2023 Q1 Form 10-Q Financial Statement
#000119312523137081 Filed on May 05, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
Revenue | $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 | $239.3K | $0.00 |
YoY Change | ||
Operating Profit | -$239.3K | $0.00 |
YoY Change | ||
Interest Expense | $2.902M | |
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $3.950M | $0.00 |
YoY Change | ||
Pretax Income | $3.711M | $0.00 |
YoY Change | ||
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | $3.711M | $0.00 |
YoY Change | ||
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.13 | $0.00 |
Diluted Earnings Per Share | $0.13 | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 5.750M | 5.000M |
Diluted Shares Outstanding | 5.750M | 5.000M |
Balance Sheet
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $421.8K | |
YoY Change | ||
Cash & Equivalents | $421.8K | |
Short-Term Investments | ||
Other Short-Term Assets | $265.2K | $567.6K |
YoY Change | -53.28% | |
Inventory | ||
Prepaid Expenses | $265.2K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $687.0K | $567.6K |
YoY Change | 21.03% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $242.6M | |
YoY Change | ||
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $242.6M | -$2.00 |
YoY Change | -12132401350.0% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $687.0K | $567.6K |
Total Long-Term Assets | $242.6M | -$2.00 |
Total Assets | $243.3M | $567.6K |
YoY Change | 42770.26% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | ||
YoY Change | ||
Accrued Expenses | $224.8K | $344.9K |
YoY Change | -34.83% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $201.4K |
YoY Change | -100.0% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $294.8K | $546.3K |
YoY Change | -46.04% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $3.359M | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $2.763M | |
YoY Change | ||
Total Long-Term Liabilities | $6.122M | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $294.8K | $546.3K |
Total Long-Term Liabilities | $6.122M | $0.00 |
Total Liabilities | $17.92M | $546.3K |
YoY Change | 3179.36% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$17.23M | -$3.727K |
YoY Change | 462204.13% | |
Common Stock | $0.00 | $24.43K |
YoY Change | -100.0% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$17.23M | $21.27K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $243.3M | $567.6K |
YoY Change | 42770.26% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $3.711M | $0.00 |
YoY Change | ||
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$121.9K | $0.00 |
YoY Change | ||
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | ||
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 | 0.000 | 0.000 |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -121.9K | 0.000 |
Cash From Investing Activities | ||
Cash From Financing Activities | 0.000 | 0.000 |
Net Change In Cash | -121.9K | 0.000 |
YoY Change | ||
FREE CASH FLOW | ||
Cash From Operating Activities | -$121.9K | $0.00 |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2022Q4 | rene |
Cash And Marketable Securities Held In Trust Account
CashAndMarketableSecuritiesHeldInTrustAccount
|
239745907 | |
CY2023Q1 | us-gaap |
Assets
Assets
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243335003 | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001889112 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
00-0000000 | |
CY2023Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2023Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
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Document Period End Date
DocumentPeriodEndDate
|
2023-03-31 | |
CY2023Q1 | dei |
Document Fiscal Year Focus
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|
2023 | |
CY2023Q1 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023Q1 | dei |
Entity File Number
EntityFileNumber
|
001-41378 | |
CY2023Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
CARTESIAN GROWTH CORPORATION II | |
CY2023Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
E9 | |
CY2023Q1 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
505 Fifth Avenue | |
CY2023Q1 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
15th Floor | |
CY2023Q1 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
New York | |
CY2023Q1 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
NY | |
CY2023Q1 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
10017 | |
CY2023Q1 | dei |
City Area Code
CityAreaCode
|
212 | |
CY2023Q1 | dei |
Local Phone Number
LocalPhoneNumber
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461-6363 | |
CY2023Q1 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023Q1 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
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Yes | |
CY2023Q1 | dei |
Entity Filer Category
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Non-accelerated Filer | |
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Entity Small Business
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true | |
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Entity Emerging Growth Company
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true | |
CY2023Q1 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2023Q1 | dei |
Entity Shell Company
EntityShellCompany
|
true | |
us-gaap |
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList
|
http://fasb.org/us-gaap/2022#FairValueAdjustmentOfWarrants | ||
CY2023Q1 | us-gaap |
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList
|
http://fasb.org/us-gaap/2022#FairValueAdjustmentOfWarrants | |
CY2023Q1 | us-gaap |
Cash
Cash
|
421781 | |
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Cash
Cash
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Prepaid Expense Current
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Assets
Assets
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Accrued Liabilities Current
