2023 Q4 Form 10-K Financial Statement
#000121390024025648 Filed on March 26, 2024
Income Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $1.479M | $3.730M | $458.1K |
YoY Change | 222.98% | 109.94% | 356.65% |
Operating Profit | -$3.730M | ||
YoY Change | 109.95% | ||
Interest Expense | $2.180M | $11.21M | $2.122M |
YoY Change | 2.73% | 209.68% | 400232.08% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | -$708.4K | |
YoY Change | |||
Pretax Income | $700.2K | $6.769M | $1.664M |
YoY Change | -57.91% | 267.43% | -1767.35% |
Income Tax | $458.6K | $2.325M | $462.4K |
% Of Pretax Income | 65.49% | 34.35% | 27.79% |
Net Earnings | $241.6K | $4.444M | $1.201M |
YoY Change | -79.89% | 298.26% | -1303.93% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.01 | $0.14 | $0.03 |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $29.84K | $29.84K | $72.75K |
YoY Change | -58.98% | -58.98% | -94.08% |
Cash & Equivalents | $29.84K | $72.75K | |
Short-Term Investments | |||
Other Short-Term Assets | $276.2K | $276.2K | $185.2K |
YoY Change | 49.14% | 49.14% | -54.98% |
Inventory | |||
Prepaid Expenses | $192.7K | $185.2K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $306.1K | $306.1K | $258.0K |
YoY Change | 18.64% | 18.64% | -84.26% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $165.7M | $165.7M | $254.3M |
YoY Change | -34.85% | -34.85% | 14.42% |
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $165.7M | $165.7M | $255.4M |
YoY Change | -35.14% | -35.14% | 14.26% |
TOTAL ASSETS | |||
Total Short-Term Assets | $306.1K | $306.1K | $258.0K |
Total Long-Term Assets | $165.7M | $165.7M | $255.4M |
Total Assets | $166.0M | $166.0M | $255.7M |
YoY Change | -35.09% | -35.09% | 13.54% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $114.7K | $114.7K | $111.1K |
YoY Change | 3.24% | 3.24% | |
Accrued Expenses | $967.9K | $967.9K | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $2.311M | $2.311M | $21.54K |
YoY Change | 10630.97% | 10630.97% | 30.94% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.394M | $3.394M | $492.0K |
YoY Change | 589.83% | 589.83% | 425.75% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $1.155M | $1.155M | $9.859M |
YoY Change | -88.29% | -88.29% | 11.34% |
Total Long-Term Liabilities | $1.155M | $1.155M | $9.859M |
YoY Change | -88.29% | -88.29% | 11.34% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.394M | $3.394M | $492.0K |
Total Long-Term Liabilities | $1.155M | $1.155M | $9.859M |
Total Liabilities | $4.549M | $4.549M | $10.35M |
YoY Change | -56.05% | -56.05% | 15.68% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$11.30M | -$8.502M | |
YoY Change | 32.88% | 42.18% | |
Common Stock | $98.00 | ||
YoY Change | 10.11% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $161.4M | $161.4M | -$8.501M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $166.0M | $166.0M | $255.7M |
YoY Change | -35.09% | -35.09% | 13.54% |
Cashflow Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $241.6K | $4.444M | $1.201M |
YoY Change | -79.89% | 298.26% | -1303.93% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$1.043M | -$5.082M | -$629.1K |
YoY Change | 65.85% | 198.38% | 6.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $522.5K | $99.81M | $310.9K |
YoY Change | 68.07% | -451.03% | -100.14% |
Cash From Investing Activities | $522.5K | $99.81M | $310.9K |
YoY Change | 68.07% | -451.03% | -100.14% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | -$96.79M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 525.0K | -94.77M | 0.000 |
YoY Change | -427.0% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -1.043M | -5.082M | -629.1K |
Cash From Investing Activities | 522.5K | 99.81M | 310.9K |
Cash From Financing Activities | 525.0K | -94.77M | 0.000 |
Net Change In Cash | 4.220K | -42.91K | -318.2K |
YoY Change | -101.33% | -96.29% | -126.45% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.043M | -$5.082M | -$629.1K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2022 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | |
CY2023 | dei |
Document Type
DocumentType
|
10-K | |
CY2023 | dei |
Document Annual Report
DocumentAnnualReport
|
true | |
CY2023 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-12-31 | |
CY2023 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023 | dei |
Entity File Number
EntityFileNumber
|
001-41168 | |
CY2023 | dei |
Entity Registrant Name
EntityRegistrantName
|
FTAC EMERALD ACQUISITION CORP. | |
CY2023 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2023 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
86-2170416 | |
CY2023 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
2929 Arch Street | |
CY2023 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Suite 1703 | |
CY2023 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Philadelphia | |
CY2023 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
PA | |
CY2023 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
19104 | |
CY2023 | dei |
City Area Code
CityAreaCode
|
(215) | |
CY2023 | dei |
Local Phone Number
LocalPhoneNumber
|
701-9555 | |
CY2023 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2023 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2023 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2023 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2023 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2023 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2023 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2023 | dei |
Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
