As
of July 31, 2022, the ordinary shares subject to redemption reflected on the balance sheets are reconciled in the following table:
Ordinary Shares Subject to Possible Redemption
| | |
| | |
| Gross proceeds from public issuance | |
$ | 86,250,000 | |
| Less: | |
| | |
| Proceeds allocated to pubic warrants and public rights | |
| (9,979,125 | ) |
| Redeemable ordinary shares issuance costs | |
| (5,196,868 | ) |
| | |
| | |
| Plus: | |
| | |
| Accretion of carrying value to redemption value
(Deemed dividend) | |
| 14,695,090 | |
| Ordinary shares subject to possible
redemption | |
$ | 85,769,097 | |
|