0001829126-24-003033 | S-1/A | XBRL Viewer

Change in fair value of forward purchase agreement put option liability

5,313,000

2,025,000

12,321,000

7,898,000

Loss from operations

733,000

293,000

2,996,000

1,444,000

Other income/ (expense)

(17,247,000)

Change in fair value of derivative warrant liabilities

852,000

Interest income

83,000

80,000

217,000

175,000

Other income/(expense), net

(115,000)

(52,000)

(314,000)

(166,000)

(50,000)

106,000

70,000

518,000

Total other income/(expense), net

(16,477,000)

134,000

(16,422,000)

527,000

Income/(loss) before income taxes

(15,744,000)

427,000

(13,426,000)

1,971,000

Income tax expense

(557,000)

(742,000)

(1,454,000)

(1,150,000)

Net income / (loss)

(16,301,000)

(315,000)

(14,880,000)

821,000

Less: Net income / (loss) attributable to noncontrolling interests

(44,000)

(45,000)

137,000

125,000

Less: Net income attributable to redeemable noncontrolling interests

154,000

Net income / (loss) attributable to shareholders’ of Aeries Technology, Inc.

$ (16,411,000)

$ (270,000)

$ (15,171,000)

$ 696,000

Net loss per share attributable to shareholders’ of Aeries Technology, Inc.

Weighted average shares outstanding of Class A ordinary shares, basic and diluted

^[1]

15,389,062

Basic net loss per Class A ordinary share

^[1]

$ (1.08)

Diluted net loss per Class A ordinary share

^[1]

$ (1.08)

[1]

For the three and nine months ended December 31, 2023, net loss per Class A ordinary share and weighted average Class A ordinary shares outstanding is representative of the period from November 6, 2023 through December 31, 2023, the period following the Business Combination, as defined in Note 1. For more information refer to Note 15

Net loss per Share

9 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net loss per Share

Note 15 - Net loss per Share

Basic consolidated net loss per share (“EPS”) is calculated using the Company’s share of its subsidiaries earnings/ net loss as well as ATI stand-alone earnings/ net loss and the weighted number of shares outstanding during the reporting period. Diluted consolidated EPS includes the dilutive effect of vested and unvested stock options of the Company’s subsidiaries.

The Company analyzed the calculation of net loss per share for periods prior to the Business Combination on November 6, 2023 and determined that it resulted in values that would not be meaningful to the users of the condensed consolidated financial statements, as the capital structure completely changed as a result of the Business Combination. Therefore, net loss per share information has not been presented for periods prior to the Business Combination. The basic and diluted net loss per share attributable to Class A ordinary shareholders’ for the three and nine month period ended December 31, 2023, as presented on the condensed consolidated statements of operations, represents only the period after the Business Combination to December 31, 2023.

The Company’s Class V ordinary shares do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted net loss per Class V ordinary share under the two-class method has not been presented.

The following table sets forth the computation of basic and diluted net loss per share for the period from November 6, 2023 through December 31, 2023 (in thousands, except share and per share amounts):


Numerator:
Net income / (loss) attributable to controlling interest for the period from November 6, 2023 through December 31, 2023	$	(16,626	)

Denominator:
Weighted average shares outstanding of Class A ordinary shares, basic and diluted for the period from November 6, 2023 through December 31, 2023		15,389,062

Net loss per share Ordinary Shares
Basic	$	(1.08	)
Diluted	$	(1.08	)

Restatement of Previously Issued Carve-out Consolidated Financial Statements (Details) - USD ($)

3 Months Ended

9 Months Ended

10 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Sep. 30, 2022

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Sep. 30, 2022

Dec. 31, 2021

Dec. 31, 2022

$ 5,313,000

$ 2,025,000

$ 12,321,000

$ 7,898,000

733,000

$ (1,597,474)

293,000

$ (1,444,411)

2,996,000

$ (5,344,586)

1,444,000

$ (2,101,731)

$ (1,521,855)

$ (348,075)

$ (1,020,930)

$ 9,626,072

$ (2,633,699)

$ 9,759,713

Previously Reported [Member]

$ (44,000)

$ (45,000)

$ 137,000

125,000

Selling, administrative and general expenses

8,202,000

8,202,000

Income before income taxes

1,140,000

1,667,000

517,000

Net income attributable to controlling interest

^[1]

69,000

448,000

Revision of Prior Period, Adjustment [Member]

Selling, administrative and general expenses

(304,000)

(304,000)

Income before income taxes

304,000

304,000

304,000

Net income attributable to controlling interest

^[1]

56,000

248,000

As Restated [Member]

Selling, administrative and general expenses

7,898,000

7,898,000

Income before income taxes

1,444,000

1,971,000

821,000

Net income attributable to controlling interest

^[1]

125,000

$ 696,000

[1]	The change in net income attributable to noncontrolling interest comprises of two impacts i.e., consequential impact on account of the change in accounting for transaction costs as set out above and change in the percentage attributable to noncontrolling interest based on the note discussed below.

Restatement of Previously Issued Carve-out Consolidated Financial Statements (Details 1) $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($)
Previously Reported [Member]
Net income attributable to noncontrolling interest	$ 68
Revision of Prior Period, Adjustment [Member]
Net income attributable to noncontrolling interest	19
As Restated [Member]
Net income attributable to noncontrolling interest	$ 87

Amount of Net Income (Loss) attributable to noncontrolling interest.

Restatement Of Previously Issued Condensed Carve-out Consolidated Financial Statements

Initial Public Offering

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Initial Public Offering

Initial Public Offering

Note 3 - Initial Public Offering

Pursuant to the Initial Public Offering and the exercise of underwriters’ Over-Allotment option, the Company sold 23,000,000 Units at a purchase price of $10.00 per Unit. Each Unit consists of one share of Class A ordinary shares and one-half of one Public Warrant. Each whole Public Warrant entitles the holder to purchase 1 one share of Class A ordinary shares at an exercise price of $11.50 per share. On April 14, 2023, in Connection with the Meeting discussed in Note 1, holders of 18,281,946 Class A ordinary shares were redeemed, leaving 4,718,054 Class A ordinary shares remain outstanding.

Anchor Investors purchased an aggregate of $198.6 million of units in this offering at the offering price, and we have agreed to direct the underwriters to offer to each Anchor Investor up to such number of units and no more than 9.9% of the units in this offering per Anchor Investor. Approximately 99.3% of the units sold in this offering were purchased by the Anchor Investors.

Note 3 — Initial Public Offering

Restatement of Previously Issued Condensed Carve-out Consolidated Financial Statements

9 Months Ended

Dec. 31, 2023

Restatement of Previously Issued Condensed Carve-out Consolidated Financial Statements

Note 3 – Restatement of Previously Issued Condensed Carve-out Consolidated Financial Statements

In connection with the preparation of the Company’s previously issued unaudited condensed carve-out consolidated financial statements as of and for the nine months ended December 31, 2022, the Company’s management identified certain errors as described below:

(a)

Accounting for deferred transaction cost in relation to reverse recapitalization.

(b)

an overstatement of the net income attributable to Aark Singapore Pte. Ltd., an understatement of net income attributable to noncontrolling interest

The Company’s condensed consolidated carve-out financial information for the nine months ended December 31, 2022, published as a part of its registration statement on Form S-4 dated May 12, 2023, has been restated in accordance with ASC 250, Accounting Changes and Error Corrections. The impact of these restatements on Loss Per Share has not been provided given that the Company has disclosed the same only for the period from the Closing Date to December 31, 2023 as set out in Note 15.

(a)

Accounting for deferred transaction cost in relation to reverse recapitalization

The Company had previously not recognized certain expenses pertaining to Business Combination incurred till period ended December 31, 2022. This resulted in understatement of the Selling, general and administrative expenses and overstatement of net income. Further, certain transaction costs were identified as costs eligible for deferral under staff accounting bulletin (“SAB”) topic 5.A to be subsequently charged off against the gross proceeds of the Business Combination. This resulted in overstatement of Selling, general and administrative expenses and understatement of net income.

On an aggregate basis both these adjustments resulted in overstatement of Selling, general and administrative expenses and understatement of net income. The resultant change is reflected in the following table, which summarizes the effect of the restatement on the affected financial statement line within the previously reported unaudited condensed consolidated carve-out financial information for the nine months ended December 31, 2022.


Particulars	As Previously Reported December 31, 2022		Restatement Adjustment			As Restated December 31, 2022
Selling, general and administrative expenses		8,202		(304	)		7,898
Total operating expenses		8,202		(304	)		7,898
Income from operations		1,140		304			1,444
Income before income taxes		1,667		304			1,971
Net income		517		304			821
Less: Net income attributable to noncontrolling interest⁽¹⁾		69		56			125
Net income attributable to controlling interest		448		248			696

(1)

The change in net income attributable to noncontrolling interest comprises of two impacts i.e., consequential impact on account of the change in accounting for transaction costs as set out above and change in the percentage attributable to noncontrolling interest based on the note discussed below.

Pursuant to the above, the deferred transaction cost recognised within current assets increased by $1,022. Finally, the consequential impact of this was recognised within cash flow from operating activity comprising of an increase in net income reported for the nine months period ended December 31, 2022 by $304 with a corresponding reduction in the changes in operating assets and liabilities.

(b)

an overstatement of the net income attributable to Aark Singapore Pte. Ltd., an understatement of net income attributable to noncontrolling interest

The Company previously considered treasury shares of its subsidiary, in the calculation of the Company’s controlling shareholding and corresponding noncontrolling interest. However, it was subsequently determined that as these shares are not issued yet and available for issuance, they should be excluded from the calculations of share count for accounting purposes. The change resulted in a decrease in the allocation of net income to Aark Singapore Pte. Ltd. and a corresponding increase in the allocation of net income to noncontrolling interest. This resultant change is reflected in the following tables, which summarize the effect of the restatement on the affected financial statement line items within the previously reported unaudited condensed consolidated carve-out financial information for the nine months ended December 31, 2022.

Particulars

As Previously

Reported

December 31,
2022

Restatement

Adjustment

As Restated

December 31,
2022

In the Statement of Operations

Net income attributable to noncontrolling interest

Nature of Operations (Tables)

9 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of consummation of Business Combination


Public Shareholders (Redeemable Class A ordinary shares), including Bonus Shares⁽¹⁾			3,157,469
Shares held by Worldwide Webb Acquisition Sponsor, LLC (the “Sponsor”) and other initial holders⁽²⁾⁽³⁾			2,750,000
Shares held by Innovo Consultancy DMCC⁽⁴⁾			5,638,530
Shares held by FPA Holders⁽⁵⁾			3,711,667
Total⁽⁶⁾			15,257,666

(1)

Includes 87,133 Bonus Shares issued to the Company’s public shareholders and 1,024,335 “Extension Shares” issued to certain holders of Class A ordinary shares (the “Holders”) in accordance with the Non-Redemption Agreement entered into between WWAC, the Sponsor, and the Holders of Class A ordinary shares. Also includes 288,333 shares purchased by the Forward Purchase Agreement holders in the open market or via redemption reversals prior to the consummation of the Business Combination.

(2)

Includes 1,500,000 Class A ordinary shares issued to the Sponsor and 1,250,000 Class A ordinary shares issued to certain anchor investors upon conversion of Class B ordinary shares concurrently with the consummation of the Business Combination. 3,000,000 Class B ordinary shares were forfeited by the Sponsor upon the consummation of the Business Combination.

(3)

Does not include (i) 1,500,000 Class B ordinary shares forfeited upon the consummation of the Business Combination, or (ii) 1,500,000 Class B ordinary shares forfeited pursuant to a Support Agreement with the Sponsor.

(4)

Includes (i) 3,000,000 Class A Shares reissued against 3,000,000 Class B Shares forfeited by the Sponsor upon consummation of the Business Combination as per (2) above, and (ii) 2,638,530 remaining Bonus Shares issued to Innovo.

(5)

Represents a new issuance of Class A ordinary shares to the Forward Purchase Agreement holders in accordance with the Forward Purchase Agreement.

(6)

Does not include 10,000 AARK ordinary shares and 655,788 Aeries Technology Group Business Accelerators Private Limited’s ordinary shares that represent noncontrolling interest in AARK. These shares will be exchangeable (together with the proportionate reduction in the voting power of the Class V Share, and in the case of the exchange of all AARK ordinary shares, the forfeiture and cancellation of the Class V Share) into shares in Aeries Technology, Inc. in connection with the Exchange Agreements, which is further discussed in Note 11.

Schedule of reconciles of business combination


Schedule of cash and net liabilities assumed pursuant to Business Combination	Amount
Balance in Company trust account		40,402
Less: Outflow on account of redemption payments		(18,795	)
Less: Prepayment for recycle share under forward purchase agreement		(3,083	)
Less: Payments under Non-redemption agreements		(9,672	)
Less: Payment to Continental Stock Transfer for services provided in relation to the Business Combination		(186	)
Net cash acquired in Business Combination		8,666
Less: Assumed net liabilities of ATI on Closing Date⁽¹⁾		(38,994	)
Less: Pre-combination transaction costs		(3,697	)
Less: Transferred to Redeemable Noncontrolling Interest (“NCI”) pursuant to Business Combination		(4,465	)
Less: Par value of Class A ordinary shares issued		(2	)
Net charge to Additional paid-in-capital as a result of the Business Combination reported in Shareholders’ equity (deficit)		(38,492	)

(1)

Includes liability pursuant to warrants and Forward Purchase Agreement. Refer Note 14 for details

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Jun. 14, 2023	Apr. 14, 2023	Apr. 02, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 02, 2022	Dec. 31, 2021
Temporary equity, Redemption price per share		$ 10.57					$ 10.20		$ 10.10
Preferred stock, Par or stated value per share	$ 0.0001	$ 0.0001				$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, Shares authorized	5,000,000	5,000,000				5,000,000	5,000,000		5,000,000
Preferred stock, Shares issued	0	0				0	0		0
Preferred stock, Shares outstanding	0	0				0	0		0
Common stock, Par or stated value per share	$ 0					$ 0
Common stock, Shares issued	0				10,000	10,000		10,000
Common stock, Shares outstanding	0		10			10,000
Common Class A [Member]
Class A ordinary shares redemption per share		$ 0.0001					$ 0.0001		$ 0.0001
Temporary equity, Shares outstanding	4,000,000	4,718,054		4,718,054			23,000,000		23,000,000
Temporary equity, Redemption price per share				$ 10.36
Common stock, Par or stated value per share	$ 0.0001	$ 0.0001					$ 0.0001		$ 0.0001
Common stock, Shares authorized	500,000,000	500,000,000					500,000,000		500,000,000
Common stock, Shares issued	15,619,004	0					0		0
Common stock, Shares outstanding	15,619,004	0					0		0
Common Class B [Member]
Common stock, Par or stated value per share		$ 0.0001					$ 0.0001		$ 0.0001
Common stock, Shares authorized		50,000,000					50,000,000		50,000,000
Common stock, Shares issued		5,750,000					5,750,000		5,750,000
Common stock, Shares outstanding		5,750,000					5,750,000		5,750,000

Fair Value Measurements

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 14 - Fair Value Measurements

As of December 31, 2023, the Company had financial instruments which were measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Significant changes in the inputs could result in a significant change in the fair value measurements. See each respective footnote for information on the assumptions used in calculating the fair value of financial instruments.

The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of December 31, 2023 and March 31, 2023, including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.

Summary of Liabilities Measured at Fair Value on a Recurring Basis


December 31, 2023	Level 1		Level 2		Level 3		Total
Liabilities:
Forward Purchase Agreement put option liability	$	-	$	-	$	42,256	$	42,256
Public Warrants		1,048		-		-	$	1,048
Private Placement Warrants		-		-		869	$	869
Total liabilities	$	1,048	$	-	$	43,125	$	44,173

March 31, 2023

Level 1

Level 2

Level 3

Total

Liabilities:

Forward Purchase Agreement put option liability

Public Warrants

Private Placement Warrants

Total liabilities

The initial fair value of the FPA put option liability at the Closing Date was $25,009, which is reported as a forward purchase agreement put option liability in our condensed consolidated balance sheet. The change in the fair value of the forward purchase agreement put option liability of $17,247 has been recorded to change in fair value of forward purchase agreement put option liability for the three and nine months ended December 31, 2023, in the Company’s condensed consolidated statements of operations. The forward purchase agreement put option liability was classified as a current liability, as its liquidation is reasonably expected to use or require current assets or the creation of current liabilities. See also Notes 2 and 13. The estimated fair value of the forward purchase agreement put option liability was calculated using a Monte Carlo model and used significant assumptions including the risk-free rate and volatility. The change in fair value of the forward purchase agreement put option liability is primarily driven by a decrease in the price per share of the Company.

The valuation of the forward purchase agreement put option liability was made using the following assumptions as of December 31, 2023:


Term (years)		0.85
Risk-free interest rate		4.93	%
Volatility		48.6	%
Stock price at measurement date	$	2.50

Given that the Public Warrants have a listed price available, the Company classified them as Level 1. The Company has classified the privately placed warrants within Level 3 of the hierarchy as the fair value derived using the Black-Scholes option pricing model, which uses a combination of observable (Level 2) and unobservable (Level 3) inputs. There were no transfers between fair value levels during the three and nine months ended December 31, 2023.

The valuation of the liability for the Private Placement Warrants was made using the following assumptions as of December 31, 2023:


Term (years)		4.85
Risk-free interest rate		3.85	%
Volatility		38.2	%
Stock price at measurement date	$	2.50

The following table presents a summary of the changes in the fair value of Derivative Liabilities:


	Forward Purchase Agreement Put Option Liability		Public Warrant Liability			Private Placement Liability			Total
Fair value at April 1, 2023	$	-	$	-		$	-		$	-
Warrants and Forward Purchase Agreement put option liability acquired as part of Business Combination as at November 6, 2023		25,009		1,513			1,256			27,778
Change in fair value (gain) / loss		17,247		(465	)		(387	)		16,395
Fair value as of December 31, 2023	$	42,256	$	1,048		$	869		$	44,173

Based on the expected VWAP as at inception as well as December 31, 2023 it is not expected that ATI would be required to issue additional Class A ordinary shares to certain vendors. On this basis, Fair value of the derivative financial instrument representing ATI’s obligation to issue additional Class A ordinary shares has been determined to be insignificant on initial recognition as well as at December 31, 2023 and accordingly the quantitative disclosures in relation to the fair value have not been provided.

Note 8 - Fair Value Measurements

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022 including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.


	Description	Level	Fair Value
September 30, 2023	Marketable securities	1	$	49,992,699
December 31, 2022	Marketable securities	1	$	234,716,046

The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022, including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.


September 30, 2023	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	564,650	$	-	$	-	$	564,650
Private Placement Warrants		-		436,990		-		436,990
Total liabilities	$	564,650	$	436,990	$	-	$	1,001,640

December 31, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	346,150	$	-	$	-	$	346,150
Private Placement Warrants		-		267,890		-		267,890
Total liabilities	$	346,150	$	267,890	$	-	$	614,040

On December 9, 2021, the Public Warrants surpassed the 52-day threshold waiting period to be publicly traded in accordance with the Prospectus filed October 21, 2021. Once publicly traded, the observable input qualifies the liability for treatment as a Level 1 liability. As such, as of September 30, 2023 and December 31, 2022, the Company classified the Public Warrants as Level 1. The Private Warrants were valued based on the trading price of Public Warrants, which is considered to be a Level 2 fair value measurement. To estimate the value of the Private Placement Warrants, the Company used the public trading price of the Public Warrants. This value was adjusted to reflect the value of the issuer call provision of the Public Warrants, as this right is not applicable to the Private Placement Warrants unless they are sold by the initial holders. There were no transfers between fair value levels during the three and nine months ended September 30, 2023.

The following table presents a summary of the changes in the fair value of Derivative Warrant Liabilities:


	Public Warrant Liability		Public Warrant Liability		Total
Fair value at January 1, 2023	$	346,150	$	267,890	$	614,040
Change in fair value (loss)		218,500		169,100		387,600
Fair value as of September 30, 2023	$	564,650	$	436,990	$	1,001,640

Note 8 — Fair Value Measurements

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2022 and 2021 including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.


	Description	Level	Fair Value
December 31, 2022	Marketable securities	1	$	234,716,046
December 31, 2021	Marketable securities	1	$	232,320,844

The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value.


December 31, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	346,150	$	-	$	-	$	346,150
Private Placement Warrants		-		267,890		-		267,890
Total liabilities	$	346,150	$	267,890	$	-	$	614,040

December 31, 2021	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	6,900,000	$	-	$	-	$	6,900,000
Private Placement Warrants		-		5,340,000		-		5,340,000
Total liabilities	$	6,900,000	$	5,340,000	$	-	$	12,240,000

On December 9, 2021, the Public Warrants surpassed the 52-day threshold waiting period to be publicly traded in accordance with the Prospectus filed October 21, 2021. Once publicly traded, the observable input qualifies the liability for treatment as a Level 1 liability. As such, as of December 31, 2022 and 2021, the Company classified the Public Warrants as Level 1. The Private Warrants were valued based on the trading price of Public Warrants, which is considered to be a Level 2 fair value measurement. To estimate the value of the Private Placement Warrants, the Company used the public trading price of the Public Warrants. This value was adjusted to reflect the value of the issuer call provision of the Public Warrants, as this right is not applicable to the Private Placement Warrants unless they are sold by the initial holders. Besides the transfers of the Public Warrant from Level 3 to Level 1 and Private Warrant from Level 3 to Level 2 for reasons described above, there are no other transfers in and out of level 3 from the Initial Public Offering date through December 31, 2022.

The following table presents a summary of the changes in the fair value of Derivative Warrant Liabilities:


	Public			Private
	Warrant			Warrant
	Liability			Liability			Total
Fair value at October 22, 2021	$	5,030,000		$	4,024,000		$	9,054,000
Change in fair value		1,870,000			1,316,000			3,186,000
Fair value as of December 31, 2021		6,900,000			5,340,000			12,240,000
Change in fair value		(6,553,850	)		(5,072,110	)		(11,625,960	)
Fair value as of December 31, 2022	$	346,150		$	267,890		$	614,040

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Commitments and contingencies (Note 11)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 6,543,000		$ 1,131,000
Accounts receivable, net of allowance of $1,233 and $0, as of December 31, 2023 and March 31, 2023, respectively	18,152,000		13,416,000
Prepaid expenses and other current assets, net of allowance of $6 and $0, as of December 31, 2023 and March 31, 2023, respectively	7,302,000		4,117,000
Deferred transaction costs			1,921,000
Total current assets	31,997,000	$ 49,094	20,585,000	$ 360,774	$ 903,277
Property and equipment, net	3,538,000		3,125,000
Operating right-of-use assets	6,320,000		5,627,000
Deferred tax assets	1,484,000		1,237,000
Long-term investments, net of allowance of $129 and $0, as of December 31, 2023 and March 31, 2023, respectively	1,558,000		1,564,000
Other assets, net of allowance of $1 and $0, as of December 31, 2023 and March 31, 2023, respectively	1,812,000		2,259,000
Total Assets	46,709,000	50,041,793	34,397,000	235,076,820	233,526,968
Current liabilities:
Accounts payable	7,771,000		2,474,000
Accrued compensation and related benefits, current	2,782,000		2,823,000
Operating lease liabilities, current	1,861,000		1,648,000
Short-term borrowings	6,238,000		1,376,000
Forward purchase agreement put option liability	42,256,000
Other current liabilities	7,210,000		4,201,000
Total current liabilities	68,118,000	9,386,482	12,522,000	4,010,139	391,582
Long term debt	1,141,000		969,000
Operating lease liabilities, noncurrent	4,825,000		4,261,000
Derivative warrant liabilities	1,917,000
Deferred tax liabilities	114,000		168,000
Other liabilities	3,923,000		3,008,000
Total liabilities	80,038,000	10,388,122	20,928,000	4,967,616	21,025,019
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest	9,743,000
Shareholders’ equity (deficit)
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding
Common Stock, Value, Issued
Net shareholders’ investment and additional paid-in capital			7,221,000
Accumulated other comprehensive loss	(578,000)		(1,349,000)
(Accumulated deficit) retained earnings	(42,496,000)		6,318,000
Total Aeries Technology, Inc. shareholders’ equity (deficit)	(43,072,000)		12,190,000
Noncontrolling interest			1,279,000
Total shareholders’ equity (deficit)	(43,072,000)	16,077,000	13,469,000	11,302,000
Total Liabilities, Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit	46,709,000	50,041,793	34,397,000	235,076,820	233,526,968
Common Class A [Member]
Shareholders’ equity (deficit)
Common Stock, Value, Issued	2,000
Common Class V [Member]
Shareholders’ equity (deficit)
Common Stock, Value, Issued

Description of Organization, Business Operations, and Going Concern (Details Narrative) - USD ($)		1 Months Ended			9 Months Ended		10 Months Ended	12 Months Ended
	Nov. 15, 2021	Aug. 16, 2022	Nov. 15, 2021	Oct. 22, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023
Stock issued during period, Shares					200,000
proceeds from initial public offering									$ 230,000,000
Class of warrant or right issued during period, Warrants						20,400,000		20,400,000
Proceeds from Issuance of Private Placement							$ 8,900,000
Offering Costs				$ 21,834,402
Deferred Underwriting Fees Payable Non Current	$ 8,050,000		$ 8,050,000	8,050,000
Underwriting fees				4,600,000
Other Offering Costs				9,184,402
Offering Costs on Founder Shares Offered to Anchor Investors				$ 8,306,250			8,306,250
Investment of cash in Trust Account			$ 232,300,000				232,300,000
Common stock, Par or stated value per share					$ 0					$ 0
Period within which business combination shall be consummated from the closing of initial public offer						24 months
Liquidation basis of accounting, Accrued costs to dispose of assets and liabilities						$ 100,000		100,000
Cash						8,412	$ 503,204	48,126	$ 503,204
Net working capital						$ 9,337,388		$ 3,649,365
On Or After First January Two Thousand And Twenty Three [Member] \| Inflation Reduction Act Of Two Thousand And Twenty Two [Member]
Percentage of excise tax on certain repurchases of stock at market value		1.00%
Minimum [Member]
Prospective assets of acquiree as a percentage of fair value of assets in the trust account						80.00%		80.00%
Common Class A [Member]
Common stock, Par or stated value per share					$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common Class A [Member] \| Public Share [Member]
Common stock, Par or stated value per share						$ 0.0001		$ 0.0001
Percentage of Redemption of Common Stock						100.00%		100.00%
Period within which business combination shall be consummated from the closing of initial public offer						30 months		18 months
Private Placement Warrants [Member]
Class of warrant or right issued during period, Warrants			900,000	8,000,000		8,900,000		8,900,000
Class of warrant or right issued during period, Warrants, Price per warrant			$ 1.00	$ 1.00
Proceeds from Issuance of Private Placement			$ 900,000	$ 8,000,000
IPO [Member]
Stock issued during period, Shares				20,000,000
Shares issued, Price per share				$ 10.00
proceeds from initial public offering				$ 200,000,000
Over-Allotment Option [Member]
Stock issued during period, Shares	3,000,000		3,000,000
Public Warrants [Member]
Stock issued during period, Shares	1,500,000		1,500,000
Shares issued, Price per share	$ 10.00		$ 10.00
Proceeds from Issuance of Warrants	$ 30,000,000		$ 30,000,000

Commitments and Contingencies

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Commitments and Contingencies

Note 11 - Commitments and Contingencies

Corporate Guarantees

The Company has an outstanding guarantee of nil and INR 200,000 (approximately $2,433 at the exchange rate in effect on March 31, 2023) as of December 31, 2023 and March 31, 2023, respectively, which pertains to a fund-based and non-fund based revolving credit facility availed by an affiliate, Bhanix Finance and Investment Ltd (“the borrower”), from Kotak Mahindra Bank. The corporate guarantee requires the Company to make payment in the event the borrower fails to perform any of its obligations under the credit facilities. The guarantee was withdrawn with effect from June 1, 2023, and the bank communicated the withdrawal on August 23, 2023. Subsequent to the withdrawal, the amount for expected credit loss recognized were reversed in entirety. Pursuant to the arrangement, beginning April 1, 2021, the Company charged a fee of 0.5% of the guarantee outstanding. In the nine months ended December 31, 2023 and 2022, the Company recorded a guarantee fee income of $2 and $9 within “Other income, net” in the condensed consolidated statements of operations.

Indemnification obligations

In the normal course of business, the Company is a party to a variety of agreements under which it may be obligated to indemnify the other party for certain matters. These obligations typically arise in contracts where the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations or covenants for certain matters, infringement of third-party intellectual property rights, data privacy violations, and certain tortious conduct in the course of providing services. The duration of these indemnifications varies, and in certain cases, is indefinite.

The Company is unable to reasonably estimate the maximum potential amount of future payments under these or similar agreements due to the unique facts and circumstances of each agreement and the fact that certain indemnifications provide for no limitation to the maximum potential future payments under the indemnification. Management is not aware of any such matters that would have a material effect on the condensed consolidated financial statements of the Company.