|
false | |
CY2023 | dei |
Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
|
false | |
CY2023 | dei |
Entity Shell Company
EntityShellCompany
|
true | |
CY2023Q2 | dei |
Entity Public Float
EntityPublicFloat
|
257400000 | usd |
CY2023Q4 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023 | dei |
Auditor Name
AuditorName
|
WithumSmith+Brown, PC | |
CY2023 | dei |
Auditor Location
AuditorLocation
|
New York | |
CY2023 | dei |
Auditor Firm
AuditorFirmId
|
100 | |
CY2023Q4 | us-gaap |
Cash
Cash
|
29844 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
72753 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
192712 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
185213 | usd |
CY2023Q4 | emld |
Prepaid Income Taxes Current
PrepaidIncomeTaxesCurrent
|
83503 | usd |
CY2023Q4 | us-gaap |
Assets Current
AssetsCurrent
|
306059 | usd |
CY2022Q4 | us-gaap |
Assets Current
AssetsCurrent
|
257966 | usd |
CY2022Q4 | emld |
Reimbursement Receivable Non Current
ReimbursementReceivableNonCurrent
|
1155000 | usd |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
165653149 | usd |
CY2022Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
254251750 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
165959208 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
255664716 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
114659 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
111063 | usd |
CY2023Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
967916 | usd |
CY2022Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
359410 | usd |
CY2023Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3394026 | usd |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
492008 | usd |
CY2022Q4 | emld |
Deferred Underwriters Discount
DeferredUnderwritersDiscount
|
8704270 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1155000 | usd |
CY2022Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1155000 | usd |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
4549026 | usd |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
10351278 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
165721882 | usd |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
253814255 | usd |
CY2023Q4 | 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 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
6984216 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-11296875 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-8501776 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4311700 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-8500817 | usd |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
165959208 | usd |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
255664716 | usd |
CY2023 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
3730488 | usd |
CY2022 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
1776887 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3730488 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1776887 | usd |
CY2023 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
11207609 | usd |
CY2022 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3619061 | usd |
CY2023 | emld |
Nonredemption Agreement Expense
NonredemptionAgreementExpense
|
708400 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
6768721 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1842174 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2325087 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
726410 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4443634 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1115764 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5978418 | usd |
CY2022 | emld |
Sale Of Private Placement Units
SaleOfPrivatePlacementUnits
|
860810 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
454360 | usd |
CY2022 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
4953333 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1115764 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-8500817 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
|
967916 | usd |
CY2023 | emld |
Adjustments To Additional Paid In Capital Contribution For Nonredemption Agreements
AdjustmentsToAdditionalPaidInCapitalContributionForNonredemptionAgreements
|
708400 | usd |
CY2023 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
8699271 | usd |
CY2023 | emld |
Adjustments To Additional Paid In Capital In Waiver Of Deferred Underwriters Fee
AdjustmentsToAdditionalPaidInCapitalInWaiverOfDeferredUnderwritersFee
|
8704270 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4443634 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4311700 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4443634 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1115764 | usd |
CY2023 | emld |
Nonredemption Agreement Expense
NonredemptionAgreementExpense
|
708400 | usd |
CY2023 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
11207609 | usd |
CY2022 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3619061 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
7499 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-401507 | usd |
CY2023 | emld |
Increase Decrease In Prepaid Income Taxes
IncreaseDecreaseInPrepaidIncomeTaxes
|
83503 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-1155000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
290047 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
33932 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-21535 | usd |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
