Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2022
FAIR VALUE MEASUREMENTS  
Schedule of company's assets that are measured at fair value on a recurring basis

March 31, 

     

December 31,

Description

    

Level

    

2022

2021

Assets:

Investments held in Trust Account – U.S. Treasury Securities Money Market Fund

1

116,170,636

116,160,281

Liabilities:

  

Warrant Liability – Public Warrants

1

1,840,000

2,817,500

Warrant Liability – Private Placement Warrants

2

1,302,400

1,994,300

Warrant Liability – Representative Warrants

3

32,000

49,000

Schedule of quantitative information regarding Level 3 fair value measurements inputs

February 11, 2021

 

(Initial Measurement)

December 31, 2021

March 31, 2022

 

    

Public

    

Private

    

Representative

    

Public

    

Private

    

Representative

    

Representative

    

Private

 

Input

Warrants

Warrants

Warrants

Warrants

Warrants

Warrants

Warrants

Warrants

 

Market price of public stock

$

9.54

$

9.54

$

9.54

$

9.79

$

9.79

$

9.79

$

9.88

$

Risk-free rate

 

0.52

%

 

0.52

%

0.36

%

 

1.18

%

 

1.18

%

1.18

 

2.44

%

 

%

Dividend Yield

 

0.00

%

 

0.00

%

0.00

%

 

0.00

%

 

0.00

%

0.00

 

0.00

%

 

%

Exercise price

$

11.50

$

11.50

$

11.50

$

11.50

$

11.50

$

11.50

$

11.50

$

Effective expiration date

 

6/26/26

 

6/26/26

5/11/25

 

6/23/26

 

6/23/26

6/23/26

 

6/23/26

 

One-touch hurdle

$

18.15

$

$

$

18.53

$

$

18.53

$

$

Schedule of change in the fair value of the warrant liabilities

The following table presents the changes in the fair value of Level 3 warrant liabilities:

    

Private Placement

    

Public

    

Representative

    

Warrant Liabilities

Fair value as of January 1, 2021

 

$

 

$

$

$

Initial measurement on February 11, 2021

3,785,100

5,290,000

36,500

9,111,600

Change in valuation inputs or other assumptions

(1,730,400)

(2,357,500)

(19,000)

(4,106,900)

Transfer to Level 1

(2,054,700)

(2,932,500)

(4,987,200)

Fair value as of March 31, 2021

$

$

$

17,500

$

17,500

    

    

   

Representative

   

Warrant Liabilities

Fair value as of January 1, 2022

$

49,000

$

49,000

Change in valuation inputs or other assumptions

(17,000)

(17,000)

Fair value as of March 31, 2022

$

32,000

$

32,000