interest to pay dissolution expenses			100,000
Cash			507,880
Working capital			461,807
Loans convertible into warrants			$ 1,500,000
Warrant [Member]
Organization and Business Operations (Details) [Line Items]
Price per share (in Dollars per share)			$ 1.5
IPO [Member]
Organization and Business Operations (Details) [Line Items]
Aggregate warrants (in Shares)	34,089,611
Issuance of stock (in Shares)			4,089,611
Purchase units (in Shares)			4,089,611
Price per share (in Dollars per share)			$ 10
Transaction costs			$ 18,860,728
Over-Allotment Option [Member]
Organization and Business Operations (Details) [Line Items]
Aggregate warrants (in Shares)	4,089,611
Issuance of stock (in Shares)			4,500,000
Purchase units (in Shares)			4,500,000
Private Placement Warrants [Member]
Organization and Business Operations (Details) [Line Items]
Aggregate warrants (in Shares)			5,945,281
Gross proceeds			$ 8,917,922
Price per share (in Dollars per share)			$ 1.5
Class A Common Stock [Member]
Organization and Business Operations (Details) [Line Items]
Common stock, description	Each Unit consists of one share of Class A common stock, par value $0.0001 per share, and one-third of one redeemable warrant of the Company (“Public Warrant”). Each whole Public Warrant is exercisable into one share of Class A common stock at an exercise price of $11.50 per share.
Price per share (in Dollars per share)			$ 11.5
Business Combination [Member]
Organization and Business Operations (Details) [Line Items]
Business combination agreement, description			The Sponsors have agreed that they will 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 entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 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 $10.00 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 the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 03, 2021	Jun. 15, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Significant Accounting Policies (Details) [Line Items]
Adjustment of carrying value to redemption value (in Dollars)					$ 1,320,281
Fair value per share (in Dollars per share)	$ 6.29
Aggregate amount (in Dollars)	$ 2,358,750
Shares aggregate (in Shares)	375,000
Compensation expense (in Dollars)	$ 2,358,750
Temporary equity to non- redemption					20%
Effective tax rate			(13.88%)	0%	(2.75%)	0%
Statutory tax rate					21%	9%
Founder Shares [Member]
Significant Accounting Policies (Details) [Line Items]
Share subject to forfeiture (in Shares)		1,022,403
Common Class A [Member]
Significant Accounting Policies (Details) [Line Items]
Class A common stock subject to possible redemption (in Shares)					34,089,611
Temporary equity to redemption					80%

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of additional paid in capital - Class A Common Stock Subject to Possible Redemption [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
As of beginning of the period	$ 340,908,415
Gross proceeds from IPO		$ 340,896,110
Less:
Proceeds allocated to Public Warrants		(10,002,260)
Class A common stock issuance costs		(18,299,118)
Plus:
Accretion of Redeemable Class A common stock to redemption value	1,320,281	28,313,683
Class A common stock subject to possible redemption	$ 342,228,696	$ 340,908,415

Significant Accounting Polici_5

Significant Accounting Policies (Details) - Schedule of earnings per share presented in the statements of operations - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Schedule Of Earnings Per Share Presented In The Statements Of Operations Abstract
Net income (loss)	$ 1,940,525	$ 1,481,534	$ (1,568,813)	$ 13,722,901
Less: Accretion of temporary equity to redemption value	(837,728)	(5,092)	(24,596,258)	(1,320,281)
Net income (loss) excluding accretion of temporary equity to redemption value	$ 1,102,797	$ 1,476,442	$ (26,165,071)	$ 12,402,620

Significant Accounting Polici_6

Significant Accounting Policies (Details) - Schedule of reconciliation of net the net income per common share - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Class A
Numerator:
Allocation of net income (loss) including accretion of temporary equity	$ 882,238	$ 1,181,154	$ (17,580,008)	$ 9,922,096
Deemed dividend for accretion of temporary equity to redemption value	837,728	5,092	24,596,258	1,320,281
Allocation of net income (loss)	$ 1,719,966	$ 1,186,246	$ 7,016,250	$ 11,242,377
Denominator:
Weighted-average shares outstanding (in Shares)	34,089,611	34,089,611	16,363,013	34,089,611
Basic and diluted net income (loss) per share (in Dollars per share)	$ 0.05	$ 0.03	$ 0.43	$ 0.33
Class B
Numerator:
Allocation of net income (loss) including accretion of temporary equity	$ 220,559	$ 295,288	$ (8,585,063)	$ 2,480,524
Deemed dividend for accretion of temporary equity to redemption value
Allocation of net income (loss)	$ 220,559	$ 295,288	$ (8,585,063)	$ 2,480,524
Denominator:
Weighted-average shares outstanding (in Shares)	8,522,403	8,522,403	7,990,753	8,522,403
Basic and diluted net income (loss) per share (in Dollars per share)	$ 0.03	$ 0.03	$ (1.07)	$ 0.29

