Banyan Acquisition Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Common stock subject to possible redemption (Details)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Common stock subject to possible redemption (Details) - Class A Common Stock Subject to Possible Redemption - USD ($)		3 Months Ended		6 Months Ended	12 Months Ended
	Apr. 21, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Gross proceeds from initial public offering					$ 241,500,000
Fair value allocated to public warrants					(7,498,575)
Offering costs allocated to Class A common stock subject to possible redemption					(14,647,648)
Remeasurement on Class A common stock subject to possible redemption		$ 1,082,415	$ 813,105		30,973,080
Redemption of Class A common stock	$ (210,031,815)	(210,031,815)		$ (210,031,815)
Beginning balance		251,139,962	250,326,857	250,326,857
Ending balance	$ 3,998,687	$ 42,190,562	$ 251,139,962	$ 42,190,562	$ 250,326,857

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details