Annual report pursuant to Section 13 and 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 610,971 $ 1,366,553
Prepaid insurance and other current assets 345,166 427,481
Total current assets 956,137 1,794,034
Prepaid insurance - noncurrent 343,952
Investments and cash held in trust account 204,641,162 201,951,985
TOTAL ASSETS 205,597,299 204,089,971
Current liabilities:    
Accounts payable 81,076 5,554
Accrued expenses 181,633 153,803
Accrued contingent legal costs 2,066,035 1,289,149
Due to Sponsor 37,628 66,017
Total current liabilities 2,366,372 1,514,523
Warrant liabilities 3,039,391 9,498,099
Deferred underwriting fee payable 6,998,336
Total Liabilities 5,405,763 18,010,958
Class A ordinary shares subject to possible redemption; 19,995,246 shares at redemption value of $10.23 per share and $10.10 per share at December 31, 2022 and 2021, respectively 204,541,163 201,951,985
Shareholders’ Deficit:    
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital 2,634,528
Accumulated deficit (6,984,655) (15,873,472)
Total Shareholders’ Deficit (4,349,627) (15,872,972)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 205,597,299 204,089,971
Class A Ordinary Shares [Member]    
Shareholders’ Deficit:    
Ordinary shares
Class B Ordinary Shares [Member]    
Shareholders’ Deficit:    
Ordinary shares $ 500 $ 500