5084 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-359410 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
359410 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5082475 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1703364 | usd |
CY2022 | us-gaap |
Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
|
28980354 | usd |
CY2023 | emld |
Proceeds From Cash Withdrawn From Trust Account For Tax Purposes
ProceedsFromCashWithdrawnFromTrustAccountForTaxPurposes
|
3014566 | usd |
CY2022 | emld |
Proceeds From Cash Withdrawn From Trust Account For Tax Purposes
ProceedsFromCashWithdrawnFromTrustAccountForTaxPurposes
|
548195 | usd |
CY2023 | emld |
Proceedsfrom Cash Withdrawn From Trust Account In Connection With Redemption
ProceedsfromCashWithdrawnFromTrustAccountInConnectionWithRedemption
|
96791644 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
99806210 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-28432159 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
28980362 | usd |
CY2023 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
2025000 | usd |
CY2023 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
96791644 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-94766644 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
28980362 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-42909 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1155161 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
72753 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1227914 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
29844 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
72753 | usd |
CY2023 | emld |
Excise Tax On Stock Redemption
ExciseTaxOnStockRedemption
|
967916 | usd |
CY2023 | emld |
Deferred Underwriting Payable Charged To Additional Paidin Capital
DeferredUnderwritingPayableChargedToAdditionalPaidinCapital
|
8704270 | usd |
CY2022 | emld |
Deferred Underwriting Payable Charged To Additional Paidin Capital
DeferredUnderwritingPayableChargedToAdditionalPaidinCapital
|
1004270 | usd |
CY2023 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2768000 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1. ORGANIZATION AND BUSINESS OPERATIONS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FTAC Emerald Acquisition Corp. (the “Company”) is a blank check company incorporated in Delaware on February 19, 2021, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company may pursue an initial Business Combination target in any business or industry.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, the Company had not commenced any operations. All activity for the period from February 19, 2021 (inception) through December 31, 2023 relates to the Company’s formation, the Public Offering (the “Public Offering” or “IPO”), and efforts in identifying a target to consummate an initial Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Public Offering placed in the Trust Account.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s Sponsors are Emerald ESG Sponsor, LLC, a Delaware limited liability company, and Emerald ESG Advisors, LLC, a Delaware limited liability company (collectively, the “Sponsor”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The registration statement for the Company’s Public Offering was declared effective on December 15, 2021 (the “Effective Date”). On December 20, 2021, the Company consummated its Public Offering of 22,000,000 units (the “Units” and, with respect to the Class A common stock included in the Units being offered, the “public shares”) at $10.00 per Unit, which is discussed in Note 3, and the sale of 890,000 placement units (the “Private Placement Units”) at a price of $10.00 per Private Placement Unit in a private placement to the Sponsor, which is discussed in Note 4 (“Private Placement”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriter of the Company’s IPO subsequently provided notice of its election to partially exercise its over-allotment option, and the closing of the issuance and sale of the additional Units (the “Over-Allotment Option Units”) occurred on January 14, 2022. A total aggregate issuance by the Company of 2,869,342 Over-Allotment Option Units at a price of $10.00 per Over-Allotment Option Unit resulted in total gross proceeds of $28,693,420 to the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Simultaneously with the issuance and sale of the Over-Allotment Option Units, the Company consummated the private sale of an additional 86,081 Private Placement Units (the “Additional Private Placement Units”) at a price of $10.00 per Additional Private Placement Unit to the Sponsor, generating gross proceeds of $860,810.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transaction costs related to the IPO and over-allotment amounted to $14,181,568, consisting of $4,973,868 of underwriting commissions, $8,704,270 in deferred underwriting fees, and $503,430 of other offering costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company must complete one or more Business Combinations having an aggregate fair market value of at least 80% of the value of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the Company’s signing a definitive agreement in connection with the initial Business Combination. However, the Company will only complete an initial Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to successfully effect a Business Combination.