<?xml version="1.0" encoding="utf-8"?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2022" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2022" xmlns:us-roles="http://fasb.org/us-roles/2022" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:country="http://xbrl.sec.gov/country/2022" xmlns:srt="http://fasb.org/srt/2022" xmlns:AVACU="http://avalonspac.com/20220630">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02B_US%2DGAAP%2D2022 -->
<!-- Field: Set; Name: xdx; ID: xdx_03D_AVACU_avalonspac.com_20220630 -->
<!-- Field: Set; Name: xdx; ID: xdx_04A_20220101_20220630 -->
<!-- Field: Set; Name: xdx; ID: xdx_055_edei%2D%2DEntityCentralIndexKey_0001836478 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_050_edei%2D%2DCurrentFiscalYearEndDate_12/31 -->
<!-- Field: Set; Name: xdx; ID: xdx_050_edei%2D%2DDocumentFiscalYearFocus_2022 -->
<!-- Field: Set; Name: xdx; ID: xdx_058_edei%2D%2DDocumentFiscalPeriodFocus_Q2 -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityCentralIndexKey">0001836478</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:datemonthday" name="dei:CurrentFiscalYearEndDate">12/31</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:DocumentFiscalYearFocus">2022</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:DocumentFiscalPeriodFocus">Q2</ix:nonNumeric>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0258" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-04-012022-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0266" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-04-012022-06-30_custom_ClassBCommonStockMember" id="xdx2ixbrl0267" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-04-012022-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0268" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0274" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_custom_ClassACommonStockMember" id="xdx2ixbrl0282" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-03-31_custom_ClassACommonStockMember" id="xdx2ixbrl0288" unitRef="Shares" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-04-012021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0292" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-04-012021-06-30_custom_ClassBCommonStockMember" id="xdx2ixbrl0293" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-04-012021-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0294" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-04-012021-06-30_us-gaap_RetainedEarningsMember" id="xdx2ixbrl0295" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-04-012021-06-30" id="xdx2ixbrl0296" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0298" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0304" unitRef="Shares" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0310" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-01-012022-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0318" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-01-012022-06-30_custom_ClassBCommonStockMember" id="xdx2ixbrl0319" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-01-012022-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0320" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0326" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_custom_ClassACommonStockMember" id="xdx2ixbrl0334" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2020-12-31_custom_ClassACommonStockMember" id="xdx2ixbrl0340" unitRef="Shares" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-01-012021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0344" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-01-012021-06-30_custom_ClassBCommonStockMember" id="xdx2ixbrl0345" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-01-012021-06-30_us-gaap_AdditionalPaidInCapitalMember" id="xdx2ixbrl0346" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0350" unitRef="USD" xs:nil="true"></ix:nonFraction>
  <ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-06-30_custom_ClassACommonStockMember" id="xdx2ixbrl0356" unitRef="Shares" xs:nil="true"></ix:nonFraction>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="avacu-20220630.xsd" xlink:type="simple" />
  </ix:references>
 <ix:resources>
    <xbrli:context id="From2022-01-01to2022-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_ClassCommonStockParValue0.0001PerShareMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:ClassCommonStockParValue0.0001PerShareMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-07-29_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-07-29</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-07-29_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-07-29</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_custom_CommonStockClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_custom_CommonStockClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:CommonStockClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-03-31_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-03-31_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-03-31_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-03-31_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-03-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-03-31_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-03-31_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-03-31_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-03-31_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-03-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2020-12-31_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2020-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2020-12-31_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2020-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2020-12-31_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2020-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2020-12-31_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2020-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2020-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2020-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-06-30_custom_ClassACommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassACommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-06-30_custom_ClassBCommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">AVACU:ClassBCommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-06-30_us-gaap_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-06-30_us-gaap_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-06-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-12-31_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:WarrantsMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:WarrantsMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-10-012021-10-08_us-gaap_IPOMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:IPOMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-10-01</xbrli:startDate>
        <xbrli:endDate>2021-10-08</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_us-gaap_IPOMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:IPOMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-04-012021-06-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-04-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-06-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_UnderwriterMember_custom_PublicWarrantMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">AVACU:PublicWarrantMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_SponsorMember_us-gaap_PrivatePlacementMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:SponsorMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:PrivatePlacementMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_SponsorMember_us-gaap_PrivatePlacementMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:SponsorMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:PrivatePlacementMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2020-10-012020-10-21_custom_AvalonAcquisitionHoldingsMember_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:AvalonAcquisitionHoldingsMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-10-01</xbrli:startDate>
        <xbrli:endDate>2020-10-21</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-08-012021-08-30_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-08-01</xbrli:startDate>
        <xbrli:endDate>2021-08-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-08-30_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-08-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-10-012021-10-05_custom_AvalonAcquisitionHoldingsMember_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:AvalonAcquisitionHoldingsMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-10-01</xbrli:startDate>
        <xbrli:endDate>2021-10-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-10-012021-10-05_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-10-01</xbrli:startDate>
        <xbrli:endDate>2021-10-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-10-05_custom_AvalonAcquisitionHoldingsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:AvalonAcquisitionHoldingsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-10-05</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2020-10-012020-10-31_custom_UnsecuredPromissoryNoteMember_custom_SponsorMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">AVACU:UnsecuredPromissoryNoteMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:SponsorMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-10-01</xbrli:startDate>
        <xbrli:endDate>2020-10-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-10-012021-10-05_custom_AdministrativeSupportAgreementMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:TypeOfArrangementAxis">AVACU:AdministrativeSupportAgreementMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-10-01</xbrli:startDate>
        <xbrli:endDate>2021-10-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-04-012022-06-30_custom_SponsorMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:SponsorMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-04-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_SponsorMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:SponsorMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-01-012022-06-30_custom_AdministrativeSupportAgreementMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:TypeOfArrangementAxis">AVACU:AdministrativeSupportAgreementMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-01-01</xbrli:startDate>
        <xbrli:endDate>2022-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2021-01-012021-12-31_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-01</xbrli:startDate>
        <xbrli:endDate>2021-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">AVACU:UnderwriterMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:SubsidiarySaleOfStockAxis">us-gaap:OverAllotmentOptionMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_PublicWarrantsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:ClassOfWarrantOrRightAxis">AVACU:PublicWarrantsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_PublicWarrantsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:ClassOfWarrantOrRightAxis">AVACU:PublicWarrantsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_custom_PrivateWarrantsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:ClassOfWarrantOrRightAxis">AVACU:PrivateWarrantsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_custom_PrivateWarrantsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:ClassOfWarrantOrRightAxis">AVACU:PrivateWarrantsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_CommonClassAMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassAMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_CommonClassBMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonClassBMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_FairValueInputsLevel1Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_FairValueInputsLevel2Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2022-06-30_us-gaap_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2022-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_FairValueInputsLevel1Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_FairValueInputsLevel2Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2021-12-31_us-gaap_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001836478</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2021-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
  </ix:resources>
 </ix:header>
</div>


<p style="margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Rule-Page --><div style="text-align: left; margin-top: 12pt; margin-bottom: 3pt"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt; width: 100%">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 14pt Times New Roman, Times, Serif"><b>UNITED
STATES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 14pt Times New Roman, Times, Serif"><b>SECURITIES
AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>Washington,
D.C. 20549</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 18pt Times New Roman, Times, Serif"><b>FORM
<span id="xdx_907_edei--DocumentType_c20220101__20220630_zJMBQMKefIUb"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:DocumentType">10-Q</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>(MARK
ONE)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 5%; text-indent: 0"><span style="font: 12pt Times New Roman, Times, Serif"><span id="xdx_90C_edei--DocumentQuarterlyReport_c20220101__20220630_zbk2u4hV0da"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleantrue" name="dei:DocumentQuarterlyReport">&#9746;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 95%; text-align: justify; text-indent: 0"><span style="font: 12pt Times New Roman, Times, Serif"><b>QUARTERLY
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>For
the quarterly period ended <span id="xdx_902_edei--DocumentPeriodEndDate_c20220101__20220630_z6aEVUK3d3ic"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">June 30, 2022</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 5%; text-indent: 0"><span style="font: 12pt Times New Roman, Times, Serif"><span id="xdx_90B_edei--DocumentTransitionReport_c20220101__20220630_zDCpANY3Pvdg"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:DocumentTransitionReport">&#9744;</ix:nonNumeric></span></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; width: 95%; text-align: justify; text-indent: 0"><span style="font: 12pt Times New Roman, Times, Serif"><b>TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>For
the transition period from to</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Commission
file number: <span id="xdx_900_edei--EntityFileNumber_c20220101__20220630_zLiMERJFmjal"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityFileNumber">001-40872</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td colspan="3" style="text-align: center"><span style="font-size: 24pt"><b><span id="xdx_905_edei--EntityRegistrantName_c20220101__20220630_zehBO1VPqRJ2"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityRegistrantName">AVALON ACQUISITION INC.</ix:nonNumeric></span></b></span></td></tr>
  <tr style="vertical-align: top">
    <td colspan="3" style="text-align: center"><span style="font-size: 10pt">(Exact name of registrant as specified in its charter) </span></td></tr>
  <tr style="vertical-align: top">
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid; width: 51%; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_907_edei--EntityIncorporationStateCountryCode_c20220101__20220630_zSQTSfbzedzf"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Delaware</ix:nonNumeric></span></b></span></td>
    <td style="border-bottom: white 1pt solid; width: 1%">&#160;</td>
    <td style="border-bottom: black 1pt solid; width: 48%; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_90F_edei--EntityTaxIdentificationNumber_c20220101__20220630_zJirVe6e3WA2"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityTaxIdentificationNumber">85-3451075</ix:nonNumeric></span></b></span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: center"><span style="font-size: 10pt">(State or other jurisdiction of<br />
incorporation or organization)</span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font-size: 10pt">(I.R.S. Employer<br />
Identification No.)</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_906_edei--EntityAddressAddressLine1_c20220101__20220630_zxtyGSR3Ilbg"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityAddressAddressLine1">2 Embarcadero Center</ix:nonNumeric></span>, <span id="xdx_903_edei--EntityAddressAddressLine2_c20220101__20220630_zT9Fizpslmr8"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityAddressAddressLine2">8th Floor</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;<span id="xdx_903_edei--EntityAddressCityOrTown_c20220101__20220630_zCJXexYpwZma"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityAddressCityOrTown">San Francisco</ix:nonNumeric></span>, <span id="xdx_90E_edei--EntityAddressStateOrProvince_c20220101__20220630_zfpZnI6pmyzg"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityAddressStateOrProvince">CA</ix:nonNumeric></span> <span id="xdx_902_edei--EntityAddressPostalZipCode_c20220101__20220630_zswsL3CGYuta"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityAddressPostalZipCode">94111</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b>(Address
of principal executive offices)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_906_edei--CityAreaCode_c20220101__20220630_zmlFHEMjNohi"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:CityAreaCode">(415)</ix:nonNumeric></span>
<span id="xdx_90F_edei--LocalPhoneNumber_c20220101__20220630_zZUzOOMJgYb"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:LocalPhoneNumber">423-0010</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b>(Registrant&#8217;s
telephone number, including area code)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Not
applicable.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b>(Former
name, former address and former fiscal year, if changed since last report)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Securities
registered pursuant to Section 12(b) of the Act:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1pt solid; padding: 0; width: 39%; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Title of each class</b></span></td>
<td style="border-bottom: white 1pt solid; padding: 0; width: 1%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; width: 21%; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Trading Symbol(s)</b></span></td>
<td style="border-bottom: white 1pt solid; padding: 0; width: 1%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; width: 38%; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Name of each exchange on which registered</b></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_906_edei--Security12bTitle_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember_z0lA3PWYpff5"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember" name="dei:Security12bTitle">Units, each consisting of one share of Class A common stock, par value $0.0001 per share and three-fourths of one redeemable warrant</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_edei--TradingSymbol_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember_zudODebLQlA2"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember" name="dei:TradingSymbol">AVACU</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">The <span id="xdx_903_edei--SecurityExchangeName_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember_zw5e3zXGK5Ib"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_UnitsEachConsistingOfOneShareOfClassCommonStockParValue0.0001PerShareAndThreefourthsOfOneRedeemableWarrantMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span> Stock Market LLC</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90F_edei--Security12bTitle_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_zspoAw7B8hm6"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_ClassCommonStockParValue0.0001PerShareMember" name="dei:Security12bTitle">Class A Common Stock, par value $0.0001 per share</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_edei--TradingSymbol_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_z5RikIlABPi9"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_ClassCommonStockParValue0.0001PerShareMember" name="dei:TradingSymbol">AVAC</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">The <span id="xdx_90A_edei--SecurityExchangeName_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_z9iXLEH7NHo3"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_ClassCommonStockParValue0.0001PerShareMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span> Stock Market LLC</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_900_edei--Security12bTitle_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember_zRhZs4SrfH09"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember" name="dei:Security12bTitle">Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per whole share</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_900_edei--TradingSymbol_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember_zktw217hXwag"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember" name="dei:TradingSymbol">AVACW</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">The <span id="xdx_90E_edei--SecurityExchangeName_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember_zRyPYxMgrcE8"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_RedeemableWarrantsEachWholeWarrantExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerWholeShareMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span> Stock Market LLC</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act
during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90B_edei--EntityCurrentReportingStatus_c20220101__20220630_z0V8PN0Vutfb"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityCurrentReportingStatus">Yes</ix:nonNumeric></span>
&#9746; No &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_906_edei--EntityInteractiveDataCurrent_c20220101__20220630_zo3lnzn18YZe"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric></span>
&#9746; No &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221;
&#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="padding: 0; width: 30%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Large accelerated filer</span></td>
<td style="padding: 0; width: 1%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9744;</span></td>
<td style="padding: 0; width: 38%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; width: 30%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Accelerated filer</span></td>
<td style="padding: 0; width: 1%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9744;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_edei--EntityFilerCategory_c20220101__20220630_zzcebG5LLK42"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated filer</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9746;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Smaller reporting company</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_edei--EntitySmallBusiness_c20220101__20220630_zkJtAl3m2iNc"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleantrue" name="dei:EntitySmallBusiness">&#9746;</ix:nonNumeric></span></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Emerging growth company</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_edei--EntityEmergingGrowthCompany_c20220101__20220630_zJ2NXRaRmWB7"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleantrue" name="dei:EntityEmergingGrowthCompany">&#9746;</ix:nonNumeric></span></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span id="xdx_901_edei--EntityExTransitionPeriod_c20220101__20220630_ztjv9MwyJhld"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:EntityExTransitionPeriod">&#9744;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_901_edei--EntityShellCompany_c20220101__20220630_zRpiZYiVLI63"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleantrue" name="dei:EntityShellCompany">Yes</ix:nonNumeric></span>
&#9746; No &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
of July 29, 2022, there were <span id="xdx_90B_edei--EntityCommonStockSharesOutstanding_iI_c20220729__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhOG8yc0Gsmj" title="Entity Common Stock, Shares Outstanding"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2022-07-29_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></span> shares of Class A common stock, par value $0.0001 per share, and <span id="xdx_904_edei--EntityCommonStockSharesOutstanding_iI_c20220729__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvz2urVwKxlj" title="Entity Common Stock, Shares Outstanding"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2022-07-29_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></span> shares of Class
B common stock, par value $0.0001 per share, issued and outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 1; Options: NewSection -->
    <div style="border-bottom: Black 2pt solid; margin-top: 12pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION IN INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>FORM
10-Q FOR THE QUARTER ENDED JUNE 30, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>TABLE
OF CONTENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="padding: 0; width: 95%; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_001">Part
I. Financial Information</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item 1. Condensed Financial
Statements </span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_002">Condensed
Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_003">Unaudited
Condensed Statements of Operations for Three and the Six Months Ended June 30, 2022 and June 30, 2021 </a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_004">Unaudited
Condensed Statements of Changes in Stockholders&#8217; Equity/(Deficit) for the Three and Six Months Ended June 30, 2022 and June 30,
2021 </a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_005">Unaudited
Condensed Statements of Cash Flows for the Six Months Ended June 30, 2022 and June 30, 2021 </a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_018">Notes
to Condensed Financial Statements (Unaudited) </a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_006">Item
2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_007">Item
3. Quantitative and Qualitative Disclosures About Market Risk</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_008">Item
4. Controls and Procedures</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_009">Part
II. Other Information</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_010">Item
1. Legal Proceedings</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_011">Item
1A. Risk Factors</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_012">Item
2. Unregistered Sales of Equity Securities and Use of Proceeds</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_013">Item
3. Defaults Upon Senior Securities</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_014">Item
4. Mine Safety Disclosures</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_015">Item
5. Other Information</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_016">Item
6. Exhibits</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</span></td></tr>
<tr style="vertical-align: top; background-color: white">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#a_017">Part
III. Signatures</a></span></td>
<td style="padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 12pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_001"></span>PART
I - FINANCIAL INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 1.