AccruedLiabilitiesCurrent
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224804 | |
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Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
148911 | |
CY2023Q1 | rene |
Accrued Offering Costs
AccruedOfferingCosts
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70000 | |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
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218911 | |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
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Assets Current
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850400 | |
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Cash And Marketable Securities Held In Trust Account
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Accrued Offering Costs
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Liabilities Current
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294804 | |
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Warrant Liabilities Non Current
WarrantLiabilitiesNonCurrent
|
2762780 | |
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Warrant Liabilities Non Current
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Notes Payable Related Parties Noncurrent
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Deferred Underwriting Fee Non Current
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Liabilities
Liabilities
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Liabilities
Liabilities
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Commitments And Contingencies
CommitmentsAndContingencies
|
||
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Commitments And Contingencies
CommitmentsAndContingencies
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Ordinary Shares Subject To Possible Redemption Value
OrdinarySharesSubjectToPossibleRedemptionValue
|
242648025 | |
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Ordinary Shares Subject To Possible Redemption Value
OrdinarySharesSubjectToPossibleRedemptionValue
|
239745907 | |
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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 | |
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Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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1000000 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
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Preferred Stock Shares Issued
PreferredStockSharesIssued
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Preferred Stock Shares Issued
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Preferred Stock Shares Outstanding
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Preferred Stock Value
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Preferred Stock Value
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Common Stock Value
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Common Stock Value
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|
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Common Stock Value1
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|
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Common Stock Value1
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|
575 | |
CY2023Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
0 | |
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
StockholdersEquity
|
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
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Operating Costs And Expenses
OperatingCostsAndExpenses
|
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Operating Costs And Expenses
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|
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|
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Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
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Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
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Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
|
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Change In Fair Value Of Convertible Promissory Note Related Party
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|
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Investment Income Interest
InvestmentIncomeInterest
|
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Investment Income Interest
InvestmentIncomeInterest
|
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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|
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Net Income Loss
NetIncomeLoss
|
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Net Income Loss
NetIncomeLoss
|
0 | |
CY2023Q1 | rene |
Basic Weighted Average Shares Outstanding Shares Subject To Possible Redemption
BasicWeightedAverageSharesOutstandingSharesSubjectToPossibleRedemption
|
23000000 | |
CY2023Q1 | rene |
Diluted Weighted Average Shares Outstanding Shares Subject To Possible Redemption
DilutedWeightedAverageSharesOutstandingSharesSubjectToPossibleRedemption
|
23000000 | |
CY2022Q1 | rene |
Basic Weighted Average Shares Outstanding Shares Subject To Possible Redemption
BasicWeightedAverageSharesOutstandingSharesSubjectToPossibleRedemption
|
0 | |
CY2022Q1 | rene |
Diluted Weighted Average Shares Outstanding Shares Subject To Possible Redemption
DilutedWeightedAverageSharesOutstandingSharesSubjectToPossibleRedemption
|
0 | |
CY2023Q1 | rene |
Basic Net Income Per Ordinary Share Shares Subject To Possible Redemption
BasicNetIncomePerOrdinaryShareSharesSubjectToPossibleRedemption
|
0.13 | |
CY2023Q1 | rene |
Diluted Net Income Per Ordinary Share Shares Subject To Possible Redemption
DilutedNetIncomePerOrdinaryShareSharesSubjectToPossibleRedemption
|
0.13 | |
CY2022Q1 | rene |
Basic Net Income Per Ordinary Share Shares Subject To Possible Redemption
