Banyan Acquisition Corporation Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

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		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 21, 2023
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
Temporary equity, carrying amount	$ 42,190,562	$ 251,139,962	$ 250,326,857	$ 3,998,687

- 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