Condensed Financial Statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION INC.</b>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_002"></span>CONDENSED
BALANCE SHEETS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_309_111_zuCkiwIHed34" summary="xdx: Statement - CONDENSED BALANCE SHEETS (Unaudited)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_490_20220630" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_495_20211231" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2022 (unaudited)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td></tr>
<tr id="xdx_400_eus-gaap--AssetsAbstract_iB_zeH9QEeFSQ48" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">ASSETS</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_401_eus-gaap--AssetsCurrentAbstract_i01B_zAbN0nlEVw9d" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current assets:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_404_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_maCzkOj_z5eS1PD32EXl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; width: 56%">Cash</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">533,814</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,036,693</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr id="xdx_404_eus-gaap--PrepaidExpenseCurrent_i02I_maCzkOj_zYGDPbjgovOh" style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 20pt; text-align: left">Prepaid expenses</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PrepaidExpenseCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">449,458</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:PrepaidExpenseCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">522,874</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_401_eus-gaap--AssetsCurrent_i01TI_mtCzkOj_maCzCc0_zPnzNilUCZo7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total current assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">983,272</ix:nonFraction></p></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,559,567</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--AssetsHeldInTrust_i01I_maCzCc0_zK7SvXyJ5uq2" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Investments held in trust account</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsHeldInTrust" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">210,413,963</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AssetsHeldInTrust" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">210,109,087</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_408_eus-gaap--Assets_iTI_mtCzCc0_z7k0OoUTZgm3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><b>Total Assets</b></td><td style="font-weight: bold; padding-bottom: 2.5pt"><b>&#160;</b></td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">211,397,235</ix:nonFraction></b></p></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><b>&#160;</b></td><td style="font-weight: bold; padding-bottom: 2.5pt"><b>&#160;</b></td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><b><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">211,668,654</ix:nonFraction></b></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><b>&#160;</b></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--LiabilitiesAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders&#8217; Deficit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_401_eus-gaap--LiabilitiesCurrentAbstract_i01B_ztobE9TVh487" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Current liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--AccountsPayableCurrent_i02I_maCz9aX_z2eFroHJS1K1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Accounts payable</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonFraction name="us-gaap:AccountsPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">107,355</ix:nonFraction></p></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="us-gaap:AccountsPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">136,502</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--SalesAndExciseTaxPayableCurrent_i02I_maCz9aX_zonx9Iw7MaIc" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Franchise tax payable</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonFraction name="us-gaap:SalesAndExciseTaxPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">81,650</ix:nonFraction></p></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:SalesAndExciseTaxPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">123,338</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--LiabilitiesCurrent_i01TI_mtCz9aX_maCzdUO_zHqHzFYL1TFf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total current liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">189,005</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">259,840</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_409_eus-gaap--ExtendedProductWarrantyAccrual_i01I_maCzdUO_zGaTAK8RyHU6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt; text-align: left">Derivative warrant liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ExtendedProductWarrantyAccrual" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,138,063</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ExtendedProductWarrantyAccrual" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,213,750</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_ecustom--DeferredUnderwritingCommissions_i01I_maCzdUO_z9x97E1njXK1" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt; text-align: left">Deferred underwriting compensation</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="AVACU:DeferredUnderwritingCommissions" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,245,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="AVACU:DeferredUnderwritingCommissions" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,245,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_409_eus-gaap--Liabilities_i01TI_mtCzdUO_maCzUfh_zpgBOPRxTJXe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 1pt; text-indent: 0pt; text-align: left">Total liabilities</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">9,572,068</ix:nonFraction></p></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,718,590</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_400_eus-gaap--CommitmentsAndContingencies_iI_zDV8PZ9Z0mAk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Commitments and contingencies</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iI_maCzUfh_zosJ49ex3tKi" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Class A common stock, par value $<span id="xdx_905_eus-gaap--TemporaryEquityParOrStatedValuePerShare_c20220630_pdd" title="Temporary Equity, Par or Stated Value Per Share"><span id="xdx_909_eus-gaap--TemporaryEquityParOrStatedValuePerShare_c20211231_pdd" title="Temporary Equity, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:TemporaryEquityParOrStatedValuePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:TemporaryEquityParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> per share, <span id="xdx_900_eus-gaap--TemporaryEquitySharesAuthorized_c20220630_pdd" title="Temporary Equity, Shares Authorized"><span id="xdx_903_eus-gaap--TemporaryEquitySharesAuthorized_c20211231_pdd" title="Temporary Equity, Shares Authorized"><ix:nonFraction name="us-gaap:TemporaryEquitySharesAuthorized" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:TemporaryEquitySharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></ix:nonFraction></span></span> shares authorized; <span id="xdx_90C_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_c20220630_pdd" title="Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Number of Shares"><span id="xdx_904_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_c20211231_pdd" title="Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Number of Shares"><ix:nonFraction name="us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></ix:nonFraction></span></span> shares subject to possible redemption at $<span id="xdx_905_eus-gaap--TemporaryEquityRedemptionPricePerShare_c20220630_pdd" title="Temporary Equity, Redemption Price Per Share"><span id="xdx_900_eus-gaap--TemporaryEquityRedemptionPricePerShare_c20211231_pdd" title="Temporary Equity, Redemption Price Per Share"><ix:nonFraction name="us-gaap:TemporaryEquityRedemptionPricePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:TemporaryEquityRedemptionPricePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.15</ix:nonFraction></ix:nonFraction></span></span> per share</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:TemporaryEquityValueExcludingAdditionalPaidInCapital" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">210,105,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:TemporaryEquityValueExcludingAdditionalPaidInCapital" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">210,105,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40A_eus-gaap--StockholdersEquityAbstract_iB_zAGuk92sivtk" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Stockholders&#8217; Deficit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--PreferredStockValue_i01I_d0_maCzgyd_zo5iniI0rGU7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Preferred stock, $<span id="xdx_90C_eus-gaap--PreferredStockParOrStatedValuePerShare_c20220630_pdd" title="Preferred Stock, Par or Stated Value Per Share"><span id="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_c20211231_pdd" title="Preferred Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> par value; <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_c20220630_pdd" title="Preferred Stock, Shares Authorized"><span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_c20211231_pdd" title="Preferred Stock, Shares Authorized"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></ix:nonFraction></span></span> shares authorized; <span id="xdx_90C_eus-gaap--PreferredStockSharesIssued_iI_dn_c20220630_zKMyAWQwH40c" title="Preferred Stock, Shares Issued"><span id="xdx_909_eus-gaap--PreferredStockSharesOutstanding_iI_dn_c20220630_zbrGrUO0FOxg" title="Preferred Stock, Shares Outstanding"><span id="xdx_900_eus-gaap--PreferredStockSharesIssued_iI_dn_c20211231_zUS2s8eZnnkh" title="Preferred Stock, Shares Issued"><span id="xdx_90F_eus-gaap--PreferredStockSharesOutstanding_iI_dn_c20211231_zfGsk1NxMSok" title="Preferred Stock, Shares Outstanding"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">none</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> issued and outstanding</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:PreferredStockValue" contextRef="AsOf2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:PreferredStockValue" contextRef="AsOf2021-12-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Class&#160;A common stock, $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Par or Stated Value Per Share"><span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> par value; <span id="xdx_909_eus-gaap--CommonStockSharesAuthorized_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares Authorized"><span id="xdx_90C_eus-gaap--CommonStockSharesAuthorized_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></ix:nonFraction></span></span> shares authorized; <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares, Issued"><span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares, Outstanding"><span id="xdx_909_eus-gaap--CommonStockSharesIssued_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares, Issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> non-redeemable shares issued and outstanding (excluding 20,700,000 common shares subject to possible redemption)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--CommonStockValue_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pp0p0" title="Common Stock, Value, Issued" style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_980_eus-gaap--CommonStockValue_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pp0p0" title="Common Stock, Value, Issued" style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Class&#160;B common stock, $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Par or Stated Value Per Share"><span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> par value; <span id="xdx_908_eus-gaap--CommonStockSharesAuthorized_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares Authorized"><span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></ix:nonFraction></span></span> shares authorized; <span id="xdx_90D_eus-gaap--CommonStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares, Issued"><span id="xdx_901_eus-gaap--CommonStockSharesOutstanding_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares, Outstanding"><span id="xdx_90A_eus-gaap--CommonStockSharesIssued_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares, Issued"><span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> shares issued and outstanding</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_984_eus-gaap--CommonStockValue_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pp0p0" title="Common Stock, Value, Issued" style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">518</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_987_eus-gaap--CommonStockValue_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pp0p0" title="Common Stock, Value, Issued" style="text-align: right"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2021-12-31_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">518</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--AdditionalPaidInCapital_iI_d0_maCzgyd_z5aVntnz3xM6" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Additional paid-in capital</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" contextRef="AsOf2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" contextRef="AsOf2021-12-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_401_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_maCzgyd_zbbaaWPbTsp1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Accumulated deficit</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,280,366</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,155,469</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr id="xdx_409_eus-gaap--StockholdersEquity_iTI_mtCzgyd_maCzUfh_zLmgj6Qds4G8" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total stockholders&#8217; deficit</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,279,833</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,154,936</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr id="xdx_400_eus-gaap--LiabilitiesAndStockholdersEquity_iTI_mtCzUfh_zujZkeEhW03b" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left"><b>Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders&#8217;
    Deficit</b></td><td style="font-weight: bold; padding-bottom: 2.5pt"><b>&#160;</b></td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">211,397,235</ix:nonFraction></b></p></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><b>&#160;</b></td><td style="font-weight: bold; padding-bottom: 2.5pt"><b>&#160;</b></td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><b><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">211,668,654</ix:nonFraction></b></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"><b>&#160;</b></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><i>The
accompanying notes are an integral part of these unaudited condensed financial statements. </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 3; Options: NewSection -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_003"></span>UNAUDITED
CONDENSED STATEMENTS OF OPERATIONS </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30B_113_zIZDg6raZgV4" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENTS OF OPERATIONS" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt">&#160;</td>
<td style="font-size: 10pt">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td id="xdx_49A_20220401__20220630_zVXwj3ad32C3" style="font-size: 10pt; text-align: right">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td style="font-size: 10pt">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td id="xdx_499_20210401__20210630_z191HCMpVJQ8" style="font-size: 10pt; text-align: right">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td style="font-size: 10pt">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td id="xdx_49D_20220101__20220630_zPyqkFczvePc" style="font-size: 10pt; text-align: right">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td style="font-size: 10pt">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td>
<td id="xdx_49D_20210101__20210630_zJJJaRdbYgJ8" style="font-size: 10pt; text-align: right">&#160;</td>
<td style="font-size: 10pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the Three Months Ended June 30, 2022</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the Three Months Ended June 30, 2021</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the Six Months Ended June 30, 2022</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the Six Months Ended June 30, 2021</span></td></tr>
<tr id="xdx_403_eus-gaap--GeneralAndAdministrativeExpense_d0_maCzvJJ_zHyNWWzWzKI2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; width: 40%; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses</span></td>
<td style="width: 3%; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">163,043</ix:nonFraction></span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 3%; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 3%; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">232,796</ix:nonFraction></span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 3%; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:GeneralAndAdministrativeExpense" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">450</ix:nonFraction></span></td>
<td style="width: 1%; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_40A_ecustom--GeneralAndAdministrativeExpensesRelatedParty_d0_maCzvJJ_zEah9WSxkVAg" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative expenses &#150; related party</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:GeneralAndAdministrativeExpensesRelatedParty" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">30,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:GeneralAndAdministrativeExpensesRelatedParty" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:GeneralAndAdministrativeExpensesRelatedParty" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:GeneralAndAdministrativeExpensesRelatedParty" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_406_ecustom--FranchiseTaxExpense_d0_maCzvJJ_zDqxqppgSWrj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Franchise
tax expense</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:FranchiseTaxExpense" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">162,614</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:FranchiseTaxExpense" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:FranchiseTaxExpense" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">212,664</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:FranchiseTaxExpense" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_409_eus-gaap--OperatingExpenses_iNT_di0_mtCzvJJ_msCzBE1_zwtEyMsKRVH7" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
operating expenses</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">355,657</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">505,460</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">450</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr id="xdx_40D_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_d0_maCzBE1_zh0jRqkiOT3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
earned on investments held in Trust Account</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:MarketableSecuritiesUnrealizedGainLoss" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">283,719</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:MarketableSecuritiesUnrealizedGainLoss" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:MarketableSecuritiesUnrealizedGainLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">304,876</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:MarketableSecuritiesUnrealizedGainLoss" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_405_eus-gaap--FairValueAdjustmentOfWarrants_iN_di0_msCzBE1_zTnMHcAsEcta" style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change
in fair value of derivative warrant liabilities</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,295,687</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,075,687</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_404_eus-gaap--NetIncomeLoss_iT_d0_mtCzBE1_z7GD5DAkeAxc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
Income/(Loss)</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,223,749</ix:nonFraction></span></td>
<td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-04-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,875,103</ix:nonFraction></span></td>
<td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">450</ix:nonFraction></span></td>
<td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
average common shares outstanding, basic and diluted</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
A</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98E_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20220401__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2022-04-012022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_982_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_d0_c20210401__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zJqLRGoJCpgj" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2021-04-012021-06-30_custom_CommonStockClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_983_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2022-01-012022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_984_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_d0_c20210101__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zlMX2CGZt1me" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2021-01-012021-06-30_custom_CommonStockClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
B</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98F_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20220401__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2022-04-012022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98D_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20210401__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2021-04-012021-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,500,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_98C_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2022-01-012022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td id="xdx_982_ecustom--WeightedAverageNumberOfSharesOutstandingBasicAndDiluted_c20210101__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Weighted Average Number of Shares Outstanding, Basic and Diluted" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:WeightedAverageNumberOfSharesOutstandingBasicAndDiluted" contextRef="From2021-01-012021-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,500,000</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
and diluted net income/(loss) per common share</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
A</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td id="xdx_980_ecustom--EarningPerShareBasicAndDiluted_c20220401__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2022-04-012022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.12</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span><p style="margin: 0">$</p></td>
<td id="xdx_98A_ecustom--EarningPerShareBasicAndDiluted_d0_c20210401__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zuIeSz0IBRIg" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2021-04-012021-06-30_custom_CommonStockClassAMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td id="xdx_98D_ecustom--EarningPerShareBasicAndDiluted_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_pdd" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2022-01-012022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.26</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#160;</span></td>
<td id="xdx_98F_ecustom--EarningPerShareBasicAndDiluted_d0_c20210101__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zYMyer2g63ij" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2021-01-012021-06-30_custom_CommonStockClassAMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
B</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td id="xdx_981_ecustom--EarningPerShareBasicAndDiluted_c20220401__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2022-04-012022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.12</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span><p style="margin: 0">$</p></td>
<td id="xdx_988_ecustom--EarningPerShareBasicAndDiluted_d0_c20210401__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_zFkeW4q7pBAc" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2021-04-012021-06-30_custom_CommonStockClassBMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td id="xdx_98E_ecustom--EarningPerShareBasicAndDiluted_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2022-01-012022-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.26</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td id="xdx_98C_ecustom--EarningPerShareBasicAndDiluted_c20210101__20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassBMember_pdd" title="Basic and diluted net income/(loss) per share" style="font-size: 10pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(<ix:nonFraction name="AVACU:EarningPerShareBasicAndDiluted" contextRef="From2021-01-012021-06-30_custom_CommonStockClassBMember" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="USDPShares">0.00</ix:nonFraction></span></td>
<td style="font-size: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr>
</table>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><i>The
accompanying notes are an integral part of these unaudited condensed financial statements. </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 4 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_004"></span>UNAUDITED
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS&#8217; EQUITY/(DEFICIT)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" id="xdx_308_114_zbB2Mv0W8Jhf" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS&apos; EQUITY/(DEFICIT)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -7.5pt; padding-left: 7.5pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_4B8_us-gaap--StatementEquityComponentsAxis_custom--ClassACommonStockMember_zQaAgXfgTxql" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_4B0_us-gaap--StatementEquityComponentsAxis_custom--ClassBCommonStockMember_zJAVBhLyAKGd" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_4B7_us-gaap--StatementEquityComponentsAxis_us-gaap--AdditionalPaidInCapitalMember_z85vXuglpcgf" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_4B3_us-gaap--StatementEquityComponentsAxis_us-gaap--RetainedEarningsMember_zlPYTBHUKomg" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_4B2_zOZ5fgCH1Zg1" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="29" style="font-weight: bold; text-align: center">For the Three Months Ended June 30, 2022</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="29" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="15" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Additional Paid-in</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Total Stockholders&#146;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Capital</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td></tr>
  <tr id="xdx_432_c20220401__20220630_eus-gaap--StockholdersEquity_iS_zI2VLCMocsgh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-weight: bold; text-indent: -7.5pt; padding-left: 7.5pt">Balance at March 31, 2022 (unaudited)</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_983_eus-gaap--SharesOutstanding_iS_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_za5xwAGr1fDc" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-03-31_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98B_eus-gaap--SharesOutstanding_iS_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zuEFlYNrxFj9" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-03-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0258">&#151;</span></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">11,504,115</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-03-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">11,503,582</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td></tr>
  <tr id="xdx_400_eus-gaap--ProfitLoss_zT9GTJ18kaYf" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt; text-indent: -7.5pt; padding-left: 7.5pt">Net income</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0266">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0267">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0268">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-04-012022-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,223,749</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,223,749</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_433_c20220401__20220630_eus-gaap--StockholdersEquity_iE_zS5rzU86svM3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -7.5pt; padding-left: 7.5pt">Balance at June 30, 2022 (unaudited)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_985_eus-gaap--SharesOutstanding_iE_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_z3Dn45Ub3jKe" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-06-30_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98D_eus-gaap--SharesOutstanding_iE_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zIXBZ9q4ZGTf" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0274">&#151;</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,280,366</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,279,833</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td colspan="29" style="font-weight: bold; text-align: center">For the Three Months Ended June 30, 2021</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="29" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="15" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Additional Paid-in</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Total Stockholders&#146;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Capital</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Equity</td></tr>
  <tr id="xdx_43B_c20210401__20210630_eus-gaap--StockholdersEquity_iS_z9RiMKZkV0og" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-weight: bold; text-indent: -7.5pt; padding-left: 7.5pt">Balance at March 31, 2021 (unaudited)</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--SharesOutstanding_iS_c20210401__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_zrOpoFp8COB1" title="Beginning balance, shares" style="width: 5%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0288">&#8212;</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0282">&#151;</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98E_eus-gaap--SharesOutstanding_iS_c20210401__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zoifa9gZQJ06" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-03-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_us-gaap_AdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,482</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,947</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-03-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,053</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr id="xdx_403_eus-gaap--ProfitLoss_zTy6zJnAwQy9" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt; text-indent: -7.5pt; padding-left: 7.5pt">Net income</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0292">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#151;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0293">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0294">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0295">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0296">&#151;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_432_c20210401__20210630_eus-gaap--StockholdersEquity_iE_zbePHoLKmzha" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -7.5pt; padding-left: 7.5pt">Balance at June 30, 2021 (unaudited)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_982_eus-gaap--SharesOutstanding_iE_c20210401__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_zO7LZHGqe5Ef" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0304">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0298">&#151;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_989_eus-gaap--SharesOutstanding_iE_c20210401__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zIbxYA43wfpe" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_us-gaap_AdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,482</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,947</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,053</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td colspan="29" style="font-weight: bold; text-align: center">For the Six Months Ended June 30, 2022</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="29" style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="15" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Additional Paid-in</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Total Stockholders&#8217;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Capital</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td></tr>
<tr id="xdx_430_c20220101__20220630_eus-gaap--StockholdersEquity_iS_zLmp33sUMYb5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-weight: bold">Balance at December 31, 2021</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98C_eus-gaap--SharesOutstanding_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_zdXKyojGGS1" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-12-31_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98A_eus-gaap--SharesOutstanding_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zvgLzASZESd9" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-12-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0310">&#8212;</span></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,155,469</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">15,154,936</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td></tr>
