Registration of securities issued in business combination transactions

FAIR VALUE MEASUREMENTS (Tables)

v3.22.2.2
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
FAIR VALUE MEASUREMENTS    
Schedule of company's assets that are measured at fair value on a recurring basis

September 30, 

     

December 31,

Description

    

Level

    

2022

2021

Assets:

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

1

116,831,001

116,160,281

Liabilities:

  

Warrant Liability – Public Warrants

1

1,092,500

2,817,500

Warrant Liability – Private Placement Warrants

2

773,300

1,994,300

Warrant Liability – Representative Warrants

3

19,000

49,000

December 31, 

Description

    

Level

    

2021

Assets:

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

1

$

116,160,281

Liabilities:

  

Warrant Liabilities – Public Warrants

1

2,817,500

Warrant Liabilities – Private Placement Warrants

2

1,994,300

Warrant Liabilities – Representative Warrants

3

49,000

Schedule of quantitative information regarding Level 3 fair value measurements inputs

March 31, 2022

June 30, 2022

September 30, 2022

    

Representative

    

Private

    

Representative

    

Private

Representative

Private

Input

Warrants

Warrants

Warrants

Warrants

Warrants

    

Warrants

Market price of public stock

$

9.88

$

$

9.89

$

$

9.95

$

Risk-free rate

2.44

%

 

%

2.98

%

 

4.12

%  

Dividend Yield

0.00

%

 

%

0.00

%

 

0.00

%  

Exercise price

$

11.50

$

$

11.50

$

$

11.50

$

Effective expiration date

6/23/26

 

6/23/26

 

8/26/26

One-touch hurdle

$

$

$

$

$

$

February 11, 2021

 

(Initial Measurement)

December 31, 2021

 

    

Public

    

Private

    

Representative

    

Representative

    

Private

 

Input

Warrants

Warrants

Warrants

Warrants

Warrants

 

Market price of public stock

$

9.54

$

9.54

$

9.54

$

9.79

$

9.79

Risk-free rate

 

0.52

%  

 

0.52

%  

0.36

%  

 

1.18

%  

 

1.18

%

Dividend Yield

 

0.00

%  

 

0.00

%  

0.00

%  

 

0.00

%  

 

0.00

%

Exercise price

$

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

One-touch hurdle

$

18.15

$

$

$

$

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

(1,587,300)

(1,437,500)

17,500

(3,007,300)

Transfer to Level 1

(3,852,500)

(3,852,500)

Transfer to Level 2

(2,197,800)

(2,197,800)

Fair value as of September 30, 2021

$

$

$

54,000

$

54,000

    

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

Change in valuation inputs or other assumptions

(14,000)

(14,000)

Fair value as of June 30, 2022

18,000

18,000

Change in valuation inputs or other assumptions

1,000

1,000

Fair value as of September 30, 2022

$

19,000

$

19,000

    

Private Placement

    

Public

    

Representative

    

Warrant Liabilities

Fair value as of January 1, 2021

 

$

 

$

$

$

Initial measurement on February 11th, 2021

3,785,100

5,290,000

36,500

9,111,600

Change in valuation inputs or other assumptions

(1,587,300)

(1,437,500)

12,500

(3,012,300)

Transfer to Level 1

(3,852,500)

(3,852,500)

Transfer to Level 2

(2,197,800)

(2,197,800)

Fair value as of December 31, 2021

$

$

$

49,000

$

49,000