Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2022

Class A Common Stock Subject to Possible Redemption

The Class A common stock subject to possible redemption reflected on the accompanying unaudited balance sheets as of September 30, 2022 and December 31, 2021 is reconciled in the following table:

Gross Proceeds	$	172,500,000
Less:
Proceeds allocated to public warrants		(10,130,155	)
Class A common stock issuance costs		(9,719,194	)
Plus:
Accretion of carrying value to redemption value		19,849,349
Class A common stock subject to possible redemption as of December 31, 2021		172,500,000
Accretion of carrying value to redemption value		692,390
Class A common stock subject to possible redemption as of September 30, 2022	$	173,192,390

Basic and Diluted Income per Common Share

The accompanying unaudited condensed statements of operations includes a presentation of income (loss) per share for common stock subject to redemption in a manner similar to the two-class method of income (loss) per share. Accordingly, basic and diluted income (loss) per common share of Class A common stock and Class B common stock is calculated as follows:

	Three Months Ended September 30, 2022		Three Months Ended September 30, 2021
Net Income (loss) per share for Class A common stock:
Allocation of income (loss) to Class A common stock	$	429,898	$	(1,887,399	)

Weighted average shares outstanding of Class A common stock		17,250,000		17,250,000
Basic and diluted net income (loss) per share, Class A common stock	$	0.02	$	(0.11	)

Net Income (loss) per share for Class B common stock:
Allocation of income (loss) to Class B common stock	$	107,474	$	(471,850	)

Weighted average shares outstanding of Class B common stock		4,312,500		4,312,500
Basic and diluted net income (loss) per share, Class B common stock	$	0.02	$	(0.11	)

	Nine Months Ended September 30, 2022		Nine Months Ended September 30, 2021
Net Income per share for Class A common stock:
Allocation of income to Class A common stock	$	6,597,281	$	63,247

Weighted average shares outstanding of Class A common stock		17,250,000		14,090,659
Basic and diluted net income per share, Class A common stock	$	0.38	$	0.00

Net Income per share for Class B common stock:
Allocation of income to Class B common stock	$	1,649,320	$	18,894

Weighted average shares outstanding of Class B common stock		4,312,500		4,209,478
Basic and diluted net income per share, Class B common stock	$	0.38	$	0.00

SportsTek Acquisition Corp. 10-Q