<tr id="xdx_404_eus-gaap--ProfitLoss_i_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net income</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0318">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0319">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0320">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-01-012022-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,875,103</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,875,103</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_436_c20220101__20220630_eus-gaap--StockholdersEquity_iE_zHGxblQ0Gh9j" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Balance at June 30, 2022 (unaudited)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_988_eus-gaap--SharesOutstanding_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_z6Use5FtOhuh" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-06-30_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_custom_ClassACommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">15</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_98D_eus-gaap--SharesOutstanding_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zlqYnnQL6Q32" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2022-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0326">&#8212;</span></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,280,366</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,279,833</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 20pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td colspan="29" style="font-weight: bold; text-align: center">For the Six Months Ended June 30, 2021</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="29" style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="15" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Common Stock</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="text-align: center">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Additional Paid-in</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Total Stockholders&#8217;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Capital</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Deficit</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Equity</td></tr>
<tr id="xdx_43D_c20210101__20210630_eus-gaap--StockholdersEquity_iS_zo4sP8kQJedg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 37%; font-weight: bold">Balance at December 31, 2020</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_982_eus-gaap--SharesOutstanding_iS_c20210101__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_z6vdsY9xCdE1" title="Beginning balance, shares" style="width: 5%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0340">&#8212;</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 5%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0334">&#8212;</span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td id="xdx_981_eus-gaap--SharesOutstanding_iS_c20210101__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_zQstvRnQgor3" title="Beginning balance, shares" style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2020-12-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_us-gaap_AdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,482</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,497</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 2%; font-weight: bold">&#160;</td>
    <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 5%; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,503</ix:nonFraction></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--ProfitLoss_zstKfrHxeW33" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net loss</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0344">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0345">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0346">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-01-012021-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">450</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:ProfitLoss" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">450</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr id="xdx_439_c20210101__20210630_eus-gaap--StockholdersEquity_iE_zIAYPHnljhA3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Balance at June 30, 2021 (unaudited)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_988_eus-gaap--SharesOutstanding_iE_c20210101__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassACommonStockMember_zdhB0CiWlKDe" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0356">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0350">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--SharesOutstanding_iE_c20210101__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_z7vyeSSWaSEl" title="Ending balance, shares" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">518</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_us-gaap_AdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">24,482</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,947</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,053</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
</table>


<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 60pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><i>The
accompanying notes are an integral part of these unaudited condensed financial statements. </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 5 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>UNAUDITED</b>&#160;<b><span id="a_005"></span>CONDENSED
STATEMENTS OF CASH FLOWS </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30C_112_z6U2s1CoM6T2" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: center">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49C_20220101__20220630_zB7WYsbf9YS1" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_490_20210101__20210630_zTjPbMyuRQxg" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended June 30, 2022</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended June 30, 2021</td></tr>
<tr id="xdx_402_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_zJaenSgLbx1f" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Cash flows from operating activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40A_eus-gaap--NetIncomeLoss_maCzJcz_zg5WbBFlPiaj" style="vertical-align: bottom; background-color: White">
    <td style="width: 56%">Net income/(loss)</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,875,103</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(<ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">450</ix:nonFraction></td><td style="width: 1%; text-align: left">)</td></tr>
<tr id="xdx_40F_eus-gaap--AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_iB_zJhbbcPb9XS" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Adjustments to reconcile net income/(loss) to net cash used in operating activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--DebtSecuritiesUnrealizedGainLoss_iN_di0_msCzJcz_zP1p2EyqyU1j" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Income earned on investments held in Trust Account</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:DebtSecuritiesUnrealizedGainLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">304,876</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:DebtSecuritiesUnrealizedGainLoss" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40B_ecustom--FairValueAdjustmentsOfWarrants_d0_maCzJcz_zFhBdSO5fjUl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Change in fair value of derivative warrant liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="AVACU:FairValueAdjustmentsOfWarrants" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,075,687</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="AVACU:FairValueAdjustmentsOfWarrants" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40B_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_iB_zuXREB2b88l2" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Changes in operating assets and liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--IncreaseDecreaseInPrepaidExpense_i01N_di0_msCzJcz_ztLl4KtEk7qb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Prepaid expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidExpense" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">73,416</ix:nonFraction></td><td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidExpense" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></td><td style="font-weight: bold; text-align: left">&#160;</td></tr>
<tr id="xdx_40A_eus-gaap--IncreaseDecreaseInAccountsPayable_i01_maCzJcz_zG1jvG2sxpMj" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Accounts payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayable" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">29,147</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayable" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,497</ix:nonFraction></td><td style="text-align: left">)</td></tr>
<tr id="xdx_405_ecustom--IncreaseDecreaseInFranchaiseTaxPayable_d0_maCzJcz_zWwK7KVqomsc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Franchise tax payable</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="AVACU:IncreaseDecreaseInFranchaiseTaxPayable" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">41,688</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><ix:nonFraction name="AVACU:IncreaseDecreaseInFranchaiseTaxPayable" contextRef="From2021-01-012021-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">&#160;</td></tr>
<tr id="xdx_40B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iT_mtCzJcz_maCzivG_zvKSSQYBShq8" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Net cash used in operating activities</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">502,879</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,947</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zRf6YFLe39Q7" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Cash flows from Financing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_404_eus-gaap--PaymentsOfDebtIssuanceCosts_iN_di0_msCzvjb_z6Ad9bIomvfj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Payment of offering costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:PaymentsOfDebtIssuanceCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:zerodash" decimals="0" sign="-" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:PaymentsOfDebtIssuanceCosts" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">198,899</ix:nonFraction></td><td style="text-align: left">)</td></tr>
<tr id="xdx_405_eus-gaap--ProceedsFromRelatedPartyDebt_d0_maCzvjb_zaOcRvstXIHi" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from note payable to related party</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">190,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInFinancingActivities_iT_d0_mtCzvjb_maCzivG_zwEaKkGrU72h" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">Net cash used in financing activities</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">8,899</ix:nonFraction></td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_iT_mtCzivG_z4T5iz0VxWT7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Net Change in Cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">502,879</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">10,846</ix:nonFraction></td><td style="text-align: left">)</td></tr>
<tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_zKQZTmIrEo1h" style="vertical-align: bottom; background-color: White">
    <td>Cash&#8212;Beginning of period</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,036,693</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">12,500</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_zCBBbgA6oxHd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Cash&#8212;Ending of period</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">533,814</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,654</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_iB_ziDt2FnFsBPg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Supplemental Disclosures of Non-Cash investing and financing activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_ecustom--DeferredOfferingCostsIncludedInAccruedOfferingCosts_d0_zIlSG9D5QB2g" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred offering costs included in accrued offering costs</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><ix:nonFraction name="AVACU:DeferredOfferingCostsIncludedInAccruedOfferingCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="AVACU:DeferredOfferingCostsIncludedInAccruedOfferingCosts" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">171,324</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><i>The
accompanying notes are an integral part of these unaudited condensed financial statements. </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 6 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 20pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON
ACQUISITION INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_018"></span>NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<b>JUNE
30, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock"><p id="xdx_802_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zNfyGlZxTBZc" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
1 &#8212; <span id="xdx_829_zZR8I4YjJ80j">DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Avalon
Acquisition Inc. (the &#8220;Company&#8221;) was incorporated in Delaware on October 12, 2020. 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 &#8220;Business Combination&#8221;). The Company has initiated discussions with potential business
combination targets, though it has not selected any business combination target.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Although
the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination,
the Company intends to focus on businesses that are in the financial services and financial technologies industries. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage
and emerging growth companies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">As
of June 30, 2022, the Company had not commenced any operations. All activity for the period from October 12, 2020 (inception)
through June 30, 2022 relates to the Company&#8217;s formation, the initial public offering (&#8220;Initial Public Offering&#8221;),
which is described below, and identifying a target company for a Business Combination. The Company will not generate any operating
revenues until after the completion of its initial Business Combination, at the earliest. The Company currently generates&#160;non-operating&#160;income
in the form of income from the proceeds derived from the Initial Public Offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
registration statement for the Company&#8217;s Initial Public Offering was declared effective on October 5, 2021. On October 8,
2021, the Company consummated the Initial Public Offering of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zmWbzTVxMwr9" title="Stock issued during period shares new issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-01-012021-12-31_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></span> units (the &#8220;Units&#8221; and, with respect to the
shares of Class A common stock included in the Units sold, the &#8220;Public Shares&#8221;), which includes the full exercise
by the underwriter of the over-allotment option to purchase an additional <span id="xdx_90B_ecustom--AdditionalOptionPurchase_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Additional option purchase"><ix:nonFraction name="AVACU:AdditionalOptionPurchase" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,700,000</ix:nonFraction></span> Units, at $<span id="xdx_900_eus-gaap--SharePrice_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__custom--WarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Share Price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span> per Unit, generating gross
proceeds of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zzSDp4uqLJx8" title="Stock issued during period value new issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">207,000,000</ix:nonFraction></span>, which is described in Note 3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of <span id="xdx_90F_ecustom--SaleOfWarrants_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__custom--WarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zK4eCUA4lGk9" title="Sale of private placement warrant"><ix:nonFraction name="AVACU:SaleOfWarrants" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">8,100,000</ix:nonFraction></span> warrants (each, a &#8220;Private
Placement Warrant&#8221; and, collectively, the &#8220;Private Placement Warrants&#8221;) at a price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__custom--WarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zA76PcM1FxAf" title="Stock price per Share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction></span> per Private Placement
Warrant in a private placement to Avalon Acquisition Holdings, LLC (the &#8220;Sponsor&#8221;), generating gross proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__custom--WarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pp0p0" title="Proceed from sales of stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_custom_WarrantsMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,100,000</ix:nonFraction></span>,
which is described in Note 3.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Following
the closing of the Initial Public Offering on October 8, 2021, an amount of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211001__20211008__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zqLtM1lcSlX9" title="Intial public offering price"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2021-10-012021-10-08_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">210,105,000</ix:nonFraction></span>
($10.15 per Unit) from the net proceeds of the sale of the units in the Initial Public Offering and the sale of the Private
Placement Warrants was placed in a trust account (the &#8220;Trust Account&#8221;) located in the United States and invested only in
an open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of
Rule&#160;2a-7 of the Investment Company Act of 1940, as amended (the &#8220;Investment Company Act&#8221;), as determined by the
Company, until the earlier of (i)&#160;the completion of a Business Combination or (ii)&#160;the distribution of the funds in the
Trust Account, as described below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Company&#8217;s management
has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private
Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business
Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company&#8217;s
initial Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of
the balance in the Trust Account (as defined below) (excluding taxes payable on interest income earned from the Trust Account and the
deferred underwriting commissions) at the time of the agreement to enter into the initial Business Combination. The Company will only
complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act. There is no assurance that the Company will be able to complete a Business Combination successfully.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23E_zmNWJmd2z7e4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 7 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_233_zIxBA10KtKz1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;The
Company will provide its holders of the outstanding Public Shares (the &#8220;Public Stockholders&#8221;) with the opportunity
to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i)&#160;in connection
with a stockholder meeting called to approve the Business Combination or (ii)&#160;by means of a tender offer. The decision as
to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the
Company, solely in its discretion. The Public Stockholders will be entitled to redeem their Public Shares for a pro rata portion
of the amount then in the Trust Account (initially anticipated to be $10.15 per Public Share, plus any pro rata interest earned
on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount
to be distributed to Public Stockholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions
the Company will pay to the underwriter (as discussed in Note&#160;5). There will be no redemption rights upon the completion
of a Business Combination with respect to the Company&#8217;s warrants. The Public Shares subject to redemption are recorded at
redemption value and classified as temporary equity in accordance with the Accounting Standards Codification (&#8220;ASC&#8221;)
Topic 480, &#8220;Distinguishing Liabilities from Equity.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation
of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of
the Business Combination. If a stockholder vote is not required by law or stock exchange requirements and the Company does not
decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated
Certificate of Incorporation (the &#8220;Amended and Restated Certificate of Incorporation&#8221;), conduct the redemptions pursuant
to the tender offer rules of the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) and file tender offer documents with
the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or
the Company decides to obtain stockholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction
with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder
approval in connection with a Business Combination, the Company&#8217;s Sponsor has agreed to vote their Founder Shares (as defined
in Note&#160;4) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination.
Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against
the proposed transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Notwithstanding
the above, if the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to
the tender offer rules, the Amended and Restated Certificate of Incorporation provides that a public stockholder, together with
any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a &#8220;group&#8221;
(as defined under Section&#160;13 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;)), will be
restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior
consent of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company&#8217;s Sponsor has agreed (i)&#160;to waive its redemption rights with respect to its Founder Shares and Public Shares
held by it in connection with the completion of a Business Combination and (ii)&#160;not to propose an amendment to the Company&#8217;s
Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company&#8217;s obligation
to redeem 100% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the public
stockholders with the opportunity to redeem their shares in conjunction with any such amendment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company will have until January 8, 2023 to consummate a Business Combination or until July 8, 2023 if the Company extends the
period of time to consummate an initial Business Combination by the full amount of time (the &#8220;Combination Period&#8221;).
If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i)&#160;cease all
operations except for the purpose of winding up, (ii)&#160;as promptly as reasonably possible but not more than ten business days
thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay taxes (less up to $100,000 to pay dissolution expenses), divided by the number of then outstanding Public Shares, which
redemption will completely extinguish public stockholders&#8217; rights as stockholders (including the right to receive further
liquidating distributions, if any), subject to applicable law, and (iii)&#160;as promptly as reasonably possible following such
redemption, subject to the approval of the Company&#8217;s remaining stockholders and the Company&#8217;s board of directors,
dissolve and liquidate, subject in each case to the Company&#8217;s obligations under Delaware law to provide for claims of creditors
and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to
the Company&#8217;s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination
Period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23D_zjts1YSctbDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 8 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_237_zRmvgesLyeh5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Sponsor has agreed to waive its right to liquidating distributions from the Trust Account with respect to the Founder Shares if
the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor acquires Public Shares
in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account
if the Company fails to complete a Business Combination within the Combination Period. The underwriter has agreed to waive their
rights to their deferred underwriting commission (see Note&#160;5) held in the Trust Account in the event the Company does not
complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other
funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution,
it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public
Offering price per Unit ($10.00).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In order to protect the amounts
held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services
rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction
agreement, reduce the amount of funds in the Trust Account to below (i)&#160;$10.15 per Public Share or (ii)&#160;such lesser amount per
Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust
assets, in each case net of the interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a
waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company&#8217;s indemnity of the
underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended
(the &#8220;Securities Act&#8221;). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party,
the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility
that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers
(other than the Company&#8217;s independent registered public accounting firm), prospective target businesses or other entities with which
the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies
held in the Trust Account.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Liquidity
and Going Concern</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">As
of June 30, 2022, the Company had $<span id="xdx_904_eus-gaap--CashAndCashEquivalentsAtCarryingValue_c20220630_pp0p0" title="Cash"><ix:nonFraction name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">533,814</ix:nonFraction></span> in its operating bank account, $<span id="xdx_900_eus-gaap--AssetsHeldInTrustCurrent_c20220630_pp0p0" title="Assets held in trust account"><ix:nonFraction name="us-gaap:AssetsHeldInTrustCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">210,413,963</ix:nonFraction></span> in securities held in the Trust Account
to be used for a Business Combination or to repurchase or redeem its common stock in connection therewith, and working capital
of $<span id="xdx_902_ecustom--WorkingCapital_c20220101__20220630_pp0p0" title="Working capital"><ix:nonFraction name="AVACU:WorkingCapital" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">875,917</ix:nonFraction></span> which excludes franchise and income taxes payable as such amounts can be paid from income earned in the Trust Account.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Until
the consummation of a Business Combination, the Company will be using the funds not held in the Trust Account for identifying
and evaluating prospective acquisition candidates, performing due diligence on prospective target businesses, paying for travel
expenditures, selecting the target business to acquire, and structuring, negotiating and consummating the Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Prior
to the consummation of its Initial Public Offering, the Company&#8217;s liquidity needs were satisfied through the payment of
$<span id="xdx_90B_ecustom--ProceedsFromSaleOfSharesOfCommonStockToInitialShareholder_c20220101__20220630_pp0p0" title="Proceeds from sale of shares of common stock to initial shareholder"><ix:nonFraction name="AVACU:ProceedsFromSaleOfSharesOfCommonStockToInitialShareholder" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,000</ix:nonFraction></span>&#160;from the Sponsor to cover certain expenses on behalf of the Company in consideration of Founder Shares (as defined
in Note 4), and a loan from the Sponsor of $<span id="xdx_906_ecustom--ProceedsFromPromissoryNoteWithRelatedParties_c20220101__20220630_pp0p0" title="Proceeds from promissory note with related parties"><ix:nonFraction name="AVACU:ProceedsFromPromissoryNoteWithRelatedParties" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">197,000</ix:nonFraction></span>&#160;under the Note (as defined in Note&#160;4) which was repaid in full on
October 15, 2021. Following the consummation of the Initial Public Offering, the Company&#8217;s liquidity has been satisfied
through the net proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn3n3_dm_c20220101__20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zFcsxug1jdU1" title="Proceeds initial public offering"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2022-01-012022-06-30_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="-3" scale="6" unitRef="USD">1.82</ix:nonFraction></span>&#160;million from the consummation of the Initial Public Offering (including the Over-Allotment)
and the Private Placement held outside of the Trust Account. 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&#8217;s officers and directors
may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 4). As of June 30, 2022 and December
31, 2021, there were no amounts outstanding under any Working Capital Loans.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs
through one year from this filing. Over this time period, the Company will be using the funds held outside of the Trust Account for paying
existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on
prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring,
negotiating and consummating the Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In connection with the Company&#8217;s
assessment of going concern considerations in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards
Update (&#8220;ASU&#8221;)&#160;2014-15,&#160;&#8220;Disclosures of Uncertainties about an Entity&#8217;s Ability to Continue as a Going
Concern,&#8221; management has determined that the mandatory liquidation and subsequent dissolution raises substantial doubt about the
Company&#8217;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 January 8, 2023. The unaudited condensed financial statements do not include any adjustment
that might be necessary if the Company is unable to continue as a going concern. Management plans to complete a business combination prior
to the mandatory liquidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80D_eus-gaap--SignificantAccountingPoliciesTextBlock_z9lRJfnc6ayi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
2 &#8212; <span id="xdx_82A_z6UvI0vR6Fyb">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock"><p id="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zGBKfok4bfO6" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_863_zI0hQCthrWo6">Basis
of Presentation</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The unaudited condensed financial
statements of the Company are presented in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;)
and pursuant to the rules and regulations of the SEC. Certain information or footnote disclosures normally included in financial statements
prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial
reporting. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of financial position,
results of operations, or cash flows. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair
presentation have been included.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_238_zw2ropnGmCL1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 9 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23B_zB7iPg2EiLF" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes
thereto included in the annual report on Form 10-K filed by the Company with the SEC on March 30, 2022. The interim results for the
three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December
31, 2022 or for any future periods.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:EmergingGrowthCompanyPolicyTextBlock"><p id="xdx_84F_ecustom--EmergingGrowthCompanyPolicyTextBlock_zf0Q0ZRBesNi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86D_zTHsyh2bmonk">Emerging
Growth Company</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company is an &#8220;emerging growth company,&#8221; as defined in Section&#160;2(a) of the Securities Act, as modified by the
JOBS Act, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public
companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent
registered public accounting firm attestation requirements of Section&#160;404 of the Sarbanes-Oxley Act, reduced disclosure obligations
regarding executive compensation in its periodic reports and proxy statements, not being required to comply with any requirement
that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or to provide a supplement
to the auditor&#8217;s report providing additional information about the audit and the financial statements and exemptions from
the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Further,
Section&#160;102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The
Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and
it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the
new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company&#8217;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.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_847_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zJHwwGpXKcb1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86B_zQ00gOEGBTTa">Cash
and Cash Equivalents</span></i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.
