UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~June~~September 30, 2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-40389

B. RILEY PRINCIPAL 250 MERGER CORP.

(Exact Name of Registrant as Specified in Its Charter)

Delaware		85-1635003
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)

299 Park Avenue, 21^st Floor New York, New York		10171
(Address of Principal Executive Offices)		(Zip Code)

(212) 457-3300

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant	BRIVU	The Nasdaq Stock Market LLC
Class A common stock, $0.0001 par value	BRIV	The Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share	BRIVW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

As of ~~August~~November 119, 2022, there were 4,312,500 shares of Class B common stock, par value $0.0001 per share, and 17,850,000 shares of Class A common stock, par value $0.0001 per share, were issued and outstanding.

B. Riley Principal 250 Merger Corp.

Quarterly Report on Form 10-Q

For the Quarterly Period Ended ~~June~~September 30, 2022

Table of Contents

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements	1
	Condensed Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021	1
	Condensed Balance Sheets as of September 30, 2022 (unaudited) and December 31, 2021	1
	Condensed Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited)	2
	Condensed Statements of Operations for the three and nine months ended September 30, 2022 and 2021 (unaudited)	2
	Condensed Statements of Changes in Stockholders’ Deficit for the three and six months ended June 30, 20 2022 and 2021 (unaudited)	3
	Condensed Statements of Changes in Stockholders’ Equity (Deficit) for the three and nine months ended September 30, 2022 and 2021 (unaudited)	3
	Condensed Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited)	4
	Condensed Statements of Cash Flows for the nine months ended September 30, 2022 and 2021 (unaudited)	4
	Notes to Unaudited Condensed Financial Statements	5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1719
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	2123
Item 4.	Controls and Procedures	2124
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	2225
Item 1A.	Risk Factors	2225
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	2429
Item 3.	Defaults Upon Senior Securities	2429
Item 4.	Mine Safety Disclosures	2429
Item 5.	Other Information	2429
Item 6.	Exhibits	2530
	Signatures	2631

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements.

B. RILEY PRINCIPAL 250 MERGER CORP.

Condensed Balance Sheets

	June 30,			December 31,
	September 30,			December 31,
	2022			2021
	(Unaudited)
Assets
Current assets:
Cash	$	~~671~~513,~~082~~763		$	1,050,144
Prepaid expenses - current		~~365~~276,~~320~~555			430,061
Total current assets		1790,~~036,402~~318			1,480,205
Prepaid expenses - non-current		—			150,290
Investments held in Trust Account		~~172~~173,~~752~~216,~~590~~348			172,507,535
Total assets	$	~~173~~174,~~788~~006,~~992~~666		$	174,138,030
Liabilities and Stockholders' Deficit
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities:
Accounts payable and accrued expenses	$	~~244~~202,~~640~~680		$	175,325
Income taxes payable		691,~~100~~400			—
Due to related party		5061,~~198~~448			27,698
Total current liabilities		~~300~~355,~~938~~528			203,023
Warrant liability		1658,~~670,000~~500			4,766,000
Total liabilities		1,~~970~~014,~~938~~028			4,969,023
Commitments (Note 5)
Class A Common stock subject to possible redemption; 17,250,000 shares (at redemption value of $10.00 per share) at June 30, 2022 and December 31, 2021		172,500,000			172,500,000
Class A Common stock subject to possible redemption; 17,250,000 shares (at redemption value of $10.02 and $10.00 per share) at September 30, 2022 and December 31, 2021		172,843,801			172,500,000
Stockholders' deficit:
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding		—			—
Class A Common stock, $0.0001 par value; 100,000,000 shares authorized; 600,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively (excluding 17,250,000 subject to redemption)		60			60
Class A Common stock, $0.0001 par value; 100,000,000 shares authorized; 600,000 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively (excluding 17,250,000 subject to redemption)		60			60
Class B Common stock, $0.0001 par value; 10,000,000 shares authorized; 4,312,500 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively		431			431
Class B Common stock, $0.0001 par value; 10,000,000 shares authorized; 4,312,500 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively		431			431
Accumulated deficit		~~(682~~148,~~437~~346	)		(3,331,484	)
Total stockholders' deficit		(681,946	)		(3,330,993	)
Total stockholders’ equity (deficit)		148,837			(3,330,993	)
Total liabilities and stockholders' deficit	$	173,788,992		$	174,138,030
Total liabilities and stockholders’ equity (deficit)	$	174,006,666		$	174,138,030

The accompanying notes are an integral part of these unaudited condensed financial statements.

B. RILEY PRINCIPAL 250 MERGER CORP.

Condensed Statements of Operations

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Operating costs	$	~~359~~215,~~072~~374		$	~~126~~215,~~639~~082		$	~~685~~901,~~908~~282		$	~~127~~342,~~089~~171
Loss from operations		(~~359~~215,~~072~~374	)		(~~126~~215,~~639~~082	)		(~~685~~901,~~908~~282	)		(~~127~~342,~~089~~171	)
Other income (expense):
Interest income		~~228~~463,~~654~~758			12,~~671~~219			~~245~~708,~~055~~813			13,~~671~~890
Warrant issue costs		—			~~(124,789~~—	)		—			(124,789	)
Change in fair value of warrant liability		1,~~315~~011,~~330~~500			(12,~~150~~521,~~000~~075	)		34,~~096~~107,~~000~~500			(1,~~150~~371,~~000~~075	)
Total other income (expense)		1,~~543~~475,~~984~~258			(12,~~273~~523,~~118~~294	)		34,~~341~~816,~~055~~313			(1,~~273~~250,~~118~~176	)
Income (loss) before income taxes		1,184,912			(1,399,757	)		2,655,147			(1,400,207	)
Income before income taxes		1,259,884			2,308,212			3,915,031			908,005
Provision for income taxes		685,~~100~~300			—			691,~~100~~400			—
Net income (loss)	$	1,178,812		$	(1,399,757	)	$	2,649,047		$	(1,400,207	)
Net income	$	1,174,584		$	2,308,212		$	3,823,631		$	908,005
Basic and diluted weighted average shares outstanding, Class A common shares		17,850,000			817,~~950~~850,~~220~~000			17,850,000			48,~~499~~998,~~834~~791
Basic and diluted net income (loss) per share, Class A common shares	$	0.05		$	(0.11	)	$	0.12		$	(0.16	)
Basic and diluted net income per share, Class A common shares	$	0.05		$	0.10		$	0.17		$	0.07
Basic and dilted weighted average shares outstanding, Class B common shares		4,312,500			4,102,335			4,312,500			4,206,837
Basic and diluted weighted average shares outstanding, Class B common shares		4,312,500			4,312,500			4,312,500			4,242,445
Basic net income (loss) per share, Class B common shares	$	0.05		$	(0.11	)	$	0.12		$	(0.16	)
Basic and diluted net income per share, Class B common shares	$	0.05		$	0.10		$	0.17		$	0.07

The accompanying notes are an integral part of these unaudited condensed financial statements.

B. RILEY PRINCIPAL 250 MERGER CORP.

Condensed Statements of Changes in Stockholders’ Equity (Deficit)

(Unaudited)

For The Three Months Ended ~~June~~September 30, 2022 and 2021

	Class A Common				Class B Common				Additional					Total
	Class A Common Stock				Class B Common Stock				Additional Paid-in		Accumulated			Total Stockholders’ Equity
	Stock				Stock				Paid-in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			(Deficit)
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, July 1, 2022		600,000	$	60		4,312,500	$	431	$	—	$	(682,437	)	$	(681,946	)
Balance, March 31, 2022		600,000	$	60		4,312,500	$	431	$	—	$	(1,861,249	)	$	(1,860,758	)
Subsequent measurement of Class A Common Stock Subject to Redemption under ASC 480-10-S99 against accumulated deficit		—		—		—		—		—		(343,801	)		(343,801	)
Net income for the three months ended June 30, 2022		—		—		—		—		—		1,178,812			1,178,812
Net income for the three months ended September 30, 2022		—		0		—		—		—		1,174,584			1,174,584
Balance, June 30, 2022		600,000	$	60		4,312,500	$	431	$	—	$	(682,437	)	$	(681,946	)
Balance, September 30, 2022		600,000	$	60		4,312,500	$	431	$	—	$	148,346		$	148,837

	Class A Common				Class B Common				Additional						Total
	Class A Common Stock				Class B Common Stock				Additional Paid-in			Accumulated			Total Stockholders’ Equity
	Stock				Stock				Paid-in			Accumulated			Stockholder's
	Shares		Amount		Shares		Amount		Capital			Deficit			(Deficit)
	Shares		Amount		Shares		Amount		Capital			Deficit			Deficit
Balance, July 1, 2021		600,000	$	60		4,312,500	$	431	$	—		$	(4,812,960	)	$	(4,812,469	)
Balance, March 31, 2021		—	$	—		4,312,500	$	431	$	24,569		$	(1,898	)	$	23,102
Net income for the three months ended September 30, 2021		—		—		—		—		—			2,308,212			2,308,212
Sale of 555,000 Private Placement Units on May 11, 2021		555,000		56		—		—		5,372,344			—			5,372,400
Balance, September 30, 2021		600,000	$	60		4,312,500	$	431	$	—		$	(2,504,748	)	$	(2,504,257	)
Sale of 45,000 Private Placement Units on June 14, 2021		45,000		4		—		—		435,596			—			435,600
Subsequent measurement of Class A Common Stock Subject to Redemption under
ASC 480-10-S99 against additional paid-in capital		—		—		—		—		(5,832,509	)		—			(5,832,509	)
Subsequent measurement of Class A Common Stock Subject to Redemption under
ASC 480-10-S99 against accumulated deficit		—		—		—		—		—			(3,411,305	)		(3,411,305	)
Net loss for the three months ended June 30, 2021		—		—		—		—		—			(1,399,757	)		(1,399,757	)
Balance, June 30, 2021		600,000	$	60		4,312,500	$	431	$	—		$	(4,812,960	)	$	(4,812,469	)

~~Six~~ For The Nine Months Ended ~~June~~September 30, 2022 and 2021

	Class A Common				Class B Common				Additional					Total
	Class A Common Stock				Class B Common Stock				Additional Paid-in		Accumulated			Total Stockholders’ Equity
	Stock				Stock				Paid-in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			(Deficit)
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, January 1, 2022		600,000	$	60		4,312,500	$	431	$	—	$	(3,331,484	)	$	(3,330,993	)
Net income for the six months ended June 30, 2021		—		—		—		—		—		2,649,047			2,649,047
Subsequent measurement of Class A Common Stock Subject to Redemption under ASC 480-10-S99 against accumulated deficit		—		—		—		—		—		(343,801	)		(343,801	)
Balance, June 30, 2022		600,000	$	60		4,312,500	$	431	$	—	$	(682,437	)	$	(681,946	)
Net income for the nine months ended September 30, 2021		—		—		—		—		—		3,823,631			3,823,631
Balance, September 30, 2022		600,000	$	60		4,312,500	$	431	$	—	$	148,346		$	148,837

	Class A Common				Common Stock				Additional						Total
	Class A Common Stock				Class B Common Stock				Additional Paid-in			Accumulated			Total Stockholders’ Equity
	Stock				Class B				Paid-in			Accumulated			Stockholder's
	Shares		Amount		Shares		Amount		Capital			Deficit			(Deficit)
	Shares		Amount		Shares		Amount		Capital			Deficit			Deficit
Balance, January 1, 2021		—	$	—		4,312,500	$	431	$	24,569		$	(1,448	)	$	23,552
Sale of 555,000 Private Placement Units on May 11, 2021		555,000		56		—		—		5,372,344			—			5,372,400
Sale of 45,000 Private Placement Units on June 14, 2021		45,000		4		—		—		435,596			—			435,600
Subsequent measurement of Class A Common Stock Subject to Redemption under
Subsequent measurement of Class A Common Stock Subject to Redemption under ASC 480-10-S99 against additional paid-in capital		—		—		—		—		(5,832,509	)		—			(5,832,509	)
ASC 480-10-S99 against additional paid-in capital		—		—		—		—		(5,832,509	)		—			(5,832,509	)
Subsequent measurement of Class A Common Stock Subject to Redemption under ASC 480-10-S99 against accumulated deficit		—		—		—		—		—			(3,411,305	)		(3,411,305	)
Subsequent measurement of Class A Common Stock Subject to Redemption under
Net income for the nine months ended September 30, 2021		—		—		—		—		—			908,005			908,005
ASC 480-10-S99 against accumulated deficit		—		—		—		—		—			(3,411,305	)		(3,411,305	)
Balance, September 30, 2021		600,000	$	60		4,312,500	$	431	$	—		$	(2,504,748	)	$	(2,504,257	)
Net loss for the six months ended June 30, 2021		—		—		—		—		—			(1,400,207	)		(1,400,207	)
Balance, June 30, 2021		600,000	$	60		4,312,500	$	431	$	—		$	(4,812,960	)	$	(4,812,469	)

The accompanying notes are an integral part of these unaudited condensed financial statements.

B. RILEY PRINCIPAL 250 MERGER CORP.

Condensed Statements of Cash Flows

(Unaudited)

	Six Months Ended June 30,
	For The Nine Months Ended June 30,
	2022			2021
Cash flows from operating activities:
Net income (loss)	$	2,649,047		$	(1,400,207	)
Net income	$	3,823,631		$	908,005
Interest earned on investments held in Trust Account		(~~245~~708,~~055~~813	)		(13,~~671~~890	)
Adjustments to reconcile net loss to net cash used in operating activities:
Adjustments to reconcile net income to net cash used in operating activities:
Warrant issue costs		—			124,789
Change in fair value of warrant liability		(34,~~096~~107,~~000~~500	)		(1,~~150~~371,~~000~~075	)
Decrease in prepaid expenses		215,031			(805,252	)
Decrease (increase) in prepaid expenses		303,796			(690,080	)
Decrease in accounts payable and accrued expenses		69,315			65,918
Increase in accounts payable and accrued expenses		27,355			149,418
Increase in income taxes payable		691,~~100~~400			—
Increase in due to related party		2233,~~500~~750			719,~~950~~200
Net cash used in operating activities		(~~379~~536,~~062~~381	)		(~~858~~863,~~473~~633	)
Cash flows from investing activities:
Proceeds deposited in Trust Account		—			(172,500,000	)
Net cash used in investing activities		—			(172,500,000	)
Cash flows from financing activities:
Proceeds from note payable - related party		—			100,000
Repayment of note payable - related party		—			(100,000	)
Proceeds from issuance of Class A common stock		—			172,500,000
Proceeds from issuance of private placement units		—			6,000,000
Payment of underwriting discounts		—			(3,450,000	)
Payment of offering expenses		—			(571,103	)
Net cash used in financing activities		—			174,478,897
Net cash provided by financing activities		—			174,478,897
(Decrease) increase in cash		(~~379~~536,~~062~~381	)		1,~~120~~115,~~424~~264
Cash, beginning of year		1,050,144			25,000
Cash, end of period	$	~~671~~513,~~082~~763		$	1,~~145~~140,~~424~~264
Supplemental disclosures:
Interest paid	$	—		$	—
Taxes paid	$	—		$	—
Supplemental disclosure of noncash investing and financing activities:
Initial measurement of Class A ordinary shares subject to possible redemption	$	—		$	172,500,000
Initial classification of warrant liability	$	—		$	5,539,500

The accompanying notes are an integral part of these unaudited condensed financial statements.

B. RILEY PRINCIPAL 250 MERGER CORP.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 — ORGANIZATION AND NATURE OF BUSINESS OPERATIONS

Organization and General

B. Riley Principal 250 Merger Corp. (the “Company”), a blank check corporation, was incorporated as a Delaware corporation on June 19, 2020. The Company is an emerging growth company, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The ~~Company~~ Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or ~~similar~~ similar business combination with one or more businesses (an “Initial Business Combination”).

As of ~~June~~September 30, 2022, the Company had not commenced any operations. All activity of the Company includes the activity of the Company from inception and activity related to the initial public offering (the “Public Offering”) described below and evaluating prospective acquisition targets. The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Public Offering described below. The Company has selected December 31st as its fiscal year end.

Public Offering

The Company completed the sale of 15,000,000 units (the “Public Units”) at an offering price of $10.00 per Public Unit in the Public Offering on May 11, 2021. B. Riley Principal 250 Sponsor Co. LLC (the “Sponsor”), a Delaware limited liability company and a wholly-owned indirect subsidiary of B. Riley Financial, Inc. (“B. Riley Financial”), purchased an aggregate of 555,000 units at a price of $10.00 per unit (the “Private Placement Units”) in a private placement that closed on May 11, 2021 simultaneously with the Public Offering. The sale of the 15,000,000 Public Units in the Public Offering generated gross proceeds of $150,000,000, less underwriting commissions of $3,000,000 (2% of the gross proceeds of the Public Offering) and other offering costs of $571,103. The sale of the Private Placement Units generated $5,550,000 of gross proceeds. The Company granted the underwriters a 45-day option from the date of the prospectus, May 7, 2021, to purchase additional Public Units. On June 14, 2021, the underwriters exercised the over-allotment in full and purchased an additional 2,250,000 Public Units (the “Over-Allotment Public Units”), generating gross proceeds of $22,500,000, less underwriting commissions of $450,000 (2% of the gross proceeds of the Over-Allotment Public Units. On June 14, 2021, simultaneously with consummation of the sale of the Over-Allotment Public Units, the Company consummated a private sale of an additional 45,000 Private Placement Units (the “Over-Allotment Private ~~Placement~~ Placement Units”) to the Sponsor, generating gross proceeds of $450,000.

Each Unit consists of one share of the Company’s Class A common stock, $0.0001 par value (“Class A common stock”, and with respect to the shares underlying the Public Units, the “public shares” and with respect to the shares underlying the Private Placement Units, the “Private Placement Shares”), and one-third of one redeemable warrant, with each whole warrant exercisable for one share of Class A common stock (the “Warrants” and, with respect to the Warrants underlying the Public Units, the “Public Warrants” and with respect to the Warrants underlying the Private Placement Units, the “Private ~~Placement~~ Placement Warrants”). One Warrant entitles the holder thereof to purchase one whole share of Class A common stock at an initial ~~exercise~~ exercise price of $11.50 per share.

Sponsor and Note Payable - Related Party

The Company had a promissory note (the “Note”) payable to Sponsor which allowed the Company to borrow up to $300,000 without interest to be used for a portion of the expenses of Public Offering. The Note was payable on the earlier of: (i) December 31, 2021 or (ii) the date on which the Company consummated an initial public offering of its securities. Borrowings during the ~~six~~nine months ended ~~June~~ September 30, 2021 totaled $100,000 which were loaned by the Sponsor to the Company and on May 17, 2021 the full balance of the Note in the amount of $100,000 was repaid using proceeds from the Public Offering and the Private Placement.

The Trust Account

Upon completion of the Public Offering, and the underwriters exercise of the over-allotment in full, $172,~~250~~500,000 of proceeds were placed in the Company’s trust account at Bank of America, N.A., with Continental Stock Transfer & Trust Company acting as trustee (the “Trust Account”) and are invested in permitted United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, which we refer to as the Investment Company Act, having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligations. Unless and until the Company completes the Initial Business Combination, it may pay its expenses only from the net proceeds of the Public Offering and the sale of the Private Placement Units held outside the Trust Account, which was $~~671~~513,~~082~~763 and $1,050,144 on ~~June~~September 30, 2022 and December 31, 2021, respectively.

Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, the proceeds from the Public Offering may not be released from the Trust Account until the earliest of: (i) the completion of the Initial Business Combination; (ii) the redemption of any public shares properly tendered in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (the “Amended Charter”) to modify the substance or timing of the Company’s obligation to redeem 100% of its public shares if it does not complete the Initial Business Combination by May 11, 2023; or (iii) the redemption of all of the Company’s public shares if the Company is unable to complete the Initial Business Combination by May 11, 2023 (at which such time up to $100,000 of interest shall be available to the Company to pay dissolution expenses), subject to to applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the holders of the Company’s public shares (the “public stockholders”).

Initial Business Combination

The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering, ~~although~~ although substantially all of the net proceeds of the Public Offering and the sale of the Private Placement Units are intended to be ~~generally~~ generally applied toward consummating an Initial Business Combination. The Initial Business Combination must occur with one or more businesses or or assets with a fair market value equal to at least 80% of the net assets held in the Trust Account (excluding the amount of any ~~deferred~~ deferred underwriting discount). There is no assurance that the Company will be able to successfully effect an Initial Business Combination.

The Company, after signing a definitive agreement for an Initial Business Combination, will provide its public stockholders’ with the opportunity to redeem all or a portion of their public shares upon the completion of the Initial Business Combination, either (i) in ~~connection~~ connection with a stockholder meeting called to approve the Initial Business Combination or (ii) by means of a tender offer. However, in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its public shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination.

If the Company holds a stockholder vote or there is a tender offer for shares in connection with an Initial Business Combination, a public stockholder will have the right to redeem its public shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable. As a result, such shares of Class A common stock have been recorded at redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity.”

Pursuant to the Company’s Amended Charter, if the Company is unable to complete the Initial Business Combination by May 11, 2023, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.6

~~The~~Pursuant ~~Sponsor~~to ~~and~~ the Company’s ~~officers~~Amended ~~and~~Charter, ~~directors~~if ~~have~~the ~~entered~~Company ~~into~~is aunable ~~letter~~to ~~agreement~~complete ~~with~~the Initial Business Combination by May 11, 2023, the Company will (i) cease all operations except for the purpose of winding up, ~~pursuant~~(ii) toas ~~which~~promptly ~~they~~as reasonably possible but no more than ten business ~~have~~days ~~agreed~~thereafter toredeem ~~waive~~the ~~their~~public ~~rights~~shares, at a per-share price, payable in cash, equal to ~~liquidating~~the ~~distributions~~aggregate ~~from~~amount then on deposit in the Trust Account ~~with~~including ~~respect~~interest toearned ~~any~~on ~~Founder~~the ~~Shares~~funds ~~and~~held ~~Private Placement~~in ~~Shares~~the ~~held~~Trust byAccount ~~them~~and ifnot previously released to the Company ~~fails~~ to ~~complete~~pay ~~the~~franchise and ~~Initial~~income ~~Business~~taxes ~~Combination~~(less byup ~~May~~to 11$100,000 of ~~2023.~~interest ~~However,~~to ifpay ~~the~~dissolution ~~Sponsor or~~expenses), ~~any~~divided ofby the ~~Company’s~~number ~~directors~~of orthen ~~officers~~outstanding ~~acquires~~ public shares, inwhich orredemption ~~after~~will ~~the~~completely ~~Public~~extinguish ~~Offering,~~public ~~they~~stockholders’ ~~will~~rights beas ~~entitled~~stockholders (including the right to receive further liquidating distributions, ~~from~~if ~~the~~any), ~~Trust~~subject ~~Account~~to ~~with~~applicable ~~respect~~law, toand (iii) as promptly as reasonably possible following such ~~public~~redemption, subject ~~shares~~to ifthe approval of the Company’s ~~fails~~remaining tostockholders ~~complete~~and the ~~Initial~~Company’s ~~Business~~board of directors, dissolve and liquidate, ~~Combination~~subject ~~within~~in each case to the ~~prescribed~~Company’s ~~time~~obligations ~~period~~under Delaware law to provide for claims of creditors and the requirements of other applicable law.

6The Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares and Private Placement Shares held by them if the Company fails to complete the Initial Business Combination by May 11, 2023. However, if the Sponsor or any of the Company’s directors or officers acquires public shares in or after the Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such public shares if the Company fails to complete the Initial Business Combination within the prescribed time period.

In the event of a liquidation, dissolution or winding up of the Company after an Initial Business Combination, the Company’s remaining stockholders are entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision is made for each class of stock, if any, having preference over the common stock. The Company’s stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to the common stock, except that the Company will provide its stockholders with the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account, under the circumstances, and, subject to the limitations, described herein.

Going Concern Consideration

The Company has principally financed its operations from inception using proceeds from the promissory note from the Sponsor prior to the ~~Public~~ Public Offering and such amount of proceeds from the Public Offering, Private Placement, and the underwriters exercise of the over-allotment in full that were placed in a bank account outside of the Trust Account for working capital purposes. In connection with the closing of of the Public Offering, Private Placement, and the underwriters exercise of the over-allotment in full, $172,~~250~~500,000 (or $10.00 per Class A common stock) of proceeds were placed in the Trust Account. As of ~~June~~September 30, 2022, the Company had $~~671~~513,~~082~~763 in its operating bank account, $~~172~~173,~~752~~216,~~590~~348 in investments held in the Trust Account to be used for an Initial Business Combination or to repurchase or redeem its public shares in connection therewith and working capital of $~~789~~597,~~125~~532, which excludes income taxes payable of $691,~~100~~ 400 and Delaware franchise taxes payable of $4771,~~561~~342 (which is included in accounts payable and accrued expenses at ~~June~~September 30, 2022) as ~~franchise~~ franchise taxes are paid from the Trust Account from interest income earned.

If our funds are insufficient to meet the expenditures required for operating our business in the attempt to find an Initial Business Combination or in the event that an Initial Business Combination is not consummated, we will likely need to raise additional funds in order to meet the expenditures required for operating our business. The Company may not be able to obtain additional financing or raise additional capital to finance its ongoing operations. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction and reducing overhead expenses. If we are unable to raise additional funds to alleviate liquidity needs and complete an Initial Business Combination by May 11, 2023, then we will cease all operations except for the purpose of liquidating. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance date of these condensed financial statements. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.7

~~Risks~~If our funds are insufficient to meet the expenditures required for operating our business in the attempt to find an Initial Business Combination or in the event that an Initial Business Combination is not consummated, we will likely need to raise additional funds in order to meet the expenditures required for operating our business. The Company may not be able to obtain additional financing or raise additional capital to finance its ongoing operations. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction and ~~Uncertainties~~reducing overhead expenses. If we are unable to raise additional funds to alleviate liquidity needs and complete an Initial Business Combination by May 11, 2023, then we will cease all operations except for the purpose of liquidating. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance date of these condensed financial statements. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

~~Management~~Risks ~~continues to evaluate the impact of the COVID-19 pandemic~~ and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of the financial statement. The financial statement does not include any adjustments that might result from the outcome of this uncertainty.Uncertainties

~~NOTE~~Management continues to evaluate 2the —impact ~~SUMMARY~~of OFthe ~~SIGNIFICANT~~COVID-19 ~~ACCOUNTING~~pandemic ~~POLICIES~~and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

~~Basis~~NOTE of2 ~~Presentation~~— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

~~The~~Basis ~~financial statements~~ of the Company are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s unaudited condensed interim financial statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC for interim financial information and the instructions to Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP. In the opinion of management, all adjustments considered for a fair presentation have been included. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or any other period. The accompanying unaudited condensed interim financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on March 29, 2022.Presentation

~~Emerging~~The financial statements of ~~Growth~~the Company are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s unaudited condensed interim financial statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC for interim financial information and the instructions to Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP. In the opinion of management, all adjustments considered for a fair presentation have been included. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or any other period. The accompanying unaudited condensed interim financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K filed with the SEC on March 29, 2022.

~~The~~Emerging ~~Company~~Growth is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.Company

7The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

~~Use of Estimates~~8

~~The~~Use ~~preparation~~ of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement. Estimates are used when accounting for certain items such as valuation of investments held in Trust Account, derivative and warrant liabilities, and accounting for income tax valuation allowances. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

~~Cash~~The preparation of the financial statements in conformity with GAAP requires management to make estimates and ~~Cash~~assumptions ~~Equivalents~~that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement. Estimates are used when accounting for certain items such as valuation of investments held in Trust Account, derivative and warrant liabilities, and accounting for income tax valuation allowances. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

~~The~~Cash Company considers all short-term investments with an original maturity date of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of June 30, 2022 and ~~December~~Cash ~~31, 2021.~~Equivalents

~~Investments~~The ~~Held~~Company inconsiders ~~Trust~~all ~~Account~~short-term investments with an original maturity date of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2022 and December 31, 2021.

AsInvestments ofHeld ~~June 30, 2022 and December 31, 2021, the Company had $172,752,590 and $172,507,535, respectively,~~ in ~~investments held in the~~ Trust Account~~. The assets held in the Trust Account were held in a mutual fund that invests in U.S. Treasury securities.~~

~~Class~~As Aof ~~Common~~September ~~Stock~~30, ~~Subject~~2022 toand ~~Possible~~December ~~Redemption~~31, 2021, the Company had $173,216,348 and $172,507,535, respectively, in investments held in the Trust Account. The assets held in the Trust Account were held in a mutual fund that invests in U.S. Treasury securities.

~~All of the 17,250,000 shares of~~ Class A ~~common~~Common ~~stock~~Stock ~~sold~~Subject as part of the Public Units in the Public Offering contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Initial Business Combination and in connection with certain amendments to ~~the~~Possible Company’s Amended Charter. In accordance with the Securities and Exchange Commission (“SEC”) and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require shares of common stock subject to redemption to be classified outside of permanent equity. Therefore, all of the shares of Class A common stock sold in the Public Offering has been classified outside of permanent equity.Redemption

~~The Company~~All ~~recognizes~~of ~~changes~~the 17,250,000 shares of inClass ~~redemption~~A ~~value~~common ~~immediately~~stock sold as ~~they~~part ~~occur~~of ~~and~~the ~~adjusts~~Public Units in the ~~carrying~~Public ~~value~~Offering ofcontain ~~redeemable~~a ~~common~~redemption ~~stock~~feature ~~to equal~~which allows for the redemption of ~~value~~such atpublic shares in connection with the ~~end~~Company’s ofliquidation, ~~each~~if ~~reporting~~there ~~period.~~is ~~Increases~~a stockholder vote or ~~decreases~~tender offer in connection with the ~~carrying~~Initial ~~amount~~Business ofCombination and in connection with certain amendments to the Company’s Amended Charter. In accordance with the Securities and Exchange Commission (“SEC”) and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require shares of common stock ~~are~~subject ~~affected~~to byredemption ~~charges~~to ~~against~~be ~~additional~~classified ~~paid~~outside of permanent equity. Therefore, all of the shares of Class A common stock sold in ~~capital~~the ~~and~~Public Offering ~~accumulated~~has ~~deficit~~been classified outside of permanent equity.

AsThe ofCompany ~~June~~recognizes ~~30,~~changes ~~2022~~in ~~and~~redemption ~~December~~value ~~31,~~immediately ~~2021,~~as they occur and adjusts the ~~shares~~carrying value of ~~Class~~redeemable A common stock ~~reflected~~to equal the redemption value at the end of each reporting period. Increases or decreases in the ~~Condensed~~carrying ~~Balance~~amount ~~Sheets~~of redeemable common stock are ~~reconciled~~affected by charges against additional paid in ~~the~~ ~~following~~capital ~~table:~~and accumulated deficit.

Gross proceeds	$	172,500,000
Less:
Proceeds allocated to Public Warrants		(5,347,500	)
Proceeds allocated to derivative liability		(84,985	)
Issuance costs allocated to Class A ordinary shares		(3,896,314	)
Plus:
Remeasurement of carrying value to redemption value		9,298,579
Reclassification of derivative liability upon exercise of overallotment option		30,220
Class A ordinary shares subject to possible redemption	$	172,500,000

~~Warrant~~As ~~Liability~~of September 30, 2022 and December 31, 2021, the shares of Class A common stock reflected in the Condensed Balance Sheets are reconciled in the following table:

The Company accounts for warrants to purchase shares of the Company’s common stock that are not indexed to its own stock as liabilities at fair value on the balance sheet in accordance with subtopic ASC 815-40-15, “Derivatives and Hedging - Contract’s in Entity’s Own Equity”. The warrants are re-evaluated for the proper accounting treatment at each reporting period and are subject to remeasurement at each balance sheet date and any change in fair value is recognized as a component of other income (expense), net on the statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the Warrants. At that time, the portion of the liability related to the Warrants will be reclassified to additional paid-in capital. At June 30, 2022 and December 31, 2021, there were 5,950,000 Warrants issued in connection with the Public Offering (the 5,750,000 public Warrants and the 200,000 Private Placement Warrants).

Gross proceeds	$	172,500,000
Less:
Proceeds allocated to Public Warrants		(5,347,500	)
Proceeds allocated to derivative liability		(84,985	)
Issuance costs allocated to Class A ordinary shares		(3,896,314	)
Plus:
Remeasurement of carrying value to redemption value		9,298,579
Reclassification of derivative liability upon exercise of overallotment option		30,220
Class A ordinary shares subject to possible redemption - December 31, 2021		172,500,000
Remeasurement of carrying value to redemption value		343,801
Class A ordinary shares subject to possible redemption - September 30, 2022	$	172,843,801

8Warrant Liability

~~Offering~~The ~~Costs~~Company ~~Associated~~accounts for warrants to purchase shares of the Company’s common stock that are not indexed to its own stock as liabilities at fair value on the balance sheet in accordance with subtopic ASC 815-40-15, “Derivatives and Hedging - Contract’s in Entity’s Own Equity”. The warrants are re-evaluated for the proper accounting treatment at each reporting period and are subject to remeasurement at each balance sheet date and any change in fair value is recognized as a component of other income (expense), net on the statement of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the Warrants. At that time, the portion of the liability related to the Warrants will be reclassified to additional paid-in capital. At September 30, 2022 and December 31, 2021, there were 5,950,000 Warrants issued in connection with the Public Offering (the 5,750,000 public Warrants and the 200,000 Private Placement Warrants).

~~The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A - Expenses of~~ Offering~~. Offering~~ ~~costs~~Costs ~~consist~~Associated principally of professional and registration fees incurred through the balance sheet date that are related to the Public Offering. Offering costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a reduction in equity. Offering costs for equity contracts that are classified as assets and liabilities are expensed immediately. The Company incurred offering costs amounting to $4,021,103 as a result of the Public Offering (consisting of underwriting commissions of $3,450,000 (2% of the gross proceeds of the Public Offering) and other offering costs of $571,103). The Company recorded $3,896,314 of offering costs as a reduction of temporary equity in connection with the ~~shares of Class A common stock included in the Units. The Company immediately expensed $124,789 of offering costs during 2021 in connection with the~~ Public ~~Warrants and Private Placement Warrants that were classified as liabilities.~~Offering

~~Income~~The Company complies with ~~Taxes~~the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A - Expenses of Offering. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the Public Offering. Offering costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a reduction in equity. Offering costs for equity contracts that are classified as assets and liabilities are expensed immediately. The Company incurred offering costs amounting to $4,021,103 as a result of the Public Offering (consisting of underwriting commissions of $3,450,000 (2% of the gross proceeds of the Public Offering) and other offering costs of $571,103). The Company recorded $3,896,314 of offering costs as a reduction of temporary equity in connection with the shares of Class A common stock included in the Units. The Company immediately expensed $124,789 of offering costs during 2021 in connection with the Public Warrants and Private Placement Warrants that were classified as liabilities.

Prior to the change in ownership on May 11, 2021 as a result of the Public Offering, the Company was included in the consolidated tax return of B. Riley Financial (the “Parent”). During this period, the Company calculated the provision for income taxes by using a “separate return” method. Under this method the Company is assumed to file a separate return with the tax authority, thereby reporting its taxable income or loss and paying the applicable tax to, or receiving the appropriate refund from, the Parent. The current provision was the amount of tax payable or refundable on the basis of a hypothetical, current year, separate return. Following changes in ownership on May 11, 2021, the Company deconsolidated from the Parent for tax purposes. Beginning May 11, 2021, the Company files separate corporate federal and state and local income tax returns.10

~~Any~~Income difference between the tax provision (or benefit) allocated to the Company under the separate return method and payments to be made by (or received from) the Parent for tax expense are treated as either dividends or capital contribution. Accordingly, the amount by which the Company’s tax liability under the separate return method exceeds the amount of tax liability ultimately settled as a result of using incremental expenses of the Parent is periodically settled as a capital contribution from the Parent to the Company.Taxes

~~The~~Prior ~~Company~~to ~~complies~~the ~~with~~change ~~the~~in ~~accounting~~ownership ~~and~~on ~~reporting~~May ~~requirements~~11, of2021 ~~ASC~~as ~~Topic~~a ~~740~~result ~~“Income~~of ~~Taxes~~the Public Offering,” ~~which~~the ~~requires~~Company anwas ~~asset~~included in the consolidated tax return ~~and~~of ~~liability~~B. ~~approach~~Riley toFinancial ~~financial~~(the ~~accounting~~“Parent”). ~~and~~During ~~reporting~~this period, the Company calculated the provision for income taxes by using a “separate return” method. ~~Deferred~~Under ~~income~~this ~~tax~~method ~~assets~~the ~~and~~Company ~~liabilities~~is ~~are~~assumed ~~computed for~~to ~~differences~~file ~~between~~a ~~the~~separate ~~financial~~return ~~statement~~with ~~and~~the tax ~~bases~~authority, ofthereby reporting ~~assets~~its ~~and~~taxable ~~liabilities~~income ~~that~~or ~~will~~loss ~~result~~and inpaying ~~future~~the ~~taxable~~applicable ortax ~~deductible amounts~~to, ~~based~~or onreceiving ~~enacted~~the ~~tax~~appropriate ~~laws~~refund ~~and~~from, ~~rates~~the ~~applicable~~Parent. toThe current provision was the ~~periods~~amount inof ~~which~~tax payable or refundable on the ~~differences~~basis ~~are~~of ~~expected~~a tohypothetical, ~~affect~~current ~~taxable~~year, ~~income~~separate return. Following changes ~~Valuation~~in ~~allowances~~ownership ~~are~~on ~~established~~May 11, ~~when necessary~~2021, tothe ~~reduce~~Company ~~deferred~~deconsolidated from the Parent for tax ~~assets~~purposes. toBeginning May 11, 2021, the ~~amount~~Company ~~expected~~files toseparate corporate befederal ~~realized~~and state and local income tax returns.

~~The~~Any ~~Company’s~~difference ~~effective~~between the tax ~~rate~~provision ~~was~~allocated ~~0.51%~~to ~~and~~the ~~0.00%~~Company ~~for~~under the ~~three~~separate ~~months~~return ~~ended~~method ~~June~~and ~~30,~~payments ~~2022~~to ~~and~~be ~~2021,~~made ~~respectively,~~by ~~and~~(or ~~was 0.23%~~received ~~and~~from) ~~0.00%~~the Parent for ~~the~~tax ~~six~~expense ~~months~~are ~~ended~~treated ~~June~~as ~~30,~~either ~~2022~~dividends ~~and~~or ~~2021,~~capital ~~respectively~~contribution. ~~The~~Accordingly, ~~effective~~the ~~tax~~amount ~~rate~~by ~~differs~~which ~~from~~ the ~~statutory~~ Company’s tax ~~rate~~liability ~~of 21%~~under ~~for~~ the ~~three~~separate ~~and~~return ~~six~~method ~~months~~exceeds ~~ended~~the ~~June~~amount ~~30,~~of ~~2022~~tax ~~and~~liability ~~2021,~~ultimately ~~due~~settled toas ~~changes~~a inresult ~~fair~~of ~~value~~using incremental expenses of ~~warrant~~the ~~liability~~Parent ~~and~~is ~~the~~periodically ~~valuation~~settled ~~allowance on~~as a capital contribution from the ~~deferred~~Parent ~~income~~to ~~tax~~the ~~assets~~Company.

~~ASC~~The ~~Topic~~Company ~~740~~complies ~~prescribes~~with athe ~~recognition~~accounting ~~threshold~~ and areporting ~~measurement~~requirements ~~attribute~~of ~~for~~ASC ~~the~~Topic ~~financial~~740 ~~statement~~“Income ~~recognition~~Taxes,” ~~and~~which ~~measurement~~requires ofan ~~tax~~asset and ~~positions~~liability ~~taken~~approach ~~or expected~~ to befinancial ~~taken~~accounting inand areporting ~~tax~~for ~~return~~income taxes. ~~For~~Deferred ~~those~~income ~~benefits to be recognized, a~~ tax ~~position~~assets ~~must~~and beliabilities ~~more~~are ~~likely~~computed ~~than~~for ~~not~~differences tobetween bethe ~~sustained~~financial ~~upon~~statement ~~examination~~and bytax ~~taxing~~bases ~~authorities.~~of ~~The~~assets ~~Company recognizes accrued interest~~ and ~~penalties~~liabilities ~~related~~that towill ~~unrecognized tax~~result ~~benefits~~in asfuture ~~income~~taxable ~~tax~~or ~~expense.~~deductible Asamounts, based ofon ~~June~~enacted ~~30,~~tax ~~2022~~laws and ~~December~~rates ~~31,~~applicable ~~2021,~~to ~~there~~the ~~were~~periods noin ~~unrecognized~~which ~~tax~~the ~~benefits~~differences ~~and~~are noexpected ~~amounts accrued~~to ~~for~~affect ~~interest~~taxable ~~and penalties~~income. ~~The~~Valuation allowances ~~Company~~are isestablished, ~~currently~~when ~~not~~necessary, ~~aware~~to ofreduce ~~any~~deferred ~~issues~~tax ~~under~~assets ~~review~~to ~~that~~the ~~could~~amount ~~result~~expected into ~~significant~~be ~~payments, accruals or material deviation from its position~~realized.

The Company’s ~~may~~effective betax ~~subject~~rate towas 6.8% ~~potential~~and 0.00% ~~examination~~for bythe ~~federal,~~three ~~state~~months ~~and~~ended ~~city~~September ~~taxing~~30, ~~authorities~~2022 inand ~~the~~2021, ~~areas~~respectively, and ofwas 2.3% ~~income taxes~~and 0.00% ~~These~~for ~~potential examinations~~the ~~may~~nine ~~include~~months ~~questioning~~ended ~~the~~September ~~timing~~30, 2022 and ~~amount~~2021, ofrespectively. ~~deductions,~~The ~~the~~effective ~~nexus~~tax ofrate ~~income~~differs ~~among~~from the ~~various~~statutory tax ~~jurisdictions~~rate ~~and~~of 21% ~~compliance with~~for ~~federal,~~the ~~state~~three and ~~city~~nine ~~tax~~months ~~laws.~~ended ~~The~~September ~~Company’s~~30, ~~management~~2022 ~~does~~and ~~not~~2021, ~~expect~~primarily ~~that~~due ~~the~~to ~~total~~start-up ~~amount~~costs, changes in fair value of ~~unrecognized~~warrant ~~tax~~liability ~~benefits will~~and ~~materially~~the ~~change~~valuation ~~over~~allowance on the ~~next~~deferred ~~twelve~~income ~~months~~tax assets.

~~Unrecognized~~ASC ~~Tax~~Topic ~~Benefits~~740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2022 and December 31, 2021, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company ~~recognizes~~may ~~tax~~be ~~positions~~subject into ~~its~~potential ~~financial statements only when it is more likely than not that the position will be sustained on~~ examination by ~~the~~federal, ~~relevant~~state ~~taxing~~and ~~authority~~city ~~based~~taxing onauthorities ~~the~~in ~~technical merits of~~ the ~~position.~~areas ~~A position that meets this standard is measured at the largest amount~~ of ~~benefit~~income ~~that will more likely than not be realized on settlement~~taxes. AThese ~~liability is established for differences~~potential ~~between~~examinations ~~positions~~may ~~taken~~include inquestioning athe ~~tax~~timing ~~return~~ and ~~amounts~~amount ~~recognized~~of indeductions, the ~~financial~~nexus ~~statements.~~of ~~There~~income ~~were~~among novarious ~~unrecognized~~ tax ~~benefits~~jurisdictions asand compliance ofwith ~~June 30~~federal, ~~2022~~state and ~~December~~city ~~31,~~tax ~~2021~~laws. The Company’s ~~recognizes~~management ~~accrued~~does ~~interest~~not ~~and~~expect ~~penalties~~that ~~related~~the tototal amount of unrecognized tax benefits as ~~income~~will ~~tax~~materially ~~expense. No amounts~~change ~~were~~over ~~accrued~~the ~~for~~next ~~interest~~twelve ~~expense and penalties related to income tax matters as of June 30, 2022 and December 31, 2021~~months. ~~The Company is subject to income tax examinations by major taxing authorities since inception.~~

911

~~Net~~Inflation ~~Income~~Reduction ~~(Loss)~~Act ~~Per~~of ~~Common Share~~2022

~~The Company~~On ~~has~~August ~~two~~16, ~~classes of shares~~2022, ~~which~~the ~~are~~Inflation Reduction ~~referred~~Act toof as2022 ~~Class A common stock and Class B common stock~~ (the “~~Founder~~IR ~~Shares~~Act”)~~. Earnings~~ ~~and~~was ~~losses~~signed ~~are~~into ~~shared~~federal ~~pro~~law. ~~rata~~The ~~between~~IR ~~the~~Act ~~two~~provides ~~classes~~for, ofamong ~~shares.~~other ~~Private~~things, ~~Placement~~a ~~Warrants~~new ~~and~~U.S. federal ~~public~~1% ~~Warrants~~excise totax ~~purchase 5,950,000 shares of~~on ~~Class~~certain Arepurchases ~~common~~if stock atby ~~$11.50 per~~publicly ~~share~~traded ~~were~~U.S. ~~issued~~domestic incorporations ~~connection~~and ~~with~~certain ~~the~~U.S. ~~Public~~domestic ~~Offering and exercise~~ subsidiaries of ~~the~~public ~~overallotment. At~~traded ~~June~~foreign ~~30,~~corporations ~~2022,~~occurring noon ~~Warrants~~or ~~have~~after ~~been~~January ~~exercised~~1, 2023. The ~~5,950,000 potential~~ ~~shares~~excise oftax ~~Class~~is Aimposed ~~common~~on ~~stock~~the ~~issuable~~repurchasing ~~upon exercise~~corporation ofitself, ~~the~~not ~~outstanding~~its ~~Warrants~~shareholders ~~to purchase the Company’s stock were excluded~~ from ~~diluted~~which ~~earnings~~shares ~~per~~are ~~share~~repurchased. ~~for~~The ~~the~~amount ~~three~~of ~~and~~excise ~~six months~~tax ~~ended~~is ~~June~~generally ~~30,~~1% ~~2022,~~of ~~because~~ the ~~Warrants~~fair ~~are~~market ~~contingently~~value ~~exercisable,~~of ~~and~~ the shares ~~contingencies~~repurchased ~~have~~at ~~not~~the ~~yet~~time ~~been~~of ~~met~~repurchase. ~~Basic~~However, ~~and diluted~~for ~~earnings~~purposes ~~per~~of ~~share~~calculating ~~for~~ the ~~three~~excise ~~and six months ended June 30~~tax, ~~2021~~repurchasing ~~gives~~corporations ~~effect~~are ~~retroactively~~permitted to asnet ofthe ~~January~~fair 1,market ~~2021~~value ~~to the shares~~ of ~~Class~~certain Bnew ~~common~~ stock ~~that~~issuances ~~were~~against ~~outstanding~~the asfair amarket ~~result~~value of ~~the~~stock ~~Public~~repurchases ~~Offering.~~during ~~During~~ the ~~three~~same ~~and six months ended June 30, 2021,~~taxable ~~the~~year. ~~dilutive~~In ~~impact of the 562~~addition,~~500 shares~~ ofcertain ~~Class~~exceptions Bapply ~~common stock that were subject~~ to ~~forfeiture and contingently issuable upon completion of~~ the ~~Public~~excise ~~Offering were antidilutive~~tax. The ~~table~~U.S. ~~below~~Department ~~presents a reconciliation~~ of Treasury (the ~~numerator~~“Treasury”) ~~and~~has ~~denominator~~been given ~~used~~authority to ~~compute~~provide ~~basic~~regulations and ~~diluted~~other ~~net~~guidance ~~income~~to ~~(loss)~~carry ~~per~~out ~~share~~and ~~for~~prevent ~~each~~the ~~class~~abuse or avoidance of ~~common~~the ~~stock:~~excise tax.

	Three Months Ended June 30,
	2022				2021
	Class A		Class B		Class A			Class B
Basic and diluted net income per share:
Numerator:
Allocation of net income (loss)	$	949,432	$	229,380	$	(959,822	)	$	(439,935	)
Denominator:
Weighted average shares outstanding		17,850,000		4,312,500		8,950,220			4,102,335
Basic and diluted net income (loss) per share	$	0.05	$	0.05	$	(0.11	)	$	(0.11	)

Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchase in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics or any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination.

	Six Months Ended June 30,
	2022				2021
	Class A		Class B		Class A			Class B
Basic and diluted net income per share:
Numerator:
Allocation of net income (loss)	$	2,133,581	$	515,466	$	(723,663	)	$	(676,544	)
Denominator:
Weighted average shares outstanding		17,850,000		4,312,500		4,499,834			4,206,837
Basic and diluted net income (loss) per share	$	0.12	$	0.12	$	(0.16	)	$	(0.16	)

Unrecognized Tax Benefits

~~Concentration~~The Company recognizes tax positions in its financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of ~~Credit~~the ~~Risk~~position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. There were no unrecognized tax benefits as of September 30, 2022 and December 31, 2021. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for interest expense and penalties related to income tax matters as of September 30, 2022 and December 31, 2021. The Company is subject to income tax examinations by major taxing authorities since inception.

~~Financial~~Net ~~instruments~~Income ~~that~~Per ~~potentially~~Common subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on these accounts.Share

~~Fair~~The Company has two classes ~~Value~~of shares, which are referred to as Class A common stock and Class B common stock (the “Founder Shares”). Earnings and losses are shared pro rata between the two classes of ~~Financial~~shares. ~~Instruments~~Private Placement Warrants and public Warrants to purchase 5,950,000 shares of Class A common stock at $11.50 per share were issued in connection with the Public Offering and exercise of the overallotment. At September 30, 2022, no Warrants have been exercised. The 5,950,000 potential shares of Class A common stock issuable upon exercise of the outstanding Warrants to purchase the Company’s stock were excluded from diluted earnings per share for the three and nine months ended September 30, 2022, because the Warrants are contingently exercisable, and the contingencies have not yet been met. Basic and diluted earnings per share for the three and nine months ended September 30, 2021 gives effect retroactively as of January 1, 2021 to the shares of Class B common stock that were outstanding as a result of the Public Offering. During the three and nine months ended September 30, 2021, the dilutive impact of the 562,500 shares of Class B common stock that were subject to forfeiture and contingently issuable upon completion of the Public Offering were antidilutive. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock:

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

	Three Months Ended September 30,
	2022				2021
	Class A		Class B		Class A		Class B
Basic and diluted net income per share:
Numerator:
Allocation of net income	$	946,027	$	228,557	$	1,859,068	$	449,144
Denominator:
Weighted average shares outstanding		17,850,000		4,312,500		17,850,000		4,312,500
Basic and diluted net income per share	$	0.05	$	0.05	$	0.10	$	0.10

The Company follows the guidance in ASC Topic 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.

	Nine Months Ended September 30,
	2022				2021
	Class A		Class B		Class A		Class B
Basic and diluted net income per share:
Numerator:
Allocation of net income	$	3,079,608	$	744,023	$	617,083	$	290,922
Denominator:
Weighted average shares outstanding		17,850,000		4,312,500		8,998,791		4,242,445
Basic and diluted net income per share	$	0.17	$	0.17	$	0.07	$	0.07

1012

~~The~~Concentration ~~fair value~~ of ~~the~~Credit Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:Risk

~~Level~~Financial instruments 1:that ~~Quoted~~potentially ~~prices~~subject inthe ~~active~~Company ~~markets~~to ~~for~~concentrations ~~identical~~of ~~assets~~credit orrisk ~~liabilities.~~consist Anof ~~active~~cash ~~market~~accounts ~~for~~in ~~an asset or liability is~~ a ~~market~~financial in institution, which, ~~transactions~~at ~~for~~times, ~~the~~may ~~asset~~exceed orthe ~~liability~~Federal ~~occur~~Depository ~~with~~Insurance ~~sufficient~~Coverage ~~frequency~~of ~~and~~$250,000. ~~volume~~The toCompany ~~provide~~has ~~pricing~~not ~~information~~experienced losses on anthese ~~ongoing basis~~accounts.

~~Level~~Fair Value ~~2: Observable inputs other than Level 1 inputs. Examples~~ of ~~Level~~Financial ~~2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.~~Instruments

~~Level~~The fair 3:value ~~Unobservable~~of ~~inputs~~the ~~based~~Company’s onassets ~~our~~and ~~assessment~~liabilities, ofwhich ~~the~~qualify ~~assumptions~~as ~~that~~financial ~~market~~instruments ~~participants~~under ~~would~~ASC ~~use~~Topic in820, ~~pricing~~“Fair Value Measurement,” approximates the ~~asset~~carrying oramounts ~~liability~~represented in the balance sheet, primarily due to their short-term nature.

The Company’s ~~Warrants~~follows ~~are~~the ~~accounted~~guidance ~~for as liabilities~~ in ~~accordance with~~ ASC ~~815-40~~Topic ~~and~~820 ~~are~~for ~~presented~~its ~~within~~financial ~~warrant~~assets ~~liabilities on~~and ~~the condensed balance sheet. The warrant~~ liabilities that are re-measured and reported at fair value at ~~inception~~each ~~and~~reporting onperiod, aand ~~recurring~~non-financial ~~basis,~~assets ~~with~~and ~~changes in~~liabilities ~~fair~~that ~~value~~are ~~presented~~re-measured ~~within~~and ~~change~~reported inat fair value ofat ~~warrant~~least ~~liabilities in the condensed statements of operations~~annually. ~~The public Warrants commenced separate trading on June 28, 2021.~~

~~See~~The ~~Note~~fair 4value ~~for~~of ~~additional~~the ~~information~~Company’s onfinancial assets and liabilities ~~measured~~reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

~~Recent Accounting~~Level ~~Pronouncements~~1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

~~In August~~Level ~~2020,~~2: ~~the~~Observable ~~FASB~~inputs ~~issued~~other ~~Accounting~~than ~~Standards~~Level ~~Update~~1 ~~(“ASU”) No~~inputs. ~~2020-06,~~Examples ~~“Debt—Debt~~of ~~with~~Level ~~Conversion~~2 ~~and Other~~inputs ~~Options~~include ~~(Subtopic~~quoted ~~470-20)~~prices ~~and Derivatives and Hedging—Contracts~~ in ~~Entity’s~~active ~~Own~~markets ~~Equity (Subtopic 815-40): Accounting~~ for ~~Convertible~~similar ~~Instruments~~assets ~~and~~or ~~Contracts~~liabilities in an Entity’s Own Equity”, which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and itquoted ~~simplifies~~prices ~~the diluted earnings per share calculation in certain areas. The new standard is effective~~ for ~~the~~identical ~~Company~~assets ~~on January 1, 2024, although early adoption is permitted. The ASU allows the use of the modified retrospective method~~ or ~~the~~liabilities ~~fully retrospective method. The Company is still~~ in ~~the~~markets ~~process~~that ofare ~~evaluating the impact of this new standard; however, the Company does~~ not ~~believe the initial impact of adopting the standard will result in any changes to the Company’s statements of financial position, operations or cash flows~~active.

~~In June~~Level ~~2022,~~3: ~~the~~Unobservable ~~FASB~~inputs ~~issued~~based ~~ASU~~on ~~2022-03,~~our ~~ASC~~assessment ~~Subtopic 820 “Fair Value Measurement~~ of ~~Equity~~the ~~Securities~~assumptions ~~Subject to Contractual Sale Restrictions”. The ASU amends ASC 820 to clarify~~ that amarket ~~contractual~~participants ~~sales~~would ~~restriction~~use ~~is not considered~~ in ~~measuring~~pricing an equity security at fair value and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The ASU applies to both holders and issuers of equity and equity-linked securities measured at fair value. The amendments in this ASU are effective for the ~~Company~~asset in fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or ~~made available for issuance~~liability. ~~The Company is considering the impact of this pronouncement on the financial statements.~~

11The Company’s Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the condensed balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the condensed statements of operations. The public Warrants commenced separate trading on June 28, 2021.

~~NOTE~~See 3Note —4 ~~RELATED~~for ~~PARTY~~additional ~~TRANSACTIONS~~information on assets and liabilities measured at fair value.

~~Founder~~Recent ~~Shares~~Accounting Pronouncements

OnIn ~~June 22,~~August 2020, ~~7,187,500 Founder~~ ~~Shares~~the ~~were~~FASB issued toAccounting B.Standards ~~Riley~~Update ~~Principal~~(“ASU”) ~~Investments, LLC~~No. ~~All of the Founder Shares were contributed to the Sponsor in June~~ 2020~~. Subsequently~~-06, on“Debt—Debt ~~April 19,~~with ~~2021,~~Conversion ~~the~~and ~~Sponsor surrendered 2,875,000 Founder~~Other ~~Shares~~Options to(Subtopic ~~the~~470-20) ~~Company~~and ~~for~~Derivatives noand ~~consideration,~~Hedging—Contracts ~~resulting~~ in ~~the~~Entity’s ~~Sponsor~~Own ~~owning 4,312,500 Founder~~Equity ~~Shares~~ (~~Note~~Subtopic 6815-40).: AsAccounting ~~used~~for ~~herein,~~Convertible ~~unless~~Instruments ~~the~~and ~~context~~Contracts ~~otherwise~~in ~~requires,~~an ~~Founder~~Entity’s ~~Shares~~Own ~~shall~~Equity”, bewhich ~~deemed~~simplifies toaccounting ~~include~~for ~~the~~convertible ~~shares~~instruments ofby ~~Class~~removing major Aseparation ~~common~~models ~~stock~~required ~~issuable~~under ~~upon~~current ~~conversion thereof~~U.S. GAAP. The ~~Founder~~ASU ~~Shares~~also ~~are~~removes ~~identical~~certain tosettlement ~~the~~conditions ~~Class~~that Aare ~~common~~required ~~stock~~for ~~included~~equity-linked contracts into ~~the~~qualify ~~Public~~for ~~Units~~the ~~sold~~derivative inscope ~~the~~exception, ~~Public~~and ~~Offering,~~it ~~except that~~simplifies the ~~Founder~~diluted ~~Shares~~earnings ~~automatically~~per ~~convert~~share ~~into~~calculation ~~shares~~in ofcertain ~~Class~~areas. The Anew ~~common~~standard ~~stock~~is ateffective ~~the~~for ~~time of~~ the ~~Initial~~Company ~~Business~~on ~~Combination~~January ~~and are~~1, ~~subject to certain transfer restrictions~~2024, asalthough ~~described~~early inadoption ~~more~~is ~~detail~~permitted. ~~below,~~The ~~and~~ASU allows the ~~holders~~use of the ~~Founder Shares, as described~~ inmodified ~~more~~retrospective ~~detail~~method ~~below,~~or ~~have~~the ~~agreed~~fully toretrospective ~~certain~~method. ~~restrictions~~The ~~and~~Company ~~will~~is ~~have~~still ~~certain~~in ~~registration~~the ~~rights~~process ~~with~~of ~~respect~~evaluating ~~thereto.~~the ~~The~~impact ~~number~~ of ~~Founder~~this new ~~Shares~~standard; ~~issued~~however, ~~was~~the ~~determined~~Company ~~based~~does onnot ~~the~~believe ~~expectation that~~ the ~~Founder~~initial ~~Shares~~impact ~~would represent 20%~~ of adopting the ~~outstanding shares~~standard ofwill ~~common~~result ~~stock~~in ~~upon~~any ~~completion~~changes ofto the ~~Public~~Company’s statements ~~Offering~~of ~~excluding~~financial ~~the~~position, ~~Private~~operations ~~Placement~~or ~~Shares~~cash flows.

~~The~~In ~~Company’s~~June ~~Sponsor~~2022, ~~officers~~the ~~and~~FASB ~~directors~~issued ~~have~~ASU ~~agreed~~2022-03, ~~subject~~ASC toSubtopic ~~limited~~820 ~~exceptions,~~“Fair ~~not~~Value toMeasurement ~~transfer,~~of ~~assign~~Equity orSecurities ~~sell~~Subject ~~any~~to ~~Founder~~Contractual Sale ~~Shares~~Restrictions”. ~~held~~The byASU ~~them~~amends ~~until~~ASC ~~the~~820 ~~earlier~~ to ~~occur~~clarify ~~of:~~that ~~(i)~~a ~~one~~contractual ~~year~~sales ~~after~~restriction ~~the~~is ~~completion~~not ofconsidered ~~the~~in ~~Initial~~measuring ~~Business~~an ~~Combination,~~equity ~~(ii) the last~~security ~~sale~~at ~~price~~fair ofvalue ~~Class~~and Ato ~~common~~introduce ~~stock~~new ~~equals~~disclosure orrequirements ~~exceeds~~for ~~$12.00 per~~equity ~~share~~securities ~~(as~~subject ~~adjusted~~to ~~for~~contractual ~~stock~~sale ~~splits,~~restrictions ~~stock~~that ~~dividends,~~are ~~reorganizations,~~measured ~~recapitalizations~~at ~~and~~fair ~~the~~value. ~~like)~~The ~~for~~ASU ~~any 20 trading~~applies ~~days~~to ~~within~~both ~~any 30~~holders and issuers of equity and equity-~~trading day~~linked ~~period~~securities ~~commencing~~measured at ~~least~~fair ~~150 days~~value. ~~after~~The ~~the~~amendments in ~~Initial~~this ~~Business~~ASU ~~Combination,~~are oreffective ~~(iii)~~for the ~~date~~Company ~~following~~in ~~the~~fiscal ~~completion~~years ofbeginning ~~the~~after ~~Initial~~December ~~Business~~15, ~~Combination~~2023, onand ~~which the~~interim ~~Company~~periods ~~completes~~within athose ~~liquidation,~~fiscal ~~merger,~~years. Early ~~stock~~adoption ~~exchange,~~is ~~reorganization~~permitted orfor ~~other~~both ~~similar~~interim ~~transaction~~and annual financial statements that ~~results~~have innot ~~all~~yet ofbeen ~~the~~issued ~~stockholders having~~or ~~the~~made ~~right~~available tofor ~~exchange~~issuance. The ~~their~~Company ~~shares~~is ofconsidering ~~common~~the ~~stock~~impact ~~for~~of ~~cash,~~this ~~securities~~pronouncement oron ~~other~~the ~~property~~financial statements.

~~Business Combination Marketing Agreement~~13

Pursuant to a business combination marketing agreement, the Company engaged B. Riley Securities, Inc. as advisors in connection with its Initial Business Combination to assist it in arranging meetings with its stockholders to discuss a potential business combination and the target business’ attributes, introduce it to potential investors that may be interested in purchasing its securities, assist it in obtaining stockholder approval for its Initial Business Combination and assist it with the preparation of press releases and public filings in connection with the Initial Business Combination. The Company will pay B. Riley Securities, Inc. for such services upon the consummation of the Initial Business Combination a cash fee in an amount equal to NOTE 3~~.5%~~ of— ~~the~~RELATED ~~gross~~PARTY proceeds of the Public Offering (exclusive of any applicable finders’ fees which might become payable) ($6,037,500 since the underwriters’ over-allotment option was exercised in full). Pursuant to the terms of the business combination marketing agreement, no fee will be due if the Company does not complete an Initial Business Combination.TRANSACTIONS

~~Administrative~~Founder ~~Fees~~Shares

~~Commencing~~On ~~on May 11~~June 22, ~~2021~~2020, 7,187,500 Founder ~~the~~Shares ~~Company~~were ~~agreed~~issued to ~~pay~~B. anRiley ~~affiliate~~Principal Investments, LLC. All of the Founder Shares were contributed to the Sponsor ain ~~total~~June of2020. $3Subsequently,~~750~~ on April ~~per~~19, ~~month~~2021, the Sponsor surrendered 2,875,000 Founder Shares to the Company for ~~office~~no ~~space~~consideration, ~~utilities~~resulting ~~and secretarial~~in ~~and~~the ~~administrative~~Sponsor ~~support~~owning 4,312,500 Founder Shares (Note 7). ~~Upon~~As ~~completion~~used ofherein, unless the ~~Initial~~context ~~Business~~otherwise ~~Combination~~requires, orFounder Shares shall be deemed to include the ~~Company’s~~shares ~~liquidation,~~of itClass ~~will cease~~A ~~paying~~common ~~these~~stock ~~monthly~~issuable ~~fees~~upon conversion thereof. AtThe ~~June~~Founder ~~30,~~Shares ~~2022~~are ~~and~~identical ~~December~~to ~~31,~~the ~~2021~~Class A common stock included in the Public Units sold in the Public Offering, ~~amounts~~except that ~~due~~the Founder Shares automatically convert into shares of Class A common stock at the time of the Initial Business Combination and are subject to ~~related~~certain ~~party~~transfer ~~includes~~restrictions, ~~$50~~as described in more detail below,~~198~~ and ~~$27~~the holders of the Founder Shares,~~698,~~ as described in ~~respectively, for~~more ~~administrative~~detail ~~fees~~below, ~~payable~~have agreed to ~~the~~certain ~~Sponsor~~restrictions and will have certain registration rights with respect thereto. The ~~Company~~number ~~incurred~~of ~~administrative~~Founder Shares ~~fees~~issued ofwas ~~$11,250~~determined ~~and~~based ~~$22,500~~on ~~during~~ the ~~three~~expectation ~~and~~that ~~six~~the ~~months~~Founder ~~ended~~Shares ~~June~~would ~~30,~~represent 20% ~~2022~~of ~~and~~the ~~$7,500~~outstanding ~~during~~shares ~~each~~of common stock upon completion of the ~~three~~Public ~~and~~Offering ~~six~~excluding ~~months~~the ~~ended~~Private ~~June~~Placement ~~30, 2021~~Shares.

~~Due~~The Company’s Sponsor, officers and directors have agreed, subject to ~~Related~~limited ~~Party~~exceptions, not to transfer, assign or sell any Founder Shares held by them until the earlier to occur of: (i) one year after the completion of the Initial Business Combination, (ii) the last sale price of Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Initial Business Combination, or (iii) the date following the completion of the Initial Business Combination on which the Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the stockholders having the right to exchange their shares of common stock for cash, securities or other property.

~~Amounts~~Business ~~owed~~Combination toMarketing ~~Sponsor for advances of operating expenses were $50,198 and $27,698 at June 30, 2022 and December 31, 2021, respectively.~~ Agreement

~~Any amounts~~Pursuant ~~payable~~ to ~~our~~a ~~Sponsor~~business combination ormarketing inagreement, the ~~event~~Company ~~there~~engaged ~~may~~B. beRiley aSecurities, ~~future~~Inc. ~~working~~as ~~capital~~advisors ~~loan~~in ~~from~~connection ~~our~~with ~~Sponsor~~any ~~these~~Initial ~~amounts~~Business Combination ~~would~~to beassist ~~repaid from~~it ~~funds~~in ~~held~~arranging ~~outside~~meetings ~~the~~with ~~Trust~~its ~~Account~~stockholders orto ~~from~~discuss ~~funds~~a ~~released~~potential tobusiness combination and the ~~Company~~target business’ ~~upon~~attributes, ~~completion~~introduce ofit ~~the~~to ~~Initial~~potential ~~Business~~investors ~~Combination. Up~~that tomay ~~$1,500,000 of~~be ~~such~~interested ~~working~~in ~~capital~~purchasing ~~loans~~its securities, inassist ~~the~~it ~~event~~in obtaining ~~there~~stockholder ~~are~~approval for any ~~outstanding~~Initial ~~amounts~~Business atCombination ~~the~~and ~~time~~assist ofit with the ~~completion~~preparation of press releases and public ~~the~~filings in connection with an Initial Business Combination. The Company will pay B. Riley Securities, ~~may~~Inc. befor ~~convertible~~such ~~into~~services ~~private~~upon the ~~placement-equivalent~~consummation ~~units~~of atan Initial Business Combination a ~~price~~cash offee ~~$10.00 per~~in ~~unit~~an atamount ~~the option~~equal to 3.5% of the ~~lender.~~gross ~~None~~proceeds of ~~our~~the ~~Sponsor,~~Public Offering ~~members~~(exclusive of ~~our~~any ~~management~~applicable ~~team~~finders’ ~~nor~~fees ~~any~~which ofmight ~~their~~become ~~affiliates~~payable) is($6,037,500 since ~~under~~the ~~any~~underwriters’ over-allotment option ~~obligation~~was exercised in full). Pursuant to ~~advance~~the terms of the business combination marketing agreement, no fee ~~funds~~will ~~for~~be ~~working~~due ~~capital~~if ~~loans~~the Company does not complete an Initial Business Combination.

12Administrative Fees

~~NOTE~~Commencing on May 11, 2021, 4the —Company ~~RECURRING~~agreed ~~FAIR~~to ~~VALUE~~pay ~~MEASUREMENTS~~an affiliate of the Sponsor a total of $3,750 per month for office space, utilities and secretarial and administrative support. Upon completion of the Initial Business Combination or the Company’s liquidation, it will cease paying these monthly fees. At September 30, 2022 and December 31, 2021, amounts due to related party includes $61,448 and $27,698, respectively, for administrative fees payable to the Sponsor. The Company incurred administrative fees of $11,250 and $33,750 during the three and nine months ended September 30, 2022 and $11,250 and $20,198 during the three and nine months ended September 30, 2021, respectively.

~~The~~Due following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to ~~determine~~Related ~~such fair value.~~Party

			Quoted		Significant		Significant
			Prices In		Other		Other
			Active		Observable		Observable
	June 30,		Markets		Inputs		Inputs
	2022		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments held in Trust Account (1)	$	172,752,590	$	172,752,590	$	—	$	—
		172,752,590		172,752,590		—		—
Liabilities:
Public Warrants	$	1,610,000	$	1,610,000	$	—	$	—
Private Placement Warrants		60,000		—		—		60,000
Warrant Liability	$	1,670,000	$	1,610,000	$	—	$	60,000

Amounts owed to Sponsor for advances of operating expenses were $61,448 and $27,698 at September 30, 2022 and December 31, 2021, respectively.

			Quoted		Significant		Significant
			Prices In		Other		Other
			Active		Observable		Observable
	December 31,		Markets		Inputs		Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments held in Trust Account (1)	$	172,507,535	$	172,507,535	$	—	$	—
		172,507,535		172,507,535		—		—
Liabilities:
Public Warrants	$	4,600,000	$	4,600,000	$	—	$	—
Private Placement Warrants		166,000		—		—		166,000
Warrant Liability	$	4,766,000	$	4,600,000	$	—	$	166,000

Any amounts payable to our Sponsor or in the event there may be a future working capital loan from our Sponsor these amounts would be repaid from funds held outside the Trust Account or from funds released to the Company upon completion of the Initial Business Combination. Up to $1,500,000 of such working capital loans, in the event there are any outstanding amounts at the time of the completion of the Initial Business Combination, may be convertible into private placement-equivalent units at a price of $10.00 per unit at the option of the lender. None of our Sponsor, members of our management team nor any of their affiliates is under any obligation to advance funds for working capital loans.

~~(1) - The fair value of the investments held in the Trust Account approximates the carrying amounts primarily due to the short-ternm nature.~~14

~~Transfers~~NOTE ~~to/from~~4 ~~Levels~~— 1,RECURRING 2,FAIR ~~and~~VALUE ~~3 are recognized at the end of the reporting periods. There were no transfers to/from Level 1, 2 or 3 measurements during the six months ended June 30, 2022.~~MEASUREMENTS

~~Warrant~~The ~~Liability~~following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

The Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the Condensed Balance Sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the Condensed Statements of Operations.

			Quoted		Significant		Significant
			Prices In		Other		Other
			Active		Observable		Observable
	September 30,		Markets		Inputs		Inputs
	2022		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments held in Trust Account (1)	$	173,216,348	$	173,216,348	$	—	$	—
		173,216,348		173,216,348		—		—

Liabilities:
Public Warrants	$	632,500	$	632,500	$	—	$	—
Private Placement Warrants		26,000		—		—		26,000
Warrant Liability	$	658,500	$	632,500	$	—	$	26,000

The Company values the Public Warrants at the closing trading price at the end of the reporting period. A Modified Black-Scholes model is used to value the Private Placement Warrants at each reporting period. The changes in fair value of warrants is recognized as part of other income in the Condensed Statements of Operations. Inherent in a binomial options pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its common stock based on historical volatility that matches the expected remaining life of the Private Placement Warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the Private Placement Warrants. The expected life of the Private Placement Warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero.

			Quoted		Significant		Significant
			Prices In		Other		Other
			Active		Observable		Observable
	December 31,		Markets		Inputs		Inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments held in Trust Account (1)	$	172,507,535	$	172,507,535	$	—	$	—
		172,507,535		172,507,535		—		—

Liabilities:
Public Warrants	$	4,600,000	$	4,600,000	$	—	$	—
Private Placement Warrants		166,000		—		—		166,000
Warrant Liability	$	4,766,000	$	4,600,000	$	—	$	166,000

13(1) - The fair value of the investments held in the Trust Account approximates the carrying amounts primarily due to the short-ternm nature.

~~The~~Transfers ~~key~~to/from ~~inputs~~Levels ~~into~~1, ~~the~~2, ~~Black-Scholes~~and ~~Model~~3 inare ~~determining~~recognized at the ~~fair~~end ~~value~~ of the ~~Private~~reporting ~~Placement~~periods. ~~Warrants~~There were asno ~~follows~~transfers atto/from ~~June~~Level 301, ~~2022~~2 or 3 measurements ~~and~~during ~~December~~the 31nine months ended September 30, ~~2021:~~2022.

	June 30,			December 31,
Input	2022			2021
Risk-free interest rate		3.00	%		1.30	%
Expected term (years)		5.90			5.60
Expected volatility		2.6	%		13.0	%
Exercise price	$	11.50		$	11.50
Dividend yield		0.0	%		0.0	%

Warrant Liability

The ~~change~~Warrants are accounted for as liabilities in ~~Level~~accordance 3with ~~measurements~~ASC ~~during~~815-40 and are presented within warrant liabilities on the ~~six~~Condensed Balance ~~months~~Sheets. ~~ended~~The ~~June~~warrant 30liabilities are measured at fair value at inception and on a recurring basis, ~~2022~~with ischanges asin ~~follows:~~fair value presented within change in fair value of warrant liabilities in the Condensed Statements of Operations.

Private warrant liability at January 1, 2022	$	166,000
Change in fair value of private warrant liability		(106,000	)
Private warrant liability at June 30, 2022	$	60,000

~~NOTE 5 — COMMITMENTS~~15

~~Registration~~The key inputs into the Black-Scholes ~~Rights~~Model in determining the fair value of the Private Placement Warrants were as follows at September 30, 2022 and December 31, 2021:

The holders of Founder Shares (and any shares of Class A common stock issuable upon conversion of the Founder Shares), Private Placement Units, Private Placement Shares, Private Placement Warrants (and any shares of Class A common stock issuable upon the exercise of the Private Placement Warrants) and any securities that may be issued upon conversion of working capital loans, if any, have registration rights to require the Company to register the resale of any of its securities held by them (in the case of the Founder Shares, only after conversion of such shares to shares of Class A common stock) pursuant to a registration rights agreement. These holders are also entitled to certain piggyback registration rights. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period for the securities to be registered. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

	September 30,			December 31,
Input	2022			2021
Risk-free interest rate		4.00	%		1.30	%
Expected term (years)		5.70			5.60
Expected volatility		5.0	%		13.0	%
Exercise price	$	11.50		$	11.50
Dividend yield		0.0	%		0.0	%

~~NOTE~~The change in Level 3 measurements 6during —the ~~WARRANTS~~nine months ended September 30, 2022 is as follows:

Warrants may only be exercised for a whole number of shares. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. The Warrants will become exercisable 30 days after the completion of the Initial Business Combination, provided that the Company has an effective registration statement under the Securities Act covering the shares of Class A common stock issuable upon exercise of the Warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their Warrants on a cashless basis and such cashless exercise is exempt from registration under the Securities Act). The Company will as soon as practicable, but in no event later than 15 business days, after the closing of the Initial Business Combination, use its best efforts to file with the SEC a new registration statement for the registration under the Securities Act of the shares of Class A common stock issuable upon exercise of the Warrants, to cause the same to become effective within 60 business days after the closing of the Initial Business Combination and to maintain a current prospectus relating to those shares of Class A common stock until the Warrants expire or are redeemed, as specified in the Company’s warrant agreement. If the shares issuable upon exercise of the Warrants are not registered under the Securities Act by the 60th business day after the closing of the Initial Business Combination, the Company will be required to permit holders to exercise their Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Company’s Class A common stock is at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company elects, the Company will not be required to file or maintain in effect a registration statement, but the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

Private warrant liability at January 1, 2022	$	166,000
Change in fair value of private warrant liability		(140,000	)
Private warrant liability at September 30, 2022	$	26,000

14NOTE 5 — COMMITMENTS

~~The~~Registration ~~Warrants will expire at 5:00 p.m., New York City time, five years after the completion of an Initial Business Combination or earlier upon redemption or liquidation.~~Rights

The ~~Private~~ ~~Placement~~holders ~~Warrants~~of ~~are~~Founder ~~identical~~Shares (and toany ~~the~~shares ~~Warrants~~of ~~underlying~~Class ~~the~~A ~~Units~~common ~~sold~~stock inissuable upon conversion of the ~~Public~~Founder ~~Offering~~Shares), ~~except~~Private ~~that~~Placement ~~the~~Units, Private Placement Shares, Private Placement Warrants (and ~~the~~any shares of Class A common stock issuable upon the exercise of the Private Placement Warrants) ~~will~~and ~~not~~any securities that may be ~~transferable~~issued upon conversion of working capital loans, ~~assignable or~~if ~~salable~~any, ~~until~~have 30registration ~~days~~rights ~~after~~to require the ~~completion~~Company to register the resale of any of its securities held by them (in the ~~Initial~~case ~~Business~~of ~~Combination~~the Founder Shares, ~~subject~~only toafter ~~certain~~conversion ~~limited~~of ~~exceptions.~~such ~~Additionally,~~shares to shares of ~~the~~Class A ~~Private~~common ~~Placement~~stock) ~~Warrants~~pursuant ~~will~~to bea ~~non-redeemable~~registration sorights ~~long~~agreement. asThese ~~they~~holders are ~~held~~also byentitled ~~the~~to ~~Sponsor~~certain orpiggyback ~~its~~registration rights. ~~permitted~~However, ~~transferees.~~the Ifregistration rights agreement provides that the ~~Private Placement~~Company ~~Warrants~~will ~~are~~not ~~held~~permit byany ~~someone~~registration ~~other~~statement ~~than~~filed under the Securities ~~Sponsor~~Act orto ~~its~~become ~~permitted~~effective ~~transferees,~~until termination of the ~~Private~~applicable ~~Placement~~lock-up ~~Warrants~~period ~~will~~for the securities to be ~~redeemable by~~registered. ~~the~~The Company will ~~and~~bear ~~exercisable~~the byexpenses ~~such~~incurred ~~holders~~in onconnection with the ~~same~~filing ~~basis~~of asany ~~the~~such ~~Warrants~~registration statements.

~~The~~NOTE ~~Company~~6 ~~may~~— ~~call the Warrants for redemption (except with respect to the Private Placement Warrants):~~WARRANTS

●Warrants may inonly be exercised for a whole number of shares. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. The Warrants will become exercisable 30 days after the completion of the Initial Business Combination, provided that the Company has an effective registration statement under the Securities Act covering the shares of Class A common stock issuable upon exercise of the Warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their Warrants on a cashless basis and such cashless exercise is exempt from registration under the Securities Act). The Company will as soon as practicable, but in no event later than 15 business days, after the closing of the Initial Business Combination, use its best efforts to file with the SEC a new registration statement for the registration under the Securities Act of the shares of Class A common stock issuable upon exercise of the Warrants, to cause the same to become effective within 60 business days after the closing of the Initial Business Combination and to maintain a current prospectus relating to those shares of Class A common stock until the Warrants expire or are redeemed, as specified in the Company’s warrant agreement. If the shares issuable upon exercise of the Warrants are not registered under the Securities Act by the 60th business day after the closing of the Initial Business Combination, the Company will be required to permit holders to exercise their Warrants on a “cashless basis” in ~~part;~~accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Company’s Class A common stock is at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company elects, the Company will not be required to file or maintain in effect a registration statement, but the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

●The Warrants will expire at a5:00 ~~price~~p.m., New York City time, five years after the completion of ~~$0.01~~an ~~per~~Initial ~~warrant;~~Business Combination or earlier upon redemption or liquidation.

~~● upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and~~16

●The Private ~~if,~~Placement ~~and~~Warrants ~~only~~are ~~if,~~identical to the ~~last~~Warrants ~~sale~~underlying ~~price~~the ofUnits sold in the Public Offering, except that the Private Placement Warrants and the shares of Class A common stock ~~equals~~issuable orupon ~~exceeds~~exercise ~~$18.00~~of ~~per~~the ~~share~~Private ~~(as~~Placement ~~adjusted~~Warrants ~~for~~will ~~stock~~not ~~splits~~be transferable, ~~stock~~assignable or ~~dividends,~~salable ~~reorganizations,~~until ~~recapitalizations~~30 ~~and~~days after the ~~like)~~completion ~~for~~of ~~any~~the 20Initial ~~trading~~Business ~~days~~Combination, ~~within~~subject ato 30certain limited exceptions. Additionally, the Private Placement Warrants will be non-~~trading~~redeemable ~~day~~so ~~period~~long ~~ending~~as onthey are held by the ~~third~~Sponsor ~~trading~~or ~~day~~its ~~prior~~permitted totransferees. If the ~~date~~Private Placement onWarrants ~~which~~are held by someone other than the ~~Company~~Sponsor ~~sends~~or its permitted transferees, the ~~notice~~Private ofPlacement ~~redemption~~Warrants towill be redeemable by the ~~warrant~~Company and exercisable by such holders on the same basis as the Warrants.

IfThe ~~the~~ Company ~~calls~~may call the Warrants for redemption, ~~management~~(except ~~will~~with ~~have~~respect ~~the option~~ to ~~require all holders that wish to exercise~~ the ~~Warrants to~~Private doPlacement ~~so on a “cashless basis,” as described in the warrant agreement.~~Warrants):

~~The exercise~~● ~~price and number of shares of Class A common stock issuable upon exercise of the Warrants may be adjusted~~ in ~~certain~~whole circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. In addition, if (x) the Company issues additional shares of Class A common stock or securities convertible into or exercisable or exchangeable for shares of Class A common stock for capital raising purposes in connection with the closing of the Initial Business Combination, at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, innot the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance (the “Newly Issued Price”)), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for funding the Initial Business Combination, and (z) the volume weighted average trading price of the Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the Initial Business Combination (the “Market Value”) is below $9.20 per share, the exercise price of the Warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. Additionally, in no event will the Company be required to net cash settle any Warrant. In the event that a registration statement is not effective for the exercised Warrants, the purchaser of a Unit containing such Warrant will have paid the full purchase price for the Unit solely for the share of Class A common stock underlying such Unit. There will be no redemption rights or liquidating distributions with respect to the Warrants, which will expire worthless if the Company fails to complete an Initial Business Combination by May 11, 2023.part;

~~As more~~● ~~fully~~at ~~described~~a inprice ~~Note 2, the Company accounts for the warrants for shares~~ of ~~the~~$0.01 ~~Company’s~~per ~~common stock as a liability since they are not indexed to the Company’s stock.~~warrant;

15● upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and

~~NOTE 7~~● —if, ~~STOCKHOLDERS’ DEFICIT~~and only if, the last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

~~Common~~If ~~Stock~~the Company calls the Warrants for redemption, management will have the option to require all holders that wish to exercise the Warrants to do so on a “cashless basis,” as described in the warrant agreement.

The ~~authorized~~exercise ~~common~~price ~~stock~~and number of ~~the Company includes up to 100,000,000~~ shares of Class A common stock ~~with~~issuable aupon ~~par~~exercise ~~value~~ of ~~$0.0001 per~~the Warrants may be adjusted in certain circumstances including in the event of a share ~~and 10~~dividend,~~000~~ or recapitalization,~~000~~ reorganization, merger or consolidation. In addition, if (x) the Company issues additional shares of Class B A common stock ~~with~~or asecurities ~~par~~convertible ~~value~~into ofor ~~$0.0001.~~exercisable Ifor ~~the~~exchangeable ~~Company~~for ~~enters~~shares ~~into~~of anClass ~~Initial~~A common ~~Business~~stock ~~Combination,~~for itcapital ~~may~~raising ~~(depending~~purposes onin connection with the ~~terms~~closing of ~~such~~the an Initial Business Combination), beat ~~required~~an toissue ~~increase~~price ~~the~~or ~~number~~effective issue price of ~~shares~~ less than $9.20 per share of Class A common stock ~~which~~(with ~~the~~such ~~Company~~issue isprice ~~authorized~~or toeffective issue atprice ~~the~~to ~~same~~be ~~time~~determined asin good faith by the Company’s ~~stockholders~~board ~~vote~~of ondirectors and, in the ~~Initial~~ ~~Business~~case ~~Combination,~~of any such issuance to the ~~extent~~Sponsor ~~the~~or ~~Company~~its ~~seeks~~affiliates, ~~stockholder~~without ~~approval~~taking into inaccount ~~connection~~any ~~with~~Founder Shares held by the ~~Initial~~Sponsor ~~Business~~or ~~Combination.~~such affiliates, as applicable, prior to such issuance (the “Newly Issued ~~Holders~~Price”)), of(y) the ~~Company’s~~aggregate ~~common~~gross ~~stock~~proceeds ~~are~~from ~~entitled~~such ~~to one vote~~issuances ~~for~~represent ~~each~~more ~~share~~than 60% of ~~common~~the ~~stock.~~total Atequity ~~June 30~~proceeds, ~~2022~~ and ~~December~~interest 31thereon, ~~2021,~~available ~~there~~for ~~were 17~~funding the Initial Business Combination,~~850,000 shares~~ ofand ~~Class~~(z) Athe ~~common~~volume ~~stock~~weighted ~~issued~~average ~~and~~trading ~~outstanding.~~price Ofof the ~~17,850,000 shares~~ of Class A common stock~~, 17,250,000 shares~~ ofduring ~~Class~~the A20 ~~common~~trading ~~stock~~day ~~issued~~period instarting on the ~~Public~~trading ~~Offering~~day ~~are~~prior ~~classified~~to asthe ~~temporary~~day ~~equity~~on which the Company consummates the Initial Business atCombination ~~June~~(the ~~30,~~“Market ~~2022~~Value”) ~~and~~is ~~December~~below 31$9.20 per share, ~~2021~~the ~~since~~exercise ~~they~~price ~~are~~of ~~subject~~the Warrants will be adjusted (to ~~possible~~the ~~redemption~~nearest cent) asto ~~more~~be ~~fully~~equal ~~described~~to in115% ~~Notes~~of 1the higher of the Market Value and 2.the ~~The~~Newly ~~remaining 600~~Issued Price,~~000 shares~~ and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of ~~Class~~ Athe ~~common~~higher ~~stock~~of the Market Value and the Newly Issued Price. 4Additionally,~~312,500 shares~~ in ofno ~~Class~~event Bwill ~~common~~the ~~stock~~Company ~~issued~~be ~~and~~required ~~outstanding~~to atnet ~~June~~cash ~~30,~~settle ~~2022~~any ~~and~~Warrant. ~~December 31,~~In ~~2021~~the ~~are~~event ~~classified~~that asa ~~permanent~~registration ~~equity~~statement ~~since~~is not effective for the ~~Sponsor~~exercised ~~and~~Warrants, the ~~Company’s~~purchaser ~~officers~~of ~~and~~a ~~directors~~Unit containing such Warrant will have ~~entered~~paid ~~into~~the afull ~~letter agreement~~purchase ~~with~~price for the ~~Company,~~Unit ~~pursuant~~solely tofor the ~~which~~share ~~they~~of ~~have~~Class ~~agreed~~A tocommon ~~waive~~stock ~~their~~underlying such Unit. There will be no redemption rights toor liquidating distributions ~~from~~with respect to the ~~Trust~~Warrants, ~~Account as more~~which ~~fully~~will ~~described~~expire inworthless ~~Note~~if 1the Company fails to complete an Initial Business Combination by May 11, 2023.

~~Preferred~~As ~~Stock~~more fully described in Note 2, the Company accounts for the warrants for shares of the Company’s common stock as a liability since they are not indexed to the Company’s stock.

The Company is authorized to issue 1,000,000 shares of preferred stock, par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At June 30, 2022 and December 31, 2021, there were no shares of preferred stock issued or outstanding. 17

NOTE 87 — ~~SUBSEQUENT~~STOCKHOLDERS’ ~~EVENTS~~EQUITY (DEFICIT)

~~The~~Common Company evaluated subsequent events and transactions that occurred after the balance sheet date and through the date that the financial statements were issued. The Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.Stock

16The authorized common stock of the Company includes up to 100,000,000 shares of Class A common stock with a par value of $0.0001 per share and 10,000,000 shares of Class B common stock with a par value of $0.0001. If the Company enters into an Initial Business Combination, it may (depending on the terms of such an Initial Business Combination) be required to increase the number of shares of Class A common stock which the Company is authorized to issue at the same time as the Company’s stockholders vote on the Initial Business Combination, to the extent the Company seeks stockholder approval in connection with the Initial Business Combination. Holders of the Company’s common stock are entitled to one vote for each share of common stock. At September 30, 2022 and December 31, 2021, there were 17,850,000 shares of Class A common stock issued and outstanding. Of the 17,850,000 shares of Class A common stock, 17,250,000 shares of Class A common stock issued in the Public Offering are classified as temporary equity at September 30, 2022 and December 31, 2021 since they are subject to possible redemption as more fully described in Notes 1 and 2. The remaining 600,000 shares of Class A common stock and 4,312,500 shares of Class B common stock issued and outstanding at September 30, 2022 and December 31, 2021 are classified as permanent equity since the Sponsor and the Company’s officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to waive their rights to liquidating distributions from the Trust Account as more fully described in Note 1.

~~Item~~Preferred ~~2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.~~Stock

The ~~following~~Company ~~discussion~~is ~~and~~authorized ~~analysis~~to issue 1,000,000 shares of ~~the~~preferred ~~Company’s~~stock, ~~financial~~par ~~condition~~value ~~and results~~ of ~~operations of B~~$0.0001 per ~~Riley~~share, ~~Principal~~with ~~250~~such ~~Merger~~designations, ~~Corp.~~voting ~~(the~~and ~~“Company”)~~other ~~should~~rights beand ~~read~~preferences inas ~~conjunction~~may ~~with~~be ~~the~~determined ~~financial~~from ~~statements~~time ~~and~~to ~~the~~time ~~notes~~by ~~thereto~~the ~~contained~~Company’s ~~elsewhere in~~board ~~this~~of ~~report (the “Quarterly Report”)~~directors. At ~~Certain~~September 30, ~~information~~2022 ~~contained~~and inDecember ~~the~~31, ~~discussion~~2021, ~~and~~there ~~analysis~~were ~~set~~no ~~forth~~shares ~~below~~of ~~includes forward-looking~~preferred ~~statements~~stock ~~that~~issued ~~involve~~or ~~risks and uncertainties~~outstanding.

~~Cautionary~~NOTE ~~Note~~8 ~~Regarding~~— ~~Forward-Looking~~SUBSEQUENT ~~Statements~~EVENTS

~~This~~The ~~Quarterly~~Company ~~Report~~evaluated ~~includes~~subsequent ~~forward-looking~~events ~~statements.~~and ~~All~~transactions ~~statements,~~that ~~other~~occurred ~~than~~after ~~statements~~the ofbalance ~~historical~~sheet ~~fact~~date ~~included in this Quarterly Report including, without limitation, statements in this “Management’s Discussion~~ and ~~Analysis~~through ~~of Financial Condition and Results of Operations” regarding~~ the ~~Company’s~~date ~~financial~~that ~~position, business strategy and~~ the ~~plans and objectives of management~~financial ~~for~~statements ~~future~~were ~~operations, are forward-looking statements~~issued. InThe ~~some~~Company ~~cases,~~did ~~you~~not ~~can~~ identify ~~forward-looking~~any ~~statements~~subsequent byevents ~~terminology~~that ~~such as “may,” “should,” “could,” “~~would,” ~~“expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. We~~ have ~~based~~required ~~these~~adjustment forward-looking statements on our current expectations and projections about future events. Forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or ~~achievements~~disclosure to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in the ~~Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2021 and in our other~~financial ~~Securities and Exchange Commission (“SEC”) filings. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking~~ statements ~~whether as a result of new information, future events or otherwise~~.

~~Overview~~18

~~We are~~Item a2. ~~blank~~Management’s ~~check~~Discussion ~~company~~and ~~incorporated~~Analysis asof aFinancial ~~Delaware~~Condition ~~corporation~~ and ~~formed~~Results ~~for the purpose~~ of ~~effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”)~~Operations.

WeThe ~~intend~~following todiscussion ~~effectuate~~and ananalysis ~~Initial~~of ~~Business~~the ~~Combination~~Company’s ~~using~~financial ~~cash~~condition ~~from~~and ~~the~~results ~~proceeds~~of operations of ~~our~~B. ~~initial~~Riley ~~public~~Principal ~~offering~~250 Merger Corp. (the “~~Public Offering~~Company”)~~, including~~ ~~the~~should ~~proceeds~~be ~~from~~read ~~the~~in ~~sale~~conjunction ofwith the ~~Over-Allotment~~financial ~~Public~~statements ~~Units,~~and the ~~proceeds~~notes ~~from~~thereto ~~the~~contained ~~sale~~elsewhere in ofthis report (the ~~Private~~“Quarterly ~~Placement~~Report”). ~~Units,~~Certain ~~including the~~information ~~Over-Allotment~~contained ~~Private~~in ~~Placement~~the ~~Units,~~discussion and ~~from~~analysis ~~additional~~set ~~issuances~~forth ~~of,~~below ifincludes forward-looking ~~any,~~statements ~~our~~that ~~capital~~involve ~~stock~~risks and ~~our debt, or a combination of cash, stock and debt~~uncertainties.

~~Results~~Cautionary Note Regarding ofForward-Looking ~~Operations~~Statements

~~Our~~This ~~business~~Quarterly ~~activities~~Report ~~from~~includes ~~inception~~forward-looking tostatements. ~~June~~All 30statements, ~~2022~~other ~~consisted~~than ~~primarily~~statements of ~~our~~historical ~~preparation~~fact ~~for~~included ~~our~~in ~~Public~~this ~~Offering~~Quarterly Report ~~that~~including, ~~was~~without ~~completed~~limitation, statements in this “Management’s Discussion and Analysis of Financial Condition and onResults ~~May~~of 11Operations” regarding the Company’s financial position, ~~2021~~business strategy and the plans and objectives of management for future operations, ~~since~~are ~~the~~forward-looking ~~Public~~statements. ~~Offering~~In onsome ~~May~~cases, 11you can identify forward-looking statements by terminology such as “may,” ~~2021~~“should,” ~~identification~~“could,” ~~and~~“would,” ~~evaluation~~“expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of ~~prospective~~such ~~acquisition~~terms ~~targets~~or ~~for~~other similar expressions. We anhave ~~Initial~~based ~~Business~~these ~~Combination~~forward-looking statements on our current expectations and projections about future events. WeForward-looking ~~will~~statements are ~~not~~subject ~~generate~~to ~~any~~known ~~operating~~and ~~revenues~~unknown ~~until~~risks, ~~after~~uncertainties ~~completion~~and ofassumptions about us that may cause our ~~Initial~~actual ~~Business~~results, ~~Combination.~~levels of activity, Weperformance ~~generate~~or ~~non~~achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-~~operating~~looking ~~income~~statements. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in the ~~form~~Risk Factors section of ~~net~~our ~~gains~~Annual ~~from~~Report ~~investments~~on ~~held~~Form 10-K for the year ended December 31, 2021 and in ~~Trust~~our ~~Account~~other Securities and Exchange Commission (“SEC”) filings. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

For the three months ended June 30, 2022, we had net income of $1,178,812. Our net income for the three months ended June 30, 2022, consisted of interest income earned in the amount of $228,654 on funds held in the Trust Account, loss from operations in the amount of $359,072, unrealized gain on change in fair value of warrant liability in the amount of $1,315,330, and provision for income taxes of $6,100. For the three months ended June 30, 2021, we had a net loss of $1,399,757. Our net loss for the three months ended June 30, 2021, consisted of interest income earned in the amount of $1,671 on funds held in the Trust Account, loss from operations in the amount of $126,639, warrant issue costs of $124,789, and an unrealized loss on change in fair value of warrant liability in the amount of $1,150,000.Overview

~~For~~We ~~the~~are ~~six~~a ~~months~~blank ~~ended~~check ~~June~~company ~~30,~~incorporated ~~2022,~~as wea ~~had~~Delaware ~~net~~corporation ~~income~~and offormed ~~$2,649,047. Our net income~~ for the ~~six~~purpose ~~months ended June 30, 2022, consisted~~ of ~~interest~~effecting income earned in the amount of $245,055 on funds held in the Trust Account, loss from operations in the amount of $685,908, an unrealized gain on change in fair value of warrant liability in the amount of $3,096,000, and provision for income taxes of $6,100. For the six months ended June 30, 2021, we had a ~~net loss of $1~~merger,~~400,207.~~ ~~Our~~capital ~~net~~stock ~~loss for the six months ended June 30~~exchange, ~~2021, consisted~~ ofasset ~~interest income earned in the amount of $1~~acquisition,~~671~~ onstock ~~funds held in the Trust Account~~purchase, ~~loss~~reorganization ~~from~~or ~~operations~~similar inbusiness ~~the~~combination ~~amount~~with ofone ~~$127,089, warrant~~or ~~issue~~more ~~costs~~businesses ~~of $124,789, and an unrealized loss on change in fair value of warrant liability in~~ (the ~~amount~~“Initial ~~of $1,150,000~~Business Combination”).

17We intend to effectuate an Initial Business Combination using cash from the proceeds of our initial public offering (the “Public Offering”), including the proceeds from the sale of the Over-Allotment Public Units, the proceeds from the sale of the Private Placement Units, including the Over-Allotment Private Placement Units, and from additional issuances of, if any, our capital stock and our debt, or a combination of cash, stock and debt.

~~Liquidity, Capital~~Results ~~Resources~~of ~~and Going Concern Consideration~~Operations

~~Until~~Our ~~the~~business ~~closing~~activities offrom ~~the~~inception ~~Public~~to ~~Offering~~September 30, ~~our~~2022 ~~only~~consisted ~~source~~primarily of ~~liquidity~~our ~~was~~preparation anfor ~~initial~~our ~~sale~~Public ofOffering ~~shares~~that ofwas ~~Class B~~completed on ~~common~~May ~~stock~~11, ~~par~~2021 ~~value $0.0001~~and, ~~per~~since ~~share (~~the ~~“Founder~~Public ~~Shares”),~~Offering toon B.May ~~Riley Principal 250 Sponsor Co. LLC (the “Sponsor”)~~11, ~~a Delaware limited liability company~~2021, identification and ~~the~~evaluation ~~proceeds~~ of aprospective ~~promissory~~acquisition ~~note~~targets ~~(the~~for ~~“Note”)~~an Initial ~~from~~Business ~~the Sponsor, in the amount of $300,000~~Combination. We ~~had~~will annot ~~outstanding~~generate ~~balance~~any onoperating ~~the~~revenues ~~Note~~until ofafter ~~$100,000~~completion ~~at the time~~ of ~~the~~our ~~Public~~Initial ~~Offering~~Business ~~and~~Combination. We ~~the~~generate ~~Note~~non-operating ~~was~~income ~~repaid~~ in ~~full~~the onform ~~May~~of ~~17,~~net ~~2021 with~~gains ~~proceeds raised~~ from ~~the~~investments ~~closing~~held ofin ~~the~~Trust ~~Public Offering~~Account.

~~Our~~For ~~registration~~the ~~statement~~three ~~for~~months ~~our~~ended ~~Public~~September ~~Offering~~30, ~~was~~2022, ~~declared~~we ~~effective~~had onnet ~~May~~income 7,of ~~2021~~$1,174,584. OnOur ~~May~~net ~~11,~~income ~~2021,~~for wethe ~~consummated~~three ~~the~~months ~~Public~~ended ~~Offering of~~September 1530,~~000~~ 2022,~~000~~ consisted ~~units~~of ~~(the~~interest ~~“Public~~income ~~Units”)~~earned atin ~~$10.00~~the ~~per~~amount ~~Public Unit, generating gross proceeds~~ of $~~150~~463,~~000,000.~~758 ~~Each~~on ~~Public Unit~~funds ~~consists~~held ofin ~~one~~the ~~share~~Trust ofAccount, ~~Class~~loss Afrom ~~common~~operations ~~stock~~in (the ~~“Public~~amount ~~Shares”)~~ of $215,374, ~~the~~unrealized ~~Company,~~gain ~~par~~on ~~value~~change ~~$0.0001,~~in ~~and~~fair ~~one-third~~ value of ~~one~~warrant ~~redeemable~~liability ~~warrant~~in (the ~~“Public~~amount ~~Warrants”)~~ of ~~the Company~~$1,011,500, ~~with~~and ~~each~~provision ~~Public~~for ~~Warrant~~income ~~entitling~~taxes of $85,300. For the ~~holder~~three ~~thereof~~months ~~to purchase~~ended ~~one~~September ~~share~~30, of2021, ~~Class~~we Ahad ~~common~~net ~~stock~~income ~~for~~of $112,308,212.50 ~~per~~Our ~~share,~~net ~~subject~~income tofor ~~adjustment.~~the Onthree ~~June~~months 14ended September 30, 2021, ~~the~~consisted ~~underwriters~~of ~~exercised the~~interest ~~over-allotment~~income ~~option~~earned in ~~full~~the ~~and~~amount ~~purchased~~of ~~an additional~~ $2,~~250,000~~219 ~~Public~~on ~~Units~~funds ~~(the~~held ~~“Over-Allotment~~in ~~Public~~the ~~Units”), generating~~Trust ~~additional gross proceeds of $22~~Account,~~500,000~~ ~~million.~~loss Wefrom ~~incurred~~operations ~~total~~in ~~offering~~the amount ~~costs~~ of ~~approximately~~ $4215,~~021~~082,~~103~~ ~~consisting of~~and ~~$3,450,000~~an ~~(2%~~unrealized ofgain ~~gross~~on ~~proceeds)~~change ~~million~~ in ~~underwriting~~fair ~~fees~~value ~~and~~of ~~other~~warrant ~~offering~~liability ~~costs~~in the amount of $~~571~~2,~~103~~521,075.

~~Simultaneously~~For ~~with~~ the ~~closing~~nine ofmonths ~~the~~ended ~~Public~~September ~~Offering~~30, 2022, we ~~consummated~~had ~~the~~net ~~private~~income ~~placement~~of ~~(“Private~~$3,823,631. ~~Placement”)~~Our ~~of 555,000~~net ~~units (~~income for the ~~“Private~~nine ~~Placement~~months ~~Units”)~~ended toSeptember ~~our~~30, ~~Sponsor~~2022, consisted atof ainterest ~~purchase~~income ~~price~~earned in the amount of $~~10.00~~708,813 ~~per~~on ~~Private~~funds ~~Placement~~held ~~Unit~~in the Trust Account, ~~generating~~loss ~~gross proceeds~~from tooperations in the ~~Company~~amount of $5901,~~550~~282,~~000.~~ ~~Each~~an ~~Private~~unrealized ~~Placement~~gain ~~Unit~~on ~~consists~~change ofin ~~one~~fair ~~share~~value of ~~Class~~warrant Aliability ~~common~~in ~~stock (~~the ~~“Private Placement~~amount ~~Shares”)~~ of ~~the Company~~$4,107,500, ~~par~~and ~~value~~provision for income taxes of $~~0.0001~~91,400. ~~and~~For ~~one-third~~the ofnine ~~one~~months ~~redeemable~~ended ~~warrant~~September ~~(the~~30, ~~“Private~~2021, ~~Placement~~we ~~Warrants”) of~~had ~~the~~net ~~Company,~~income ~~with~~of ~~each~~$908,005. ~~Private~~Our ~~Placement~~net ~~Warrant~~income ~~entitling~~for the ~~holder~~nine ~~thereof~~months toended ~~purchase~~September 30, ~~one~~2021, ~~share~~consisted of ~~Class~~interest Aincome ~~common~~earned ~~stock~~in ~~for~~the ~~$11.50 per~~amount ~~share~~of $3,890 ~~subject~~on tofunds ~~adjustment.~~held Onin ~~June~~the ~~14,~~Trust ~~2021~~Account, ~~simultaneously~~loss ~~with~~from ~~the~~operations ~~sale~~in of the amount ~~Over-Allotment~~of ~~Public Units~~$342,171, wewarrant ~~consummated~~issue ~~a private~~costs ~~sale~~ of ~~an additional 45~~$124,~~000~~789, ~~Private~~and ~~Placement~~an ~~Units~~unrealized ~~(the~~gain ~~“Over-Allotment~~on ~~Private~~change ~~Placement~~in ~~Units”)~~fair tovalue ~~our~~of ~~Sponsor, generating~~warrant ~~gross~~liability ~~proceeds~~in the amount of $~~450~~1,~~000~~371,075.

A total of $172,500,000, comprised of $169,050,000 of the proceeds from the Public Offering and the sale of the Over-Allotment Public Units (which amount includes a $6,037,500 fee payable to B. Riley Securities, Inc. pursuant to the business combination marketing agreement upon completion of an Initial Business Combination) and $3,450,000 from the proceeds of the sale of the Private Placement Units and the Over-Allotment Private Placement Units, was placed in the Trust Account. maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its franchise and income tax obligations (less up to $100,000 of interest to pay dissolution expenses), the funds held in the Trust Account will not be released from the Trust Account until the earliest of (i) the completion of the Company’s Initial Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (the “Amended Charter”) to modify the substance or timing of the Company’s obligation to redeem 100% of the Company’s Public Shares if the Company does not complete its Initial Business Combination by May 11, 2023 or with respect to any other material provisions relating to stockholders’ rights or pre-Initial Business Combination activity and (iii) the redemption of 100% of the Company’s Public Shares if the Company is unable to complete an Initial Business Combination by May 11, 2023, subject to applicable law.19

~~We have not entered into any off-balance sheet financing arrangements~~Liquidity, ~~established any special purpose entities, guaranteed any debt or~~Capital ~~commitments~~Resources ofand ~~other~~Going ~~entities,~~Concern ~~or entered into any non-financial agreements involving assets.~~ Consideration

AsUntil the closing of ~~June~~the 30Public Offering, ~~2022~~our ~~and~~only ~~December~~source 31of liquidity was an initial sale of shares of Class B common stock, ~~2021~~par value $0.0001 per share (the “Founder Shares”), weto ~~did~~B. ~~not~~Riley ~~have~~Principal ~~any~~250 ~~long-term~~Sponsor ~~debt~~Co. LLC (the “Sponsor”), ~~capital~~a ~~lease~~Delaware limited ~~obligations~~liability company, ~~operating~~and ~~lease~~the ~~obligations~~proceeds orof a promissory note (the “Note”) from the Sponsor, in the amount of $300,000. ~~long-term~~We ~~liabilities~~had an outstanding balance on the Note of $100,000 at the time of the Public Offering and the Note was repaid in full on May 17, 2021 with proceeds raised from the closing of the Public Offering.

~~As of~~Our ~~June~~registration 30statement for our Public Offering was declared effective on May 7, ~~2022~~2021. On May 11, 2021, we consummated the ~~Company~~Public ~~had~~Offering of ~~$671~~15,~~082 in~~000,000 ~~its~~units ~~operating~~(the ~~bank~~“Public ~~account~~Units”) at $10.00 per Public Unit, generating gross proceeds of $~~172~~150,~~752~~000,~~590 in investments~~000. ~~held~~Each inPublic Unit ~~the~~consists ~~Trust~~of ~~Account~~one toshare beof ~~used~~Class ~~for~~A ancommon ~~Initial~~stock ~~Business~~(the ~~Combination~~“Public orShares”) toof ~~repurchase~~the orCompany, ~~redeem~~par ~~its~~value ~~public~~$0.0001, ~~shares~~and inone-third ~~connection~~of ~~therewith~~one ~~and~~redeemable ~~working~~warrant ~~capital~~(the “Public Warrants”) of ~~$789~~the Company,~~125,~~ ~~which~~with ~~excludes~~each ~~income~~Public Warrant entitling the holder thereof to ~~taxes~~purchase ~~payable~~one share of Class A common stock for $611.50 per share,~~100~~ ~~and~~subject ~~Delaware~~to ~~franchise~~adjustment. ~~taxes~~On ~~payable~~June of14, ~~$47~~2021,~~561 (which~~ isthe ~~included~~underwriters inexercised ~~accounts~~the over-allotment ~~payable~~option in full and ~~accrued expenses~~purchased atan ~~June~~additional 302,250,000 ~~2022~~Public Units (the “Over-Allotment Public Units”), asgenerating additional ~~franchise~~gross ~~taxes~~proceeds ~~are~~of ~~paid~~$22,500,000 ~~from~~million. ~~the~~We ~~Trust~~incurred ~~Account~~total ~~from~~offering ~~interest~~costs ~~income~~of ~~earned~~approximately $4,021,103 consisting of $3,450,000 (2% of gross proceeds) million in underwriting fees and other offering costs of $571,103.

WeSimultaneously ~~will~~with ~~likely~~the ~~need~~closing toof ~~raise~~the ~~additional~~Public ~~funds~~Offering, inwe ~~order~~consummated tothe ~~meet~~private placement (“Private Placement”) of 555,000 units (the ~~expenditures~~“Private ~~required~~Placement ~~for~~Units”) ~~operating~~to our ~~business.~~Sponsor, Weat ~~may~~a ~~not~~purchase beprice ~~able to~~of ~~obtain~~$10.00 ~~additional~~per ~~financing~~Private orPlacement ~~raise~~Unit, ~~additional~~generating ~~capital~~gross proceeds to ~~finance~~the ~~its~~Company ~~ongoing~~of ~~operations~~$5,550,000. IfEach wePrivate ~~are~~Placement ~~unable~~Unit toconsists ~~raise~~of ~~additional~~one ~~capital, it~~share ~~may~~of beClass ~~required~~A tocommon ~~take~~stock ~~additional~~(the ~~measures~~“Private toPlacement Shares”) ~~conserve~~of ~~liquidity~~the Company, ~~which~~par ~~could~~value ~~include~~$0.0001, ~~but~~and ~~not~~one-third ~~necessarily~~of beone ~~limited~~redeemable ~~to,~~warrant ~~curtailing~~(the “Private Placement Warrants”) ~~operations~~of the Company, ~~suspending~~with ~~the~~each ~~pursuit~~Private ofPlacement aWarrant ~~potential~~entitling ~~transaction~~the ~~and~~holder ~~reducing~~thereof ~~overhead~~to ~~expenses.~~purchase Weone ~~cannot~~share ~~provide~~of ~~any~~Class ~~assurance~~A ~~that~~common ~~new financing~~stock ~~will~~for be$11.50 per ~~available~~share, subject to itadjustment. onOn ~~commercially~~June ~~acceptable~~14, ~~terms~~2021, ifsimultaneously atwith ~~all.~~the ~~These~~sale ~~conditions~~of ~~raise~~the ~~substantial~~Over-Allotment ~~doubt~~Public ~~about~~Units, ~~our~~we ~~ability~~consummated a toprivate ~~continue~~sale asof aan ~~going~~additional ~~concern~~45,000 ~~through~~Private ~~May~~Placement ~~11,~~Units ~~2023~~(the “Over-Allotment Private Placement Units”) to our Sponsor, generating ~~the~~gross ~~scheduled~~proceeds ~~liquidation~~of ~~date~~$450,000.

18A total of $172,500,000, comprised of $169,050,000 of the proceeds from the Public Offering and the sale of the Over-Allotment Public Units (which amount includes a $6,037,500 fee payable to B. Riley Securities, Inc. pursuant to the business combination marketing agreement upon completion of an Initial Business Combination) and $3,450,000 from the proceeds of the sale of the Private Placement Units and the Over-Allotment Private Placement Units, was placed in the Trust Account. maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its franchise and income tax obligations (less up to $100,000 of interest to pay dissolution expenses), the funds held in the Trust Account will not be released from the Trust Account until the earliest of (i) the completion of the Company’s Initial Business Combination, (ii) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (the “Amended Charter”) to modify the substance or timing of the Company’s obligation to redeem 100% of the Company’s Public Shares if the Company does not complete its Initial Business Combination by May 11, 2023 or with respect to any other material provisions relating to stockholders’ rights or pre-Initial Business Combination activity and (iii) the redemption of 100% of the Company’s Public Shares if the Company is unable to complete an Initial Business Combination by May 11, 2023, subject to applicable law.

~~Administrative~~We ~~Services~~have ~~Agreement~~not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or entered into any non-financial agreements involving assets.

OnAs ~~May~~of 7,September ~~2021~~30, we2022 ~~entered~~and ~~into~~December an31, ~~administrative~~2021, ~~support~~we ~~agreement~~did ~~pursuant~~not ~~to which we~~ have ~~agreed~~any tolong-term ~~pay an affiliate of the Sponsor a total of $3~~debt,~~750~~ ~~per~~capital ~~month~~lease ~~for office space~~obligations, ~~administrative~~operating ~~and~~lease ~~support services. Upon the earlier of the completion of the Initial~~obligations ~~Business~~or ~~Combination~~long-term ~~and the Company’s liquidation, we will cease paying these monthly fees~~liabilities.

~~Business~~As of September 30, 2022, the Company had $513,763 in its operating bank account, $173,216,348 in investments held in the Trust Account to be used for an Initial Business Combination ~~Marketing~~or ~~Agreement~~to repurchase or redeem its public shares in connection therewith and working capital of $597,532, which excludes income taxes payable of $91,400 and Delaware franchise taxes payable of $71,342 (which is included in accounts payable and accrued expenses at September 30, 2022) as franchise taxes are paid from the Trust Account from interest income earned.

We ~~have~~will ~~engaged~~likely B.need ~~Riley~~to ~~Securities,~~raise ~~Inc.~~additional asfunds ~~advisors~~ in ~~connection~~order ~~with the Initial Business Combination~~ to ~~assist~~meet ~~us in arranging meetings with stockholders to discuss~~ the ~~potential~~expenditures ~~Initial~~required ~~Business~~for ~~Combination~~operating ~~and~~our ~~the~~business. ~~target~~We ~~business’~~may ~~attributes,~~not ~~introduce~~be usable to ~~potential~~ ~~investors~~obtain ~~that~~additional ~~may~~financing beor ~~interested~~raise inadditional ~~purchasing~~capital ~~our~~to ~~securities,~~finance ~~assist~~its usongoing inoperations. ~~obtaining~~If ~~stockholder~~we ~~approval~~are ~~for~~unable ~~our~~to ~~Initial~~raise ~~Business~~additional ~~Combination~~capital, ~~and~~it ~~assist~~may usbe ~~with~~required ~~the~~to ~~preparation~~take ofadditional ~~press~~measures ~~releases~~to ~~and~~conserve ~~public~~liquidity, ~~filings~~which incould ~~connection~~include, ~~with~~but ~~the~~not ~~Initial~~necessarily ~~Business~~be ~~Combination.~~limited Weto, ~~will~~curtailing ~~pay B. Riley Securities~~operations, ~~Inc.~~suspending ~~for~~the ~~such~~pursuit ~~services~~of ~~upon~~a ~~the~~potential ~~consummation~~transaction ofand ~~the~~reducing ~~Initial~~overhead ~~Business~~expenses. ~~Combination~~We acannot ~~cash~~provide ~~fee~~any inassurance anthat ~~amount equal~~new tofinancing ~~3.5%~~will ofbe ~~the~~available ~~gross~~to ~~proceeds~~it ofon ~~the~~commercially ~~Public~~acceptable ~~Offering~~terms, ~~(exclusive~~if ofat ~~any~~all. ~~applicable~~These ~~finders’~~conditions ~~fees~~raise ~~which~~substantial ~~might~~doubt ~~become~~about ~~payable).~~our ~~Pursuant~~ability to ~~the~~continue ~~terms~~as ofa ~~the~~going ~~business~~concern ~~combination~~through ~~marketing~~May ~~agreement~~11, no2023, ~~fee~~the ~~will~~scheduled beliquidation ~~due if we do not complete an Initial Business Combination~~date.

~~Registration Rights Agreement~~20

~~The holders~~Administrative ~~of Founder Shares, Private Placement Units and warrants that may be issued upon conversion of working capital loans, if~~Services any, (and any shares of Class A common stock issuable upon the exercise of the Private Placement Units, underlying Private Placement Warrants or working capital warrants) are entitled to registration rights pursuant to a registration rights agreement signed upon the consummation of the Public Offering. These holders are entitled to certain demand and “piggyback” registration rights. We will bear the expenses incurred in connection with the filing of any such registration statements.Agreement

~~Critical~~On ~~Accounting~~May ~~Policies~~7, 2021, we entered into an administrative support agreement pursuant to which we have agreed to pay an affiliate of the Sponsor a total of $3,750 per month for office space, administrative and support services. Upon the earlier of the completion of the Initial Business Combination and the Company’s liquidation, we will cease paying these monthly fees.

~~Our financial~~Business ~~statements and the notes thereto contain information that is pertinent to management’s discussion and analysis. The preparation~~Combination ofMarketing financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities. Estimates are used when accounting for certain items such as valuation of investments held in Trust Account, derivative and warrant liabilities, and accounting for income tax valuation allowances. Estimates are based on historical experience, where applicable, and assumptions that management believes are reasonable under the circumstances. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. On a continual basis, management reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, management’s estimates are adjusted accordingly. Actual results may vary from these estimates and assumptions under different and/or future circumstances. Management considers an accounting estimate to be critical if:Agreement

●We have itengaged ~~requires~~B. ~~assumptions~~Riley Securities, Inc. as advisors in connection with any potential Initial Business Combination to beassist ~~made~~us ~~that~~in arranging ~~were~~meetings ~~uncertain~~with atstockholders to discuss such potential Initial Business Combination and the ~~time~~target business’ attributes, introduce us to potential investors that may be interested in purchasing our securities, assist us in obtaining stockholder approval for our Initial Business Combination and assist us with the ~~estimate~~preparation ~~was~~of ~~made;~~press releases and public filings in connection with such Initial Business Combination. We will pay B. Riley Securities, Inc. for such services upon the consummation of such Initial Business Combination a cash fee in an amount equal to 3.5% of the gross proceeds of the Public Offering (exclusive of any applicable finders’ fees which might become payable). Pursuant to the terms of the business combination marketing agreement, no fee will be due if we do not complete an Initial Business Combination.

●Registration ~~changes in the estimate, or the use of different estimating methods that could have been selected, could have a material impact on results of operations or financial condition.~~Rights Agreement

OnThe ~~January~~holders ~~30,~~of ~~2020~~Founder Shares, ~~the~~Private ~~World~~Placement ~~Health~~Units and ~~Organization~~warrants ~~(“WHO”)~~that ~~announced~~may abe ~~global~~issued ~~health~~upon ~~emergency~~conversion ~~because~~ of aworking ~~new~~capital ~~strain of coronavirus (the “COVID-19 outbreak”). In March 2020~~loans, ~~the~~if ~~WHO classified the COVID-19 outbreak as a pandemic~~any, ~~based on the~~ ~~rapid~~(and ~~increase~~any inshares ~~exposure globally. The full impact~~ of ~~the~~Class A ~~COVID-19~~common ~~outbreak~~stock ~~continues~~issuable toupon ~~evolve, with~~ the ~~emergence~~exercise of ~~new variant strains and breakthrough infections becoming prevalent both in~~ the ~~U.S.~~Private ~~and~~Placement ~~worldwide. As the U.S. economy recovers~~Units, ~~aided~~underlying ~~by stimulus~~Private ~~packages~~Placement ~~and fiscal and monetary policies, inflation has been rising at historically high rates, and the Federal Reserve has~~Warrants ~~signaled~~or ~~that~~working itcapital ~~will~~warrants) ~~begin~~are ~~increasing~~entitled ~~the~~to ~~target~~registration ~~federal~~rights ~~funds~~pursuant ~~effective~~to ~~rate.~~a ~~The~~registration ~~impact~~rights ofagreement ~~the~~signed ~~COVID-19~~upon ~~outbreak and these related matters on our results of operations, financial position and cash flows will depend on future developments, including~~ the ~~duration and~~consummation ~~spread~~ of the ~~outbreak~~Public ~~and related advisories and restrictions and the success of vaccines and natural immunity in controlling the pandemic~~Offering. These ~~developments~~ ~~and~~holders ~~the~~are ~~impact~~entitled ~~of the COVID-19 outbreak on the financial markets and the overall economy continue~~ to becertain ~~highly~~demand ~~uncertain~~ and ~~cannot~~“piggyback” beregistration ~~predicted~~rights. IfWe ~~the~~will ~~financial markets and/or~~ bear the ~~overall~~expenses ~~economy~~incurred ~~continue~~in toconnection bewith ~~impacted,~~the ~~our~~filing ~~results~~ of ~~operations,~~any ~~financial position~~such ~~and~~registration ~~cash flows may be materially adversely affected~~statements.

~~The global~~Critical ~~spread and unprecedented impact of COVID-19, including variants of the virus (such as the Delta and Omicron variants),~~Accounting has resulted in significant disruption and has created additional risks to the Company’s and target companies’ businesses, the industry and the economy. In March 2020, the World Health Organization declared novel coronavirus disease 2019 (COVID-19) a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains, lowered equity market valuations, created significant volatility and disruption in financial markets, and increased unemployment levels, all of which may become heightened concerns upon a second wave of infection or future developments. In addition, the pandemic has resulted in temporary closures of many businesses and the institution of social distancing and sheltering in place requirements in many states and communities. The COVID-19 pandemic has and a significant outbreak of other infectious diseases could result in a widespread health crisis that could adversely affect the economies and financial markets worldwide, and the business of any potential partner business with which we consummate an Initial Business Combination could be materially and adversely affected.Policies

19Our financial statements and the notes thereto contain information that is pertinent to management’s discussion and analysis. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities. Estimates are used when accounting for certain items such as valuation of investments held in Trust Account, derivative and warrant liabilities, and accounting for income tax valuation allowances. Estimates are based on historical experience, where applicable, and assumptions that management believes are reasonable under the circumstances. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. On a continual basis, management reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, management’s estimates are adjusted accordingly. Actual results may vary from these estimates and assumptions under different and/or future circumstances. Management considers an accounting estimate to be critical if:

~~We have~~● ~~identified~~it requires assumptions to be made that were uncertain at the ~~following~~time asthe ~~our~~estimate ~~critical~~was ~~accounting~~made; ~~policies:~~and

~~Warrant Derivative~~● ~~Liability~~changes in the estimate, or the use of different estimating methods that could have been selected, could have a material impact on results of operations or financial condition.

InOn ~~accordance~~January ~~with~~30, ~~FASB ASC 815-40~~2020, ~~“Derivatives~~the ~~and~~World ~~Hedging:~~Health ~~Contracts~~Organization ~~in an Entities Own Equity~~(“WHO”,) anannounced ~~entity~~a ~~must~~global ~~consider whether~~health toemergency ~~classify~~because ~~contracts~~of ~~that~~a ~~may~~new bestrain ~~settled~~of incoronavirus (the ~~its~~“COVID-19 ~~own~~outbreak”). In ~~stock,~~March ~~such as warrants~~2020, asthe ~~equity~~WHO ofclassified the ~~entity~~COVID-19 oroutbreak as ana ~~asset~~pandemic, orbased ~~liability.~~on the Ifrapid anincrease ~~event~~in ~~that~~exposure isglobally. The ~~not~~full ~~within~~impact of the ~~entity’s~~COVID-19 ~~control~~outbreak ~~could~~continues ~~require~~to ~~net cash settlement~~evolve, ~~then~~with the ~~contract~~emergence ~~should~~of benew variant ~~classified~~strains ~~as an~~and ~~asset~~breakthrough orinfections abecoming ~~liability~~prevalent ~~rather~~both ~~than~~in asthe ~~equity~~U.S. Weand ~~have~~worldwide. ~~determined~~As ~~because~~ the ~~terms~~U.S. ofeconomy ~~Public~~recovers, ~~Warrants~~aided ~~include a provision that entitles~~by ~~all~~stimulus ~~warrant~~packages ~~holders~~and tofiscal ~~cash~~and ~~for~~monetary ~~their~~policies, ~~Public~~inflation ~~Warrants~~has inbeen ~~the~~rising ~~event~~at ofhistorically ahigh ~~qualifying cash tender offer~~rates, ~~while~~and ~~only~~the ~~certain~~Federal ofReserve ~~the holders~~has ofsignaled ~~the~~that ~~underlying~~it ~~shares~~will ofbegin ~~common~~increasing ~~stock~~the ~~would~~target befederal ~~entitled~~funds toeffective ~~cash,~~rate. ~~our~~The ~~Public~~impact ~~Warrants~~of ~~should~~the beCOVID-19 ~~classified~~outbreak asand ~~derivative~~these ~~liability~~related ~~measured~~matters aton ~~fair~~our ~~value,~~results ~~with~~of ~~changes~~operations, infinancial ~~fair~~position ~~value~~and ~~each~~cash ~~period~~flows ~~reported~~will independ ~~earnings.~~on ~~Further~~future ifdevelopments, ~~our~~including ~~Private~~the ~~Placement~~duration ~~Warrants are held~~and byspread ~~someone other than initial purchasers~~ of the ~~Private~~outbreak ~~Placement~~and ~~Warrants~~related oradvisories ~~their~~and ~~permitted~~restrictions ~~transferees,~~and the ~~Private~~success ~~Placement~~of ~~Warrants will~~vaccines ~~be redeemable by the Company~~ and ~~exercisable~~natural byimmunity ~~such~~in ~~holders~~controlling on the ~~same basis as the Public Warrants~~pandemic. These developments ~~Because~~and the ~~terms~~impact of the ~~Private~~ ~~Placement~~COVID-19 ~~Warrants~~outbreak ~~and~~on ~~Public~~the ~~Warrants~~financial ~~are~~markets soand ~~similar,~~the weoverall ~~classified~~economy ~~both~~continue ~~types~~to ofbe ~~Warrants~~highly ~~as a derivative liability measured~~uncertain atand ~~fair~~cannot ~~value~~be predicted. ~~Volatility~~If inthe ~~our~~financial ~~Public~~markets ~~Shares~~ and/or ~~Public~~the ~~Warrants~~overall ~~may~~economy ~~result~~continue into ~~significant~~be ~~changes~~impacted, inour ~~the~~results ~~value~~ of ~~the~~operations, ~~derivatives~~financial ~~and~~position ~~resulting gains~~ and ~~losses~~cash onflows ~~our~~may ~~statement~~be ofmaterially ~~operations~~adversely affected.

~~Earnings (Loss) per Common Share~~21

~~Basic~~The ~~earnings~~global spread and unprecedented impact of COVID-19, including variants of the virus (~~loss)~~such ~~per~~as ~~common~~the ~~share~~Delta isand Omicron variants), has ~~computed~~resulted byin ~~dividing~~significant ~~net~~disruption ~~income~~and ~~applicable~~has tocreated ~~common~~additional ~~stockholders~~risks byto the ~~weighted~~Company’s ~~average~~and ~~number~~target companies’ businesses, ofthe ~~common~~industry ~~shares~~and ~~outstanding~~the ~~during~~economy. In March 2020, the ~~period~~World Health Organization declared novel coronavirus disease 2019 (COVID-19) a global pandemic. ~~All~~The ~~shares~~COVID-19 ofpandemic ~~Class~~has Bnegatively ~~common~~impacted ~~stock~~the ~~are~~global ~~assumed~~economy, todisrupted ~~convert~~global tosupply ~~shares~~chains, oflowered ~~Class~~equity Amarket ~~common~~valuations, ~~stock~~created onsignificant avolatility ~~one-for-one~~and ~~basis.~~disruption ~~Earnings~~in financial markets, and ~~losses~~increased ~~are~~unemployment ~~shared~~levels, ~~pro~~all ~~rata~~of ~~between~~which ~~the~~may ~~two~~become ~~classes~~heightened concerns upon a second wave of ~~shares~~infection or future developments. ~~Potential~~In ~~common~~addition, ~~shares~~the ~~for outstanding~~pandemic ~~warrants~~has toresulted ~~purchase~~in temporary closures of many businesses and the ~~Company’s~~institution ~~stock~~of ~~were~~social ~~excluded~~distancing ~~from~~and ~~diluted~~sheltering ~~earnings~~in ~~per~~place ~~share~~requirements ~~for~~in ~~the~~many ~~three~~states and ~~six~~communities. ~~months~~The COVID-19 ~~ended~~pandemic ~~June~~has ~~30, 2022~~ and ~~2021~~a ~~because~~significant ~~the~~outbreak ~~Warrants~~of ~~are~~other ~~contingently~~infectious ~~exercisable,~~diseases ~~and~~could ~~the~~result ~~contingencies~~in ~~have~~a ~~not~~widespread ~~yet~~health ~~been~~crisis ~~met.~~that Ascould aadversely ~~result,~~affect ~~diluted~~the ~~earnings~~economies ~~(loss)~~and ~~per~~financial ~~common~~markets ~~share~~worldwide, isand the ~~same~~business asof ~~basic~~any ~~earnings~~potential ~~per~~partner ~~common~~business ~~share~~with ~~for~~which ~~all~~we ~~periods~~consummate ~~presented~~an Initial Business Combination could be materially and adversely affected.

~~Redeemable~~We ~~Shares~~have identified the following as our critical accounting policies:

~~All of~~Warrant ~~the 17,250,000 Public Shares sold as part of the Public Offering contain a redemption feature as described in the final prospectus~~Derivative filed in connection with our Public Offering. In accordance with FASB ASC 480, “Distinguishing Liabilities from Equity”, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Conditionally redeemable Class A common stock (including shares of Class A common stock that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control) is classified as temporary equity. At all other times, Class A common stock is classified as stockholders’ equity. Our Class A common stock features certain redemption rights that are considered to be outside of our control and subject to the occurrence of uncertain future events. Accordingly, as of June 30, 2022 and December 31, 2021, 17,250,000 shares of Class A common stock subject to possible redemption at the redemption amount were presented at redemption value as temporary equity, outside of stockholders’ equity on our Condensed Balance Sheet. Liability

~~Recent~~In ~~Accounting~~accordance ~~Standards~~with FASB ASC 815-40, “Derivatives and Hedging: Contracts in an Entities Own Equity”, an entity must consider whether to classify contracts that may be settled in its own stock, such as warrants, as equity of the entity or as an asset or liability. If an event that is not within the entity’s control could require net cash settlement, then the contract should be classified as an asset or a liability rather than as equity. We have determined because the terms of Public Warrants include a provision that entitles all warrant holders to cash for their Public Warrants in the event of a qualifying cash tender offer, while only certain of the holders of the underlying shares of common stock would be entitled to cash, our Public Warrants should be classified as derivative liability measured at fair value, with changes in fair value each period reported in earnings. Further if our Private Placement Warrants are held by someone other than initial purchasers of the Private Placement Warrants or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. Because the terms of the Private Placement Warrants and Public Warrants are so similar, we classified both types of Warrants as a derivative liability measured at fair value. Volatility in our Public Shares and Public Warrants may result in significant changes in the value of the derivatives and resulting gains and losses on our statement of operations.

~~Management does~~Earnings ~~not~~per ~~believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material~~Common ~~effect on our financial statements.~~Share

~~Recent~~Basic ~~Accounting~~earnings ~~Pronouncements~~per common share is computed by dividing net income applicable to common stockholders by the weighted average number of common shares outstanding during the period. All shares of Class B common stock are assumed to convert to shares of Class A common stock on a one-for-one basis. Earnings and losses are shared pro rata between the two classes of shares. Potential common shares for outstanding warrants to purchase the Company’s stock were excluded from diluted earnings per share for the three and nine months ended September 30, 2022 and 2021 because the Warrants are contingently exercisable, and the contingencies have not yet been met. As a result, diluted earnings per common share is the same as basic earnings per common share for all periods presented.

~~In August~~Redeemable 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”, which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The new standard is effective for the Company on January 1, 2024, although early adoption is permitted. The ASU allows the use of the modified retrospective method or the fully retrospective method. The Company is still in the process of evaluating the impact of this new standard; however, the Company does not believe the initial impact of adopting the standard will result in any changes to the Company’s statements of financial position, operations or cash flows.Shares

InAll ~~June~~of ~~2022~~the 17,250,000 ~~the~~Public ~~FASB~~Shares ~~issued~~sold ~~ASU~~as ~~2022-03,~~part ~~ASC~~of ~~Subtopic~~the ~~820~~Public ~~“Fair~~Offering ~~Value~~contain ~~Measurement~~a ofredemption ~~Equity~~feature ~~Securities~~as ~~Subject~~described toin ~~Contractual~~the ~~Sale~~final ~~Restrictions”~~prospectus filed in connection with our Public Offering. ~~The~~In ~~ASU~~accordance ~~amends~~with FASB ASC ~~820~~480, to“Distinguishing ~~clarify~~Liabilities from ~~that~~Equity”, aredemption ~~contractual~~provisions ~~sales~~not ~~restriction~~solely iswithin ~~not~~the ~~considered~~control inof ~~measuring~~the anCompany ~~equity~~ require the security atto ~~fair~~be ~~value~~classified ~~and~~outside of topermanent ~~introduce~~equity. ~~new~~Conditionally ~~disclosure~~redeemable ~~requirements~~Class ~~for~~A ~~equity~~common ~~securities~~stock ~~subject~~(including toshares ~~contractual~~of ~~sale~~Class ~~restrictions~~A common stock that feature redemption rights that are ~~measured~~either atwithin ~~fair~~the ~~value.~~control ~~The~~of ~~ASU~~the ~~applies~~holder or subject to ~~both~~redemption ~~holders~~upon ~~and~~the ~~issuers~~occurrence of ~~equity~~uncertain ~~and~~events ~~equity-linked~~not ~~securities~~solely within ~~measured~~our atcontrol) ~~fair~~is ~~value~~classified as temporary equity. ~~The~~ ~~amendments~~At inall ~~this~~other ~~ASU~~times, ~~are~~Class ~~effective~~A ~~for~~common ~~the~~stock ~~Company~~is inclassified ~~fiscal~~as ~~years~~stockholders’ equity. ~~beginning~~Our ~~after~~Public ~~December~~Shares ~~15,~~feature ~~2023,~~certain redemption rights that are considered to be outside of our control and ~~interim~~subject ~~periods~~to ~~within~~the ~~those~~occurrence ~~fiscal~~of ~~years.~~uncertain ~~Early~~future ~~adoption~~events. isAccordingly, ~~permitted~~as ~~for~~of ~~both~~September ~~interim~~30, 2022 and ~~annual~~December ~~financial~~31, ~~statements~~2021, ~~that~~17,250,000 ~~have~~shares ~~not~~of ~~yet~~Class ~~been~~A common ~~issued~~stock orsubject ~~made available~~to ~~for~~possible ~~issuance.~~redemption ~~The~~at ~~Company~~the isredemption ~~considering~~amount ~~the~~were ~~impact~~presented at redemption value as temporary equity, outside of ~~this~~stockholders’ ~~pronouncement~~equity on ~~the~~our ~~financial~~Condensed ~~statements~~Balance Sheet.

2022

~~Item 3.~~Recent ~~Quantitative and Qualitative Disclosures About Market Risk.~~Accounting Standards

AsManagement ofdoes ~~June~~not 30believe that any other recently issued, ~~2022~~but not yet effective, weaccounting ~~were~~standards, ~~not~~if ~~subject~~currently toadopted, ~~any~~would ~~market~~have ora ~~interest~~material effect ~~rate~~on ~~risk~~our financial statements.

~~We have~~Recent ~~not engaged in any hedging activities since our inception. We do not expect to engage in any hedging activities with respect to~~Accounting ~~the market risk to which we are exposed.~~Pronouncements

~~Item~~In 4August 2020, the FASB issued Accounting Standards Update (“ASU”) No. ~~Controls~~2020-06, “Debt—Debt with Conversion and ~~Procedures~~Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”, which simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The new standard is effective for the Company on January 1, 2024, although early adoption is permitted. The ASU allows the use of the modified retrospective method or the fully retrospective method. The Company is still in the process of evaluating the impact of this new standard; however, the Company does not believe the initial impact of adopting the standard will result in any changes to the Company’s statements of financial position, operations or cash flows.

~~Evaluation~~In June 2022, the FASB issued ASU 2022-03, ASC Subtopic 820 “Fair Value Measurement of ~~Disclosure~~Equity ~~Controls~~Securities Subject to Contractual Sale Restrictions”. The ASU amends ASC 820 to clarify that a contractual sales restriction is not considered in measuring an equity security at fair value and ~~Procedures~~to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The ASU applies to both holders and issuers of equity and equity-linked securities measured at fair value. The amendments in this ASU are effective for the Company in fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is considering the impact of this pronouncement on the financial statements.

~~Disclosure controls~~Item and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms3. ~~Disclosure~~Quantitative ~~controls~~ and ~~procedures~~Qualitative ~~include,~~Disclosures ~~without~~About ~~limitation,~~Market controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosureRisk.

As ~~required by Rules 13a-15 and 15d-15 under the Exchange Act, our management carried out an evaluation~~ of ~~the~~September effectiveness of the design and operation of our disclosure controls and procedures under the supervision of our Chief Executive Officer and our Chief Financial Officer and concluded that our disclosure controls and procedures are not effective as of June 30, 2022 ~~because of the identification of a material weakness in our internal control over financial reporting relating to the accounting treatment for complex financial instruments. A material weakness~~, aswe ~~defined~~were in the SEC regulations, is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not besubject ~~prevented or detected on a timely basis. In light of this material weakness, we performed additional analysis as deemed necessary~~ to ~~ensure~~any ~~that~~market ~~our~~or ~~financial~~interest ~~statements~~rate ~~were prepared in accordance with U~~risk.~~S. generally accepted accounting principles.~~

~~Management~~We ~~has~~have ~~enhanced~~not ~~our~~engaged ~~processes~~in toany ~~identify~~hedging ~~and~~activities ~~appropriately~~since ~~apply applicable accounting requirements to better evaluate and understand the nuances of the complex accounting standards that apply to~~ our ~~financial statements~~inception. ~~Our~~We ~~updated~~do ~~processes~~not ~~include~~expect ~~providing enhanced access~~ to ~~accounting~~engage ~~literature,~~in ~~research~~any ~~materials~~hedging ~~and~~activities ~~documents~~with ~~and~~respect ~~increased~~to ~~communication among our personnel and third-party professionals~~the ~~with~~market ~~whom~~risk weto ~~consult~~which ~~regarding complex accounting applications. The elements of our remediation plan can only be accomplished over time, and~~ we ~~can~~are ~~offer no assurance that these initiatives will ultimately have the intended effects~~exposed.

~~Changes in Internal Control over Financial Reporting~~23

~~There was~~Item no change in our internal control over financial reporting that occurred during the fiscal quarter of June 30, 2022 covered by this Quarterly Report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting4. In ~~light~~Controls ~~of the material weakness, we have enhanced our processes to identify~~ and ~~appropriately apply applicable accounting requirements to better evaluate and understand the nuances of the complex accounting standards that apply to our financial statements~~Procedures. Our plans at this time include providing enhanced access to accounting literature, research materials and documents and increased communication among our personnel and third-party professionals with whom we consult regarding complex accounting applications. The elements of our remediation plan can only be accomplished over time, and we can offer no assurance that these initiatives will ultimately have the intended effects.

21Evaluation of Disclosure Controls and Procedures

~~PART~~Disclosure ~~II—OTHER~~controls ~~INFORMATION~~and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

~~Item~~As 1required by Rules 13a-15 and 15d-15 under the Exchange Act, our management carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures under the supervision of our Chief Executive Officer and our Chief Financial Officer and concluded that our disclosure controls and procedures are not effective as of September 30, 2022 because of the identification of a material weakness in our internal control over financial reporting relating to the accounting treatment for complex financial instruments. A ~~Legal~~material ~~Proceedings~~weakness, as defined in the SEC regulations, is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. In light of this material weakness, we performed additional analysis as deemed necessary to ensure that our financial statements were prepared in accordance with U.S. generally accepted accounting principles.

~~None~~Management has enhanced our processes to identify and appropriately apply applicable accounting requirements to better evaluate and understand the nuances of the complex accounting standards that apply to our financial statements. Our updated processes include providing enhanced access to accounting literature, research materials and documents and increased communication among our personnel and third-party professionals with whom we consult regarding complex accounting applications. The elements of our remediation plan can only be accomplished over time, and we can offer no assurance that these initiatives will ultimately have the intended effects.

~~Item~~Changes in Internal ~~1A.~~Control ~~Risk~~over ~~Factors~~Financial Reporting

There ~~are~~was ~~certain~~no ~~risks~~change ~~and uncertainties~~ in our ~~business~~internal ~~that~~control ~~could~~over ~~cause~~financial ~~our~~reporting ~~actual~~that ~~results~~occurred toduring ~~differ~~the ~~materially~~fiscal ~~from~~quarter ~~those anticipated. A detailed discussion~~ of ~~our~~September ~~risk factors was included in Part I~~30, ~~Item~~2022 ~~1A,~~covered ~~“Risk~~by this ~~Factors”~~Quarterly ~~of our Annual~~ Report onthat ~~Form~~has ~~10-K for~~materially ~~the year ended December 31~~affected, ~~2021,~~or ~~filed~~is ~~with~~reasonably ~~the~~likely ~~Securities~~to ~~and~~materially ~~Exchange~~affect, ~~Commission~~our oninternal ~~March~~control ~~29,~~over ~~2022~~financial reporting. ~~These~~In ~~risk~~light ~~factors~~of ~~should be~~the ~~read~~material ~~carefully~~weakness, inwe ~~connection~~have ~~with~~enhanced ~~evaluating~~ our ~~business~~processes ~~and~~to inidentify ~~connection~~and ~~with~~appropriately ~~the~~apply ~~forward-looking~~applicable ~~statements and other information~~accounting ~~contained~~requirements into ~~this~~better ~~Quarterly~~evaluate ~~Report~~and onunderstand ~~Form~~the ~~10-Q.~~nuances ~~Any~~ of the ~~risks~~complex ~~described~~accounting instandards ~~the~~that ~~Annual~~apply ~~Report~~to onour ~~Form~~financial ~~10-K~~statements. Our ~~for~~plans ~~the~~at ~~year~~this ~~ended~~time ~~December 31, 2021,~~include ~~could~~providing ~~materially~~enhanced ~~affect~~access ~~our~~to ~~business~~accounting literature, ~~financial~~research ~~condition~~materials orand ~~future~~documents ~~results~~ and ~~the~~increased ~~actual~~communication among ~~outcome~~our ofpersonnel ~~matters~~and asthird-party toprofessionals ~~which~~with ~~forward-looking statements~~whom ~~are~~we ~~made.~~consult ~~There~~regarding ~~have~~complex ~~been~~accounting noapplications. ~~material~~The ~~changes~~elements toof ~~the~~our remediation ~~risk~~plan ~~factors~~can ~~set~~only ~~forth~~be inaccomplished ~~the~~over ~~Annual~~time, ~~Report~~and onwe ~~Form~~can ~~10-K~~offer ~~for~~no ~~the~~assurance ~~year ended~~that ~~December 31,~~these ~~2021, except~~initiatives ~~for~~will ultimately have the ~~following:~~intended effects.

Our search for an Initial Business Combination, and any target business with which we ultimately consummate an Initial Business Combination, may be materially adversely affected by the ongoing coronavirus (COVID-19) outbreak, the geopolitical conditions resulting from the recent invasion of Ukraine by Russia and subsequent sanctions against Russia, Belarus and related individuals and entities and the status of debt and equity markets, as well as protectionist legislation in our target markets.24

~~The global~~PART ~~spread~~II—OTHER and unprecedented impact of COVID-19, including variants of the virus (such as the Delta and Omicron variants), has resulted in significant disruption and has created additional risks to the Company’s and target companies’ businesses, the industry and the economy. In March 2020, the World Health Organization declared novel coronavirus disease 2019 (COVID-19) a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains, lowered equity market valuations, created significant volatility and disruption in financial markets, and increased unemployment levels, all of which may become heightened concerns upon a second wave of infection or future developments. In addition, the pandemic has resulted in temporary closures of many businesses and the institution of social distancing and sheltering in place requirements in many states and communities. The COVID-19 pandemic has and a significant outbreak of other infectious diseases could result in a widespread health crisis that could adversely affect the economies and financial markets worldwide, and the business of any potential partner business with which we consummate an Initial Business Combination could be materially and adversely affected.INFORMATION

~~In addition,~~Item ~~our~~1. ~~ability~~Legal to consummate a transaction may be dependent on the ability to raise equity and debt financing which may be impacted by COVID-19 and other events, including as a result of increased market volatility, decreased market liquidity and third-party financing being unavailable on terms acceptable to us or at all.Proceedings

Finally, a sustained or prolonged COVID-19 resurgence, such as the new Omicron variant, may also have the effect of heightening many of the other risks described in the “Risk Factors” section, such as those related to the market for our securitiesNone.

22Item 1A. Risk Factors

~~United~~There ~~States and global markets~~ are ~~experiencing~~certain ~~volatility~~risks and ~~disruption~~uncertainties ~~following~~in ~~the~~our ~~escalation~~business ofthat ~~geopolitical~~could ~~tensions~~cause ~~and~~our ~~the~~actual ~~recent invasion~~results ofto ~~Ukraine~~differ bymaterially ~~Russia~~from inthose ~~February 2022~~anticipated. InA detailed ~~response~~discussion toof ~~such~~our ~~invasion,~~risk ~~the~~factors ~~North~~was ~~Atlantic~~included ~~Treaty~~in ~~Organization~~Part ~~(“NATO”) deployed additional military forces to eastern Europe~~I, ~~and~~Item ~~the United States~~1A, ~~the~~“Risk ~~United~~Factors” ~~Kingdom,~~of ~~the~~our ~~European~~Annual ~~Union~~Report ~~and~~on ~~other~~Form ~~countries~~10-K ~~have~~for ~~announced~~the ~~various~~year ~~sanctions~~ended ~~and~~December 31, ~~restrictive actions against Russia~~2021, ~~Belarus~~filed ~~and~~with ~~related~~the ~~individuals~~Securities and ~~entities,~~Exchange ~~including~~Commission ~~the removal~~on ofMarch ~~certain~~29, ~~financial~~2022. ~~institutions~~These ~~from~~risk ~~the~~factors ~~Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system.~~should ~~Certain~~be ~~countries,~~read ~~including~~carefully ~~the~~in ~~United~~connection ~~States,~~with ~~have~~evaluating ~~also~~our ~~provided~~business and ~~may~~in ~~continue~~connection towith ~~provide~~the ~~military~~forward-looking ~~aid~~statements orand other ~~assistance to Ukraine~~information ~~during~~contained ~~the~~in ~~ongoing~~this ~~military~~Quarterly ~~conflict,~~Report ~~increasing~~on ~~geopolitical~~Form ~~tensions with Russia~~10-Q. ~~The~~Any ~~invasion~~ of ~~Ukraine by Russia and~~ the ~~resulting measures~~risks ~~that~~described ~~have been taken, and could be taken~~ in the ~~future,~~Annual byReport ~~NATO,~~on ~~the~~Form ~~United~~10-K ~~States,~~for the ~~United~~year ~~Kingdom,~~ended ~~the European Union and~~December 31, ~~other~~2021, ~~countries~~could ~~have~~materially ~~created~~affect ~~global~~our ~~security~~business, ~~concerns~~financial ~~that~~condition ~~could~~or ~~have~~future aresults ~~lasting impact on regional~~ and ~~global economies. Although~~ the ~~length~~ ~~and~~actual ~~impact~~outcome of ~~the~~matters ~~ongoing~~as ~~military conflict in Ukraine is highly unpredictable, the conflict could lead~~ to ~~market~~which ~~disruptions,~~forward-looking ~~including~~statements ~~significant~~are ~~volatility~~made. inThere ~~commodity~~have ~~prices,~~been ~~credit~~no ~~and~~material ~~capital~~changes ~~markets,~~to ~~as well as supply chain interruptions. Additionally, Russian military actions and~~ the ~~resulting~~risk ~~sanctions~~factors ~~could~~set ~~adversely~~forth ~~affect~~in the ~~global~~Annual ~~economy~~Report ~~and~~on ~~financial~~Form ~~markets~~10-K ~~and~~for ~~lead~~the ~~to instability~~year ~~and~~ended ~~lack~~December 31, of2021, except ~~liquidity~~for inthe ~~capital markets.~~following:

~~Any~~Our ofsearch ~~the~~for ~~abovementioned~~an ~~factors,~~Initial orBusiness ~~any other negative impact on the global economy~~Combination, ~~capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine~~ and ~~subsequent sanctions, could adversely affect our search for a business combination and~~ any target business with which we ultimately consummate aan ~~business~~Initial ~~combination.~~Business ~~The extent and duration of the Russian invasion of Ukraine~~Combination, ~~resulting~~ ~~sanctions~~may ~~and~~be ~~any~~materially ~~related~~adversely ~~market~~affected ~~disruptions~~by ~~are~~the ~~impossible~~ongoing tocoronavirus ~~predict,~~(COVID-19) ~~but could be substantial~~outbreak, ~~particularly~~the ifgeopolitical ~~current~~conditions orresulting ~~new~~from ~~sanctions~~the recent ~~continue~~invasion ~~for an extended period~~ of ~~time~~Ukraine orby ifRussia ~~geopolitical~~and ~~tensions~~subsequent ~~result~~sanctions inagainst ~~expanded~~Russia, ~~military~~Belarus ~~operations~~and onrelated aindividuals ~~global~~and ~~scale.~~entities ~~Any~~and ~~such disruptions may also have~~ the ~~effect~~status of ~~heightening many of the other risks described in the “Risk Factors” section of our~~ ~~Annual~~debt ~~Report~~and onequity ~~Form 10-K~~markets, ~~such~~ as ~~those~~well ~~related~~as toprotectionist ~~the~~legislation ~~market for our securities, cross-border transactions or our ability to raise equity or debt financing~~ in ~~connection with any particular business combination. If these disruptions or other matters of global concern continue for an extensive period of time,~~ our ~~ability to consummate a business combination, or the operations of a~~ target ~~business with which we ultimately consummate a business combination, may be materially adversely affected~~markets.

InThe ~~addition~~global spread and unprecedented impact of COVID-19, including variants of the ~~recent~~virus ~~invasion~~(such ofas ~~Ukraine~~the byDelta ~~Russia~~and Omicron variants), has resulted in significant disruption and has created additional risks to the ~~impact~~Company’s ofand ~~sanctions~~target ~~against~~companies’ ~~Russia~~businesses, the industry and the ~~potential~~economy. ~~for~~In ~~retaliatory~~March ~~acts~~2020, the World Health Organization declared novel coronavirus disease 2019 (COVID-19) a global ~~from~~pandemic. ~~Russia~~The COVID-19 pandemic has negatively impacted the global economy, ~~could~~disrupted ~~result~~global supply chains, lowered equity market valuations, created significant volatility and disruption in financial markets, and increased ~~cyber-attacks~~unemployment ~~against~~levels, Uall of which may become heightened concerns upon a new wave of infection or future developments.S In addition, the pandemic has, in the past, resulted in temporary closures of many businesses and the institution of social distancing and sheltering in place requirements in many states and communities. ~~companies~~The COVID-19 pandemic has and a significant outbreak of other infectious diseases could result in a widespread health crisis that could adversely affect the economies and financial markets worldwide, and the business of any potential partner business with which we consummate an Initial Business Combination could be materially and adversely affected.

~~There~~In isaddition, ~~substantial~~our ~~doubt~~ability ~~about~~to ~~our~~consummate a transaction may be dependent on the ability to ~~continue~~raise equity and debt financing which may be impacted by COVID-19 and other events, including as a ~~“going~~result ~~concern~~of increased market volatility, decreased market liquidity and third-party financing being unavailable on terms acceptable to us or at all.”

AsFinally, ofa ~~June~~sustained ~~30,~~or ~~2022,~~prolonged weCOVID-19 ~~had $671~~resurgence,~~082~~ insuch ~~cash~~as ~~and~~the ~~working~~Omicron ~~capital of $783~~variant,~~025.~~ ~~Further,~~may wealso have ~~incurred~~ ~~and~~the ~~expect~~effect toof ~~continue~~heightening tomany ~~incur significant costs in pursuit~~ of ~~our~~the ~~acquisition~~other ~~plans. Management’s plans to address this~~risks ~~need~~described ~~for capital are discussed~~ in the ~~section of this Quarterly Report titled~~ “~~Management’s~~Risk ~~Discussion and Analysis of Financial Condition and Results of Operations.~~Factors” Ifsection, wesuch ~~are~~as ~~unable~~those torelated ~~raise additional funds~~ to ~~alleviate liquidity needs and complete an Initial Business Combination by May 11, 2023, then we will cease all operations except for~~ the ~~purpose~~market ~~of liquidating. The liquidity condition and date~~ for ~~mandatory liquidation and subsequent dissolution raise substantial doubt about~~ our ~~ability to continue as a going concern~~securities. Management intends to complete an Initial Business Combination on or before May 11, 2023. However, it is uncertain whether management will succeed in doing so. The financial statements contained elsewhere in this Quarterly Report do not include any adjustments that might result from our inability to continue as a going concern.

23United States and global markets are experiencing volatility and disruption following the escalation of geopolitical tensions and the recent invasion of Ukraine by Russia in February 2022. In response to such invasion, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine during the ongoing military conflict, increasing geopolitical tensions with Russia. The invasion of Ukraine by Russia and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing military conflict in Ukraine is highly unpredictable, the conflict could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions. Additionally, Russian military actions and the resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets.

~~Item 2. Unregistered Sales of Equity Securities and Use of Proceeds~~25

~~Unregistered~~Any ~~Sales~~of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of ~~Equity~~Ukraine ~~Securities~~and subsequent sanctions, could adversely affect our search for a business combination and any target business with which we ultimately consummate a business combination. The extent and duration of the Russian invasion of Ukraine, resulting sanctions and any related market disruptions are impossible to predict, but could be substantial, particularly if current or new sanctions continue for an extended period of time or if geopolitical tensions result in expanded military operations on a global scale. Any such disruptions may also have the effect of heightening many of the other risks described in the “Risk Factors” section of our Annual Report on Form 10-K, such as those related to the market for our securities, cross-border transactions or our ability to raise equity or debt financing in connection with any particular business combination. If these disruptions or other matters of global concern continue for an extensive period of time, our ability to consummate a business combination, or the operations of a target business with which we ultimately consummate a business combination, may be materially adversely affected.

OnIn ~~May 11~~addition, ~~2021, simultaneously with~~ the ~~closing~~recent ofinvasion ~~the Public Offering, we completed the private sale~~ of ~~555,000~~Ukraine ~~Private~~by ~~Placement Units at a purchase price of $10.00 per Private Placement Unit~~Russia, toand the ~~Sponsor,~~impact ~~generating gross proceeds to us~~ of ~~$5,550,000.~~sanctions Onagainst ~~June~~Russia ~~14, 2021,~~and ~~simultaneously with~~ the ~~sale~~potential offor ~~the~~retaliatory ~~Over-Allotment Public Units, we consummated a private sale of 45,000 Over-Allotment Private~~acts ~~Placement~~from ~~Units to our Sponsor~~Russia, ~~generating~~could ~~gross~~result ~~proceeds of $450,000. The Private Placement Units and the Over-Allotment Private Placement Units are substantially identical to the Public Units sold~~ in ~~the~~increased ~~Public Offering, except that our Sponsor has agreed not to transfer, assign or sell any of the Private Placement Units or Over~~cyber-~~Allotment~~attacks ~~Private~~against ~~Placement Units (except to certain permitted transferees) until 30 days after the completion of our Initial Business Combination~~U. The Private Placement Warrants underlying the Private Placement Units and the Over-Allotment Private Placement Units are also not redeemable by us so long as they are held by our Sponsor or its permitted transferees, and they may be exercised by our Sponsor and its permitted transferees on a cashless basisS. The Private Placement Units and the Over-Allotment Private Placement Units were issued in connection with our incorporation pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”)companies.

~~Use~~There ofis ~~Proceeds~~substantial doubt about our ability to continue as a “going concern.”

OnAs ~~May~~of 11September 30, ~~2021~~2022, wethe ~~consummated~~Company ~~the~~had ~~Public~~$513,763 in ~~Offering~~its ofoperating 15bank account,~~000~~ $173,~~000~~216,348 in ~~Public~~investments ~~Units.~~held ~~Each~~in ~~Public~~the ~~Unit~~Trust Account ~~consists~~to ofbe ~~one~~used ~~Public~~for ~~Share~~an ~~and one-third of one~~Initial ~~Public~~Business ~~Warrant.~~Combination ~~Each~~or ~~whole~~to ~~Public~~repurchase ~~Warrant~~or ~~entitles~~redeem ~~the~~its ~~holder~~public ~~thereof~~shares toin ~~purchase~~connection ~~one~~therewith ~~share~~and working capital of ~~Class A~~$ ~~common~~$597,532, ~~stock~~which ~~for~~excludes income taxes payable of $~~11.50~~91,400 and Delaware franchise ~~per~~taxes ~~share~~payable of $71,342 (which is included in accounts payable and ~~only~~accrued ~~whole~~expenses ~~Warrants~~at September 30, 2022) as franchise taxes are paid ~~exercisable~~from the Trust Account from interest income earned. ~~The~~Further, ~~Public~~we ~~Warrants~~have ~~will~~incurred ~~become~~and ~~exercisable~~expect 30to ~~days~~continue ~~after~~to ~~the~~incur ~~completion~~significant costs in pursuit of our ~~Initial Business~~acquisition ~~Combination~~plans. ~~and~~Management’s ~~will~~plans ~~expire~~to ~~five~~address ~~years~~this ~~after~~need for capital are discussed in the ~~completion~~section of ~~our~~this Quarterly ~~Initial~~Report ~~Business~~titled ~~Combination~~“Management’s orDiscussion ~~earlier~~and ~~upon~~Analysis ~~redemption~~of ~~or liquidation~~Financial Condition and Results of Operations.” ~~Subject~~If we are unable to ~~certain~~raise ~~terms~~additional funds to alleviate liquidity needs and ~~conditions~~complete an Initial Business Combination by May 11, 2023, then we ~~may~~will ~~redeem~~cease all operations except for the ~~Public~~purpose ~~Warrants~~of ~~either~~liquidating. ~~for~~The ~~cash~~liquidity ~~once~~condition ~~the~~and ~~Public~~date ~~Warrants~~for ~~become~~mandatory liquidation and subsequent ~~exercisable~~dissolution orraise ~~for~~substantial ~~shares~~doubt ofabout our ~~Class A~~ability ~~common~~to ~~stock~~continue ~~after~~as ~~the~~a ~~Public~~going ~~Warrants~~concern. ~~become~~Management ~~exercisable.~~intends Onto ~~June~~complete 14an Initial Business Combination on or before May 11, ~~2021~~2023. However, ~~the~~it ~~underwriters exercised~~is ~~the~~uncertain ~~over-allotment~~whether ~~option~~management will succeed in ~~full~~doing ~~and~~so. ~~purchased~~The anfinancial ~~additional~~statements contained ~~2,250,000~~elsewhere ~~Public~~in ~~Units,~~this ~~generating~~Quarterly ~~additional~~Report ~~gross~~do ~~proceeds of~~not ~~$22,500,000~~include any adjustments that might result from our inability to continue as a going concern.

~~The~~Recent ~~Public~~increases ~~Units~~in ~~were~~inflation ~~sold~~and atinterest arates ~~price~~in ~~of $10.00 per Public Unit, generating gross proceeds to~~ the ~~Company~~United ofStates ~~$172,500,000.~~and B.elsewhere ~~Riley~~could ~~Securities, Inc.~~make ~~served~~it asmore ~~the~~difficult ~~sole book-running manager~~ for ~~the~~us ~~Public~~to ~~Offering. The~~consummate ~~securities~~an ~~sold in the Public Offering were registered~~Initial ~~under~~Business ~~the Securities Act on a registration statement on Form S-1 (No~~Combination. ~~333-253464). The SEC declared the registration statement effective on May 7, 2021.~~

WeRecent ~~paid~~increases ~~a total of $3,450,000~~ in ~~underwriting~~inflation ~~discounts~~ and ~~commissions~~interest ~~and~~rates ~~$571,103 for other costs and expenses related to the Public Offering. B. Riley Securities, Inc., an underwriter~~ in the ~~Public~~United ~~Offering,~~States and anelsewhere ~~affiliate~~has ~~of us~~ and ~~our~~may ~~Sponsor~~continue ~~(which~~to ~~Sponsor~~lead ~~beneficially owns~~to ~~more~~increased ~~than~~price ~~10%~~volatility for ofpublicly ~~our~~traded ~~common~~securities, ~~stock)~~including ~~received~~ours, ~~a portion of the underwriting discounts~~ and ~~commissions~~may ~~related~~lead to ~~the Public~~other ~~Offering. After~~national, ~~deducting~~regional ~~the underwriting discounts~~ and ~~commissions~~international ~~and~~economic ~~incurred offering costs~~disruptions, ~~the~~any ~~total net proceeds from our Public Offering (including the over-allotment) and the sale~~ of ~~the Private Placement Warrants (including the Over-Allotment Private Placement Warrants)~~ ~~were $173,409,563 of~~ which ~~$172,500,000 (or~~could ~~$10.00~~make ~~per~~it ~~Public~~more ~~Unit~~difficult ~~sold~~for ~~in the Public Offering) was placed in the Trust Account. We also repaid $100,000 in noninterest bearing loans made to~~ us ~~by our Sponsor~~ to ~~cover~~consummate ~~expenses~~an ~~related~~Initial toBusiness ~~the Public Offering~~Combination. ~~Other than as described above, no payments were made by us to directors, officers or persons owning ten percent or more of our common stock or to their associates, or to our affiliates.~~

~~Item~~If 3we are deemed to be an investment company for purposes of the Investment Company Act, we may be forced to abandon our efforts to complete an Initial Business Combination and instead be required to liquidate the Company. ~~Defaults~~To ~~Upon~~mitigate ~~Senior~~the ~~Securities~~risk of that result, on or prior to the 24-month anniversary of the effective date of the registration statement relating to our Public Offering, we may instruct Continental Stock Transfer & Trust Company to liquidate the securities held in the Trust Account and instead hold all funds in the Trust Account in cash. As a result, following such change, we will likely receive minimal, if any, interest, on the funds held in the Trust Account, which would reduce the dollar amount that our public stockholders would have otherwise received upon any redemption or liquidation of the Company if the assets in the Trust Account had remained in U.S. government securities or money market funds.

~~None.~~26

~~Item~~On 4March 30, 2022, the SEC issued proposed rules (the “SPAC Rule Proposals”), relating, among other things, to circumstances in which special purpose acquisition companies (“SPACs”) such as us could potentially be subject to the Investment Company Act and the regulations thereunder. ~~Mine~~The ~~Safety~~SPAC ~~Disclosures~~Rule Proposals would provide a safe harbor for such companies from the definition of “investment company” under Section 3(a)(1)(A) of the Investment Company Act, provided that a SPAC satisfies certain criteria. To comply with the duration limitation of the proposed safe harbor, a SPAC would have a limited time period to announce and complete a de-SPAC transaction. Specifically, to comply with the safe harbor, the SPAC Rule Proposals would require a company to file a report on Form 8-K announcing that it has entered into an agreement with a target company for an initial business combination no later than 18 months after the effective date of the registration statement for its initial public offering. The company would then be required to complete its initial business combination no later than 24 months after the effective date of the registration statement for its initial public offering. We understand that the SEC has recently been taking informal positions regarding the Investment Company Act consistent with the SPAC Rule Proposals.

~~None~~There is currently uncertainty concerning the applicability of the Investment Company Act to a SPAC, including a company like ours, that does not complete its initial business combination within the proposed time frame set forth in the proposed safe harbor rule. As indicated above, the registration statement for our Public Offering became effective in May 2021 and we have operated as a blank check company searching for a target business with which to consummate an Initial Business Combination since such time (or approximately 18 months after the effective date of our registration statement for our Public Offering, as of the date of this Quarterly Report). If we were deemed to be an investment company for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete an Initial Business Combination and instead be required to liquidate the Company. If we are required to liquidate the Company, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our stock and Warrants following such a transaction, and our Warrants would expire worthless.

~~Item~~The 5funds in the Trust Account have, since our Public Offering, been held only in U.S. ~~Other~~government ~~Information~~treasury obligations with a maturity of 185 days or less or in money market funds investing solely in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. As of September 30, 2022, amounts held in Trust Account included approximately $716,348 of accrued interest. To mitigate the risk of us being deemed to have been operating as an unregistered investment company under the Investment Company Act, we may, on or prior to the 24-month anniversary of the effective date of the registration statement relating to our Public Offering, or May 7, 2023, instruct Continental Stock Transfer & Trust Company, the trustee with respect to the Trust Account, to liquidate the U.S. government treasury obligations or money market funds held in the Trust Account and thereafter to hold all funds in the Trust Account in cash (i.e., in one or more bank accounts) until the earlier of the consummation of an Initial Business Combination or our liquidation. Following such liquidation of the assets in our Trust Account, we will likely receive minimal interest, if any, on the funds held in the Trust Account, which would reduce the dollar amount our public stockholders would have otherwise received upon any redemption or liquidation of the Company if the assets in the Trust Account had remained in U.S. government securities or money market funds. This means that the amount available for redemption will not increase after such liquidation.

~~None~~In addition, even prior to the 24-month anniversary of the effective date of the registration statement relating to our Public Offering, we may be deemed to be an investment company. The longer that the funds in the Trust Account are held in short-term U.S. government securities or in money market funds invested exclusively in such securities, even prior to the 24-month anniversary, there is a greater risk that we may be considered an unregistered investment company, in which case we may be required to liquidate. Accordingly, we may determine, in our discretion, to liquidate the securities held in the Trust Account at any time, even prior to the 24-month anniversary, and instead hold all funds in the Trust Account in cash, which would further reduce the dollar amount our public stockholders would receive upon any redemption or our liquidation.

2427

~~Item~~A 6new 1% U.S. ~~Exhibits~~federal excise tax could be imposed on us in connection with redemptions by us of our shares or our liquidation.

~~The~~On ~~exhibits~~August ~~filed~~16, as2022, ~~part~~President Biden signed into law the Inflation Reduction Act of 2022 (the “IR Act”), which, among other things, imposes a new 1% U.S. federal excise tax on certain repurchases of stock by “covered corporations” (which include publicly traded domestic (i.e., U.S.) corporations) beginning in 2023, with certain exceptions (the “Excise Tax”). The Excise Tax is imposed on the repurchasing corporation itself, not its stockholders from which the stock is repurchased. Because we are a Delaware corporation and our securities are trading on The Nasdaq Stock Market LLC, we are a “covered corporation” for this ~~Quarterly~~purpose. ~~Report~~The amount of the Excise Tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the Excise Tax, repurchasing corporations are ~~listed~~permitted into net the ~~index~~fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to ~~exhibits~~the ~~immediately~~Excise ~~preceding~~Tax. ~~such~~The U.S. ~~exhibits~~Department of the Treasury has authority to provide regulations and other guidance to carry out, ~~which~~and ~~index~~prevent the abuse or avoidance of, the Excise Tax; however, no guidance has been issued to ~~exhibits~~date. It is ~~incorporated~~uncertain ~~herein~~whether, and to what extent, the Excise Tax could apply to any repurchase by ~~reference~~us of our Class A common stock or in the event of our liquidation, in each instance after December 31, 2022, including any redemptions in connection with an Initial Business Combination or in the event we do not consummate an Business Combination by May 11, 2023.

~~Exhibit~~Whether ~~Index~~and to what extent we would be subject to the Excise Tax on a redemption of our shares of Class A common stock or other stock issued by us would depend on a number of factors, including (i) whether the redemption is treated as a repurchase of stock for purposes of the Excise Tax, (ii) the fair market value of the redemption treated as a repurchase of stock in connection with our Initial Business Combination, an extension or otherwise (iii) the structure of the Initial Business Combination, (iv) the nature and amount of any “PIPE” or other equity issuances in connection with the Initial Business Combination (or otherwise issued not in connection with the Initial Business Combination but issued within the same taxable year of a redemption treated as a repurchase of stock) and (v) the content of regulations and other guidance from the U.S. Department of the Treasury. As noted above, the Excise Tax would be payable by us, and not by the redeeming holder, and the mechanics of any required payment of the Excise Tax have not yet been determined. The imposition of the Excise Tax could cause a reduction in the cash available on hand to complete an Initial Business Combination or for effecting redemptions and may affect our ability to complete an Initial Business Combination. In addition, the Excise Tax could cause a reduction in the per share amount payable to our public stockholders in the event we liquidate the Trust Account due to a failure to complete an Initial Business Combination within the requisite timeframe.

Exhibit No.		Description
31.1*		Certification of Chief Executive Officer pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934
31.2*		Certification of Chief Financial Officer and Chief Operating Officer pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934
32.1**		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**		Certification of Chief Financial Officer and Chief Operating Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document.
101.SCH*		Inline XBRL Taxonomy Extension Schema Document.
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

*Item ~~Filed herewith~~2. Unregistered Sales of Equity Securities and Use of Proceeds

**Unregistered ~~Furnished~~Sales of ~~herewith.~~Equity Securities

25On May 11, 2021, simultaneously with the closing of the Public Offering, we completed the private sale of 555,000 Private Placement Units at a purchase price of $10.00 per Private Placement Unit, to the Sponsor, generating gross proceeds to us of $5,550,000. On June 14, 2021, simultaneously with the sale of the Over-Allotment Public Units, we consummated a private sale of 45,000 Over-Allotment Private Placement Units to our Sponsor, generating gross proceeds of $450,000. The Private Placement Units and the Over-Allotment Private Placement Units are substantially identical to the Public Units sold in the Public Offering, except that our Sponsor has agreed not to transfer, assign or sell any of the Private Placement Units or Over-Allotment Private Placement Units (except to certain permitted transferees) until 30 days after the completion of our Initial Business Combination. The Private Placement Warrants underlying the Private Placement Units and the Over-Allotment Private Placement Units are also not redeemable by us so long as they are held by our Sponsor or its permitted transferees, and they may be exercised by our Sponsor and its permitted transferees on a cashless basis. The Private Placement Units and the Over-Allotment Private Placement Units were issued in connection with our incorporation pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).

~~SIGNATURES~~Use of Proceeds

~~Pursuant~~On toMay 11, 2021, we consummated the ~~requirements~~Public Offering of 15,000,000 Public Units. Each Public Unit consists of one Public Share and one-third of one Public Warrant. Each whole Public Warrant entitles the ~~Securities~~holder ~~Exchange~~thereof ~~Act~~to purchase one share of ~~1934~~Class A common stock for $11.50 per share, and only whole Warrants are exercisable. The Public Warrants will become exercisable 30 days after the ~~registrant~~completion ~~has~~of ~~duly~~our ~~caused~~Initial Business ~~this~~Combination ~~report~~and will expire five years after the completion of our Initial Business Combination or earlier upon redemption or liquidation. Subject to becertain ~~signed~~terms onand ~~its~~conditions, ~~behalf~~we bymay redeem the Public Warrants either for cash once the Public Warrants become exercisable or for shares of our Class A common stock after the ~~undersigned~~Public ~~thereunto~~Warrants ~~duly~~become ~~authorized~~exercisable. On June 14, 2021, the underwriters exercised the over-allotment option in full and purchased an additional 2,250,000 Public Units, generating additional gross proceeds of $22,500,000.

	B. RILEY PRINCIPAL 250 MERGER CORP.
Date: August 11, 2022	By:	/s/ DANIEL SHRIBMAN
	Name:	Daniel Shribman
	Title:	Chief Executive Officer and
		Chief Financial Officer
		(Principal Executive Officer,Principal Financial Officer and Principal Accounting Officer)

The Public Units were sold at a price of $10.00 per Public Unit, generating gross proceeds to the Company of $172,500,000. B. Riley Securities, Inc. served as the sole book-running manager for the Public Offering. The securities sold in the Public Offering were registered under the Securities Act on a registration statement on Form S-1 (No. 333-253464). The SEC declared the registration statement effective on May 7, 2021.

26We paid a total of $3,450,000 in underwriting discounts and commissions and $571,103 for other costs and expenses related to the Public Offering. B. Riley Securities, Inc., an underwriter in the Public Offering, and an affiliate of us and our Sponsor (which Sponsor beneficially owns more than 10% of our common stock) received a portion of the underwriting discounts and commissions related to the Public Offering. After deducting the underwriting discounts and commissions and incurred offering costs, the total net proceeds from our Public Offering (including the over-allotment) and the sale of the Private Placement Warrants (including the Over-Allotment Private Placement Warrants) were $173,409,563 of which $172,500,000 (or $10.00 per Public Unit sold in the Public Offering) was placed in the Trust Account. We also repaid $100,000 in noninterest bearing loans made to us by our Sponsor to cover expenses related to the Public Offering. Other than as described above, no payments were made by us to directors, officers or persons owning ten percent or more of our common stock or to their associates, or to our affiliates.

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None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

Item 6. Exhibits.

The exhibits filed as part of this Quarterly Report are listed in the index to exhibits immediately preceding such exhibits, which index to exhibits is incorporated herein by reference.

Exhibit Index

Exhibit No.		Description

31.1*		Certification of Chief Executive Officer pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934

31.2*		Certification of Chief Financial Officer and Chief Operating Officer pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934

32.1**		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2**		Certification of Chief Financial Officer and Chief Operating Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS*		Inline XBRL Instance Document.
101.SCH*		Inline XBRL Taxonomy Extension Schema Document.
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

*	Filed herewith.

**	Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	B. RILEY PRINCIPAL 250 MERGER CORP.

Date: November 9, 2022	By:	/s/ DANIEL SHRIBMAN
	Name:	Daniel Shribman
	Title:	Chief Executive Officer and Chief Financial Officer
		(Principal Executive Officer, Principal Financial Officer and
		Principal Accounting Officer)

B. 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