Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash $ 358,560 $ 510,893
Prepaid expenses - current 191,572 256,157
Total Current Assets 550,132 767,050
Noncurrent assets:    
Treasury securities held in trust account 42,190,562 250,326,857
Prepaid expenses - noncurrent   12,764
Total Noncurrent Assets 42,190,562 250,339,621
Total Assets 42,740,694 251,106,671
Current liabilities:    
Accrued expenses 2,547,000  
Income tax payable 255,326 783,546
Accrued franchise tax expense 19,178 193,490
Excise tax liability 2,100,318  
Promissory notes - related parties 400,000  
Accounts payable 252,767 244,891
Total Current Liabilities 5,574,589 1,221,927
Noncurrent liabilities:    
Warrant liability 5,276,500 599,875
Deferred underwriter's fee payable 3,622,500 9,660,000
Total Noncurrent Liabilities 8,899,000 10,259,875
Total Liabilities 14,473,589 11,481,802
Commitments and Contingencies
Stockholders' Deficit:    
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; none issued and outstanding
Accumulated deficit (13,924,182) (10,702,713)
Total Stockholders' Deficit (13,923,457) (10,701,988)
Total Liabilities, Redeemable Class A Common Stock and Stockholders' Deficit 42,740,694 251,106,671
Class A common stock    
Stockholders' Deficit:    
Common stock 200  
Class A Common Stock Subject to Possible Redemption    
Redeemable Class A Common Stock    
Class A common stock, $0.0001 par value; 240,000,000 shares authorized; 3,998,687 and 24,150,000 shares issued and outstanding subject to possible redemption as of June 30, 2023 and December 31, 2022, respectively 42,190,562 250,326,857
Class B common stock    
Stockholders' Deficit:    
Common stock $ 525 $ 725