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the closing of the Public Offering, the partial exercise of the over-allotment option, and the sale of the Private Placement Units, a total of $251,180,354 ($10.10 per Unit) was placed in a Trust Account (“Trust Account”). The proceeds are invested only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except for any interest income released to the Company to pay franchise and income taxes and up to $100,000 of interest to pay dissolution expenses, none of the funds held in trust will be released from the Trust Account until the earlier of (i) the consummation of the initial Business Combination; (ii) the redemption of the public shares if the Company is unable to consummate a Business Combination by December 20, 2024 (the “Completion Window”); or (iii) the redemption of any public shares properly tendered in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to provide for the redemption of the public shares in connection with an initial Business Combination or to redeem 100% of the public shares if the Company has not consummated the initial Business Combination within the Completion Window, or (B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the public stockholders.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 19, 2023, the Company held a special meeting of its stockholders (the “Meeting”) at which the Company’s stockholders approved (A) an amendment (the “Charter Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation to extend the date by which the Company has to consummate its initial business combination from September 20, 2023 to January 19, 2024 (or such earlier date as determined by the Company’s Board of Directors); and (B) an amendment (the “Trust Amendment”) to the Company’s Investment Management Trust Agreement dated December 15, 2021, with Continental Stock Transfer & Trust Company, as trustee (the “Trust Agreement”), to allow the trustee to liquidate the Trust Account established in connection with the IPO at such time as may be determined by the Company as set forth in the Charter Amendment. In connection with the Meeting the holders of 9,239,192 shares of redeemable Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.4762 per share, for an aggregate redemption amount of approximately $96,791,644. Following the redemptions, 15,630,150 shares of redeemable Class A common stock remained outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 19, 2024, the Company held a special meeting of its stockholders (the “January Meeting”) at which the Company’s stockholders approved (A) an amendment (the “January Charter Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation to extend the date by which the Company has to consummate its initial business combination from January 19, 2024 to December 20, 2024 (or such earlier date as determined by the Company’s Board of Directors); and (B) an amendment (the “January Trust Amendment”) to the Trust Agreement to allow the trustee to liquidate the Trust Account established in connection with the IPO at such time as may be determined by the Company as set forth in the January Charter Amendment. In connection with the January Meeting the holders of 10,872,266 shares of redeemable Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.6224 per share, for an aggregate redemption amount of approximately $115,489,643. Following the redemptions, 4,757,884 shares of redeemable Class A common stock remain outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Liquidity and Capital Resources</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2023, the Company had $29,844 in cash and a working capital deficit of $3,087,967. Prior to the completion of the Company’s IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $25,000 and a loan to the Company of up to $300,000 by the Company’s Sponsor under an unsecured promissory note. The outstanding balance under the promissory note of $105,260 was repaid on December 27, 2021, and the promissory note was terminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In order to finance transaction costs in connection with an intended initial 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, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company expects to repay such loaned amounts out of the proceeds of the Trust Account released to it. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. At December 31, 2023 and 2022, $2,025,000 and $0 of Working Capital Loans were outstanding, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Going Concern</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company has until December 20, 2024 to consummate a Business Combination. It is uncertain whether the Company will be able to consummate a Business Combination by this time. If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of the Company. Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. Management intends to consummate a Business Combination prior to December 20, 2024. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after December 20, 2024.</p> | |
CY2022Q1 | emld |
Units Issued During Period Shares New Issues
UnitsIssuedDuringPeriodSharesNewIssues
|
2869342 | shares |
CY2023Q4 | emld |
Transaction Costs
TransactionCosts
|
14181568 | usd |
CY2023 | emld |
Underwriting Commissions
UnderwritingCommissions
|
4973868 | usd |
CY2023 | emld |
Deferred Underwriting Fees
DeferredUnderwritingFees
|
8704270 | usd |
CY2023 | emld |
Other Offering Costs
OtherOfferingCosts
|
503430 | usd |
CY2023 | emld |
Condition For Future Business Combination Use Of Proceeds Percentage
ConditionForFutureBusinessCombinationUseOfProceedsPercentage
|
0.80 | pure |
CY2023 | emld |
Condition For Future Business Combination Threshold Percentage Ownership
ConditionForFutureBusinessCombinationThresholdPercentageOwnership
|
0.50 | pure |
CY2022Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
254251750 | usd |
CY2023 | us-gaap |
Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
|
P185D | |
CY2023 | emld |
Interest To Pay Dissolution Expenses
InterestToPayDissolutionExpenses
|
100000 | usd |
CY2023Q4 | emld |
Funds Held In Trust
FundsHeldInTrust
|
0 | usd |
CY2023Q4 | emld |
Percentage Of Public Shares Redeem
PercentageOfPublicSharesRedeem
|
1 | pure |
CY2023Q3 | emld |
Redemption Price Of Per Share
RedemptionPriceOfPerShare
|
10.4762 | |
CY2023Q3 | us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
96791644 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
115489643 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
29844 | usd |
CY2023Q4 | emld |
Working Capital
workingCapital
|
3087967 | usd |
CY2023Q4 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
300000 | usd |
CY2021Q4 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
105260 | usd |
CY2023 | emld |
Working Capital Loan Outstanding
WorkingCapitalLoanOutstanding
|
2025000 | usd |
CY2022 | emld |
Working Capital Loan Outstanding
WorkingCapitalLoanOutstanding
|
0 | usd |
CY2023 | emld |
Emerging Growth Company Status
EmergingGrowthCompanyStatus
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Emerging Growth Company</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</p> | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the financial statements in conformity with 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 financial statements and the reported amounts of expenses during the reporting periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Making estimates requires management to exercise significant judgment. 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 financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p> | |
CY2023Q4 | us-gaap |
Cash
Cash
|
29844 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
72753 | usd |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
165653149 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which at times may exceed the Federal Deposit Insurance Corporation coverage 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.</p> | |
CY2023 | us-gaap |
Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
|
250000 | usd |
CY2022Q3 | emld |
Excise Tax Rate
ExciseTaxRate
|
0.01 | pure |
CY2022Q3 | emld |
Fair Market Value Percentages
FairMarketValuePercentages
|
0.01 | pure |
CY2023Q3 | us-gaap |
Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
|
9239192 | shares |
CY2023Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
967916 | usd |
CY2023 | emld |
Excise Tax Liability Percentage
ExciseTaxLiabilityPercentage
|
0.01 | pure |
CY2022 | emld |
Gross Proceeds Including Overallotment
GrossProceedsIncludingOverallotment
|
248693420 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
8264360 | usd |
CY2022 | emld |
Temporary Equity Issuance Cost
TemporaryEquityIssuanceCost
|
13734146 | usd |
CY2022 | us-gaap |
Temporary Equity Other Changes
TemporaryEquityOtherChanges
|
27119341 | usd |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
253814255 | usd |
CY2023 | us-gaap |
Redemption Premium
RedemptionPremium
|
96791644 | usd |
CY2023 | us-gaap |
Temporary Equity Other Changes
TemporaryEquityOtherChanges
|
8699271 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
165721882 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
On June 2, 2021, the Sponsor purchased 7,992,750 shares of Class B common stock for an aggregate purchase price of $25,000, and on October 14, 2021, the Company effected a 1.1014-for-1.0 stock split, so that the Sponsor owned an aggregate of 8,803,333 shares of Class B common stock (the “Founder Shares”). | |
CY2023 | us-gaap |
Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
|
On November 12, 2021, the Company effected a 0.9955-for-1.0 stock split, so that the Sponsor owned an aggregate of 8,763,333 Founder Shares. | |
CY2023 | emld |
Founder Share Percentage
FounderSharePercentage
|
1 | pure |
CY2023 | us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
The Sponsor has agreed not to transfer, assign or sell any of its Founder Shares (i) with respect to 25% of such shares, until consummation of the initial Business Combination, (ii) with respect to 25% of such shares, until the earlier of the second anniversary of the consummation of the initial Business Combination or the first date at which the closing price of the Class A common stock exceeds $12.00 for any 20 trading days within a 30-trading day period following the consummation of the initial Business Combination, (iii) with respect to 25% of such shares, until the earlier of the second anniversary of the consummation of the initial Business Combination or the first date at which the closing price of the Class A common stock exceeds $13.50 for any 20 trading days within a 30-trading day period following the consummation of the initial Business Combination, and (iv) with respect to 25% of such shares, until the earlier of the second anniversary of the consummation of the initial Business Combination or the first date at which the closing price of the Class A common stock exceeds $15.00 for any 20 trading days within a 30-trading day period following the consummation of the initial Business Combination. | |
CY2023 | emld |
Working Capital Loans
WorkingCapitalLoans
|
2025000 | usd |
CY2022 | emld |
Working Capital Loans
WorkingCapitalLoans
|
0 | usd |
CY2023 | us-gaap |
Payments For Rent
PaymentsForRent
|
30000 | usd |
CY2023 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
360000 | usd |
CY2022 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
360000 | usd |
CY2023 | us-gaap |
Underwriting Expense Ratio
UnderwritingExpenseRatio
|
0.02 | pure |
CY2023 | emld |
Deferred Underwriting Discount
DeferredUnderwritingDiscount
|
0.035 | pure |
CY2023 | emld |
Gross Proceeds Of Public Offering
GrossProceedsOfPublicOffering
|
8704270 | usd |
CY2022Q4 | emld |
Deferred Underwriters Discount
DeferredUnderwritersDiscount
|
8704270 | usd |
CY2023 | emld |
Aggregate Percentage Underwritting Expenses
AggregatePercentageUnderwrittingExpenses
|
0.003 | pure |
CY2023 | emld |
Advisory Fee Percentage
advisoryFeePercentage
|
0.00525 | pure |
CY2023Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1155000 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1155000 | usd |
CY2023 | emld |
Aggregate Share
AggregateShare
|
1610000 | shares |
CY2023 | emld |
Aggregate Fair Value Of Investor Shares
AggregateFairValueOfInvestorShares
|
1610000 | shares |
CY2023 | emld |
Nonredemption Agreement Expense
NonredemptionAgreementExpense
|
708400 | usd |
CY2023 | emld |
Non Redeeming Shareholders Par Value
NonRedeemingShareholdersParValue
|
0.44 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023 | emld |
Description Of Exercise Price And Number Of Shares Of Common Stock
DescriptionOfExercisePriceAndNumberOfSharesOfCommonStock
|
In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price to be determined in good faith by the Company and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the initial stockholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the completion of the initial Business Combination (net of redemptions), and (z) the volume-weighted average trading price of the shares of Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company completes its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. | |
CY2023Q4 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
165653149 | usd |
CY2022Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
254251750 | usd |
CY2023Q4 | us-gaap |
Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
|
1253839 | usd |
CY2022Q4 | us-gaap |
Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
|
350184 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1253839 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
350184 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1253839 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
350184 | usd |
CY2023 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
2325087 | usd |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
726410 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-903665 | usd |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-329186 | usd |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
903665 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
329186 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2325087 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
726410 | usd |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
903665 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
329186 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.1335 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.179 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.3435 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.389 | pure |
CY2023Q4 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
1 | |
CY2023 | emld |
Redemption Price Of Per Share
RedemptionPriceOfPerShare
|
10.6224 | |
CY2023Q4 | emld |
Reimbursement Receivable Non Current
ReimbursementReceivableNonCurrent
|
usd | |
CY2022Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
usd | |
CY2023Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
usd | |
CY2023Q4 | emld |
Deferred Underwriters Discount
DeferredUnderwritersDiscount
|
usd | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2022Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2022Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
usd | |
CY2022 | emld |
Nonredemption Agreement Expense
NonredemptionAgreementExpense
|
usd | |
CY2022 | us-gaap |
Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
|
usd | |
CY2023 | us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
usd | |
CY2022 | emld |
Nonredemption Agreement Expense
NonredemptionAgreementExpense
|
usd | |
CY2022 | emld |
Increase Decrease In Prepaid Income Taxes
IncreaseDecreaseInPrepaidIncomeTaxes
|
usd | |
CY2022 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
usd | |
CY2023 | us-gaap |
Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
|
usd | |
CY2022 | emld |
Proceedsfrom Cash Withdrawn From Trust Account In Connection With Redemption
ProceedsfromCashWithdrawnFromTrustAccountInConnectionWithRedemption
|
usd | |
CY2023 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | |
CY2022 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
usd | |
CY2022 | emld |
Excise Tax On Stock Redemption
ExciseTaxOnStockRedemption
|
usd | |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
usd | |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
usd | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2023 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
usd | |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
usd | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
usd | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001889123 |