Legal Proceedings

From time to time, the Company may be involved in proceedings and litigation, claims and other legal matters arising in the ordinary course of business. Some of these claims, lawsuits, and other proceedings may involve highly complex issues that are subject to substantial uncertainties, and could result in damages, fines, penalties, nonmonetary sanctions, or relief. Management is not currently aware of any matters that are reasonably likely to have a material adverse impact on the Company’s business, financial position, results of operations, or cash flows.

Exchange Agreements

Upon consummation of the Business Combination, the holders of AARK ordinary shares and Aeries Technology Group Business Accelerators Pvt Ltd. (“ATGBA”) ordinary shares each entered into the Exchange Agreements. Pursuant to the Exchange Agreements, from and after the date of the Exchange Agreements and prior to April 1, 2024 and subject to certain exercise conditions, each holder of AARK ordinary shares and ATGBA ordinary shares may exchange up to 20% of the number of AARK ordinary shares and ATGBA ordinary shares, as applicable, held by such holder for Class A ordinary shares of the Company or cash, in each case as provided in the Exchange Agreements. From and after April 1, 2024 and subject to certain exercise conditions, the Company shall have the right to acquire all of the AARK or ATGBA ordinary Share for Class A ordinary shares or Cash. In addition, after April 01, 2024 and subject to certain exercise condition, each shareholder of ATGBA and AARK ordinary shares shall have the right to require the Company to provide Class A ordinary shares or cash in exchange for up to all of the AARK or ATGBA ordinary share. Each share of AARK may be exchanged for 2,246 Class A ordinary shares the Company and each ATGBA ordinary share may be exchanged for 14.40 Class A ordinary shares of the Company, in each case subject to certain adjustments. The cash exchange payment may only be elected in the event approval from the Reserve Bank of India (“RBI”) is not obtained for exchange of shares and provided that the Company has reasonable cash flow to be able to pay the cash exchange payment and such payment would not be prohibited by any then outstanding debt agreements or arrangements of the Company.

Class A ordinary shares issuance to certain vendors

As set out in the section on Derivative Financial Instruments and FPA Put Option Liability under Note 2, in December 2023 ATI settled the amounts owed to certain vendors by issuance of Class A ordinary shares. If the VWAP of the Class A ordinary shares over the three trading days immediately preceding the agreement date is higher than the VWAP over the three trading days immediately preceding the six-month anniversary from the agreement date, ATI would need to issue additional Class A ordinary shares for the difference. This represents a derivative financial instrument, fair value of which as at December 31, 2023 has been assessed to be insignificant. Refer Note 14 for details on Fair Value Measurements.

Note 5 - Commitments and Contingencies

Registration Rights

The holders of Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans, if any (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of the Working Capital Loans), will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to the consummation of the Proposed Public Offering. These holders will be entitled to certain demand and “piggyback” registration rights. However, the registration rights agreement will provide that we will not be required to effect or permit any registration or cause any registration statement to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Administrative Support Agreement

Commencing on the date that the Company’s securities were first listed on the NASDAQ, the Company agreed to pay the Sponsor or an affiliate thereof in an amount equal to $10,000 per month for office space, utilities and secretarial and administrative support made available to the Company, up to a maximum of $160,000. The Company recorded an aggregate of $0 and $20,000 for the three and nine months ended September 30, 2023, respectively, in general and administrative expenses in connection with the related agreement in the accompanying statement of operations. The Company ceased paying these monthly fees in February 2023, as the $160,000 threshold was met in this month.

The warrant agreement provides that the terms of the warrants may be amended without the consent of any shareholder or warrant holder to cure any ambiguity or correct any defective provision but requires the approval by the holders of at least a majority of the then outstanding Public Warrants to make any change that adversely affects the interests of the registered holders of Public Warrants. Accordingly, the Company may amend the terms of the Public Warrants in a manner adverse to a holder of Public Warrants if holders of at least a majority of the then outstanding Public Warrants approve of such amendment. Although the Company’s ability to amend the terms of the Public Warrants with the consent of at least a majority 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 or shares, shorten the exercise period or decrease the number of Class A ordinary shares purchasable upon exercise of a warrant.

Underwriting Agreement

The Company paid an underwriting discount of 2.0% of the per Unit offering price to the Underwriter at the closing of the Initial Public Offering, with an additional fee of 3.5% of the gross offering proceeds payable only upon the Company’s completion of its Initial Business Combination (the “Deferred Discount”). The Deferred Discount of $8,050,000 would become payable to the Underwriter from the amounts held in the Trust Account solely in the event the Company completes its Initial Business Combination unless the Underwriter waives their right to the underwriting fees.

The Company granted the Underwriter a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions. The underwriter exercised their over-allotment option in full on November 11, 2021, and the closing of the issuance and sale of the additional 3,000,000 units (the “Over-Allotment Units”) occurred on November 15, 2021. In connection with the over-allotment exercise, the Company issued 3,000,000 Over-Allotment Units, representing 3,000,000 Ordinary Shares and 1,500,000 Public Warrants at a price of $10.00 per Unit, generating total gross proceeds of $30,000,000.

Effective as of September 30, 2022, the underwriters from the Initial Public Offering resigned and withdrew from their role in the Business Combination and thereby waived their entitlement to the deferred underwriting fees of $8,050,000, which the Company has recorded as a gain on settlement of underwriter fees on the statements of shareholders’ deficit for the year ended December 31, 2022 for $7,847,542, which represents the original amount recorded to accumulated deficit, and the remaining balance of $202,548 representing the amount recorded to the statements of operations for the year ended December 31, 2022. Based on this arrangement, the Company is no longer obligated to pay the underwriter if the Company merges with a Target in the future.

Note 5 — Commitments and Contingencies

Registration Rights

Administrative Support Agreement

Commencing on the date that the Company’s securities were first listed on the NASDAQ, the Company agreed to pay the Sponsor or an affiliate thereof in an amount equal to $10,000 per month for office space, utilities and secretarial and administrative support made available to the Company. The Company recorded an aggregate of $120,000 for the year ended December 31, 2022, in general and administrative expenses in connection with the related agreement in the accompanying statement of operations. Upon completion of the Initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees.

Warrant amendments

The warrant agreement provides that the terms of the warrants may be amended without the consent of any shareholder or warrant holder to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least a majority of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public warrants. Accordingly, the Company may amend the terms of the public warrants in a manner adverse to a holder of public warrants if holders of at least a majority of the then outstanding public warrants approve of such amendment. Although the Company’s ability to amend the terms of the public warrants with the consent of at least a majority 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 or shares, shorten the exercise period or decrease the number of Class A ordinary shares purchasable upon exercise of a warrant.

Underwriting Agreement

The Company paid an underwriting discount of 2.0% of the per Unit offering price to the Underwriter at the closing of the Initial Public Offering, with an additional fee of 3.5% of the gross offering proceeds payable only upon the Company’s completion of its Initial Business Combination (the “Deferred Discount”). The Deferred Discount of $8,050,000 will become payable to the Underwriter from the amounts held in the Trust Account solely in the event the Company completes its Initial Business Combination.

The Company granted the Underwriter a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions. The underwriter exercised their over-allotment option in full on November 11, 2021, and the closing of the issuance and sale of the additional 3,000,000 units (the “Over-Allotment Units”) occurred on November 15, 2021. In connection with the over-allotment exercise, the Company issued 3,000,000 Over-Allotment Units, representing 3,000,000 Ordinary Shares and 1,500,000 public warrants at a price of $10.00 per Unit, generating total gross proceeds of $30,000,000.

Stock-Based Compensation (Details) - E S O P Stock Option [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding, beginning \| shares	59,900
Options outstanding weighted average exercise price, beginning \| $ / shares
Aggregate intrinsic value, beginning
Options granted \| shares
Options granted weighted average exercise price \| $ / shares
Aggregate intrinsic value, granted
Options exercised
Options exercised weighted average exercise price \| $ / shares
Aggregate intrinsic value, exercised
Options canceled, forfeited or expired \| shares
Options canceled, forfeited or expired weighted average exercise price \| $ / shares
Aggregate intrinsic value, canceled, forfeited or expired
Options outstanding, ending \| shares	59,900
Options outstanding weighted average exercise price, ending \| $ / shares	$ 0.12
Weighted average remaining contractual term	4 years 6 months 21 days
Aggregate intrinsic value, ending	$ 4,739
Vested and exercisable \| shares	59,900
Vested and exercisable weighted average exercise price \| $ / shares	$ 0.12
Weighted average remaining contractual term, vested and exercisable	4 years 6 months 21 days
Aggregate intrinsic value, Vested and exercisable	$ 4,739

Long-term debt

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term debt

Note 5 - Long-term debt

Long-term debt consists of the following:

Schedule of Long-term debt
	December 31, 2023		March 31, 2023
Loan from the director of ATGBA	$	836	$	845
Loan from an affiliate		193		-
Non-current portion of vehicle loan		112		124
	$	1,141	$	969

For additional information on the loan from the director of ATGBA, Mr. Vaibhav Rao, to a subsidiary company and loan from an affiliate, see Note 9 – Related Party Transactions - point (g) and (d), respectively.

Vehicle loan

On December 7, 2022, the Company entered into a vehicle loan, secured by the vehicle, for INR 11,450 (or approximately $138 at the exchange rate in effect on December 31, 2023) at 10.75% from Mercedes-Benz Financial Services India Pvt. Ltd. The Company is required to repay the loan in 48 monthly instalments beginning January 4, 2023.

As of December 31, 2023, the future maturities of debt by fiscal year are as follows:

Schedule of future maturities of debt
2024	$	3
2025		850
2026		15
2027		286
Total future maturities of debt	$	1,154

Commitments and Contingencies (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended				9 Months Ended				12 Months Ended	22 Months Ended
	Nov. 15, 2021	Nov. 15, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Feb. 28, 2023	Dec. 07, 2022
Loss Contingencies [Line Items]
Related party transaction administrative service fee payable maximum threshold limit				$ 160,000				$ 160,000						$ 160,000
Selling general And administrative expense			$ 5,313,000		$ 2,025,000		$ 12,321,000		$ 7,898,000
Deferred underwriting fee percent on gross proceeds of the IPO								0.035			0.035
Deferred Underwriting Discount				8,050,000	$ 8,050,000			$ 8,050,000	8,050,000		$ 8,050,000	$ 8,050,000
Overallotment option vesting period								45 days			45 days
Proceeds from the sale of Class A ordinary shares, shares							200,000
Deferred underwriting fees, Waived										$ 8,050,000
Gain on settlement of underwriting fees											$ 202,548
Remaining balance after accumulated deficit											202,548
Exchange rate													$ 2,433,000		$ 138,000
Other income, net							$ 2,000		$ 9,000
Retained Earnings [Member]
Loss Contingencies [Line Items]
Adjustment to Retained Earnings, Gain on settlement of underwriting fees											$ 7,847,542
Over-Allotment Option [Member]
Loss Contingencies [Line Items]
Proceeds from the sale of Class A ordinary shares, shares	3,000,000	3,000,000
Public Warrants [Member]
Loss Contingencies [Line Items]
Proceeds from the sale of Class A ordinary shares, shares	1,500,000	1,500,000
Shares Issued, Price Per Share	$ 10.00	$ 10.00
Proceeds from Issuance of Warrants	$ 30,000,000	$ 30,000,000
Maximum [Member] \| Over-Allotment Option [Member]
Loss Contingencies [Line Items]
Proceeds from the sale of Class A ordinary shares, shares								3,000,000			3,000,000
Common Class A [Member]
Loss Contingencies [Line Items]
Class Of Warrant Or Right, Exercise Price Adjustment Percentage Higher Of Market Value								2.00%			2.00%
Administrative Service Fee [Member]
Loss Contingencies [Line Items]
Selling general And administrative expense												$ 20,000
Administrative Service Fee [Member] \| Related Party [Member]
Loss Contingencies [Line Items]
Operating costs and expenses								$ 10,000			$ 10,000
Selling general And administrative expense				$ 0		$ 300,000,000		$ 20,000		$ 900,000,000	$ 120,000

Statements of Changes in Temporary Equity and Shareholders' Deficit - USD ($)	Temporary Equity Class A [Member]	Ordinary Class B Shares [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 03, 2021
Balance at the beginning (Shares) at Mar. 03, 2021
Issuance of ordinary shares to Sponsor		$ 575	24,425		25,000
Issuance of ordinary shares to Sponsor, shares		5,750,000
Proceeds from the sale of Class A ordinary shares	$ 230,000,000
Proceeds from the sale of Class A ordinary shares, shares	23,000,000
Paid underwriters fees	$ (4,600,000)
Deferred underwriting fees payable	(8,050,000)
Liabilities associated to Public Warrants	(5,784,500)
Excess fair value over consideration of the founder shares offered to the anchor investors	(8,306,250)			8,306,250	8,306,250
Other offering costs	(878,152)
Excess cash received over fair value of Private Placement Warrants			4,423,300		4,423,300
Gain on settlement of underwriting fees
Remeasurement of Class A ordinary shares to redemption value	29,918,902		(4,447,725)	(25,471,177)	(29,918,902)
Net loss				(2,633,699)	(2,633,699)
Ending balance, value at Dec. 31, 2021	$ 232,300,000	$ 575		(19,798,626)	(19,798,051)
Balance at the end (Shares) at Dec. 31, 2021	23,000,000	5,750,000
Net loss				3,799,755	3,799,755
Ending balance, value at Mar. 31, 2022	$ 232,300,000	$ 575		(15,998,871)	(15,998,296)
Balance at the end (Shares) at Mar. 31, 2022	23,000,000	5,750,000
Beginning balance, value at Dec. 31, 2021	$ 232,300,000	$ 575		(19,798,626)	(19,798,051)
Balance at the beginning (Shares) at Dec. 31, 2021	23,000,000	5,750,000
Gain on settlement of underwriting fees				7,847,542	7,847,542
Remeasurement of Class A ordinary shares to redemption value	2,316,046			(2,316,046)	(2,316,046)
Net loss				9,759,713	9,759,713
Ending balance, value at Dec. 31, 2022	$ 234,616,046	$ 575		(4,507,417)	(4,506,842)
Balance at the end (Shares) at Dec. 31, 2022	23,000,000	5,750,000
Beginning balance, value at Mar. 31, 2022	$ 232,300,000	$ 575		(15,998,871)	(15,998,296)
Balance at the beginning (Shares) at Mar. 31, 2022	23,000,000	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 85,071			(85,071)	(85,071)
Net loss				6,174,392	6,174,392
Ending balance, value at Jun. 30, 2022	$ 232,385,071	$ 575		(9,909,550)	(9,908,975)
Balance at the end (Shares) at Jun. 30, 2022	23,000,000	5,750,000
Gain on settlement of underwriting fees				7,847,542	7,847,542
Remeasurement of Class A ordinary shares to redemption value	957,118			(957,118)	(957,118)
Net loss				(348,075)	(348,075)
Ending balance, value at Sep. 30, 2022	$ 233,342,189	$ 575		(3,367,201)	(3,366,626)
Balance at the end (Shares) at Sep. 30, 2022	23,000,000	5,750,000
Beginning balance, value at Dec. 31, 2022	$ 234,616,046	$ 575		(4,507,417)	(4,506,842)
Balance at the beginning (Shares) at Dec. 31, 2022	23,000,000	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 2,369,220			(2,369,220)	(2,369,220)
Net loss				(1,532,112)	(1,532,112)
Ending balance, value at Mar. 31, 2023	$ 236,985,266	$ 575		(8,408,749)	(8,408,174)
Balance at the end (Shares) at Mar. 31, 2023	23,000,000	5,750,000
Beginning balance, value at Dec. 31, 2022	$ 234,616,046	$ 575		(4,507,417)	(4,506,842)
Balance at the beginning (Shares) at Dec. 31, 2022	23,000,000	5,750,000
Ending balance, value at Sep. 30, 2023	$ 49,892,699	$ 575		(10,239,603)	(10,239,028)
Balance at the end (Shares) at Sep. 30, 2023	4,718,054	5,750,000
Beginning balance, value at Mar. 31, 2023	$ 236,985,266	$ 575		(8,408,749)	(8,408,174)
Balance at the beginning (Shares) at Mar. 31, 2023	23,000,000	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 1,711,537			(1,711,537)	(1,711,537)
Net loss				2,033,037	2,033,037
Ending balance, value at Jun. 30, 2023	$ 49,262,200	$ 575		(8,087,249)	(8,086,674)
Balance at the end (Shares) at Jun. 30, 2023	4,718,054	5,750,000
Beginning balance, value at Mar. 31, 2023	$ 236,985,266	$ 575		(8,408,749)	$ (8,408,174)
Balance at the beginning (Shares) at Mar. 31, 2023	23,000,000	5,750,000
Proceeds from the sale of Class A ordinary shares, shares					200,000
Beginning balance, value at Jun. 30, 2023	$ 49,262,200	$ 575		(8,087,249)	$ (8,086,674)
Balance at the beginning (Shares) at Jun. 30, 2023	4,718,054	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 630,499			(630,499)	(630,499)
Net loss				(1,521,855)	(1,521,855)
Ending balance, value at Sep. 30, 2023	$ 49,892,699	$ 575		$ (10,239,603)	$ (10,239,028)
Balance at the end (Shares) at Sep. 30, 2023	4,718,054	5,750,000

Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash	$ 8,412	$ 48,126	$ 503,204
Prepaid expenses	39,845	304,314	400,073
Other current assets	837	8,334
Total current assets	49,094	360,774	903,277
Marketable securities held in Trust Account	49,992,699	234,716,046	232,320,844
Other assets			302,847
Total Assets	50,041,793	235,076,820	233,526,968
Current liabilities:
Accounts payable	6,351,857	676,652	2,810
Promissory note - related party	557,810	200,000	208,461
Accrued professional services fees	2,414,548	3,091,220	168,810
Accrued expenses	62,267	42,267	11,501
Total current liabilities	9,386,482	4,010,139	391,582
Deferred underwriting fees payable			8,050,000
Derivative warrant liabilities	1,001,640	614,040	12,240,000
Deferred legal fees		343,437	343,437
Total liabilities	10,388,122	4,967,616	21,025,019
Class A ordinary shares subject to possible redemption, $0.0001 par value; 23,000,000 shares at $10.20 and 10.10 per share at December 31, 2022 and 2021, respectively	49,892,699	234,616,046	232,300,000
Shareholders’ deficit
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding
Additional paid-in capital
Accumulated deficit		(4,507,417)	(19,798,626)
Total shareholders’ deficit	(10,239,028)	(4,506,842)	(19,798,051)
Total Liabilities, Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit	50,041,793	235,076,820	233,526,968
Common Class A [Member]
Shareholders’ deficit
Common Stock, Value, Issued
Common Class B [Member]
Shareholders’ deficit
Common Stock, Value, Issued	$ 575	$ 575	$ 575

Long-term Debt (Details 1) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 3
2025	850
2026	15
2027	286
Total future maturities of debt	$ 1,154

Employee Compensation and Benefits

9 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Compensation and Benefits

Note 7 - Employee Compensation and Benefits

The Company has employee benefit plans in the form of certain statutory and other programs covering its employees.

Defined Benefit Plan - Gratuity

The Company’s subsidiaries in India have defined benefit plans comprising of gratuity under Payments of Gratuity Act, 1972 covering eligible employees in India. The present value of the defined benefit obligations and other long-term employee benefits is determined based on actuarial valuation using the projected unit credit method. The rate used to discount defined benefit obligation is determined by reference to market yields at the balance sheet date on Indian government bonds for the estimated term of obligations.

Actuarial gains or losses arising on account of experience adjustment and the effect of changes in actuarial assumptions are initially recognized in the condensed consolidated statements of comprehensive income, and the unrecognized actuarial loss is amortized to the condensed consolidated statements of operations over the average remaining service period of the active employees expected to receive benefits under the plan.

Changes in “Other comprehensive income/ (loss)” during the three and nine months ended December 31, 2023 and 2022 were as follows:

Schedule of Other comprehensive loss
	Three Months Ended December 31,						Nine Months Ended December 31,
	2023			2022			2023			2022
Net actuarial loss / (gain)	$	(14	)	$	(86	)	$	100		$	(51	)
Amortization of net actuarial (gain)		(21	)		(15	)		(64	)		(47	)
Deferred tax expense / (benefit)		9			25			(9	)		25
Unrecognized actuarial loss / (gain) on employee benefit plan obligations	$	(26	)	$	(76	)	$	27		$	(73	)

Net defined benefit plan costs for the three and nine months ended December 31, 2023 and 2022 include the following components:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Service costs	$	112	$	83	$	338	$	255
Interest costs		24		13		74		39
Amortization of net actuarial loss		21		15		64		47
Net defined benefit plan costs	$	157	$	111	$	476	$	341

Fair Value Measurements (Details 1) - USD ($)	9 Months Ended
Fair Value Measurements (Details 1) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		$ 1,001,640		$ 614,040	$ 12,240,000
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 44,173,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		564,650		346,150	6,900,000
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1,048,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		436,990		267,890	5,340,000
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	43,125,000
Public Warrants [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1,048,000	564,650		346,150	6,900,000
Public Warrants [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1,048,000	564,650		346,150	6,900,000
Public Warrants [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Public Warrants [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Private Placement Warrants [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	869,000	436,990		267,890	5,340,000
Private Placement Warrants [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Private Placement Warrants [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		436,990		267,890	5,340,000
Private Placement Warrants [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 869,000
Forward Purchase Agreement Put Option Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term	10 months 6 days
Risk-free interest rate	4.93%
Volatility	48.60%
Stock price at measurement date	$ 2.50
Forward Purchase Agreement Put Option Liability [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 42,256,000
Forward Purchase Agreement Put Option Liability [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Forward Purchase Agreement Put Option Liability [Member] \| Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Forward Purchase Agreement Put Option Liability [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 42,256,000

CONDENSED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash	$ 8,412	$ 48,126
Prepaid expenses	39,845	304,314
Other current assets	837	8,334
Total current assets	49,094	360,774
Marketable securities held in Trust Account	49,992,699	234,716,046
Total Assets	50,041,793	235,076,820
Current liabilities:
Accounts payable	6,351,857	676,652
Promissory note - related party	557,810	200,000
Accrued professional services fees	2,414,548	3,091,220
Accrued expenses	62,267	42,267
Total current liabilities	9,386,482	4,010,139
Derivative warrant liabilities	1,001,640	614,040
Deferred legal fees		343,437
Total liabilities	10,388,122	4,967,616
Class A ordinary shares subject to possible redemption, $0.0001 par value; 4,718,054 and 23,000,000 shares at $10.57 and $10.20 per share at September 30, 2023 and December 31, 2022, respectively	49,892,699	234,616,046
Shareholders’ deficit
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding
Additional paid-in capital
Accumulated deficit	(10,239,603)	(4,507,417)
Total shareholders’ deficit	(10,239,028)	(4,506,842)
Total Liabilities, Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit	50,041,793	235,076,820
Common Class A [Member]
Shareholders’ deficit
Common Stock, Value, Issued
Common Class B [Member]
Shareholders’ deficit
Common Stock, Value, Issued	$ 575	$ 575

Summary of Significant Accounting Policies (Details 2) $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($)
Product Information [Line Items]
Opening balance as of March 31, 2023	$ 0
Closing balance as of December 31, 2023	1,233
Long Term Investment [Member]
Product Information [Line Items]
Opening balance as of March 31, 2023
Transition period adjustment on long term investments (through retained earnings) pursuant to ASC 326	126
Adjusted balance as of April 1, 2023	126
Additions charged to change in provision for credit losses	3
Closing balance as of December 31, 2023	$ 129

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
General and administrative expenses	$ 1,597,474	$ 1,444,411	$ 5,344,586	$ 2,101,731
Loss from operations	(1,597,474)	(1,444,411)	(5,344,586)	(2,101,731)
Change in fair value of derivative warrant liabilities	(554,880)	(63,240)	(387,600)	10,404,000
Gain on marketable securities, dividends and interest, held in Trust Account	630,499	957,118	4,711,256	1,121,345
Gain on settlement of underwriting fees		202,458		202,458
Net (loss) income	(1,521,855)	(348,075)	(1,020,930)	9,626,072
Common Class A [Member]
Net (loss) income	$ (685,915)	$ (278,460)	$ (682,886)	$ 7,700,858
Weighted average shares outstanding of Class B non-redeemable ordinary shares, basic	4,718,054	23,000,000	11,615,638	23,000,000
Weighted average shares outstanding of Class B non-redeemable ordinary shares, diluted	4,718,054	23,000,000	11,615,638	23,000,000
Basic net income (loss) per share, Class B non-redeemable ordinary shares	$ (0.15)	$ (0.01)	$ (0.06)	$ 0.33
Diluted net income (loss) per share, Class B non-redeemable ordinary shares	$ (0.15)	$ (0.01)	$ (0.06)	$ 0.33
Common Class B [Member]
Net (loss) income	$ (835,940)	$ (69,615)	$ (338,044)	$ 1,925,214
Weighted average shares outstanding of Class B non-redeemable ordinary shares, basic	5,750,000	5,750,000	5,750,000	5,750,000
Weighted average shares outstanding of Class B non-redeemable ordinary shares, diluted	5,750,000	5,750,000	5,750,000	5,750,000
Basic net income (loss) per share, Class B non-redeemable ordinary shares	$ (0.15)	$ (0.01)	$ (0.06)	$ 0.33
Diluted net income (loss) per share, Class B non-redeemable ordinary shares	$ (0.15)	$ (0.01)	$ (0.06)	$ 0.33

Summary of Significant Accounting Policies (Details 1) - USD ($)

3 Months Ended

9 Months Ended

10 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2023

Sep. 30, 2023

Sep. 30, 2022

Dec. 31, 2021

Dec. 31, 2022

Net (loss) income attributable to parent

$ (1,521,855)

$ (348,075)

$ (1,020,930)

$ 9,626,072

$ (2,633,699)

$ 9,759,713

Net (loss) income per share, basic

^[1]

$ (1.08)

Net (loss) income per share, diluted

^[1]

$ (1.08)

Opening balance as of March 31, 2023

$ 0

Closing balance as of December 31, 2023

$ 1,233,000

1,233,000

Accounts Receivable [Member]

Opening balance as of March 31, 2023

Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326

149,000

Adjusted balance as of April 1, 2023

149,000

Additions charged to cost and expense

1,084,000

Closing balance as of December 31, 2023

$ 1,233,000

Common Class A [Member]

Net (loss) income attributable to parent

$ (685,915)

$ (278,460)

$ (682,886)

$ 7,700,858

$ (1,322,260)

$ 7,807,770

Weighted average shares outstanding , basic

4,718,054

23,000,000

11,615,638

23,000,000

5,158,940

23,000,000

Weighted average shares outstanding , diluted

4,718,054

23,000,000

11,615,638

23,000,000

5,158,940

23,000,000

Net (loss) income per share, basic

$ (0.15)

$ (0.01)

$ (0.06)

$ 0.33

$ (0.26)

$ 0.34

Net (loss) income per share, diluted

$ (0.15)

$ (0.01)

$ (0.06)

$ 0.33

$ (0.26)

$ 0.34

Common Class B [Member]

Net (loss) income attributable to parent

$ (835,940)

$ (69,615)

$ (338,044)

$ 1,925,214

$ (1,311,439)

$ 1,951,943

Weighted average shares outstanding , basic

5,750,000

5,116,722

5,750,000

Weighted average shares outstanding , diluted

5,750,000

5,116,722

5,750,000

Net (loss) income per share, basic

$ (0.15)

$ (0.01)

$ (0.06)

$ 0.33

$ (0.26)

$ 0.34

Net (loss) income per share, diluted

$ (0.15)

$ (0.01)

$ (0.06)

$ 0.33

$ (0.26)

$ 0.34

[1]

Summary of Significant Accounting Policies

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Basis of Preparation

The Company’s accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our condensed consolidated balance sheets, operating results, statement of changes in redeemable noncontrolling interest and stockholders’ equity (deficit), and cash flows for the periods presented. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with US GAAP have been omitted in accordance with the rules and regulations of the SEC. The interim results for the three and nine months ended December 31, 2023 are not necessarily indicative of the results to be expected for the year ending March 31, 2024 or for any future interim periods.

The condensed consolidated balance sheet as of March 31, 2023 included herein was derived from the audited consolidated carve-out financial statements (restated) of Aark Singapore Pte Ltd. and its subsidiaries as of that date. As such, the information included herein should be read in conjunction with the consolidated carve-out financial statements and accompanying notes of AARK as of and for the year ended March 31, 2023, filed as an exhibit to Amendment No. 2 to Current Report on Form 8-K originally filed on November 13, 2023 as amended on November 30, 2023 and December 13, 2023, which provides a more complete discussion of the Company’s accounting policies and certain other information. There have been no changes in accounting policies during the nine months ended December 31, 2023 from those disclosed in the annual consolidated carve-out financial statements and related notes for the year ended March 31, 2023, except for those described below and also as described in “Recently Adopted Accounting Pronouncements” below.

All intercompany balances and transactions have been eliminated in consolidation.

Periods prior to demerger transactions

These condensed consolidated financial statements were extracted from the accounting records of AARK on a carve-out basis prior to May 24, 2023, including interim period ended December 31, 2022, i.e., these condensed consolidated financial statements exclude the financial results of the fintech and investing businesses that are unrelated to the merger with ATI pursuant to the Merger Agreement. The condensed consolidated financial statements have been derived from the historical accounting records of Aark Singapore Pte. Ltd., Aeries Technology Group Business Accelerators Pvt Ltd., its subsidiaries (“ATGBA”) and controlled trust. Only those assets and liabilities that are specifically identifiable to the management consultancy business activities are included in the Company’s condensed consolidated balance sheets. The Company’s condensed consolidated statements of operations and comprehensive income consist of all the revenue and expenses of the management consultancy business activities, excluding allocations of certain expenses of the excluded fintech and investing business activities. These allocations were based on methodologies that management believes to be reasonable; however, amounts derecognized by the Carve-out Entity are not necessarily representative of the amounts that would have been reflected in the condensed consolidated financial statements had the excluded businesses operated independently of the Carve-out Entity.

The condensed consolidated financial statements for the period prior to the Demerger Transactions exclude the following: (a) cash and cash equivalents that were utilized solely to fund activities undertaken by the investing business of AARK, (b) long-term debt and related interest payable/expense that were solely related to financing of the fintech and investing businesses, (c) amounts due from related parties related to the fintech and investing businesses, (d) investments made by the investing business, (e) trade and other receivables of the fintech business, and (f) revenue, cost of sales, other income, advisory fees, bank charges and withholding taxes attributable to the fintech and investing businesses and allocations of certain expenses of the excluded businesses; these allocations were based on methodologies that management believes to be reasonable; however, amounts derecognized by AARK are not necessarily representative of the amounts that would have been reflected in the condensed consolidated financial statements had the excluded businesses operated independently of AARK.

Differences between allocations in the condensed consolidated statements of operations and condensed consolidated balance sheets are reflected in equity as a part of “Net shareholders’ investment and additional paid-in-capital” in the condensed consolidated financial statements.

Non-controlling interests represent the equity interest not owned by the Company and are recorded for condensed consolidated entities in which the Company owns less than 100% of the interests. Changes in a parent’s ownership interest while the parent retains its controlling interest are accounted for as equity transactions.

Periods after the Demerger Transactions

Beginning May 25, 2023 and for the interim period ended December 31, 2023, following the demerger of the fintech and investing businesses, the condensed consolidated financial statements of ATI have been prepared from the financial records of Aark Singapore Pte. Ltd., Aeries Technology Group Business Accelerators Pvt Ltd., its subsidiaries (“ATGBA”) and controlled trust on a condensed consolidated basis.

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 auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

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 an emerging growth 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 standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s condensed consolidated 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.

Going Concern

The accompanying unaudited condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The going concern basis of presentation assumes that the Company will continue in operation one year after the date these financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business.

For the nine and three months ended December 31, 2023, the Company has reported a net loss. The shareholders’ equity as at December 31, 2023 also has a deficit of $43,072. These factors may raise a substantial doubt regarding the Company’s ability to continue as a going concern for at least 12 months from the date when these financial statements are available to be filed with the SEC. As at December 31, 2023 the Company had a balance of $6,543 in cash and cash equivalents and also generated positive cash flows for the nine months ended December 31, 2023.

The Company has historically financed its operations and expansions with cash generated from operations, a revolving credit facility from Kotak Mahindra Bank, and loans from related parties. Management expects to have sufficient cash from the operations, cash reserves and debt capacity for the next 12 months and for the foreseeable future to finance our operations, our growth, expansion plans.

These financial statements have been prepared on a going concern basis, which assumes that the Company will continue to operate for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business.

Use of Estimates

The preparation of condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, revenue recognition, allowance for credit losses, stock-based compensation, fair valuation of Forward Purchase Agreement (“FPA”) put option liabilities and private warrant liabilities, useful lives of property and equipment, accounting for income taxes, determination of incremental borrowing rates used for operating lease liabilities and right-of-use assets, obligations related to employee benefits and carve-out of financial statements, including the allocation of assets, liabilities and expenses. Management believes that the estimates and judgments upon which it relies, are reasonable based upon information available to the Company at the time that these estimates and judgments were made. Actual results could differ from those estimates.

Segment Reporting

The Company operates as one operating segment. The Company’s chief operating decision maker is its chief executive officer, who reviews financial information presented on a consolidated basis for the purposes of making operating decisions, assessing financial performance and allocating resources.

Forward Purchase Agreement

On November 3, 2023, and November 5, 2023, WWAC entered into Forward Purchase Agreements (the “FPAs”) with Sandia Investment Management LP, Sea Otter Trading, LLC, YA II PN, Ltd and Meteora Capital Partners, LP (collectively known as “FPA holders”) for an over-the-counter (“OTC”) Equity Prepaid Forward Transaction. A Subscription Agreement (the “Subscription Agreement”) was also executed alongside the FPA for subscription of the underlying FPA shares by the FPA holders either through a new issuance or purchase of shares from existing holders (“Recycled Shares”). The FPAs and Subscription Agreements have been accounted for separately as discussed subsequently.

The FPAs stipulate a new issuance of 3,711,667 Class A ordinary shares to the FPA holders at the redemption price (i.e., $10.69 per share) and, purchase of 288,333 Recycled Shares through redemption reversals. The amount to be received by ATI from the FPA holders on such issuance of around 3,711,667, shares, are held with the FPA holders as prepaid with respect to the forward transaction. Pursuant to the FPA, ATI was obligated to pay a prepayment amount of $42,760 which was settled as below:

	●	$39,678 against the consideration receivable by ATI for a new issuance of class A ordinary shares to the FPA holders; and

●

$3,083 representing the cash paid by ATI to the FPA holders to fund the purchase price of the Recycled Shares.

At the end of the contract period of one year, for each unsold share held by the FPA holders, ATI is obligated to pay FPA holders an amount of $2 in cash or a variable number of ATI’s Class A ordinary shares in order to provide a return of $2.5 per FPA share determined based on the 30-day volume weighted average price of ATI’s Class A ordinary shares (“Maturity Consideration”). The FPA holders have the option to select the form of Maturity Consideration.

The Optional Termination Right held by the FPA holders economically results in the prepaid forward contract being akin to a written put option with the Purchaser’s right to sell all or a portion of the 4,000,000 common shares to ATI. ATI is entitled over the 12-month maturity period to either a return of the prepayment or the underlying shares, which the FPA holders will determine at their sole discretion depending on the movement in ATI’s stock price.

The FPAs consist of two freestanding financial instruments that are accounted for as follows:

The total prepayment of $42,760 (“Prepayment Amount”) which includes a net cash outflow of $3,083 as discussed above. The Prepayment Amount has been accounted for as a reduction to equity to reflect the substance of the overall arrangement as a net repurchase of the Recycled Shares and sale of newly issued shares to the FPA holders pursuant to a subscription agreement without receipt of the underlying consideration of $39,678.

The “FPA Put Option” includes both the in-substance written put option and the expected Maturity Consideration. The FPA Put Option is a derivative instrument that the Company has recorded as a liability and measured at fair value in accordance with ASC 480-10. The instrument is subject to remeasurement at each balance sheet date, with changes in fair value recognized in the condensed consolidated statements of operations. The initial fair value of the FPA put option liability at the Closing Date was $25,009, and the fair value as on December 31, 2023 was $42,256, which is reported as a FPA put option liability in our condensed consolidated balance sheet. The change in the fair value of the FPA put option liability of $17,247 for the three and nine months ended December 31, 2023 has been recorded to change in fair value of forward purchase agreement put option liability in the Company’s condensed consolidated statements of operations. See Note 14.

Derivative Financial Instruments and FPA Put Option Liability

The Company accounts for the Warrants (defined below) in accordance with the guidance contained in ASC 815-40 under which the Instruments (as defined below) do not meet the criteria for equity treatment and must be recorded as liabilities. The Company accounts for the FPA put option liability as a financial liability in accordance with the guidance in ASC 480-10. Warrants and FPA are collectively referred as the “Instruments”. The Instruments are subjected to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations. See Note 12 for further discussion of the pertinent terms of the Warrants and Note 14 for further discussion of the methodology used to determine the value of the Warrants and FPA.

In December 2023, the Company settled vendor balances mounting to $ 855 owed to certain vendors by issuing 361,388 Class A ordinary shares. If the volume weighted average price (“VWAP”) of the Class A ordinary shares over the three trading days immediately preceding the agreement date is higher than the VWAP over the three trading days immediately preceding the six-month anniversary from the agreement date, additional Class A ordinary shares of ATI would need to be issued for the difference. This represents a derivative financial instrument written by the Company which has been accounted for in accordance with the guidance contained in ASC 815-40 including subsequent re-measurement at fair value with the changes being recognized in Company’s condensed consolidated statement of operations.

For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value at inception and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the condensed consolidated balance sheets as current or noncurrent based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. Assets and liabilities recorded at fair value in the condensed consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value.

Hierarchical levels which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows:

Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Level 2 – Inputs that are observable, either directly or indirectly. Such prices may be based upon quoted prices for identical or comparable securities in active markets or inputs not quoted on active markets but corroborated by market data.

Level 3 – Unobservable inputs that are supported by little or no market activity and reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Fair Value of Financial Instruments

Except for the Warrants and FPA as described above, the fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (the “FASB”) ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the condensed consolidated balance sheets.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents, accounts receivable, loans to affiliates, and investments. The Company holds cash at financial institutions that the Company believes are high credit quality financial institutions and limits the amount of credit exposure with any one bank and conducts ongoing evaluations of the creditworthiness of the banks with which it does business. As of December 31, 2023 and March 31, 2023, there were one and four customers, respectively, that represented 10% or greater of the Company’s accounts receivable balance. The Company expects limited credit risk arising from its long-term investments as these primarily entail investments in the Company’s affiliates that have a credit rating that is above the minimum allowable credit rating defined in the Company’s investment policy. As a part of its risk management process, the Company limits its credit risk with respect to long-term investments by performing periodic evaluations of the credit standing of counterparties to its investments.

In respect of the Company’s revenue, there were three and four customers that each accounted for more than 10% of total revenue for the nine months ended December 31, 2023 and 2022, respectively; and there were two and five customers that accounted for more than 10% of total revenue for the three months ended December 31, 2023 and 2022, respectively. The following table shows the amount of revenue derived from each customer exceeding 10% of the Company’s revenue during the three and nine months ended December 31, 2023 and 2022:


	Three Months Ended December 31,						Nine Months Ended December 31,
	2023			2022			2023			2022
Customer 1		13.9	%		16.2	%		14.4	%		16.5	%
Customer 2		12.9	%		15.6	%		12.7	%		15.4	%
Customer 3		n/a			14.7	%		10.3	%		12.8	%
Customer 4		n/a			10.0	%		n/a			10.1	%
Customer 5		n/a			10.0	%		n/a			n/a

Accounts receivable, net

The Company records a receivable when an unconditional right to consideration exists, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of invoicing to customers. If revenue recognized on a contract exceeds the billings, then the Company records an unbilled receivable for that excess amount, which is included as part of accounts receivable, net in the Company’s condensed consolidated balance sheets.

Prior to the Company’s adoption of ASU 2016-13, Topic 326 Financial Instruments – Credit Losses (“Topic 326”), the accounts receivable balance was reduced by an allowance for doubtful accounts that was determined based on the Company’s assessment of the collectability of customer accounts. Under Topic 326, accounts receivable are recorded at the invoiced amount, net of allowance for credit losses. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. Allowance for credit losses was $1,233 as of December 31, 2023 and allowance for doubtful accounts was $0 as of March 31, 2023, and is classified within “Accounts Receivable, net” in the condensed consolidated balance sheets. See “Recent accounting pronouncements adopted” section below for information pertaining to the adoption of Topic 326.

The following tables provides details of the Company’s allowance for credit losses:

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326		149
Adjusted balance as of April 1, 2023	$	149
Additions charged to cost and expense		1,084
Closing balance as of December 31, 2023	$	1,233

Long-Term Investments

The Company’s long-term investments consist of debt and non-marketable equity investments in privately held companies in which the Company does not have a controlling interest or significant influence, which have maturities in excess of one year and the Company does not intend to sell.

Debt investments of mandatorily redeemable preference shares, which are classified as held-to-maturity since the Company has the intent and contractual ability to hold these securities to maturity. These investments are reported at amortized cost and are subject to an ongoing impairment evaluation. Income from these investments is recorded in “Interest income” in the condensed consolidated statements of operations.

Under Topic 326, expected credit losses are recorded and reduced from the amortized cost of the held-to-maturity securities. Expected credit losses for long-term investments are calculated using a probability of default method. Credit losses are recorded within “Selling, general & administrative expenses” in the condensed consolidated statements of operations when an event or circumstance indicates a decline in value has occurred. Allowance for credit losses was $129 as of December 31, 2023. See “Recent accounting pronouncements adopted” section below for information pertaining to the adoption of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.

The following tables provides details of the Company’s allowance for credit losses:

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on long term investments (through retained earnings) pursuant to ASC 326		126
Adjusted balance as of April 1, 2023	$	126
Additions charged to change in provision for credit losses		3
Closing balance as of December 31, 2023	$	129

The Company includes these long-term investments in “Long-term investments” on the condensed consolidated balance sheets.

Net Loss per Share

Basic net loss per share is computed by dividing income/(loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed using the weighted-average number of common and potential dilutive common shares outstanding during the period. The Company has not considered the effect of the Warrants sold in its initial public offering (the “Initial Public Offering”) and private placement to purchase ATI ordinary shares, and impact of FPA put option liability in the calculation of diluted net loss per share, since the instruments are not dilutive.

Recent Accounting Pronouncements Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments. Topic 326 requires measurement and recognition of expected credit losses for financial assets measured at amortized cost as well as certain off balance sheet commitments (loan commitments, standby letters of credit, financial guarantees, and other similar instruments). The Company had an off-balance sheet guarantee at the April 1, 2023 adoption date (see Note 11 – Commitment and Contingencies). The expected credit loss for this guarantee was estimated using the probability of default method. The Company adopted ASU 2016-13 on April 1, 2023 using a modified retrospective approach. Results for reporting periods beginning April 1, 2023 are presented under Accounting Standards Codification (“ASC”) 326 while prior period amounts continue to be reported in accordance with previously applicable US GAAP.

The adoption of ASU 2016-13 resulted in an after-tax cumulative-effect reduction to opening retained earnings and noncontrolling interest of $223 as of April 1, 2023. The following table summarizes the impact of the Company’s adoption of ASU 2016-13:


	As Reported March 31, 2023		Impact of Adoption			Balance as of April 1, 2023
Accumulated retained earnings (deficit)		6,318		(190	)		6,128
Noncontrolling interests		1,279		(33	)		1,246
Accounts receivable, net		13,416		(149	)		13,267
Prepaid expenses and other current assets		4,117		-			4,117
Other current liabilities		4,201		21			4,222
Other assets		2,259		(1	)		2,258
Long-term investments		1,564		(126	)		1,438
Deferred tax asset		1,237		75			1,312

Expense related to credit losses is classified within “Selling, general & administrative expenses” in the condensed consolidated statements of operations.

Recent Accounting Pronouncements not yet Adopted

In August 2020, the FASB issued a new standard (ASU 2020-06) to reduce the complexity of accounting for convertible debt and other equity-linked instruments. For certain convertible debt instruments with a cash conversion feature, the changes are a trade-off between simplifications in the accounting model (no separation of an “equity” component to impute a market interest rate, and simpler analysis of embedded equity features) and a potentially adverse impact to diluted EPS by requiring the use of the if-converted method. The new standard will also impact other financial instruments commonly issued by both public and private companies. For example, the separation model for beneficial conversion features is eliminated simplifying the analysis for issuers of convertible debt and convertible preferred stock. Also, certain specific requirements to achieve equity classification and/ or qualify for the derivative scope exception for contracts indexed to an entity’s own equity are removed, enabling more freestanding instruments and embedded features to avoid mark-to-market accounting. The new standard is effective for companies that are SEC filers (except for Smaller Reporting Companies) for fiscal years beginning after December 31, 2021 and interim periods within that year, and two years later for other companies. Companies can early adopt the standard at the start of a fiscal year beginning after December 15, 2020. The standard can either be adopted on a modified retrospective or a full retrospective basis. The Company is currently reviewing the issued standard and does not believe it will materially impact the Company.

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification (the “Codification”). The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is in the process of evaluating the Impact of the amendments this ASU will have on the financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which requires public entities to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis. ASU 2023-09 is effective for the Company for the fiscal year ended March 31, 2025. The Company is currently evaluating the effect of the update.

Other recent pronouncements are either not applicable or are not expected to have a material impact on the Company’s condensed consolidated financial statements.

Note 2 - Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all the information and footnotes required by U.S. GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. The interim results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any future interim periods.

Emerging Growth Company

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 an emerging growth 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 standard 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 consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the 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 consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $8,412 and $48,126 in cash and no cash equivalents, outside of the funds held in the Trust Account, as of September 30, 2023 and December 31, 2022, respectively.

Derivative Financial Instruments

The Company accounts for the Warrants, Forward Purchase Agreement (as defined below), and Working Capital Loan conversion option (collectively, the “Instruments”) in accordance with the guidance contained in ASC 815-40 under which the Instruments do not meet the criteria for equity treatment and must be recorded as liabilities. The conversion feature within the Working Capital Loan gives the Sponsor an option to convert the loan to warrants of the Company’s Class A ordinary shares. This bifurcated feature is assessed at the end of each reporting period to conclude whether additional liability should be recorded. The Instruments are subjected to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s statement of operations. See Note 5 and 7 for further discussion of the pertinent terms of the Warrants and Forward Purchase Agreement and Note 8 for further discussion of the methodology used to determine the value of the Warrants, Forward Purchase Agreement, and Working Capital Loan conversion option.

Marketable Securities Held in Trust Account

At September 30, 2023 and December 31, 2022, the assets held in the Trust Account of $49,992,699 and $234,716,046, respectively, were invested in money market funds.

Class A Ordinary Shares Subject to Possible Redemption

All of the Class A ordinary shares sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation. In accordance with SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. Therefore, all Class A ordinary shares have been classified outside of permanent equity.

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit. The ordinary shares subject to possible redemption reflected on the condensed balance sheets as of September 30, 2023 and December 31, 2022 is reconciled in the following table:


Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046
Remeasurement of Class A ordinary shares to redemption value		4,711,256
Redemption of Class A ordinary shares		(189,434,603	)
Class A ordinary shares subject to possible redemption at September 30, 2023 (unaudited)	$	49,892,699

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At September 30, 2023 and December 31, 2022, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Fair Value of Financial Instruments

Except for the Warrant, Forward Purchase Agreement, and Working Capital Loan Liabilities as described above, the fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (the “FASB”) ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the condensed balance sheets.

Fair Value Measurements

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.

Level 2 - Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets of liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the condensed balance sheets as current or noncurrent based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Offering Costs

Offering costs consist of legal, accounting, underwriting and other costs incurred through the condensed balance sheet date that are directly related to the Initial Public Offering. Upon the completion of the Initial Public Offering, the offering costs were allocated using the relative fair values of the Company’s Class A ordinary shares and its Public Warrants and Private Placement Warrants. The costs allocated to warrants were recognized in other expenses and those related to the Company’s Class A ordinary shares were charged against the carrying value of Class A ordinary shares. The Company complies with the requirements of the ASC 340-10-S99-1.

Net Loss Per Share of Ordinary Shares

Net loss per share of ordinary shares is computed by dividing Net loss by the weighted average number of shares issued and outstanding during the period. The Company has not considered the effect of their Forward Purchase Agreement, warrants sold in the Initial Public Offering, private placement to purchase Class A ordinary shares, and Working Capital Loan warrants in the calculation of diluted loss per share, since the instruments are not dilutive.

For the three and nine months ended September 30, 2023, the inclusion of dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company is contingent on a future event. For the three and nine months ended September 30, 2022, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the periods presented.

The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares (the “Founder Shares”). Earnings is shared pro rata between the two classes of shares as long as an Initial Business Combination is the most likely outcome. Accretion associated with the redeemable Class A ordinary shares is excluded from income (loss) per share as the redemption value approximates fair value.

A reconciliation of net (loss) income per share is below:


	For The Three Months Ended September 30, 2023			For The Three Months Ended September 30, 2022			For The Nine Months Ended September 30, 2023			For The Nine Months Ended September 30, 2022
Redeemable Class A Ordinary Shares
Numerator: Net (loss) income allocable to Redeemable Class A Ordinary Shares
Net (loss) income allocable to Redeemable Class A Ordinary Shares	$	(685,915	)	$	(278,460	)	$	(682,886	)	$	7,700,858
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares
Basic and diluted weighted average shares outstanding, Redeemable Class A		4,718,054			23,000,000			11,615,638			23,000,000
Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Non-Redeemable Class B Ordinary Shares
Numerator: Net (loss) income allocable to non-redeemable Class B Ordinary Shares
Net (loss) income allocable to non-redeemable Class B Ordinary Shares	$	(835,940	)	$	(69,615	)	$	(338,044	)	$	1,925,214
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000			5,750,000			5,750,000			5,750,000
Basic and diluted net (loss) income per share, Class B non-redeemable ordinary shares	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement 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. Deferred tax assets were deemed immaterial as of September 30, 2023 and December 31, 2022.

FASB 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. There were no unrecognized tax benefits as of September 30, 2023 and December 31, 2022. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of September 30, 2023 and December 31, 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. There is currently no taxation imposed on income by the Government of the Cayman Islands. Consequently, income taxes are not reflected in the Company’s financial statement.

Recent Accounting Pronouncements

The Company’s management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the accompanying financial statement.

Note 2 — Summary of Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Emerging Growth Company

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 an emerging growth 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 standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated 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

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $48,126 and $503,204 in cash and no cash equivalents, outside of the funds held in the Trust Account, as of December 31, 2022 and 2021, respectively.

Derivative Financial Instruments

Marketable Securities Held in Trust Account

At December 31, 2022 and 2021, the assets held in the Trust Account of $234,716,046 and $232,320,844, respectively, were invested in money market funds.

Class A Ordinary Shares Subject to Possible Redemption

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit. The ordinary shares subject to possible redemption reflected on the balance sheet as of December 31, 2022 and 2021 is reconciled in the following table:


Gross proceeds	$	230,000,000
Less:
Class A ordinary shares issuance costs		(21,834,402	)
Fair value of Public Warrants at issuance		(5,784,500	)
Plus:
Remeasurement of Class A ordinary shares to redemption value		29,918,902
Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2022 and 2021, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Financial Instruments

Fair Value Measurements

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or noncurrent based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Offering Costs

Offering costs consist of legal, accounting, underwriting and other costs incurred through the balance sheet date that are directly related to the Initial Public Offering. Upon the completion of the Initial Public Offering, the offering costs were allocated using the relative fair values of the Company’s Class A ordinary shares and its Public Warrants and Private Placement Warrants. The costs allocated to warrants were recognized in other expenses and those related to the Company’s Class A ordinary shares were charged against the carrying value of Class A ordinary shares. The Company complies with the requirements of the ASC 340-10-S99-1.

Earnings Per Share of Ordinary Shares

Earnings per share of ordinary shares is computed by dividing net earnings (or loss) by the weighted average number of shares issued and outstanding during the period. The Company has not considered the effect of their Forward Purchase Agreement, warrants sold in the Initial Public Offering, private placement to purchase Class A ordinary shares, and Working Capital Loan warrants in the calculation of diluted income per share, since the instruments are not dilutive.

For the year ended December 31, 2022, the inclusion of dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company is contingent on a future event. For the period from March 5, 2021 (inception) through December 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company as those would be antidilutive under the treasury stock method. As a result, diluted income (loss) per share is the same as basic income (loss) per share for the periods presented.

The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares (the “Founder Shares”). Earnings are shared pro rata between the two classes of shares as long as an Initial Business Combination is consummated. Accretion associated with the redeemable Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value.

A reconciliation of the earnings per share is below:

Schedule of income (loss) per share, basic and diluted
	For The Year Ended December 31, 2022		For the period from March 5, 2021 (Inception) through December 31, 2021
Redeemable Class A Ordinary Shares
Numerator: Net income (loss) allocable to Redeemable Class A Ordinary Shares	$	7,807,770	$	(1,322,260	)
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares		23,000,000		5,158,940
Basic and diluted net income (loss) per share, Redeemable Class A	$	0.34	$	(0.26	)

Non-Redeemable Class B Ordinary Shares
Numerator: Net income (loss) allocable to non-redeemable Class B Ordinary Shares	$	1,951,943	$	(1,311,439	)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000		5,116,722
Basic and diluted net income (loss) per share, non-redeemable ordinary shares	$	0.34	$	(0.26	)

Income Taxes

FASB 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. There were no unrecognized tax benefits as of December 31, 2022 and 2021. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of December 31, 2022 and 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. Consequently, income taxes are not reflected in the Company’s financial statement.

Recent Accounting Pronouncements

In August the FASB issued a new standard (ASU 2020-06) to reduce the complexity of accounting for convertible debt and other equity-linked instruments. For certain convertible debt instruments with a cash conversion feature, the changes are a trade-off between simplifications in the accounting model (no separation of an “equity” component to impute a market interest rate, and simpler analysis of embedded equity features) and a potentially adverse impact to diluted EPS by requiring the use of the if-converted method. The new standard will also impact other financial instruments commonly issued by both public and private companies. For example, the separation model for beneficial conversion features is eliminated simplifying the analysis for issuers of convertible debt and convertible preferred stock. Also, certain specific requirements to achieve equity classification and/ or qualify for the derivative scope exception for contracts indexed to an entity’s own equity are removed, enabling more freestanding instruments and embedded features to avoid mark-to-market accounting. The new standard is effective for companies that are SEC filers (except for Smaller Reporting Companies) for fiscal years beginning after December 15, 2022 and interim periods within that year, and two years later for other companies. Companies can early adopt the standard at the start of a fiscal year beginning after December 15, 2020. The standard can either be adopted on a modified retrospective or a full retrospective basis. The Company is currently reviewing the newly issued standard and does not believe it will materially impact the Company.

Long-term debt (Details Narrative) - USD ($) $ in Thousands			9 Months Ended	12 Months Ended
Long-term debt (Details Narrative) - USD ($) $ in Thousands	Dec. 07, 2023	Dec. 07, 2022	Dec. 31, 2023	Mar. 31, 2023
Debt Disclosure [Abstract]
Exchange rate		$ 138		$ 2,433
Interest rate		10.75%	0.80%	1.20%
Debt instrument term	48 months

Summary of Significant Accounting Policies (Details Narrative) - USD ($)

3 Months Ended

9 Months Ended

10 Months Ended

12 Months Ended

Nov. 05, 2023

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2022

Mar. 31, 2023

Cash paid

$ 8,412

$ 48,126

$ 8,412

$ 48,126

$ 503,204

$ 48,126

Cash equivalents

$ 6,543,000

Assets held in trust account non current

49,992,699

234,716,046

49,992,699

234,716,046

232,320,844

234,716,046

Cash, FDIC insured amount

250,000

Dilutive securities

Unrecognized tax benefits

Unrecognized tax benefits, Income tax penalties and interest accrued

Shareholders Equity Deficit

43,072,000

$ 43,072,000

Number of shares issued

200,000

Redemption shares

288,333

Prepayment Amount

$ 42,760,000

Number of share issued, value

Underlying consideration amount

39,678,000

Derivative liability

$ 1,001,640

$ 614,040

$ 1,001,640

614,040

$ 12,240,000

$ 614,040

Settlement of accounts payable through issuance of shares to vendors

$ 855,000

Allowance for credit losses

^[1]

15,257,666

$ 1,233,000

$ 0

Long-term investments, net of allowance

$ 129,000

Customer Three [Member]

14.70%

10.30%

12.80%

Customer Four [Member]

10.00%

10.10%

Customer Two [Member]

12.90%

15.60%

12.70%

15.40%

Customer Five [Member]

10.00%

Customer [Member]

Revenue Benchmark [Member] | Customer Three [Member]

10.00%

Revenue Benchmark [Member] | Customer Four [Member]

10.00%

Revenue Benchmark [Member] | Customer Two [Member]

10.00%

Revenue Benchmark [Member] | Customer Five [Member]

10.00%

10.00%

Common Stock [Member]

Forward Purchase Agreement [Member]

15,257,666

Cash paid

$ 3,083,000

Prepayment Amount

42,256,000

Derivative liability

25,009,000

Change in the fair value of derivative liability

17,247,000

Forward Purchase Agreement [Member] | Common Stock [Member]

Number of shares issued

4,000,000

Forward Purchase Agreement [Member] | A T I [Member]

Cash paid

2,000

Prepayment Amount

$ 42,760,000

Weighted average price

$ 2.5

Common Class A [Member]

Common Class A [Member] | Forward Purchase Agreement [Member]

361,388

Number of shares issued

3,711,667

Number of share issued, value

$ 39,678,000

[1]

Stock-Based Compensation (Details 1) $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
M S O P Stock Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding, beginning \| shares	295,565
Options outstanding weighted average exercise price, beginning \| $ / shares
Aggregate intrinsic value, beginning
Options granted \| shares
Options granted weighted average exercise price \| $ / shares
Aggregate intrinsic value, granted
Options exercised
Options exercised weighted average exercise price \| $ / shares
Aggregate intrinsic value, exercised
Options canceled, forfeited or expired weighted average exercise price \| $ / shares
Aggregate intrinsic value, canceled, forfeited or expired
Options outstanding, ending \| shares	295,565
Options outstanding weighted average exercise price, ending \| $ / shares	$ 0.12
Weighted average remaining contractual term	1 year 11 months 1 day
Aggregate intrinsic value, ending	$ 23,385
Vested and exercisable \| shares	295,565
Vested and exercisable weighted average exercise price \| $ / shares	$ 0.12
Weighted average remaining contractual term, vested and exercisable	1 year 11 months 1 day
Aggregate intrinsic value, Vested and exercisable	$ 23,385
E S O P Stock Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding, beginning \| shares	59,900
Options outstanding weighted average exercise price, beginning \| $ / shares
Aggregate intrinsic value, beginning
Options granted \| shares
Options granted weighted average exercise price \| $ / shares
Aggregate intrinsic value, granted
Options exercised
Options exercised weighted average exercise price \| $ / shares
Aggregate intrinsic value, exercised
Options canceled, forfeited or expired \| shares
Options canceled, forfeited or expired weighted average exercise price \| $ / shares
Aggregate intrinsic value, canceled, forfeited or expired
Options outstanding, ending \| shares	59,900
Options outstanding weighted average exercise price, ending \| $ / shares	$ 0.12
Weighted average remaining contractual term	4 years 6 months 21 days
Aggregate intrinsic value, ending	$ 4,739
Vested and exercisable \| shares	59,900
Vested and exercisable weighted average exercise price \| $ / shares	$ 0.12
Weighted average remaining contractual term, vested and exercisable	4 years 6 months 21 days
Aggregate intrinsic value, Vested and exercisable	$ 4,739

Statements of Operations - USD ($)	10 Months Ended	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2021	Dec. 31, 2022
Income Statement [Abstract]
Formation and operating costs	$ 279,246	$ 4,463,907
Loss from operations	(279,246)	(4,463,907)
Change in fair value of derivative warrant liabilities	(1,978,800)	11,625,960
Gain on marketable securities, dividends and interest, held in Trust Account	20,844	2,395,202
Transaction costs allocation to derivative warrant liabilities	(396,497)
Gain on settlement of underwriting fees		202,458
Net (loss) income	$ (2,633,699)	$ 9,759,713

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

9 Months Ended

Dec. 31, 2023

Nature of Operations

Note 1 – Nature of Operations

Aeries Technology, Inc. (formerly Worldwide Webb Acquisition Corp. (“WWAC”), formed in the Cayman Islands on March 5, 2021) and its subsidiaries, excluding the fintech and investing business activities, is herein referred to as the “Company”, “ATI”, the “registrant”, “us,” “we” and “our” in these condensed consolidated financial statements. Aark Singapore Pte. Ltd. and its subsidiaries (“AARK”), excluding the fintech and investing business activities, is herein referred to as the “Carve-out Entity”. The Company offers a range of management consultancy services for private equity sponsors and their portfolio companies with engagement models that are designed to provide a mix of deep vertical specialty, functional expertise, and digital systems and solutions to scale, optimize and transform a client’s business operations. The Company has subsidiaries in India, Mexico, Singapore and the United States.

Change in Fiscal Year

On November 6, 2023, the Company’s Board of Directors approved a change in the Company’s fiscal year end from December 31 to March 31. The Company’s current fiscal year will run from April 1, 2023 through March 31, 2024. Year-over-year quarterly financial data continues to be comparative to prior periods as the months that comprise each fiscal quarter in the new fiscal year are the same as those in the Company’s historical financial statements.

Demerger and Business Combination

On March 11, 2023, ATI entered into the Business Combination Agreement (the “Business Combination” or “Merger Agreement”), with WWAC Amalgamation Sub Pte. Ltd., a Singapore private company limited by shares and a direct wholly-owned subsidiary of ATI (“Amalgamation Sub”), and Aark Singapore Pte. Ltd. a Singapore private company limited by shares (“AARK”) (together with the Company, AARK, and Amalgamation Sub, the “Parties” and individually, a “Party”).

AARK was engaged in management consulting, fintech and investing business. However, only the management consulting business was subject to the Merger Agreement and therefore in connection with the Business Combination, AARK entered into a Demerger Agreement with Aarx Singapore Pte. Ltd. and their respective shareholders’ on March 25, 2023 to spin off the fintech business which was a part of AARK but not subject to the Merger Agreement. Subsequently, the AARK Board of Directors ratified two resolutions on May 24, 2023. These resolutions effectively spun off the investing business which was part of the Company but not subject to the Merger Agreement. These transactions will collectively be referred to as “Demerger Transactions”.

Pursuant to the Merger Agreement, all AARK ordinary shares that were issued and outstanding prior to the effective time of the transaction remained issued and outstanding following the transaction and continued to be held by the Sole Shareholder (as defined below) of AARK. The Company issued a Class V share to ‘NewGen Advisors and Consultants DWC-LLC’ (“NewGen”). NewGen is a business associate of Mr. Raman Kumar (“Sole Shareholder”). NewGen has agreed to hold the Class V share to protect the interest of the Sole Shareholder, in the event of certain events, including a hostile takeover or the appointment or removal of directors at ATI level. While the Class V share does not carry any direct economic rights, it does carry voting rights equal to 26% which will ratchet up to 51% voting rights upon occurrence of extraordinary events at the ATI level. All of the shares of Amalgamation Sub that were issued and outstanding as of the transaction date were converted into a number of newly issued AARK ordinary shares. In accordance with principles of Financial Accounting Standards Board’s Accounting Standards Codification Topic 805, Business Combinations (“ASC 805”) and based on the economic interest held by the shareholders post the transaction as well as the underlying rights, it was assessed that AARK is the accounting acquirer and ATI is the accounting acquiree. The Business Combination closed on November 6, 2023 (“Closing Date”) and resulted in ATI owning 38.24% of the issued and outstanding shares of AARK and the Sole Shareholder of AARK owning the balance 61.76%. Pursuant to the Business Combination, ATI has a right to appoint two out of the three directors on the Board of AARK and therefore has an ability to control the activities undertaken by AARK in ordinary course of business, resulting in AARK being classified as a subsidiary of ATI. Finally, the Business Combination has been accounted for as reverse recapitalization. Refer to the section “Reverse Recapitalization” below for details.

Reverse Recapitalization

As mentioned above – Demerger and Business Combination, the Business Combination was closed on November 6, 2023 and has been accounted for as a reverse recapitalization because AARK has been determined to be the accounting acquirer under ASC 805 based on the evaluation of the following facts and circumstances taken into consideration:

●

The Sole Shareholder, who controlled AARK prior to the Business Combination, will retain a majority of the outstanding shares of ATI after giving effect to the Exchange Agreements. The Exchange Agreements are further discussed in Note 11;

●

AARK has the ability to elect a majority of the members of ATI’s governing body;

●

AARK’s executive team makes up the executive team of ATI;

●

AARK represents an operating entity (group) with operating assets, revenues, and earnings significantly larger than WWAC.

Under a reverse recapitalization, while ATI was the legal acquirer, it has been treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of pre-combination AARK issuing stock for the net assets of ATI, accompanied by a recapitalization. The net assets of ATI have been stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination are those of pre-combination AARK and relate to the management consulting business.

Immediately following the Business Combination, there were 15,257,666 Class A ordinary shares outstanding with a par value of $0.0001. Additionally, there were 9,527,810 Private Placement Warrants (defined below) and 11,499,991 Public Warrants (defined below) outstanding with a right to purchase 21,027,801 Class A ordinary shares.

Upon closing of the Business Combination, the total number of ATI’s Class A ordinary shares issued and outstanding was 15,257,666. Further, certain Class A ordinary shareholders entered into non-redemption agreements executed on November 3, 2023 and November 5, 2023, to reverse redemptions for an aggregate of 1,652,892 Class A ordinary shares while waiving their right to receive any “Bonus Shares” issued under the Business Combination Agreement. In connection with the closing, holders of 2,697,052 Class A ordinary shares of ATI were redeemed at a price per share of approximately $10.69. AARK incurred approximately $3,697 in transaction costs relating to the Business Combination and recorded those costs against additional paid-in capital in the condensed consolidated balance sheet.

The number of Class A ordinary shares issued and outstanding immediately following the consummation of the Business Combination were:


Public Shareholders (Redeemable Class A ordinary shares), including Bonus Shares⁽¹⁾			3,157,469
Shares held by Worldwide Webb Acquisition Sponsor, LLC (the “Sponsor”) and other initial holders⁽²⁾⁽³⁾			2,750,000
Shares held by Innovo Consultancy DMCC⁽⁴⁾			5,638,530
Shares held by FPA Holders⁽⁵⁾			3,711,667
Total⁽⁶⁾			15,257,666

(1)

(2)

(3)

(4)

(5)

Represents a new issuance of Class A ordinary shares to the Forward Purchase Agreement holders in accordance with the Forward Purchase Agreement.

(6)

The following table reconciles the elements of the Business Combination to the change in Net shareholders’ investment and additional paid-in capital on the condensed consolidated statement of changes in redeemable noncontrolling interest and shareholders’ equity (deficit) for the nine months and three months ended December 31, 2023:


Schedule of cash and net liabilities assumed pursuant to Business Combination	Amount
Balance in Company trust account		40,402
Less: Outflow on account of redemption payments		(18,795	)
Less: Prepayment for recycle share under forward purchase agreement		(3,083	)
Less: Payments under Non-redemption agreements		(9,672	)
Less: Payment to Continental Stock Transfer for services provided in relation to the Business Combination		(186	)
Net cash acquired in Business Combination		8,666
Less: Assumed net liabilities of ATI on Closing Date⁽¹⁾		(38,994	)
Less: Pre-combination transaction costs		(3,697	)
Less: Transferred to Redeemable Noncontrolling Interest (“NCI”) pursuant to Business Combination		(4,465	)
Less: Par value of Class A ordinary shares issued		(2	)
Net charge to Additional paid-in-capital as a result of the Business Combination reported in Shareholders’ equity (deficit)		(38,492	)

(1)

Includes liability pursuant to warrants and Forward Purchase Agreement. Refer Note 14 for details

As a result of the Business Combination, the Company’s Class A ordinary shares trades under the ticker symbol “AERT” and its public warrants (the “Public Warrants”) trade under the ticker symbol “AERTW” on the Nasdaq Stock Market. Prior to the consummation of the Business Combination, the Company’s common shares were traded on Nasdaq Stock Market under the symbol “WWAC.”

Description of Organization, Business Operations, Liquidity, and Going Concern

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Organization, Business Operations, Liquidity, and Going Concern

Note 1 - Description of Organization, Business Operations, Liquidity, and Going Concern

Organization and General

Aeries Technology, Inc. (the “Company”) was incorporated in Cayman Islands on March 5, 2021 under the name Worldwide Webb Acquisition Corp. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.

As of September 30, 2023, the Company had not yet commenced operations. All activities for the period from March 5, 2021 (inception) through September 30, 2023, relate to the Company’s formation, initial public offering (“Initial Public Offering”), which is described below, and search of a target for Initial Business Combination. The Company will not generate any operating revenues until after the completion of its Initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

On October 22, 2021, the Company consummated the Initial Public Offering of 20,000,000 units (the “Units”). The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $200,000,000, which is described in Note 3.

Simultaneously with the closing of the Initial Public Offering, the Company completed the private sale of 8,000,000 warrants (the “Private Placement Warrants”) at a purchase price of $1.00 per Private Placement Warrant (the “Private Placement”), to Worldwide Webb Acquisition Sponsor, LLC (the “Sponsor”), generating gross proceeds to the Company of $8,000,000, which is described in Note 4.

Subsequently, on November 11, 2021, the underwriter exercised the over-allotment option in full, and the closing of the issuance and sale of the additional 3,000,000 units (the “Over-Allotment Units”) occurred on November 15, 2021. In connection with the over-allotment exercise, the Company issued 3,000,000 Over-Allotment Units, representing 3,000,000 Ordinary Shares and 1,500,000 Public Warrants at a price of $10.00 per Unit, generating total gross proceeds of $30,000,000.

Substantially concurrently with the closing of the sale of the Over-Allotment Units, the Company completed the private sale of 900,000 Private Placement Warrants (“Additional Private Placement Warrants”) to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $900,000.

Transaction costs amounted to $21,834,402, including $8,050,000 in deferred underwriting fees, $4,600,000 in upfront underwriting fees, and $9,184,402 in other offering costs related to the Initial Public Offering. Approximately $8,306,250 of these expenses are non-cash offering costs associated with the Class B shares purchased by the anchor investors.

Following the closing of the Initial Public Offering on October 22, 2021 and underwriters’ exercise of Over-Allotment option on November 15, 2021, an amount of $232,300,000 ($10.10 per Unit) of the proceeds from the Initial Public Offering, including $8,050,000 of the underwriters’ deferred discount was placed in a U.S.-based trust account (the “Trust Account”) at Bank of America, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds in the trust account that may be released to the Company to pay its franchise and income taxes and expenses relating to the administration of the trust account, the proceeds from the Initial Public Offering held in the trust account will not be released until the earliest of (i) the consummation of the Initial Business Combination or (ii) the distribution of the Trust Account proceeds as described below. The remaining proceeds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses.

The Company’s memorandum and articles of association, as amended, provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; (ii) the redemption of any Class A ordinary shares, $0.0001 par value, included in the Units (the “Public Shares”) being sold in the Initial Public Offering that have been properly tendered in connection with a shareholder vote to amend the Company’s memorandum and articles of association to modify the substance or timing of its obligation to redeem 100% of such Public Shares if it does not complete the Initial Business Combination within 30 months from the closing of the Initial Public Offering; and (iii) the redemption of 100% of the Class A ordinary shares included in the Units being sold in the Initial Public Offering if the Company is unable to complete an Initial Business Combination by April 22, 2024 (subject to the requirements of law). The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders.

On March 11, 2023, the Company entered into the Business Combination Agreement (the “Business Combination Agreement”), with WWAC Amalgamation Sub Pte. Ltd., a Singapore private company limited by shares and a direct wholly-owned Subsidiary of the Company, with company registration number 202300520W (“Amalgamation Sub”), and Aark Singapore Pte. Ltd., a Singapore private company limited by shares, with company registration number 200602001D (“AARK”, together with the Company and Amalgamation Sub, collectively, the “Parties” and individually a “Party”). Aeries Technology Group Business Accelerators Private Limited, an Indian private company limited by shares (“Aeries”), is a subsidiary of AARK. AARK is wholly owned by Mr. Venu Raman Kumar (the “Sole Shareholder”). The Business Combination Agreement and the transactions contemplated thereby were approved by the boards of directors of each of the Company, Amalgamation Sub and AARK, and by the sole shareholders of each of Amalgamation Sub and AARK. Please refer to the Form 8-K that was filed with the SEC on March 20, 2023.

On April 14, 2023, the Company held an extraordinary general meeting of shareholders (the “Meeting”) and approved two proposals to amend the Company’s amended and restated memorandum and articles of association (the “Articles”). This approval extended the liquidation date of the Company to October 22, 2023. In connection with the vote to approve these proposals, holders of 18,281,946 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.36 per share, for an aggregate redemption amount of $189,434,603, leaving $48,887,722 in the Company’s trust account and 4,718,054 Class A ordinary shares remain outstanding.

On October 16, 2023, the Company held another extraordinary general meeting of where the shareholders approved a proposal to amend the Company’s amended and restated memorandum and Articles to extend the date by which the Company must (1) consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (a “business combination”), (2) cease its operations except for the purpose of winding up if it fails to complete such business combination, and (3) redeem all of the Company’s Class A ordinary shares sold in the IPO, from 24 months from the closing of the IPO to 25 months from the closing of the IPO or such earlier date as is determined by the Company’s Board of Directors (the “Board”) to be in the best interests of the Company and to allow the Company, without another shareholder vote, by resolution of the Board, to elect to further extend the Extended Date in one-month increments up to five additional times (with each such extension being upon five days’ advance notice in writing), for a total of up to 30 months from the closing of the IPO, unless the closing of a business combination shall have occurred prior thereto. By this approval, the Company has until April 22, 2024 to consummate a business combination without approval of the Company’s shareholders. In connection with the vote to approve the Extension Amendment Proposal, holders of 938,987 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.66 per share, for an aggregate redemption amount of approximately $10.0 million. As a result, approximately $40.3 million will remain in the Company’s trust account and 3,779,067 Class A ordinary shares remain outstanding as of the approval date.

On June 1, 2023, in connection with the Business Combination, the Company entered into a subscription agreement (the “Subscription Agreement”) with a certain investor (the “PIPE Investor”), pursuant to which, among other things, the PIPE Investor has agreed to subscribe for and purchase from the Company. The Company has agreed to issue and sell to the PIPE Investor, an aggregate of 1,033,058 newly issued Class A ordinary shares for an aggregate purchase price of $5,000,000, on the terms and subject to the conditions set forth therein (the “PIPE Financing”). The Subscription Agreement contains customary conditions to closing, including the consummation of the Business.

Combination substantially concurrently with the consummation of the PIPE Financing. As of September 30, 2023 no shares related to the PIPE Financing Agreement were issued or outstanding. Please refer to the Form 8-K filed with the SEC on June 1, 2023 for additional information regarding the Subscription Agreement with the PIPE Investor.

The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, although substantially all of the net proceeds of the Initial Public Offering are intended to be generally applied toward consummating an Initial Business Combination. The Initial Business Combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the agreement to enter into the Initial Business Combination. Furthermore, there is no assurance that the Company will be able to successfully effect an Initial Business Combination.

The Company, after signing a definitive agreement for an Initial Business Combination, will either (i) seek shareholder approval of the Initial Business Combination at a meeting called for such purpose in connection with which shareholders may seek to redeem their shares, regardless of whether they vote for or against the Initial Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable, or (ii) provide shareholders with the opportunity to sell their Public Shares to the Company by means of a tender offer (and thereby avoid the need for a shareholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, including interest but less taxes payable. The decision as to whether the Company will seek shareholder approval of the Initial Business Combination or will allow shareholders to sell their Public Shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek shareholder approval, unless a vote is required by law or under NASDAQ rules. If the Company seeks shareholder approval, it will complete its Initial Business Combination only if a majority of the outstanding ordinary shares voted are voted in favor of the Initial Business Combination. However, in no event will the Company redeem its Public Shares in an amount that would cause its ordinary shares to no longer qualify for exemption from the Securities and Exchange Commission’s (the “SEC”) “penny stock” rules. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate Initial Business Combination.

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

Pursuant to the Company’s memorandum and articles of association if the Company is unable to complete the Initial Business Combination within 24 months from the closing of the Initial Public Offering, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned and not previously released to pay the Company’s franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses and net of taxes payable), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public shareholder’s rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and the Company’s independent director nominees will not be entitled to rights to liquidating distributions from the Trust Account with respect to any Founder Shares (as defined below) held by them if the Company fails to complete the Initial Business Combination within 18 months of the closing of the Initial Public Offering. However, if the Sponsor or any of the Company’s directors, officers or affiliates acquires Class A ordinary shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete the Initial Business Combination within the prescribed time period.

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

Liquidity and Going Concern Considerations

On a routine basis, the Company assesses going concern considerations in accordance with FASB ASC 205-40 “Presentation of Financial Statements - Going Concern”. As of September 30, 2023, the Company had a cash balance of $8,412 and a working capital deficit of $9,337,388, and the Company has access to working capital loans from the Sponsor, which is described in Note 4, to fund working capital needs or finance transaction costs. Further, the Company’s liquidity needs are satisfied through using proceeds from the Initial Public Offering and Private Placement Warrants (as described in Notes 3 and 4) that is not held in Trust Account to pay for existing accounts payable, identifying and evaluating prospective acquisition candidates, performing business due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target business to acquire and structuring, negotiating and consummating the Initial Business Combination.

If the Company’s estimates of the costs of identifying a target business, undertaking in-depth due diligence, and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have insufficient funds available to operate its business prior to an Initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete an Initial Business Combination or because it becomes obligated to redeem a significant number of its public shares upon completion of an Initial Business Combination, in which case the Company may issue additional securities or incur debt in connection with such Initial Business Combination. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

In connection with the Company’s assessment of going concern considerations in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after April 22, 2024. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

Risks and Uncertainties

In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these financial statements and the specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements.

Inflation Reduction Act of 2022

On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. 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 the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics 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 complete a Business Combination and inhibit the Company’s ability to complete a Business Combination.

Note 1 — Description of Organization, Business Operations, and Going Concern

Organization and General

Worldwide Webb Acquisition Corp. (the “Company”) is a blank check company incorporated in Cayman Islands on March 5, 2021. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.

As of December 31, 2022, the Company had not yet commenced operations. All activity for the period from March 5, 2021 (inception) through December 31, 2022, relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its Initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

The Company’s memorandum and articles of association provides that, other than the withdrawal of interest to pay taxes, if any, none of the funds held in the Trust Account will be released until the earlier of: (i) the completion of the Initial Business Combination; (ii) the redemption of any Class A ordinary shares, $0.0001 par value, included in the Units (the “Public Shares”) being sold in the Initial Public Offering that have been properly tendered in connection with a shareholder vote to amend the Company’s memorandum and articles of association to modify the substance or timing of its obligation to redeem 100% of such Public Shares if it does not complete the Initial Business Combination within 18 months from the closing of the Initial Public Offering; and (iii) the redemption of 100% of the Class A ordinary shares included in the Units being sold in the Initial Public Offering if the Company is unable to complete an Initial Business Combination within 18 months from the closing of the Initial Public Offering (subject to the requirements of law). The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public shareholders.

Initial Business Combination

Pursuant to the Company’s memorandum and articles of association if the Company is unable to complete the Initial Business Combination within 18 months from the closing of the Initial Public Offering, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned and not previously released to pay the Company’s franchise and income taxes (less up to $100,000 of interest to pay dissolution expenses and net of taxes payable), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public shareholder’s rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. The Sponsor and the Company’s independent director nominees will not be entitled to rights to liquidating distributions from the Trust Account with respect to any Founder Shares (as defined below) held by them if the Company fails to complete the Initial Business Combination within 18 months of the closing of the Initial Public Offering. However, if the Sponsor or any of the Company’s directors, officers or affiliates acquires Class A ordinary shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete the Initial Business Combination within the prescribed time period.

Liquidity and Going Concern Consideration

On a routine basis, the Company assesses going concern considerations in accordance with FASB ASC 205-40 “Presentation of Financial Statements - Going Concern”. As of December 31, 2022, the Company had a cash balance of $48,126 and a working capital deficit of $3,649,365, and the Company has access to working capital loans from the Sponsor, which is described in Note 4, to fund working capital needs or finance transaction costs. Further, the Company’s liquidity needs are satisfied through using proceeds from the Initial Public Offering and Private Placement Warrants (as described in notes 3 and 4) that is not held in Trust Account to pay for existing accounts payable, identifying and evaluating prospective acquisition candidates, performing business due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target business to acquire and structuring, negotiating and consummating the Initial Business Combination.

In connection with the Company’s assessment of going concern considerations in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the need for additional liquidity and the pending mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after April 22, 2023. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

Risks and Uncertainties

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

Inflation Reduction Act of 2022

Summary of Significant Accounting Policies (Policies)

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Preparation

Basis of Preparation

All intercompany balances and transactions have been eliminated in consolidation.

Basis of Presentation

Basis of Presentation

Emerging Growth Company

Emerging Growth Company

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 an emerging growth 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 standard 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.

Emerging Growth Company

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 an emerging growth 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 standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated 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

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and Cash Equivalents

Derivative Financial Instruments and FPA Put Option Liability

Derivative Financial Instruments and FPA Put Option Liability

Derivative Financial Instruments

Derivative Financial Instruments

Marketable Securities Held in Trust Account

Marketable Securities Held in Trust Account

At September 30, 2023 and December 31, 2022, the assets held in the Trust Account of $49,992,699 and $234,716,046, respectively, were invested in money market funds.

Marketable Securities Held in Trust Account

At December 31, 2022 and 2021, the assets held in the Trust Account of $234,716,046 and $232,320,844, respectively, were invested in money market funds.

Class A Ordinary Shares Subject to Possible Redemption

Class A Ordinary Shares Subject to Possible Redemption


Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046
Remeasurement of Class A ordinary shares to redemption value		4,711,256
Redemption of Class A ordinary shares		(189,434,603	)
Class A ordinary shares subject to possible redemption at September 30, 2023 (unaudited)	$	49,892,699

Class A Ordinary Shares Subject to Possible Redemption

The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit. The ordinary shares subject to possible redemption reflected on the balance sheet as of December 31, 2022 and 2021 is reconciled in the following table:


Gross proceeds	$	230,000,000
Less:
Class A ordinary shares issuance costs		(21,834,402	)
Fair value of Public Warrants at issuance		(5,784,500	)
Plus:
Remeasurement of Class A ordinary shares to redemption value		29,918,902
Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046

Concentration of Credit Risk

Concentration of Credit Risk


	Three Months Ended December 31,						Nine Months Ended December 31,
	2023			2022			2023			2022
Customer 1		13.9	%		16.2	%		14.4	%		16.5	%
Customer 2		12.9	%		15.6	%		12.7	%		15.4	%
Customer 3		n/a			14.7	%		10.3	%		12.8	%
Customer 4		n/a			10.0	%		n/a			10.1	%
Customer 5		n/a			10.0	%		n/a			n/a

Accounts receivable, net

The following tables provides details of the Company’s allowance for credit losses:

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326		149
Adjusted balance as of April 1, 2023	$	149
Additions charged to cost and expense		1,084
Closing balance as of December 31, 2023	$	1,233

Concentrations of Credit Risk

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2022 and 2021, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Financial Instruments

Fair Value of Financial Instruments

Financial Instruments

Fair Value Measurements

Fair Value Measurements

Hierarchical levels which are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets or liabilities are as follows:

Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Fair Value Measurements

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Fair Value Measurements

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Derivative Financial Instruments

Derivative Financial Instruments

Offering Costs

Offering Costs

Offering Costs

Net Loss per Share

Net Loss per Share

Net Loss Per Share of Ordinary Shares

A reconciliation of net (loss) income per share is below:


	For The Three Months Ended September 30, 2023			For The Three Months Ended September 30, 2022			For The Nine Months Ended September 30, 2023			For The Nine Months Ended September 30, 2022
Redeemable Class A Ordinary Shares
Numerator: Net (loss) income allocable to Redeemable Class A Ordinary Shares
Net (loss) income allocable to Redeemable Class A Ordinary Shares	$	(685,915	)	$	(278,460	)	$	(682,886	)	$	7,700,858
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares
Basic and diluted weighted average shares outstanding, Redeemable Class A		4,718,054			23,000,000			11,615,638			23,000,000
Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Non-Redeemable Class B Ordinary Shares
Numerator: Net (loss) income allocable to non-redeemable Class B Ordinary Shares
Net (loss) income allocable to non-redeemable Class B Ordinary Shares	$	(835,940	)	$	(69,615	)	$	(338,044	)	$	1,925,214
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000			5,750,000			5,750,000			5,750,000
Basic and diluted net (loss) income per share, Class B non-redeemable ordinary shares	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Earnings Per Share of Ordinary Shares

A reconciliation of the earnings per share is below:

Schedule of income (loss) per share, basic and diluted
	For The Year Ended December 31, 2022		For the period from March 5, 2021 (Inception) through December 31, 2021
Redeemable Class A Ordinary Shares
Numerator: Net income (loss) allocable to Redeemable Class A Ordinary Shares	$	7,807,770	$	(1,322,260	)
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares		23,000,000		5,158,940
Basic and diluted net income (loss) per share, Redeemable Class A	$	0.34	$	(0.26	)

Non-Redeemable Class B Ordinary Shares
Numerator: Net income (loss) allocable to non-redeemable Class B Ordinary Shares	$	1,951,943	$	(1,311,439	)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000		5,116,722
Basic and diluted net income (loss) per share, non-redeemable ordinary shares	$	0.34	$	(0.26	)

Income Taxes

Income Taxes

Income Taxes

FASB 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. There were no unrecognized tax benefits as of December 31, 2022 and 2021. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of December 31, 2022 and 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. Consequently, income taxes are not reflected in the Company’s financial statement.

Recent Accounting Pronouncements Adopted

Recent Accounting Pronouncements Adopted


	As Reported March 31, 2023		Impact of Adoption			Balance as of April 1, 2023
Accumulated retained earnings (deficit)		6,318		(190	)		6,128
Noncontrolling interests		1,279		(33	)		1,246
Accounts receivable, net		13,416		(149	)		13,267
Prepaid expenses and other current assets		4,117		-			4,117
Other current liabilities		4,201		21			4,222
Other assets		2,259		(1	)		2,258
Long-term investments		1,564		(126	)		1,438
Deferred tax asset		1,237		75			1,312

Expense related to credit losses is classified within “Selling, general & administrative expenses” in the condensed consolidated statements of operations.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Derivative Financial Instruments

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or noncurrent based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Periods prior to demerger transactions

Periods prior to demerger transactions

Periods after the Demerger Transactions

Periods after the Demerger Transactions

Going Concern

Going Concern

Segment Reporting

Segment Reporting

Forward Purchase Agreement

Forward Purchase Agreement

	●	$39,678 against the consideration receivable by ATI for a new issuance of class A ordinary shares to the FPA holders; and

●

$3,083 representing the cash paid by ATI to the FPA holders to fund the purchase price of the Recycled Shares.

The FPAs consist of two freestanding financial instruments that are accounted for as follows:

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Accounts receivable, net

Accounts receivable, net

Long-Term Investments

Long-Term Investments

The following tables provides details of the Company’s allowance for credit losses:

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on long term investments (through retained earnings) pursuant to ASC 326		126
Adjusted balance as of April 1, 2023	$	126
Additions charged to change in provision for credit losses		3
Closing balance as of December 31, 2023	$	129

The Company includes these long-term investments in “Long-term investments” on the condensed consolidated balance sheets.

Recent Accounting Pronouncements not yet Adopted

Recent Accounting Pronouncements not yet Adopted

Other recent pronouncements are either not applicable or are not expected to have a material impact on the Company’s condensed consolidated financial statements.

Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Dec. 31, 2023

Numerator:

Net income / (loss) attributable to controlling interest for the period from November 6, 2023 through December 31, 2023

$ (16,626)

Denominator:

Weighted average shares outstanding of Class A ordinary shares, basic and diluted for the period from November 6, 2023 through December 31, 2023

^[1]

15,389,062

Net loss per share Ordinary Shares

Basic net income (loss) per share, Class B non-redeemable ordinary shares

^[1]

$ (1.08)

Diluted net income (loss) per share, Class B non-redeemable ordinary shares

^[1]

$ (1.08)

[1]

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

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Schedule of stock option activity

Fair Value Measurements (Details 3) - USD ($)	2 Months Ended	9 Months Ended		12 Months Ended
Fair Value Measurements (Details 3) - USD ($)	Dec. 31, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Fair value at beginning balance	$ 9,054,000		$ 614,040	$ 12,240,000
Warrants and Forward purchase agreement put option liability acquired as part of business combination		27,778,000
Change in fair value (gain)	3,186,000	16,395,000	387,600	(11,625,960)
Fair value as of ending balance	12,240,000	44,173,000	1,001,640	614,040
Forward Purchase Agreement Derivative Liabilities [Member]
Class of Warrant or Right [Line Items]
Fair value at beginning balance
Warrants and Forward purchase agreement put option liability acquired as part of business combination		25,009,000
Change in fair value (gain)		17,247,000
Fair value as of ending balance		42,256,000
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Fair value at beginning balance	5,030,000		346,150	6,900,000
Warrants and Forward purchase agreement put option liability acquired as part of business combination		1,513,000
Change in fair value (gain)	1,870,000	(465,000)	218,500	(6,553,850)
Fair value as of ending balance	6,900,000	1,048,000	564,650	346,150
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Fair value at beginning balance	4,024,000		267,890	5,340,000
Warrants and Forward purchase agreement put option liability acquired as part of business combination		1,256,000
Change in fair value (gain)	1,316,000	(387,000)	169,100	(5,072,110)
Fair value as of ending balance	$ 5,340,000	$ 869,000	$ 436,990	$ 267,890

Fair Value Measurements (Details Narrative) - USD ($)		2 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
Fair Value Measurements (Details Narrative) - USD ($)	Dec. 10, 2021	Dec. 31, 2021	Sep. 30, 2023	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Transfers in and out of level 3			$ 0		$ 0	$ 0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings		$ 3,186,000		$ 16,395,000	387,600	(11,625,960)
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants threshold waiting period for public trading	52 days
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings		$ 1,870,000		(465,000)	$ 218,500	$ (6,553,850)
Forward Purchase Agreement Derivative Liabilities [Member]
Class of Warrant or Right [Line Items]
Option liability				25,009,000
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings				$ 17,247,000

Restatement of Previously Issued Condensed Carve-out Consolidated Financial Statements (Details Narrative) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Restatement Of Previously Issued Condensed Carve-out Consolidated Financial Statements
Current assets	$ 1,022,000	$ 837	$ 8,334
Assets and liabilities			$ 304,000

Employee Compensation and Benefits (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Service costs	$ 112	$ 83	$ 338	$ 255
Interest costs	24	13	74	39
Amortization of net actuarial loss	21	15	64	47
Net defined benefit plan costs	$ 157	$ 111	$ 476	$ 341

Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 2023

Schedule of stock option activity
	Shares		Weighted average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value
Options outstanding at March 31, 2023		59,900	$	-		-	$	-
Options granted		-	$	-		-	$	-
Options exercised		-		-		-		-
Options canceled, forfeited or expired		-		-		-		-
Options outstanding at December 31, 2023		59,900	$	0.12		4.56	$	4,739

Vested and exercisable at December 31, 2023		59,900	$	0.12		4.56	$	4,739

Schedule of stock option activity

Schedule of stock option activity
	Shares		Weighted average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value
Options outstanding at March 31, 2023		295,565	$	-		-	$	-
Options granted		-		-		-		-
Options exercised		-		-		-		-
Options canceled, forfeited or expired		-		-		-		-
Options outstanding at December 31, 2023		295,565	$	0.12		1.92	$	23,385

Vested and exercisable at December 31, 2023		295,565	$	0.12		1.92	$	23,385

Schedule of weighted average assumptions


	2022 Grants
Expected term	3.5 years
Expected volatility	40.80	%
Risk free interest rate	3.01	%
Annual dividend yield	0.00	%

Summary of Significant Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of reconciliation of ordinary shares subject to possible redemption


Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046
Remeasurement of Class A ordinary shares to redemption value		4,711,256
Redemption of Class A ordinary shares		(189,434,603	)
Class A ordinary shares subject to possible redemption at September 30, 2023 (unaudited)	$	49,892,699


Gross proceeds	$	230,000,000
Less:
Class A ordinary shares issuance costs		(21,834,402	)
Fair value of Public Warrants at issuance		(5,784,500	)
Plus:
Remeasurement of Class A ordinary shares to redemption value		29,918,902
Class A ordinary shares subject to possible redemption at December 31, 2021	$	232,300,000
Remeasurement of Class A ordinary shares to redemption value		2,316,046
Class A ordinary shares subject to possible redemption at December 31, 2022	$	234,616,046

Schedule of Income Per Share, Basic and Diluted


Numerator:
Net income / (loss) attributable to controlling interest for the period from November 6, 2023 through December 31, 2023	$	(16,626	)

Denominator:
Weighted average shares outstanding of Class A ordinary shares, basic and diluted for the period from November 6, 2023 through December 31, 2023		15,389,062

Net loss per share Ordinary Shares
Basic	$	(1.08	)
Diluted	$	(1.08	)


	For The Three Months Ended September 30, 2023			For The Three Months Ended September 30, 2022			For The Nine Months Ended September 30, 2023			For The Nine Months Ended September 30, 2022
Redeemable Class A Ordinary Shares
Numerator: Net (loss) income allocable to Redeemable Class A Ordinary Shares
Net (loss) income allocable to Redeemable Class A Ordinary Shares	$	(685,915	)	$	(278,460	)	$	(682,886	)	$	7,700,858
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares
Basic and diluted weighted average shares outstanding, Redeemable Class A		4,718,054			23,000,000			11,615,638			23,000,000
Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Non-Redeemable Class B Ordinary Shares
Numerator: Net (loss) income allocable to non-redeemable Class B Ordinary Shares
Net (loss) income allocable to non-redeemable Class B Ordinary Shares	$	(835,940	)	$	(69,615	)	$	(338,044	)	$	1,925,214
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000			5,750,000			5,750,000			5,750,000
Basic and diluted net (loss) income per share, Class B non-redeemable ordinary shares	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Schedule of income (loss) per share, basic and diluted
	For The Year Ended December 31, 2022		For the period from March 5, 2021 (Inception) through December 31, 2021
Redeemable Class A Ordinary Shares
Numerator: Net income (loss) allocable to Redeemable Class A Ordinary Shares	$	7,807,770	$	(1,322,260	)
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares		23,000,000		5,158,940
Basic and diluted net income (loss) per share, Redeemable Class A	$	0.34	$	(0.26	)

Non-Redeemable Class B Ordinary Shares
Numerator: Net income (loss) allocable to non-redeemable Class B Ordinary Shares	$	1,951,943	$	(1,311,439	)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000		5,116,722
Basic and diluted net income (loss) per share, non-redeemable ordinary shares	$	0.34	$	(0.26	)

Schedule of Concentration of credit risk


	Three Months Ended December 31,						Nine Months Ended December 31,
	2023			2022			2023			2022
Customer 1		13.9	%		16.2	%		14.4	%		16.5	%
Customer 2		12.9	%		15.6	%		12.7	%		15.4	%
Customer 3		n/a			14.7	%		10.3	%		12.8	%
Customer 4		n/a			10.0	%		n/a			10.1	%
Customer 5		n/a			10.0	%		n/a			n/a

Schedule of allowance for credit losses

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326		149
Adjusted balance as of April 1, 2023	$	149
Additions charged to cost and expense		1,084
Closing balance as of December 31, 2023	$	1,233

Schedule of allowance for credit losses

Schedule of allowance for credit losses
	Nine Months Ended December 31, 2023
Opening balance as of March 31, 2023	$	-
Transition period adjustment on long term investments (through retained earnings) pursuant to ASC 326		126
Adjusted balance as of April 1, 2023	$	126
Additions charged to change in provision for credit losses		3
Closing balance as of December 31, 2023	$	129

Schedule of impact of the Company adoption


	As Reported March 31, 2023		Impact of Adoption			Balance as of April 1, 2023
Accumulated retained earnings (deficit)		6,318		(190	)		6,128
Noncontrolling interests		1,279		(33	)		1,246
Accounts receivable, net		13,416		(149	)		13,267
Prepaid expenses and other current assets		4,117		-			4,117
Other current liabilities		4,201		21			4,222
Other assets		2,259		(1	)		2,258
Long-term investments		1,564		(126	)		1,438
Deferred tax asset		1,237		75			1,312

Revenue

9 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Note 6 - Revenue

Disaggregation of Revenue

The Company presents and discusses revenues by customer location. The Company believes this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors.

The following table shows the disaggregation of the Company’s revenues by major customer location. Revenues are attributed to geographic regions based upon billed client location. Substantially all of the revenue in our North America region relates to operations in the United States.

Schedule of Disaggregation of Revenue
	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
North America	$	14,533	$	11,761	$	40,899	$	35,739
Asia Pacific and Other		4,364		930		11,906		2,288
Total revenue	$	18,897	$	12,691	$	52,805	$	38,027

Contract balances

Contract assets comprise amounts where the Company’s right to bill is contingent on something other than the passage of time. As of December 31, 2023 and March 31, 2023, the Company’s contract assets were $1,564 and $0, respectively, and were recorded within “Prepaid expenses and other current assets”, net of allowance for credit losses, on the condensed consolidated balance sheets.

Contract liabilities, or deferred revenue, comprise amounts collected from the Company’s customers for revenues not yet earned and amounts which are anticipated to be recorded as revenues when services are performed. The amount of revenue recognized in the nine months ended December 31, 2023 and 2022 that was included in deferred revenue at the beginning of each period was $181 and $228, respectively.

As of December 31, 2023 and March 31, 2023 the Company’s deferred revenue was $155 and $193, respectively, and was recorded within “Other current liabilities” on the condensed consolidated balance sheets. There was no deferred revenue classified as non-current as of December 31, 2023 and March 31, 2023.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (e)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org//606/tableOfContent

Employee Compensation and Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Net actuarial loss / (gain)	$ (14)	$ (86)	$ 100	$ (51)
Amortization of net actuarial (gain)	(21)	(15)	(64)	(47)
Deferred tax expense / (benefit)	9	25	(9)	25
Unrecognized actuarial loss / (gain) on employee benefit plan obligations	$ (26)	$ (76)	$ 27	$ (73)

Income Taxes (Details Narrative)	3 Months Ended		9 Months Ended
Income Taxes (Details Narrative)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	(3.50%)	173.80%	(10.80%)	58.30%

Subsequent Events

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Note 16 - Subsequent Events

Aeries Technology Singapore Pte. Ltd (“ATSG”), a company incorporated in Singapore on December 2, 2023, was wholly owned by the Sole Shareholder comprising of one common share of ATSG. On January 4, 2024, the share held by the Sole Shareholder was transferred to AARK constituting 100% of ATSG’s share capital, for $1. Pursuant to this transaction, ATSG became a wholly owned subsidiary of AARK. Subsequently, on January 19, 2024, AARK additionally subscribed to 499,999 shares.

Note 9 - Subsequent Events

Management has evaluated the impact of subsequent events the date the unaudited condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events, except as described below, that would have required adjustment or disclosure in the unaudited condensed financial statements.

Non-Redemption Agreement

On October 8, 2023 and October 10, 2023, the Company and its Sponsor entered into non-redemption agreements (each, a “Non-Redemption Agreement”) with certain unaffiliated third parties (each, a “Holder,” and collectively, the “Holders”) in exchange for the Holder or Holders agreeing either not to request redemption in connection with the Company’s extension or to reverse any previously submitted redemption demand in connection with the Extension with respect to an aggregate of 3,733,263 Class A ordinary shares, par value $0.0001 per share (the “Class A ordinary shares”, and such shares subject to each Non-Redemption Agreement, the “Non-Redeemed Shares”), of the Company sold in its initial public offering (the “IPO”) at the extraordinary general meeting called by the Company to, among other things, approve an amendment to the Company’s amended and restated memorandum and articles of association to extend the date by which the Company must (1) consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (a “business combination”), (2) cease its operations except for the purpose of winding up if it fails to complete such business combination, and (3) redeem all of the Company’s Class A ordinary shares sold in the Company’s IPO, from 24 months from the closing of our IPO to 25 months from the closing of our IPO or such earlier date as is determined by our Board of Directors (the “Board”) to be in the best interests of the Company (such date, the “Extended Date”), and to allow the Company, without another shareholder vote, by resolution of our Board, to elect to further extend the Extended Date in one-month increments up to five additional times (with each such extension being upon five days’ advance notice in writing), for a total of up to 30 months from the closing of our IPO, unless the closing of a business combination will have occurred prior thereto (each an “Extension”).

Trust Agreement and Extension Amendments

On October 16, 2023, the Company had an extraordinary meeting and in connection with such meeting, the Company received shareholders approval to amend the Trust Agreement and extended the Company’s for additional period. In connection with the extension proposal, holders of 938,987 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.66 per share, for an aggregate redemption amount of approximately $10.0 million. As a result, approximately $40.3 million will remain in the Company’s trust account and 3,779,067 Class A ordinary shares remain outstanding.

Registration Rights Agreement Amendment

On October 26, 2023, the Company, the Sponsor and the other parties thereto (the “Holders”) entered into an amendment (the “Registration Rights Agreement Amendment”) to that certain registration rights agreement, dated October 19, 2021, among the Company, the Sponsor and the Holders (the “Registration Rights Agreement”), to, among other things, amend the definition of “Founder Shares Lock-up Period” to conform to the amendment to the transfer restrictions contained in the Letter Agreement.

Subscription Agreement

On October 28, 2023, November 5, 2023, and November 6, 2023, in connection with the Business Combination, the Company entered into a subscription agreement (the “Subscription Agreement”) with a certain investor (the “PIPE Investor”), pursuant to which, among other things, the PIPE Investor has agreed to subscribe for and purchase Class A ordinary shares from the Company. The Subscription Agreement contains customary conditions to closing, including the consummation of the Business Combination. Refer to Form 8-K filed with the SEC on November 6, 2023.

Forward Purchase Agreement

On November 5, 2023 and November 6, 2023, the Company entered into amendments to the Forward Purchase Agreements (each, a “Forward Purchase Agreement Amendment”) with certain of the FPA Parties. The Forward Purchase Agreement Amendments provide that, among other things, the FPA Party will purchase certain units of shares from the Counterparty, subject to a 9.9% ownership limitation; provided that such number of additional shares that may be purchased from the Counterparty shall not exceed (x) the Maximum Number of Shares, minus (y) the Recycled Shares.

Non-Redemption Agreement

On November 3, 2023 and November 5, 2023, in connection with the Business Combination, the Company entered into non-redemption agreements with certain investors (the “NRA Investors”), pursuant to which, among other things, the NRA Investors agreed to reverse the redemptions of up to an aggregate of 1,342,976 Class A ordinary shares of the Company. Refer to Form 8-K filed with the SEC on November 3, 2023 and November 6, 2023.

Consummation of Business Combination

On November 6, 2023, as contemplated in the Business Combination Agreement, the Company consummated the Business Combination, following the approval by the Company’s shareholders at the annual meeting of shareholders held on November 2, 2023. In connection with the closing of the Business Combination, the Company adopted the Memorandum and Articles of Association and changed its name from Worldwide Webb Acquisition Corp. to Aeries Technology, Inc.

Note 9 — Subsequent Events

Management has evaluated the impact of subsequent events through the date the financial statements were issued. Based upon this review, the Company did not identify any subsequent events, excluding the items discussed below, that would have required adjustment or disclosure in the financial statement.

On March 11, 2023, the Company entered into the Business Combination Agreement (the “Business Combination Agreement”), with WWAC Amalgamation Sub Pte. Ltd., a Singapore private company limited by shares and a direct wholly-owned Subsidiary of the Company (“Amalgamation Sub”), and Aark Singapore Pte. Ltd., a Singapore private company limited by shares (“AARK”, together with the Company and Amalgamation Sub, collectively, the “Parties” and individually a “Party”). Aeries Technology Group Business Accelerators Private Limited, an Indian private company limited by shares (“Aeries”), is a subsidiary of AARK. AARK is wholly owned by Mr. Venu Raman Kumar (the “Sole Shareholder”). The Business Combination Agreement and the transactions contemplated thereby were approved by the boards of directors of each of the Company, Amalgamation Sub and AARK, and by the sole shareholders of each of Amalgamation Sub and AARK. Please refer to the Form 8-K that was filed with the SEC on March 20, 2023.

Short-term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Extinguishment of Debt [Line Items]
Short-term borrowings	$ 6,238	$ 1,376
Short-Term Debt [Member]
Extinguishment of Debt [Line Items]
Short-term borrowings	6,225	1,364
Current Portion Of Vehicle Loan [Member]
Extinguishment of Debt [Line Items]
Short-term borrowings	$ 13	$ 12

Related Party Transactions (Details 1) - USD ($)

3 Months Ended

9 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2023

Dec. 31, 2022

Sep. 30, 2023

Mar. 31, 2023

Dec. 31, 2021

$ 115,000

$ 52,000

$ 314,000

$ 166,000

Accounts payable

676,652

$ 6,351,857

$ 2,810

Interest payable (classified under other current liabilities)

18,152,000

$ 13,416,000

42,267

$ 62,267

$ 11,501

Aeries Financial Technologies Private Limited [Member]

Cost sharing arrangements

^[1]

42,000

40,000

143,000

115,000

Interest income

^[2],[3]

43,000

60,000

123,000

112,000

Investment in 0.001% Series-A Redeemable preference share

^[1]

8,000

9,000

^[3]

903,000

803,000

Loans to affiliates (classified under other assets)

^[2]

105,000

106,000

Bhanix Finance And Investment Limited [Member]

Cost sharing arrangements

^[1]

27,000

2,000

87,000

84,000

Corporate guarantee commission

3,000

2,000

9,000

Aeries Technology Products And Strategies Private Limited [Member]

^[1]

51,000

86,000

Corporate guarantee expense

^[4]

4,000

2,000

11,000

Office management and support services expense

^[5]

7,000

21,000

1,000

Interest income

^[3],[6]

24,000

21,000

77,000

64,000

^[7]

1,000

8,000

76,000

13,000

Accounts payable

^[7]

29,000

Interest payable (classified under other current liabilities)

1,000

^[5]

9,000

1,000

Interest receivable (classified under prepaid expenses and other current assets)

^[6]

50,000

57,000

Investment in 10% Cumulative redeemable preference shares

^[3]

784,000

761,000

Loans from affiliates

^[5]

193,000

Loans to affiliates (classified under other assets)

^[6]

337,000

335,000

Mr Vaibhav Rao [Member]

Loan from Members of immediate families

^[8]

21,000

63,000

65,000

^[8]

836,000

845,000

Ralak Consulting L L P [Member]

Legal and professional fees paid

^[9]

133,000

78,000

346,000

302,000

Aark I I Pte Limited [Member]

Management consultancy service

^[10]

737,000

346,000

2,439,000

949,000

T S L C Pte Limited [Member]

^[10]

483,000

1,084,000

Management consultancy service

^[10]

39,000

127,000

Organization, Consolidation and Presentation of Financial Statements [Abstract]

^[10]

$ 159,000

$ 259,000

[1]	The Company was in a cost sharing arrangement with Aeries Financial Technologies Private Ltd and Bhanix Finance and Investment Ltd under separate agreements dated April 1, 2020. The cost sharing arrangement included costs in the areas of office management, IT and operations. The agreements are for a 36-month term with auto renewals after the original term.
[2]	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 15-17% per annum.
[3]	This amount represents investments in affiliates. The Company earned interest income on its investments in affiliates.
[4]	ATPSPL gave corporate guarantee of INR 240,000 (or approximately $2,888 at the exchange rate in effect on December 31, 2023) on behalf of the Company towards the revolving credit facility availed. ATPSPL charges a corporate guarantee commission of 0.5% on the total corporate guarantee given. The guarantee was withdrawn during the nine month ended December 31, 2023.
[5]	The Company incurred interest expense in relation to loans taken from ATPSPL, which were borrowed to meet working capital requirements. The loans were for a 3-year term and were issued at an interest rate of 12% per annum.
[6]	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 12% per annum.
[7]	The Company availed management consulting services from ATPSPL under agreements dated March 20, 2020 and April 1, 2021.
[8]	The Company obtained a loan at 10% interest rate from Vaibhav Rao for business purposes. The agreement shall remain valid until the principal amount along with interest is fully repaid. The principal amount of the loan was outstanding in entirety as of the nine month ended December 31, 2023 and 2022.
[9]	The Company availed consulting services including implementation services in business restructuring, risk management, feasibility studies, mergers & acquisitions etc. from Ralak Consulting LLP vide agreement dated April 01, 2022.
[10]	The Company provided management consulting services to Aark II Pte Ltd under an agreement dated June 21, 2021 and its amendments thereof and to TSLC Pte Ltd under an agreement dated July 12, 2021.

Nature of Operations (Details 1)
$ in Thousands

9 Months Ended

Dec. 31, 2023

USD ($)

Balance in Company trust account

$ 40,402

Less: Outflow on account of redemption payments

(18,795)

Less: Prepayment for recycle share under forward purchase agreement

(3,083)

Less: Payments under Non-redemption agreements

(9,672)

Less: Payment to Continental Stock Transfer for services provided in relation to the Business Combination

(186)

Net cash acquired in Business Combination

8,666

Less: Assumed net liabilities of ATI on Closing Date

(38,994)

^[1]

Less: Pre-combination transaction costs

(3,697)

Less: Transferred to Redeemable Noncontrolling Interest (“NCI”) pursuant to Business Combination

(4,465)

Less: Par value of Class A ordinary shares issued

(2)

Net charge to Additional paid-in-capital as a result of the Business Combination reported in Shareholders’ equity (deficit)

$ (38,492)

[1]	Includes liability pursuant to warrants and Forward Purchase Agreement. Refer Note 14 for details

Income Taxes (Tables)

9 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Related Party Transactions

Schedule of Related Party Transactions
Name of the related party		Relationship
Aark II Pte Limited		Affiliate entity
Aarx Singapore Pte Ltd		Affiliate entity
Aeries Technology Products And Strategies Private Limited (“ATPSPL”)		Affiliate entity
Aeries Financial Technologies Private Limited		Affiliate entity
Bhanix Finance And Investment Limited		Affiliate entity
Ralak Consulting LLP		Affiliate entity
TSLC Pte Limited		Affiliate entity
Venu Raman Kumar		Chairman of ATI’s Board and controlling shareholder
Vaibhav Rao		Members of immediate families of Venu Raman Kumar
Sudhir Appukuttan Panikassery		Key managerial personnel

Schedule of significant transactions and balances due to and from related parties


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Cost sharing arrangements
Aeries Financial Technologies Private Limited (b)		42		40		143		115
Bhanix Finance And Investment Limited (b)		27		2		87		84
Corporate guarantee commission
Bhanix Finance And Investment Limited		-		3		2		9
Corporate guarantee expense
Aeries Technology Products And Strategies Private Limited (j)		-		4		2		11
Interest expense
Aeries Technology Products And Strategies Private Limited (d)		7		-		21		1
Mr. Vaibhav Rao (g)		21		21		63		65
Interest income
Aeries Financial Technologies Private Limited (f), (h)		43		60		123		112
Aeries Technology Products And Strategies Private Limited (e), (h)		24		21		77		64
Legal and professional fees paid
Ralak Consulting LLP (c)		133		78		346		302
Management consultancy service
Aark II Pte Limited (a)		737		346		2,439		949
TSLC Pte Limited (a)		39		-		127		-
Office management and support services expense
Aeries Technology Products And Strategies Private Limited (i)		1		8		76		13

	December 31,		March 31,
	2023		2023
Accounts payable
Aeries Technology Products And Strategies Private Limited (i)	$	-	$	29
Accounts receivable
Aeries Technology Products And Strategies Private Limited		1		-
Aark II Pte Limited (a)		483		1,084
Aeries Financial Technologies Private Limited (b)		8		9
Bhanix Finance And Investment Limited (b)		51		86
TSLC Pte Limited (a)		159		259
Interest payable (classified under other current liabilities)
Aeries Technology Products And Strategies Private Limited (d)		9		1
Interest receivable (classified under prepaid expenses and other current assets)
Aeries Technology Products And Strategies Private Limited (e)		50		57
Investment in 0.001% Series-A Redeemable preference share
Aeries Financial Technologies Private Limited (h)		903		803
Investment in 10% Cumulative redeemable preference shares
Aeries Technology Products And Strategies Private Limited (h)		784		761
Loan from Members of immediate families of Venu Raman Kumar
Mr. Vaibhav Rao (g)		836		845
Loans from affiliates
Aeries Technology Products and Strategies Private Limited (d)		193		-
Loans to affiliates (classified under other assets)
Aeries Financial Technologies Private Limited (f)		105		106
Aeries Technology Products And Strategies Private Limited (e)		337		335

	(a)	The Company provided management consulting services to Aark II Pte Ltd under an agreement dated June 21, 2021 and its amendments thereof and to TSLC Pte Ltd under an agreement dated July 12, 2021.
	(b)	The Company was in a cost sharing arrangement with Aeries Financial Technologies Private Ltd and Bhanix Finance and Investment Ltd under separate agreements dated April 1, 2020. The cost sharing arrangement included costs in the areas of office management, IT and operations. The agreements are for a 36-month term with auto renewals after the original term.
	(c)	The Company availed consulting services including implementation services in business restructuring, risk management, feasibility studies, mergers & acquisitions etc. from Ralak Consulting LLP vide agreement dated April 01, 2022.
	(d)	The Company incurred interest expense in relation to loans taken from ATPSPL, which were borrowed to meet working capital requirements. The loans were for a 3-year term and were issued at an interest rate of 12% per annum.
	(e)	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 12% per annum.
	(f)	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 15-17% per annum.
	(g)	The Company obtained a loan at 10% interest rate from Vaibhav Rao for business purposes. The agreement shall remain valid until the principal amount along with interest is fully repaid. The principal amount of the loan was outstanding in entirety as of the nine month ended December 31, 2023 and 2022.
	(h)	This amount represents investments in affiliates. The Company earned interest income on its investments in affiliates.
	(i)	The Company availed management consulting services from ATPSPL under agreements dated March 20, 2020 and April 1, 2021.
	(j)	ATPSPL gave corporate guarantee of INR 240,000 (or approximately $2,888 at the exchange rate in effect on December 31, 2023) on behalf of the Company towards the revolving credit facility availed. ATPSPL charges a corporate guarantee commission of 0.5% on the total corporate guarantee given. The guarantee was withdrawn during the nine month ended December 31, 2023.

Fair Value Measurements (Tables)

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Class of Warrant or Right [Line Items]

Summary of Assets That Are Measured at Fair Value on a Recurring Basis


	Description	Level	Fair Value
September 30, 2023	Marketable securities	1	$	49,992,699
December 31, 2022	Marketable securities	1	$	234,716,046


	Description	Level	Fair Value
December 31, 2022	Marketable securities	1	$	234,716,046
December 31, 2021	Marketable securities	1	$	232,320,844

Summary of Liabilities Measured at Fair Value on a Recurring Basis


December 31, 2023	Level 1		Level 2		Level 3		Total
Liabilities:
Forward Purchase Agreement put option liability	$	-	$	-	$	42,256	$	42,256
Public Warrants		1,048		-		-	$	1,048
Private Placement Warrants		-		-		869	$	869
Total liabilities	$	1,048	$	-	$	43,125	$	44,173

March 31, 2023

Level 1

Level 2

Level 3

Total

Liabilities:

Forward Purchase Agreement put option liability

Public Warrants

Private Placement Warrants

Total liabilities


September 30, 2023	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	564,650	$	-	$	-	$	564,650
Private Placement Warrants		-		436,990		-		436,990
Total liabilities	$	564,650	$	436,990	$	-	$	1,001,640

December 31, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	346,150	$	-	$	-	$	346,150
Private Placement Warrants		-		267,890		-		267,890
Total liabilities	$	346,150	$	267,890	$	-	$	614,040


December 31, 2022	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	346,150	$	-	$	-	$	346,150
Private Placement Warrants		-		267,890		-		267,890
Total liabilities	$	346,150	$	267,890	$	-	$	614,040

December 31, 2021	Level 1		Level 2		Level 3		Total
Liabilities:
Public Warrants	$	6,900,000	$	-	$	-	$	6,900,000
Private Placement Warrants		-		5,340,000		-		5,340,000
Total liabilities	$	6,900,000	$	5,340,000	$	-	$	12,240,000

Summary of The Changes In The Fair Value of Derivative Warrant Liabilities


	Forward Purchase Agreement Put Option Liability		Public Warrant Liability			Private Placement Liability			Total
Fair value at April 1, 2023	$	-	$	-		$	-		$	-
Warrants and Forward Purchase Agreement put option liability acquired as part of Business Combination as at November 6, 2023		25,009		1,513			1,256			27,778
Change in fair value (gain) / loss		17,247		(465	)		(387	)		16,395
Fair value as of December 31, 2023	$	42,256	$	1,048		$	869		$	44,173


	Public Warrant Liability		Public Warrant Liability		Total
Fair value at January 1, 2023	$	346,150	$	267,890	$	614,040
Change in fair value (loss)		218,500		169,100		387,600
Fair value as of September 30, 2023	$	564,650	$	436,990	$	1,001,640


	Public			Private
	Warrant			Warrant
	Liability			Liability			Total
Fair value at October 22, 2021	$	5,030,000		$	4,024,000		$	9,054,000
Change in fair value		1,870,000			1,316,000			3,186,000
Fair value as of December 31, 2021		6,900,000			5,340,000			12,240,000
Change in fair value		(6,553,850	)		(5,072,110	)		(11,625,960	)
Fair value as of December 31, 2022	$	346,150		$	267,890		$	614,040

Forward Purchase Agreement Put Option Liability [Member]

Class of Warrant or Right [Line Items]

Schedule of derivative contract assumptions


Term (years)		0.85
Risk-free interest rate		4.93	%
Volatility		48.6	%
Stock price at measurement date	$	2.50

Private Warrants Liability [Member]

Class of Warrant or Right [Line Items]

Schedule of derivative contract assumptions


Term (years)		4.85
Risk-free interest rate		3.85	%
Volatility		38.2	%
Stock price at measurement date	$	2.50

Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit) (Details Narrative) - $ / shares	9 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 14, 2023	Apr. 14, 2023	Apr. 02, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 02, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	5,000,000	5,000,000				5,000,000	5,000,000		5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001				$ 0.0001	$ 0.0001		$ 0.0001
Preferred Stock, Shares Issued	0	0				0	0		0
Preferred Stock, Shares Outstanding	0	0				0	0		0
Common Stock, Par or Stated Value Per Share	$ 0					$ 0
Common stock, Shares issued	0				10,000	10,000		10,000
Common stock, Shares outstanding	0		10			10,000
Number of shares of common stock outstanding after stock split	10,000
A T G B A [Member]
Class of Stock [Line Items]
Ownership percentage	14.69%
Minimum [Member]
Class of Stock [Line Items]
Voting rights	26.00%
Maximum [Member]
Class of Stock [Line Items]
Voting rights	51.00%
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	500,000,000	500,000,000					500,000,000		500,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001					$ 0.0001		$ 0.0001
Common stock, Shares issued	15,619,004	0					0		0
Common stock, Shares outstanding	15,619,004	0					0		0
Temporary equity, Shares outstanding	4,000,000	4,718,054		4,718,054			23,000,000		23,000,000
Common Class V [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	1					1
Common Stock, Par or Stated Value Per Share	$ 0.0001					$ 0.0001
Common stock, Shares issued	1					1
Common stock, Shares outstanding	1					1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net income / (loss)	$ (16,301)	$ (315)	$ (14,880)	$ 821
Other comprehensive income / (loss), net of tax
Foreign currency translation adjustments	(6)	(143)	(159)	(788)
Unrecognized actuarial gain / (loss) on employee benefit plan obligations	26	76	(27)	73
Total other comprehensive income / (loss), net of tax	20	(67)	(186)	(715)
Comprehensive income / (loss), net of tax	(16,281)	(382)	(15,066)	106
Less: Comprehensive income / (loss) attributable to noncontrolling interests	(43)	(55)	108	20
Less: Comprehensive income attributable to redeemable noncontrolling interests	162		162
Total comprehensive income / (loss) attributable to shareholders’ of Aeries Technology, Inc.	$ (16,400)	$ (327)	$ (15,336)	$ 86

Stock-Based Compensation

9 Months Ended

Dec. 31, 2023

Stock-Based Compensation

Note 10 - Stock-Based Compensation

Aeries Employees Stock Option Plan, 2020

On August 1, 2020, ATGBA’s board of directors approved and executed the Aeries Employees Stock Option Plan (“ESOP”), which was subsequently amended on July 22, 2022. Under ESOP, the Company has authorized to grant up to 59,900 options to eligible employees in one or more tranches. The Company granted 59,900 options to eligible employees during the year ended March 31, 2023.

The options issued under the ESOP generally are subject to service conditions. The service condition is typically one year. The stock-based compensation expense is recognized in the condensed consolidated statements of comprehensive income using the straight-line attribution method over the requisite service period.

The following table summarizes the ESOP stock option activity for the nine months ended December 31, 2023:

Schedule of stock option activity
	Shares		Weighted average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value
Options outstanding at March 31, 2023		59,900	$	-		-	$	-
Options granted		-	$	-		-	$	-
Options exercised		-		-		-		-
Options canceled, forfeited or expired		-		-		-		-
Options outstanding at December 31, 2023		59,900	$	0.12		4.56	$	4,739

Vested and exercisable at December 31, 2023		59,900	$	0.12		4.56	$	4,739

Aeries Management Stock Option Plan, 2019

On September 23, 2019, ATGBA’s board of directors approved and executed the Aeries Management Stock Option Plan 2019 (“MSOP”), which was subsequently amended on December 31, 2022. Under MSOP, ATGBA has authorized to grant up to 295,565 options to eligible employees in one or more tranches.

The options issued under the MSOP generally are subject to both service and performance conditions. The service condition is typically one year, and the performance conditions are based on the condensed consolidated revenue and adjusted profit before tax of Aeries Technology Group Business Accelerators Pvt Ltd. The stock-based compensation expense is recognized in the condensed consolidated statements of comprehensive income using the straight-line attribution method over the requisite service period if it is probable that the performance target will be achieved.

The following table summarizes the MSOP stock option activity for the nine months ended December 31, 2023:

Schedule of stock option activity
	Shares		Weighted average exercise price		Weighted-average remaining contractual term (in years)		Aggregate intrinsic value
Options outstanding at March 31, 2023		295,565	$	-		-	$	-
Options granted		-		-		-		-
Options exercised		-		-		-		-
Options canceled, forfeited or expired		-		-		-		-
Options outstanding at December 31, 2023		295,565	$	0.12		1.92	$	23,385

Vested and exercisable at December 31, 2023		295,565	$	0.12		1.92	$	23,385

The Company uses the BSM option-pricing model to determine the grant-date fair value of stock options. The determination of the fair value of stock options on the grant date is affected by the estimated underlying common stock price, as well as assumptions regarding a number of complex and subjective variables. These variables include expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, risk-free interest rates, and expected dividends. The grant date fair value of the Company’s stock options granted to employees were estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:


	2022 Grants
Expected term	3.5 years
Expected volatility	40.80	%
Risk free interest rate	3.01	%
Annual dividend yield	0.00	%

During the nine months ended December 31, 2023 and 2022, the Company recorded stock-based compensation expense of $1,626 and $2,482 within “Selling, general & administrative expenses” in the Condensed Consolidated statements of operations, respectively.

During the three months ended December 31, 2023 and 2022, the Company recorded stock-based compensation expense of $0 and $1,425 within “Selling, general & administrative expenses” in the Condensed Consolidated statements of operations, respectively.

There were no amounts capitalized as part of internal-use software under development for the three and nine months ended December 31, 2023 and 2022.

As of December 31, 2023, there was no unrecognized stock-based compensation cost. As of December 31, 2022, the total remaining unrecognized stock-based compensation cost was $3,050.

Aeries Technology, Inc. 2023 Equity Incentive Plan

The board of directors of ATI approved the Aeries Technology, Inc. 2023 Equity Incentive Plan (the “Plan”) on March 11, 2023, subject to approval by ATI’s shareholders’. The Plan was approved by ATI’s shareholders’, on November 2, 2023 and the Plan became effective upon the consummation of the Business Combination. The maximum number of ATI Class A ordinary shares that may be issued under the Plan may not exceed 9,031,027 ATI Class A ordinary shares, subject to certain adjustments set forth in the Plan. No awards have yet been granted under this Plan.

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		$ 1,001,640	$ 614,040	$ 12,240,000
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 44,173,000
Fair Value, Recurring [Member] \| Forward Purchase Agreement Put Option Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	42,256,000
Fair Value, Recurring [Member] \| Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1,048,000	564,650	346,150	6,900,000
Fair Value, Recurring [Member] \| Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	869,000	436,990	267,890	5,340,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		564,650	346,150	6,900,000
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted Investments, at Fair Value		49,992,699	234,716,046	232,320,844
Derivative Liability	1,048,000
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Forward Purchase Agreement Put Option Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	1,048,000	564,650	346,150	6,900,000
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member] \| Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		436,990	267,890	5,340,000
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Forward Purchase Agreement Put Option Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Derivative Liability
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member] \| Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability		436,990	267,890	5,340,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	43,125,000
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Forward Purchase Agreement Put Option Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	42,256,000
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 869,000

Warrant Liabilities

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Warrant Liabilities

Warrant Liabilities

Note 12 - Warrant Liabilities

On October 22, 2021, pursuant to the consummation of the Initial Public Offering (IPO), the Company issued 11,499,991 Public Warrants. Simultaneously with the closing of the IPO, WWAC issued 8,900,000 warrants in a private placement (the “Private Placement Warrants”), at a purchase price of $1.00 per Private Placement Warrant, which included 900,000 Units as a result of the underwriter’s full exercise of its option to purchase up to 900,000 additional warrants, at a purchase price of $1.00 per Private Placement Warrant. On November 6, 2023, WWAC issued 627,810 other Private Placement Warrants to the Sponsor pursuant to the conversion of a promissory note payable to the Sponsor. Upon consummation of the Business Combination, the Company assumed 11,499,991 Public Warrants and 9,527,810 Private Placement Warrants (collectively the “Warrants”).

The Company accounted for the Warrants in accordance with the guidance contained in ASC 815-40 given that certain provisions within the warrant agreement either preclude the warrants from being considered indexed to the ATI’s own stock or the fixed-for-fixed option criteria are not met. On this basis the Public and Private Placement Warrants are classified as a liability and are measured at fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s condensed consolidated statement of operations.

Each whole Warrant entitles the holder thereof to purchase one Class A ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”), for $11.50 per share, subject to adjustment as described herein. Only whole Warrants are exercisable. A holder of the Warrants will not be able to exercise any fraction of a Warrant. The Warrants will expire at 5:00 p.m. New York City time on November 6, 2028, or earlier upon redemption or liquidation. On the exercise of any Warrant, the Warrant exercise price will be paid directly to us.

The Company may redeem the outstanding Warrants:

●

in whole and not in part;

●

at a price of $0.01 per Public Warrant;

●

upon not less than 30 days’ prior written notice of redemption to each Warrant holder; and

●

if, and only if, the last reported sales price of the Class A ordinary shares for any 20 trading days within a 30-trading day period ending on third trading day prior to the date on which the Company sends the notice of redemption to the Warrant holders (the “Reference Value”) equals or exceeds $18.00 per Ordinary Share (as adjusted); provided that the Private Placement Warrants will not be redeemable by the Company under this provision so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees.

The Company may also redeem the outstanding Warrants:

●

in whole and not in part;

●

at $0.10 per warrant

●

upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Class A ordinary shares;

●

if, and only if, the Reference Value equals or exceeds $10.00 per Ordinary Share (as adjusted); provided that if the Reference Value equals or exceeds $18.00 per Ordinary Share (as adjusted), the Private Placement Warrants will not be redeemable by the Company under this provision so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees.

No fractional Class A ordinary shares will be issued upon redemption. If, upon redemption, a holder would be entitled to receive a fractional interest in a share, the Company will round down to the nearest whole number of the number of Class A ordinary shares to be issued to the holder.

Note 6 - Warrant Liabilities

The Company accounted for the 20,400,000 warrants issued in connection with the Initial Public Offering (the 11,500,000 Public Warrants and the 8,900,000 Private Placement Warrants) in accordance with the guidance contained in ASC 815-40. Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant much be recorded as a liability. Accordingly, the Company classifies each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s condensed statement of operations.

Each whole Warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described herein. Only whole Warrants are exercisable. The Warrants will become exercisable on the later of 30 days after the completion of the Initial Business Combination or 12 months from the closing of the Initial Public Offering and will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade.

The exercise price of each Warrant is $11.50 per share, subject to adjustment as described herein. In addition, if we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by our board and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), the exercise price of the Warrants will be adjusted (to the nearest cent) to be equal to 115% of the Newly Issued Price.

The Warrants will become exercisable on the later of:

●

30 days after the completion of the Initial Business Combination or,

●

12 months from the closing of the Initial Public Offering;

provided in each case that we have an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the Warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement).

The Company is not registering Class A ordinary shares issuable upon exercise of the Warrants at this time. However, the Company has agreed that as soon as practicable, but in no event later than fifteen (15) business days, after the closing of the Initial Business Combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the Warrants. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if the Company’s Class A ordinary shares is at the time of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Warrants who exercise their Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required to file or maintain in effect a registration statement, but the Company will be required to use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

The Warrants will expire five years after the completion of the Initial Business Combination or earlier upon redemption or liquidation. On the exercise of any Warrant, the Warrant exercise price will be paid directly to us and not placed in the Trust Account.

Once the Warrants become exercisable, the Company may redeem the outstanding Warrants for cash (except as described herein with respect to the Private Placement Warrants):

●

In whole and not in part;

●

At a price of $0.01 per Warrant;

●

Upon a minimum of 30 days’ prior written notice of redemption, referred to as the 30-day redemption period; and

●

if, and only if, the last sale price of our Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, dividends, reorganization, recapitalizations, and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

The Company will not redeem the Warrants for cash unless a registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the Warrants is effective and a current prospectus relating to those Class A ordinary shares is available throughout the 30-day redemption period. If and when the Warrants become redeemable by the Company, it may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws.

Except as described below, none of the Private Placement Warrants will be redeemable by the Company so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees.

Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except as described below with respect to the Private Placement Warrants):

●

in whole and not in part;

●

at a price of $0.10 per Warrant, provided that holders will be able to exercise their Warrants on a cashless basis prior to redemption and receive that number of Class A ordinary shares determined in part by the redemption date and the “fair market value” of the Class A ordinary shares except as otherwise below;

●

upon a minimum of 30 days’ prior written notice of redemption; and

●

if, and only if, the last sale price of the Company’s Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for share splits, dividends, reorganizations, recapitalizations, and the like) on the trading day prior to the date on which we send the notice of redemption to the warrant holders.

The “fair market value” of the Company’s Class A ordinary shares shall mean the average reported last sale price of the Company’s Class A ordinary shares for the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of Warrants.

Note 6 — Warrant Liabilities

The Warrants will become exercisable on the later of:

●

30 days after the completion of the Initial Business Combination or,

●

12 months from the closing of the Initial Public Offering;

Once the Warrants become exercisable, the Company may redeem the outstanding Warrants for cash (except as described herein with respect to the Private Placement Warrants):

●

In whole and not in part;

●

At a price of $0.01 per Warrant;

●

Upon a minimum of 30 days’ prior written notice of redemption, referred to as the 30-day redemption period; and

●

Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except as described below with respect to the Private Placement Warrants):

●

in whole and not in part;

●

upon a minimum of 30 days’ prior written notice of redemption; and

●

Restatement of Previously Issued Condensed Carve-out Consolidated Financial Statements (Tables)

9 Months Ended

Dec. 31, 2023

Restatement Of Previously Issued Condensed Carve-out Consolidated Financial Statements

Schedule of the restatement on the affected financial statement


Particulars	As Previously Reported December 31, 2022		Restatement Adjustment			As Restated December 31, 2022
Selling, general and administrative expenses		8,202		(304	)		7,898
Total operating expenses		8,202		(304	)		7,898
Income from operations		1,140		304			1,444
Income before income taxes		1,667		304			1,971
Net income		517		304			821
Less: Net income attributable to noncontrolling interest⁽¹⁾		69		56			125
Net income attributable to controlling interest		448		248			696

(1)

Schedule of unaudited consolidated financial information

Particulars

As Previously

Reported

December 31,
2022

Restatement

Adjustment

As Restated

December 31,
2022

In the Statement of Operations

Net income attributable to noncontrolling interest

Nature of Operations (Details Narrative) - USD ($)
$ / shares in Units, $ in Thousands

9 Months Ended

Dec. 31, 2023

Nov. 06, 2023

Mar. 31, 2023

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

^[1]

15,257,666

Transaction costs relating to business combination

$ 0

Warrants outstanding

21,027,801

$ 3,697

Private Placement Warrants [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Purchase of additional shares

9,527,810

Public Warrants [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Purchase of additional shares

11,499,991

Common Stock [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

15,257,666

Ordinary Shares Class A [Member]

$ 0.0001

Redemption of shares

2,697,052

Redemption price

$ 10.69

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

15,257,666

Share outstanding

15,257,666

A A R K [Member]

Ownership, percentage

38.24%

A A R K Shareholders [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Ownership, percentage

61.76%

[1]

Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit)

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Equity [Abstract]

Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit)

Note 13 - Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit)

The condensed consolidated statements of changes in Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit) reflect the reverse recapitalization and Business Combination as mentioned in Note 1, on Demerger and Business Combination, and Reverse Recapitalization. As AARK was deemed to be the acquirer in the Business Combination, all periods prior to the completion of the Business Combination reflect the balances and activity of AARK. The consolidated balances as of March 31, 2023 from the audited financial statements of AARK as of that date, share activity (Class A ordinary shares) and per share amounts in the condensed consolidated statement of change in shareholders’ equity (deficit) were not retroactively adjusted given that the exchange of all the shares held by the owners of AARK as contemplated under the Exchange agreements as set out in Note 11 has not been completed.

Preference shares

The Company is authorized to issue 5,000,000 shares of preference shares, par value $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2023, there were no shares of preference shares issued or outstanding.

Class A ordinary shares

The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. As of December 31, 2023, there were 15,619,004 Class A ordinary shares issued and outstanding, including 4,000,000 Class A ordinary shares subject to the FPAs. Each Class A ordinary share carries one vote and entitles the shareholders’ to ratable rights in dividends and distributions as well as in the event of liquidation.

Class V ordinary shares

The Company is authorized to issue 1 Class V ordinary share with a par value of $0.0001 per share. As of December 31, 2023, there was 1 Class V ordinary share issued and outstanding. The Class V share does not carry any direct economic rights in dividends and other distributions or in an event of liquidation. It does carry voting rights equal to 26% which will ratchet up to 51% voting rights upon occurrence of “extraordinary events” at the ATI level.

Common stock

Pre-combination AARK had only one class of common stock having no par value. Holders of common stock were entitled to one vote per share held. As of June 14, 2023 (immediately prior to the effective date of a stock split), there were 10 shares of common stock outstanding, and the number of shares of common stock outstanding after the Stock Split was 10,000. As a result of stock split, AARK’s shares were retroactively restated as if the transaction occurred at the beginning of the earliest periods presented. Consequently, as of April 1, 2023 and 2022, the AARK’s common stock consisted of 10,000 shares, all of which are issued and fully paid. Upon the liquidation, dissolution or winding up of AARK, common stockholders were entitled to receive a ratable share of the available net assets of AARK after payment of all debts and other liabilities. The common stock had no preemptive, subscription, redemption or conversion rights.

Redeemable noncontrolling interest

As of December 31, 2023, the prior investors of AARK owned 61.76% of the common shares of AARK, and prior investors of ATGBA owned 14.69% of the common shares of ATGBA. The prior investors of AARK and ATGBA have the right to exchange their AARK /ATGBA ordinary shares for Class A ordinary shares of the Company based on the exchange ratio as set out in the Exchange Agreements details of which are set out in Note 11 or cash proceeds based on the Volume Weighted Average Price (“VWAP”) for each of the five consecutive trading days ending on the exchange date, but only if the approval from the Reserve Bank of India or other regulatory approvals are not obtained and subject to other conditions specified in the Exchange Agreement. The exchange is also subject to certain other specified conditions being met, including achieving certain financial and stock price milestones. Given that this is not solely in control of ATI, the noncontrolling interests have been accounted for in accordance with ASC 480-10-S99-1. The redeemable noncontrolling interest has initially been measured at the proportionate share in the net assets of AARK and its subsidiaries in accordance with ASC 805-40-30-3. The cash redemption is not considered to be probable on December 31, 2023 because the specified conditions in relation to EBITDA and revenue have already been met and the RBI and / or applicable regulatory approvals are expected to be received. On this basis the redeemable noncontrolling interest has subsequently been measured by attributing the net income/ loss of AARK pursuant to ASC 810-10.

Note 7 - Shareholders’ Deficit

Preference shares

The Company is authorized to issue 5,000,000 shares of preference shares, par value $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of September 30, 2023 and December 31, 2022, there were no shares of preference shares issued or outstanding.

Class A ordinary shares

The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. As of September 30, 2023 and December 31, 2022, there were no Class A ordinary shares issued and outstanding, excluding 4,718,054 and 23,000,000 Class A ordinary shares subject to possible redemption, respectively.

Class B ordinary shares

The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. As of September 30, 2023 and December 31, 2022, 5,750,000 Class B ordinary shares were issued and outstanding.

Holders of the Class A ordinary shares and holders of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders, except as required by law or stock exchange rule; provided that only holders of the Class B ordinary shares shall have the right to vote on the election of the Company’s directors prior to the initial Business Combination.

The Class B founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as provided herein. In the case that additional Class A ordinary shares, or equity-linked securities (as described herein), are issued or deemed issued in excess of the amounts issued in this offering and related to the closing of our initial business combination, the ratio at which the Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of all Class A ordinary shares issued and outstanding upon the completion of this offering, plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with our initial business combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in the business combination. Prior to our initial business combination, holders of the Class B ordinary shares will have the right to appoint all of our directors and may remove members of the board of directors for any reason in any general meeting held prior to or in connection with the completion of our initial business combination. On any other matter submitted to a vote of our shareholders, holders of the Class B ordinary shares and holders of the Class A ordinary shares will vote together as a single class, except as required by law and subject to the amended and restated memorandum and articles of association.

Note 7 — Shareholders’ Deficit

Preference shares – The Company is authorized to issue 5,000,000 shares of preference shares, par value $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2022 and 2021 there were no shares of preference shares issued or outstanding.

Class A ordinary shares – The Company is authorized to issue 500,000,000 Class A ordinary shares with a par value of $0.0001 per share. As of December 31, 2022 and 2021 there were no Class A ordinary shares issued and outstanding, excluding 23,000,000 Class A ordinary shares subject to possible redemption.

Class B ordinary shares – The Company is authorized to issue 50,000,000 Class B ordinary shares with a par value of $0.0001 per share. As of December 31, 2022 and 2021, 5,750,000 Class B ordinary shares were issued and outstanding.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (h)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
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-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Jun. 14, 2023	Apr. 14, 2023	Apr. 02, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 02, 2022	Dec. 31, 2021
Temporary equity, Redemption price per share		$ 10.57					$ 10.20		$ 10.10
Preferred stock, Par or stated value per share	$ 0.0001	$ 0.0001				$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, Shares authorized	5,000,000	5,000,000				5,000,000	5,000,000		5,000,000
Preferred stock, Shares issued	0	0				0	0		0
Preferred stock, Shares outstanding	0	0				0	0		0
Common stock, Par or stated value per share	$ 0					$ 0
Common stock, Shares issued	0				10,000	10,000		10,000
Common stock, Shares outstanding	0		10			10,000
Common Class A [Member]
Class A ordinary shares redemption per share		$ 0.0001					$ 0.0001		$ 0.0001
Temporary equity, Shares outstanding	4,000,000	4,718,054		4,718,054			23,000,000		23,000,000
Temporary equity, Redemption price per share				$ 10.36
Common stock, Par or stated value per share	$ 0.0001	$ 0.0001					$ 0.0001		$ 0.0001
Common stock, Shares authorized	500,000,000	500,000,000					500,000,000		500,000,000
Common stock, Shares issued	15,619,004	0					0		0
Common stock, Shares outstanding	15,619,004	0					0		0
Common Class B [Member]
Common stock, Par or stated value per share		$ 0.0001					$ 0.0001		$ 0.0001
Common stock, Shares authorized		50,000,000					50,000,000		50,000,000
Common stock, Shares issued		5,750,000					5,750,000		5,750,000
Common stock, Shares outstanding		5,750,000					5,750,000		5,750,000

Stock-Based Compensation (Details 2)	9 Months Ended
Stock-Based Compensation (Details 2)	Dec. 31, 2023
Compensation Related Costs [Abstract]
Expected term	3 years 6 months
Expected volatility	40.80%
Risk free interest rate	3.01%
Annual dividend yield	0.00%

Subsequent Events (Details Narrative) - USD ($)		1 Months Ended
Subsequent Events (Details Narrative) - USD ($)	Apr. 14, 2023	Oct. 16, 2023	Jan. 04, 2024	Dec. 31, 2023	Nov. 03, 2023	Oct. 08, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Ordinary shares						3,733,263
Temporary equity, redemption price per share							$ 10.57	$ 10.20	$ 10.10
Common Class A [Member]
Subsequent Event [Line Items]
Temporary equity stock redeemed during the period shares	18,281,946
Temporary equity, redemption price per share	$ 10.36
Temporary equity, shares outstanding	4,718,054			4,000,000			4,718,054	23,000,000	23,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Ordinary shares					1,342,976
Temporary equity, shares outstanding		3,779,067
Share capital			$ 1,000
Additional Shares			499,999
Subsequent Event [Member] \| Common Class A [Member]
Subsequent Event [Line Items]
Temporary equity stock redeemed during the period shares		938,987
Temporary equity, redemption price per share		$ 10.66
Estimated outstanding balance in restricted assets account		$ 40,300,000

Nature of Operations (Details)

Dec. 31, 2023

Public Shareholders (Redeemable Class A ordinary shares), including Bonus Shares

3,157,469

^[1]

Shares held by Worldwide Webb Acquisition Sponsor, LLC (the “Sponsor”) and other initial holders

2,750,000

^[2],[3]

Shares held by Innovo Consultancy DMCC

5,638,530

^[4]

Shares held by FPA Holders

3,711,667

^[5]

Total

15,257,666

^[6]

[1]	Includes 87,133 Bonus Shares issued to the Company’s public shareholders and 1,024,335 “Extension Shares” issued to certain holders of Class A ordinary shares (the “Holders”) in accordance with the Non-Redemption Agreement entered into between WWAC, the Sponsor, and the Holders of Class A ordinary shares. Also includes 288,333 shares purchased by the Forward Purchase Agreement holders in the open market or via redemption reversals prior to the consummation of the Business Combination.
[2]	Does not include (i) 1,500,000 Class B ordinary shares forfeited upon the consummation of the Business Combination, or (ii) 1,500,000 Class B ordinary shares forfeited pursuant to a Support Agreement with the Sponsor.
[3]	Includes 1,500,000 Class A ordinary shares issued to the Sponsor and 1,250,000 Class A ordinary shares issued to certain anchor investors upon conversion of Class B ordinary shares concurrently with the consummation of the Business Combination. 3,000,000 Class B ordinary shares were forfeited by the Sponsor upon the consummation of the Business Combination.
[4]	Includes (i) 3,000,000 Class A Shares reissued against 3,000,000 Class B Shares forfeited by the Sponsor upon consummation of the Business Combination as per (2) above, and (ii) 2,638,530 remaining Bonus Shares issued to Innovo.
[5]	Represents a new issuance of Class A ordinary shares to the Forward Purchase Agreement holders in accordance with the Forward Purchase Agreement.
[6]	Does not include 10,000 AARK ordinary shares and 655,788 Aeries Technology Group Business Accelerators Private Limited’s ordinary shares that represent noncontrolling interest in AARK. These shares will be exchangeable (together with the proportionate reduction in the voting power of the Class V Share, and in the case of the exchange of all AARK ordinary shares, the forfeiture and cancellation of the Class V Share) into shares in Aeries Technology, Inc. in connection with the Exchange Agreements, which is further discussed in Note 11.

Revenue (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
Revenue (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 1,564		$ 0
Deferred revenue recognized	181	$ 228
Deferred revenue	155		193
Deferred revenue, non current	$ 0		$ 0

Description of Organization, Business Operations, Liquidity, and Going Concern (Details Narrative) - USD ($)

1 Months Ended

9 Months Ended

10 Months Ended

12 Months Ended

Apr. 14, 2023

Nov. 15, 2021

Oct. 16, 2023

Aug. 16, 2022

Nov. 15, 2021

Oct. 22, 2021

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Jun. 01, 2023

Mar. 31, 2023

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Entity incorporation, date of incorporation

Mar. 05, 2021

proceeds from initial public offering

200,000

$ 230,000,000

Class of warrant or right issued during period, Warrants

20,400,000

Proceeds from Issuance of Private Placement

$ 8,900,000

Offering Costs

$ 21,834,402

Deferred Underwriting Fees Payable Non Current

$ 8,050,000

8,050,000

Underwriting fees

4,600,000

Other Offering Costs

9,184,402

Offering Costs on Founder Shares Offered to Anchor Investors

$ 8,306,250

8,306,250

Investment of cash in Trust Account

$ 232,300,000

Period within which business combination shall be consummated from the closing of initial public offer

$ 0

24 months

Temporary equity, redemption price per share

$ 10.57

$ 10.10

$ 10.20

$ 10.10

Liquidation basis of accounting, Accrued costs to dispose of assets and liabilities

^[1]

15,257,666

$ 100,000

Cash

8,412

$ 503,204

48,126

$ 503,204

Net working capital

$ 9,337,388

$ 3,649,365

Percentage of fair market value of shares repurchased

1.00%

On Or After First January Two Thousand And Twenty Three [Member] | Inflation Reduction Act Of Two Thousand And Twenty Two [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Percentage of excise tax on certain repurchases of stock at market value

1.00%

Subsequent Event [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Period within which business combination shall be consummated from the closing of initial public offer

30 months

Temporary equity, shares outstanding

3,779,067

Minimum [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Prospective assets of acquiree as a percentage of fair value of assets in the trust account

80.00%

Minimum [Member] | Subsequent Event [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Period within which business combination shall be consummated from the closing of initial public offer

24 months

Maximum [Member] | Subsequent Event [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Period within which business combination shall be consummated from the closing of initial public offer

25 months

Common Class A [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Temporary equity stock redeemed during the period shares

$ 0.0001

18,281,946

Temporary equity, redemption price per share

$ 10.36

Repayment of common stocks subject to possible redemption

$ 189,434,603

Estimated outstanding balance in restricted assets accounts

$ 48,887,722

Temporary equity, shares outstanding

4,718,054

4,000,000

4,718,054

23,000,000

Common Class A [Member] | Subsequent Event [Member]

361,388

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Temporary equity stock redeemed during the period shares

938,987

Temporary equity, redemption price per share

$ 10.66

Aggregate redemption amount

$ 10,000,000.0

Estimated outstanding balance in restricted assets account

$ 40,300,000

Common Class A [Member] | Public Share [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Percentage of Redemption of Common Stock

$ 0.0001

100.00%

Period within which business combination shall be consummated from the closing of initial public offer

30 months

18 months

Private Placement Warrants [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Class of warrant or right issued during period, Warrants

900,000

8,000,000

8,900,000

Class of warrant or right issued during period, Warrants, Price per warrant

$ 1.00

Proceeds from Issuance of Private Placement

$ 900,000

$ 8,000,000

IPO [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Shares issued, Price per share

20,000,000

$ 10.00

proceeds from initial public offering

$ 200,000,000

Over-Allotment Option [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Over-Allotment Option [Member] | Maximum [Member]

3,000,000

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

3,000,000

Public Warrants [Member]

Shares issued, Price per share

1,500,000

$ 10.00

Proceeds from Issuance of Warrants

$ 30,000,000

PIPE Financing [Member] | Subscription Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Common stock allocated to investors

1,033,058

Monetary value of common stock allocated to investors

$ 5,000,000

Schedule of reconciliation of net income per share

Shares outstanding

[1]

Short-term borrowings (Details Narrative) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Dec. 07, 2022	Dec. 31, 2023	Mar. 31, 2023
Line of Credit Facility [Line Items]
Exchange Rate	$ 138		$ 2,433
Debt Instrument, Interest Rate During Period	10.75%	0.80%	1.20%
Legal consultancy services		This resulted in a reduction in the total amount owed by ATI to Shearman & Sterling LLP from $4,842 of accounts payable to $4,000 of interest-free and unsecured promissory note, payable in four equal tranches. Subsequently, the promissory note was amended upon payment of $1,500, wherein the balance $2,500 was promised to be paid in two equal tranches. $2,500 owed to Sherman & Sterling LLP has been disclosed as short-term debt, as ATI has an unconditional obligation to settle it within twelve months from December 31, 2023.
Insurance for its directors		After the Closing Date, ATI obtained an insurance policy for its directors and senior officers with maximum coverage of $5,000. The total premium payable in relation to this was $880 out of which $176 was paid upfront and balance $704 is payable in ten equal monthly instalments of $73. The arrangement represents a financing transaction where the premium payable has been deferred. The interest rate under the arrangement is 9.2 % per annum. The cumulative interest payable throughout the tenure under the arrangement amounts to $30 and the same would be recognized as part of the interest expense in the condensed consolidated statement of operations. During the nine months and three months ended December 31, 2023, the interest expense so recognized was $10. The balance premium payable as at December 31, 2023 is $641 and has been disclosed as a current liability since ATI has an unconditional obligation to settle it by September 2024.
Amended Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 160,000
Exchange Rate		1,925
Amended Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity		320,000
Exchange Rate		3,850
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Fund drawdown amount		$ 3,034	$ 1,364

Warrant Liabilities (Details Narrative) - $ / shares	1 Months Ended			9 Months Ended		12 Months Ended
Warrant Liabilities (Details Narrative) - $ / shares	Nov. 15, 2021	Oct. 22, 2021	Sep. 30, 2021	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2023	Nov. 01, 2022
Class of Warrant or Right [Line Items]
Class of warrant or right issued during period, Warrants				20,400,000		20,400,000
Class of warrant or right redemption threshold consecutive trading days			30 days	30 days
Class of warrant or right, threshold period for exercise from date of closing public offering			12 months	12 months
Number of business day after the closing of the initial Business Combination for registration				15 days
Class Of Warrants Redemption Price Per Unit				$ 0.10		$ 0.10
Initial Public Offering Description		the consummation of the Initial Public Offering (IPO), the Company issued 11,499,991 Public Warrants. Simultaneously with the closing of the IPO, WWAC issued 8,900,000 warrants in a private placement (the “Private Placement Warrants”), at a purchase price of $1.00 per Private Placement Warrant, which included 900,000 Units as a result of the underwriter’s full exercise of its option to purchase up to 900,000 additional warrants, at a purchase price of $1.00 per Private Placement Warrant. On November 6, 2023, WWAC issued 627,810 other Private Placement Warrants to the Sponsor pursuant to the conversion of a promissory note payable to the Sponsor. Upon consummation of the Business Combination, the Company assumed 11,499,991 Public Warrants and 9,527,810 Private Placement Warrants (collectively the “Warrants”).
Sale price							$ 18.00
Share Price Equal or Exceeds Ten Rupees per dollar [Member]
Class of Warrant or Right [Line Items]
Class Of Warrants Redemption Price Per Unit				0.01				$ 0.01
Common Class A [Member]
Class of Warrant or Right [Line Items]
Class of warrant or right, Exercise price of warrants or rights				$ 11.50		$ 11.50
Class of Warrant or Right, Exercise Price Adjustment Percentage Higher of Market Value				2.00%		2.00%
Common Class A [Member] \| Share Price Equal or Exceeds Ten Rupees per dollar [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price Adjustment Percentage Higher of Market Value				115.00%		115.00%
Common Class A [Member] \| Share Price Equal or Less Nine point Two Rupees per dollar [Member]
Class of Warrant or Right [Line Items]
Share price				$ 9.20		$ 9.20
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Class of warrant or right issued during period, Warrants				11,500,000		11,500,000
Class of warrant or right, Exercise price of warrants or rights				$ 11.50		$ 11.50	$ 11.50
Public Warrants [Member] \| Share Price Equal or Exceeds Eighteen Rupees per dollar [Member]
Class of Warrant or Right [Line Items]
Share price				$ 18.00		$ 18.00
Number Of Consecutive Trading Days For Determining Share Price				20 days	20 days
Number Of Days Of Notice To Be Given For Redemption Of Warrants				30 days		30 days
Public Warrants [Member] \| Common Class A [Member] \| Share Price Equal or Exceeds Eighteen Rupees per dollar [Member]
Class of Warrant or Right [Line Items]
Number Of Consecutive Trading Days For Determining Share Price				10 days		10 days
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Class of warrant or right issued during period, Warrants	900,000	8,000,000		8,900,000		8,900,000

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities
Net (loss) income	$ (1,020,930)	$ 9,626,072
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Gain on marketable securities (net), dividends and interest, held in Trust Account	(4,711,256)	(1,121,345)
Formation and operating expenses funded by note payable through Sponsor	87,810	(6,499)
Change in fair value of derivative warrant liabilities	387,600	(10,404,000)
Formation and operating expenses paid in exchange for Founder Shares		(202,458)
Changes in operating assets and liabilities:
Prepaid and other assets	271,966	286,722
Accounts payable	5,675,205	28,540
Accrued expenses	(656,672)	1,383,234
Net cash provided by (used in) operating activities	33,723	(409,734)
Cash Flows from Investing Activities
Redemption of Class A ordinary shares	189,434,603
Net cash provided by investing activities	189,434,603
Cash Flows from Financing Activities
Redemption of Class A ordinary shares	(189,434,603)
Proceeds from note payable and advances from related party	270,000
Deferred legal fees paid	(343,437)
Net cash used in financing activities	(189,508,040)
Net decrease in cash	(39,714)	(409,734)
Cash - beginning of period	48,126	503,204
Cash - end of period	8,412	93,470
Supplemental disclosure of noncash investing and financing activities:
Remeasurement of Class A ordinary shares to redemption value	4,711,256	1,042,189
Deferred underwriting fees payable		(7,847,542)
Offering costs and formation costs paid through promissory note - related party		$ 201,962

Net loss per Share (Tables)

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Earnings Per Share [Abstract]


Numerator:
Net income / (loss) attributable to controlling interest for the period from November 6, 2023 through December 31, 2023	$	(16,626	)

Denominator:
Weighted average shares outstanding of Class A ordinary shares, basic and diluted for the period from November 6, 2023 through December 31, 2023		15,389,062

Net loss per share Ordinary Shares
Basic	$	(1.08	)
Diluted	$	(1.08	)


	For The Three Months Ended September 30, 2023			For The Three Months Ended September 30, 2022			For The Nine Months Ended September 30, 2023			For The Nine Months Ended September 30, 2022
Redeemable Class A Ordinary Shares
Numerator: Net (loss) income allocable to Redeemable Class A Ordinary Shares
Net (loss) income allocable to Redeemable Class A Ordinary Shares	$	(685,915	)	$	(278,460	)	$	(682,886	)	$	7,700,858
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares
Basic and diluted weighted average shares outstanding, Redeemable Class A		4,718,054			23,000,000			11,615,638			23,000,000
Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Non-Redeemable Class B Ordinary Shares
Numerator: Net (loss) income allocable to non-redeemable Class B Ordinary Shares
Net (loss) income allocable to non-redeemable Class B Ordinary Shares	$	(835,940	)	$	(69,615	)	$	(338,044	)	$	1,925,214
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000			5,750,000			5,750,000			5,750,000
Basic and diluted net (loss) income per share, Class B non-redeemable ordinary shares	$	(0.15	)	$	(0.01	)	$	(0.06	)	$	0.33

Schedule of income (loss) per share, basic and diluted
	For The Year Ended December 31, 2022		For the period from March 5, 2021 (Inception) through December 31, 2021
Redeemable Class A Ordinary Shares
Numerator: Net income (loss) allocable to Redeemable Class A Ordinary Shares	$	7,807,770	$	(1,322,260	)
Denominator: Weighted Average Share Outstanding, Redeemable Class A Ordinary Shares		23,000,000		5,158,940
Basic and diluted net income (loss) per share, Redeemable Class A	$	0.34	$	(0.26	)

Non-Redeemable Class B Ordinary Shares
Numerator: Net income (loss) allocable to non-redeemable Class B Ordinary Shares	$	1,951,943	$	(1,311,439	)
Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares		5,750,000		5,116,722
Basic and diluted net income (loss) per share, non-redeemable ordinary shares	$	0.34	$	(0.26	)

Shareholders’ Deficit

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Equity [Abstract]

Shareholders’ Deficit

Note 13 - Redeemable Noncontrolling Interest and Shareholders’ Equity (Deficit)

Preference shares

Class A ordinary shares

Class V ordinary shares

Common stock

Redeemable noncontrolling interest

Note 7 - Shareholders’ Deficit

Preference shares

The Company is authorized to issue 5,000,000 shares of preference shares, par value $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of September 30, 2023 and December 31, 2022, there were no shares of preference shares issued or outstanding.

Class A ordinary shares

Class B ordinary shares

Note 7 — Shareholders’ Deficit

The entire disclosure for equity.

Shareholders’ Deficit (Details Narrative) - $ / shares	Dec. 31, 2023	Sep. 30, 2023	Jun. 14, 2023	Apr. 14, 2023	Apr. 02, 2023	Mar. 31, 2023	Dec. 31, 2022	Apr. 02, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	5,000,000	5,000,000				5,000,000	5,000,000		5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001				$ 0.0001	$ 0.0001		$ 0.0001
Preferred Stock, Shares Issued	0	0				0	0		0
Preferred Stock, Shares Outstanding	0	0				0	0		0
Common Stock, Par or Stated Value Per Share	$ 0					$ 0
Common Stock, Shares, Issued	0				10,000	10,000		10,000
Common Stock, Shares, Outstanding	0		10			10,000
Percentage of common stock outstanding		20.00%							20.00%
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	500,000,000	500,000,000					500,000,000		500,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001					$ 0.0001		$ 0.0001
Common Stock, Shares, Issued	15,619,004	0					0		0
Common Stock, Shares, Outstanding	15,619,004	0					0		0
Temporary equity, Shares outstanding	4,000,000	4,718,054		4,718,054			23,000,000		23,000,000
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized		50,000,000					50,000,000		50,000,000
Common Stock, Par or Stated Value Per Share		$ 0.0001					$ 0.0001		$ 0.0001
Common Stock, Shares, Issued		5,750,000					5,750,000		5,750,000
Common Stock, Shares, Outstanding		5,750,000					5,750,000		5,750,000

CONDENSED STATEMENTS OF CHANGES IN TEMPORARY EQUITY AND SHAREHOLDERS' DEFICIT (Unaudited) - USD ($)	Temporary Equity Class A [Member]	Ordinary Class B Shares [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Mar. 03, 2021
Balance at the beginning (Shares) at Mar. 03, 2021
Gain on settlement of underwriting fees
Remeasurement of Class A ordinary shares to redemption value	$ 29,918,902		(4,447,725)	(25,471,177)	(29,918,902)
Net loss				(2,633,699)	(2,633,699)
Ending balance, value at Dec. 31, 2021	$ 232,300,000	$ 575		(19,798,626)	(19,798,051)
Balance at the end (Shares) at Dec. 31, 2021	23,000,000	5,750,000
Net loss				3,799,755	3,799,755
Ending balance, value at Mar. 31, 2022	$ 232,300,000	$ 575		(15,998,871)	(15,998,296)
Balance at the end (Shares) at Mar. 31, 2022	23,000,000	5,750,000
Beginning balance, value at Dec. 31, 2021	$ 232,300,000	$ 575		(19,798,626)	(19,798,051)
Balance at the beginning (Shares) at Dec. 31, 2021	23,000,000	5,750,000
Gain on settlement of underwriting fees				7,847,542	7,847,542
Remeasurement of Class A ordinary shares to redemption value	2,316,046			(2,316,046)	(2,316,046)
Net loss				9,759,713	9,759,713
Ending balance, value at Dec. 31, 2022	$ 234,616,046	$ 575		(4,507,417)	(4,506,842)
Balance at the end (Shares) at Dec. 31, 2022	23,000,000	5,750,000
Beginning balance, value at Mar. 31, 2022	$ 232,300,000	$ 575		(15,998,871)	(15,998,296)
Balance at the beginning (Shares) at Mar. 31, 2022	23,000,000	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 85,071			(85,071)	(85,071)
Net loss				6,174,392	6,174,392
Ending balance, value at Jun. 30, 2022	$ 232,385,071	$ 575		(9,909,550)	(9,908,975)
Balance at the end (Shares) at Jun. 30, 2022	23,000,000	5,750,000
Gain on settlement of underwriting fees				7,847,542	7,847,542
Remeasurement of Class A ordinary shares to redemption value	957,118			(957,118)	(957,118)
Net loss				(348,075)	(348,075)
Ending balance, value at Sep. 30, 2022	$ 233,342,189	$ 575		(3,367,201)	(3,366,626)
Balance at the end (Shares) at Sep. 30, 2022	23,000,000	5,750,000
Beginning balance, value at Dec. 31, 2022	$ 234,616,046	$ 575		(4,507,417)	(4,506,842)
Balance at the beginning (Shares) at Dec. 31, 2022	23,000,000	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 2,369,220			(2,369,220)	(2,369,220)
Net loss				(1,532,112)	(1,532,112)
Ending balance, value at Mar. 31, 2023	$ 236,985,266	$ 575		$ (8,408,749)	$ (8,408,174)
Balance at the end (Shares) at Mar. 31, 2023	23,000,000	5,750,000
Redemption of Class A ordinary shares	(189,434,603)
Redemption of Class A ordinary shares (Shares)	(18,281,946)
Remeasurement of Class A ordinary shares to redemption value	$ 1,711,537			$ (1,711,537)	$ (1,711,537)
Net loss				2,033,037	2,033,037
Ending balance, value at Jun. 30, 2023	$ 49,262,200	$ 575		(8,087,249)	(8,086,674)
Balance at the end (Shares) at Jun. 30, 2023	4,718,054	5,750,000
Remeasurement of Class A ordinary shares to redemption value	$ 630,499			(630,499)	(630,499)
Net loss				(1,521,855)	(1,521,855)
Ending balance, value at Sep. 30, 2023	$ 49,892,699	$ 575		$ (10,239,603)	$ (10,239,028)
Balance at the end (Shares) at Sep. 30, 2023	4,718,054	5,750,000

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 18,897	$ 12,691	$ 52,805	$ 38,027
North America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	14,533	11,761	40,899	35,739
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,364	$ 930	$ 11,906	$ 2,288

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

Schedule of Short-term Borrowings

Short-term borrowings (Tables)

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Short-term Borrowings
	December 31, 2023		March 31, 2023
Short-term borrowings	$	6,225	$	1,364
Current portion of vehicle loan		13		12
	$	6,238	$	1,376

Statements of Cash Flows - USD ($)	10 Months Ended	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2021	Dec. 31, 2022
Cash Flows from Operating Activities
Net income (loss)	$ (2,633,699)	$ 9,759,713
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Gain on marketable securities, dividends and interest, held in Trust Account	(20,844)	(2,395,202)
Transaction costs allocated to derivative warrant liability	396,497
Formation costs funded by note payable through Sponsor	22,347
Gain on settlement of underwriting fees		(202,458)
Change in fair value of derivative liabilities	1,978,800	(11,625,960)
Formation costs paid in exchange for issuance of ordinary shares	20,421
Changes in operating assets and liabilities:
Prepaid and other assets	(702,920)	390,272
Accounts payable	2,810	673,842
Accrued expenses	97,074	2,953,176
Net cash provided by (used in) operating activities	(839,514)	(446,617)
Cash Flows from Investing Activities
Investment of cash into Trust Account	(232,300,000)
Net cash provided by investing activities	(232,300,000)
Cash Flows from Financing Activities
Proceeds from promissory note payable - related party	65,000
Repayment of promissory note payable - related party	(5,000)	(8,461)
Proceeds from sale of Class A ordinary shares, gross	230,000,000
Proceeds from sale of Private Placement Warrants	8,900,000
Offering costs paid	(5,317,282)
Net cash used in financing activities	233,642,718	(8,461)
Net decrease in cash	503,204	(455,078)
Cash - beginning of period		503,204
Cash - end of period	503,204	48,126
Supplemental disclosure of noncash investing and financing activities:
Initial Class A shares subject to possible redemption	202,381,098
Remeasurement of Class A shares to redemption value	29,918,902	2,316,046
Offering costs included in accrued expenses	83,237
Offering costs paid through promissory note - related party	126,114
Offering costs paid through prepaid legal expense funded by sponsor	4,579
Offering costs on Founder Shares offered to Anchor Investors	8,306,250
Deferred legal fees	343,437
Deferred underwriting fees payable	8,050,000
Initial derivative warrant liabilities	10,261,200
Gain on settlement of underwriting fees		$ (7,847,542)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' DEFICIT (Unaudited) - USD ($) $ in Thousands	Redeemable Noncontrolling Interest [Member]	Ordinary Shares Class A [Member]	Ordinary Shares Class V [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total Stockholders Equitydeficit [Member]	Noncontrolling Interest [Member]	Total
Balance as at September 30, 2022 at Mar. 31, 2022		$ 0		$ 3,328	$ 4,872	$ (644)	$ 7,556	$ 1,140	$ 8,696
Balance at the beginning (Shares) at Mar. 31, 2022		10,000
Net income for the period					1,158		1,158	200	1,358
Other comprehensive loss						(274)	(274)	(47)	(321)
Balance as at December 31, 2022 (restated) at Jun. 30, 2022		$ 0		3,328	6,030	(918)	8,440	1,293	9,733
Balance at the end (Shares) at Jun. 30, 2022		10,000
Net income for the period					(192)		(192)	(30)	(222)
Other comprehensive loss						(279)	(279)	(48)	(327)
Stock-based compensation				1,057			1,057		1,057
Net changes in net shareholders’ investment				6			6		6
Balance as at December 31, 2022 (restated) at Sep. 30, 2022		$ 0		4,391	5,838	(1,197)	9,032	1,215	10,247
Balance at the end (Shares) at Sep. 30, 2022		10,000
Net income for the period					(270)		(270)	(45)	(315)
Other comprehensive loss						(57)	(57)	(10)	(67)
Stock-based compensation				1,425			1,425		1,425
Net changes in net shareholders’ investment				12			12		12
Balance as at December 31, 2022 (restated) at Dec. 31, 2022		$ 0		5,828	5,568	(1,254)	10,142	1,160	11,302
Balance at the end (Shares) at Dec. 31, 2022		10,000
Balance as at September 30, 2022 at Mar. 31, 2023				7,221	6,318	(1,349)	12,190	1,279	13,469
Balance at the beginning (Shares) at Mar. 31, 2023		10,000
Transition period adjustment pursuant to ASC 326, net of tax					(190)		(190)	(33)	(223)
Adjusted Balance, value				7,221	6,128	(1,349)	12,000	1,246	13,246
Adjusted Balance, Shares		10,000
Net income for the period					421		421	73	494
Other comprehensive loss						(12)	(12)	(2)	(14)
Stock-based compensation				1,374			1,374		1,374
Net changes in net shareholders’ investment				(10)			(10)		(10)
Balance as at December 31, 2022 (restated) at Jun. 30, 2023				8,585	6,549	(1,361)	13,773	1,317	15,090
Balance at the end (Shares) at Jun. 30, 2023		10,000
Net income for the period					819		819	108	927
Other comprehensive loss						(164)	(164)	(28)	(192)
Stock-based compensation				252			252		252
Net changes in net shareholders’ investment
Balance as at December 31, 2022 (restated) at Sep. 30, 2023				8,837	7,368	(1,525)	14,680	1,397	16,077
Balance at the end (Shares) at Sep. 30, 2023		10,000
Share in Pre-Merger net income					238		238	(44)	194
Share in Pre-Merger other comprehensive income						7	7	1	8
Net income for the period	154				(16,649)		(16,649)		(16,649)
Other comprehensive loss	8					4	4		4
Reclassification of negative additional paid-in capital				28,752	(28,752)
Reverse Recapitalization, net of transaction expenses (Note 1)	9,581	$ 2		(38,492)	(4,701)	936	(42,255)	(1,354)	(43,609)
Reverse Recapitalization, net of transaction expenses (Note 1), Shares		15,247,666	1
Settlement of accounts payable through issuance of shares				903			903		903
Settlement of accounts payable through issuance of shares, Shares		361,338
Balance as at December 31, 2022 (restated) at Dec. 31, 2023	$ 9,743	$ 2			$ (42,496)	$ (578)	$ (43,072)		$ (43,072)
Balance at the end (Shares) at Dec. 31, 2023		15,619,004	1

Revenue (Tables)

9 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Schedule of Disaggregation of Revenue
	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
North America	$	14,533	$	11,761	$	40,899	$	35,739
Asia Pacific and Other		4,364		930		11,906		2,288
Total revenue	$	18,897	$	12,691	$	52,805	$	38,027

Employee Compensation and Benefits (Tables)

9 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Other comprehensive loss

Schedule of Other comprehensive loss
	Three Months Ended December 31,						Nine Months Ended December 31,
	2023			2022			2023			2022
Net actuarial loss / (gain)	$	(14	)	$	(86	)	$	100		$	(51	)
Amortization of net actuarial (gain)		(21	)		(15	)		(64	)		(47	)
Deferred tax expense / (benefit)		9			25			(9	)		25
Unrecognized actuarial loss / (gain) on employee benefit plan obligations	$	(26	)	$	(76	)	$	27		$	(73	)

Schedule of net defined benefit plan costs


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Service costs	$	112	$	83	$	338	$	255
Interest costs		24		13		74		39
Amortization of net actuarial loss		21		15		64		47
Net defined benefit plan costs	$	157	$	111	$	476	$	341

