General form of registration statement for all companies including face-amount certificate companies

Fair Value Measurements (Tables)

v3.22.4
Fair Value Measurements (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Fair Value Disclosures [Abstract]    
Schedule of financial assets and liabilities that are measured at fair value
Description   Quoted
Prices in
Active
Markets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Other
Unobservable
Inputs
(Level 3)		  
Assets:                  
Money Market Fund   $ 231,047,192     $
               -
     $
-
  
Liabilities:                        
Derivative warrant liabilities - Public Warrants   $ 1,266,670     $
-
     $
-
  
Derivative warrant liabilities - Private Warrants   $
-
     $
-
     $ 733,330  

 

Description   Quoted
Prices in
Active
Markets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Other
Unobservable
Inputs
(Level 3)		  
Assets:                  
Money Market Fund   $ 230,003,947     $
                  -
     $
-
  
Liabilities:                        
Derivative warrant liabilities - Public Warrants   $ 4,523,330     $
-
     $
-
  
Derivative warrant liabilities - Private Warrants   $
-
     $
-
     $ 2,900,000  

 
Description   Quoted
Prices in Active
Markets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Other
Unobservable
Inputs
(Level 3)		  
Assets:                  
Money Market Fund   $ 230,003,947     $          —     $       —  
Liabilities:                        
Derivative warrant liabilities – Public Warrants   $ 4,523,330     $ —     $ —  
Derivative warrant liabilities – Private Warrants   $ —     $ —     $ 2,900,000  

 

Description   Quoted
Prices in Active
Markets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		     Significant
Other
Unobservable
Inputs
(Level 3)		  
Assets:                  
Money Market Fund   $ 230,007,668     $          —     $          —  
Liabilities:                        
Derivative warrant liabilities – Public Warrants   $ —     $ —     $ 11,883,330  
Derivative warrant liabilities – Private Warrants   $ —     $ —     $ 7,733,330  

 
Schedule of quantitative information regarding Level 3 fair value measurements inputs
    As of
September 30,
2022		     As of
December 31,
2021		  
Volatility     2.4 %     10.7 %
Stock price   $ 9.95     $ 9.80  
Expected life of the options to convert     3.81       5.00  
Risk-free rate     4.17 %     1.31 %
Dividend yield     0.0 %                  0.0 %

 
    As of December 31,
2021		     As of December 31,
2020		  
Volatility     10.7 %     21.0 %
Stock price   $ 9.80     $ 10.12  
Expected life of the options to convert     5.00       6.00  
Risk-free rate     1.31 %     0.51 %
Dividend yield     0.0 %     0.0 %

 
Schedule of changes in the fair value of the Level 3 derivative warrant liabilities
    Private
Warrants		     Public
Warrants		  
Derivative warrant liabilities at January 1, 2021   $ 7,733,337     $ 11,883,330  
Transfer from Level 3    
-
       (11,883,330 )
Change in fair value of derivative warrant liabilities     (3,528,337 )    
-
  
Derivative warrant liabilities at September 30, 2021   $ 4,205,000     $
-
  
                 
Derivative warrant liabilities at January 1, 2022   $ 2,900,000     $
-
  
Change in fair value of derivative warrant liabilities     (2,126,670 )    
-
  
Derivative warrant liabilities at September 30, 2022   $ 773,330     $
-
  
    Private
Warrants		     Public
Warrants		  
Derivative warrant liabilities at August 6, 2020 (inception)    
—
      
—
  
Issuance of Public and Private Warrants     6,331,670       9,813,330  
Change in fair value of derivative warrant liabilities     1,401,667       2,070,000  
Derivative warrant liabilities at January 1, 2021   $ 7,733,337     $ 11,883,330  
Transfer from Level 3    
—
       (11,883,330 )
Change in fair value of derivative warrant liabilities     (4,833,337 )    
—
  
Derivative warrant liabilities at December 31, 2021   $ 2,900,000     $
—