$COCH
Envoy Medical, Inc.

2023 Q2 Form 10-Q Financial Statement

#000141057823001937 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue $162.0K
YoY Change
Gross Profit -$162.0K
YoY Change
Gross Profit Margin
Selling, General & Admin $2.228M
YoY Change
% of Gross Profit
Research & Development $2.153M
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $98.60K
YoY Change -89.06%
Operating Profit -$98.60K
YoY Change -89.06%
Interest Expense $383.5K
YoY Change -90.48%
% of Operating Profit
Other Income/Expense, Net -$1.302M
YoY Change -1950.65%
Pretax Income -$1.017M
YoY Change -131.79%
Income Tax $121.2K
% Of Pretax Income
Net Earnings -$1.138M
YoY Change -136.83%
Net Earnings / Revenue
Basic Earnings Per Share -$1.31
Diluted Earnings Per Share -$0.08
COMMON SHARES
Basic Shares Outstanding 10.12M shares
Diluted Shares Outstanding 10.12M shares

Balance Sheet

Concept 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $132.8K
YoY Change -72.16%
Cash & Equivalents $132.8K
Short-Term Investments
Other Short-Term Assets $264.9K
YoY Change -42.87%
Inventory
Prepaid Expenses $264.9K
Receivables
Other Receivables
Total Short-Term Assets $397.7K
YoY Change -57.72%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $44.65M
YoY Change -89.51%
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $44.65M
YoY Change -89.53%
TOTAL ASSETS
Total Short-Term Assets $397.7K
Total Long-Term Assets $44.65M
Total Assets $45.04M
YoY Change -89.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.432M
YoY Change 61.83%
Accrued Expenses $5.124M
YoY Change 85.54%
Deferred Revenue
YoY Change
Short-Term Debt $2.690M
YoY Change 79.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.347M
YoY Change 77.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $11.89M
YoY Change -34.22%
Total Long-Term Liabilities $11.89M
YoY Change -34.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.347M
Total Long-Term Liabilities $11.89M
Total Liabilities $21.24M
YoY Change -8.96%
SHAREHOLDERS EQUITY
Retained Earnings -$20.79M
YoY Change -3.09%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$20.79M
YoY Change
Total Liabilities & Shareholders Equity $45.04M
YoY Change -89.46%

Cashflow Statement

Concept 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.138M
YoY Change -136.83%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$678.9K
YoY Change 69.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $252.0K
YoY Change
Cash From Investing Activities $252.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 455.7K
YoY Change -39.24%
NET CHANGE
Cash From Operating Activities -678.9K
Cash From Investing Activities 252.0K
Cash From Financing Activities 455.7K
Net Change In Cash 28.75K
YoY Change -91.78%
FREE CASH FLOW
Cash From Operating Activities -$678.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
dei Entity Central Index Key
EntityCentralIndexKey
0001840877
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Amendment Flag
AmendmentFlag
false
anzuu Transition Report
TransitionReport
false
anzuu Redemption Of Shares Calculated Based On Number Of Business Days Prior To Consummation Of Business Combination
RedemptionOfSharesCalculatedBasedOnNumberOfBusinessDaysPriorToConsummationOfBusinessCombination
P2D
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-40133
dei Entity Registrant Name
EntityRegistrantName
Anzu Special Acquisition Corp I
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-1369123
dei Entity Address Address Line1
EntityAddressAddressLine1
12610 Race Track Road
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 250
dei Entity Address City Or Town
EntityAddressCityOrTown
Tampa
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33626
dei City Area Code
CityAreaCode
202
dei Local Phone Number
LocalPhoneNumber
742-5870
dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
true
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132773
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
107773
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
264924
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
112649
CY2023Q2 us-gaap Assets Current
AssetsCurrent
397697
CY2022Q4 us-gaap Assets Current
AssetsCurrent
220422
CY2023Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
44645404
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
430047193
CY2022Q4 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
353731
CY2023Q2 us-gaap Assets
Assets
45043101
CY2022Q4 us-gaap Assets
Assets
430621346
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1431573
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1177546
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5123818
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3945680
CY2023Q2 anzuu Working Capital Loan
WorkingCapitalLoan
2690000
CY2022Q4 anzuu Working Capital Loan
WorkingCapitalLoan
1500000
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
102061
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
686530
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
9347452
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7309756
CY2023Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
144770
CY2023Q2 anzuu Deferred Underwriters Discount
DeferredUnderwritersDiscount
10412500
CY2022Q4 anzuu Deferred Underwriters Discount
DeferredUnderwritersDiscount
10412500
CY2023Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
1333334
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
1066667
CY2023Q2 us-gaap Liabilities
Liabilities
21238056
CY2022Q4 us-gaap Liabilities
Liabilities
18788923
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-20791422
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17915833
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-20790359
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-17914770
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
45043101
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
430621346
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
98596
CY2022Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
901356
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
2591177
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
2390442
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-98596
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-901356
us-gaap Operating Income Loss
OperatingIncomeLoss
-2591177
us-gaap Operating Income Loss
OperatingIncomeLoss
-2390442
CY2023Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
528297
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
563376
us-gaap Investment Income Interest
InvestmentIncomeInterest
3898569
us-gaap Investment Income Interest
InvestmentIncomeInterest
603786
CY2023Q2 anzuu Change In Fair Value Of Forward Purchase Agreements
ChangeInFairValueOfForwardPurchaseAgreements
1035264
CY2022Q2 anzuu Change In Fair Value Of Forward Purchase Agreements
ChangeInFairValueOfForwardPurchaseAgreements
-70348
anzuu Change In Fair Value Of Forward Purchase Agreements
ChangeInFairValueOfForwardPurchaseAgreements
353731
anzuu Change In Fair Value Of Forward Purchase Agreements
ChangeInFairValueOfForwardPurchaseAgreements
416901
CY2023Q2 anzuu Prepaid Forward Derivative Liabilities
PrepaidForwardDerivativeLiabilities
144770
anzuu Prepaid Forward Derivative Liabilities
PrepaidForwardDerivativeLiabilities
144770
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
266667
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-3466666
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
266667
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-17863972
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1017000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3199034
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
542224
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
15660415
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
121245
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
108315
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
962768
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
108315
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1138245
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
3090719
us-gaap Net Income Loss
NetIncomeLoss
-420544
us-gaap Net Income Loss
NetIncomeLoss
15552100
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-17914770
CY2023Q1 us-gaap Profit Loss
ProfitLoss
717701
CY2023Q1 anzuu Increase In Redemption Value Of Class Common Stock Subject To Redemption Due To Deemed Dividend
IncreaseInRedemptionValueOfClassCommonStockSubjectToRedemptionDueToDeemedDividend
2025746
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-19222815
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-1138245
CY2023Q2 anzuu Increase In Redemption Value Of Class Common Stock Subject To Redemption Due To Deemed Dividend
IncreaseInRedemptionValueOfClassCommonStockSubjectToRedemptionDueToDeemedDividend
429299
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-20790359
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-36713524
CY2022Q1 us-gaap Profit Loss
ProfitLoss
12461381
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-24252143
CY2022Q2 us-gaap Profit Loss
ProfitLoss
3090719
CY2022Q2 anzuu Increase In Redemption Value Of Class Common Stock Subject To Redemption Due To Deemed Dividend
IncreaseInRedemptionValueOfClassCommonStockSubjectToRedemptionDueToDeemedDividend
290817
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-21452241
us-gaap Profit Loss
ProfitLoss
-420544
us-gaap Profit Loss
ProfitLoss
15552100
anzuu Amortization Of Prepaid Assets
AmortizationOfPrepaidAssets
509158
anzuu Amortization Of Prepaid Assets
AmortizationOfPrepaidAssets
175791
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
266667
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-17863972
anzuu Fair Value Adjustment Forward Purchase Agreements
FairValueAdjustmentForwardPurchaseAgreements
-498501
anzuu Fair Value Adjustment Forward Purchase Agreements
FairValueAdjustmentForwardPurchaseAgreements
-416901
us-gaap Investment Income Interest
InvestmentIncomeInterest
3898569
us-gaap Investment Income Interest
InvestmentIncomeInterest
603786
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
661433
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-73791
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
254027
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
265849
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-584468
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
108315
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
1178139
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
702114
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2858522
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1172897
anzuu Proceeds From Withdrawal For Redemption Investment Of Funds In Trust Account
ProceedsFromWithdrawalForRedemptionInvestmentOfFundsInTrustAccount
387606836
anzuu Proceeds From Withdrawal For Payment Of Taxes In Trust Account
ProceedsFromWithdrawalForPaymentOfTaxesInTrustAccount
1693522
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
389300358
anzuu Proceeds From Note Payable And Advances From Working Capital Loan Related Party
ProceedsFromNotePayableAndAdvancesFromWorkingCapitalLoanRelatedParty
1190000
anzuu Proceeds From Note Payable And Advances From Working Capital Loan Related Party
ProceedsFromNotePayableAndAdvancesFromWorkingCapitalLoanRelatedParty
1500000
anzuu Redemption Of Common Stock
RedemptionOfCommonStock
387606836
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-386416836
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1500000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
327103
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107773
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149845
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
132773
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
476948
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1693522
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 - Organization and Business Operations</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Organization and General</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Anzu Special Acquisition Corp I (the “Company”) is a blank check company incorporated as a Delaware corporation on December 28, 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Since completing the Company’s initial public offering (the “IPO” or the “Initial Public Offering”), the Company has reviewed, and continues to review, a number of opportunities to enter into a Business Combination with an operating business, but the Company is not able to determine at this time whether it will complete a Business Combination with any of the target businesses that the Company has reviewed or with any other target business. The Company intends to effectuate a Business Combination using cash from the proceeds of the IPO and the sale of the Private Placement Warrants (as defined below), the Company’s capital stock, debt, or a combination of cash, stock and debt.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">As of June 30, 2023, the Company had not commenced any operations. All activity through June 30, 2023 relates to the Company’s formation and the IPO described below, and, subsequent to the IPO, identifying a target company for a Business Combination. The Company does not expect to generate any operating revenues until after the completion of a Business Combination. The Company generates non-operating income in the form of interest income on proceeds from the IPO held in the Trust Account (as defined below).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s sponsor is Anzu SPAC GP I LLC, a Delaware limited liability company (the “Sponsor”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Financing</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On March 4, 2021, the Company consummated the IPO of 42,000,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units, the “public shares”) and, on April 14, 2021, the Company issued an additional 500,000 Units in connection with the underwriters’ partial exercise of their over-allotment option. Each Unit consists of one share of the Company’s Class A common stock, par value $0.0001 per share, and <span style="-sec-ix-hidden:Hidden_3crapMjMy0WpVT-hrs1d-w;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">one</span></span>-third of <span style="-sec-ix-hidden:Hidden_7vlMEo9juU6vZ9QHPSIzbw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">one</span></span> warrant (the “Public Warrants”) of the Company, with each whole warrant entitling the holder thereof to purchase one whole share of Class A common stock at a price of $11.50 per share, subject to certain adjustments. The Units were sold at a price of $10.00 per unit, generating aggregate gross proceeds to the Company of $425,000,000 (see Note 3 and Note 7).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Simultaneously with the closing of the IPO, the Company completed the private sale (the “Private Placement”) of 12,400,000 warrants (the “Private Placement Warrants”) to the Sponsor and, on April 14, 2021, simultaneously with the closing of the underwriters’ over-allotment option, the Company issued an additional 100,000 Private Placement Warrants to the Sponsor. The Private Placement Warrants were sold at a price of $1.00 per Private Placement Warrant, generating aggregate gross proceeds of $12,500,000. Transaction costs of the IPO prior to the underwriters’ partial exercise of their over-allotment option amounted to $23,731,835, consisting of $8,400,000 of underwriting commissions, $14,700,000 of deferred underwriters’ commissions and $631,835 of other offering costs. Offering costs associated with the closing of the underwriters’ over-allotment option on April 14, 2021 amounted to $280,500, consisting of $100,000 of underwriting commissions, $175,000 of deferred underwriters’ commissions and $5,500 of other offering costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Trust Account</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Following the closing of the IPO on March 4, 2021, $420,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the IPO and the sale of the Private Placement Warrants was placed in a U.S. based trust account (the “Trust Account”). Following the closing of the underwriters’ over-allotment option on April 14, 2021, an additional $5,000,000 ($10.00 per Unit) from the net proceeds of the sale of the additional Units and Private Placement Warrants was placed in the Trust Account. The funds in the Trust Account are invested in a money market fund investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended. The Company will not be permitted to withdraw any of the principal or interest held in the Trust Account except for the withdrawal of interest to pay taxes, if any. The funds held in the Trust Account will not otherwise be released from the Trust Account until the earliest of (1) the Company’s completion of a Business Combination; (2) the redemption of any public shares properly submitted in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the public shares if the Company does not complete a Business Combination within 24 months from the closing of the IPO or (B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity; and (3) the redemption of the Company’s public shares if the Company has not completed a Business Combination by September 30, 2023 or during any Extension Period (as defined below), subject to applicable law. Based on current interest rates, the Company expects that interest earned on the Trust Account will be sufficient to pay taxes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Business Combination</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s management has broad discretion with respect to the specific application of the net proceeds from the IPO, although substantially all of the net proceeds from the IPO are intended to be generally applied toward consummating a Business Combination with (or acquisition of) a Target Business. As used herein, “Target Business” means one or more target businesses that together have an aggregate fair market value equal to at least 80% of the value of the assets held in the Trust Account (excluding taxes payable on the interest earned on the Trust Account) at the time of the signing of a definitive agreement in connection with a Business Combination. Furthermore, there is no assurance that the Company will be able to successfully effect a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company will provide its public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of a Business Combination, either (i) in connection with a stockholder meeting called to approve such Business Combination or (ii) by means of a tender offer. The public stockholders will be entitled to redeem their shares for a pro rata portion of the amount held in the Trust Account, calculated as of <span style="-sec-ix-hidden:Hidden_QfXJLdiWqUOygPIF9Qlh-Q;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">two</span></span> business days prior to the completion of a Business Combination, including any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations. The per-share amount to be distributed to the public stockholders who redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. As a result, shares of common stock were recorded at their redemption amount and classified as temporary equity upon the completion of the IPO, in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The decision as to whether the Company will seek stockholder approval of a Business Combination or will allow stockholders to sell their shares in a tender offer will be made by the Company, in its sole discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval unless a vote is required by law or stock exchange listing requirements. If the Company seeks stockholder approval, it will complete its Business Combination only if a majority of the shares of common stock voted are voted in favor of a Business Combination. However, in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001 upon consummation of a Business Combination. In such case, the Company would not proceed with the redemption of its public shares of common stock and the related Business Combination, and instead may search for an alternate Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has until September 30, 2023 or such earlier date as determined by the Company’s board of directors (or such longer period as provided in an amendment to the Company’s amended and restated certificate of incorporation approved by the Company’s stockholders (an “Extension Period”)) to complete its initial Business Combination. If the Company does not complete a Business Combination by September 30, 2023 or such earlier date as determined by the Company’s board of directors, or during any Extension Period, it shall (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible but not more than 10 business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (less up to $100,000 of interest to pay dissolution expenses and which interest shall be net of taxes payable), divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and its board of directors, liquidate and dissolve, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if it fails to complete its initial Business Combination by September 30, 2023 or such earlier date as determined by the Company’s board of directors, or during any Extension Period. The initial stockholders (the Sponsor and the three directors that hold Founder Shares (as defined in Note 5) have entered into a letter agreement with the Company, pursuant to which they have waived their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete its initial Business Combination by September 30, 2023 or such earlier date as determined by the Company’s board of directors, or during any Extension Period. However, if the initial stockholders acquire public shares, they will be entitled to liquidating distributions from the Trust Account with respect to such public shares if the Company fails to complete its initial Business Combination within the allotted time frame.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than $10.00 per public share initially held in the Trust Account.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than the Company’s independent registered public accounting firm) for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (1) $10.00 per public share or (2) such lesser amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, due to reductions in value of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, then the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to have all third parties, including, but not limited to, all vendors, service providers (other than its independent registered public accounting firm), prospective target businesses and other entities with which the Company does business execute agreements with the Company waiving any right, title, interest or claims of any kind in or to any monies held in the Trust Account.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On February 28, 2023, the Company reconvened its special meeting of stockholders, which was originally scheduled for February 9, 2023, adjourned until February 21, 2023 and further adjourned until February 28, 2023 (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved a proposal to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company has to consummate a Business Combination from March 4, 2023 to September 30, 2023 or such earlier date as determined by the Company’s board of directors (the “Extension”). Following the approval of the Extension, the Company waived its right under the amended and restated certificate of incorporation to withdraw up to $100,000 of interest from the Trust Account to pay dissolution expenses in the event of the Company’s liquidation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In connection with the Special Meeting, on March 7, 2023 stockholders holding 38,187,226 shares of the Company’s Class A common stock exercised their right to redeem their shares for a pro rata portion of the funds in the Trust Account. As a result, approximately $387.6 million (approximately $10.15 per share of Class A common stock) was removed from the Trust Account to pay such holders and approximately $44.3 million remained in the Trust Account. Following the redemptions, the Company has 4,312,774 shares of Class A common stock outstanding.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On March 21, 2023, the Company and the Sponsor amended the 2022 Promissory Note to extend the maturity date of the 2022 Working Capital Loan to the earlier of (i) December 31, 2023 or (ii) the consummation of a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On April 17, 2023, the Company entered into a business combination agreement (the “Business Combination Agreement”) with Envoy Merger Sub, Inc., a Delaware corporation and a direct wholly owned subsidiary of the Company (“Merger Sub”), and Envoy Medical Corporation, a Minnesota Corporation (“Envoy”), a U.S.-based medical device company that has developed and is in early clinical testing of an implanted device that already received “Breakthrough Device Designation” from the Food and Drug Administration. The transactions contemplated by the Business Combination Agreement are referred to herein as the “Proposed Business Combination.”</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the terms of the Business Combination Agreement, Merger Sub will merge with and into Envoy, the separate corporate existence of Merger Sub will cease and Envoy will be the surviving corporation and wholly owned, privately-held subsidiary of the Company (the “Merger”). The Company will change its name to “Envoy Medical, Inc.”, which will continue as the surviving public corporation after the closing of the Proposed Business Combination (the “Closing”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">As a result of the Merger, among other things, (a) each share of Envoy common stock, par value $0.01 per share (the “Envoy common stock”), issued and outstanding (including Envoy common stock issued upon the exercise or conversion of Envoy warrants, Envoy convertible notes or Envoy preferred stock) shall be canceled and converted into the right to receive a number of shares of Class A common stock equal to the exchange ratio (as calculated pursuant to the Business Combination Agreement), amounting to aggregate closing Merger consideration of 15 million shares of Class A Common Stock (subject to adjustment as provided in the Business Combination Agreement); (b) each outstanding option to purchase shares of Envoy common stock will be cancelled in exchange for nominal consideration; (c) immediately prior to the effective time of the Merger, each outstanding Envoy warrant will automatically, depending on the applicable exercise price, be canceled or exercised on a net exercise basis and converted into shares of Envoy common stock in accordance with its terms; and (d) immediately prior to the effective time of the Merger, each outstanding Envoy convertible note will automatically be converted into shares of Envoy common stock in accordance with its terms.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Risks and Uncertainties</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy is not determinable as of the date of these unaudited condensed financial statements. The specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited condensed financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On March 10, 2023, Silicon Valley Bank became insolvent. State regulators closed the bank, and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as its receiver. The Company held deposits with this bank. As a result of the actions by the FDIC, the Company’s insured and uninsured deposits have been restored.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Going Concern</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">As of June 30, 2023 and December 31, 2022, the Company had $132,773 and $107,773 in its operating bank accounts, respectively, and working capital deficits of $8,949,755 and $7,089,334, respectively. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Prior to the completion of the Initial Business Combination, the Company’s liquidity needs had been satisfied through a contribution of $25,000 from Sponsor to cover certain formation and offering costs in exchange for the issuance of the Founder Shares (as defined in Note 5), the loan of up to $300,000 from the Sponsor pursuant to the Note (see Note 5), and the proceeds from the consummation of the Private Placement not held in the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (see Note 5). As of June 30, 2023 and December 31, 2022, there were amounts of $2,690,000 and $1,500,000 outstanding under the Working Capital Loans, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company may need to raise additional funds through loans from its Sponsor and/or third parties in order to meet the expenditures required for operating its business. If the Company’s estimate of the costs of undertaking in-depth due diligence and negotiating the initial business combination is less than the actual amount necessary to do so, the Company may have insufficient funds available to operate its business prior to the initial business combination. The Sponsor is not under any obligation to advance funds to, or to invest in, the Company. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of its business plan, and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. If a Business Combination is not consummated by September 30, 2023 or such earlier date as determined by the Company’s board of directors, or during any Extension Period, there will be a mandatory liquidation and subsequent dissolution of the Company. Mandatory liquidation and liquidity condition raise substantial doubt about the Company’s ability to continue as a going concern through one year from the date of these financial statements if a Business Combination is not consummated. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The Company’s management plans to complete a Business Combination prior to the mandatory liquidation date and expects to receive financing to meet its obligations through the time of liquidation; however, no financing is currently committed. The unaudited condensed financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.</p>
CY2020Q4 anzuu Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
anzuu Redemption Percentage Required If Business Combination Is Not Completed By Specified Date
RedemptionPercentageRequiredIfBusinessCombinationIsNotCompletedBySpecifiedDate
1
anzuu Duration Of Business Combination Period
DurationOfBusinessCombinationPeriod
P24M
anzuu Threshold Business Combination Fmv As Percent Of Trust Assets
ThresholdBusinessCombinationFmvAsPercentOfTrustAssets
0.80
anzuu Minimum Tangible Assets Of Target
MinimumTangibleAssetsOfTarget
5000001
anzuu Redemption Period Upon Closure
RedemptionPeriodUponClosure
P10D
anzuu Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
100000
CY2023Q1 anzuu Right To Withdraw Interest From Trust Account Waived
RightToWithdrawInterestFromTrustAccountWaived
100000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132773
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
107773
anzuu Working Capital Deficit
WorkingCapitalDeficit
8949755
CY2022 anzuu Working Capital Deficit
WorkingCapitalDeficit
7089334
anzuu Proceeds From Related Party For Expense Payments In Exchange For Shares Issued
ProceedsFromRelatedPartyForExpensePaymentsInExchangeForSharesIssued
25000
CY2023Q2 anzuu Maximum Borrowing Capacity Of Related Party Promissory Note
MaximumBorrowingCapacityOfRelatedPartyPromissoryNote
300000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Making estimates requires management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">One of the more significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the warrant liabilities. Other significant accounting estimates include the forward purchase derivative and the convertible working capital loan. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.</p>
anzuu Fair Value Measurement Transfers From To Levels
FairValueMeasurementTransfersFromToLevels
0
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the FDIC coverage limit of $250,000. The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</p>
CY2023Q2 anzuu Transaction Costs
TransactionCosts
24012335
CY2022Q4 anzuu Transaction Costs
TransactionCosts
24012335
CY2023Q2 anzuu Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
8500000
CY2022Q4 anzuu Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
8500000
CY2023Q2 anzuu Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
14875000
CY2022Q4 anzuu Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
14875000
CY2023Q2 anzuu Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
637335
CY2022Q4 anzuu Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
637335
CY2022Q3 anzuu Forgiveness Of Deferred Underwriting Fess
ForgivenessOfDeferredUnderwritingFess
4462500
CY2022Q2 anzuu Fair Value Measurement Transfers From To Levels
FairValueMeasurementTransfersFromToLevels
0
anzuu Fair Value Measurement Transfers From To Levels
FairValueMeasurementTransfersFromToLevels
0
CY2023Q2 anzuu Fair Value Measurement Transfers From To Levels
FairValueMeasurementTransfersFromToLevels
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
962768
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
108315
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.77
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0001
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.21
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q2 anzuu Working Capital Loan
WorkingCapitalLoan
2690000
CY2022Q4 anzuu Working Capital Loan
WorkingCapitalLoan
1500000
CY2023Q2 us-gaap Notes Payable
NotesPayable
734300
anzuu Waiver Of Accrued Fees And Expense
WaiverOfAccruedFeesAndExpense
286688
CY2023Q2 anzuu Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
3
CY2021Q1 anzuu Underwriter Cash Discount
UnderwriterCashDiscount
8400000
CY2021Q2 anzuu Underwriter Cash Discount
UnderwriterCashDiscount
100000
CY2023Q2 anzuu Deferred Fee Per Unit
DeferredFeePerUnit
0.35
CY2023Q2 anzuu Aggregate Deferred Underwriting Discount
AggregateDeferredUnderwritingDiscount
14875000
CY2022Q3 anzuu Forgiveness Of Deferred Underwriting Fess
ForgivenessOfDeferredUnderwritingFess
4462500
CY2023Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
4300000
CY2023Q2 anzuu Maximum Percentage Of Beneficiary Shares Owned
MaximumPercentageOfBeneficiarySharesOwned
0.099
CY2023Q2 anzuu Maximum Borrowing Capacity Of Related Party Promissory Note
MaximumBorrowingCapacityOfRelatedPartyPromissoryNote
10000000
CY2023Q2 anzuu Maximum Percentage Of Outstanding Preferred Stock
MaximumPercentageOfOutstandingPreferredStock
0.05
anzuu Temporary Equity Number Of Votes Per Share
TemporaryEquityNumberOfVotesPerShare
1
CY2022 anzuu Proceeds From Issuance Of Temporary Equity
ProceedsFromIssuanceOfTemporaryEquity
425000000
CY2022 anzuu Temporary Equity Proceeds Allocated To Warrants
TemporaryEquityProceedsAllocatedToWarrants
-14026667
CY2022 anzuu Temporary Equity Issuance Costs
TemporaryEquityIssuanceCosts
-23229523
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
37691146
CY2022 anzuu Waiver Of Class Shares Issuance Costs
WaiverOfClassSharesIssuanceCosts
4312237
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
429747193
CY2023Q1 anzuu Redemption Of Common Stock
RedemptionOfCommonStock
387606834
CY2023Q1 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
2025746
CY2023Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
44166105
CY2023Q2 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
429299
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
44595404
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
26666666
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
26666666

Files In Submission

Name View Source Status
0001410578-23-001937-index-headers.html Edgar Link pending
0001410578-23-001937-index.html Edgar Link pending
0001410578-23-001937.txt Edgar Link pending
0001410578-23-001937-xbrl.zip Edgar Link pending
anzuu-20230630.xsd Edgar Link pending
anzuu-20230630x10q.htm Edgar Link pending
anzuu-20230630xex31d1.htm Edgar Link pending
anzuu-20230630xex31d2.htm Edgar Link pending
anzuu-20230630xex32d1.htm Edgar Link pending
anzuu-20230630xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
anzuu-20230630_pre.xml Edgar Link unprocessable
anzuu-20230630_def.xml Edgar Link unprocessable
anzuu-20230630_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
anzuu-20230630_cal.xml Edgar Link unprocessable
anzuu-20230630x10q_htm.xml Edgar Link completed
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending