UNITED STATES

 SECURITIES AND EXCHANGE
COMMISSION

 Washington, D.C. 20549

 FORM 10-K

 Annual Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 For the year ended December
31, 2023

 Commission File Number 001-39534

 PMV CONSUMER ACQUISITION
CORP.

 (Exact name of registrant
as specified in its charter)

 Delaware

 84-5174573

 (State or Other Jurisdiction
 of Incorporation)

 (I.R.S. Employer
 Identification No.)

 249 Royal Palm Way, Suite 503
 Palm Beach, FL

 33480

 (Address of principal executive offices)

 (zip code)

 (561) 318-3766

 (Issuer'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

 Class A common stock, $0.0001 per share

 PMVC

 N/A

 Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $503.61 per share

 PMVC WS

 N/A

 Securities registered pursuant to Section 12(g)
of the Act: None

 Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

 Indicate by check mark if the registrant is not
required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes No

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

has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding
12 months (or for such shorter period that the registrant was required to submit such files). Yes No

is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or 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.

has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or
issued its audit report.

 If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.

 Indicate by check mark whether
any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the
registrant's executive officers during the relevant recovery period pursuant to § 240.10D-1(b).

is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

 As of June 30, 2023, the last business day of the registrant's most
recently completed second fiscal quarter, the aggregate market value of the Registrant's Class A common stock outstanding, other
than shares held by persons who may be deemed affiliates of the Registrant, was $ 0.

 As of March 28, 2024, there were
 73,169 shares of Class A common stock, par value $0.0001 per share, and 26,831 shares of Class B convertible common stock, par value
$0.0001 per share.

 Documents Incorporated by Reference: The information
contained in the registrant's prospectus dated September 21, 2020, as filed with the Securities and Exchange Commission on September
22, 2020, pursuant to Rule 424(b)(4) (SEC File No. (333-241670) is incorporated into certain portions of Parts I, II, and III, as disclosed
herein.

 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 This annual report, including,
without limitation, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results
of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of
the Exchange Act. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes,"
"estimates," "anticipates," "expects," "intends," "plans," "may,"
"will," "potential," "projects," "predicts," "continue," or "should,"
or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not
materially differ from expectations. Such statements include, but are not limited to, any statements relating to our ability to consummate
any acquisition or other business combination and any other statements that are not statements of current or historical facts. The se
statements are based on management's current expectations, but actual results may differ materially due to various factors, including,
but not limited to, our:

 ability
 to complete one or more business opportunities;

 success
 in retaining or recruiting, or changes required in, our officers, key employees or directors
 following the completion of one or more business opportunities;

 officers
 and directors allocating their time to other businesses and potentially having conflicts
 of interest with our business;

 potential
 ability to obtain additional financing to complete one or more business opportunities;

 pool
 of prospective business opportunities;

 failure
 to maintain the listing on, or the delisting of our securities from, the OTC Pink or an inability
 to have our securities traded on the OTC Market or listed on a national securities exchange
 following the completion of a business opportunity;

 ability
 of our officers and directors to generate a number of potential investment opportunities;

 potential
 change in control if we acquire one or more target businesses for stock;

 public
 securities' potential liquidity and trading;

 lack
 of a market for our securities;

 use
 of proceeds; or

 financial
 performance.

 The
forward-looking statements contained in this annual report are based on our current expectations and beliefs concerning future developments
 and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking
statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual
results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, those factors described under the heading "Risk Factors." Should one or more
of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects
from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These
risks and others described under "Risk Factors" may not be exhaustive.

 By their nature, forward-looking statements involve risks and uncertainties
because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking
statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and
developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements
contained in this annual report. In addition, even if our results of operations, financial condition and liquidity, and developments in
the industry in which we operate are consistent with the forward-looking statements contained in this annual report, those results or
developments may not be indicative of results or developments in subsequent periods.

 FORM 10-K

 Item
 1.

 Business.

 Item
 1A.

 Risk Factors.

 Item
 1B.

 Unresolved Staff Comments.

 Item
 1C.

 Cybersecurity

 Item
 2.

 Properties.

 1 4

 Item
 3.

 Legal Proceedings.

 1 4

 Item
 4.

 Mine Safety Disclosures.

 Item
 5.

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

 Item
 6.

 Reserved.

 Item
 7.

 Management's Discussion and Analysis of Financial Condition and Results of Operations.

 Item
 7A.

 Quantitative and Qualitative Disclosures About Market Risk.

 Item
 8.

 Financial Statements and Supplementary Data.

 Item
 9.

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosures.

 Item
 9A.

 Controls and Procedures.

 Item
 9B.

 Other Information.

 Item
 9C.

 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

 Item
 10.

 Directors, Executive Officers and Corporate Governance.

 Item
 11.

 Executive Compensation.

 Item
 12.

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 Item
 13.

 Certain Relationships and Related Transactions, and Director Independence.

 Item
 14.

 Principal Accounting Fees and Services.

 Item
 15.

 Exhibits, Financial Statement Schedules.

 Item
 16.

 Form 10-K Summary.

 i

 ITEM 1. BUSINESS

 In this Annual Report on Form 10-K (the "Form
10-K"), references to the "Company" and to "we," "us," and "our" refer to PMV Consumer
Acquisition Corp.

 We are a shell company formed under the laws
of the State of Delaware on March 18, 2020. We were formed for the purpose of entering into a merger, share exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (collectively,
a "business opportunity". Our efforts to identify a prospective business opportunity will not be limited to a particular
industry or geographic location, although we are currently focusing our search for business opportunities in the consumer industry.

 ITEM
1A. RISK FACTORS

 You
should understand that an investment in our securities involves a high degree of risk. The occurrence of one or more of the events or
circumstances described in this section "Risk Factors," alone or in combination with other events or circumstances, may materially
adversely affect our business, financial condition and operating results. In that event, the trading price of our securities could decline,
and you could lose all or part of your investment. The following is a summary of some of the risks and uncertainties that could materially
adversely affect our business, financial condition and results of operations. You should read this summary together with the more detailed
description of each risk factor incorporated by reference or contained herein below.

 Summary
of Risk Factors

 Our
public stockholders are relying on management to locate a suitable business opportunity. We may not be successful in identifying a suitable
business opportunity and, even if one is identified, no assurance can be provided that we will successfully negotiate and consummate
a transaction.

 Our
executive officers and directors will allocate their time to other businesses, thereby causing conflicts of interest in their determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to identify a business
opportunity and complete a transaction.

 Certain
of our executive officers and directors are now, and all of them may in the future become, affiliated with entities engaged in business
activities similar to those intended to be conducted by us and, accordingly, may have conflicts of interest in determining to which entity
a particular business opportunity should be presented.

 Our
limited resources may make our financial condition unattractive to potential business opportunities, which may make it difficult for
us to enter into a transaction.

 We
may engage in a business opportunity with one or more businesses or entities that have relationships with entities that may be affiliated
with our Sponsor, executive officers and directors, which may raise potential conflicts of interest.

 We
will likely only be able to complete one business opportunity, which will cause us to be solely dependent on a single business which
may have a limited number of products or services. This lack of diversification may negatively impact our operations and profitability.

 Our
warrants are accounted for as liabilities and changes in the value of our warrants could have a material effect on our financial results.

 The
risk factors set forth below provide more detailed disclosure of the risks relating to our operations.

 We
are a recently formed company with no operating history and no revenues, and you have no basis on which to evaluate our ability to achieve
our business objective.

 We
are a recently formed company with no operating results. Because we lack an operating history, you have no basis upon which to evaluate
our ability to achieve our business objectives. We have no plans, arrangements or understandings with respect to any business opportunity
and may be unable to complete a transaction. If we fail to complete a transaction, we may never generate any operating revenues.

 If
we elect to take advantage of the controlled company standards, we would be exempt from various corporate governance requirements.

 Certain
listing rules generally define a "Controlled Company" as any company of which more than 50% of the voting power for the election
of directors is held by an individual, a group or another company. Only holders of the founder shares will have the right to vote on
the election of directors. More than 50% of the founder shares are held by our sponsor. Accordingly, we satisfy the definition of being
a controlled company. We may in the future elect to take advantage of the controlled company standards, pursuant to which we would be
exempt from various corporate governance requirements, such as the requirement to have a majority of independent directors and to have
nominating/corporate governance and compensation committees comprised entirely of independent directors.

 Because
of our limited resources and the significant competition for business opportunities, it may be more difficult for us to complete a transaction
and our warrants may expire worthless.

 We
expect to encounter intense competition from other entities having a business objective similar to ours, including private investors
(which may be individuals or investment partnerships), blank check companies and other entities, domestic and international, competing
for the types of business opportunities we intend to pursue. Many of these individuals and entities are well-established and have
extensive experience in identifying and effecting, directly or indirectly, such business opportunities and/or operating in or providing
services to various industries. Many of these competitors possess greater technical, human and other resources or more industry knowledge
than we do and our financial resources will be relatively limited when contrasted with those of many of these competitors. While we believe
there are numerous business opportunities we could potentially pursue, our ability to compete for such business opportunities will be
limited by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition
of certain business opportunities.

 Holders
of Class A common stock will not be entitled to vote on any election of directors we hold.

 Only
holders of our founder shares will have the right to vote on the election of directors. Holders of our public shares will not be entitled
to vote on the election of directors. Accordingly, you may not have any say in the management of our company.

 Holders
of Class B common stock will be entitled to ten (10) votes for each such share.

 Holders
of Class B common stock will be entitled to ten (10) votes for each such share at any annual or special meeting of stockholders or in
the case of any written consent of stockholders in lieu of a meeting and for all purposes. Holders of our public shares will be entitled
to one vote for each such share held. Accordingly, holders of founder shares may exert an outsized influence on each matter properly
submitted to the stockholders on which holders of the common stock are entitled to vote.

 Because
we are neither limited to evaluating a business opportunity in a particular industry sector nor have we selected any specific business
opportunities with which to pursue a transaction, you are unable to currently ascertain the merits or risks of any particular business
opportunity.

 Although
we initially intend to focus our search for a business opportunity in the consumer industry, we are not limited to evaluating a business
opportunity in any particular industry sector. As a result, there is no current basis to evaluate the possible merits or risks of any
particular business opportunity. To the extent we complete a transaction, we may be affected by numerous risks inherent in the business
opportunity. For example, if we pursue a business opportunity with a financially unstable business or an entity lacking an established
record of sales or earnings, we may be affected by the risks inherent in the business and operations of a financially unstable or a development
stage entity. Although our officers and directors will endeavor to evaluate the risks inherent in a particular business opportunity,
we cannot assure you that we will properly ascertain or assess all of the significant risk factors or that we will have adequate time
to complete due diligence. Furthermore, some of these risks may be outside of our control and leave us with no ability to control or
reduce the chances that those risks will adversely impact a business opportunity. We also cannot assure you that an investment in our
securities will ultimately prove to be more favorable to you than a direct investment, if such opportunity were available, in a business
opportunity.

 Our
success largely depends on the ability of our management team to operate and execute effectively.

 Our
success largely depends on the ability of our management team to effectively organize and consummate a business opportunity. Our management
team is critical to the execution of our strategic direction and implementation of a business opportunity. It is difficult to predict
with any certainty that we will be able to replace these individuals with persons of equivalent experience and capabilities should one
or more members no longer be able to serve in their current capacity. If we are unable to find adequate replacements or to attract, retain
and incentivize senior executives, other key advisors or new qualified personnel, such inability could have a material adverse effect
on our ability to effect a business combination and final results of operations.

 Past
performance by our management team, our special advisors and their respective affiliates may not be indicative of future performance
of an investment in us.

 Information
regarding performance by, or businesses associated with, our management team, our special advisors and their respective affiliates is
presented for informational purposes only. Past performance by them is not a guarantee either (i) of success with respect to any business
opportunity we may consummate, or (ii) that we will be able to locate a suitable business opportunity. You should not rely on the historical
record of the performance of our management team, our special advisors and their respective affiliates or businesses associated with
them as indicative of the future performance of an investment in us or the returns we will, or are likely to, generate going forward.

 Any
future involvement of our sponsor and its affiliates, members of our management and companies with which they are affiliated in governmental
investigations or civil litigation unrelated to our business affairs could materially impact our ability to consummate a business opportunity.

 Our
sponsor and its affiliates, members of our management team and companies with which they are affiliated may become involved in governmental
investigations and civil litigation relating to their business affairs unrelated to our Company in the United States or in other jurisdictions.
Such matters, should they arise in the future, risk distracting them from attention to our affairs and may negatively impact our ability
to attract suitable business opportunities and may ultimately impede our ability to consummate a transaction.

 We
may seek business opportunities in any industry our management chooses (which industries may be outside of our management's areas
of expertise).

 We
may consider a business opportunity in any industry our management chooses. Although our management will endeavor to evaluate the risks
inherent in any particular business opportunity, we cannot assure you that we will adequately ascertain or assess all of the significant
risk factors. We also cannot assure you that an investment in our securities will not ultimately prove to be less favorable to investors
in this offering than a direct investment, if an opportunity were available, in a business opportunity. In the event we elect to pursue
a business opportunity outside of the areas of our management's expertise, our management's expertise may not be directly
applicable to its evaluation or operation, and the information contained in this prospectus regarding the areas of our management's
expertise would not be relevant to an understanding of the business that we elect to pursue. As a result, our management may not be able
to adequately ascertain or assess all of the significant risk factors.

 We
may seek business opportunities with a financially unstable business or an entity lacking an established record of revenue, cash flow
or earnings, which could subject us to volatile revenues, cash flows or earnings or difficulty in retaining key personnel.

 To
the extent we effect a transaction with a financially unstable business or an entity lacking an established record of revenues or earnings,
we may be affected by numerous risks inherent in the operations of that business opportunity. These risks include volatile revenues or
earnings and difficulties in obtaining and retaining key personnel. Although our officers and directors will endeavor to evaluate the
risks inherent in a particular business opportunity, we may not be able to properly ascertain or assess all of the significant risk factors
and we may not have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our control and leave
us with no ability to control or reduce the chances that those risks will adversely impact a business opportunity.

 We
are not required to obtain an opinion from an independent investment banking firm, or another valuation or appraisal firm that commonly
renders fairness opinions, and consequently, you may have no assurance from an independent source that the price we are paying in a transaction
is fair to our stockholders from a financial point of view.

 Unless
we complete a transaction with an affiliated entity, we are not required to obtain an opinion from an independent investment banking
firm, or another valuation or appraisal firm that commonly renders fairness opinions, that the price we are paying is fair to our stockholders
from a financial point of view. If no opinion is obtained, our stockholders will be relying on the judgment of our board of directors,
who will determine fair market value based on standards generally accepted by the financial community.

 Resources
could be wasted in researching business opportunities that are not completed, which could materially adversely affect subsequent attempts
to identify and effect a business opportunity. If we are unable to complete a transaction, our warrants may expire worthless.

 We
anticipate that the investigation of each specific business opportunity and the negotiation, drafting and execution of relevant agreements,
disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants,
attorneys and others. If we decide not to complete a specific business opportunity, the costs incurred up to that point for the proposed
transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific business opportunity, we may
fail to complete the transaction for any number of reasons, including those beyond our control. Any such event will result in a loss
to us of the related costs incurred which could materially adversely affect subsequent attempts to identify and effect another business
opportunity.

 We
may reincorporate in another jurisdiction and such reincorporation may result in taxes imposed on stockholders.

 We
may, subject to requisite stockholder approval under the DGCL, reincorporate in another jurisdiction. The transaction may require a stockholder
to recognize taxable income in the jurisdiction in which the stockholder is a tax resident or in which its members are resident if it
is a tax transparent entity. We do not intend to make any cash distributions to stockholders to pay such taxes. Stockholders may be subject
to withholding taxes or other taxes with respect to their ownership of us after the reincorporation.

 Our
ability to successfully effect a business opportunity and to be successful thereafter will be totally dependent upon the efforts of our
key personnel. The loss of key personnel could negatively impact the operations and profitability of a business opportunity.

 Prior
to the completion of a transaction, our operations will be dependent upon a relatively small group of individuals and, in particular,
our executive officers and directors. We believe that our success depends on the continued service of our officers and directors, at
least until we have completed a business opportunity. In addition, our executive officers and directors are not required to commit any
specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating their time among various business
activities, including identifying potential business opportunities and monitoring the related due diligence. We do not have an employment
agreement with, or key-man insurance on the life of, any of our directors or executive officers. The unexpected loss of the services
of one or more of our directors or executive officers could have a detrimental effect on us.

 The
role of key personnel in a business opportunity, however, cannot presently be ascertained. Although some key personnel may remain in
senior management or advisory positions following a transaction, it is equally likely that some or all may be replaced. While we intend
to closely scrutinize any individuals we engage in relation to a particular business opportunity, we cannot assure you that our assessment
of these individuals will prove to be correct. These individuals may be unfamiliar with the requirements of operating a company regulated
by the SEC, which could cause us to have to expend time and resources helping them become familiar with such requirements. In addition,
certain officers and directors may resign upon completion of a transaction. The departure of key personnel could negatively impact our
operations and profitability. The role of key personnel cannot be ascertained at this time. Although we contemplate that certain members
of the management team will remain post-transaction, it is possible that members of management will not wish to remain. The loss of key
personnel could negatively impact the operations and profitability of our post-transaction business.

 Our
key personnel may negotiate employment or consulting agreements in connection with a particular business opportunity, and a particular
business opportunity may be conditioned on the retention or resignation of such key personnel. These agreements may provide for them
to receive compensation following a transaction and, as a result, may cause them to have conflicts of interest in determining whether
a particular business opportunity is the most advantageous.

 Our
key personnel may be able to remain with our company post-transaction only if they are able to negotiate employment or consulting agreements.
Such negotiations would take place simultaneously with the negotiation of the transaction and could provide for such individuals to receive
compensation in the form of cash payments and/or our securities for services they would render to us with respect to such business opportunity.
Such negotiations also could make such key personnel's retention or resignation a condition to a transaction. The personal and
financial interests of such individuals may influence their motivation in identifying and selecting a business opportunity, subject to
their fiduciary duties under Delaware law.

 We
may have a limited ability to assess a prospective business opportunity and, as a result, may identify and effect a business opportunity
whose management may not have the skills, qualifications or abilities to manage a public company, which could, in turn, negatively impact
the value of our stockholder's investment in us.

 When
evaluating the desirability of effecting a business opportunity, our ability to assess management may be limited due to a lack of time,
resources or information. Our assessment of the capabilities of the management team, therefore, may prove to be incorrect and such management
may lack the skills, qualifications or abilities we suspected. Should management not possess the skills, qualifications or abilities
necessary to manage a public company, the operations and profitability of the post-transaction business may be negatively impacted.

 Our
executive officers and directors will allocate their time to other businesses, thereby causing conflicts of interest in their determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to effect a business
opportunity.

 Our
executive officers and directors are not required to, and will not, commit their full time to our affairs, which may result in a conflict
of interest in allocating their time between our operations and our search for a business opportunity and their other businesses. We
do not intend to have any full-time employees prior to the completion of a transaction. Each of our executive officers is engaged
in several other business endeavors for which they may be entitled to substantial compensation, and our executive officers are not obligated
to contribute any specific number of hours per week to our affairs. Our independent directors also serve as officers and board members
for other entities. If our executive officers' and directors' other business affairs require them to devote substantial amounts
of time to such affairs in excess of their current commitment levels, it could limit their ability to devote time to our affairs which
may have a negative impact on our ability to effect a business opportunity.

 Our
officers and directors presently have fiduciary or contractual obligations to other entities and, accordingly, may have conflicts of
interest in determining to which entity a particular business opportunity should be presented.

 We
intend to engage in the business of identifying and effecting one or more business opportunities. Each of our officers and directors
presently has, and any of them in the future may have, additional fiduciary or contractual obligations to other entities pursuant to
which such officer or director is or will be required to present business opportunities to such entity. Accordingly, our officers and
directors may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These
conflicts may not be resolved in our favor and a potential business opportunity may be presented to another entity prior to its presentation
to us, subject to their fiduciary duties under Delaware law.

 Our
officers and directors may in the future become affiliated with entities engaged in business activities similar to those intended to
be conducted by us, and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity
should be presented.

 We
intend to engage in the business of identifying and effecting one or more business opportunities. Each of our officers and directors
presently has, and any of them in the future may have, additional fiduciary or contractual obligations to other entities pursuant to
which such officer or director is or will be required to present business opportunities to such entities. Accordingly, they may have
conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be
resolved in our favor and a potential target business may be presented to other entities prior to its presentation to us, subject to
our officers' and directors' fiduciary duties under Delaware law.

 In
addition, our sponsor and our officers and directors may sponsor or form other companies similar to ours or may pursue other business
or investment ventures during the period in which we are seeking business opportunities. Any such companies, businesses or investments
may present additional conflicts of interest in pursuing business opportunities. However, we do not believe that any such potential conflicts
would materially affect our ability to effect a business opportunity.

 Our
executive officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict
with our interests.

 We
have not adopted a policy that expressly prohibits our directors, executive officers, security holders or affiliates from having a direct
or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are
a party or have an interest. In fact, we may effect a business opportunity with an entity that is affiliated with our sponsor, our directors
or executive officers, although we do not intend to do so. Nor do we have a policy that expressly prohibits any such persons from engaging
for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict
between their interests and ours.

 The personal and financial interests of our directors
and officers may influence their motivation in timely identifying and selecting a business opportunity and completing a transaction.
Consequently, our directors' and officers' discretion in identifying and selecting a suitable business opportunity may result
in a conflict of interest when determining whether the terms, conditions and timing of a particular business opportunity are appropriate
and in our stockholder's best interest. If this were the case, it would be a breach of their fiduciary duties to us as a matter
of Delaware law and we or our stockholders might have a claim against such individuals for infringing on our stockholder's rights.
However, we might not ultimately be successful in any claim we may make against them for such reason.

 We
may effect a business opportunity with one or more entities that have relationships with entities that may be affiliated with our sponsor,
executive officers, directors or existing holders, which may raise potential conflicts of interest.

 In
light of the involvement of our sponsor, executive officers and directors with other entities, we may decide to effect one or more business
opportunities that are affiliated with our sponsor, executive officers, directors or existing holders. Our directors also serve as officers
and board members for other entities. Such entities may compete with us for business opportunities. Our sponsor, officers and directors
are not currently aware of any specific business opportunities involving any entities with which they are affiliated, and there have
been no substantive discussions concerning a business opportunity with any such entity or entities. Although we will not be specifically
focusing on, or targeting, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such
affiliated entity met our criteria for a business opportunity, and such transaction was approved by a majority of our independent and
disinterested directors. Despite our agreement to obtain an opinion regarding the fairness to our company from a financial point of view
of a business combination with one or more businesses affiliated with our sponsor, executive officers, directors or existing holders,
potential conflicts of interest still may exist and, as a result, the terms of the business opportunity may not be as advantageous to
our public stockholders as they would be absent any conflicts of interest.

 We
may issue notes or other debt securities, or otherwise incur substantial debt, to effect a business opportunity, which may adversely
affect our leverage and financial condition and thus negatively impact the value of our stockholder's investment in us.

 Although
we have no current commitments to issue any notes or other debt securities, or to otherwise incur outstanding debt, we may choose to
incur substantial debt to effect a business opportunity. The incurrence of debt could have a variety of negative effects, including:

 default and foreclosure
 on our assets if our operating revenues are insufficient to repay our debt obligations;

 acceleration of our obligations
 to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require
 the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;

 our immediate payment of
 all principal and accrued interest, if any, if the debt security is payable on demand;

 our inability to obtain
 necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the
 debt security is outstanding;

 our inability to pay dividends
 on our Class A common stock;

 using a substantial portion
 of our cash flow to pay principal and interest on our debt, which will reduce the funds available for dividends on our Class A common
 stock if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;

 limitations on our flexibility
 in planning for and reacting to changes in our business and in the industry in which we operate;

 increased vulnerability
 to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and

 limitations on our ability to borrow additional amounts
 for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other
 disadvantages compared to our competitors who have less debt.

 We
may only be able to effect one business opportunity, which will cause us to be solely dependent on a single business which may have a
limited number of products or services. This lack of diversification may negatively impact our operations and profitability.

 We
may only be able to effect one business opportunity. By effecting a business opportunity with only a single entity, our lack of diversification
may subject us to numerous economic, competitive and regulatory developments. Further, we would not be able to diversify our operations
or benefit from the possible spreading of risks or offsetting of losses, unlike other entities which may have the resources to effect
several business opportunities in different industries or different areas of a single industry. Accordingly, the prospects for our success
may be:

 solely dependent upon the
 performance of a single business opportunity; or

 dependent upon the development
 or market acceptance of a single or limited number of products, processes or services.

 This
lack of diversification may subject us to numerous economic, competitive and regulatory risks, any or all of which may have a substantial
adverse impact upon the particular industry in which we may operate.

 We
may attempt to simultaneously effect multiple business opportunities, which may hinder our ability to complete a business opportunity
and give rise to increased costs and risks that could negatively impact our operations and profitability.

 If
we determine to simultaneously effect several business opportunities, we may need for each to agree that effecting one business opportunity
is contingent on the other business opportunities, which may make it more difficult for us, and delay our ability, to effect a business
opportunity. With multiple business opportunities, we could also face additional risks, including additional burdens and costs with respect
to possible multiple negotiations and due diligence and the additional risks associated with the subsequent assimilation of different
business opportunities. If we are unable to adequately address these risks, it could negatively impact our profitability and results
of operations.

 We
may attempt to effect a business opportunity with a private company about which little information is available, which may result in
a transaction that is not as profitable as we suspected, if at all.

 We
may seek to effect a business opportunity with a privately held company. By definition, very little public information generally exists
about private companies, and we could be required to make our decision on whether to pursue a potential business opportunity on the basis
of limited information, which may result in a transaction that is not as profitable as we suspected, if at all.

 We
may be unable to obtain additional financing to effect a business opportunity or to fund our operations and growth, which could compel
us to restructure or abandon a particular business opportunity. If we are unable to effect a business opportunity, our warrants may expire
worthless.

 As
we have not yet selected any prospective business opportunity, we cannot ascertain the capital requirements for any particular transaction;
however, it is likely that we will require additional financing to effect a business opportunity. We cannot assure you that such financing
will be available on acceptable terms, if at all. The current economic environment has made it especially difficult for companies to
obtain such financing. To the extent that additional financing proves to be unavailable when needed to effect a business opportunity,
we would be compelled to either restructure the transaction or abandon that particular business opportunity and seek an alternative business
opportunity. If we are unable to effect a business opportunity, our warrants may expire worthless. In addition, even if we do not need
additional financing to effect a business opportunity, we may require such financing to fund our operations or growth. The failure to
secure additional financing could have a material adverse effect on our continued development or growth. None of our officers, directors
or stockholders is required to provide any financing.

 Our
sponsor controls a substantial interest in us and thus may exert a substantial influence on actions requiring a stockholder vote, potentially
in a manner that you do not support.

 Given
that it controls a substantial interest in us, our Sponsor may exert a substantial influence on actions requiring a stockholder vote,
potentially in a manner that you do not support, including amendments to our certificate of incorporation.

 We
may amend the terms of the warrants in a manner that may be adverse to holders of public warrants with the approval by the holders of
at least 50% of the then outstanding public warrants. As a result, the exercise price of your warrants could be increased, the exercise
period could be shortened and the number of shares of our Class A common stock purchasable upon exercise of a warrant could be decreased,
all without your approval.

 Our
warrants were issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant
agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure
any ambiguity or correct any defective provision, but requires the approval by the holders of at least 50% of the then outstanding public
warrants to make any change that adversely affects the interests of the registered holders of public warrants. Accordingly, we may amend
the terms of the public warrants in a manner adverse to a holder if holders of at least 50% of the then outstanding public warrants approve
of such amendment (which would include any public warrants purchased by our sponsor or any of our officers or directors).

 Although
our ability to amend the terms of the public warrants with the consent of at least 50% of the then outstanding public warrants is unlimited,
examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, convert the warrants
into cash, shorten the exercise period or decrease the number of shares of Class A common stock purchasable upon exercise of a warrant.

 We
are an emerging growth company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure
requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more
difficult to compare our performance with other public companies.

 We
are an "emerging growth company" within the meaning of the Securities Act, as modified by the JOBS Act, and we 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 auditor attestation requirements of Section 404 of the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements,
and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any
golden parachute payments not previously approved. As a result, our stockholders may not have access to certain information they may
deem important. We could be an emerging growth company for up to five years, although circumstances could cause us to lose that status
earlier, including if the market value of our shares of Class A common stock held by non-affiliates exceeds $700 million as
of any June 30 before that time, in which case we would no longer be an emerging growth company as of the following December 31. We cannot
predict whether investors will find our securities less attractive because we will rely on these exemptions. If some investors find our
securities less attractive as a result of our reliance on these exemptions, the trading prices of our securities may be lower than they
otherwise would be, there may be a less active trading market for our securities and the trading prices of our securities may be more
volatile.

 Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies, but any such an election to opt out is irrevocable. We have elected not to opt out
of such extended transition period which means that when a standard is issued or revised and it has different application dates for public
or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the
new or revised standard. This may make comparison of our financial statements with another public company which is neither an emerging
growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because
of the potential differences in accounting standards used.

 Additionally,
we are a "smaller reporting company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies may take
advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements.
We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of our common stock held
by non-affiliates exceeds $250 million as of the prior June 30 th, or (2) our annual revenues exceeded $100 million
during such completed fiscal year and the market value of our common stock held by non-affiliates exceeds $700 million as of
the prior June 30 th. To the extent we take advantage of such reduced disclosure obligations, it may also make comparison of
our financial statements with other public companies difficult or impossible.

 Compliance
obligations under the Sarbanes-Oxley Act may make it more difficult for us to effect a business opportunity, require substantial financial
and management resources, and increase the time and costs of completing a transaction.

 Section
404 of the Sarbanes-Oxley Act requires that we evaluate and report on our system of internal controls beginning with our Annual
Report on Form 10-K. Only in the event we are deemed to be a large accelerated filer or an accelerated filer and no longer an emerging
growth company will we be required to comply with the independent registered public accounting firm attestation requirement on our internal
control over financial reporting. Further, for as long as we remain an emerging growth company, we will not be required to comply with
the independent registered public accounting firm attestation requirement on our internal control over financial reporting. The development
and maintenance of internal control to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary
to effect a business opportunity.

 Provisions
in our certificate of incorporation and bylaws and Delaware law may inhibit a takeover of us, which could limit the price investors might
be willing to pay in the future for our common stock and could entrench management.

 Our
certificate of incorporation and bylaws contain provisions that may discourage unsolicited takeover proposals that stockholders may consider
to be in their best interests. Holders of our founder shares will be entitled to ten (10) votes for each founder share held at any annual
or special meeting of stockholders or in the case of any written consent of stockholders in lieu of a meeting and for all purposes. Holders
of our public shares will be entitled to one vote for each such share. Additionally, only holders of our founder shares will have the
right to vote on the election of directors. Holders of our public shares will not be entitled to vote on the election of directors. This
may entrench management and discourage unsolicited stockholder proposals that may be in the best interest of stockholders. Moreover,
our board of directors has the ability to designate the terms of and issue new series of preferred stock.

 We
are also subject to anti-takeover provisions under Delaware law, which could delay or prevent a change of control. Together these
provisions may make more difficult the removal of management and may discourage transactions that otherwise could involve payment of
a premium over prevailing market prices for our securities.

 Our
certificate of incorporation provides, subject to limited exceptions, that the Court of Chancery of the State of Delaware will be the
sole and exclusive forum for certain stockholder litigation matters, which could limit our stockholder's ability to obtain a favorable
judicial forum for disputes with us or our directors, officers, employees or stockholders.

 Our
certificate of incorporation requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions against
directors, officers and employees for breach of fiduciary duty and other similar actions may be brought only in the Court of Chancery
in the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will be deemed to have consented to service
of process on such stockholder's counsel except any action (A) as to which the Court of Chancery in the State of Delaware determines
that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent
to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is vested in the exclusive
jurisdiction of a court or forum other than the Court of Chancery, (C) for which the Court of Chancery does not have subject matter jurisdiction,
or (D) any action arising under the Securities Act, as to which the Court of Chancery and the federal district court for the District
of Delaware shall have concurrent jurisdiction. Any person or entity purchasing or otherwise acquiring any interest in shares of our
capital stock shall be deemed to have notice of and consented to the forum provisions in our certificate of incorporation.

 This
choice of forum provision may limit a stockholder's ability to bring a claim in a judicial forum that it finds favorable for disputes
with us or any of our directors, officers or employees, which may discourage lawsuits with respect to such claims, although our stockholders
will not be deemed to have waived our compliance with federal securities laws and the rules and regulations thereunder and may therefore
bring a claim in another appropriate forum. We cannot be certain that a court will decide that this provision is either applicable or
enforceable, and if a court were to find the choice of forum provision contained in our certificate of incorporation to be inapplicable
or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could
harm our business, operating results and financial condition.

 Our
certificate of incorporation provides that the exclusive forum provision will be applicable to the fullest extent permitted by applicable
law. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created
by the Exchange Act or the rules and regulations thereunder. As a result, the exclusive forum provision will not apply to suits brought
to enforce any duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction.

 Cyber
incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss.

 We
will likely depend on digital technologies, including information systems, infrastructure and cloud applications and services, including
those of third parties with which we may deal. Sophisticated and deliberate attacks on, or security breaches in, our systems or infrastructure,
or the systems or infrastructure of third parties or the cloud, could lead to corruption or misappropriation of our assets, proprietary
information and sensitive or confidential data. As an early stage company without significant investments in data security protection,
we may not be sufficiently protected against such occurrences. We may not have sufficient resources to adequately protect against, or
to investigate and remediate any vulnerability to, cyber incidents. It is possible that any of these occurrences, or a combination of
them, could have adverse consequences on our business and lead to financial loss or inability to effect a business opportunity.

 There
may be tax consequences that may adversely affect us.

 While
we expect to undertake any business opportunity so as to minimize taxes, a particular transaction could result in the imposition of substantial
taxes. Additionally, depending on the date and size of our initial business combination, it is possible that at least 60% of our adjusted
ordinary gross income may consist of personal holding company income. In addition, depending on the concentration of our stock in the
hands of individuals, including the members of our sponsor and certain tax-exempt organizations, pension funds, and charitable trusts,
it is possible that more than 50% of our stock will be owned or deemed owned (pursuant to the constructive ownership rules) by such persons
during the last half of a taxable year. Thus, no assurance can be given that we will not become a personal holding company following
this offering or in the future. If we are or were to become a personal holding company in a given taxable year, we would be subject to
an additional personal holding company tax, currently 20%, on our undistributed taxable income, subject to certain adjustments.

 There
may be uncertain or adverse U.S. federal income tax consequences.

 There
may be uncertain U.S. federal income tax consequences pertaining to certain transactions. For instance, the U.S. federal income tax consequences
of a cashless exercise of warrants is unclear under current law. It is also unclear what impact the conversion rights with respect to
our shares of Class A common stock would have on a U.S. holder's holding period for purposes of determining whether any gain or
loss realized by such holder on the sale or exchange of Class A common stock is long-term capital gain or loss and with respect
to any dividends we may pay. Prospective investors are urged to consult their tax advisors with respect to these and other tax consequences
when purchasing, holding or disposing of our securities.

 If
we pursue a business opportunity outside of the United States, we may face additional burdens in connection with investigating, agreeing
to and effecting such business opportunity, and if we effect such business opportunity, we would be subject to a variety of additional
risks that may negatively impact our operations.

 If
we pursue a business opportunity outside of the United States, we would be subject to risks associated with a variety of cross-border issues,
including in connection with investigating, agreeing to and effecting a business opportunity, conducting due diligence in a foreign jurisdiction,
having such transaction approved by any local governments, regulators or agencies and changes in the purchase price based on fluctuations
in foreign exchange rates.

 If
we effect a business opportunity outside of the United States, we would be subject to any special considerations or risks associated
with operating in an international setting, including any of the following:

 costs and difficulties
 inherent in managing cross-border business operations;

 rules and regulations regarding
 currency redemption;

 complex corporate withholding
 taxes on individuals;

 laws governing the manner
 in which future operations may be affected;

 exchange listing and/or
 delisting requirements;

 tariffs and trade barriers;

 regulations related to
 customs and import/export matters;

 local or regional economic
 policies and market conditions;

 unexpected changes in regulatory requirements;

 longer payment cycles;

 tax issues, such as tax law changes and variations
 in tax laws as compared to the United States;

 currency fluctuations and exchange controls;

 rates of inflation;

 challenges in collecting accounts receivable;

 cultural and language differences;

 employment regulations;

 underdeveloped or unpredictable legal or regulatory
 systems;

 corruption;

 protection of intellectual property;

 social unrest, crime, strikes, riots and civil disturbances;

 regime changes and political upheaval;

 terrorist attacks and wars; and

 deterioration of political relations with the United
 States.

 We
may not be able to adequately address these additional risks. If we were unable to do so, we may be unable to effect such business opportunity,
or, if we do effect such business opportunity, our operations might suffer, either of which may adversely impact our business, financial
condition and results of operations.

 If
a change in management occurs, and new management is unfamiliar with United States securities laws, they may have to expend time and
resources becoming familiar with such laws, which could lead to various regulatory issues.

 Our
management may resign from their positions as officers or directors of the company and new management may take their place. New management
may not be familiar with United States securities laws. If new management is unfamiliar with United States securities laws, they may
have to expend time and resources becoming familiar with such laws. This could be expensive and time-consuming and could lead to
various regulatory issues which may adversely affect our operations.

 If
we effect a business opportunity outside of the United States, substantially all of our assets could be located in a foreign country
and substantially all of our revenue could be derived from our operations in such country. Accordingly, our results of operations and
prospects could be subject, to a significant extent, to the economic, political and legal policies, developments and conditions in the
country in which we operate.

 The
economic, political and social conditions, as well as government policies, of the country in which our operations are ultimately located
could affect our business. Economic growth could be uneven, both geographically and among various sectors of the economy and such growth
may not be sustained in the future. If in the future such country's economy experiences a downturn or grows at a slower rate than
expected, there may be less demand for spending in certain industries. A decrease in demand for spending in certain industries could
materially and adversely affect our ability to find and/or effect an attractive business opportunity.

 Exchange
rate fluctuations and currency policies may cause our ability to succeed in the international markets to be diminished.

 In
the event we effect a business opportunity outside of the United States, all revenues and income would likely be received in a foreign
currency, and the dollar equivalent of our net assets and distributions, if any, could be adversely affected by reductions in the value
of the local currency. The value of currencies fluctuates and are affected by, among other things, changes in political and economic
conditions. Any change in the relative value of such currency against our reporting currency may affect the attractiveness of any business
opportunity and/or our financial condition and results of operations. Additionally, if a currency appreciates in value against the dollar
prior to the consummation of a transaction, the cost of a transaction as measured in dollars will increase, which may make it less likely
that we are able to consummate such transaction.

 We
may face risks related to consumer and consumer-related products and services industries.

 Business
opportunities within the consumer and consumer-related products and services industries entail special considerations and risks.
If we are successful in effecting a business opportunity with such industries, we may be subject to, and possibly adversely affected
by, the following risks:

 an inability to compete
 effectively in a highly competitive environment with many incumbents having substantially greater resources;

 an inability to manage
 rapid change, increasing consumer expectations and growth;

 an inability to build strong
 brand identity and improve customer satisfaction and loyalty;

 limitations on our ability
 to protect our intellectual property rights, including trade secrets, that could cause a loss in revenue and any competitive advantage;

 the high cost or unavailability
 of materials, equipment, supplies and personnel that could adversely affect our ability to execute our operations on a timely basis;

 an inability to attract
 and retain customers;

 an inability to license
 or enforce intellectual property rights on which our business may depend;

 seasonality and weather
 conditions that may cause our operating results to vary from quarter to quarter;

 an inability by us to successfully
 anticipate changing consumer preferences and buying trends and manage our product line and inventory commensurate with customer demand;

 potential liability for
 negligence, copyright, or trademark infringement or other claims based on the nature and content of materials that we may distribute;

 dependence of our operations
 upon third-party suppliers whose failure to perform adequately could disrupt our business;

 our operating results may
 be adversely affected by changes in the cost or availability of raw materials and energy;

 we may be subject to production-related
 risks which could jeopardize our ability to realize anticipated sales and profits;

 regulatory changes that
 impact our ability to import products or material inputs on a cost effective basis;

 changes in the retail industry
 and markets for consumer products affecting our customers or retailing practices could negatively impact customer relationships and
 our results of operations; and

 our business could involve the potential for product
 recalls, product liability and other claims against us, which could affect our earnings and financial condition.

 Any
of the foregoing could have an adverse impact on our operations. However, our efforts in identifying prospective businesses opportunities
will not be limited to consumer and consumer-related products and services industries. Accordingly, if we effect a business opportunity
in another industry, these risks will likely not affect us and we will be subject to other risks attendant with the specific industry
in which we operate, none of which can be presently ascertained.

 Failure
to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 could
have a material adverse effect on our business.

 As
a public company, we are required to maintain effective internal control over financial reporting in accordance with Section 404
of the Sarbanes-Oxley Act of 2002. Internal control over financial reporting is complex and may be revised over time to adapt to changes
in our business, or changes in applicable accounting rules. We cannot assure you that our internal control over financial reporting will
be effective in the future or that a material weakness will not be discovered with respect to a prior period for which we had previously
believed that our internal control over financial reporting was effective. Matters impacting our internal control over financial reporting
may cause us to be unable to report our financial information on a timely basis, or may cause us to restate previously issued financial
information, and thereby subject us to adverse regulatory consequences, including sanctions or investigations by the SEC, or violations
of applicable stock exchange listing rules. There could also be a negative reaction in the financial markets due to a loss of investor
confidence in us and the reliability of our financial statements. Confidence in the reliability of our financial statements is also likely
to suffer if we report a material weakness in the effectiveness of our internal control over financial reporting. This could materially
adversely affect us by, for example, leading to a decline in the price of our shares/warrants and impairing our ability to attract a
business opportunity and/or consummate a transaction.

 Our
warrants are accounted for as liabilities and changes in the value of our warrants could have a material effect on our financial results.

 On
April 12, 2021, the SEC Staff expressed its view that certain terms and conditions common to SPAC warrants may require the warrants to
be classified as liabilities instead of equity on the SPAC's balance sheet. As a result of the SEC Staff Statement, we re-evaluated
the accounting treatment of our warrants, and determined to classify the warrants as derivative liabilities measured at fair value, with
changes in fair value reported in our statement of operations for each reporting period.

 As a result, included on our balance sheets as of December 31, 2023
and 2022, and contained elsewhere in this report are derivative liabilities related to embedded features contained within
our warrants. ASC 815-40 provides for the re-measurement of the fair value of such derivatives at each balance sheet date, with a resulting
non-cash gain or loss related to the change in the fair value being recognized in earnings in the statement of operations. As a result
of the recurring fair value measurement, our financial statements and results of operations may fluctuate quarterly based on factors which
are outside of our control. Due to the recurring fair value measurement, we expect that we will recognize non-cash gains or losses on
our warrants each reporting period and that the amount of such gains or losses could be material.

 Changes
in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our ability
to identify a potential business opportunity and/ or negotiate and complete a transaction, and results of operations.

 We
are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to comply
with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may be difficult,
time consuming and costly. Those laws and regulations and their interpretation and application may also change from time to time and
those changes could have a material adverse effect on our business, investments and results of operations. In addition, a failure to
comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect on our business, including
our ability to identify a potential business opportunity and/or negotiate and complete a transaction, and results of operations.

 On
March 30, 2022, the SEC issued proposed rules ("2022 Proposed Rules") relating to, among other items, enhancing disclosures
in business combination transactions involving SPACs and private operating companies; amending the financial statement requirements applicable
to transactions involving shell companies; effectively limiting the use of projections in SEC filings in connection with proposed business
combination transactions; increasing the potential liability of certain participants in proposed business combination transactions; and
the extent to which SPACs could become subject to regulation under the Investment Company Act of 1940. These rules, if adopted, whether
in the form proposed or in revised form, may materially adversely affect our ability to engage financial and capital market advisors,
identify a potential business opportunity and/or negotiate and complete a transaction and may increase the costs and time related thereto.

 If we are deemed
to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our
activities may be restricted, which may make it difficult for us to complete a transaction or conduct other business activities.

 If we are deemed to be
an investment company under the Investment Company Act, our activities may be restricted, including:

 restrictions on the nature of our investments; and

 restrictions on the issuance of securities, each of which may make it difficult for us to identify a potential business opportunity and/or negotiate and complete a transaction.

 In addition, we may have
imposed upon us burdensome requirements, including:

 registration as an investment company;

 adoption of a specific form of corporate structure; and

 independence, reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations.

 In
order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we must
ensure that we are engaged primarily in a business other than investing, reinvesting or trading in securities for purposes of Section
(3)(a)(1)(A) thereof and that our activities do not include investing, reinvesting, owning, holding or trading "investment securities"
constituting more than 40% of our total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis for
purposes of Section (3)(a)(1)(C) thereof. Our business is to identify a potential business opportunity and complete a transaction.

 We
do not believe that our principal ongoing activities centered on identifying a potential business opportunity and completing a transaction,
will subject us to the Investment Company Act under the definition of "investment company" contained in Section (3)(a)(1)(A)
thereof. By having a business plan targeted at identifying a potential business opportunity and completing a transaction, we intend to
avoid being deemed an "investment company" within the meaning of the Investment Company Act.

 However,
we are aware of litigation against certain entities asserting that, notwithstanding the foregoing, those entities should be considered
investment companies and the SEC has suggested in the 2022 Proposed Rules release that the extended period of investment of assets by
similar such entities raise questions about their status as investment companies under Section 3(a)(1)(A) of the Investment Company Act.

 A
new 1% U.S. federal excise tax could be imposed on the Company in connection with redemptions.

 On August 16, 2022, the Inflation Reduction Act
of 2022 (the "IRA") was signed into federal law. The IRA provides for, among other things, a new U.S. federal 1% excise tax
on certain repurchases (including redemptions as defined in the Internal Revenue Code) of stock by publicly traded U.S. corporations and
certain U.S. subsidiaries of publicly traded non-U.S. corporations (each, a "covered corporation"). Because our securities
are publicly trading in the over-the-counter market, we may be deemed a "covered corporation" for this purpose. The excise
tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. 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 permitted to net the 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 the excise tax. The U.S. Department
of Treasury has been given authority to provide regulations and other guidance to carry out, and prevent the abuse or avoidance of the
excise tax. The IRA applies only to repurchases that occur after December 31, 2022.

 Therefore,
any redemption or other repurchase that occurs after December 31, 2022 may be subject to the excise tax. Whether and to what extent we
would be subject to the excise tax would depend on a number of factors, including (i) the fair market value of the redemptions and, (ii)
the nature and amount of the equity, and (iii) the content of regulations and other guidance from the U.S. Department of the Treasury.
In addition, because the excise tax would be payable by the Company, and not by the redeeming holder, the mechanics of any required payment
of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to identify a potential
business opportunity and/or complete a transaction.

 We filed a Form 25 with the SEC which became
effective October 21, 2022, to voluntarily delist our common stock and public warrants from the NYSE and our securities are now available
for limited quotation in the over-the-counter market and it is expected that any trading will be limited and sporadic.

 Our delisting from the NYSE took effect on October
21, 2022; initially our shares of common stock and public warrants were trading on the NYSE and thereafter became eligible for quotation
on the Pink tier of OTC Markets Group, if market makers commit to making a market in the securities. We can provide no assurance that
trading in our securities will continue on the OTC Markets Group or otherwise. As a result of the delisting, we could face significant
material adverse consequences, including:

 a limited availability of market quotations for our securities;

 reduced liquidity with respect to our securities;

 a determination that our shares of common stock are "penny stock", which will require brokers trading in our shares of common stock to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our shares of common stock;

 a limited amount of news and analyst coverage for our company; and

 a decreased ability to issue additional securities or obtain additional financing in the future.

 Currently our securities are not eligible for
proprietary broker-dealer quotations. All quotes will reflect unsolicited customer orders and, as a result, we expect any trading to involve
a higher risk of wider spreads, increased volatility, and price dislocations and a general illiquid trading environment. Proprietary broker-dealer
quotations may not commence until an initial review by a broker-dealer under the SEC's Rule 15c2-11 which would enable brokers to
publish competing quotes and provide continuous market making. No assurance can be provided that a liquid trading market will develop
even if market makers begin proprietary quotations and thus, we expect investors will experience difficulty in trading our securities.

 The National Securities Markets Improvement Act
of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred
to as "covered securities." Because they have been delisted, our securities would not be covered securities and we would
be subject to regulation in each state in which we offer our securities. This state level regulation introduces additional compliance
requirements for brokers to consider making markets in our securities and will further negatively impact any trading liquidity in our
securities.

 ITEM 1B. UNRESOLVED STAFF COMMENTS

 Not applicable.

 ITEM 1C. CYBERSECURITY

 The Company utilizes office space and IT infrastructure
that are managed by staff who are employees of an affiliated member of our Sponsor. This affiliated member of our Sponsor has developed
and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity and availability of critical
systems and information.

 Accordingly, the Company relies on the cybersecurity
risk management program of the affiliated member of our Sponsor and has determined that the program is aligned with the Company's
business strategy. It shares common methodologies, reporting channels and governance processes that apply to other areas of enterprise
risk, including legal, compliance, strategic, operational, and financial risk. Key elements of the cybersecurity risk management program
include:

 risk assessments designed to help identify material
cybersecurity risks to our critical systems, information, products, services, and our broader enterprise information technology environment;

 a security team principally responsible for managing
our cybersecurity risk assessment processes, our security controls, and our response to cybersecurity incidents;

 the use of external service providers, where
appropriate, to assess, test or otherwise assist with aspects of our security controls;

 training and risk awareness programs for team
members that include periodic and ongoing assessments to drive adoption and awareness of cybersecurity processes and controls;

 a cybersecurity incident response plan that includes
procedures for responding to cybersecurity incidents; and

 a third-party risk management process for service
providers, suppliers, and vendors.

 In the last three years, the Company has not experienced
any material cybersecurity incidents, and expenses incurred from cybersecurity incidents were immaterial.

 The operations of the Company are dependent on
technology information and communications systems. A failure of any such system, or a security breach or cyberattack related thereto,
could significantly disrupt the Company's operations. The service providers of the Company are also subject to cybersecurity threats.
If the Company and/or any service provider of the Company fails to adopt, implement or adhere to adequate cybersecurity measures, or in
the event of a breach of any network, information relating to the Company or the Company's operations, as well as personal information
relating to the Company's potential partners, may be lost, damaged or corrupted, or improperly accessed, used or disclosed.

 Any system failure, security breach or cyberattack
on the Company and/or any service provider of the Company could cause the Company to suffer financial loss, disruption to its business,
increased operating costs, liability to third parties, regulatory intervention and reputational damage, among other things, any one or
all of which could have a material adverse effect on the Company.

 Cybersecurity Governance

 Our Board of Directors is responsible for overseeing
cybersecurity threats, among other things. The Chief Technology Officer of the affiliated member of our Sponsor is available to provide
our senior management and our Board of Directors reports on our cybersecurity risks and any material cybersecurity incidents.

 The cybersecurity risk management team of the
affiliated member of our Sponsor, in conjunction with its various information technology, internal audit, legal and compliance personnel,
has primary responsibility for the overall cybersecurity risk management program.

 The Chief Technology Officer of the affiliated
member of our Sponsor, who has over 20 years of experience in the cybersecurity space and advanced training in the field of cybersecurity
and technology, manages a team of cybersecurity professionals that has primary responsibility for any internal cybersecurity personnel
and retained external cybersecurity consultants.

 The information technology team also monitors
the prevention, detection, mitigation, and remediation of cybersecurity risks and incidents through various means, which may include briefings
with internal personnel, threat intelligence and other information obtained from governmental, public or private sources, including external
consultants, and alerts and reports produced by security tools deployed in the information technology environment

 ITEM 2. PROPERTIES

 We currently maintain our principal executive
offices at 249 Royal Palm Way, Suite 503, Palm Beach, FL 33480. The cost for this space is included in the $10,000 per-month fee PMV
Consumer Delaware Management Partners LLC, an affiliate of our Sponsor, charges us for general and administrative services. We consider
our current office space, combined with the other office space otherwise available to our executive officers, adequate for our current
operations.

 ITEM 3. LEGAL PROCEEDINGS

 None.

 ITEM 4. MINE SAFETY DISCLOSURES

 Not applicable.

 ITEM 5. MARKET FOR REGISTRANT'S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

 Market Information

 Our Class A common stock and warrants eligible
for quotation on the Pink Tier of the OTC Markets Group under the symbols PMVC and PMVC WS, respectively.

 Holders

 As of March 28, 2024, there was
1 holder of record of our Class A common stock, 1 holder of record of our Class B common stock, and 1 holder of record of our warrants.
This figure does not reflect the beneficial ownership of shares held in nominee name.

 Dividends

 We have not paid any cash dividends on our shares
of common stock to date and do not intend to pay cash dividends prior to the completion of a transaction. The payment of cash dividends
in the future will be contingent upon our revenues and earnings, if any, capital requirements, and general financial condition subsequent
to the completion of a transaction. The payment of any dividends subsequent to a transaction will be within the discretion of our then
board of directors. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations
and, accordingly, our board does not anticipate declaring any dividends in the foreseeable future. Further, if we incur any indebtedness
in connection with a transaction, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.

 Recent Sales of Unregistered Securities; Use
of Proceeds from Registered Securities

 There were no recent sales of unregistered securities.

 ITEM 6. RESERVED.

 ITEM 7. MANAGEMENT'S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 Special Note Regarding Forward-Looking Statements

 All statements other than statements of historical
fact included in this Form 10-K including, without limitation, statements under "Management's Discussion and Analysis of
Financial Condition and Results of Operations" regarding the Company's financial position, business strategy and the plans
and objectives of management for future operations, are forward-looking statements. When used in this Form 10-K, words such as "anticipate,"
"believe," "estimate," "expect," "intend" and similar expressions, as they relate to
us or the Company's management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of
management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could
differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in our filings with
the SEC.

 The following discussion and analysis of the
Company's financial condition and results of operations should be read in conjunction with our audited financial statements and
the notes related thereto which are included in "Item 8. Financial Statements and Supplementary Data" of this Annual Report
on Form 10-K. Certain information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual
results may differ materially from those anticipated in these forward-looking statements as a result of many factors, including those
set forth under "Cautionary Note Regarding Forward-Looking Statements and Risk Factor Summary," "Item 1A. Risk Factors"
and elsewhere in this Annual Report on Form 10-K.

 Overview

 We are a shell company formed under the laws
of the State of Delaware on March 18, 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or other similar business opportunity with one or more businesses or entities. Our efforts to identify a prospective business
opportunity will not be limited to a particular industry or geographic location, although we are currently focusing our search for a
business opportunity in the consumer industry. We intend to effectuate a business opportunity using cash, our capital stock, debt or
a combination of cash, stock and debt.

 The
issuance of additional shares of our stock in a transaction:

 may
 significantly reduce the equity interest of our stockholders;

 may
 subordinate the rights of holders of shares of common stock if we issue shares of preferred
 stock with rights senior to those afforded to our shares of common stock;

 will
 likely cause a change in control if a substantial number of our shares of common stock are
 issued, which may affect, among other things, our ability to use our net operating loss carry
 forwards, if any, and most likely will also result in the resignation or removal of our present
 officers and directors; and

 may
 adversely affect prevailing market prices for our securities.

 Similarly,
if we issue debt securities or otherwise incur significant indebtedness, it could result in:

 default
 and foreclosure on our assets if our operating revenues after a transaction are insufficient
 to pay our debt obligations;

 acceleration
 of our obligations to repay the indebtedness even if we have made all principal and interest
 payments when due if the debt security contains covenants that required the maintenance of
 certain financial ratios or reserves and we breach any such covenant without a waiver or
 renegotiation of that covenant;

 our
 immediate payment of all principal and accrued interest, if any, if the debt security is
 payable on demand; and

 our
 inability to obtain additional financing, if necessary, if the debt security contains covenants
 restricting our ability to obtain additional financing while such security is outstanding.

 Results
of Operations

 We have neither engaged in any operations nor generated any revenues
to date. Our only activities through December 31, 2023, were organizational activities, those necessary to prepare for the IPO, described
below, and searching for a business opportunity for which to complete transaction. We do not expect to generate any operating revenues
until after the completion of a transaction. We generate non-operating income in the form of interest income on marketable securities
held. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as
well as for due diligence expenses.

 For the year ended December 31, 2023, we had
a net loss of $108,141, which consists of the change in the fair value of derivative warrant liabilities of $146,020, interest income
of $51,915, offset by general and administrative expenses of $256,691, franchise tax expense of $13,200 and provision for income taxes
of $36,185.

 For the year ended December 31, 2022, we had
a net income of $8,622,353, which consists of the change in the fair value of derivative warrant liabilities of $9,388,845, forgiveness
of debt of $309,312, loss on Class B shares transferred into Trust of $990,000 and interest income on marketable securities held in the
trust account of $1,161,232, offset by general and administrative expenses of $1,031,318, franchise tax expense of $30,526 and provision
for income taxes of $185,192.

 Liquidity and Capital Resources

 On September 24, 2020, we consummated the IPO
of 17,500,000 Units at a price of $10.00 per Unit, generating gross proceeds of $175,000,000. Following the IPO, a total of $175,000,000
was placed in the Trust Account. As of December 31, 2022, the Trust Account was fully redeemed. Prior to the full redemption of the Trust
Account, interest income on the balance in the Trust Account had been used by us to pay taxes. Through December 31, 2022, $723,496 of
interest earned was withdrawn to pay taxes for the Company and $175,546,898 of the Trust Account was redeemed in connection with the
redemptions of the Class A convertible IPO shares.

 To the extent that our capital stock or debt
is used, in whole or in part, as consideration to complete a transaction, the remaining cash will be used as working capital to finance
operations, make other acquisitions and pursue our growth strategies.

 As of December 31, 2023, we had cash and cash
equivalents of $1,072,630. We intend to use these funds primarily to identify and evaluate potential business opportunities, perform
business due diligence on prospective business opportunities, travel to and from the offices, plants or similar locations associated
with prospective business opportunities, review corporate documents and material agreements related to business opportunities, and structure,
negotiate and complete a transaction.

 For the year ended December 31, 2023, cash used
in operating activities was $76,527. Net loss of $108,141 was affected by a change in fair value of derivative warrant liabilities of
$146,020, and a net increase of changes in operating assets and liabilities of $177,634.

 For the year ended December 31, 2022, cash used
in operating activities was $1,129,259. Net income of $8,622,353 was affected by interest earned on marketable securities held in the
Trust Account of $1,161,232, a change in fair value of derivative warrant liabilities of $9,388,845, loss on Class B shares transferred
into Trust of $990,000, forgiveness of debt of $309,312 and net increase of changes in operating assets and liabilities of $117,777.

 In order to fund working capital deficiencies
or finance transaction costs in connection with a business opportunity, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a transaction, we would repay such loaned
amounts. In the event that a transaction does not close, we may use a portion of the working capital to repay such loaned amounts. Up
to $1,500,000 of such loans may be convertible into warrants identical to the Private Warrants, at a price of $1.00 per warrant at the
option of the lender.

 We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a business
opportunity, undertaking in-depth due diligence and negotiating a transaction are less than the actual amount necessary to do so, we
may have insufficient funds available to operate our business prior to a transaction. Moreover, we may need to obtain additional financing
to complete a transaction, in which case we may issue additional equity securities or incur debt in connection with such transaction.
In addition, following a transaction, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our
obligations.

 Off-Balance Sheet Financing Arrangements

 We did not have any off-balance sheet arrangements
as of December 31, 2023.

 Contractual Obligations

 We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an affiliate of the Sponsor a monthly
fee of $10,000 for office space, utilities and secretarial and administrative support. We began incurring these fees on September 24,
2020 and will continue to incur these fees monthly for the foreseeable future.

 On August 22, 2022, UBS agreed to waive its entitlement
to the deferred underwriting commission of $4,593,750 to which it became entitled upon completion of the Company's Initial Public
Offering, subject to the consummation of a transaction. Thereafter, on December 27, 2022, in accordance with the provisions of its charter,
the Company announced the completion of the redemption of its outstanding shares of Class A common stock subject to redemption (the "Class
A IPO Shares"), which resulted in the forfeiture of the remaining $1,531,250 of deferred underwriting fees. Following the completion
of the redemption of the Class A IPO Shares, the IPO Trust Account was terminated in complete liquidation of the assets held in trust,
and the relevant provisions of the Company's charter, including with respect to any business combination and the IPO Trust Account,
were extinguished and are of no further legal force and effect. As a result, the Company derecognized the entire deferred underwriting
fee payable of $6,125,000 and recorded $5,815,688 of the forgiveness of the deferred underwriting fee allocated to Public Shares to accumulated
earnings (deficit) and the remaining balance of $309,312 was as a gain from extinguishment of liability allocated to warrant liabilities.
As of December 31, 2023 and 2022, the deferred underwriting fee payable is $0.

 Critical Accounting Policies and Estimates

 The preparation of the financial statements and
related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities
at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from
those estimates.

 We have identified the following critical accounting
policies and estimates:

 Warrant Liability

 We account for the warrants issued in connection
with our IPO in accordance with the guidance contained in ASC 815 under which the warrants do not meet the criteria for equity treatment
and must be recorded as liabilities. Accordingly, we classify the warrants as liabilities at their fair value and adjust the warrants
to fair value at each reporting period. The Company's accounting policy and estimate surrounding the warrant liability is deemed
to be critical since it is an equity linked instrument, the accounting pronouncement that determines the initial classification at issuance
is considered a complex topic. This liability is subject to re-measurement at each balance sheet date until exercised, and any change
in fair value is recognized in our statements of operations. Any changes in the value could have a significant impact on the results of
operations.

 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK

 Through December 31, 2023, our efforts were limited
to organizational activities, activities relating to our initial public offering and, since the initial public offering, the search for
a business opportunity for which to consummate a transaction. We have engaged in limited operations and have not generated any revenues.
We have not engaged in any hedging activities since our inception on March 18, 2020. We do not expect to engage in any hedging activities
with respect to the market risk to which we are exposed.

 As of December 31, 2023, we were not subject
to any market or interest rate risk. The Company's cash was invested in U.S. government treasury bills with a maturity of 185 days
or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct
U.S. government treasury obligations. Due to the short-term nature of these investments, we believe there was no associated material
exposure to interest rate risk.

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA

 This information appears following Item 16 of
this Annual Report and is included herein by reference.

 ITEM 9. CHANGES IN AND DISAGREEMENTS
WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES

 None.

 ITEM 9A. CONTROLS AND PROCEDURES

 Evaluation of Disclosure Controls and Procedures

 Disclosure controls and procedures are designed
to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported
within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our
management, including our Co-Principal Executive Officers and principal financial officer or persons performing similar functions, as
appropriate to allow timely decisions regarding required disclosure.

 As of December 31, 2023, as required by
Rules 13a-15 and 15d-15 under the Exchange Act, our principal executive officers and principal financial and accounting
officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures. Based upon
their evaluation, our Co-Chief Executive Officers and Chief Accounting Officer concluded that our disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were effective.

 Management's Report on Internal Controls
Over Financial Reporting

 As required by SEC rules and regulations
implementing Section 404 of the Sarbanes-Oxley Act, our management is responsible for establishing and maintaining adequate internal
control over financial reporting. Our internal control over financial reporting is designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of our financial statements for external reporting purposes in
accordance with U.S. GAAP. Our internal control over financial reporting includes those policies and procedures that:

 1.
 pertain to the maintenance of records
 that, in reasonable detail, accurately and fairly reflect the transactions and dispositions
 of the assets of our company,

 2.
 provide reasonable assurance that transactions
 are recorded as necessary to permit preparation of financial statements in accordance with
 U.S. GAAP, and that our receipts and expenditures are being made only in accordance with authorizations
 of our management and directors, and

 3.
 provide reasonable assurance regarding
 prevention or timely detection of unauthorized acquisition, use or disposition of our assets
 that could have a material effect on the financial statements.

 Because of its inherent limitations, internal
control over financial reporting may not prevent or detect errors or misstatements in our financial statements. Also, projections of any
evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate. Management assessed the effectiveness of our internal
control over financial reporting at December 31, 2023. In making these assessments, management used the criteria set forth by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework (2013). Based on our assessments
and those criteria, management determined that we did maintain effective internal control over financial reporting as of December 31,
2023.

 This Annual Report on Form 10-K does not include
an attestation report of our independent registered public accounting firm due to our status as an emerging growth company under the
JOBS Act.

 Remediation of a Material weakness in Internal
Control over Financial Reporting

 As described in Form 10-K for the year ended
December 31, 2022, we identified a material weakness in our internal controls over financial reporting related to the Company's
interpretation and accounting for the extinguishment of a significant contingent obligation in 2022.

 During 2023 we remediated this material weakness
by enhancing and improving the design and operating effectiveness of our internal controls over financial reporting, including (i) on-boarded
additional qualified personnel with the requisite experience and training to supplement existing accounting professionals; (ii) expanded
and improved the review process for complex transactions and related accounting standards; and (iii) enhanced access to accounting literature.

 Based upon the successful execution of the remediation
plan above and the testing and evaluation of the effectiveness of our internal control over financial reporting, we have concluded that
the material weakness referred to above has been remediated and no longer existed as of December 31, 2023.

 Changes in Internal Control over Financial
Reporting

 There were no changes in our internal control
over financial reporting, other than the remediation described above, during the most recent fiscal quarter that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.

 ITEM 9B. OTHER INFORMATION

 None.

 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS
THAT PREVENT INSPECTIONS.

 Not applicable.

 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 Directors and Executive Officers

 Our officers and directors are as follows:

 Name

 Age

 Position

 Executive Officers

 Marc Gabelli

 Chairman of the Board and Co-Chief
 Executive Officer

 Robert LaPenta, Jr.

 Co-Chief Executive Officer

 Joseph A. Gabelli

 Co-President

 Timothy Foufas

 Co-President

 Nathan G. Miller

 Chief Financial Officer

 John N. Givissis

 Senior Vice President and Chief Accounting Officer

 Non-Executive Officers

 Pei-Yu "Sandra" Yu

 Executive Vice President and Chief Operating Officer

 Jeffrey M. Illustrato

 Senior Vice President and Chief Administrative Officer

 Manjit S. Kalha

 Executive Vice President, Finance

 Directors

 Susan V. Watson

 Director (Independent)

 Daniel E. Zucchi

 Director (Independent)

 P. Kasper Jakobsen

 Director

 Marc Gabelli has served as Chairman
of the Board of Directors and Co-Chief Executive Officer since August 2022. Mr. Gabelli is the President of GGCP, Inc. the parent company
of Associated Capital Group, Inc. (NYSE: AC), which formed the Company's sponsor, PMV Consumer Acquisition Holding Company, LLC.
Mr. Gabelli served as President of AC from its formation until November 2016 and has served as a director since May 2017. Mr. Gabelli
also served as a director of GAMCO Investors, Inc. from November 2014 until May 2016. Mr. Gabelli has served as President of GGCP since
1999 and as a director since 1994. Mr. Gabelli has been Chairman of Teton Advisers, Inc. (OTC:TETA) since January 2018 and LGL Group,
Inc. (NYSE American: LGL) since 2017, and Chair of Gabelli Merger Plus+ Trust PLC (LSE: GMP) since 2017. Mr. Gabelli also has been Co-Chief
Executive Officer of Gabelli Securities International Ltd. since 1994, Managing Partner of Horizon Research of New Delhi India since
2012, and Director and Managing Partner of Swiss based GGCP and GAMA Funds Holdings GmbH since 2010. He also has been Chair and Chief
Executive of Gabelli & Partners Italia S.r. L. and Gabelli Value for Italy S.p. A., a Milan stock exchange listed special purpose acquisition
corporation, since 2018. Mr. Gabelli served as Chief Executive Officer, Chairman and as a director of LGL Systems Acquisition Corp. ("LGL
SPAC"), a special purpose acquisition corporation listed on the NYSE, from September 2019 until August 2021 (the close of LGL SPAC's
business combination with IronNet, Inc.). As a fund manager since 1990, Mr. Gabelli's focus is global value investments with portfolio
assignments including alternative and traditional asset management. He manages alternative investment portfolios and investment companies
trading on the London Stock Exchange. He has managed several Morningstar five star mutual funds and a Lipper #1 ranked global equity
mutual fund. In corporate matters, he has assisted on group restructurings, including GAMCO's initial public offering and the subsequent
formation of AC. He built the hedge fund platform of AC's wholly-owned subsidiary, Gabelli & Partners, LLC, and expanded the
business internationally, opening the GAMCO London and Tokyo offices. In 2001, he also formed and served as General Partner of OpNet
Partners, a Gabelli venture capital fund focused on optical networking technologies. He is also a Director of LICT Corporation (OTC:
LICT). Mr. Gabelli is active in a variety of charitable educational efforts in the United States, Europe and the United Kingdom. Mr.
Gabelli began his career in equity research and arbitrage for Lehman Brothers International. He is a member of the New York Society of
Security Analysts. He received an M.B.A. from the Massachusetts Institute of Technology and is a graduate of Harvard University, with
a Master's degree in Government, and Boston College, with a Bachelor's degree in economics. Mr. Gabelli brings to the Board
his management skills and expertise in finance, investment and merger and acquisition matters.

 Robert "Rob" LaPenta has
served as our Co-Chief Executive Officer since August 2022. Mr. LaPenta has an extensive career spanning over 30 years in finance, accounting,
consulting, capital markets origination, equity trading, asset allocation and mergers and acquisitions and has been active in transaction
sourcing, processing and execution. Mr. LaPenta began his career as a Senior Associate at Coopers & Lybrand as a CPA responsible for
managing audits, consulting, M&A due diligence and special project engagements for multiple clients in various industries. Mr. LaPenta
transitioned full time into the investment banking sector spending the next 13 years focused on trading and capital market activities
culminating in the role of Managing Director and Co-head of Equity Trading at Bank of America Securities, LLC where he managed the firm's
equity capital commitment, proprietary trading, secondary offerings and risk management within cash trading. In 2007, Mr. LaPenta joined
L-1 Identity Solutions, Inc. as Vice President of Mergers and Acquisitions and Corporate Strategy. Mr. LaPenta managed the firms M&A
processes from sourcing, structuring, valuation, diligence and financing of multiple transactions with the most notable being the negotiation
of the $1.6 billion sale of L-1 to Safran and BAE Systems. Following the sale of L-1, Mr. LaPenta became a Partner of Aston Capital an
alternative asset management firm of the LaPenta family office, and co-founded the Boundary Group, an investment partnership focused on
private investments in the aerospace, defense, and intelligence markets. Mr. LaPenta has previously served on the boards of directors
of Revolution Lighting Technologies, Inc. (until 2016), an LED lighting and control solutions company, TherapeuticsMD (Nasdaq: TXMD),
a women's healthcare product provider, The Radiant Group, a provider of geospatial analytics to the U.S Intelligence community (now
part of Nasdaq: MAXR), AFIX Technologies, a provider of biometric solutions for governments and civil agencies, is currently a board member
of LGL Group, Inc. (NYSE American: LGL), a board observer of ARKA, a provider of satellite data processing and related critical technologies
to the U.S. Government and Intelligence Agencies, and sits as an Audit Committee member for St. David's School New York City. Mr.
LaPenta is also a member of the board of directors of IronNet, Inc., a global leader in cybersecurity, since August 2021. Prior to that,
he served as Co-Chief Executive Officer and Chief Financial Officer of LGL SPAC from March 2021 to August 2021 (the close of LGL SPAC's
business combination with IronNet, Inc.), and from September 2019 to March 2021 as Executive Vice President and Chief Financial Officer.
Mr. LaPenta graduated from Boston College with a Bachelor's degree in Accounting and Finance and has been a registered CPA (inactive)
in the State of New York.

 Timothy Foufas has served as
our Co-President since August 2022. Mr. Foufas has also served as Managing Partner of Plato Foufas & Co., LLC, a financial services
company, since 2005, and as Co-Chief Executive Officer for the LGL Group, Inc. since August 2023. Previously, Mr. Foufas served as Vice
President and Chief Operating Officer, LGL Systems Acquisition Corp. (NYSE: DFNS), from September 2019 to August 2021; Chief Executive
Officer, LGL Systems Acquisition Corp., from inception to September 2019; President, Levalon Properties LLC (2007 to 2018), a real estate
property management company; Senior Vice President, Bayshore Management Co. LLC (2005 to 2006), a real estate property management company;
Director of Investments, Liam Ventures Inc. (2000 to 2005), a private equity investment firm; and Director, ICTC Group, Inc. (2010 to
2013), a rural local exchange carrier headquartered in Nome, ND. Mr. Foufas brings to the Board his management skills and expertise in
financial, investment and real estate matters.

 Joseph A. Gabelli has served as
our Co-President since September 2022 and prior to that as our President since our inception. Mr. J. Gabelli is a portfolio manager and
equity research analyst at GAMCO Investors with specialization in the consumer sector. He serves as a portfolio manager within the Gabelli
small and micro investment team, responsible for the management of investments below $500 million of capitalization. From 2008 until
June 2017, Mr. J. Gabelli served as an equity research analyst covering the global food and beverage industry within the Gabelli organization's
consumer sector platform. He began his investment career at Integrity Capital Management, a Boston-based equity hedge fund, where he
focused on researching small and micro-cap companies in the technology, healthcare and consumer discretionary sectors. He previously
served as a data strategy consultant for an early-stage media and marketing analytics firm, beginning in July 2017. From 2018, Mr. J.
Gabelli has been a part of the team responsible for the $594 million Teton Westwood Mighty Mites portfolio, as of June 30, 2020, reporting
directly to Mario Gabelli, the Chief Investment Officer.

 Nathan G. Miller has served as
our Chief Financial Officer since August 2022. Mr. Miller has worked in institutional investment management for more than 20 years and
has served as a partner and portfolio manager at Emles Advisors LLC, an asset manager founded in 2018, since 2020. In 2012, Mr. Miller
launched NGM Asset Management to combine passive, positive carry, high quality securities with opportunistic active management, and has
served as its Chief Investment Officer since 2012. From 2011 to 2012, Mr. Miller managed an equity long/short portfolio at Citadel Investment
Group in New York. From 2009 to 2011, Mr. Miller was Co-Head of Equity Long/Short Desk at RBC Capital Markets, with a focus on Industrials
and Cyclicals. He also oversaw risk management and the structure of eleven different investment teams across all sectors for the $2 billion
fund. From 2003 to 2009, Mr. Miller served as an Aerospace & Defense, Industrials & Cyclicals and Multi-Industry analyst at SAC
Capital, where he managed a carve-out of a larger $1 billion Industrials portfolio. From 2000 to 2003, Mr. Miller served as a home-building,
building materials and retail analyst for Goldman Sachs. Mr. Miller graduated from The Johns Hopkins University with a Bachelor's
degree in Biomedical Engineering and Electrical & Computer Engineering, a Bachelor's degree in Economics and a Minor in Entrepreneurship
& Management.

 John N. Givissis has served as
our Chief Accounting Officer since our inception. Mr. Givissis serves as chief financial officer of Gabelli & Partners where he oversees
accounting and financial reporting for clients invested in its hedge funds and alternative investment offerings, a position he has held
since 2006. Prior to joining Gabelli & Partners, he was the financial and operations principal of Garban Giorgio Equity Trading (formerly
a division of ICAP), an institutional brokerage firm, and controller at Gerard Klauer Mattison & Co., Inc., a boutique investment
banking firm. Mr. Givissis began his career in public accounting at Weidenbaum Ryder & Company, a regional tax and audit firm. Mr.
Givissis is a Licensed Certified Public Accountant (Inactive) in New York State and earned his B.S. in Accountancy and Economics from
St. Peter's College.

 Pei-Yu "Sandra" Yu has
served as our Executive Vice President and Chief Operating Officer since our inception. She became an independent non-executive director
of A2 Milk Company as of March 1, 2022. She is the former president of Mead Johnson Nutrition for Greater China and worked alongside Kasper
Jakobsen. During Mead's integration into its acquirer Reckitt Benckiser, she was named chief advisor to establish Reckitt's
China advisory board. Prior thereto, Ms. Yu served as acting chief marketing officer and vice president of global marketing during Mead's
initial public offering following its separation from Bristol Myers Squibb. She also was employed as vice president of regional marketing
for Asia. She began her career at Unilever and served as vice president of skin care Asia and as a marketing director for home and personal
care. She is also a former chair of the Pediatric Nutrition Industry Association. She has over 25 years' experience in the industry.
Her career successes were focused on global brand management, corporate governance, and business transformations. She received an MBA
in marketing and a Bachelor of International Business Management from National Taiwan University. She is also an alumnus of Harvard's
Advanced Management Program.

 Jeffrey M. Illustrato has served
as our Senior Vice President and Chief Administrative Officer since our inception. Mr. Illustrato serves as chief operating officer of
Gabelli & Partners, LLC, an alternative investment manager, overseeing sales and marketing for its alternative and non-U.S. offerings
since 2012. He has spent his entire 20-year career with Gabelli and has developed extensive administration and operations experience
during that time. Mr. Illustrato received a B.S. in Finance from Fairfield University.

 Manjit S. Kalha has been appointed
as our Executive Vice President, Finance in connection with our initial public offering. Mr. Kalha has served as a Vice President at Teton
Advisors, Inc. (OTC Pink: TETAA) since January 2022. Mr. Kalha has been a member of the board of directors of The LGL Group, Inc. since
2011. Mr. Kalha is chief executive officer of Jeet Associates Private Limited, a consulting firm based in New Delhi, India, that provides
business strategy, finance, and taxation advisory services. He holds the role of managing partner with Horizon Research, a firm that provides
investment management and consulting services. Between 2001 and 2006, Mr. Kalha was co-founder and chief operating officer of a manufacturer
of high quality specialty plastic components. He began his career in Arthur Andersen's New Delhi office and is a Chartered Accountant
and a fellow member of the Institute of Chartered Accountants of India. Mr. Kalha holds an MBA from the Massachusetts Institute of Technology
Sloan School of Management. Mr. Kalha has extensive experience in management and manufacturing operations, and in depth knowledge of global
financial markets.

 Susan V. Watson has served as a
member of our Board of Directors since September 2020. She is an experienced business executive with diverse experience in multiple industries.
Most recently, she was a member of the research team for Spencer Stuart's global executive search practice, specializing in placement
of board of directors members. She is also a current director of the Gabelli Dividend & Income Trust. Ms. Watson has worked as an
independent marketing consultant and as an investor relations executive for companies including MCI, Inc.; Interpublic Group; PepsiCo,
Inc.; Nielsen Media Research; and Gannett Co. Her other experience includes roles as a senior media analyst at Morgan Stanley & Co;
vice president (financial relations) at Metromedia, Inc.; senior media analyst and assistant vice president at EF Hutton & Co.; and
vice president (research) at Scudder, Stevens & Clark. Ms. Watson is a member of the CFA Institute and a past president of the Investor
Relations Association. She received her Bachelor's degree from the University of Southern California and Master of Arts from City
College of New York. She has been a Chartered Financial Analyst since 1980. We believe Ms. Watson is qualified to serve on our board
of directors due to her business and board experience, contacts and relationships.

 Daniel E. Zucchi has served as
a member of our Board of Directors since September 2020. He is president of Zucchi & Assoc., a marketing and communications consulting
firm. He is also a director of three funds advised by Gabelli Funds—The Gabelli Multimedia Trust, the Gabelli Gold Fund and the
Gabelli Capital Asset Fund. Mr. Zucchi served as a board member and an investor in Anduro Holdings Inc., a manufacturer of consumer packaging.
He served as a board member and was one of the initial investors in Cypress Care LLC, a pharmacy benefit management company. In addition,
Mr. Zucchi was a senior executive at Time Warner and the Hearst Corporation for over thirty years. In the public sector, Mr. Zucchi has
served as a locally-elected government official, most recently as a member of the Westchester County Executive's task force. Mr.
Zucchi is a graduate of the University of Connecticut, Storrs and attended the Harvard Asian American Alumni Alliance program during
his tenure at Time Warner. We believe Mr. Zucchi is qualified to serve on our board of directors due to his business and board experience,
contacts and relationships.

 P. Kasper Jakobsen has served as
a member of our Board of Directors since September 2020 and previously served as our Chief Executive Officer from our inception until
September 2022. Mr. Jakobsen previously served as chief executive officer and president of Mead Johnson Nutrition, a global consumer
company focused on infant and child nutrition, from 2013 until leading its sale to Reckitt Benkiser PLC in 2017. He was a Mead teammate
for 19 years after previously serving for 8 years in various marketing roles at Unilever N.V., one of the largest and oldest global consumer
goods businesses, and has served as a director of SC Johnson, a leading U.S. based manufacturer of household cleaning products and products
for home storage, air care, pest control and shoe care, as well as professional products. Mr. Jakobsen holds a bachelor's degree
in commerce from Auckland University in New Zealand. We believe Mr. Jakobsen is qualified to serve on our board of directors
due to his business experience and contacts and relationships.

 Number and terms of office of officers and
directors

 Our board of directors consists of four members
and each director shall hold office until the next annual meeting of stockholders.

 Our officers are appointed by the board of directors
and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized
to appoint such officers as it deems appropriate pursuant to our amended and restated certificate of incorporation.

 Director Independence

 An "independent director" is defined
generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship,
which, in the opinion of the company's board of directors, would interfere with the director's exercise of independent judgment
in carrying out the responsibilities of a director. We have determined that Susan V. Watson and Daniel E. Zucchi are independent
directors. Our independent directors hold regularly scheduled meetings at which only independent directors are present.

 Any affiliated transactions will be on terms
no less favorable to us than could be obtained from independent parties. Our board of directors will review and approve all affiliated
transactions with any interested director abstaining from such review and approval.

 Committees of the Board of Directors

 We have three standing committees: an audit committee,
a nominating committee, and a compensation committee. Each such committee is composed of solely independent directors.

 In addition, our board of directors approved
the formation of an advisory committee to be comprised of individuals who will assist management and the board in all aspects of our
operations, including activities aimed at identifying a potential business opportunity and effecting a transaction.

 Audit Committee

 Effective
September 21, 2020, we established an audit committee of the board of directors, which consists of Susan V. Watson and Daniel E. Zucchi,
each of whom is an independent director. The audit committee's duties, which are specified in our Audit Committee Charter, include,
but are not limited to:

 and discussing with management and the independent auditor the annual audited financial statements,
 and recommending to the board whether the audited financial statements should be included
 in our Form 10-K;

 discussing
 with management and the independent auditor significant financial reporting issues and judgments
 made in connection with the preparation of our financial statements;

 discussing
 with management major risk assessment and risk management policies;

 monitoring
 the independence of the independent auditor;

 verifying
 the rotation of the lead (or coordinating) audit partner having primary responsibility for
 the audit and the audit partner responsible for reviewing the audit as required by law;

 and approving all related-party transactions;

 inquiring
 and discussing with management our compliance with applicable laws and regulations;

 pre-approving
 all audit services and permitted non-audit services to be performed by our independent auditor,
 including the fees and terms of the services to be performed;

 appointing
 or replacing the independent auditor;

 determining
 the compensation and oversight of the work of the independent auditor (including resolution
 of disagreements between management and the independent auditor regarding financial reporting)
 for the purpose of preparing or issuing an audit report or related work; and

 establishing
 procedures for the receipt, retention and treatment of complaints received by us regarding
 accounting, internal accounting controls or reports which raise material issues regarding
 our financial statements or accounting policies.

 During the fiscal year ended December 31, 2023,
our audit committee held five meetings. Each of our audit committee members attended such meeting.

 Financial Experts on Audit Committee

 The board of directors has determined that Susan
V. Watson qualifies as an "audit committee financial expert," as defined under rules and regulations of the SEC.

 Nominating Committee

 Effective September 21, 2020, we established a
nominating committee of the board of directors, which consists of Susan V. Watson and Daniel E. Zucchi, each of whom is an independent
director. The nominating committee is responsible for overseeing the selection of persons to be nominated to serve on our board of directors.
The nominating committee considers persons identified by its members, management, stockholders, investment bankers and others.

 During the fiscal year ended December 31, 2023,
our nominating committee did not hold any meetings.

 Guidelines for Selecting Director Nominees

 The
guidelines for selecting nominees, which are specified in the Nominating Committee Charter, generally provide for the assessment of the
following criteria:

 the candidate is independent.

 the candidate is accomplished in his or her field and has a reputation, both personal and
 professional, that is consistent with the image and reputation of the Company.

 the candidate is financially literate, i.e. has the ability to read and understand basic
 financial statements. The Nominating Committee also will determine if a candidate has accounting
 or related financial management expertise and/or satisfies the criteria for being an "audit
 committee financial expert," as defined by the Securities and Exchange Commission.

 the candidate has relevant experience and expertise and would be able to provide insights
 and practical wisdom based upon that experience and expertise.

 the candidate has knowledge of the Company and issues affecting the Company.

 the candidate is committed to enhancing stockholder value.

 the candidate fully understands, or has the capacity to fully understand, the legal responsibilities
 of a director and the governance processes of a public company.

 the candidate is of high moral and ethical character and would be willing to apply sound,
 objective, and independent business judgment, and to assume broad fiduciary responsibility.

 the candidate has, and would be willing to commit, the required hours necessary to discharge
 the duties of Board membership.

 the candidate has any prohibitive interlocking relationships or conflicts of interest.

 the candidate is able to develop a good working relationship with other Board members and
 contribute to the Board's working relationship with the senior management of the Company.

 the candidate is able to suggest business opportunities to the Company.

 The Nominating Committee will consider a number
of qualifications relating to management and leadership experience, background and integrity, and professionalism in evaluating a person's
candidacy for membership on the board of directors. The nominating committee may require certain skills or attributes, such as financial
or accounting experience, to meet specific board needs that arise from time to time and will also consider the overall experience and
makeup of its members to obtain a broad and diverse mix of board members. The nominating committee does not distinguish among nominees
recommended by stockholders and other persons. There have been no material changes to the procedures by which security holders may recommend
nominees to our board of directors.

 Compensation Committee

 Effective September 21, 2020, we established
a compensation committee of the board of directors, which consists of Susan V. Watson and Daniel E. Zucchi, each of whom is an independent
director. The compensation committee's duties, which are specified in our Compensation Committee Charter, include, but are not
limited to:

and approving on an annual basis the corporate goals and objectives relevant to our co-chief executive officers' compensation,
evaluating our co-chief executive officers' performance in light of such goals and objectives and determining and approving the
remuneration (if any) of our co-chief executive officers based on such evaluation;

and approving the compensation of all of our other Section 16 executive officers;

our executive compensation policies and plans;

 implementing
and administering our incentive compensation equity-based remuneration plans;

 assisting
management in complying with our proxy statement and annual report disclosure requirements;

 approving
all special perquisites, special cash payments and other special compensation and benefit arrangements for our executive officers and
employees;

 producing
a report on executive compensation to be included in our annual proxy statement; and

 reviewing,
evaluating and recommending changes, if appropriate, to the remuneration for directors.

 Notwithstanding the foregoing, as indicated below,
other than the $10,000 per month administrative fee, no compensation of any kind, including finders, consulting or other similar fees,
will be paid to any of our existing stockholders, including our directors, or any of their respective affiliates, prior to, or for any
services they render in order to effectuate, the consummation of a transaction. Accordingly, it is likely that prior to the consummation
of a transaction, the compensation committee will only be responsible for the review and recommendation of any compensation arrangements
to be entered into in connection with such transaction.

 During the fiscal year ended December 31, 2023,
our compensation committee did not hold any meetings.

 Advisory Committee

 On September 21, 2020, our board of directors
approved the formation of an advisory committee to be comprised of individuals who will assist management and the board in all aspects
of our operations including activities aimed at identifying a potential business opportunity and effecting a transaction.

 Code of Ethics

 Effective September 21, 2020, we adopted a code
of ethics that applies to all of our executive officers, directors, and employees. The code of ethics codifies the business and ethical
principles that govern all aspects of our business. We will provide, without charge, upon request, copies of our code of ethics. Requests
for copies of our code of ethics should be sent in writing to our executive office.

 ITEM 11. EXECUTIVE COMPENSATION

 Executive Compensation

 No executive officer has received any cash compensation
for services rendered to us. PMV Consumer Delaware Management Partners LLC, an affiliate of our Sponsor, is due an aggregate fee of $10,000
per month for providing us with office space and certain office and secretarial services. However, this arrangement is solely for our
benefit and is not intended to provide our officers or directors compensation in lieu of a salary.

 Other than the $10,000 per month administrative
fee, the payment of consulting, success or finder fees to our Sponsor, officers, directors, initial stockholders or their affiliates in
connection with the consummation of a transaction and the repayment of loans that may be made by our Sponsor to us, no compensation or
fees of any kind, including finder's, consulting fees and other similar fees, will be paid to our Sponsor, initial stockholders,
special advisors, members of our management team or their respective affiliates, for services rendered prior to or in connection with
the consummation of a transaction (regardless of the type of transaction that it is). However, they will receive reimbursement for any
out-of-pocket expenses incurred by them in connection with activities on our behalf, such as identifying potential business opportunities,
performing business due diligence on suitable business opportunities and transactions as well as traveling to and from the offices, plants
or similar locations related to prospective business opportunities to examine their operations. There is no limit on the amount of out-of-pocket expenses
reimbursable by us.

 After the completion of a transaction, members
of our management team who remain with us may be paid consulting, management or other fees from the company with any and all amounts
being fully disclosed to stockholders, to the extent then known, in the proxy solicitation materials furnished to our stockholders. However,
the amount of such compensation may not be known at the time of the stockholder meeting, if any, held to consider a transaction, as it
will be up to the directors of the post-combination business, if any, to determine executive and director compensation. In this
event, such compensation will be publicly disclosed at the time of its determination in a Current Report on Form 8-K or a periodic
report, as required by the SEC.

 Since our formation, we have not granted any
stock options or stock appreciation rights or any other awards under long-term incentive plans to any of our executive officers or directors.

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

 The following table sets forth information regarding
the beneficial ownership of our common stock by:

 each
person known by us to be the beneficial owner of more than 5% of our outstanding shares of common stock;

 each
of our officers and directors; and

 all
of our officers and directors as a group.

 Unless otherwise indicated, we believe that all
persons named in the table have sole voting and investment power with respect to all shares of common stock beneficially owned by them.
The following table does not reflect record or beneficial ownership of the warrants included in the units offered in the IPO or the Private
Warrants as they are not exercisable within 60 days of the date hereof.

 Amount and

 Approximate

 Nature of

 Percentage of

 Beneficial

 Outstanding

 Name and Address of Beneficial Owner (1)

 Ownership

 PMV Consumer Acquisition Holding Company, LLC

 100,000
 (2)

 %

 PMV Consumer Delaware Management Partners, LLC

 100,000
 (2)

 %

 All directors and executive officers as a group (nine individuals)

 100,000
 (3)

 %

 (1)

 Unless otherwise indicated,
 the business address of each of the individuals is 249 Royal Palm Way, Suite 503, Palm Beach, FL 33480.

 (2)

 Interests shown consist
 of shares of Class A common stock, Class B convertible common stock, and Class C common stock. Represents shares held by our
 Sponsor, of which PMVC Delaware Management Partners, LLC is the manager. PMVC Delaware Management Partners, LLC is managed by a management
 board consisting of Marc Gabelli, Robert LaPenta, Jr., Nathan G. Miller, P. Kasper Jakobsen and Gabelli Investment Partners International
 LLC, with authority to approve actions of our Sponsor. Each management board member has one vote, and the approval of three of the
 five board members is required for approval of an action of the Sponsor. Under the so-called "rule of three", if voting
 and dispositive decisions regarding an entity's securities are made by three or more individuals, and a voting or dispositive
 decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the
 entity's securities. Based on the foregoing, no individual management board member exercises voting or dipositive control over
 any of the securities held by our Sponsor, even those in which he directly owns a pecuniary interest. Accordingly, none of them will
 be deemed to have or share beneficial ownership of such securities.

 (3)

 Certain of our officers
 and directors, including all of our executive officers, and entities associated with them, hold equity interests in our Sponsor.

 Equity Compensation
Plans

 As of December 31, 2023 and 2022, we had no compensation
plans (including individual compensation arrangements) under which equity securities of the registrant were authorized for issuance.

 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE

 For a complete discussion regarding certain relationships
and related transactions, see the section titled "Certain Transactions" contained in our prospectus dated September 21, 2020,
incorporated by reference herein.

 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

 The firm of WithumSmith+Brown,
PC, or Withum, acts as our independent registered public accounting firm. The following is a summary of fees paid or to be paid to Withum
for services rendered.

 Audit Fees. Audit
fees consist of fees billed for professional services rendered for the audit of our year-end financial statements and services that are
normally provided by Withum in connection with regulatory filings. The aggregate fees billed by Withum for professional services rendered
for the audit of our annual financial statements, review of the financial information included in our Forms 10-Q for the respective periods,
and other required filings with the SEC for the year ended December 31, 2023 and 2022 totaled $68,560 and $70,840, respectively. The above
amounts include interim procedures and audit fees, as well as attendance at audit committee meetings.

 Audit-Related Fees. Audit-related
services consist of fees billed for assurance and related services that are reasonably related to performance of the audit or review
of our financial statements and are not reported under "Audit Fees." These services include attest services that are not
required by statute or regulation and consultations concerning financial accounting and reporting standards. We did not pay Withum for
audit-related fees for the year ended December 31, 2023 and 2022.

 Tax Fees. As of
December 31, 2023 and 2022, we paid Withum $7,360 and $5,080, respectively, for tax planning and tax advice.

 All Other Fees.
We did not pay Withum for other services for the year ended December 31, 2023 and 2022.

 Pre-Approval Policy

 Our audit committee was formed in connection
with the effectiveness of our registration statement for our initial public offering. As a result, the audit committee did not pre-approve
all of the foregoing services, although any services rendered prior to the formation of our audit committee were approved by our board
of directors. Since the formation of our audit committee, and on a going-forward basis, the audit committee has and will pre-approve
all audit services and permitted non-audit services to be performed for us by our auditors, including the fees and terms thereof (subject
to the de minimis exceptions for non-audit services described in the Exchange Act, which are approved by the audit committee
prior to the completion of the audit).

 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

 (a)

 The following documents
 are filed as part of this Form 10-K:

 (1)

 Financial Statements:

 Page

 Report of Independent Registered Public Accounting Firm

 Financial Statements:

 Balance Sheets

 Statements of Operations

 Statements of Changes in Stockholder's Equity

 Statements of Cash Flows

 Notes to Financial Statements

 F-7 to F-17

 (2)

 Financial Statement Schedules:

 None.

 (3)

 Exhibits:

 We hereby file as part of this Report
the exhibits listed in the attached Exhibit Index. Exhibits which are incorporated herein by reference can be inspected and copied at
the public reference facilities maintained by the SEC, 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Copies of such material
can also be obtained from the Public Reference Section of the SEC, 100 F Street, N.E., Washington, D.C. 20549, at prescribed rates or
on the SEC website at www.sec.gov.

 Exhibit
 No.

 Description

 3.1

 Certificate of Incorporation.*

 3.2

 Certificate of Amendment to Certificate of Incorporation*

 3.3

 Bylaws*

 4.1

 Specimen Unit Certificate.**

 4.2

 Specimen Share Certificate.**

 4.3

 Specimen Warrant Certificate.**

 4.4

 Warrant Agreement between Continental Stock Transfer & Trust Company and the Registrant.***

 4.5

 Description of Registrant's Securities.

 10.1

 Form of Letter Agreement from each of the Registrant's initial stockholders, officers and directors.***

 10.2

 Investment Management Trust Agreement between Continental Stock Transfer & Trust Company and the Registrant.***

 10.3

 Registration Rights Agreement***

 Code of Ethics.**

 31.1

 Certification of Co-Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 31.2

 Certification of Co-Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 31.3

 Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

 32.1

 Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 101.INS

 101.SCH

 Schema Document.

 101.CAL

 Calculation Linkbase Document.

 101.DEF

 Definition Linkbase Document.

 101.LAB

 Label Linkbase Document.

 101.PRE

 Presentation Linkbase Document.

 Cover Page Interactive

 *

 Incorporated by reference
 to the Registrant's Current Report Form S-1 filed on August 6, 2020. (SEC File No. 333-241670).

 **

 Incorporated by reference
 to the Registrant's Registration Statement on Form S-1/A filed on August 17, 2020 (SEC File Nos. 333-241670).

 ***

 Incorporated by reference
 to the Registrant's Current Report on Form 8-K filed on September 25, 2020.

 Item 16. FORM 10-K SUMMARY

 None.

 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.

 PMV Consumer Acquisition Corp.

 Date: March 28, 2024

 By:

 /s/
 Marc Gabelli

 Name:

 Marc Gabelli

 Title:

 Co-Chief Executive Officer

 (Co-Principal Executive Officer)

 Date: March 28, 2024

 By:

 /s/ Robert
 LaPenta, Jr.

 Name:

 Robert LaPenta, Jr.

 Title:

 Co-Chief Executive Officer

 (Co-Principal Executive Officer)

 Date: March 28, 2024

 By:

 /s/ John N.
 Givissis

 Name:

 John N. Givissis

 Title:

 Chief Accounting Officer

 (Principal Financial and Accounting Officer)

 In accordance with the Securities
Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and
on the dates indicated.

 Name

 Title

 Date

 /s/ Marc Gabelli

 Chairman and Co-Chief Executive Officer

 March
 28, 2024

 Marc Gabelli

 (Co-Principal Executive Officer)

 /s/ Robert
 LaPenta, Jr.

 Co-Chief Executive Officer

 Robert LaPenta, Jr.

 (Co-Principal Executive Officer)

 /s/ Joseph
 A. Gabelli

 Co-President

 Joseph A. Gabelli

 /s/ Timothy
 Foufas

 Co-President

 Timothy Foufas

 /s/ Nathan
 G. Miller

 Chief Financial Officer

 Nathan G. Miller

 /s/ John N.
 Givissis

 Senior Vice President and Chief Accounting Officer

 John N. Givissis

 (Principal accounting and financial officer)

 /s/ Susan
 V. Watson

 Director

 Susan V. Watson

 /s/ Daniel
 E. Zucchi

 Director

 Daniel E. Zucchi

 /s/ P. Kasper
 Jakobsen

 Director

 P. Kasper Jakobsen

 INDEX TO FINANCIAL STATEMENTS

 Report of Independent Registered Public Accounting Firm

 Financial Statements:

 Balance Sheets

 Statements of Operations

 Statements of Changes in Stockholder's Equity

 Statements of Cash Flows

 Notes to Financial Statements

 F-7 to F-17

 F- 1

 REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM

 To the Stockholder and the Board of Directors
of

 PMV Consumer Acquisition Corp:

 Opinion on the Financial Statements

 We have audited the accompanying balance sheets
of PMV Consumer Acquisition Corp (the "Company") as of December 31, 2023 and 2022, the related statements of operations, changes
in stockholder's equity, and cash flows for the years then ended, and the related notes (collectively referred to as the "financial
statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company
as of December 31, 2023 and 2022, and the results of its operations and its cash flows for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.

 Basis for Opinion

 These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits.
We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and
are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission and the PCAOB.

 We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal
control over financial reporting. Accordingly, we express no such opinion.

 Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 /s/ WithumSmith+Brown, PC

 We have served as the Company's auditor since
2020.

 New York, New York

 PCAOB Number 100

 F- 2

 BALANCE SHEETS

 2023

 2022

 ASSETS

 Current assets

 Cash and cash equivalents

 $
 1,072,630

 $
 1,149,157

 Other receivable

 —

 Prepaid expenses

 129,474

 176,463

 TOTAL ASSETS

 $
 1,202,104

 $
 1,368,044

 LIABILITIES AND STOCKHOLDER'S EQUITY

 Current liabilities

 Accrued expenses

 $
 175,745

 $
 187,591

 Accounts payable – related party

 392,000

 272,000

 Income taxes payable

 10,259

 30,192

 Total current liabilities

 578,004

 489,783

 Derivative warrant liabilities

 2,980

 149,000

 Total Liabilities

 580,984

 638,783

 Commitments and contingencies

 Stockholder's Equity

 Preferred stock, $ 0.0001 par value; 20,000,000 shares authorized; none issued or outstanding

 —

 —

 Class A convertible common stock, $ 0.0001 par value; 45,000,000 shares authorized; 0 and 68,506 shares issued and outstanding as of December 31, 2023 and 2022, respectively

 —

 Class A common stock (fka Class C common stock), $ 0.0001 par value; 25,000,000 shares authorized; 73,169 and 4,663 issued and outstanding as of December 31, 2023 and 2022, respectively

 —

 Class B convertible common stock, $ 0.0001 par value; 10,000,000 shares authorized; 26,831 shares issued and outstanding

 Additional paid-in capital

 1,032,917

 1,032,917

 Accumulated deficit

 ( 411,807
)

 ( 303,666
)

 Total Stockholder's Equity

 621,120

 729,261

 TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY

 $
 1,202,104

 $
 1,368,044

 The accompanying notes are an integral part of
the financial statements.

 F- 3

 STATEMENTS OF OPERATIONS

 For the Years Ended

 2023

 2022

 General and administrative expenses

 $
 256,691

 $
 1,031,318

 Franchise tax expense

 13,200

 30,526

 Loss from operations

 ( 269,891
)

 ( 1,061,844
)

 Other income (expense):

 Interest earned on marketable securities held in Trust Account

 —

 1,161,232

 Interest earned on money market account

 51,915

 —

 Fair value adjustment on derivative warrant liabilities

 146,020

 9,388,845

 Loss on Class B shares transferred into Trust Account

 —

 ( 990,000
)

 Forgiveness of deferred underwriting fee payable

 —

 309,312

 Other income

 197,935

 9,869,389

 Income (loss) before provision for income taxes

 ( 71,956
)

 8,807,545

 Provision for income taxes

 ( 36,185
)

 ( 185,192
)

 Net income (loss)

 $
 ( 108,141
)

 $
 8,622,353

 Weighted average shares outstanding, of Class A convertible common stock, basic and diluted

 57,214

 321,120

 Basic and diluted net income (loss) per share, Class A convertible common stock

 $
)

 $
 21.20

 Weighted average shares outstanding, of Class A common stock (fka Class C common stock), basic and diluted

 15,955

 Basic and diluted net income (loss) per share, Class A common stock (fka Class C common stock)

 $
)

 $
 21.20

 Weighted average shares outstanding, of Class B convertible common stock, basic and diluted

 85,577

 Basic and diluted net income (loss) per share, Class B convertible common stock

 $
)

 $
 21.20

 The accompanying notes are an integral part of
the financial statements.

 F- 4

 STATEMENTS OF CHANGES IN STOCKHOLDER'S
EQUITY

 FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

 Class A
 Convertible

 Class A
 (fka Class C)

 Class B Convertible

 Additional

 Total
 Stockholder's

 Common Stock

 Common Stock

 Common Stock

 Paid-in

 Accumulated

 Equity

 Amount

 Amount

 Amount

 Capital

 (Deficit)

 (Deficit)

 Balance – January 1, 2022

 —

 $
 —

 —

 $
 —

 99,904

 $

 $

 $
 ( 14,194,809
)

 $
 ( 14,194,306
)

 Contribution of Class B founder shares to Trust Account (Note 1)

 —

 —

 —

 —

 —

 —

 —

 Class B founder shares converted (Note 1)

 68,506

 —

 —

 ( 68,506
)

 ( 7
)

 —

 —

 —

 Share issued at redemption (Note 1)

 —

 —

 —

 —

 —

 —

 Class B founder shares converted (Note 1)

 —

 —

 4,567

 —

 ( 4,567
)

 —

 —

 —

 —

 Remeasurement adjustment to amount subject to possible redemption

 —

 —

 —

 —

 —

 —

 5,268,790

 5,268,790

 Net income

 —

 —

 —

 —

 —

 —

 —

 8,622,353

 8,622,353

 Balance – December 31, 2022

 68,506

 $

 4,663

 $
 —

 $

 $
 1,032,917

 $
 ( 303,666
)

 $
 729,261

 Class A convertible common stock converted to Class A common stock (fka Class C common stock) (Note 1)

 ( 68,506
)

 ( 7
)

 68,506

 —

 —

 —

 —

 —

 Net loss

 —

 —

 —

 —

 —

 —

 —

 ( 108,141
)

 ( 108,141
)

 Balance – December 31, 2023

 —

 $
 —

 73,169

 $

 $

 $
 1,032,917

 $
 ( 411,807
)

 $
 621,120

 The accompanying
notes are an integral part of the financial statements.

 F- 5

 STATEMENTS OF CASH FLOWS

 For the Years Ended

 2023

 2022

 Cash Flows from Operating Activities:

 Net income (loss)

 $

 ( 108,141

)

 $

 8,622,353

 Adjustments to reconcile net income to net cash used in operating activities:

 Interest earned on marketable securities held in Trust Account

 —

 ( 1,161,232

)

 Change in fair value of derivative warrant liabilities

 ( 146,020

)

 ( 9,388,845

)

 Loss on Class B shares transferred into Trust Account

 —

 Forgiveness of deferred underwriting payable

 —

 ( 309,312

)

 Changes in operating assets and liabilities

 Other receivable

 ( 42,424

)

 Prepaid expenses

 46,989

 ( 73,379

)

 Income taxes payable

 ( 19,933

)

 30,192

 Accrued expenses

 ( 11,846

)

 83,388

 Accounts
payable – related party

 120,000

 120,000

 Net cash used in operating activities

 ( 76,527

)

 ( 1,129,259

)

 Cash Flows from Investing Activities:

 Cash withdrawn from Trust Account to pay franchise and income taxes

 —

 723,496

 Cash withdrawn from Trust Account to redeem investors

 —

 175,546,898

 Net cash provided by investing activities

 —

 176,270,394

 Cash Flows from Financing Activities:

 Redemption of common stock

 —

 ( 175,546,898

)

 Proceeds from conversion of Class A shares

 —

 Net cash used in financing activities

 —

 ( 175,504,474

)

 Net Change in Cash and Cash Equivalents

 ( 76,527

)

 ( 363,339

)

 Cash and cash equivalents – Beginning of year

 1,149,157

 1,512,496

 Cash and cash equivalents – End of year

 $

 1,072,630

 $

 1,149,157

 Supplemental disclosure of cash flow information:

 Cash paid for income taxes

 $

 56,383

 $

 155,000

 Non-cash investing and financing activities:

 Forgiveness of deferred underwriting fee payable allocated to Class A convertible common stock

 $

 —

 $

 5,815,688

 Contribution of Class B convertible common stock to the Trust Account

 $

 —

 $

 Conversion of Class B convertible common stock to Class A convertible common stock

 $

 —

 $

 Conversion of Class B convertible common stock to Class C common stock

 $

 —

 $

 —

 Conversion of Class A convertible common stock to Class C common stock

 $

 $

 —

 Renaming of Class C common stock to Class A common stock

 $

 $

 —

 The accompanying
notes are an integral part of the financial statements.

 F- 6

 NOTE 1. DESCRIPTION OF ORGANIZATION AND
BUSINESS OPERATIONS

 PMV Consumer Acquisition Corp. (the "Company")
was incorporated in Delaware on March 18, 2020. The Company was formed for the purpose of entering into a merger, share exchange, asset
acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.

 Although the Company is not limited to a particular
industry or sector for purposes of identifying a potential business opportunity and consummating a transaction, the Company intends to
focus its search on business opportunities in the consumer industry. The Company is an early stage and emerging growth company and, as
such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

 As of December 31, 2023, the Company had not commenced
any operations. All activity through December 31, 2023, relates to the Company's formation, the initial public offering ("Initial
Public Offering") and simultaneous private sale of warrants ("Private Warrants"), which is described below, and identifying
a potential business opportunity. It is unlikely that the Company will generate any operating revenues until after the completion of a
transaction, at the earliest. The Company generates non-operating income in the form of interest income.

 The Company initially had until September 21,
2022 to complete a business combination (the "Combination Period"). On September 21, 2022, the Company held a special meeting
of stockholders (the "Meeting"). The purpose of the Meeting was to approve the following amendments to the Company's
certificate of incorporation; to extend the date by which the Company had to consummate a business combination for one year, from September
21, 2022 to September 21, 2023, conditioned on the deposit of 200,000 shares of Class B common stock (to be converted into Class C common
stock) into the Company's Trust account, to increase authorized stock from 86,000,000 to 120,000,000 shares, of which 100,000,000
shall be shares of common stock, consisting of 45,000,000 shares of Class A common stock, 10,000,000 shares of Class B common stock, 25,000,000
shares of Class C common stock and 20,000,000 shares of Special common stock, and 20,000,000 shall be shares of preferred stock; to permit
the Company's board of directors to create Special common stock in one or more series and to fix for each series the voting powers,
designations, preferences, rights, qualifications, limitations and restrictions thereof; to provide for (i) the right of a holder of Class
A common stock to convert into Class C common stock on a one-for-one basis, (ii) the right of the Company to redeem Class A common stock
in exchange for a pro rata share of the net cash (and not stock) held in the Company's Trust Account, unless the holder elects to
receive Class C common stock issued on a one-for-one basis, plus a pro rata share of any stock held in the Trust Account, and (iii) upon
such redemption the extinguishment of the legal force and effect of the business combination and Trust Account provisions contained in
paragraphs A through I of Article Sixth of the charter; to (i) eliminate the Class B common stock anti-dilution provisions that require
adjustment to maintain the specified 20 % class ownership, and (ii) provide for the right of a holder of Class B common stock to convert
into Class C common stock on a one-for-one basis. All such amendments were approved at the Meeting. On September 27, 2022, the Sponsor
contributed to the Company for purposes of making a deposit into the Company's Trust Account of an aggregate of 200,000 shares of
Class B common stock (to be converted into Class C common stock) to extend the date by which the Company had to consummate a business
combination for one year, from September 21, 2022 to September 21, 2023.

 At the Meeting, in connection with the extension,
stockholders holding 15,453,391 shares of Class A convertible common stock exercised their right to redeem such shares for a pro rata
portion of the funds in the Trust Account. As a result, $ 154,874,303 (approximately $ 10.02 per share), which included $ 340,393 of interest
earned on the Trust Account which was not previously used to pay the Company's tax obligation, was removed from the Trust Account
to pay such holders. Following these redemptions, the Company had 2,046,609 shares of Class A convertible common stock outstanding and
the aggregate amount remaining in the Trust Account at the time was $ 20,511,170.

 On October 17, 2022, the Sponsor elected to convert
 3,000,000 shares of its Class B convertible common stock into 3,000,000 shares of Class A convertible common stock. Following the conversion,
the Sponsor owned 1,175,000 shares of Class B convertible common stock, and the Company had 5,046,609 shares of Class A convertible common
stock outstanding.

 On October 24, 2022, the Company's Class
A convertible common stock, redeemable warrants and units (consisting of one share of Class A convertible common stock and one-half of
one redeemable warrant) (collectively, the "Securities") commenced trading on the OTC Pink; the Company previously announced
its intention to voluntarily delist the Securities from the New York Stock Exchange ("NYSE"), and that the last day of trading
on the NYSE would be October 21, 2022.

 On December 14, 2022, any unseparated units of
the Company (consisting of one share of Class A convertible common stock and one-half of one redeemable warrant) terminated trading and
were subsequently separated.

 F- 7

 NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (CONT.)

 On December 27, 2022, the Company announced the
completion of the redemption of its outstanding shares of Class A convertible common stock subject to redemption, totaling 2,046,609 shares
issued in its IPO (the "Class A IPO Shares"), in accordance with the provision of its charter. Holders representing a total
of 2,042,409 shares of the Class A IPO Shares called for redemption elected to receive a pro rata share of the cash, including the interest
earned thereon net of interest that may be used by the Company to pay its taxes payable (and not any stock), held in the Company's
Trust Account. The $ 10.10 per share pro rata amount was calculated by dividing the number of Class A IPO Shares redeemed from each such
holder by the total number of outstanding Class A IPO Shares. Holders representing a total of 4,200 shares of the Class A IPO Shares called
for redemption elected to receive Class C common stock issued on a one-for-one basis for the number of Class A IPO Shares redeemed from
each such holder, plus each such holder's pro rata share of the 200,000 shares of Class C common stock held in the IPO Trust Account.
The pro rata share of the Class C common stock held in the Trust Account was calculated by dividing the number of Class A IPO Shares redeemed
from each such holder by the total number of Class A IPO Shares redeemed from all holders of Class A IPO Shares that elected to receive
stock. The amount of cash that would otherwise have been paid to holders who redeemed for cash (totaling approximately $ 42,424) was released
from the Trust Account and transferred to the Company. The Trust Account was terminated following the release of the cash and stock to
holders of Class A IPO Shares in complete liquidation of the assets held in trust. The 3,000,000 shares of Class A convertible common
stock owned by the Sponsor, were not redeemed and were expressly excluded from participating in, and were not otherwise entitled to, any
of the cash and stock held in the Trust Account. The Class A IPO Shares redeemed are no longer deemed to be outstanding and all rights
of the holders thereof as stockholders of the Company with respect to the Class A IPO Shares so redeemed have ceased. The Class C common
stock received by holders who elected to receive stock has not been listed on a securities exchange. Following the redemption, the Company
has outstanding 3,000,000 shares of Class A convertible common stock, 1,175,000 shares of Class B convertible common stock, 204,200 shares
of Class C common stock, 8,750,000 public warrants and 6,150,000 private placement warrants, as well as approximately $ 1,149,157 of cash
on hand available for working capital purposes.

 On February 27, 2023, the Sponsor purchased the
 204,200 shares of Class C common stock from the holder thereof, which were comprised of (i) 4,200 shares of Class C common stock, which
were issued on a one-for-one basis for the number of Class A convertible common stock of the Company previously redeemed from the holder
(as described above), and (ii) 200,000 shares of Class C common stock, which represents the holder's pro rata share of the Class
C common stock that were held in the Trust Account (as described above), for an aggregate purchase price of $ 42,000.

 On September 29, 2023, the Sponsor elected
to voluntarily convert all of its shares of Class A Common Stock into shares of Class C Common Stock (the "Class C
Conversion"). Following this conversion, which occurred on November 1, 2024, the Sponsor owned 1,175,000 shares of Class B
Common Stock and 3,204,200 shares of Class C Common Stock.

 In light of the Class C Conversion, and in order
to simplify and better reflect the purpose, capital structure, governance and organizational policies and procedures of the Company, the
Board of Directors of the Company (the "Board") recommended, and the stockholders approved on September 29, 2023, various
amendments to the Charter, as well as a reverse stock split of all outstanding shares of Class B Common Stock and Class C Common Stock
at a ratio of 43.792-to-1 (the "Reverse Stock Split"). The purpose of the Reverse Stock Split was to decrease the total
number of shares of the Company's Common Stock outstanding and increase the liquidity and market price of such shares to approximately
$ 10.00 per share. The other amendments to the Charter were as follows: (i) the elimination of any and all authorized shares of Class
A Common Stock, the renaming of the Class C Common Stock to Class A Common Stock (the "Reclassification"), and the elimination
of any and all authorized shares of Special Common Stock, (ii) the modification of the rights of the Class B Common Stock such that (a)
the provisions permitting conversion into shares of Class C Common Stock were deleted and (b) each holder of record shall be entitled
to ten (10) votes for each share of Class B Common Stock held, (iii) the deletion of certain provisions of Article SIXTH of the Charter,
including with respect to any references to a business combination and/or the Company's IPO Trust Account, as such provisions were
previously extinguished in accordance with the terms and conditions of the Charter and were therefore of no further legal force and effect,
and (iv) the deletion of certain provisions of Article SIXTH of the Charter, including the requirement that the Board be divided into
staggered classes for election. On November 2, 2023, the Company filed a Second Amended and Restated Certificate of Incorporation,
dated November 1, 2023, with the State of Delaware.

 Also, the Board recommended, and the stockholders
approved on September 29, 2023, an amendment to the Bylaws of the Company (the "Bylaws") to provide that, subject to applicable
law, any action that is required or permitted to be taken by the stockholders of the Company at any annual or special meeting of stockholders
may be effected by written consent of stockholders in lieu of a meeting. On November 2, 2023, the Company filed the Amended and
Restated Bylaws with the State of Delaware.

 On March 12, 2024 (the "Effective Date"),
the Reverse Stock Split was declared effective. As a result of the Reclassification and the Reverse Stock Split, approximately 26,831
shares of Class B Common Stock are in issue and outstanding and approximately 73,169 shares of Class A Common Stock are in issue and outstanding
as of the Effective Date.

 Following the Effective Date, and consistent with the terms and conditions
of the Warrant Agreement, the terms of the Company's public and private warrants are proportionately adjusted in the same ratio
as the reduction in the number of shares of outstanding Common Stock, except any fractional shares resulting from such adjustment are
rounded up or down, as the case may be, to the nearest whole share. Correspondingly, the per share exercise price of such warrants is
increased in direct proportion to the Reverse Stock Split ratio such that the aggregate dollar amount payable for the purchase of the
shares subject to such securities remains unchanged; therefore, the 8,750,000 public warrants are exercisable into approximately 199,808
shares of Class A Common Stock and the 6,150,000 private placement warrants are exercisable into approximately 140,437 shares of Class
A Common Stock, each at a price of approximately $ 503.61 per share. In furtherance of any prospective business opportunities, the
Company may in the future seek to pursue a variety of capital raising initiatives.

 F- 8

 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 Basis of Presentation

 The accompanying financial statements are presented
in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and pursuant to
the rules and regulations of the SEC.

 Emerging Growth Company

 The Company is an "emerging growth company,"
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (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 stockholder approval of any golden parachute payments not previously approved.

 Further, Section 102(b)(1) of the JOBS Act exempts
emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that
is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered
under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company
can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but
any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that
when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging
growth company, can adopt the new or revised standards at the time private companies adopt the new or revised standard. This may make
comparison of the Company's financial statements with another public company which is neither an emerging growth company nor an
emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences
in accounting standards used.

 Use of Estimates

 The preparation of financial statements in conformity
with U.S. GAAP requires the Company's 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 statements and reported amounts of expenses
during the reporting period.

 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. One of the more significant accounting estimates included in these financial statements
is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information
becomes available and accordingly the actual results could differ significantly from those estimates.

 Marketable Securities Held in Trust Account

 At December 31, 2022, the Trust Account was fully
liquidated. Prior to liquidation the Trust Account had been held in money market funds which primarily invested in U.S. Treasury Securities.

 F- 9

 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT.)

 Common Stock Subject to Possible Redemption

 The Company had classified all of the shares of
Class A IPO common stock as temporary equity. Immediately upon the closing of the Public Offering, the Company recognized the accretion
from initial book value to redemption amount value. The change in the carrying value of redeemable shares of Class A IPO common stock
resulted in charges against additional paid-in capital and accumulated deficit. As a result of redemptions in September and December 2022,
the Class A IPO Shares are no longer deemed to be outstanding and all rights of the holders thereof as stockholders of the Company with
respect to the Class A IPO Shares so redeemed have ceased.

 Derivative Warrant Liabilities

 The Company accounts for warrants as either equity-classified
or liability-classified instruments based on an assessment of the warrant's specific terms and applicable authoritative guidance
in Financial Accounting Standards Board ("FASB") ASC 480, "Distinguishing Liabilities from Equity" ("ASC
480"), and ASC 815, "Derivatives and Hedging" ("ASC 815"). The assessment considers whether the
warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether
the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company's
own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment,
is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

 For issued or modified warrants that meet all
of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the
time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required
to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair
value of the warrants are recognized as a non-cash gain or loss on the statements of operations.

 Income Taxes

 The Company follows the asset and liability method
of accounting for income taxes under ASC 740, "Income Taxes" ("ASC 740"). Deferred tax assets and liabilities
are recognized for the estimated future tax consequences attributable to differences between the financial statements' carrying
amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted
tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment
date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

 ASC 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. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and 2022. 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 is subject
to income tax examinations by major taxing authorities since inception.

 F- 10

 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT.)

 Net Income (Loss) Per Common Share

 Net income (loss) per common share is computed by dividing net income
(loss) by the weighted average number of shares of common stock outstanding for the period. The Company has not considered the effect
of warrants to purchase 340,245 shares of Class A common stock, since the warrants are contingent upon the occurrence of future events
and average market price of the Company's Class A common stock for the years ended December 31, 2023 and 2022, was below the Warrants'
$ 503.61 exercise price. As a result, diluted income per common share is the same as basic income per common share for the periods presented.

 The Company has three classes of shares that participate in earnings,
which are referred to as Class A convertible common stock and Class A common stock (fka Class C common stock) and Class B convertible
common stock (the "Founder Shares"). Earnings and losses are shared pro-rata between the three classes of shares. This presentation
contemplates a transaction as the most likely outcome, in which case, all three classes of shares share pro rata in the income (loss)
of the Company. Accretion associated with the redeemable shares of Class A convertible common stock is excluded from earnings as the redemption
value approximates fair value.

 The following table reflects the calculation of
basic and diluted net income (loss) per share of common stock (in dollars, except share amounts):

 For the Years Ended December 31,

 2023

 2022

 Class A convertible common stock

 Class A common stock (fka Class C common stock)

 Class B convertible common stock

 Class A convertible common stock

 Class A common stock (fka Class C common stock)

 Class B convertible common stock

 Basic net income (loss) per share of common stock

 Numerator:

 Allocation of net income (loss)

 $
 ( 61,871
)

 $
 ( 17,254
)

 $
 ( 29,016
)

 $
 6,804,477

 $
 1,086

 $
 1,816,790

 Denominator:

 Basic weighted average shares outstanding

 57,214

 15,955

 321,120

 85,577

 Basic net income (loss) per share of common stock

 $
)

 $
)

 $
)

 $
 21.20

 $
 21.20

 $
 21.20

 Concentration of Credit Risk

 Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage of $ 250,000. Any loss incurred, or a lack of access to such funds, could have a significant adverse
impact on the Company's financial condition, results of operations, and cash flows.

 Fair Value of Financial Instruments

 Excluding the warrant liability, the fair value
of the Company's assets and liabilities, which qualify as financial instruments under ASC 820, "Fair Value Measurements
and Disclosures," approximates the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their
short-term nature.

 Reclassification

 The related party payables and accrued expenses
have been reclassified for the prior year on the current year balance sheet for presentation purposes. No changes to the total assets,
liabilities, or stockholder's equity has been made.

 F- 11

 NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 (CONT.)

 Recent Accounting Pronouncements

 In August 2020, the FASB issued Accounting Standards
Update ("ASU") 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)" ("ASU 2020-06"), to simplify accounting for certain
financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion
features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts
in an entity's own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments
that are indexed to and settled in an entity's own equity. ASU 2020-06 amends the diluted earnings per share guidance, including
the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be
applied on a full or modified retrospective basis. The Company adopted ASU 2020-06 on January 1, 2022. Adoption of ASU 2020-06 did not
impact the Company's financial position, results of operations or cash flows.

 Management does not believe that any other recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's financial
statements.

 NOTE 3. RELATED PARTY TRANSACTIONS

 On March 20, 2020, the Sponsor purchased 3,593,750
shares of Class B convertible common stock (the "Founder Shares") for an aggregate price of $ 25,000, or approximately $ 0.007
per share.

 On August 3, 2020, the Company effected a 1.4-for-1
forward stock split of its issued and outstanding shares of Class B convertible common stock, resulting in an aggregate of 5,031,250 Founder
Shares being outstanding, of which an aggregate of up to 656,250 shares were subject to forfeiture by the Sponsor to the extent that the
underwriters' over-allotment option was not exercised in full or in part so that the Sponsor would own, on an as-converted basis,
 20 % of the Company's issued and outstanding shares after the Initial Public Offering.

 On November 5, 2020, the over-allotment option
expired and was not exercised. Consequently 656,250 Founder Shares were forfeited. Following the forfeiture, the sponsor owned 4,375,000
shares of Class B convertible common stock.

 On September 27, 2022, the Company's Sponsor
contributed to the Company an aggregate of 200,000 shares of Class B convertible common stock. Following the contribution, the Sponsor
owned 4,175,000 shares of Class B convertible common stock.

 On October 17, 2022, the Sponsor elected to convert 3,000,000 shares
of Class B convertible common stock into 3,000,000 shares of Class A convertible common stock. Following the conversion, the Sponsor owned
 1,175,000 shares of Class B convertible common stock.

 The Class B convertible common stock is identical to the Class A convertible
common stock except that (i) each share of Class B convertible common stock shall be entitled to ten (10) votes at any annual or special
meeting of stockholders or in the case of any written consent of stockholders in lieu of a meeting and for all purposes, and (ii) the
Class B convertible common stock has the exclusive right to elect, replace and remove the directors of the Company. Holders of Class B
convertible common stock may also elect to convert their shares of Class B convertible common stock into an equal number of shares of
Class A common stock, subject to adjustment as provided above, at any time.

 On February 27, 2023, the Sponsor purchased
 204,200 shares of Class C common stock from a Holder, which were comprised of (i) 4,200 shares of Class C common stock, which were
issued on a one-for-one basis for the number of shares of Class A convertible common stock of the Company previously redeemed from
the Holder, and (ii) 200,000 shares of Class C common stock, which represent the Holder's pro rata share of the Class C common
stock that were held in the Trust Account, for an aggregate purchase price of $ 42,000.

 On November 1, 2023, the Sponsor voluntarily elected to convert all
of its shares of Class A convertible common Stock into shares of Class C common stock (the "Class C Conversion"), which upon
completion the Class C common stock was renamed Class A common stock.

 Administrative Support Agreement

 The Company entered into an agreement whereby,
commencing September 24, 2020, the Company will pay an affiliate of the Sponsor a total of $ 10,000 per month for office space, utilities
and secretarial and administrative support. For each of the years ended December 31, 2023 and 2022, the Company incurred fees for these
services of $ 120,000 and $ 120,000 respectively. Administrative support fees included in accounts payable – related party in the
accompanying balance sheets at December 31, 2023 and 2022, were $ 392,000 and $ 272,000, respectively.

 Cash and Cash Equivalents

 At December 31, 2023 and 2022, the Company held $ 1,067,915 and $0,
respectively, in the Gabelli U.S. Treasury Money Market Fund, which is recorded in cash and cash equivalents on the balance sheets. The
Gabelli U.S. Treasury Money Market Fund is an open-ended money market fund with published daily net asset values ("NAV"),
in which case the Company uses NAV as a practical expedient to fair value. The NAV on this investment is held constant at $ 1.00 per unit.

 F- 12

 NOTE 4. COMMITMENTS AND CONTINGENCIES

 Underwriting Agreement

 The underwriters were entitled to a deferred fee
of $ 0.35 per Unit, or $ 6,125,000.

 On August 22, 2022, UBS agreed to waive its entitlement
to the deferred underwriting commission of $ 4,593,750 to which it became entitled upon completion of the Company's Initial Public
Offering, subject to the consummation of the Transaction. On December 27, 2022, the Company announced the completion of the redemption
of its outstanding shares of Class A common stock subject to redemption, totaling 2,046,609 shares issued in its IPO, in accordance with
the provision of its charter, which resulted in the forfeiture of the remaining $ 1,531,250 of the deferred underwriting fee. As a result,
and for the year ended December 31, 2022, the Company derecognized the entire deferred underwriting fee payable of $ 6,125,000 and recorded
$ 5,815,688 of the forgiveness of the deferred underwriting fee allocated to Public Shares to the carrying value of the shares of Class
A common stock and the remaining balance of $ 309,312 as a gain from extinguishment of liability allocated to warrant liabilities.

 Risks and Uncertainties

 United States and global markets are experiencing
volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation
of the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, 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
and to Israel, increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the escalation of the
Israel-Hamas conflict 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, Israel and its neighboring states 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 conflicts are highly unpredictable,
they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply
chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the
global economy and financial markets and lead to instability and lack of liquidity in capital markets.

 Any of the above mentioned factors, or any other
negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine,
the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company's search
for a business opportunity and any target business with which the Company may ultimately consummate a business opportunity.

 F- 13

 NOTE 5. STOCKHOLDER'S EQUITY

 Preferred Stock — At
inception, the Company was authorized to issue 1,000,000 shares of preferred stock with a par value of $ 0.0001 per share with such designation,
rights and preferences as may be determined from time to time by the Company's board of directors. On September 21, 2022, the Company
amended the Certificate of Incorporation to authorize 20,000,000 shares of preferred stock with a par value of $ 0.0001. At December 31,
2023 and 2022, there were no shares of preferred stock issued or outstanding.

 Common Stock — At inception, the authorized common stock of the Company included up
to 75,000,000 shares of Class A convertible common stock and 10,000,000 shares of Class B convertible common stock. On September 21, 2022,
the Company amended the Certificate of Incorporation to authorize 45,000,000 shares of Class A convertible common stock, 10,000,000 shares
of Class B convertible common stock, 25,000,000 shares of Class C common stock and 20,000,000 shares of Special common stock. On
November 1, 2023, the Company amended the Certificate of Incorporation to authorize 25,000,000 shares of Class A common stock (fka Class
C common stock) and 10,000,000 shares of Class B convertible common stock.

 At December 31, 2023 and 2022, there were no shares of Class A convertible
common stock issued and outstanding, 73,169 shares of Class A common stock (fka Class C common stock) issued and outstanding, and 26,831
shares of Class B convertible common stock issued and outstanding.

 Warrants — Public Warrants
may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. No warrants
will be exercisable for cash unless the Company has an effective and current registration statem ent
covering the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to such shares of common
stock.

 Once
the warrants become exercisable, the Company may redeem the Public Warrants:

 in whole and not in part;

 at
 a price of $0.01 per warrant;

 upon
 not less than 30 days' prior written notice of redemption;

 if,
 and only if, the reported last sale price of the Company's common stock equals or exceeds
 $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
 and the like and subject to adjustment as described below) for any 20 trading days within
 a 30-trading day period ending on the third business day prior to the notice of redemption
 to the warrant holders; and

 If,
 and only if, there is a current registration statement in effect with respect to the shares
 of common stock underlying the warrants.

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

 The
exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances,
including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants
will not be adjusted for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be
required to net cash settle the warrants. The Company liquidated the funds held in the Trust Account; holders of warrants did not receive
any of such funds with respect to their warrants, nor did they receive any distribution from the Company's assets held outside
of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.

 The Private Warrants will be identical to the
Public Warrants underlying the Units sold in the Initial Public Offering, subject to certain limited exceptions. Additionally, the Private
Warrants will be exercisable for cash or on a cashless basis, at the holder's option, and be non-redeemable so long as they are
held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchaser
or its permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis
as the Public Warrants.

 The below table outlines our capital structure as of December 31, 2023
and 2022:

 Share

Class

Outstanding

 Registered*

 Class A common (fka Class C common)

 0.10

 %

 Restricted**

 Class A common (fka Class C common)

 73.07

 %

 73,073

 Total Class A Common Shares

 73.17

 %

 73,169

 Restricted**

 Class A convertible common

 —

 %

 —

 Restricted**

 Class B convertible common

 26.83

 %

 Total Outstanding Shares

 100.00

 %

 100,000

 *
 Registered shares are not
listed, and thus are not freely tradeable.

 **
 Restricted shares are unregistered, are not freely tradable and are subject to individual legends and restrictions.

 F- 14

 NOTE 6. INCOME TAXES

 The Company's net deferred tax assets at
December 31, 2023 and 2022, are as follows:

 Deferred tax asset

 2023

 2022

 Organizational costs/Start-up expenses

 $
 401,781

 $
 347,876

 Federal Net Operating Loss

 —

 —

 Total deferred tax asset

 401,781

 347,876

 Valuation allowance

 ( 401,781
)

 ( 347,876
)

 Deferred tax asset, net of allowance

 $
 —

 $
 —

 The income tax provision for the years ended December 31, 2023 and
2022, consists of the following:

 Federal

 2023

 2022

 Current

 $
 11,133

 $
 185,192

 Deferred

 ( 53,905
)

 ( 164,321
)

 State

 Current

 $
 25,052

 $
 —

 Deferred

 —

 —

 Change in valuation allowance

 53,905

 164,321

 Income tax provision

 $
 36,185

 $
 185,192

 As of December 31, 2023 and 2022,
the Company did not have any U.S. federal and state net operating loss carryovers ("NOLs") available to offset future taxable
income.

 In assessing the realization of the deferred tax
assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized.
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which
temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred
tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of
the information available, management determined that a full valuation allowance was required.

 A reconciliation of the income tax rate to the
Company's effective tax rate for the years ended December 31, 2023 and 2022, is as follows:

 As of
 2023

 As of
 2022

 Statutory federal income tax rate

 21.0
 %

 21.0
 %

 State taxes, net of federal tax benefit

 5.5
 %

 0.0
 %

 Permanent book/tax differences

 42.6
 %

 ( 20.8
)%

 Change in valuation allowance

 ( 74.9
)%

 1.9
 %

 Effective income tax rate

 ( 5.8
)%

 2.1
 %

 The Company files income tax returns in the U.S.
federal jurisdiction in various state and local jurisdictions and is subject to examination by the various taxing authorities.

 F- 15

 NOTE 7. FAIR VALUE MEASUREMENTS

 The fair value of the 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:

 Level 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.

 Level 2:

 Observable inputs other than Level 1 inputs. Examples of Level 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.

 Level 3:

 Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

 The following tables present information about
the Company's assets that are measured at fair value on a recurring basis at December 31, 2023 and 2022, and indicate
the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

 Description

 2023

 Quoted Prices
 in Active
 Markets
 (Level 1)

 Significant
 Other
 Observable
 Inputs
 (Level 2)

 Significant
 Other
 Unobservable
 Inputs
 (Level 3)

 Liabilities:

 Derivative Warrant Liabilities – Public Warrants

 $
 1,750

 $
 —

 $
 1,750

 $
 —

 Derivative Warrant Liabilities – Private Placement Warrants

 $
 1,230

 $
 —

 $
 1,230

 $
 —

 Description

 2022

 Quoted Prices
 in Active
 Markets
 (Level 1)

 Significant
 Other
 Observable
 Inputs
 (Level 2)

 Significant
 Other
 Unobservable
 Inputs
 (Level 3)

 Liabilities:

 Derivative Warrant Liabilities – Public Warrants

 $
 87,500

 $
 —

 $
 87,500

 $
 —

 Derivative Warrant Liabilities – Private Placement Warrants

 $
 61,500

 $
 —

 $
 61,500

 $
 —

 The fair value of the Company's Public Warrants
at December 31, 2023 and 2022, is based on observable inputs. The fair value of the Private Warrants prior to their transfer
to Level 2 in Q4 2022 was based on a Monte Carlo simulation model, with changes in fair value recognized in the statements of operations.
As of December 31, 2022 and subsequent measurements, the measurement of the Private Warrants are classified as Level 2 due to the use
of the closing price of the Public Warrants, an observable market quote for a similar asset in an active market.

 F- 16

 NOTE 7. FAIR VALUE MEASUREMENTS (CONT.)

 The aforementioned warrant liabilities are not
subject to qualified hedge accounting.

 Transfers to/from Levels 1, 2 and 3 are recognized
at the end of the reporting period in which a change in valuation technique or methodology occurs.

 The following table presents the changes in the
fair value of warrant liabilities for the year ended December 31, 2022:

 Private
 Warrants

 Public
 Warrants

 Total

 Derivative warrant liabilities – Level 3, at December 31, 2021

 $
 3,937,845

 $
 —

 $
 3,973,845

 Change in fair value recognized in earnings

 ( 3,876,345
)

 —

 ( 3,876,345
)

 Transfer of Private Warrants to Level 2

 ( 61,500
)

 —

 61,500

 Derivative warrant liabilities – Level 3, at December 31, 2022

 $
 —

 $
 —

 $
 —

 On September 27, 2022, the Company's Sponsor
contributed to the Company for purposes of making a deposit into the Company's IPO Trust Account of an aggregate of 200,000 shares
of Class B common stock (to be converted into Class C common stock) to extend the date by which the Company has to consummate a business
combination for one year, from September 21, 2022 to September 21, 2023.

 The fair value of the Class B common stock was
calculated by multiplying the probability of a transaction by the Class A share price. However, inherent uncertainties are involved. If
factors or assumptions change, the estimated fair values could be materially different.

 The following table provides quantitative information regarding Level
3 fair value measurements of the Class B common stock:

 As of
 September 30,
 2022
 (Initial measurement)

 Stock price

 $
 9.90

 Probability of completing a Business Combination

 $
 50.00
 %

 The following table presents the changes in the
fair value of Class B common stock:

 Class B
 Common Stock

 Initial measurement on September 30, 2022

 $

 Change in fair value

 ( 990,000
)

 Fair value measurement on December 31, 2022

 $
 —

 NOTE 8. SUBSEQUENT EVENTS

 The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company
did not identify any subsequent events that would have required adjustment or disclosure in the financial statements other than as follows.
Subsequent to year end, the Company effected a reverse stock split, which was retroactively restated. See Note 1 to the financial statements.

 NONE NONE

 321120 57214 21.20 1.08 15955 51 21.20 1.08 26831 85577 21.20 1.08

 The following table presents the changes in the fair value of warrant liabilities for the years ended December 31, 2022:

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