SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2023

The following tables reflect the calculation of basic and diluted net income per share (in dollars, except per share amounts):

	For the three months ended June 30, 2023				For the six months ended June 30, 2023
	Class A		Class B		Class A		Class B
EPS: Common Stock
Numerator:
Allocation of net income	$	1,793,113	$	448,278	$	2,196,134	$	549,033
Denominator:
Basic and diluted weighted average shares outstanding		15,000,000		3,750,000		15,000,000		3,750,000
Basic and diluted net income per share	$	0.12	$	0.12	$	0.15	$	0.15

	For the three months ended June 30, 2022				For the six months ended June 30, 2022
	Class A		Class B		Class A		Class B
EPS: Common Stock
Numerator:
Allocation of net income	$	1,242,500	$	310,625	$	2,791,771	$	697,943
Denominator:
Basic and diluted weighted average shares outstanding		15,000,000		3,750,000		15,000,000		3,750,000
Basic and diluted net income per share	$	0.08	$	0.08	$	0.19	$	0.19

At June 30, 2023, the Class A common stock reflected in the balance sheets is reconciled in the following table:

Class A common stock subject to possible redemption at December 31, 2022	$	151,265,672
Add:
Accretion of carrying value to redemption value		1,299,487
Class A common stock subject to possible redemption at March 31, 2023		152,565,159
Add:
Accretion of carrying value to redemption value		1,740,241
Class A common stock subject to possible redemption at June 30, 2023	$	154,305,440

AxonPrime Infrastructure Acquisition Corp 10-Q