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended				9 Months Ended				10 Months Ended	12 Months Ended	22 Months Ended
	Nov. 15, 2021	Oct. 22, 2021	Sep. 17, 2021	Mar. 31, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2022	Jun. 14, 2023	Mar. 31, 2023	Feb. 28, 2023	Mar. 06, 2021	Mar. 05, 2021	Mar. 02, 2021
Related Party Transaction [Line Items]
Common stock, Shares outstanding					0				0							10	10,000
Common stock par or stated value per share					$ 0				$ 0								$ 0
Stock Issued During Period, Value, Issued for Services													$ 25,000
Related party transaction administrative service fee payable maximum threshold limit						$ 160,000				$ 160,000								$ 160,000
Selling general And administrative expense					$ 5,313,000		$ 2,025,000		$ 12,321,000		$ 7,898,000
Debt instrument outstanding						1,803,610,000				1,803,610,000
Notes payable current						557,810	200,000			557,810	200,000		208,461	$ 200,000	$ 200,000
Accounts payable						6,351,857	676,652			$ 6,351,857	676,652		2,810	$ 676,652	676,652
Class of warrant or right issued during period, Warrants										20,400,000				20,400,000
Proceeds from Issuance of Private Placement													8,900,000
Private Placement Warrants [Member]
Related Party Transaction [Line Items]
Class of warrant or right issued during period, Warrants	900,000	8,000,000								8,900,000				8,900,000
Class of warrant or right issued during period, Warrants, Price per warrant	$ 1.00	$ 1.00
Proceeds from Issuance of Private Placement	$ 900,000	$ 8,000,000
Unsecured promissory note [Member]
Related Party Transaction [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity																			$ 300,000	$ 300,000
Debt Instrument, Convertible, Warrants issued						15,000,000,000				$ 15,000,000,000
Administrative Service Fee [Member]
Related Party Transaction [Line Items]
Selling general And administrative expense															20,000
Working Capital Loan [Member]
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Warrants issued						$ 1,500,000	$ 1,500,000			$ 1,500,000	$ 1,500,000			$ 1,500,000	$ 1,500,000
Warrants issued price per warrant						$ 1.00	$ 1.00			$ 1.00	$ 1.00			$ 1.00	$ 1.00
Sponsor [Member]
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Warrants issued						$ 1,500,000	$ 1,500,000			$ 1,500,000	$ 1,500,000			$ 1,500,000	$ 1,500,000
Share price						$ 1.00	$ 1.00			$ 1.00	$ 1.00			$ 1.00	$ 1.00
Accounts payable						$ 172,116	$ 172,116			$ 172,116	$ 172,116		0	$ 172,116	$ 172,116
Accrued Liabilities						50,600	30,600			50,600	30,600		11,500	30,600	30,600
Sponsor [Member] \| Private Placement Warrants [Member]
Related Party Transaction [Line Items]
Proceeds from Issuance of Private Placement		$ 8,000,000
Related Party [Member]
Related Party Transaction [Line Items]
Notes payable current						557,810	200,000			557,810	200,000		208,461	200,000	200,000
Other liabilities						222,716	$ 202,716			222,716	$ 202,716		$ 11,500	202,716	$ 202,716
Related Party [Member] \| Administrative Service Fee [Member]
Related Party Transaction [Line Items]
Operating costs and expenses										10,000				10,000
Selling general And administrative expense						$ 0		$ 300,000,000		20,000		$ 900,000,000		120,000
Private Placement including Over Allotment Option [Member] \| Sponsor [Member]
Related Party Transaction [Line Items]
Class of warrants or rights period upto which transfer is restricted		30 days
Private Placement including Over Allotment Option [Member] \| Sponsor [Member] \| Private Placement Warrants [Member]
Related Party Transaction [Line Items]
Class of warrant or right issued during period, Warrants		8,000,000
Class of warrant or right issued during period, Warrants, Price per warrant		$ 1.00
Private Placement including Over Allotment Option [Member] \| Sponsor [Member] \| Additional Private Placement Warrants [Member]
Related Party Transaction [Line Items]
Class of warrant or right issued during period, Warrants		900,000
Founder Shares [Member]
Related Party Transaction [Line Items]
Excess fair value over consideration of the founder shares										$ 8,306,250				$ 8,306,250
Founder Shares [Member] \| Ten Anchor Investors [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Issued for Services										1,250,000				1,250,000
Common Class B [Member]
Related Party Transaction [Line Items]
Common stock, Shares outstanding						5,750,000	5,750,000			5,750,000	5,750,000		5,750,000	5,750,000	5,750,000
Common stock par or stated value per share						$ 0.0001	$ 0.0001			$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001
Common Class B [Member] \| Founder Shares [Member]
Related Party Transaction [Line Items]
Common stock, Shares outstanding				8,625,000																	8,625,000
Common stock par or stated value per share				$ 0.001		0.0001	0.0001			0.0001	0.0001			0.0001	0.0001						$ 0.001
Stock Issued During Period, Value, Issued for Services				$ 25,000
Stock repurchased during period, Shares			2,875,000
Common Class B [Member] \| Founder Shares [Member] \| Sponsor [Member]
Related Party Transaction [Line Items]
Common stock par or stated value per share						$ 0.005	$ 0.005			$ 0.005	$ 0.005			$ 0.005	$ 0.005
Common Class B [Member] \| Founder Shares [Member] \| Over-Allotment Option [Member]
Related Party Transaction [Line Items]
Common stock, Other shares, Outstanding			750,000
Common Class B [Member] \| Founder Shares [Member] \| Previously Reported [Member]
Related Party Transaction [Line Items]
Common stock, Shares outstanding			8,625,000										5,750,000

Description of Organization, Business Operations, and Going Concern

9 Months Ended

12 Months Ended

Sep. 30, 2023

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Organization, Business Operations, and Going Concern

Note 1 - Description of Organization, Business Operations, Liquidity, and Going Concern

Organization and General

Liquidity and Going Concern Considerations

Risks and Uncertainties

Inflation Reduction Act of 2022

Note 1 — Description of Organization, Business Operations, and Going Concern

Organization and General

Initial Business Combination

Liquidity and Going Concern Consideration

In connection with the Company’s assessment of going concern considerations in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the need for additional liquidity and the pending mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after April 22, 2023. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

Risks and Uncertainties

Inflation Reduction Act of 2022

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended			12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Class A ordinary shares subject to possible redemption	$ 49,892,699			$ 234,616,046		$ 232,300,000
Remeasurement of Class A ordinary shares to redemption value				4,711,256		2,316,046	$ 29,918,902
Redemption of Class A ordinary shares				(189,434,603)
Class A ordinary shares subject to possible redemption		$ 234,616,046		$ 49,892,699	$ 234,616,046	$ 234,616,046	232,300,000
Gross proceeds							230,000,000
Class A ordinary shares issuance costs							(21,834,402)
Fair value of Public Warrants at issuance							$ (5,784,500)
Customer One [Member]
Concentration of credit risk, percentage	13.90%	16.20%	14.40%		16.50%
Customer Two [Member]
Concentration of credit risk, percentage	12.90%	15.60%	12.70%		15.40%
Customer Three [Member]
Concentration of credit risk, percentage		14.70%	10.30%		12.80%
Customer Four [Member]
Concentration of credit risk, percentage		10.00%			10.10%
Customer Five [Member]
Concentration of credit risk, percentage		10.00%

Stock-Based Compensation (Details Narrative) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 01, 2020	Sep. 23, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Compensation Related Costs [Abstract]
Shares issued under ESOP	59,900	295,565					59,900
Stock-based compensation expense			$ 0	$ 1,425	$ 1,626	$ 2,482
Capitalized internal-use software			$ 0	$ 0	0	0
Unrecognized stock-based compensation cost					$ 0	$ 3,050

Related Party Transactions

9 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Dec. 31, 2022

Related Party Transactions

Note 9 - Related Party Transactions

Schedule of Related Party Transactions
Name of the related party		Relationship
Aark II Pte Limited		Affiliate entity
Aarx Singapore Pte Ltd		Affiliate entity
Aeries Technology Products And Strategies Private Limited (“ATPSPL”)		Affiliate entity
Aeries Financial Technologies Private Limited		Affiliate entity
Bhanix Finance And Investment Limited		Affiliate entity
Ralak Consulting LLP		Affiliate entity
TSLC Pte Limited		Affiliate entity
Venu Raman Kumar		Chairman of ATI’s Board and controlling shareholder
Vaibhav Rao		Members of immediate families of Venu Raman Kumar
Sudhir Appukuttan Panikassery		Key managerial personnel

Summary of significant transactions and balances due to and from related parties are as follows:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Cost sharing arrangements
Aeries Financial Technologies Private Limited (b)		42		40		143		115
Bhanix Finance And Investment Limited (b)		27		2		87		84
Corporate guarantee commission
Bhanix Finance And Investment Limited		-		3		2		9
Corporate guarantee expense
Aeries Technology Products And Strategies Private Limited (j)		-		4		2		11
Interest expense
Aeries Technology Products And Strategies Private Limited (d)		7		-		21		1
Mr. Vaibhav Rao (g)		21		21		63		65
Interest income
Aeries Financial Technologies Private Limited (f), (h)		43		60		123		112
Aeries Technology Products And Strategies Private Limited (e), (h)		24		21		77		64
Legal and professional fees paid
Ralak Consulting LLP (c)		133		78		346		302
Management consultancy service
Aark II Pte Limited (a)		737		346		2,439		949
TSLC Pte Limited (a)		39		-		127		-
Office management and support services expense
Aeries Technology Products And Strategies Private Limited (i)		1		8		76		13

	December 31,		March 31,
	2023		2023
Accounts payable
Aeries Technology Products And Strategies Private Limited (i)	$	-	$	29
Accounts receivable
Aeries Technology Products And Strategies Private Limited		1		-
Aark II Pte Limited (a)		483		1,084
Aeries Financial Technologies Private Limited (b)		8		9
Bhanix Finance And Investment Limited (b)		51		86
TSLC Pte Limited (a)		159		259
Interest payable (classified under other current liabilities)
Aeries Technology Products And Strategies Private Limited (d)		9		1
Interest receivable (classified under prepaid expenses and other current assets)
Aeries Technology Products And Strategies Private Limited (e)		50		57
Investment in 0.001% Series-A Redeemable preference share
Aeries Financial Technologies Private Limited (h)		903		803
Investment in 10% Cumulative redeemable preference shares
Aeries Technology Products And Strategies Private Limited (h)		784		761
Loan from Members of immediate families of Venu Raman Kumar
Mr. Vaibhav Rao (g)		836		845
Loans from affiliates
Aeries Technology Products and Strategies Private Limited (d)		193		-
Loans to affiliates (classified under other assets)
Aeries Financial Technologies Private Limited (f)		105		106
Aeries Technology Products And Strategies Private Limited (e)		337		335

	(a)	The Company provided management consulting services to Aark II Pte Ltd under an agreement dated June 21, 2021 and its amendments thereof and to TSLC Pte Ltd under an agreement dated July 12, 2021.
	(b)	The Company was in a cost sharing arrangement with Aeries Financial Technologies Private Ltd and Bhanix Finance and Investment Ltd under separate agreements dated April 1, 2020. The cost sharing arrangement included costs in the areas of office management, IT and operations. The agreements are for a 36-month term with auto renewals after the original term.
	(c)	The Company availed consulting services including implementation services in business restructuring, risk management, feasibility studies, mergers & acquisitions etc. from Ralak Consulting LLP vide agreement dated April 01, 2022.
	(d)	The Company incurred interest expense in relation to loans taken from ATPSPL, which were borrowed to meet working capital requirements. The loans were for a 3-year term and were issued at an interest rate of 12% per annum.
	(e)	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 12% per annum.
	(f)	The Company received interest income in relation to loans given to affiliates to support their working capital requirements. The loans were for a 3-year term and issued at an interest rate of 15-17% per annum.
	(g)	The Company obtained a loan at 10% interest rate from Vaibhav Rao for business purposes. The agreement shall remain valid until the principal amount along with interest is fully repaid. The principal amount of the loan was outstanding in entirety as of the nine month ended December 31, 2023 and 2022.
	(h)	This amount represents investments in affiliates. The Company earned interest income on its investments in affiliates.
	(i)	The Company availed management consulting services from ATPSPL under agreements dated March 20, 2020 and April 1, 2021.
	(j)	ATPSPL gave corporate guarantee of INR 240,000 (or approximately $2,888 at the exchange rate in effect on December 31, 2023) on behalf of the Company towards the revolving credit facility availed. ATPSPL charges a corporate guarantee commission of 0.5% on the total corporate guarantee given. The guarantee was withdrawn during the nine month ended December 31, 2023.

The Company has also executed two Exchange Agreements: (1) with AARK and Mr. Raman Kumar (“Sole Shareholder”) in his capacity as a shareholder’ of AARK; and (2) with ATGBA and Mr. Sudhir Appukuttan Panikassery, Mr. Ajay Khare, and Mr. Unnikrishnan Balakrishnan Nambiar, key managerial personnel of ATGBA in their capacity as shareholders’ of ATGBA (together referred to as “counterparties”). Under the Exchange Agreements, the counterparties would have a right to exchange the shares held by them in AARK/ ATGBA against shares of ATI or cash subject to the conditions specified in the Exchange Agreement. Refer Note 11 for details. Additionally, pursuant to the Business Combination, 5,638,530 Class A ordinary shares have been issued to Innovo Consultancy DMCC, which is wholly owned by Sole Shareholder.

Note 4 - Related Party Transactions

Founder Shares

In March 2021, our sponsor subscribed for an aggregate of 8,625,000 Class B ordinary shares, par value $0.001 per share, for an aggregate purchase price of $25,000 (“founder shares”). On September 17, 2021, our sponsor effected a surrender of 2,875,000 Class B ordinary shares to the company for no consideration, resulting in a decrease in the number of Class B ordinary shares outstanding from 8,625,000 to 5,750,000, such that the total number of founder shares would represent 20% of the total number of ordinary shares outstanding upon completion of this offering (of which 750,000 Class B ordinary shares are subject to forfeiture if the underwriters do not exercise their overallotment option). Prior to the initial investment in the company of $25,000 by our sponsor, we had no assets, tangible or intangible. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed to the company by the aggregate number of founder shares issued.

Ten Anchor Investors entered into Investment Agreements (the “Investment Agreements”) with the Sponsor and the Company pursuant to which they purchased 1,250,000 Founder shares of the Company, par value $0.0001 per share, from the Sponsor for $0.005 per share. The Company considers the excess fair value of the Founder Shares issued to the anchor investors above the purchase price as offering costs and reduced the gross proceeds by this amount. The Company has valued the excess fair value over consideration of the founder shares sold to the anchor investors at $8,306,250. The excess of the fair value over consideration of the Founder Shares was determined to be an offering cost in accordance with Staff Accounting Bulletin Topic 5A and was charged against the carrying value of Class A ordinary shares upon the completion of the Initial Public Offering.

Administrative Services Agreement

The Company entered into an Administrative Services Agreement pursuant to which the Company will pay an affiliate of our Sponsor a total of $10,000 per month, until the earlier of the completion of the initial Business Combination and the liquidation of the trust assets, for office space, utilities, administrative and support services, up to a maximum of $160,000. The $160,000 maximum threshold was met as of February 2023, so the Company will cease paying these monthly fees in the following months. For the three months ended September 30, 2023 and 2022, the Company expensed $0 and $30,000, respectively, in monthly administrative support services, and Company expensed $20,000 and $90,000 for the nine months ended September 30, 2023 and 2022, respectively.

Promissory Note-Related Party

On March 5, 2021, the Sponsor issued an unsecured promissory note to the Company (the “Original Note”), pursuant to which the Company may borrow up to an aggregate principal amount of $300,000. The Original Note was a non-interest bearing and was payable on the earlier of (i) March 15, 2022 or (ii) the consummation of the Proposed Public Offering. The Sponsor cancelled the Original Note on October 25, 2021, and issued an amended Promissory Note to the Company (the “Amended Note”). The outstanding balance of the Original Note at the time of cancellation was $180,361, which was transferred over to the Amended Note at the time of issuance. The Amended Note is a non-interest bearing note that allows the company to borrow up to an aggregate of $1,500,000.

The Amended Note includes a provision that allows the Sponsor to convert up to $1,500,000 of any unpaid principal on the note into warrants of the post-business combination entity at the price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability, and exercise period. As of September 30, 2023 and December 31, 2022, the Company has borrowed $557,810 and $200,000 under the promissory amended note, respectively, and will become payable on the earlier of (i) April 22, 2024 or (ii) the consummation of the Initial Business Combination.

In addition to the promissory note, the Sponsor has agreed to pay for expenses on the Company’s behalf that are payable on demand. The Company owed $222,716 and $202,716 to the Sponsor in expenses unrelated to the Promissory Note as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, approximately $172,116 was allocated to Accounts Payable. As of September 30, 2023 and December 31, 2022, $50,600 and $30,600 was allocated to accrued expenses, respectively.

Private Placement Warrants

The Sponsor purchased an aggregate of 8,000,000 Private Placement Warrants, at a price of $1.00 per Private Placement Warrant, or $8,000,000 in the aggregate, in a private placement simultaneously with the closing of the IPO. An additional 900,000 Private Placement Warrants were purchased upon the Underwriter’s exercise of over-allotment option in full. Each Private Placement Warrant is exercisable for one share of Class A ordinary shares at a price of $11.50 per share. A portion of the proceeds from the sale of the Private Placement Warrants and the sale of forward purchase units to the Sponsor were added to the proceeds from the IPO to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless. The Private Placement Warrants will be non-redeemable. The purchasers of the Private Placement Warrants agreed, subject to limited exceptions, not to transfer, assign or sell any of their Private Placement Warrants (except to permitted transferees) until 30 days after the completion of the Business Combination.

Related Party Loans

In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post Business Combination entity at a price of $1.00 per warrant. The warrants would be identical to the Private Placement Warrants. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. To date, the Company had no borrowings under the Working Capital Loans.

Note 4 — Related Party Transactions

Founder Shares

Administrative Services Agreement

The Company entered into an Administrative Services Agreement pursuant to which the Company will pay an affiliate of our Sponsor a total of $10,000 per month, from the initial public offering date until the earlier of the completion of the initial Business Combination and the liquidation of the trust assets, for office space, utilities, administrative and support services. Upon completion of the initial Business Combination or liquidation, the Company will cease paying these monthly fees. For the year ended December 31, 2022 and the period from March 5, 2021 (Inception) through December 31, 2021, the Company expensed $120,000 and $20,000, respectively, in monthly administrative support services.

Promissory Note-Related Party

The Amended Note includes a provision that allows the Sponsor to convert up to $1,500,000 of any unpaid principal on the note into warrants of the post-business combination entity at the price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants, including as to exercise price, exercisability, and exercise period. As of December 31, 2022 and 2021, the Company has borrowed $200,000 and $208,461 under the promissory amended note, respectively, and will become payable on the earlier of (i) April 22, 2023 or (ii) the consummation of the Initial Business Combination.

In addition to the promissory note, the Sponsor has agreed to pay for expenses on the Company’s behalf that are payable on demand. The Company owed $202,716 and $11,500 to the Sponsor in expenses unrelated to the Promissory Note as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, approximately $172,116 and $0 were allocated to Accounts Payable, respectively, and the remaining $30,600 and $11,500 being allocated to accrued expenses, respectively.

Private Placement Warrants

Related Party Loans

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Schedule of Long-term debt

Long-term debt (Tables)

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term debt
	December 31, 2023		March 31, 2023
Loan from the director of ATGBA	$	836	$	845
Loan from an affiliate		193		-
Non-current portion of vehicle loan		112		124
	$	1,141	$	969

Schedule of future maturities of debt

Schedule of future maturities of debt
2024	$	3
2025		850
2026		15
2027		286
Total future maturities of debt	$	1,154

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended			12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2022
Cash flows from operating activities
Net (loss) / income	$ (14,880,000)		$ 821,000
Adjustments to reconcile net (loss) / income to net cash (used in) / provided by operating activities:
Depreciation and amortization expense	1,004,000		873,000
Stock-based compensation expense	1,626,000		2,482,000
Deferred tax benefit	(230,000)		(146,000)
Accrued income from long-term investments	(141,000)		(129,000)
Provision for expected credit loss	1,074,000
Gain on lease termination	(13,000)
Others	(50,000)		(1,000)
Change in fair value of forward purchase agreement put option liability	17,247,000
Change in fair value of derivative warrant liabilities	(852,000)
Loss on issuance of shares against accounts payable	48,000
Changes in operating assets and liabilities:
Accounts receivable	(6,070,000)		(2,630,000)
Prepaid expenses and other current assets	(623,000)		(505,000)
Operating right-of-use assets	(825,000)		(6,200,000)
Other assets	416,000		(1,737,000)
Accounts payable	451,000		(177,000)
Accrued compensation and related benefits, current	(22,000)		(1,397,000)
Other current liabilities	29,000		4,174,000
Operating lease liabilities	926,000		6,452,000
Other liabilities	910,000		438,000
Net cash provided by (used in) operating activities	25,000	$ 33,723	2,318,000	$ (446,617)
Cash flows from investing activities
Acquisition of property and equipment	(1,062,000)		(1,388,000)
Issuance of loans to affiliates	(1,730,000)		(1,041,000)
Payments received for loans to affiliates	1,722,000		1,011,000
Net cash provided by investing activities	(1,070,000)	189,434,603	(1,418,000)
Cash flows from financing activities
Net proceeds from short term borrowings	1,748,000		1,012,000
Payment of promissory note liability	(1,500,000)
Payment of insurance financing liability	(239,000)
Proceeds from long-term debt	575,000		138,000
Repayment of long-term debt	(388,000)
Payment of finance lease obligations	(323,000)		(290,000)
Payment of deferred transaction costs	(2,055,000)		(434,000)
Net changes in net shareholders’ investment	(10,000)		18,000
Proceeds from issuance of common stock and forward purchase agreement in connection with Business Combination, net	8,666,000
Net cash used in financing activities	6,474,000	(189,508,040)	444,000	(8,461)
Effect of exchange rate changes on cash and cash equivalents	(17,000)		(51,000)
Net decrease in cash	5,412,000	(39,714)	1,293,000	(455,078)
Cash and cash equivalents at the beginning of the period	1,131,000	$ 1,644,000	351,000
Cash and cash equivalents at the end of the period	6,543,000		1,644,000	$ 1,644,000
Supplemental cash flow disclosure:
Cash paid for interest	253,000		171,000
Cash paid for income taxes, net of refunds	1,057,000		789,000
Supplemental disclosure of non-cash investing and financing activities:
Unpaid deferred transaction costs included in accounts payable and other current liabilities	908,000		569,000
Equipment acquired under finance lease obligations	313,000		82,000
Property and equipment purchase included in accounts payable	81,000		9,000
Settlement of accounts payable through issuance of Class A ordinary shares to vendors	855,000
Assumption of net liabilities from Business Combination	$ 38,994,000

Income Taxes

9 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note 8 - Income Taxes

The Company determines its tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items, if any, that are taken into account in the relevant period. The Company updated its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company will be making a cumulative adjustment.

The Company’s effective tax rate (“ETR”) is (10.8)% and 58.3% for the nine months ended December 31, 2023 and 2022, respectively. The Company’s ETR is (3.5)% and 173.8% for the three months ended December 31, 2023 and 2022, respectively.

The movement in ETR was primarily due to 1) a significant increase in loss before income taxes mainly due to change in fair value of derivative warrant liabilities which cannot be set off against future taxable income as the Company is situated in Cayman Islands wherein no tax is applicable, and 2) increase in non-deductible expenses incurred, during the three and nine months ended December 31, 2023, as compared to the three and nine months ended December 31, 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accounts receivable, net of allowance	$ 1,233	$ 0
Prepaid expenses and other current assets, net of allowance	6	0
Long-term investments, net of allowance	129	0
Other assets, net of allowance	$ 1	$ 0
Preferred stock, Par or stated value per share	$ 0.0001	$ 0.0001
Preferred stock, Shares authorized	5,000,000	5,000,000
Preferred stock, Shares issued	0	0
Preferred stock, Shares outstanding	0	0
Common stock, Par or stated value per share	$ 0	$ 0
Common stock, Shares issued	0	10,000
Common stock, Shares outstanding	0	10,000
Common Class A [Member]
Common stock, Par or stated value per share	$ 0.0001
Common stock, Shares authorized	500,000,000
Common stock, Shares issued	15,619,004
Common stock, Shares outstanding	15,619,004
Common Class V [Member]
Common stock, Par or stated value per share	$ 0.0001	$ 0.0001
Common stock, Shares authorized	1	1
Common stock, Shares issued	1	1
Common stock, Shares outstanding	1	1

Cover	9 Months Ended
Cover	Dec. 31, 2023
Entity Addresses [Line Items]
Document Type	S-1/A
Amendment Flag	true
Amendment Description	Amendment No. 5
Entity Registrant Name	Aeries Technology, Inc.
Entity Central Index Key	0001853044
Entity Tax Identification Number	98-1587626
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	60 Paya Lebar Road
Entity Address, Address Line Two	#08-13
Entity Address, Address Line Three	Paya Lebar Square
Entity Address, City or Town	Singapore
Entity Address, Postal Zip Code	409051
City Area Code	919
Local Phone Number	228-6404
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	P.O. Box 309
Entity Address, City or Town	George Town
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-1104
City Area Code	919
Local Phone Number	228-6404

Initial Public Offering (Details Narrative) - USD ($)		1 Months Ended	9 Months Ended		12 Months Ended
Initial Public Offering (Details Narrative) - USD ($)	Apr. 14, 2023	Oct. 22, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Proceeds from the sale of Class A ordinary shares, shares			200,000
Common Class A [Member]
Subsidiary, Sale of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 11.50	$ 11.50
Temporary equity stock redeemed during the period shares	18,281,946
Temporary equity, Shares outstanding	4,718,054		4,000,000	4,718,054	23,000,000	23,000,000
Public Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued upon exercise of warrant				1	1
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 11.50
Initial Public Offering and Over Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from the sale of Class A ordinary shares, shares		23,000,000
Share price		$ 10.00
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from the sale of Class A ordinary shares, shares		20,000,000
Share price		$ 10.00
Common stock, Conversion basis				Each Unit consists of one share of Class A ordinary shares and one-half of one Public Warrant.	Each Unit consists of one share of Class A ordinary shares and one-half of 1 one Public Warrant.
Anchor Investors Investment [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from anchor investors for issuance of units		$ 198,600,000
Offering Of Units per Anchor Investor Percentage		9.90%
Anchor Investors Unit Purchases Percentage		99.30%

Related Party Transactions (Details)	9 Months Ended
Related Party Transactions (Details)	Dec. 31, 2023
Aark I I Pte Limited [Member]
Related Party Transaction [Line Items]
Name of the related party	Aark II Pte Limited
Relationship	Affiliate entity
Aarx Singapore Pte Ltd [Member]
Related Party Transaction [Line Items]
Name of the related party	Aarx Singapore Pte Ltd
Relationship	Affiliate entity
Aeries Technology Products And Strategies Private Limited A T P S P L [Member]
Related Party Transaction [Line Items]
Name of the related party	Aeries Technology Products And Strategies Private Limited (“ATPSPL”)
Relationship	Affiliate entity
Aeries Financial Technologies Private Limited [Member]
Related Party Transaction [Line Items]
Name of the related party	Aeries Financial Technologies Private Limited
Relationship	Affiliate entity
Bhanix Finance And Investment Limited [Member]
Related Party Transaction [Line Items]
Name of the related party	Bhanix Finance And Investment Limited
Relationship	Affiliate entity
Ralak Consulting L L P [Member]
Related Party Transaction [Line Items]
Name of the related party	Ralak Consulting LLP
Relationship	Affiliate entity
T S L C Pte Limited [Member]
Related Party Transaction [Line Items]
Name of the related party	TSLC Pte Limited
Relationship	Affiliate entity
Venu Raman Kumar [Member]
Related Party Transaction [Line Items]
Name of the related party	Venu Raman Kumar
Relationship	Chairman of ATI’s Board and controlling shareholder
Vaibhav Rao [Member]
Related Party Transaction [Line Items]
Name of the related party	Vaibhav Rao
Relationship	Members of immediate families of Venu Raman Kumar
Sudhir Appukuttan Panikassery [Member]
Related Party Transaction [Line Items]
Name of the related party	Sudhir Appukuttan Panikassery
Relationship	Key managerial personnel

Fair Value Measurements (Details 2) - USD ($)	2 Months Ended	9 Months Ended		12 Months Ended
Fair Value Measurements (Details 2) - USD ($)	Dec. 31, 2021	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Fair value at beginning balance	$ 9,054,000		$ 614,040	$ 12,240,000
Change in fair value (gain)	3,186,000	16,395,000	387,600	(11,625,960)
Fair value as of ending balance	12,240,000	44,173,000	1,001,640	614,040
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Fair value at beginning balance	5,030,000		346,150	6,900,000
Change in fair value (gain)	1,870,000	(465,000)	218,500	(6,553,850)
Fair value as of ending balance	6,900,000	1,048,000	564,650	346,150
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Fair value at beginning balance	4,024,000		267,890	5,340,000
Change in fair value (gain)	1,316,000	(387,000)	169,100	(5,072,110)
Fair value as of ending balance	$ 5,340,000	$ 869,000	$ 436,990	$ 267,890
Private Warrants Liability [Member]
Class of Warrant or Right [Line Items]
Term		4 years 10 months 6 days
Risk-free interest rate		3.85%
Volatility		38.20%
Stock price at measurement date		$ 2.50

Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Long term debt	$ 1,141	$ 969
Loan From Director [Member]
Debt Instrument [Line Items]
Long term debt	836	845
Loan From Affiliate [Member]
Debt Instrument [Line Items]
Long term debt	193
Vehicle Loan [Member]
Debt Instrument [Line Items]
Long term debt	$ 112	$ 124

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.