The three-month period ended September 30, 2021 and the period from January 26, 2021 (inception) through September 30, 2021 exclude an aggregate of 562,500 shares that are subject to forfeiture to the extent that the underwriters’ over-allotment is not exercised in full (see Note 5). On November 15, 2021, the underwriters fully exercised their over-allotment option; thus, these shares are no longer subject to forfeiture.

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The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Arena Fortify Acquisition Corp. 10-Q