There were <span id="xdx_907_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20220630_zH4u5UTvaIG6" title="Cash equivalents"><span id="xdx_90C_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20211231_z0XH17JCtBse" title="Cash equivalents"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD">no</ix:nonFraction></ix:nonFraction></span></span> cash equivalents at June 30, 2022 and December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:InvestmentsInTrustAccountPolicyTextBlock"><p id="xdx_84F_ecustom--InvestmentsInTrustAccountPolicyTextBlock_zE35tnHzRbkk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_863_z2ZqBLF7tK3">Investments in Trust Account</span></i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Investments held in trust account is comprised of investments in a money
market fund that invests in U.S. government securities and generally have a readily determinable fair value. Such investments are recognized
at fair value and presented on the condensed balance sheets at the end of each reporting period. Gains and losses resulting from the change
in fair value of these securities are included in income from investments held in trust account in the accompanying unaudited condensed
statements of operations. The estimated fair values of investments held in the trust account are determined using available market information.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:DeferredOfferingCostsAssociatedWithTheInitialPublicOfferingPolicyTextBlock"><p id="xdx_84E_ecustom--DeferredOfferingCostsAssociatedWithTheInitialPublicOfferingPolicyTextBlock_zqGApBZEUm0b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_867_zjBLY0BRNQl">Deferred
Offering Costs Associated with the Initial Public Offering</span></i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin  Topic 5A &#8211; &#8220;Expenses
of Offering.&#8221; Costs incurred in connection with preparation for the Public Offering ($<span id="xdx_90F_eus-gaap--OtherDeferredCostsNet_iI_pp0p0_c20220630_zqPIZT1VYa4l" title="Deferred offering costs"><ix:nonFraction name="us-gaap:OtherDeferredCostsNet" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">695,809</ix:nonFraction></span>) together with $<span id="xdx_908_ecustom--UnderwritersDiscount_c20220630_pp0p0" title="Underwriters discount"><ix:nonFraction name="AVACU:UnderwritersDiscount" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,953,007</ix:nonFraction></span>
of underwriter&#8217;s discount, were allocated to equity instruments ($<span id="xdx_903_ecustom--AllocatedEquityInstruments_c20220101__20220630_pp0p0" title="Allocated equity instruments"><ix:nonFraction name="AVACU:AllocatedEquityInstruments" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">11,168,880</ix:nonFraction></span>) and derivative warrant liabilities ($<span id="xdx_904_eus-gaap--DerivativeFairValueOfDerivativeLiability_c20220630_pp0p0" title="Derivative warrant liabilities"><ix:nonFraction name="us-gaap:DerivativeFairValueOfDerivativeLiability" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">479,936</ix:nonFraction></span>),
based on their relative values, and charged to temporary equity or expensed (in the case of the portion allocated to derivative
warrant liabilities) upon completion of the Initial Public Offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock"><p id="xdx_84E_eus-gaap--IncomeTaxPolicyTextBlock_zixEKqW5adK4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_862_z9mSk4JI5rK3">Income
Taxes</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company follows the asset and liability method of accounting for income taxes under FASB ASC&#160;Topic 740, &#8220;Income Taxes.&#8221;
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between
the financial statement&#8217;s 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. As of June 30, 2022 and December 31, 2021, the Company had deferred tax
assets of approximately $<span id="xdx_907_eus-gaap--DeferredTaxAssetsNet_iI_c20220630_zWOeUnY2XJx7" title="Deferred tax assets"><ix:nonFraction name="us-gaap:DeferredTaxAssetsNet" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">217,000</ix:nonFraction></span> and $<span id="xdx_900_eus-gaap--DeferredTaxAssetsNet_iI_c20211231_z1L80H5pnpV3"><ix:nonFraction name="us-gaap:DeferredTaxAssetsNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">129,000</ix:nonFraction></span>, respectively, with a full valuation allowance against them.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Company&#8217;s current taxable
income primarily consists of income earned on the Trust Account. The Company&#8217;s general and administrative costs are generally considered
start-up costs and are not currently deductible. During the three and six months ended June 30, 2022, the Company recorded <span id="xdx_909_eus-gaap--IncomeTaxExpenseBenefit_do_c20220101__20220630_zcFdcZ4MKF06" title="Income tax expense"><span id="xdx_903_eus-gaap--IncomeTaxExpenseBenefit_do_c20220401__20220630_z3FTCBTE8ig4"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" contextRef="From2022-01-01to2022-06-30" format="ixt-sec:numwordsen" decimals="0" unitRef="USD"><ix:nonFraction name="us-gaap:IncomeTaxExpenseBenefit" contextRef="From2022-04-012022-06-30" format="ixt-sec:numwordsen" decimals="0" unitRef="USD">no</ix:nonFraction></ix:nonFraction></span></span> income tax
expense. The Company&#8217;s effective tax rate for the three and six months ended June 30, 2022 was approximately <span>0%</span>,
which differs from the expected income tax rate due to the start-up costs (discussed above), the change in value of warrant liabilities,
and the transaction costs allocated to the warrant liabilities which are not currently deductible.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23F_z6aFb7zVaKq6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 10 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_232_zDXP1OVUEfr6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">FASB
ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement
of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more
likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties
related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for
interest and penalties as of June 30, 2022 and December 31, 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. The Company is subject to income
tax examinations by major taxing authorities since inception.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_848_eus-gaap--EarningsPerSharePolicyTextBlock_zbLf51WX1qUl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_863_zogbFwUlWU7b">Net
Income/(Loss) per Common Share</span></i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company complies with accounting and disclosure requirements of FASB ASC Topic 260, &#8220;Earnings Per Share.&#8221; The Company
has two classes of shares, which are referred to as Class&#160;A common stock and Class&#160;B common stock. Income and losses
are shared pro rata between the two classes of shares. This presentation assumes a business combination as the most likely outcome.
Net income/(loss) per common stock is calculated by dividing the net income/(loss) by the weighted average shares of common stock
outstanding for the respective period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
calculation of diluted net income/(loss) per common stock does not consider the effect of the warrants issued in connection with the
IPO (including exercise of the over-allotment option) and the Private Placement to purchase an aggregate
of&#160;23,625,000&#160;shares of Class&#160;A common stock in the calculation of diluted income/(loss) per share, because their
exercise is contingent upon future events and their inclusion would be anti-dilutive under the treasury stock method. As a result,
diluted net income/(loss) per share is the same as basic net income/(loss) per share for the three and six months ended June 30,
2022 and 2021. Accretion associated with the redeemable Class&#160;A common stock is excluded from earnings per share as the
redemption value approximates fair value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="background-color: white">The
following tables present a reconciliation of the numerator and denominator used to compute basic and diluted net income/(loss) per share
for each class of common stock:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"><table cellspacing="0" cellpadding="0" id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zuojgexQxvIj" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span id="xdx_8B8_zubQrZXgjJHc" style="display: none; font-family: Times New Roman, Times, Serif">Schedule
    of basic and diluted net loss per share</span></td>
<td>&#160;</td>
<td>&#160;</td>
<td id="xdx_490_20220401__20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjF8YB6kS4li" style="text-align: right">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td id="xdx_49C_20220401__20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXaAdayx1MP9" style="text-align: right">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td id="xdx_49C_20210401__20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zovM0FAxzK2b" style="text-align: right">&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td>&#160;</td>
<td id="xdx_494_20210401__20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zNyZKR6BtFI9" style="text-align: right">&#160;</td>
<td>&#160;</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-left: 7.5pt; text-align: center; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="15" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Three Months Ended</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-left: 7.5pt; text-align: center; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June
30, 2022</b></span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June
30, 2021</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding-left: 7.5pt; text-align: center; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A</b></span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
B</b></span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A</b></span></td>
<td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
B</b></span></td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
and diluted net income/(loss) per common share:</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Numerator</i></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_400_ecustom--AllocationOfNetIncomeloss_d0_zt5wZr4GX1wk" style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 44%; padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allocation
of net income/(loss)</span></td>
<td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,582,845</ix:nonFraction></span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">640,904</ix:nonFraction></span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="width: 10%; text-align: right"><span><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassBMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></span></td>
<td style="width: 1%"></td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Denominator</i></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_405_ecustom--BasicAndDilutedWeightedAverageCommonStockOutstanding_d0_zohm7vCCpjpe" style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
and diluted weighted average common stock outstanding</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,500,000</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr id="xdx_409_ecustom--BasicAndDilutedNetIncomelossPerCommonStock_d0_zcERD5VIVZui" style="vertical-align: bottom; background-color: white">
<td style="padding-left: 7.5pt; text-indent: -7.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
and diluted net income/(loss) per common share</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.12</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2022-04-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.12</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
<td style="text-align: right"><span><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2021-04-012021-06-30_us-gaap_CommonClassBMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_490_20220101__20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuOOG5snYNV8" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49C_20220101__20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zTUAd0vHF59l" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_495_20210101__20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyluSQGMnHZh" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_496_20210101__20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUwwLRm6PyTk" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="15" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2021</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Basic and diluted net income/(loss) per common share:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic">Numerator</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_405_ecustom--AllocationOfNetIncomeloss_d0_zWeX6AVLZ0g1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 40%">Allocation of net income/(loss)</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,508,283</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,366,820</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right"><ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(<ix:nonFraction name="AVACU:AllocationOfNetIncomeloss" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="Shares">450</ix:nonFraction></td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic">Denominator</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_ecustom--BasicAndDilutedWeightedAverageCommonStockOutstanding_d0_zeiXl7xvdDA1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Basic and diluted weighted average common stock outstanding</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="Shares">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedWeightedAverageCommonStockOutstanding" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,500,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_ecustom--BasicAndDilutedNetIncomelossPerCommonStock_d0_z92p8nZVXcj2" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Basic and diluted net income/(loss) per common share</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.26</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2022-01-012022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.26</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassAMember" format="ixt:zerodash" decimals="INF" unitRef="USDPShares">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">(<ix:nonFraction name="AVACU:BasicAndDilutedNetIncomelossPerCommonStock" contextRef="From2021-01-012021-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" sign="-" unitRef="USDPShares">0.00</ix:nonFraction></td><td style="text-align: left">)</td></tr>
</table>


</ix:nonNumeric><p id="xdx_8A7_znBQSuBfENie" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:RedeemableCommonStockPolicyTextBlock"><p id="xdx_848_ecustom--RedeemableCommonStockPolicyTextBlock_zEhTsjNGVM33" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86D_zFb2muf1ehl5">Redeemable
Common Stock</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">As
discussed in Note 1, all of the <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zyL9RRii30ii" title="Sale of stock shares"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-01-012021-12-31_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></span> Public Shares sold as part of Units in the Initial Public Offering contain a redemption
feature which allows for the redemption of the Public Shares if the Company holds a stockholder vote or there is a tender offer
for shares in connection with a Business Combination. In accordance with FASB ASC 480, redemption provisions not solely within
the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which
involve the redemption and liquidation of all of the entity&#8217;s equity instruments, are excluded from the provisions of FASB
ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem
its Public Shares in an amount that would cause its net tangible assets (i.e., total assets less intangible assets and liabilities)
to be less than $<span id="xdx_90A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pp0p0_c20220630_zzsl2qcBfeL3" title="Net tangible assets"><ix:nonFraction name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,000,001</ix:nonFraction></span> upon the closing of a Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">While
redemptions cannot cause the Company&#8217;s net tangible assets to fall below $5,000,000, all shares of Class A common stock
sold in the Initial Public Offering are redeemable and will be classified as temporary equity on the Company&#8217;s
balance sheet until such time as a redemption event takes place. The value of Class A common stock that may be redeemed will be
equal to $10.15 per share (which is the assumed redemption price) multiplied by 20,700,000 shares of Class A common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:DerivativeWarrantLiabilitiesPolicyTextBlock"><p id="xdx_849_ecustom--DerivativeWarrantLiabilitiesPolicyTextBlock_zfyxhJ1xjgf9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86A_zjW0lsjUJGVj">Derivative
Warrant Liabilities</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Company accounts for warrants
as either equity-classified or liability-classified instruments based on an assessment of the warrant&#8217;s specific terms and in accordance
with FASB ASC 480, &#8220;Distinguishing Liabilities from Equity&#8221; (&#8220;ASC 480&#8221;) and ASC 815, &#8220;Derivatives and Hedging&#8221;
(&#8220;ASC 815&#8221;). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet
the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under
ASC 815, including whether the warrants are indexed to the Company&#8217;s own shares, among other conditions for equity classification.
This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent
quarterly period end date while the warrants are outstanding.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">For
issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded
as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the
criteria for equity classification, the warrants are required to be recorded at their initial fair value of the date of issuance,
and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain
or loss on the statements of operations. Costs associated with issuing the warrants classified as derivative liabilities are charged
to operations when the warrants are issued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_233_zyCOrSZh36Yc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 11 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_238_zDNOWUWE8hA" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ConcentrationRiskCreditRisk"><p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_z95YTIjlINFd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_861_z0tzwH5Ra5E2">Concentration
of Credit Risk</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Financial
instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution,
which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20220630_zGDpz3dglps9" title="Federal deposit insurance corporation coverage amount"><ix:nonFraction name="us-gaap:CashFDICInsuredAmount" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">250,000</ix:nonFraction></span>. The Company has not experienced losses
on this account, and management believes the Company is not exposed to significant risks on such account.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_840_eus-gaap--UseOfEstimates_zp5Usykf8uTd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_865_zMSzjGxpYE7d">Use
of Estimates</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
preparation of financial statements in conformity with GAAP requires the Company&#8217;s management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of expenses during the reporting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Making
estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect
of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered
in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual
results could differ significantly from those estimates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_84A_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zKpg7wdvB6m7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_861_zRyCfDS0bhEb">Recent
Accounting Pronouncements</span> </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In August 2020, the FASB issued
ASU 2020-06, &#8220;Debt &#8212; Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging &#8212; Contracts
in Entity&#8217;s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity&#8217;s Own Equity&#8221;
(&#8220;ASU 2020-06&#8221;), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that
require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope
exception guidance pertaining to equity classification of contracts in an entity&#8217;s own equity. The new standard also introduces
additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity&#8217;s own equity.
ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible
instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal
years, with early adoption permitted. The Company is currently evaluating the impact the pronouncement will have on the unaudited condensed
financial statements.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Management does not believe that
any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company&#8217;s unaudited condensed financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:RisksAndUncertaintiesPolicyTextBlock"><p id="xdx_840_ecustom--RisksAndUncertaintiesPolicyTextBlock_zmoBgSX66fkg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_864_zcWOWjSKabfk">Risks and Uncertainties</span></i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Management continues to evaluate the impact of the COVID-19 pandemic on the industry
and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company&#8217;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 unaudited
condensed financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the
outcome of these uncertainties.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In February 2022, a military
conflict started between Russia and Ukraine. The ongoing military conflict have provoked strong reactions from the United States, the
UK, the European Union and various other countries around the world, including the imposition of broad financial and economic sanctions
against Russia. Further, the precise effects of the ongoing military conflict and these sanctions on the global economies remain uncertain
as of the date of these unaudited condensed financial statements. The specific impact on the Company&#8217;s financial condition, results
of operations and cash flows is also not determinable as of the date of these unaudited condensed financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_239_z8cjaQWwyOXe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 12 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23E_zQk5RzQzvXW1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p></ix:exclude>

</ix:nonNumeric></ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:InitialPublicOfferingTextBlock"><p id="xdx_80D_ecustom--InitialPublicOfferingTextBlock_zgymjJSleNq1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
3 &#8212; <span id="xdx_82B_zttLAgsYSl1">INITIAL PUBLIC OFFERING</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">On
October 8, 2021, the Company consummated the Public Offering of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zIBW0ywwV2Gg" title="Stock Issued During Period, Shares, New Issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></span> Units, which includes the full exercise by the underwriter
of its option to purchase an additional <span id="xdx_90E_ecustom--AdditionalOptionPurchase_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zbSfvIts10P" title="Additional Option Purchase"><ix:nonFraction name="AVACU:AdditionalOptionPurchase" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,700,000</ix:nonFraction></span> Units, at a price of $<span id="xdx_90A_eus-gaap--SharePrice_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_pdd" title="Stock price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span> per unit (the &#8220;Units&#8221;). Each Unit consists
of one share of the Company&#8217;s Class&#160;A common stock, $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zqB4ovb6hSDe" title="Common stock par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span> par value and three-fourths of one redeemable warrant (&#8220;Public
Warrant&#8221;). Each whole Warrant offered in the Initial Public Offering is exercisable to purchase one share of Class&#160;A
common stock at $<span id="xdx_908_eus-gaap--SharePrice_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__custom--PublicWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Stock price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-06-30_custom_UnderwriterMember_custom_PublicWarrantMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">11.50</ix:nonFraction></span> per share, subject to adjustment (see Note 6).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Simultaneously
with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zLl883mC3EW5" title="Sale of stock, number of shares issued in transaction"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2022-01-012022-06-30_custom_SponsorMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">8,100,000</ix:nonFraction></span> Private Placement Warrants for
an aggregate purchase price of $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zfeZQqfTAof7" title="Sale of stock consideration received on transaction"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2022-01-012022-06-30_custom_SponsorMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,100,000</ix:nonFraction></span>. Each Private Placement Warrant is exercisable to purchase one share of Class&#160;A
common stock at a price of $<span id="xdx_902_ecustom--WarrantExercisePrice_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_pdd" title="Warrant exercise price"><ix:nonFraction name="AVACU:WarrantExercisePrice" contextRef="AsOf2022-06-30_custom_SponsorMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">11.50</ix:nonFraction></span> per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_801_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z0poubiiwq5i" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
4 &#8212; <span id="xdx_82F_zIj5IlLFSZrh">RELATED PARTY TRANSACTIONS</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Founder
Shares </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><span style="font: 10pt Times New Roman, Times, Serif">On
October 21, 2020, the Sponsor paid an aggregate of $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20201001__20201021__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AvalonAcquisitionHoldingsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_pp0p0" title="Stock Issued During Period, Value, New Issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2020-10-012020-10-21_custom_AvalonAcquisitionHoldingsMember_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,000</ix:nonFraction></span>,
or approximately $0.004 per share, to cover certain of the Company&#8217;s offering costs in consideration of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20201001__20201021__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AvalonAcquisitionHoldingsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_pdd" title="Stock Issued During Period, Shares, New Issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2020-10-012020-10-21_custom_AvalonAcquisitionHoldingsMember_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,750,000</ix:nonFraction></span>
shares of  Class&#160;B common stock, par value $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_pdd" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>.
On August 30, 2021, the Sponsor forfeited <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20210801__20210830__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" contextRef="From2021-08-012021-08-30_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,437,500</ix:nonFraction></span>
of these shares, for no consideration, such that there were <span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_c20210830__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_pdd" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-08-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,312,500</ix:nonFraction></span>
shares of Class B common stock outstanding. On October 5, 2021, the Company effected a stock dividend of 0.2 of a founder share for
each outstanding founder share, which resulted in the Sponsor holding an aggregate of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20211001__20211005__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AvalonAcquisitionHoldingsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_pp0p0" title="Stock Issued During Period, Value, New Issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2021-10-012021-10-05_custom_AvalonAcquisitionHoldingsMember_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,175,000</ix:nonFraction></span>
Founder Shares. The Founder Shares included an aggregate of up to <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20211001__20211005__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" contextRef="From2021-10-012021-10-05_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">675,000</ix:nonFraction></span>
shares subject to forfeiture to the extent that the underwriter&#8217;s over-allotment option was not exercised in full or in part,
so that the Sponsor would own, on an as-converted basis, 20% of the Company&#8217;s issued and outstanding shares after the Initial
Public Offering. As a result of the underwriter&#8217;s election to exercise fully its over-allotment option, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20211001__20211005__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zczwMGu6rQc7" title="Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" contextRef="From2021-10-012021-10-05_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">675,000</ix:nonFraction></span>
Founder Shares were no longer subject to forfeiture. All share and per-share amounts have been retroactively restated to reflect the
stock dividend. On October 5, 2021, the Sponsor transferred <span id="xdx_902_ecustom--NumberOfSharesTransferred_c20211005__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AvalonAcquisitionHoldingsMember_pdd" title="Number of shares transferred"><ix:nonFraction name="AVACU:NumberOfSharesTransferred" contextRef="AsOf2021-10-05_custom_AvalonAcquisitionHoldingsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">150,000</ix:nonFraction></span>
Founder Shares to its independent directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 20pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Sponsor has agreed, subject
to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of (A)&#160;one year after
the completion of a Business Combination or (B)&#160;subsequent to a Business Combination, (x)&#160;if the last reported sale price of
the Class&#160;A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150&#160;days after a Business Combination,
or (y)&#160;the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results
in all of the Company&#8217;s stockholders having the right to exchange their shares of common stock for cash, securities or other property.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Promissory
Note&#8212;Related Party </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">On
October 31, 2020, the Sponsor agreed to loan the Company an aggregate of up to $<span id="xdx_90F_ecustom--ExpensesRelatedToInitialPublicOffering_pp0p0_c20201001__20201031__us-gaap--LongtermDebtTypeAxis__custom--UnsecuredPromissoryNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zqeHLBdo4WP5" title="Expenses related to initial public offering"><ix:nonFraction name="AVACU:ExpensesRelatedToInitialPublicOffering" contextRef="From2020-10-012020-10-31_custom_UnsecuredPromissoryNoteMember_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">250,000</ix:nonFraction></span> to cover expenses related to the Initial
Public Offering pursuant to a promissory note (the &#8220;Promissory Note&#8221;). The Promissory Note was non-interest bearing
and payable, as amended, on the earlier of December 31, 2021 or the completion of the Initial Public Offering. On October 15,
2021, the Company repaid the balance in full to the Sponsor. Because the balance of the Promissory Note has been repaid, it is
no longer available to the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Administrative
Support Agreement </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Commencing
on the effective date of the Initial Public Offering, on October 5, 2021, the Company agreed to pay the Sponsor a total of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPayment_c20211001__20211005__us-gaap--TypeOfArrangementAxis__custom--AdministrativeSupportAgreementMember_pp0p0" title="Debt Instrument, Periodic Payment"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2021-10-012021-10-05_custom_AdministrativeSupportAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000</ix:nonFraction></span>
per month for office space, and administrative support services. Upon completion of an initial Business Combination or the
Company&#8217;s liquidation, the Company will cease paying these monthly fees. For the three months ended June 30, 2022, the Company
incurred $<span id="xdx_907_eus-gaap--ProceedsFromRepaymentsOfOtherDebt_pp0p0_c20220401__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zYOvlUDEnByc"><ix:nonFraction name="us-gaap:ProceedsFromRepaymentsOfOtherDebt" contextRef="From2022-04-012022-06-30_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">30,000</ix:nonFraction></span> of these fees which are included in general and administrative expenses &#8211; related party on the unaudited
condensed statements of operations. For the six months ended June 30, 2022, the Company incurred $<span id="xdx_909_eus-gaap--ProceedsFromRepaymentsOfOtherDebt_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_pp0p0" title="Proceeds from (Repayments of) Other Debt"><ix:nonFraction name="us-gaap:ProceedsFromRepaymentsOfOtherDebt" contextRef="From2022-01-012022-06-30_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">60,000</ix:nonFraction></span>
of these fees which are included in general and administrative expenses &#8211; related party on the unaudited condensed statements
of operations. Additionally, the Company prepaid $<span id="xdx_90A_eus-gaap--DebtInstrumentPeriodicPayment_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--AdministrativeSupportAgreementMember_pp0p0" title="Debt Instrument, Periodic Payment"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2022-01-012022-06-30_custom_AdministrativeSupportAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">60,000</ix:nonFraction></span>
of these fees which are included in prepaid expenses on the accompanying unaudited condensed balance sheet as of June 30,
2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_234_zyyW9tDTis9b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 13 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23E_ztio5MsvyE45" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Related
Party Loans </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">In
order to finance transaction costs in connection with a Business Combination, the Sponsor, or the Company&#8217;s officers and
directors may, but are not obligated to, loan the Company funds as may be required (&#8220;Working Capital Loans&#8221;). 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. 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. 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. The Working Capital Loans would either be repaid upon consummation
of a Business Combination, without interest, or, at the lender&#8217;s discretion, up to $<span id="xdx_908_ecustom--WorkingCapitalLoans_c20220630_pp0p0" title="Working Capital Loans"><ix:nonFraction name="AVACU:WorkingCapitalLoans" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,500,000</ix:nonFraction></span> of such Working Capital Loans
may be convertible into warrants at a price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20220630_pdd" title="Conversion Price"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction></span>&#160;per warrant at the option of the lender. The warrants would be identical
to the Private Placement Warrants. As of June 30, 2022 and December 31, 2021, there were no working capital loans outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CommitmentsDisclosureTextBlock"><p id="xdx_805_eus-gaap--CommitmentsDisclosureTextBlock_z2lfDM23p5ad" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
5 &#8212; <span id="xdx_820_zcfjeDCUZ5g8">COMMITMENTS AND CONTINGENCIES</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Registration
Rights </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
holders of the Founder Shares, Private Placement Warrants, warrants and representative shares that may be issued upon conversion
of Working Capital Loans (and any shares of Class&#160;A common stock issuable upon the exercise of the Private Placement Warrants
and warrants that may be issued upon conversion of Working Capital Loans) are entitled to registration rights pursuant to a registration
rights agreement signed on the effective date of Initial Public Offering. The holders of these securities will be entitled to
make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have
certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed subsequent to the completion
of a Business Combination. However, the registration rights agreement provides that the Company will not permit any registration
statement filed under the Securities Act to become effective until termination of the applicable lockup period. The Company will
bear the expenses incurred in connection with the filing of any such registration statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Underwriting
Agreement </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company granted the underwriter a 45-day option from the date of Initial Public Offering to purchase up to <span id="xdx_90E_ecustom--AdditionalOptionPurchase_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_z0Wu68yB5fD2" title="Additional Option Purchase"><ix:nonFraction name="AVACU:AdditionalOptionPurchase" contextRef="From2022-01-012022-06-30_custom_UnderwriterMember_us-gaap_CommonClassAMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,700,000</ix:nonFraction></span> additional
Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions.
At October 8, 2021, the underwriter exercised such option in full.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
underwriter was entitled to an underwriting discount of $0.125 per Unit, or $2,156,250 in the aggregate of the gross proceeds
of the Initial Public Offering. In addition, the underwriter is entitled to a deferred fee of $0.35 per Unit, or $6,037,500 in
the aggregate; provided that up to 0.875% of the gross proceeds or $1,509,375 in the aggregate may be paid to third parties not
participating in the offering (but who are members of the Financial Industry Regulatory Authority (&#8220;FINRA&#8221;) or regulated
broker-dealers) that assist the underwriter in consummating the initial Business Combination. The deferred fee will be waived
by the underwriter in the event that the Company does not complete a Business Combination, subject to the terms of the underwriting
agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23A_zQX81GRYA2b3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 14 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_231_z33RIRYoTxGi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Company issued to the underwriter <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zizeHraNtxsj"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-01-012021-12-31_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">155,250</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">non-redeemable shares of Class A common stock
upon closing of the Initial Public Offering, at a price of $<span id="xdx_903_eus-gaap--SharePrice_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zROb4UpyVMui"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2021-12-31_custom_UnderwriterMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(the &#8220;Representative Shares&#8221;). These
shares were fair valued at&#160;$<span id="xdx_902_ecustom--RepresentativeSharesIssued_c20220101__20220630_pp0p0"><ix:nonFraction name="AVACU:RepresentativeSharesIssued" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,120,507</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;at
the Initial Public Offering using Black-Scholes&#160;option pricing model utilizing Level 3 inputs.&#160;The holder of the Representative
Shares has agreed not to transfer, assign or sell any such shares without the Company&#8217;s prior consent until the completion of the
Company&#8217;s initial Business Combination. In addition, the holder of the Representative Shares has agreed (i) to waive its conversion
rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of the Company&#8217;s
initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust account with respect to such shares
if the Company fails to complete its initial Business Combination within the required time period. The Representative Shares have been
deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness
of the registration statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:WarrantsDisclosureTextBlock"><p id="xdx_80A_ecustom--WarrantsDisclosureTextBlock_zdZdhGfftMPf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
6 &#8211; <span id="xdx_820_zh3tkomOHSsh">WARRANTS </span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Public Warrants may only be exercised
for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The
Public Warrants will become exercisable on the later of (a)&#160;30&#160;days after the completion of a Business Combination or (b)&#160;12&#160;months
from the closing of the Initial Public Offering. The Public Warrants will expire five years after the completion of a Business Combination
or earlier upon redemption or liquidation. As of June 30, 2022 and December 31, 2021, <span id="xdx_905_eus-gaap--WarrantsAndRightsOutstanding_iI_pp0p0_c20220630__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z0GLn6JZ3wNf" title="Warrants"><span id="xdx_902_eus-gaap--WarrantsAndRightsOutstanding_iI_pp0p0_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z2wv91xXWlok"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2022-06-30_custom_PublicWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2021-12-31_custom_PublicWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15,525,000</ix:nonFraction></ix:nonFraction></span></span> Public Warrants and <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstanding_iI_pp0p0_c20220630__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivateWarrantsMember_z59cEWRo1M09" title="Warrants"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstanding_iI_pp0p0_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivateWarrantsMember_zEoSB2YH9FA7"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2022-06-30_custom_PrivateWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2021-12-31_custom_PrivateWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,100,000</ix:nonFraction></ix:nonFraction></span></span> Private
Warrants, respectively, were outstanding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Company will not be obligated
to deliver any shares of Class&#160;A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant
exercise unless a registration statement under the Securities Act with respect to the shares of Class&#160;A common stock underlying the
warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect
to registration, or a valid exemption from registration is available. No warrant will be exercisable and the Company will not be obligated
to issue shares of Class&#160;A common stock upon exercise of a warrant unless the share of Class&#160;A common stock issuable upon such
warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of the warrants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Company has agreed that as
soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, the Company will use its
commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares
of Class&#160;A common stock issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause
the same to become effective within 60 business days following the closing of the initial business combination and to maintain the effectiveness
of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance
with the provisions of the warrant agreement. If a registration statement covering the issuance of the shares of Class&#160;A common stock
issuable upon exercise of the warrants is not effective by the 60th business day after the closing of a Business Combination, warrant
holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to
maintain an effective registration statement, exercise warrants on a &#8220;cashless basis&#8221; in accordance with Section&#160;3(a)(9)
of the Securities Act or another exemption. In addition, if the Class&#160;A common stock are at the time of any exercise of a warrant
not listed on a national securities exchange such that they satisfy the definition of a &#8220;covered security&#8221; under Section&#160;18(b)(1)
of the Securities Act, the Company may, at its option, require holders of the Public Warrants who exercise their warrants to do so on
a &#8220;cashless basis&#8221; in accordance with Section&#160;3(a)(9) of the Securities Act and, in the event the Company elects to do
so, the Company will not be required to file or maintain in effect a registration statement, but it will use its best efforts to register
or qualify the shares under applicable blue sky laws to the extent an exemption is not available.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></p>

<ix:exclude><!-- Field: Page; Sequence: 15 -->
    <div id="xdx_23C_zs0G15Yk9LT7" style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></p></div>
    <div id="xdx_239_z4FpLl3FQlEd" style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23B_zZ9oKMvGk2Ue" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><i>Redemption of warrants when
the price per share of Class&#160;A common stock equals or exceeds $18.00. </i>Once the Public Warrants become exercisable, the Company
may redeem the Public Warrants (except with respect to the Private Placement Warrants):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in whole and not in part;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at a price of $0.01 per warrant;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon not less than 30&#160;days prior written notice of redemption to each warrant holder; and</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if, and only if, the reported last sale price of the shares of the Company&#8217;s Class&#160;A common stock for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders (the &#8220;Reference Value&#8221;) equals or exceeds $18.00 per share (as adjusted).</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If and when the warrants become redeemable by the
Company, the Company 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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><i>Redemption of warrants when
the price per share of Class&#160;A common stock equals or exceeds $10.00.</i>&#160;Once the Public Warrants become exercisable, the Company
may redeem the Public Warrants:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in whole and not in part;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&#160;A common stock;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted); and</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if the Reference Value is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">If and when the Public Warrants
become redeemable by the Company, the Company 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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">If the Company calls the Public
Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on
a &#8220;cashless basis,&#8221; as described in the warrant agreement. The exercise price and number of shares of Class&#160;A common
stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization,
reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuances of Class&#160;A
common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants.
If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in
the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution
from the Company&#8217;s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire
worthless.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></p>

<ix:exclude><!-- Field: Page; Sequence: 16 -->
    <div id="xdx_23A_zXSbCF84bdx3" style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></p></div>
    <div id="xdx_236_zag8Hhp6jiFg" style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23C_zk0qmFpQTWM3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In addition, if (x)&#160;the
Company issues additional shares of Class&#160;A common stock or equity-linked securities for capital raising purposes in connection with
the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class&#160;A common (with such
issue price or effective issue price to be determined in good faith by the Company&#8217;s board of directors 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 &#8220;Newly Issued Price&#8221;), (y)&#160;the aggregate gross proceeds from such issuances
represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the
date of the consummation of a Business Combination (net of redemptions), and (z)&#160;the volume weighted average trading price of the
Company&#8217;s Class&#160;A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company
consummates a Business Combination (such price, the &#8220;Market Value&#8221;) is below $9.20 per share, the exercise price of the Public
Warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the
$18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of
the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described above will be adjusted (to the
nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Private Placement Warrants
are identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Placement
Warrants and the Class&#160;A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable
or salable until the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement
Warrants will be exercisable on a cashless basis and be non-redeemable so long as they are held by the initial purchasers or their permitted
transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees,
the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="AVACU:ClassACommonStockSubjectToPossibleRedemptionDisclosureTextBlock"><p id="xdx_80A_ecustom--ClassACommonStockSubjectToPossibleRedemptionDisclosureTextBlock_znuOccKN5FGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
7 &#8211; <span id="xdx_82C_z5pBmylRQUWb">CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company&#8217;s Class A common stock sold during the Initial Public Offering features certain redemption rights that are considered
to be outside of the Company&#8217;s control and subject to the occurrence of future events. The Company is authorized to issue <span id="xdx_907_eus-gaap--CommonStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_z6KAVRaZATt2" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></span>
shares of Class A common stock with a par value of $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zSVchV8Qr7Mf" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>
per share. Holders of the Company&#8217;s Class A common stock are entitled to one vote for each share. As of June 30, 2022 and
December 31, 2021, there were <span id="xdx_909_eus-gaap--CommonUnitOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_z6qVPWc8Lh8e" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonUnitOutstanding" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></span>
shares of Class A common stock outstanding, of which <span id="xdx_90D_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20220630_zzhQs4j3yFi3" title="Common shares subject to possible redemption"><ix:nonFraction name="us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></span>
shares are subject to possible redemption and are classified outside of stockholders&#8217; deficit in the unaudited condensed
balance sheets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Class A common stock subject to possible redemption reflected on the unaudited condensed balance sheets is reconciled on the
following table:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfFairValueOffBalanceSheetRisksTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfFairValueOffBalanceSheetRisksTextBlock_zNA4d9tLA8ci" summary="xdx: Disclosure - CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td><span id="xdx_8B7_zbb7FrtjkOc4" style="display: none">Schedule of reconciled of balance sheet</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20220101__20220630_zNRhdbWURtKd" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_404_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 70%; text-align: left">Gross proceeds from Initial Public Offering</td><td style="width: 10%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">207,000,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Less:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40A_ecustom--FairValueOfPublicWarrantsAtIssuance_iN_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Fair value of Public Warrants at issuance</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="AVACU:FairValueOfPublicWarrantsAtIssuance" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">9,159,750</ix:nonFraction></td><td style="text-align: left">)</td></tr>
<tr id="xdx_40B_ecustom--OfferingCostsAllocatedToClassCommonStockSubjectToPossibleRedemption_iN_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Offering costs allocated to Class A common stock subject to possible redemption</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="AVACU:OfferingCostsAllocatedToClassCommonStockSubjectToPossibleRedemption" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">11,168,880</ix:nonFraction></td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Plus:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40C_ecustom--AccretionOnClassCommonStockSubjectToPossibleRedemptionAmount_i_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Accretion on Class A common stock subject to possible redemption amount</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="AVACU:AccretionOnClassCommonStockSubjectToPossibleRedemptionAmount" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">23,433,630</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_405_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Class A common stock subject to possible redemption</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:TemporaryEquityAccretionToRedemptionValueAdjustment" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">210,105,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table></ix:nonNumeric>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b></span></p>

<ix:exclude><p id="xdx_23E_zNrZGNYBj08l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b></b></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 17 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_230_zRPJOLQdn7li" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b></b></span>&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_808_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zyu0OLmLozqd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
8 &#8212; <span id="xdx_827_zQVZRlr9IkOc">STOCKHOLDERS&#8217; DEFICIT</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Preferred
Stock </i></b>&#8212; The Company was authorized to issue <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630_zrwpK42F4rF9" title="Preferred stock, authorized shares"><span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231_zb2rUU1Xrmrc" title="Preferred stock, authorized shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></ix:nonFraction></span></span> shares of preferred stock with a par value of $<span id="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630_zQjCsg2FodBg" title="Preferrd stock, par value"><span id="xdx_900_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231_zRVolBd7Ed6h" title="Preferrd stock, par value"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> per
share with such designations, voting and other rights and preferences as may be determined from time to time by the Company&#8217;s
board of directors. At June 30, 2022 and December 31, 2021, there were <span id="xdx_904_eus-gaap--PreferredStockSharesIssued_iI_do_c20220630_zBpgY2sZpBS4" title="Preferred Stock, Shares Issued"><span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_do_c20220630_zBaHyjqeHHgf" title="Preferred Stock, Shares Outstanding"><span id="xdx_90E_eus-gaap--PreferredStockSharesIssued_iI_do_c20211231_z5kt1AdZ3P9f" title="Preferred Stock, Shares Issued"><span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_do_c20211231_zpeTeqNH3XN3" title="Preferred Stock, Shares Outstanding"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">no</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> shares of preferred stock issued or outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Class&#160;A
Common Stock </i></b>&#8212; The Company was authorized to issue <span id="xdx_905_eus-gaap--CommonStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zGNUzRpnS9g6" title="Common stock, shares authorized"><span id="xdx_904_eus-gaap--CommonStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zaPsrGyfcEzk" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></ix:nonFraction></span></span> shares of Class&#160;A common stock with a par value
of $<span id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zYe46v8Jq9n4" title="Common stock, par value"><span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__custom--CommonStockClassAMember_zKJMJ8wLF9G1" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_custom_CommonStockClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> per share. Holders of Class&#160;A common stock are entitled to one vote for each share. At June 30, 2022 and December
31, 2021, there were <span id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHIWa5qiMRfi" title="Common stock, shares issued"><span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zguUcasiEs5g" title="Common Stock, Shares, Outstanding"><span id="xdx_90D_eus-gaap--CommonStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJ76wJGPoDLc" title="Common stock, shares issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbDW0J3GuVCj" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,855,250</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> shares of Class A common stock issued and outstanding, of which <span id="xdx_901_eus-gaap--SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares_iI_c20220630_zibLCLHTp0Vb" title="Redemption shares"><ix:nonFraction name="us-gaap:SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,700,000</ix:nonFraction></span> shares are subject
to redemption.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Class&#160;B
Common Stock</i></b> &#8212; The Company was authorized to issue <span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zjBPnl8TM6O5" title="Common stock, shares authorized"><span id="xdx_901_eus-gaap--CommonStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z2g33IbVGeih" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></ix:nonFraction></span></span> shares of Class&#160;B common stock with a par value
of $<span id="xdx_908_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zF42RdfBCR7k" title="Common stock, par value"><span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zrjehn1iQJ68" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></ix:nonFraction></span></span> per share. Holders of Class&#160;B common stock are entitled to one vote for each share. At June 30, 2022 and December
31, 2021, there were <span id="xdx_908_eus-gaap--CommonStockSharesIssued_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsolSiy1OWJ5" title="Common stock, shares issued"><span id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zoMoGFwxKyH" title="Common Stock, Shares, Outstanding"><span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zeBcJqpSh5Ol" title="Common stock, shares issued"><span id="xdx_905_eus-gaap--CommonStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsgBfMWgsL2e" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,175,000</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span></span> shares of Class&#160;B common stock issued and outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Holders
of Class&#160;B common stock will have the right to elect all of the Company&#8217;s directors prior to a Business Combination.
Holders of Class&#160;A common stock and Class&#160;B common stock will vote together as a single class on all other matters submitted
to a vote of stockholders except as required by law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
shares of Class&#160;B common stock will automatically convert into shares of Class&#160;A common stock on the first business
day following the completion of a Business Combination at a ratio such that the number of shares of Class&#160;A common stock
issuable upon conversion of all Founder shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i)&#160;the
total number of shares of the Company&#8217;s common stock issued and outstanding upon completion of Initial Public Offering,
plus (ii)&#160;the sum of (a)&#160;all shares of the Company&#8217;s common stock issued or deemed issued or issuable upon conversion
or exercise of any equity-linked securities or deemed issued by the Company in connection with or in relation to the completion
of a Business Combination, excluding (1)&#160;any shares of Class&#160;A common stock or equity-linked securities exercisable
for or convertible into shares of Class&#160;A common stock issued, or to be issued, to any seller in a Business Combination and
any (2)&#160;Private Placement Warrants issued to the Sponsor or any of its affiliates upon conversion of Working Capital Loans
minus (b)&#160;the number of Public Shares redeemed by public stockholders in connection with a Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_235_zWeUaqdjo3rg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 18 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23C_zaXWaek2mPbl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:FairValueMeasurementInputsDisclosureTextBlock"><p id="xdx_803_eus-gaap--FairValueMeasurementInputsDisclosureTextBlock_zadcu6auncGb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
9&#160;&#8211; <span id="xdx_821_zZ9cc8gSXDR">FAIR VALUE MEASUREMENTS</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value
at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
fair value of the Company&#8217;s financial assets and liabilities reflects management&#8217;s estimate of amounts that the Company
would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an
orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets
and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and
to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities).
The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable
inputs used in order to value the assets and liabilities:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level
1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market
in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on
an ongoing basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level
2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar
assets or liabilities and quoted prices for identical assets or liabilities in markets that are active.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level
3: Unobservable inputs based on the Company&#8217;s assessment of the assumptions that market participants would use in pricing
the asset or liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.5pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
following tables present information about the Company&#8217;s assets and liabilities that are measured at fair value on a recurring
basis as of June 30, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques that the Company
utilized to determine such fair value.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_897_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_zLxJO7J9MBBi" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left"><span id="xdx_8B2_z3suD3G6jFXj" style="display: none">Schedule of Fair value hierarchy of the valuation inputs the Company</span></td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20220630_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel1Member" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49B_20220630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zTld12O7FYkl" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49D_20220630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuJMSPgEtLy8" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measured as of June 30, 2022</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Description</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Quoted&#160;Prices in Active Markets <br /> (Level 1)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Significant Other Observable Inputs <br /> (Level 2)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Significant Other Unobservable Inputs<br /> (Level 3)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Assets:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--MarketableSecuritiesNoncurrent_iI_pp0p0_d0_zLEzeEjiRmo6" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; width: 46%; text-align: left">Investments held in Trust Account</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">210,413,963</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel2Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_404_ecustom--PrivatePlacementWarrants_iI_pp0p0_d0_zv7yyzElFQVf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Private Placement Warrants</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel1Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel2Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">733,050</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_409_ecustom--PublicWarrant_iI_pp0p0_d0_zuV9q3TnmGa7" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Public Warrants</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,405,013</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel2Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2022-06-30_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_236_zSVjCWvdvPug" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 19 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_234_z5759L0oJaA7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_492_20211231_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel1Member" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49A_20211231_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel2Member" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49B_20211231_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member" style="text-align: center">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measured as of December 31, 2021</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Description</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Quoted&#160;Prices in Active Markets <br /> (Level 1)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Significant Other Observable Inputs <br /> (Level 2)</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Significant Other Unobservable Inputs<br /> (Level 3)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Assets:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_eus-gaap--MarketableSecuritiesNoncurrent_iI_pp0p0_d0_zMXNQrXQCJC1" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; width: 46%; text-align: left">Investments held in Trust Account</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">210,109,087</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel2Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><ix:nonFraction name="us-gaap:MarketableSecuritiesNoncurrent" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_409_ecustom--PrivatePlacementWarrants_iI_pp0p0_d0_zl6OhaTfoaSj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Private Placement Warrants</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel1Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel2Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,159,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PrivatePlacementWarrants" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40F_ecustom--PublicWarrant_iI_pp0p0_d0_zuI9TSdgwzT9" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Public Warrants</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel1Member" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,054,750</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel2Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right"><ix:nonFraction name="AVACU:PublicWarrant" contextRef="AsOf2021-12-31_us-gaap_FairValueInputsLevel3Member" format="ixt:zerodash" decimals="0" scale="0" unitRef="USD">&#8212;</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
</table>


</ix:nonNumeric><p id="xdx_8AA_zTLrZUP1YiO7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">Transfers
to/from Levels 1, 2, and 3 are recognized at the end of each reporting period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Initial
Measurement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company established the initial fair value for the warrants on October 8, 2021, the date of the Company&#8217;s Initial Public
Offering, using a market-based approach for the Private Placement Warrants and the Public Warrants. The Company allocated the
proceeds received from (i)&#160;the sale of Units (which is inclusive of one share of Class&#160;A common stock and&#160;three-fourth&#160;of
one Public Warrant), (ii) the sale of Private Placement Warrants, and (iii)&#160;the issuance of Class&#160;B common stock, first
to the Warrants based on their fair values as determined at initial measurement, with the remaining proceeds allocated to Class&#160;A
common stock subject to possible redemption (temporary equity), Class&#160;A common stock (permanent equity) and Class&#160;B
common stock (permanent equity) based on their relative fair values at the initial measurement date. The Warrants were classified
as Level&#160;3 at the initial measurement date due to the use of unobservable inputs. On October 8, 2021, the Private Placement
Warrants and Public Warrants were determined to have aggregate values of $4.78 million and $9.16 million, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_233_zko2UnsVsr23" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 20 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23D_zasI2FdjLiPb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Subsequent
Measurement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif">The
Warrants are measured at fair value on a recurring basis. The subsequent measurement of the Public Warrants as of June 30, 2022
and December&#160;31, 2021 is classified as Level&#160;1 due to the use of an observable market quote in an active market under
the ticker AVACW. As the transfer of Private Placement Warrants to anyone outside of a small group of individuals who are permitted
transferees would result in the Private Placement Warrants having substantially the same terms as the Public Warrants, the Company
determined that the fair value of each Private Placement Warrant is equivalent to that of each Public Warrant, with an insignificant
adjustment for short-term marketability restrictions. As such, the Private Placement Warrants are classified as Level&#160;2.
As of June 30, 2022, the aggregate values of the Private Placement Warrants and Public Warrants were $<span id="xdx_900_ecustom--PlacementWarrants_iI_pn3n3_dm_c20220630_zP09F5n4q455" title="Placement Warrants"><ix:nonFraction name="AVACU:PlacementWarrants" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="-3" scale="6" unitRef="USD">1.4</ix:nonFraction></span> million and $<span id="xdx_907_ecustom--PublicWarrants_iI_pp0p0_c20220630_zIvJVPykzz69" title="Public Warrants"><ix:nonFraction name="AVACU:PublicWarrants" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">733,000</ix:nonFraction></span>,
respectively. As of December 31, 2021, the aggregate values of the Private Placement Warrants and Public Warrants were $<span id="xdx_90A_ecustom--PlacementWarrants_iI_pn3n3_dm_c20211231_zkvZWJUEYopj" title="Placement Warrants"><ix:nonFraction name="AVACU:PlacementWarrants" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-3" scale="6" unitRef="USD">3.16</ix:nonFraction></span> million
and $<span id="xdx_902_ecustom--PublicWarrants_iI_pn3n3_dm_c20211231_zNAWnwI6Mebe" title="Public Warrants"><ix:nonFraction name="AVACU:PublicWarrants" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-3" scale="6" unitRef="USD">6.05</ix:nonFraction></span> million, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_80C_eus-gaap--SubsequentEventsTextBlock_zoN6fNeJzNh2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
10 &#8212; <span id="xdx_823_z5fIQ7QmScDl">SUBSEQUENT EVENTS</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">The
Company evaluated subsequent events and transactions that occurred after the balance sheet date through July 29, 2022, the date
that the unaudited condensed financial statements were issued. The Company did not identify any subsequent events that would have
required adjustment or disclosure in the unaudited condensed financial statements.</span></p>

</ix:nonNumeric><p id="xdx_812_zjQETwRuDInc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 21 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_006"></span>Item
2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">References
in this quarterly report on Form 10-Q (the &#8220;Quarterly Report&#8221;) to &#8220;we,&#8221; &#8220;us&#8221; or the &#8220;Company&#8221;
refer to Avalon Acquisition Inc. References to our &#8220;management&#8221; or our &#8220;management team&#8221; refer to our
officers and directors, and references to the &#8220;Sponsor&#8221; refer to Avalon Acquisition Holdings LLC. The following discussion
and analysis of the Company&#8217;s financial condition and results of operations should be read in conjunction with the financial
statements and the notes thereto contained elsewhere in this Quarterly Report. Certain information contained in the discussion
and analysis set forth below includes forward-looking statements that involve risks and uncertainties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Special
Note Regarding Forward-Looking Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">This
Quarterly Report includes &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8217;) that are
not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected
and projected. All statements, other than statements of historical fact included in this Quarterly Report including, without limitation,
statements in this &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; regarding
the Company&#8217;s financial position, business strategy and the plans and objectives of management for future operations, are
forward-looking statements. Words such as &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221;
&#8220;estimate,&#8221; &#8220;seek&#8221; and variations and similar words and expressions are intended to identify such forward-looking
statements. Such forward-looking statements relate to future events or future performance, but reflect management&#8217;s current
beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ
materially from the events, performance and results discussed in the forward-looking statements. For information identifying important
factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please
refer to the Risk Factors section of this Quarterly Report and the Risk Factors section of our Form 10-K filed with the SEC on
March 30, 2022. The Company&#8217;s securities filings can be accessed on the EDGAR section of the SEC&#8217;s website at www.sec.gov.
Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information, future events or otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Overview</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
are a blank check company formed on October 12, 2020, under the laws of the State of Delaware. We were incorporated for the purpose
of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses or entities that we have not yet identified (the &#8220;Business Combination&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
of June 30, 2022, we have not yet commenced operations. All activity for the period from October 12, 2020 (inception) through
June 30, 2022, relates to our formation, our initial public offering (the &#8220;Initial Public Offering&#8221;), which is described
below, and our search for a prospective initial business combination. We do not expect to generate any operating revenues until
after the completion of our Business Combination, at the earliest. We generate non-operating income in the form of income from
the proceeds derived from the Initial Public Offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 22 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our
sponsor is Avalon Acquisition Holdings LLC, a Delaware limited liability company (the &#8220;Sponsor&#8221;). The registration
statement for our Initial Public Offering was declared effective by the SEC on October 5, 2021. On October 8, 2021, we consummated
our Initial Public Offering of 20,700,000 units (the &#8220;Units&#8221; and, with respect to the Class A common stock included
in the Units being offered, the &#8220;Public Shares&#8221;), at $10.00 per Unit, including 2,700,000 Units sold as part of the
exercise of the underwriter&#8217;s over-allotment option in full, generating gross proceeds of $207,000,000. We incurred $11,648,816
in transaction costs, including $3,708,007 of underwriting fees, $7,245,000 of deferred underwriting fees and $695,809 of other
costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Simultaneously
with the closing of the Initial Public Offering, we consummated the sale of 8,100,000 warrants (each, a &#8220;Private Placement
Warrant&#8221; and, collectively, the &#8220;Private Placement Warrants&#8221;) at a price of $1.00 per Private Placement Warrant
in a private placement to our Sponsor, generating gross proceeds of $8,100,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following the Initial Public Offering, the exercise
of the over-allotment option and the sale of the Private Placement Warrants, a total of $210,105,000 was placed in a trust account (&#8220;Trust
Account&#8221;), located in the United States with Continental Stock Transfer &amp; Trust Company acting as trustee, and is invested only
in an open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule&#160;2a-7
of the Investment Company Act, until the earlier of (i)&#160;the completion of a Business Combination or (ii)&#160;the distribution of
the funds in the Trust Account, as described below.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our
units, shares of Class A common stock, and public warrants are each traded on the Nasdaq Global Market under the symbols &#8220;AVACU,&#8221;
&#8220;AVAC,&#8221; and &#8220;AVACW,&#8221; respectively. Our units commenced public trading on October 6, 2021, and our shares
of Class A common stock and public warrants commenced separate public trading on December 3, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our management has broad discretion with respect to the specific application of the net proceeds of the Initial Public
Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied
generally toward consummating a Business Combination. There is no assurance that we will be able to complete a Business
Combination successfully.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">If
we do not complete a Business Combination within the Combination Period, we will (i) cease all operations except for
the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the
Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes (less up to $100,000
to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish
public stockholders&#8217; rights as stockholders (including the right to receive further liquidating distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
the Company&#8217;s remaining stockholders and the Company&#8217;s board of directors, dissolve and liquidate, subject in each
case to the Company&#8217;s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Liquidity
and Going Concern</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2022, we had $533,814 in our operating
bank account, $210,413,963 in securities held in the Trust Account, and working capital of $875,917 which excludes franchise and income
taxes payable as such amounts can be paid from income earned in the Trust Account. We intend to use the funds held in the Trust Account,
including any amounts representing income earned on the Trust Account (less taxes payable), to complete our Business Combination. To the
extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining
proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue our growth strategies.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2022, net cash used in operating activities was $502,879. Net income for the period of $6,875,103 was
impacted by income earned on investments held in Trust Account of $304,876 and change in fair value of derivative warrant
liabilities of $7,075,687. Net changes in operating assets and liabilities provided $2,581 of cash from operating
activities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2021, net cash used in operating activities was $1,947. Net loss for the period of $450 was impacted
by net changes in operating assets and liabilities of $1,497.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our liquidity needs prior to the consummation of our
Initial Public Offering were satisfied through the payment of $25,000 from the Sponsor to cover certain expenses on behalf of the Company
in exchange for the issuance of 5,175,000 of Class B common stock, par value $0.0001 per share (the &#8220;Founder Shares&#8221;), and
a $197,000 loan from our Sponsor, under an unsecured promissory note, which was repaid in full on October 15, 2021. Subsequent to the
consummation of the Initial Public Offering, the Company&#8217;s liquidity has been satisfied through the net proceeds of $1.82 million
from the consummation of the Initial Public Offering (including the Over-Allotment) and the Private Placement held outside of the Trust
Account. In addition, in order to finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of
our Sponsor, or certain of our officers and directors may, but are not obligated to, provide us the funds as may be required (&#8220;Working
Capital Loans&#8221;). As of June 30, 2022, there were no amounts outstanding under any Working Capital Loans.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 23 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the foregoing, our management believes that
we will have sufficient working capital and borrowing capacity to meet our needs through the earlier of the consummation of a Business
Combination or one year from this filing. Over this time period, we will be using the funds held outside of the Trust Account for paying
existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on
prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring,
negotiating and consummating the Business Combination.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Company&#8217;s assessment
of going concern considerations in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Update
(&#8220;ASU&#8221;)&#160;2014-15,&#160;&#8220;Disclosures of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern,&#8221;
management has determined that the mandatory liquidation and subsequent dissolution raises substantial doubt about the Company&#8217;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 January 8, 2023. The financial statements do not include any adjustment that might be necessary if the
Company is unable to continue as a going concern. Management plans to complete a business combination prior to the mandatory liquidation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Results
of Operations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our
entire activity from October 12, 2020 (inception) through October 7, 2021 was in preparation for an Initial Public Offering, and
since our Initial Public Offering, our activity has been limited to the search for a prospective initial Business Combination.
We will not generate any operating revenues until the closing and completion of our initial Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the three months ended June 30, 2022, we had a net income of $3,223,749, which consisted of operating costs of $193,043 and franchise
tax expense of $162,614, offset by income earned on investments held in the Trust Account of $283,719 and change in fair value
of derivative warrant liabilities of $3,295,687.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">For the three months ended June 30, 2021, we had no net income.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2022, we had a net income of $6,875,103, which consisted of operating costs of $292,796 and franchise
tax expense of $212,664, offset by income earned on investments held in the Trust Account of $304,876 and change in fair value
of derivative warrant liabilities of $7,075,687.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2021, we had a net loss $450, which consisted of formation costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Contractual
Obligations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Registration
and Stockholder Rights</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans
(and any Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon
conversion of Working Capital Loans) are entitled to registration rights pursuant to a registration rights agreement. The holders
of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed
subsequent to the completion of the initial Business Combination. We will bear the expenses incurred in connection with the filing
of any such registration statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Underwriting
Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The underwriter was paid
an underwriting discount of $0.125 per unit, or $2,587,500 in the aggregate, upon the closing of our Initial Public Offering. In addition,
$0.35 per unit, or $7,245,000 in the aggregate, will be payable to the underwriter for deferred underwriting commissions from the amounts
held in the Trust Account solely in the event that that we complete a Business Combination, subject to the terms of the underwriting agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">We granted the underwriter
a 45-day&#160;option from the date of our Initial Public Offering to purchase up to 2,700,000 additional Units at the Initial Public Offering
price less the underwriting discounts and commissions. The underwriter exercised the over-allotment option in full on October 8, 2021,
generating gross proceeds of $27 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Administrative
Support Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not have any long-term debt, capital lease obligations,
operating lease obligations or long-term liabilities, other than an agreement to pay the Sponsor a monthly fee of $10,000 for office space,
administrative and support services to the Company. We began incurring these fees on October 8, 2021 and will continue to incur these
fees monthly until the earlier of the completion of the Business Combination and our liquidation. For the three and six months ended June
30, 2022, we incurred $30,000 and $60,000, respectively, for these services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 24 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Critical
Accounting Policies and Estimates</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">This
management&#8217;s discussion and analysis of our financial condition and results of operations is based on our unaudited condensed
financial statements, which have been prepared in accordance with GAAP. The preparation of these unaudited condensed financial
statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses
and the disclosure of contingent assets and liabilities in our financial statements. On an ongoing basis, we evaluate our estimates
and judgments, including those related to fair value of financial instruments and accrued expenses. We base our estimates on historical
experience, known trends and events and various other factors that we believe to be reasonable under the circumstances, the results
of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. Actual results may differ from these estimates under different assumptions or conditions. There have been
no significant changes in our critical accounting policies as discussed in the Form&#160;</span><span style="font: 10pt Times New Roman, Times, Serif">10-K<span style="background-color: white">&#160;filed
by us with the SEC on March 30, 2022.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recent
Accounting Standards</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2020, the FASB issued ASU No. 2020-06,
&#8220;Debt &#8211; Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging &#8211; Contracts in
Entity&#8217;s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity&#8217;s Own
Equity&#8221; (&#8220;ASU 2020-06&#8221;), which simplifies accounting for convertible instruments by removing major separation
models required under current GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to
qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU
2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with
early adoption permitted. We are currently evaluating the impact on our unaudited condensed financial statements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Management
does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have
a material effect on our unaudited condensed financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Off-Balance
Sheet Arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 25 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>JOBS
Act</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Jumpstart Our Business Startups Act of 2012 (the&#160;&#8220;JOBS Act&#8221;) contains provisions that, among other things, relax
certain reporting requirements for qualifying public companies. We qualify as an &#8220;emerging growth company&#8221; and under
the&#160;JOBS Act&#160;are allowed to comply with new or revised accounting pronouncements based on the effective date for private
(not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result,
we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required
for non-emerging growth companies. As such, our financial statements may not be comparable to companies that comply with public
company effective dates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Additionally,
we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act.
Subject to certain conditions set forth in the JOBS Act, if, as an &#8220;emerging growth company,&#8221; we choose to rely on
such exemptions we may not be required to, among other things, (i) provide an auditor&#8217;s attestation report on our system
of internal controls over financial reporting pursuant to Section 404 of the JOBS Act, (ii) provide all of the compensation disclosure
that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act,
(iii) comply with any requirement that may be adopted by the Public Company Accounting and Oversight Board regarding mandatory
audit firm rotation or a supplement to the auditor&#8217;s report providing additional information about the audit and the financial
statements (auditor discussion and analysis) and (iv) disclose certain executive compensation related items such as the correlation
between executive compensation and performance and comparisons of our Chief Executive Officer&#8217;s compensation to median employee
compensation. These exemptions will apply for a period of five years following the completion of our Initial Public Offering or
until we are no longer an &#8220;emerging growth company,&#8221; whichever is earlier.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_007"></span>Item
3. Quantitative and Qualitative Disclosures About Market Risk</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">We
are a smaller reporting company as defined by Rule&#160;12b-2&#160;of the Exchange Act and are not required to provide the information
otherwise required under this item. As of June 30, 2022, we were not subject to any market or interest rate risk. The net proceeds
of the Initial Public Offering (including the Over-Allotment), including amounts in the Trust Account, are invested in a money
market fund that meet certain conditions under Rule&#160;2a-7&#160;under the Investment Company Act that invest only in direct
U.S. government treasury obligations. Due to the short-term nature of these investments, we believe there will be no associated
material exposure to interest rate risk.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">We
have not engaged in any hedging activities since our inception, and we do not expect to engage in any hedging activities with
respect to the market risk to which we are exposed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_008"></span>Item
4. Controls and Procedures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Evaluation
of Disclosure Controls and Procedures</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Disclosure
controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is
recorded, processed, summarized, and reported within the time periods specified in the SEC&#8217;s rules and forms, and that such
information is accumulated and communicated to our management, including our principal executive officer and principal financial
officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the supervision and with the participation of
our management, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal
quarter ended June 30, 2022, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation,
our Certifying Officers concluded that our disclosure controls and procedures were effective as of June 30, 2022.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Changes
in Internal Control over Financial Reporting</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">There
was no change in our internal control over financial reporting that occurred during the fiscal quarter ended June 30, 2022 covered
by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal
control over financial reporting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 26 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_009"></span>PART
II - OTHER INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_010"></span>Item
1. Legal Proceedings.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_011"></span>Item
1A. Risk Factors.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">You
should consider the risks and uncertainties described under Item&#160;1A of Part&#160;I of our Annual Report on Form 10-K for
the fiscal year ended&#160;December&#160;31, 2021, which we filed with the Securities and Exchange Commission (the SEC&#8221;)
on&#160;March 30, 2022, together with all other information contained or incorporated by reference in this Quarterly Report on
Form 10-Q, including the risk factor described below, when evaluating our business and our prospects.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Other
than as set forth below,&#160;there are no material changes to the risk factors set forth in Part&#160;I, Item&#160;1A, in our
Annual Report on Form&#160;10-K for the year ended&#160;December&#160;31, 2021. Additional risk factors not presently known to
us or that we currently deem immaterial may also impair our business or results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Our
search for a Business Combination, and any target business with which we may ultimately consummate a Business Combination, may
be materially adversely affected by the geopolitical conditions resulting from the recent invasion of Ukraine by Russia and subsequent
sanctions against Russia, Belarus and related individuals and entities and the status of debt and equity markets, as well as protectionist
legislation in our target markets.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">United
States and global markets are experiencing volatility and disruption following the escalation of geopolitical tensions and the
recent invasion of Ukraine&#160;by Russia in February 2022. In response to such invasion, the North Atlantic Treaty Organization
(&#8220;NATO&#8221;) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European
Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals
and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication
(SWIFT) payment system. Certain countries, including the United States, have also provided and may continue to provide military
aid or other assistance to Ukraine during the ongoing military conflict, increasing geopolitical tensions with Russia. The invasion
of Ukraine by Russia and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States,
the United Kingdom, the European Union and other countries have created global security concerns that could have a lasting impact
on regional and global economies. Although the length and impact of the ongoing military conflict in Ukraine is highly unpredictable,
the conflict could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets,
as well as supply chain interruptions. Additionally, Russian military actions and the resulting sanctions could adversely affect
the global economy and financial markets and lead to instability and lack of liquidity in capital markets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Any
of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions
resulting from the Russian invasion of&#160;Ukraine and subsequent sanctions, could adversely affect our search for a Business
Combination and any target business with which we may ultimately consummate a Business Combination. The extent and duration of
the Russian invasion of Ukraine, resulting sanctions and any related market disruptions are impossible to predict, but could be
substantial, particularly if current or new sanctions continue for an extended period of time or if geopolitical tensions result
in expanded military operations on a global scale. Any such disruptions may also have the effect of heightening many of the other
risks described in the &#8220;Risk Factors&#8221; section of our Annual Report on Form 10-K. If these disruptions or other matters
of global concern continue for an extensive period of time, our ability to consummate a Business Combination, or the operations
of a target business with which we&#160;may&#160;ultimately consummate a Business Combination, may be materially adversely affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 27 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Changes
in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our
ability to negotiate and complete a business combination and results of operations.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to
comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may
be difficult, time-consuming and costly. Those laws and regulations and their interpretation and application may also change from
time to time and those changes could have a material adverse effect on our business, investments, and results of operations. In
addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect
on our business, including our ability to negotiate and complete a Business Combination and results of operations of target business
with which we may ultimately consummate a Business Combination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
March 30, 2022, the SEC issued proposed rules (the &#8220;2022 Proposed Rules&#8221;) relating to, among other items, enhancing
disclosures in business combination transactions involving special purpose acquisition companies (&#8220;SPACs&#8221;) and private
operating companies; amending the financial statement requirements applicable to transactions involving shell companies; effectively
limiting the use of projections in SEC filings in connection with proposed business combination transactions; increasing the potential
liability of certain participants in proposed business combination transactions; and the extent to which SPACs could become subject
to regulation under the&#160;Investment Company Act. These rules, if adopted, whether in the form proposed or in revised form,
and certain interpretations expressed by the SEC in connection therewith, may materially adversely affect our ability to negotiate
and complete our initial business combination and may increase the costs and time related thereto.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_012"></span>Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_013"></span>Item
3. Defaults Upon Senior Securities.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_014"></span>Item
4. Mine Safety Disclosures.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_015"></span>Item
5. Other Information.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">None.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_016"></span>Item
6. Exhibits.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>No.</b></span></td>
<td style="border-bottom: white 1pt solid; padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Description of Exhibit</b></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">31.1*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><a href="e3890_ex31-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">31.2*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><a href="e3890_ex31-2.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">32.1**</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><a href="e3890_ex32-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">32.2**</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><a href="e3890_ex32-2.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></a></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.INS*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Instance Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.SCH*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Taxonomy Extension Schema Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.CAL*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Taxonomy Extension Calculation Linkbase Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.DEF*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Taxonomy Extension Definition Linkbase Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.LAB*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Taxonomy Extension Labels Linkbase Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.PRE*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Inline XBRL Taxonomy Extension Presentation Linkbase Document.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">104*</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Cover Page Interactive Data File. </span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; white-space: nowrap; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">*</span></td>
<td colspan="2" style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Filed herewith.</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; white-space: nowrap; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">**</span></td>
<td colspan="2" style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Furnished herewith.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Page; Sequence: 28 -->
    <div style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p style="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></p></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_017"></span>PART
III &#8211; SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to the requirements of the Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="2" style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVALON ACQUISITION INC.</b></span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; width: 50%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; width: 7%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; width: 43%; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Date: July 29, 2022</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">By:</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">/s/ S. Craig Cognetti</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Name:</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">S. Craig Cognetti</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Title:</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">(Principal Executive Officer) </span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-align: justify; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Date: July 29, 2022</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">By:</span></td>
<td style="border-bottom: black 1pt solid; padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">/s/ R. Rachel Hsu</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Name:</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">R. Rachel Hsu</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Title:</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</span></td></tr>
<tr style="vertical-align: top">
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">(Principal Accounting Officer and Financial Officer)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<!-- Field: Rule-Page --><div style="text-align: left; margin-top: 3pt; margin-bottom: 3pt"><div style="border-top: Black 2pt solid; font-size: 1pt; width: 100%">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>
































<p style="margin: 0"></p>

</body>
</html>
<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- 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 -->
[{"type": "10-Q", "sequence": "1", "filename": "e3890_10-q.htm", "description": "FORM 10-Q", "secsgml_size_bytes": 563230}]
{"company-data": {"conformed-name": "Avalon Acquisition Inc.", "cik": "0001836478", "assigned-sic": "6770", "irs-number": "853451075", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "001-40872", "film-number": "221120690"}, "business-address": {"street1": "2 EMBARCADERO CENTER,", "street2": "FLOOR 8", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111", "phone": "415-423-0010"}, "mail-address": {"street1": "2 EMBARCADERO CENTER,", "street2": "FLOOR 8", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111"}}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-Q
(MARK
ONE)
☒
QUARTERLY
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the quarterly period ended
June 30, 2022
☐
TRANSITION
    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the transition period from to
Commission
file number:
001-40872
AVALON ACQUISITION INC.
(Exact name of registrant as specified in its charter)
Delaware
85-3451075
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
2 Embarcadero Center
,
8th Floor
San Francisco
,
CA
94111
(Address
of principal executive offices)
(415)
423-0010
(Registrant's
telephone number, including area code)
Not
applicable.
(Former
name, former address and former fiscal year, if changed since last report)
Securities
registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Units, each consisting of one share of Class A common stock, par value $0.0001 per share and three-fourths of one redeemable warrant
AVACU
The
Nasdaq
Stock Market LLC
Class A Common Stock, par value $0.0001 per share
AVAC
The
Nasdaq
Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per whole share
AVACW
The
Nasdaq
Stock Market LLC
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act
during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes
☒ No ☐
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files).
Yes
☒ No ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
☒ No ☐
As
of July 29, 2022, there were
20,855,250
shares of Class A common stock, par value $0.0001 per share, and
5,175,000
shares of Class
B common stock, par value $0.0001 per share, issued and outstanding.
AVALON
ACQUISITION IN INC.
FORM
10-Q FOR THE QUARTER ENDED JUNE 30, 2022
TABLE
OF CONTENTS
Page
Part
I. Financial Information
1
Item 1. Condensed Financial
Statements
Condensed
Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021
1
Unaudited
Condensed Statements of Operations for Three and the Six Months Ended June 30, 2022 and June 30, 2021
2
Unaudited
Condensed Statements of Changes in Stockholders' Equity/(Deficit) for the Three and Six Months Ended June 30, 2022 and June 30,
2021
3
Unaudited
Condensed Statements of Cash Flows for the Six Months Ended June 30, 2022 and June 30, 2021
4
Notes
to Condensed Financial Statements (Unaudited)
5
Item
2. Management's Discussion and Analysis of Financial Condition and Results of Operations
20
Item
3. Quantitative and Qualitative Disclosures About Market Risk
24
Item
4. Controls and Procedures
24
Part
II. Other Information
25
Item
1. Legal Proceedings
25
Item
1A. Risk Factors
25
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
26
Item
3. Defaults Upon Senior Securities
26
Item
4. Mine Safety Disclosures
26
Item
5. Other Information
26
Item
6. Exhibits
26
Part
III. Signatures
27
PART
I - FINANCIAL INFORMATION
Item 1.
Condensed Financial Statements.
AVALON
ACQUISITION INC.
CONDENSED
BALANCE SHEETS
June 30, 2022 (unaudited)
December 31, 2021
ASSETS
Current assets:
Cash
$
533,814
$
1,036,693
Prepaid expenses
449,458
522,874
Total current assets
983,272
1,559,567
Investments held in trust account
210,413,963
210,109,087
Total Assets
$
211,397,235
$
211,668,654
Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders' Deficit
Current liabilities:
Accounts payable
$
107,355
$
136,502
Franchise tax payable
81,650
123,338
Total current liabilities
189,005
259,840
Derivative warrant liabilities
2,138,063
9,213,750
Deferred underwriting compensation
7,245,000
7,245,000
Total liabilities
9,572,068
16,718,590
Commitments and contingencies
Class A common stock, par value $
0.0001
per share,
100,000,000
shares authorized;
20,700,000
shares subject to possible redemption at $
10.15
per share
210,105,000
210,105,000
Stockholders' Deficit
Preferred stock, $
0.0001
par value;
1,000,000
shares authorized;
none
issued and outstanding
—
—
Class A common stock, $
0.0001
par value;
100,000,000
shares authorized;
155,250
non-redeemable shares issued and outstanding (excluding 20,700,000 common shares subject to possible redemption)
15
15
Class B common stock, $
0.0001
par value;
10,000,000
shares authorized;
5,175,000
shares issued and outstanding
518
518
Additional paid-in capital
—
—
Accumulated deficit
(
8,280,366
)
(
15,155,469
)
Total stockholders' deficit
(
8,279,833
)
(
15,154,936
)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders'
    Deficit
$
211,397,235
$
211,668,654
The
accompanying notes are an integral part of these unaudited condensed financial statements.
1
AVALON
ACQUISITION INC.
UNAUDITED
CONDENSED STATEMENTS OF OPERATIONS
For
the Three Months Ended June 30, 2022
For
the Three Months Ended June 30, 2021
For
the Six Months Ended June 30, 2022
For
the Six Months Ended June 30, 2021
General
and administrative expenses
$
163,043
$
—
$
232,796
$
450
General
and administrative expenses – related party
30,000
—
60,000
—
Franchise
tax expense
162,614
—
212,664
—
Total
operating expenses
(
355,657
)
—
(
505,460
)
(
450
)
Income
earned on investments held in Trust Account
283,719
—
304,876
—
Change
in fair value of derivative warrant liabilities
3,295,687
—
7,075,687
—
Net
Income/(Loss)
$
3,223,749
$
—
$
6,875,103
$
(
450
)
Weighted
average common shares outstanding, basic and diluted
Class
A
20,855,250
—
20,855,250
—
Class
B
5,175,000
4,500,000
5,175,000
4,500,000
Basic
and diluted net income/(loss) per common share
Class
A
$
0.12
$
—
$
0.26
$
—
Class
B
$
0.12
$
—
$
0.26
$
(
0.00
)
The
accompanying notes are an integral part of these unaudited condensed financial statements.
2
AVALON
ACQUISITION INC.
UNAUDITED
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY/(DEFICIT)
For the Three Months Ended June 30, 2022
Common Stock
Class A
Class B
Additional Paid-in
Accumulated
Total Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Deficit
Balance at March 31, 2022 (unaudited)
155,250
$
15
5,175,000
$
518
$
—
$
(
11,504,115
)
$
(
11,503,582
)
Net income
—
—
—
—
—
3,223,749
3,223,749
Balance at June 30, 2022 (unaudited)
155,250
$
15
5,175,000
$
518
$
—
$
(
8,280,366
)
$
(
8,279,833
)
For the Three Months Ended June 30, 2021
Common Stock
Class A
Class B
Additional Paid-in
Accumulated
Total Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Equity
Balance at March 31, 2021 (unaudited)
—
$
—
5,175,000
$
518
$
24,482
$
(
1,947
)
$
23,053
Net income
—
—
—
—
—
—
—
Balance at June 30, 2021 (unaudited)
—
$
—
5,175,000
$
518
$
24,482
$
(
1,947
)
$
23,053
For the Six Months Ended June 30, 2022
Common Stock
Class A
Class B
Additional Paid-in
Accumulated
Total Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Deficit
Balance at December 31, 2021
155,250
$
15
5,175,000
$
518
$
—
$
(
15,155,469
)
$
(
15,154,936
)
Net income
—
—
—
—
—
6,875,103
6,875,103
Balance at June 30, 2022 (unaudited)
155,250
$
15
5,175,000
$
518
$
—
$
(
8,280,366
)
$
(
8,279,833
)
For the Six Months Ended June 30, 2021
Common Stock
Class A
Class B
Additional Paid-in
Accumulated
Total Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Equity
Balance at December 31, 2020
—
$
—
5,175,000
$
518
$
24,482
$
(
1,497
)
$
23,503
Net loss
—
—
—
—
—
(
450
)
(
450
)
Balance at June 30, 2021 (unaudited)
—
$
—
5,175,000
$
518
$
24,482
$
(
1,947
)
$
23,053
The
accompanying notes are an integral part of these unaudited condensed financial statements.
3
AVALON
ACQUISITION INC.
UNAUDITED
CONDENSED
STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30, 2022
For the Six Months Ended June 30, 2021
Cash flows from operating activities:
Net income/(loss)
$
6,875,103
$
(
450
)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Income earned on investments held in Trust Account
(
304,876
)
—
Change in fair value of derivative warrant liabilities
(
7,075,687
)
—
Changes in operating assets and liabilities:
Prepaid expenses
73,416
—
Accounts payable
(
29,147
)
(
1,497
)
Franchise tax payable
(
41,688
)
—
Net cash used in operating activities
(
502,879
)
(
1,947
)
Cash flows from Financing Activities
Payment of offering costs
—
(
198,899
)
Proceeds from note payable to related party
—
190,000
Net cash used in financing activities
—
(
8,899
)
Net Change in Cash
(
502,879
)
(
10,846
)
Cash—Beginning of period
1,036,693
12,500
Cash—Ending of period
$
533,814
$
1,654
Supplemental Disclosures of Non-Cash investing and financing activities:
Deferred offering costs included in accrued offering costs
$
—
$
171,324
The
accompanying notes are an integral part of these unaudited condensed financial statements.
4
AVALON
ACQUISITION INC.
NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
JUNE
30, 2022
NOTE
1 —
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Avalon
Acquisition Inc. (the "Company") was incorporated in Delaware on October 12, 2020. 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 has initiated discussions with potential business
combination targets, though it has not selected any business combination target.