Initial Public Offering (Detail

Initial Public Offering (Details) - USD ($)	1 Months Ended	7 Months Ended	9 Months Ended
	Jun. 15, 2021	Sep. 30, 2021	Sep. 30, 2022
Initial Public Offering (Details) [Line Items]
Price per unit (in Dollars per share)	$ 10
Gross proceeds (in Dollars)		$ 334,578,188
Option expired date			Jul. 26, 2021
IPO [Member]
Initial Public Offering (Details) [Line Items]
Sale of units	34,089,611
Gross proceeds (in Dollars)	$ 340,896,110
Purchase of units			4,089,611
Over-Allotment Option [Member]
Initial Public Offering (Details) [Line Items]
Sale of units	4,089,611
Purchase of units			4,500,000
Additional units			410,389
Class A Common Stock [Member]
Initial Public Offering (Details) [Line Items]
Warrants, description	Each Unit consists of one share of Class A common stock, par value $0.0001 per share, and one-third of one redeemable Public Warrant, each whole Public Warrant exercisable into one share of Class A common stock at an exercise price of $11.50 per share.

Private Placement (Details)

Private Placement (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Jun. 15, 2021
Private Placement (Details) [Line Items]
Common stock, par value		$ 10
Private Placement Warrant [Member]
Private Placement (Details) [Line Items]
Aggregate of purchased shares (in Shares)	5,945,281
Aggregate of warrants, per share	$ 1.5
Generating total proceeds (in Dollars)	$ 8,917,922
Private Placement [Member]
Private Placement (Details) [Line Items]
Additional paid in capital (in Dollars)	$ 3,686,075
Class A Common Stock [Member]
Private Placement (Details) [Line Items]
Warrant exercise price	$ 11.5
Price per share	11.5
Class B common Stock [Member]
Private Placement (Details) [Line Items]
Common stock, par value	$ 0.0001
Business Combination [Member] | Class B common Stock [Member]
Private Placement (Details) [Line Items]
Business combination or to redeem percentage	100%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)			1 Months Ended		3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Jun. 10, 2021	Feb. 18, 2021	Jun. 15, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2021
Related Party Transactions (Details) [Line Items]
Loaned amounts					$ 1,500,000	$ 1,500,000
Price per warrant (in Dollars per share)					$ 1.5	$ 1.5
Office space, secretarial and administrative services						$ 10,000
Administrative fees					$ 30,000	90,000		$ 150,000
Incurred with remaining outstanding						150,000		$ 60,000
Founder share description	Of the 8,625,000 shares of Class B common stock outstanding, an aggregate of 1,125,000 shares were subject to forfeiture to the extent that the underwriters’ Over-Allotment Option was not exercised in full or in part, so that the Sponsors will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the IPO.
Sale price per share (in Dollars per share)			$ 10
Working capital loans
Over-Allotment Option [Member]
Related Party Transactions (Details) [Line Items]
Shares of common stock (in Shares)			4,089,611
Shares subject to forfeiture (in Shares)			102,597
Class B Common Stock [Member]
Related Party Transactions (Details) [Line Items]
Common stock, shares outstanding (in Shares)	8,625,000				8,522,403	8,522,403	8,522,403	8,522,403
Sale price per share (in Dollars per share)					$ 0.0001	$ 0.0001
Class A Common Stock [Member]
Related Party Transactions (Details) [Line Items]
Common stock, shares outstanding (in Shares)
1P [Member] | Class B Common Stock [Member]
Related Party Transactions (Details) [Line Items]
Amount paid		$ 25,000
Shares of common stock (in Shares)		11,500,000
Founder Shares [Member]
Related Party Transactions (Details) [Line Items]
Outstanding shares of common stock		20%
Founder shares cancellation (in Shares)	1,437,500
Sponsors [Member]
Related Party Transactions (Details) [Line Items]
Founder shares cancellation (in Shares)				1,437,500
Aggregate loan		$ 300,000
Sponsors [Member] | Class A Common Stock [Member]
Related Party Transactions (Details) [Line Items]
Sale price per share (in Dollars per share)					$ 12	$ 12

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of fair value hierarchy of the valuation techniques - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of fair value hierarchy of the valuation techniques [Line Items]
Investments held in Trust Account – U.S. Money Market	$ 342,662,791	$ 340,908,415
Public Warrant liability	1,022,958	9,774,935
Private Placement Warrants liability
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of fair value hierarchy of the valuation techniques [Line Items]
Investments held in Trust Account – U.S. Money Market
Public Warrant liability
Private Placement Warrants liability	535,075	5,112,942
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of fair value hierarchy of the valuation techniques [Line Items]
Investments held in Trust Account – U.S. Money Market
Public Warrant liability
Private Placement Warrants liability

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	1 Months Ended	9 Months Ended
	Jun. 15, 2021	Sep. 30, 2022
Commitments and Contingencies (Details) [Line Items]
Shares purchased	4,089,611
Additional units		410,389
Option expire date		Jul. 26, 2021
Underwriting discount percentage		2%
Offering expenses (in Dollars)		$ 500,000
Over-Allotment Option [Member]
Commitments and Contingencies (Details) [Line Items]
Shares purchased		4,500,000
IPO [Member]
Commitments and Contingencies (Details) [Line Items]
Shares purchased		4,089,611
Gross proceeds (in Dollars)		$ 6,817,922
Deferred underwriting commission percentage		3.50%

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit) (Details) - $ / shares				1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 10, 2021	Mar. 31, 2021	Feb. 18, 2021	Jun. 15, 2021	Sep. 30, 2022	Dec. 31, 2021
Stockholders’ Equity (Deficit) (Details) [Line Items]
Preferred stock shares authorized					1,000,000	1,000,000
Preferred stock par value (in Dollars per share)					$ 0.0001	$ 0.0001
Issued and outstanding, description			11,500,000
Founder shares, description	Of the 8,625,000 shares of Class B common stock outstanding, an aggregate of 1,125,000 shares were subject to forfeiture to the extent that the underwriters’ Over-Allotment Option was not exercised in full or in part, so that the Sponsors will own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the IPO.
Founder Shares [Member]
Stockholders’ Equity (Deficit) (Details) [Line Items]
Number of surrendered shares		1,437,500
IPO [Member]
Stockholders’ Equity (Deficit) (Details) [Line Items]
Subject to forfeiture				102,597
Class A Common Stock [Member]
Stockholders’ Equity (Deficit) (Details) [Line Items]
Common stock shares authorized					380,000,000	380,000,000
Common stock par value (in Dollars per share)					$ 0.0001	$ 0.0001
Subject to possible redemption					34,089,611	34,089,611
Common stock shares issued
Common stock shares outstanding
Class B Common Stock [Member]
Stockholders’ Equity (Deficit) (Details) [Line Items]
Common stock shares authorized					20,000,000	20,000,000
Common stock par value (in Dollars per share)					$ 0.0001	$ 0.0001
Common stock shares issued					8,522,403	8,522,403
Common stock shares outstanding	8,625,000				8,522,403	8,522,403
Converted basis percentage					20%
Founder Shares [Member]
Stockholders’ Equity (Deficit) (Details) [Line Items]
Founder shares cancellation	1,437,500

Warrant Liabilities (Details)

Warrant Liabilities (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares
Warrant Liabilities (Details) [Line Items]
Warrant expire term	5 years
Warrant, description	In such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of Class A common stock equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the excess of the “fair market value” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361. The “fair market value” as used in this paragraph shall mean the volume weighted average price of the Class A common stock for the 10 trading days ending on the trading day prior to the date on which the notice of exercise is received by the warrant agent.
Business combination, description	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 the initial Business Combination at an issue price or effective issue price of less than $9.20 per common stock (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the Sponsors or its affiliates, without taking into account any Founder Shares held by the Sponsors or such 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 the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial 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 described above under “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00” and “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00” 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 described above under “— Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.
Class A Common Stock [Member]
Warrant Liabilities (Details) [Line Items]
Price per share	$ 11.5
Shares outstanding percentage	50%
Consideration receivable percentage	70%
Class A Common Stock [Member] | Exercise Price $18.00 [Member] | Private Placement Warrants [Member]
Warrant Liabilities (Details) [Line Items]
Redemption of warrants, description	Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described herein with respect to the Private Placement Warrants):    ● in whole and not in part;         ● at a price of $0.01 per warrant;         ● upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and         ● if, and only if, the closing price of the Class A common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders.
Class A Common Stock [Member] | Exercise Price $10.00 [Member] | Private Placement Warrants [Member]
Warrant Liabilities (Details) [Line Items]
Redemption of warrants, description	Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the warrants become exercisable, the Company may redeem the outstanding warrants (but not the Private Placement Warrants):  ●in whole and not in part;    ●at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the “fair market value” of the Class A common stock (as defined above) except as otherwise described below; and    ●if, and only if, the closing price of the Class A common stock equals or exceeds $10.00 per public share for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders