Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule Of Class A common stocks reflected in the condensed balance sheets are reconciled

At March 31, 2022 and December 31, 2021, the Class A common stock reflected in the condensed balance sheets are reconciled in the following table:

Gross proceeds

    

$

115,000,000

Less:

 

  

Proceeds allocated to Public Warrants

$

(5,290,000)

Class A common stock issuance at cost

$

(1,479,418)

Plus:

 

  

Accretion of carrying value to redemption value

$

7,919,418

Class A common stock subject to possible redemption

$

116,150,000

Reconciliation of net loss per common share

Basic Dilutive

Dilutive

    

Three Months Ended

Three Months Ended

    

Three Months Ended

March 31, 2022

March 31, 2021

March 31, 2021

    

Class A

    

Class B

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income per common stock

Numerator:

 

 

Allocation of net income, as adjusted

$

897,750

$

224,437

$

2,675,902

$

1,177,979

$

2,623,919

$

1,229,962

Denominator:

Basic and diluted weighted average shares outstanding

11,500,000

2,875,000

6,133,333

2,700,000

6,133,333

2,875,000

Basic and diluted net income per common stock

$

0.08

$

0.08

$

0.44

$

0.44

$

0.43

$

0.43