BasicNetIncomePerOrdinaryShareSharesSubjectToPossibleRedemption
|
0 | |
CY2022Q1 | rene |
Diluted Net Income Per Ordinary Share Shares Subject To Possible Redemption
DilutedNetIncomePerOrdinaryShareSharesSubjectToPossibleRedemption
|
0 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5750000 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5750000 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5000000 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5000000 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.13 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.13 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
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CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
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Stockholders Equity
StockholdersEquity
|
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Adjustments To Additional Paid In Capital Remeasurement For Ordinary Shares To Redemption Amount
AdjustmentsToAdditionalPaidInCapitalRemeasurementForOrdinarySharesToRedemptionAmount
|
-2902118 | |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
3710757 | |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-17229500 | |
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Stockholders Equity
StockholdersEquity
|
21273 | |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
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Stockholders Equity
StockholdersEquity
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21273 | |
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Profit Loss
ProfitLoss
|
3710757 | |
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Interest Earned On Cash And Marketable Securities Held In Trust Account
InterestEarnedOnCashAndMarketableSecuritiesHeldInTrustAccount
|
2902118 | |
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Transaction Costs
TransactionCosts
|
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CY2023Q1 | rene |
Change In Fair Value Of Convertible Promissory Note Related Party
ChangeInFairValueOfConvertiblePromissoryNoteRelatedParty
|
15962 | |
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Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-1063916 | |
CY2023Q1 | rene |
Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
|
-41536 | |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
75893 | |
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Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-121886 | |
CY2023Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
0 | |
CY2022Q1 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
62944 | |
CY2023Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | |
CY2022Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
62944 | |
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Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-121886 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
543667 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
421781 | |
CY2023Q1 | rene |
Remeasurement Of Ordinary Shares Subject To Possible Redemption
RemeasurementOfOrdinarySharesSubjectToPossibleRedemption
|
2902118 | |
CY2023Q1 | rene |
Deferred Offering Costs Included In Accrued Offering Costs
DeferredOfferingCostsIncludedInAccruedOfferingCosts
|
0 | |
CY2022Q1 | rene |
Deferred Offering Costs Included In Accrued Offering Costs
DeferredOfferingCostsIncludedInAccruedOfferingCosts
|
78229 | |
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Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
23000000 | |
CY2023Q1 | rene |
Public Share Price Per Share
PublicSharePricePerShare
|
10.3 | |
CY2023Q1 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
100000 | |
CY2023Q1 | rene |
Public Share Price Per Share
PublicSharePricePerShare
|
10.3 | |
CY2023Q1 | us-gaap |
Cash
Cash
|
421781 | |
CY2023Q1 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
242648025 | |
CY2023Q1 | rene |
Working Capital
WorkingCapital
|
392174 | |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top: 8pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The preparation of the unaudited condensed financial statements in conformity with GAAP requires the Company’s 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. </div> <div style="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 unaudited condensed 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. </div> | |
CY2023Q1 | us-gaap |
Cash
Cash
|
421781 | |
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Cash
Cash
|
543667 | |
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Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
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Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
CY2023Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
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Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2023Q1 | 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 | |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div></div> <div style="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. </div> <div style="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The failures of Silicon Valley Bank and Signature Bank on March 10, 2023, raised significant concerns regarding potential risks to deposits at First Republic Bank (“FRB”), including the discretionary working capital account of the Company held at FRB (the “FRB WC Account”). On March 10, 2023, the Company and its management moved to protect the funds in the FRB WC Account by reducing the funds held within the FRB WC Account to $250,000 (the amount covered by FDIC deposit account insurance) and transferring (the “Protective Transfer”), for the benefit of the Company and its shareholders, an aggregate amount of $200,000 (the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">“At-Risk</div> Funds”) to a bank