| Impacts and Adjustments to Financial Statements |
The below tables represent the impacts and adjustments to the financial statements:
| |
|
As previously
Reported
|
|
|
Adjustments
|
|
|
As Restated
|
|
|
Unaudited Condensed Balance sheet as of March 31, 2023
|
|
|
|
|
|
|
|
|
|
|
Deferred Underwriting Commissions
|
|
$
|
12,075,000
|
|
|
$
|
(6,037,500
|
)
|
|
$
|
6,037,500
|
|
|
Total Liabilities
|
|
$
|
23,601,871
|
|
|
$
|
(6,037,500
|
)
|
|
$
|
17,564,371
|
|
|
Accumulated Deficit
|
|
$
|
(23,452,318
|
)
|
|
$
|
6,037,500
|
|
|
$
|
(17,414,818
|
)
|
|
Total Stockholders’ Deficit
|
|
$
|
(23,451,455
|
)
|
|
$
|
6,037,500
|
|
|
$
|
(17,413,955
|
)
|
| |
|
As previously
Reported
|
|
|
Adjustments
|
|
|
As Restated
|
|
|
Unaudited Condensed Statement of Operations for the Three Months Ended March 31, 2023
|
|
|
|
|
|
|
|
|
|
|
Gain on waiver of Deferred Underwriting Commissions
|
|
$
|
—
|
|
|
$
|
457,625
|
|
|
$
|
457,625
|
|
|
Net Income (Loss)
|
|
$
|
(1,362,536
|
)
|
|
$
|
457,625
|
|
|
$
|
(904,911
|
)
|
| |
|
As previously
Reported
|
|
|
Adjustments
|
|
|
As Restated
|
|
|
Unaudited Condensed Statements of Changes in Shareholders’ Deficit for the Three Months Ended March 31, 2023
|
|
|
|
|
|
|
|
|
|
Increase in redemption value of Class A ordinary shares subject to possible redemption
|
|
$
|
(3,767,105
|
)
|
|
$
|
5,579,875
|
|
|
$
|
1,812,770
|
|
|
Accumulated Deficit
|
|
$
|
(23,452,318
|
)
|
|
$
|
6,037,500
|
|
|
$
|
(17,414,818
|
)
|
|
Total Stockholders’ Deficit
|
|
$
|
(23,451,455
|
)
|
|
$
|
6,037,500
|
|
|
$
|
(17,413,955
|
)
|
| |
|
As previously
Reported
|
|
|
Adjustments
|
|
|
As Restated
|
|
|
Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2023
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(1,362,536
|
)
|
|
$
|
457,625
|
|
|
$
|
(904,911
|
)
|
|
Gain on waiver of Deferred Underwriting Commissions
|
|
$
|
—
|
|
|
$
|
(457,625
|
)
|
|
$
|
(457,625
|
)
|
Additionally, due the
recording of the gain on the waiver of deferred underwriting commissions, earnings per share was impacted. The impacts to earnings per share are shown below:
| |
|
As previously
Reported
|
|
|
Adjustments
|
|
|
As Restated
|
|
|
Earnings per Share for the Three Months Ended March 31, 2023
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding, Class A ordinary shares
|
|
|
28,876,180
|
|
|
|
-
|
|
|
|
28,876,180
|
|
|
Basic and diluted net loss per share, Class A ordinary shares
|
|
$
|
(0.04
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.02
|
)
|
|
Weighted average shares outstanding, Class B ordinary shares
|
|
|
8,625,000
|
|
|
|
-
|
|
|
|
8,625,000
|
|
|
Basic and diluted net loss per share, Class B ordinary shares
|
|
$
|
(0.04
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.02
|
)
|
|