Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Significant Accounting Policies [Abstract]

Schedule of Redeemable Class A Ordinary Shares Reflected in the Balance Sheets

At September 30, 2024 and December 31, 2023 the Redeemable Class A Ordinary Shares reflected in the balance sheets is reconciled in the following table:

Redeemable Class A Ordinary Shares subject to possible redemption at December 31, 2022	$	237,941,214
Less:
Redemption of Redeemable Class A Ordinary Shares		(195,400,571	)
Plus:
Waiver of Class A shares issuance costs		7,640,156
Remeasurement of carrying value to redemption value		2,697,130
Redeemable Class A Ordinary Shares subject to possible redemption at December 31, 2023	$	52,877,929
Plus:
Remeasurement of carrying value to redemption value		672,063
Redeemable Class A Ordinary Shares subject to possible redemption at March 31, 2024	$	53,549,992
Plus:
Remeasurement of carrying value to redemption value		680,937
Redeemable Class A Ordinary Shares subject to possible redemption at June 30, 2024	$	54,230,929
Plus:
Remeasurement of carrying value to redemption value		1,043,214
Redeemable Class A Ordinary Shares subject to possible redemption at September 30, 2024	$	55,274,143

Schedule of Reconciliation of Net (Loss) Income Per Ordinary Share

A reconciliation of net (loss) income per ordinary share as adjusted for the portion of (loss) income that is attributable to ordinary shares subject to redemption is as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
Net income	$	662,463		$	2,737,046		$	465,211		$	2,480,758
Less: Accretion of temporary equity to redemption value		(1,043,214	)		(2,699,684	)		(2,396,214	)		(7,898,068	)
Net (loss) income including accretion of temporary equity to redemption value	$	(380,751	)	$	37,362		$	(1,931,003	)	$	(5,417,310	)

Schedule of Ordinary Shares

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2024			2023		2024			2023
Redeemable Ordinary Shares
Numerator: Net loss allocable to Redeemable Ordinary Shares subject to possible redemption
Net (loss) income allocable to ordinary shareholders
Less: Net (loss) income allocable to Non-Redeemable Ordinary Shares	$	(169,617	)	$	25,913	$	(870,854	)	$	(4,101,083	)
Add: Deemed dividend to Redeemable Shareholders		1,043,214			2,699,684		2,396,214			7,898,068
Net income allocable to Redeemable Ordinary Shares subject to possible redemption	$	873,597		$	2,725,597	$	1,525,360		$	3,796,985

Denominator: Weighted Average Shares Outstanding of Redeemable Ordinary Shares
Basic Weighted Average Shares Outstanding		4,777,672			13,014,432		4,777,672			17,915,773
Basic net income per share	$	0.18		$	0.21	$	0.32		$	0.21

Non-Redeemable Ordinary Shares
Numerator: Net (loss) income allocable to Non-Redeemable Ordinary Shares		(211,134	)		11,449		(1,060,149	)		(1,316,227	)

Denominator: Weighted Average Shares Outstanding of Non-Redeemable Ordinary Shares
Basic Weighted Average Shares Outstanding		5,947,120			5,750,000		5,816,186			5,750,000
Basic net (loss) income per share	$	(0.04	)	$	0.00	$	(0.18	)	$	(0.23	)

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2024			2023		2024			2023
Redeemable Ordinary Shares
Numerator: Net (loss) income allocable to Redeemable Ordinary Shares subject to possible redemption
Net (loss) income allocable to ordinary shareholders
Less: Net (loss) income allocable to Non-Redeemable Ordinary Shares	$	(169,617	)	$	25,913	$	(870,854	)	$	(4,101,083	)
Add: Deemed dividend to Redeemable Shareholders		1,043,214			2,699,684		2,396,214			7,898,068
Net income allocable to Redeemable Ordinary Shares subject to possible redemption	$	873,597		$	2,725,597	$	1,525,360		$	3,796,985

Denominator: Weighted Average Shares Outstanding of Redeemable Ordinary Shares
Diluted Weighted Average Shares Outstanding		4,777,672			13,014,432		4,777,672			17,915,773
Diluted net income per share	$	0.18		$	0.21	$	0.32		$	0.21

Non-Redeemable Ordinary Shares
Numerator: Net (loss) income allocable to Non-Redeemable Ordinary Shares		(212,911	)		11,449		(1,063,272	)		(1,316,227	)

Denominator: Weighted Average Shares Outstanding of Non-Redeemable Ordinary Shares
Diluted Weighted Average Shares Outstanding		6,060,645			5,750,000		5,854,304			5,750,000
Diluted net (loss) income per share	$	(0.04	)	$	0.00	$	(0.18	)	$	(0.23	)

Perception Capital Corp. IV 10-Q