account at FRB held by the Sponsor. In connection with the foregoing, the Company entered into a letter agreement with Sponsor pursuant to which, Sponsor agreed (i) that the transfer of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds was effected solely as an accommodation in order to protect such funds on behalf of the Company and its shareholders, (ii) that the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds are the legal property of the Company in all respects, (iii) that Sponsor (x) will hold the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds as and until directed by the Company, (y) will disburse the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds only to or as directed by the Company upon the Company’s written instruction, and (z) has no direct control over the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds in any respect, (iv) not to charge any escrow or accommodation fee to the Company, and (v) to indemnify the Company and its shareholders, directors and officers from and against any losses suffered or incurred as a result of the transfer of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds. On March 27, 2023, the Company opened a bank account at Customers Bank and on March 28, 2023, the Company directed the Sponsor to transfer the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">At-Risk</div> Funds to such account. </div> | |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
CY2023Q1 | rene |
Cash Deposits Transferred To Bank Account
CashDepositsTransferredToBankAccount
|
200000 | |
CY2023Q1 | rene |
Offering Costs
OfferingCosts
|
16804728 | |
CY2023Q1 | rene |
Offering Costs Charged To Shareholders Deficit
OfferingCostsChargedToShareholdersDeficit
|
16608744 | |
CY2023Q1 | rene |
Offering Costs Charged To Operations
OfferingCostsChargedToOperations
|
195984 | |
CY2023Q1 | rene |
Dissolution Expenses
DissolutionExpenses
|
100000 | |
CY2023Q1 | 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 | |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | |
CY2023Q1 | us-gaap |
Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
|
<div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Derivative Financial Instruments </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging – Contracts in Entity’s Own Equity” (“ASC <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">815-40”).</div> The Company’s derivative instruments are recorded at fair value on the balance sheet with changes in the fair value reported in the statement of operations. Derivative assets and liabilities are classified on the balance sheet as current or <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-current</div> based on whether or not <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">net-cash</div> settlement or conversion of the instrument could be required within 12 months of the balance sheet date. </div> | |
CY2023Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2023Q1 | rene |
Warrant Description
WarrantDescription
|
The warrants will become exercisable on the later of 12 months from the closing of the Initial Public Offering or 30 days after the completion of the Company’s initial Business Combination, and will expire five years after the completion of the Company’s initial Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. | |
CY2023Q1 | rene |
Percentage Of Proceeds From Share Issuances
PercentageOfProceedsFromShareIssuances
|
0.60 | |
CY2021Q4 | us-gaap |
Sponsor Fees
SponsorFees
|
25000 | |
CY2021Q4 | rene |
Price Per Share Unit
PricePerShareUnit
|
0.004 | |
CY2021Q4 | rene |
Assets Tangible And Intangible
AssetsTangibleAndIntangible
|
0 | |
CY2021Q4 | rene |
Percentage Of Founder Shares
PercentageOfFounderShares
|
0.20 | |
CY2023Q1 | rene |
Business Combination Description
BusinessCombinationDescription
|
The Sponsor and DirectorCo have agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until one year after the date of the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, (i) the last reported sale price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (ii) the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property. | |
rene |
Office Space Monthly Rent
OfficeSpaceMonthlyRent
|
10000 | ||
CY2023Q1 | rene |
Working Capital Loan
WorkingCapitalLoan
|
1500000 | |
CY2023Q1 | rene |
Price Per Warrant
PricePerWarrant
|
1 | |
CY2023Q1 | rene |
Registration Rights Description
RegistrationRightsDescription
|
The holders of the majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period, which occurs (i) in the case of the founder shares, one year after the date of the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the last reported sale price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property, and (ii) in the case of the Private Placement Warrants and the respective Class A Ordinary Shares underlying such Private Placement Warrants, 30 days after the completion of the initial Business Combination. | |
CY2023Q1 | rene |
Number Of Demands Eligible Security Holder Can Make
NumberOfDemandsEligibleSecurityHolderCanMake
|
3 | |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2023Q1 | us-gaap |
Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
|
0.20 | |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
16566666 | |
rene |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Initial Measurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisInitialMeasurement
|
5533268 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
-680330 | ||
rene |
Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3 To Level1
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3ToLevel1
|
-2750475 | ||
CY2022Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
2102463 | |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
-567883 | |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
1534580 | |
CY2021Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
|
0 |