Although
the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination,
the Company intends to focus on businesses that are in the financial services and financial technologies industries. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage
and emerging growth companies.
As
of June 30, 2022, the Company had not commenced any operations. All activity for the period from October 12, 2020 (inception)
through June 30, 2022 relates to the Company's formation, the initial public offering ("Initial Public Offering"),
which is described below, and identifying a target company for a Business Combination. The Company will not generate any operating
revenues until after the completion of its initial Business Combination, at the earliest. The Company currently generates non-operating income
in the form of income from the proceeds derived from the Initial Public Offering.
The
registration statement for the Company's Initial Public Offering was declared effective on October 5, 2021. On October 8,
2021, the Company consummated the Initial Public Offering of
20,700,000
units (the "Units" and, with respect to the
shares of Class A common stock included in the Units sold, the "Public Shares"), which includes the full exercise
by the underwriter of the over-allotment option to purchase an additional
2,700,000
Units, at $
10.00
per Unit, generating gross
proceeds of $
207,000,000
, which is described in Note 3.
Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of
8,100,000
warrants (each, a "Private
Placement Warrant" and, collectively, the "Private Placement Warrants") at a price of $
1.00
per Private Placement
Warrant in a private placement to Avalon Acquisition Holdings, LLC (the "Sponsor"), generating gross proceeds of $
8,100,000
,
which is described in Note 3.
Following
the closing of the Initial Public Offering on October 8, 2021, an amount of $
210,105,000
($10.15 per Unit) from the net proceeds of the sale of the units in the Initial Public Offering and the sale of the Private
Placement Warrants was placed in a trust account (the "Trust Account") located in the United States and invested only in
an open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of
Rule 2a-7 of the Investment Company Act of 1940, as amended (the "Investment Company Act"), as determined by the
Company, until the earlier of (i) the completion of a Business Combination or (ii) the distribution of the funds in the
Trust Account, as described below.
The Company's management
has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private
Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business
Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company's
initial Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of
the balance in the Trust Account (as defined below) (excluding taxes payable on interest income earned from the Trust Account and the
deferred underwriting commissions) at the time of the agreement to enter into the initial Business Combination. The Company will only
complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act. There is no assurance that the Company will be able to complete a Business Combination successfully.
5
The
Company will provide its holders of the outstanding Public Shares (the "Public Stockholders") with the opportunity
to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection
with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as
to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the
Company, solely in its discretion. The Public Stockholders will be entitled to redeem their Public Shares for a pro rata portion
of the amount then in the Trust Account (initially anticipated to be $10.15 per Public Share, plus any pro rata interest earned
on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount
to be distributed to Public Stockholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions
the Company will pay to the underwriter (as discussed in Note 5). There will be no redemption rights upon the completion
of a Business Combination with respect to the Company's warrants. The Public Shares subject to redemption are recorded at
redemption value and classified as temporary equity in accordance with the Accounting Standards Codification ("ASC")
Topic 480, "Distinguishing Liabilities from Equity."
The
Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation
of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of
the Business Combination. If a stockholder vote is not required by law or stock exchange requirements and the Company does not
decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated
Certificate of Incorporation (the "Amended and Restated Certificate of Incorporation"), conduct the redemptions pursuant
to the tender offer rules of the U.S. Securities and Exchange Commission ("SEC") and file tender offer documents with
the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or
the Company decides to obtain stockholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction
with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder
approval in connection with a Business Combination, the Company's Sponsor has agreed to vote their Founder Shares (as defined
in Note 4) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination.
Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against
the proposed transaction.
Notwithstanding
the above, if the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to
the tender offer rules, the Amended and Restated Certificate of Incorporation provides that a public stockholder, together with
any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a "group"
(as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")), will be
restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior
consent of the Company.
The
Company's Sponsor has agreed (i) to waive its redemption rights with respect to its Founder Shares and Public Shares
held by it in connection with the completion of a Business Combination and (ii) not to propose an amendment to the Company's
Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company's obligation
to redeem 100% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the public
stockholders with the opportunity to redeem their shares in conjunction with any such amendment.
The
Company will have until January 8, 2023 to consummate a Business Combination or until July 8, 2023 if the Company extends the
period of time to consummate an initial Business Combination by the full amount of time (the "Combination Period").
If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all
operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days
thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay taxes (less up to $100,000 to pay dissolution expenses), divided by the number of then outstanding Public Shares, which
redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further
liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such
redemption, subject to the approval of the Company's remaining stockholders and the Company's board of directors,
dissolve and liquidate, subject in each case to the Company's obligations under Delaware law to provide for claims of creditors
and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to
the Company's warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination
Period.
6
The
Sponsor has agreed to waive its right to liquidating distributions from the Trust Account with respect to the Founder Shares if
the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor acquires Public Shares
in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account
if the Company fails to complete a Business Combination within the Combination Period. The underwriter has agreed to waive their
rights to their deferred underwriting commission (see Note 5) held in the Trust Account in the event the Company does not
complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other
funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution,
it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public
Offering price per Unit ($10.00).
In order to protect the amounts
held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services
rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction
agreement, reduce the amount of funds in the Trust Account to below (i) $10.15 per Public Share or (ii) such lesser amount per
Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust
assets, in each case net of the interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a
waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company's indemnity of the
underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended
(the "Securities Act"). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party,
the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility
that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers
(other than the Company's independent registered public accounting firm), prospective target businesses or other entities with which
the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies
held in the Trust Account.
Liquidity
and Going Concern
As
of June 30, 2022, the Company had $
533,814
in its operating bank account, $
210,413,963
in securities held in the Trust Account
to be used for a Business Combination or to repurchase or redeem its common stock in connection therewith, and working capital
of $
875,917
which excludes franchise and income taxes payable as such amounts can be paid from income earned in the Trust Account.
Until
the consummation of a Business Combination, the Company will be using the funds not held in the Trust Account for identifying
and evaluating prospective acquisition candidates, performing due diligence on prospective target businesses, paying for travel
expenditures, selecting the target business to acquire, and structuring, negotiating and consummating the Business Combination.
Prior
to the consummation of its Initial Public Offering, the Company's liquidity needs were satisfied through the payment of
$
25,000
from the Sponsor to cover certain expenses on behalf of the Company in consideration of Founder Shares (as defined
in Note 4), and a loan from the Sponsor of $
197,000
under the Note (as defined in Note 4) which was repaid in full on
October 15, 2021. Following the consummation of the Initial Public Offering, the Company's liquidity has been satisfied
through the net proceeds of $
1.82
million from the consummation of the Initial Public Offering (including the Over-Allotment)
and the Private Placement held outside of the Trust Account. 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, provide the Company Working Capital Loans (as defined in Note 4). As of June 30, 2022 and December
31, 2021, there were no amounts outstanding under any Working Capital Loans.
Based
on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs
through one year from this filing. Over this time period, the Company will be using the funds held outside of the Trust Account for paying
existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on
prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring,
negotiating and consummating the Business Combination.
In connection with the Company's
assessment of going concern considerations in accordance with Financial Accounting Standards Board ("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 January 8, 2023. The unaudited condensed financial statements do not include any adjustment
that might be necessary if the Company is unable to continue as a going concern. Management plans to complete a business combination prior
to the mandatory liquidation.
NOTE
2 —
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of Presentation
The unaudited condensed financial
statements of the Company 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. Certain information or footnote disclosures normally included in financial statements
prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial
reporting. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of financial position,
results of operations, or cash flows. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair
presentation have been included.
7
The
accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes
thereto included in the annual report on Form 10-K filed by the Company with the SEC on March 30, 2022. The interim results for the
three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December
31, 2022 or for any future periods.
Emerging
Growth Company
The
Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the
JOBS Act, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public
companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent
registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations
regarding executive compensation in its periodic reports and proxy statements, not being required to comply with any requirement
that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or to provide a supplement
to the auditor's report providing additional information about the audit and the financial statements and exemptions from
the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved.
Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The
Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and
it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the
new or revised 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.
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.
There were
no
cash equivalents at June 30, 2022 and December 31, 2021.
Investments in Trust Account
Investments held in trust account is comprised of investments in a money
market fund that invests in U.S. government securities and generally have a readily determinable fair value. Such investments are recognized
at fair value and presented on the condensed balance sheets at the end of each reporting period. Gains and losses resulting from the change
in fair value of these securities are included in income from investments held in trust account in the accompanying unaudited condensed
statements of operations. The estimated fair values of investments held in the trust account are determined using available market information.
Deferred
Offering Costs Associated with the Initial Public Offering
The
Company complies with the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin  Topic 5A – "Expenses
of Offering." Costs incurred in connection with preparation for the Public Offering ($
695,809
) together with $
10,953,007
of underwriter's discount, were allocated to equity instruments ($
11,168,880
) and derivative warrant liabilities ($
479,936
),
based on their relative values, and charged to temporary equity or expensed (in the case of the portion allocated to derivative
warrant liabilities) upon completion of the Initial Public Offering.
Income
Taxes
The
Company follows the asset and liability method of accounting for income taxes under FASB ASC Topic 740, "Income Taxes."
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between
the financial statement's 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. As of June 30, 2022 and December 31, 2021, the Company had deferred tax
assets of approximately $
217,000
and $
129,000
, respectively, with a full valuation allowance against them.
The Company's current taxable
income primarily consists of income earned on the Trust Account. The Company's general and administrative costs are generally considered
start-up costs and are not currently deductible. During the three and six months ended June 30, 2022, the Company recorded
no
income tax
expense. The Company's effective tax rate for the three and six months ended June 30, 2022 was approximately
0%
,
which differs from the expected income tax rate due to the start-up costs (discussed above), the change in value of warrant liabilities,
and the transaction costs allocated to the warrant liabilities which are not currently deductible.
8
FASB
ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement
of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more
likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties
related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for
interest and penalties as of June 30, 2022 and December 31, 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. The Company is subject to income
tax examinations by major taxing authorities since inception.
Net
Income/(Loss) per Common Share
The
Company complies with accounting and disclosure requirements of FASB ASC Topic 260, "Earnings Per Share." The Company
has two classes of shares, which are referred to as Class A common stock and Class B common stock. Income and losses
are shared pro rata between the two classes of shares. This presentation assumes a business combination as the most likely outcome.
Net income/(loss) per common stock is calculated by dividing the net income/(loss) by the weighted average shares of common stock
outstanding for the respective period.
The
calculation of diluted net income/(loss) per common stock does not consider the effect of the warrants issued in connection with the
IPO (including exercise of the over-allotment option) and the Private Placement to purchase an aggregate
of 23,625,000 shares of Class A common stock in the calculation of diluted income/(loss) per share, because their
exercise is contingent upon future events and their inclusion would be anti-dilutive under the treasury stock method. As a result,
diluted net income/(loss) per share is the same as basic net income/(loss) per share for the three and six months ended June 30,
2022 and 2021. Accretion associated with the redeemable Class A common stock is excluded from earnings per share as the
redemption value approximates fair value.
The
following tables present a reconciliation of the numerator and denominator used to compute basic and diluted net income/(loss) per share
for each class of common stock:
For
the Three Months Ended
June
30, 2022
June
30, 2021
Class
A
Class
B
Class
A
Class
B
Basic
and diluted net income/(loss) per common share:
Numerator
Allocation
of net income/(loss)
$
2,582,845
$
640,904
$
—
$
—
Denominator
Basic
and diluted weighted average common stock outstanding
20,855,250
5,175,000
—
4,500,000
Basic
and diluted net income/(loss) per common share
$
0.12
$
0.12
$
—
$
—
For the Six Months Ended
June 30, 2022
June 30, 2021
Class A
Class B
Class A
Class B
Basic and diluted net income/(loss) per common share:
Numerator
Allocation of net income/(loss)
$
5,508,283
$
1,366,820
$
—
$
(
450
)
Denominator
Basic and diluted weighted average common stock outstanding
20,855,250
5,175,000
—
4,500,000
Basic and diluted net income/(loss) per common share
$
0.26
$
0.26
$
—
$
(
0.00
)
Redeemable
Common Stock
As
discussed in Note 1, all of the
20,700,000
Public Shares sold as part of Units in the Initial Public Offering contain a redemption
feature which allows for the redemption of the Public Shares if the Company holds a stockholder vote or there is a tender offer
for shares in connection with a Business Combination. In accordance with FASB ASC 480, redemption provisions not solely within
the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which
involve the redemption and liquidation of all of the entity's equity instruments, are excluded from the provisions of FASB
ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem
its Public Shares in an amount that would cause its net tangible assets (i.e., total assets less intangible assets and liabilities)
to be less than $
5,000,001
upon the closing of a Business Combination.
While
redemptions cannot cause the Company's net tangible assets to fall below $5,000,000, all shares of Class A common stock
sold in the Initial Public Offering are redeemable and will be classified as temporary equity on the Company's
balance sheet until such time as a redemption event takes place. The value of Class A common stock that may be redeemed will be
equal to $10.15 per share (which is the assumed redemption price) multiplied by 20,700,000 shares of Class A common stock.
Derivative
Warrant Liabilities
The Company accounts for warrants
as either equity-classified or liability-classified instruments based on an assessment of the warrant's specific terms and in accordance
with FASB ASC 480, "Distinguishing Liabilities from Equity" ("ASC 480") and ASC 815, "Derivatives and Hedging"
("ASC 815"). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet
the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under
ASC 815, including whether the warrants are indexed to the Company's own shares, among other conditions for equity classification.
This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent
quarterly period end date while the warrants are outstanding.
For
issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded
as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the
criteria for equity classification, the warrants are required to be recorded at their initial fair value of the date of issuance,
and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain
or loss on the statements of operations. Costs associated with issuing the warrants classified as derivative liabilities are charged
to operations when the warrants are issued.
9
Concentration
of Credit Risk
Financial
instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution,
which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $
250,000
. The Company has not experienced losses
on this account, and management believes the Company is not exposed to significant risks on such account.
Use
of Estimates
The
preparation of financial statements in conformity with GAAP requires the Company's management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and 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 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.
Recent
Accounting Pronouncements
In August 2020, the FASB issued
ASU 2020-06, "Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts
in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity"
("ASU 2020-06"), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that
require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope
exception guidance pertaining to equity classification of contracts in an entity's own equity. The new standard also introduces
additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity's own equity.
ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible
instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal
years, with early adoption permitted. The Company is currently evaluating the impact the pronouncement will have on the unaudited condensed
financial statements.
Management does not believe that
any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company's unaudited condensed financial statements.
Risks and Uncertainties
Management continues to evaluate the impact of the COVID-19 pandemic on the industry
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 unaudited
condensed financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the
outcome of these uncertainties.
In February 2022, a military
conflict started between Russia and Ukraine. The ongoing military conflict have provoked strong reactions from the United States, the
UK, the European Union and various other countries around the world, including the imposition of broad financial and economic sanctions
against Russia. Further, the precise effects of the ongoing military conflict and these sanctions on the global economies remain uncertain
as of the date of these unaudited condensed financial statements. 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 unaudited condensed financial statements.
10
NOTE
3 —
INITIAL PUBLIC OFFERING
On
October 8, 2021, the Company consummated the Public Offering of
20,700,000
Units, which includes the full exercise by the underwriter
of its option to purchase an additional
2,700,000
Units, at a price of $
10.00
per unit (the "Units"). Each Unit consists
of one share of the Company's Class A common stock, $
0.0001
par value and three-fourths of one redeemable warrant ("Public
Warrant"). Each whole Warrant offered in the Initial Public Offering is exercisable to purchase one share of Class A
common stock at $
11.50
per share, subject to adjustment (see Note 6).
Simultaneously
with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of
8,100,000
Private Placement Warrants for
an aggregate purchase price of $
8,100,000
. Each Private Placement Warrant is exercisable to purchase one share of Class A
common stock at a price of $
11.50
per share.
NOTE
4 —
RELATED PARTY TRANSACTIONS
Founder
Shares
On
October 21, 2020, the Sponsor paid an aggregate of $
25,000
,
or approximately $0.004 per share, to cover certain of the Company's offering costs in consideration of
5,750,000
shares of  Class B common stock, par value $
0.0001
.
On August 30, 2021, the Sponsor forfeited
1,437,500
of these shares, for no consideration, such that there were
4,312,500
shares of Class B common stock outstanding. On October 5, 2021, the Company effected a stock dividend of 0.2 of a founder share for
each outstanding founder share, which resulted in the Sponsor holding an aggregate of
5,175,000
Founder Shares. The Founder Shares included an aggregate of up to
675,000
shares subject to forfeiture to the extent that the underwriter's over-allotment option was not exercised in full or in part,
so that the Sponsor would own, on an as-converted basis, 20% of the Company's issued and outstanding shares after the Initial
Public Offering. As a result of the underwriter's election to exercise fully its over-allotment option,
675,000
Founder Shares were no longer subject to forfeiture. All share and per-share amounts have been retroactively restated to reflect the
stock dividend. On October 5, 2021, the Sponsor transferred
150,000
Founder Shares to its independent directors.
The Sponsor has agreed, subject
to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earlier to occur of (A) one year after
the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last reported sale price of
the Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination,
or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results
in all of the Company's stockholders having the right to exchange their shares of common stock for cash, securities or other property.
Promissory
Note—Related Party
On
October 31, 2020, the Sponsor agreed to loan the Company an aggregate of up to $
250,000
to cover expenses related to the Initial
Public Offering pursuant to a promissory note (the "Promissory Note"). The Promissory Note was non-interest bearing
and payable, as amended, on the earlier of December 31, 2021 or the completion of the Initial Public Offering. On October 15,
2021, the Company repaid the balance in full to the Sponsor. Because the balance of the Promissory Note has been repaid, it is
no longer available to the Company.
Administrative
Support Agreement
Commencing
on the effective date of the Initial Public Offering, on October 5, 2021, the Company agreed to pay the Sponsor a total of $
10,000
per month for office space, and administrative support services. Upon completion of an initial Business Combination or the
Company's liquidation, the Company will cease paying these monthly fees. For the three months ended June 30, 2022, the Company
incurred $
30,000
of these fees which are included in general and administrative expenses – related party on the unaudited
condensed statements of operations. For the six months ended June 30, 2022, the Company incurred $
60,000
of these fees which are included in general and administrative expenses – related party on the unaudited condensed statements
of operations. Additionally, the Company prepaid $
60,000
of these fees which are included in prepaid expenses on the accompanying unaudited condensed balance sheet as of June 30,
2022.
11
Related
Party Loans
In
order to finance transaction costs in connection with a Business Combination, the Sponsor, or 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. 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. 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. The Working Capital Loans would either be repaid upon consummation
of a Business Combination, without interest, or, at the lender's discretion, up to $
1,500,000
of such Working Capital Loans
may be convertible into warrants at a price of $
1.00
per warrant at the option of the lender. The warrants would be identical
to the Private Placement Warrants. As of June 30, 2022 and December 31, 2021, there were no working capital loans outstanding.
NOTE
5 —
COMMITMENTS AND CONTINGENCIES
Registration
Rights
The
holders of the Founder Shares, Private Placement Warrants, warrants and representative shares that may be issued upon conversion
of Working Capital Loans (and any shares of Class A common stock issuable upon the exercise of the Private Placement Warrants
and warrants that may be issued upon conversion of Working Capital Loans) are entitled to registration rights pursuant to a registration
rights agreement signed on the effective date of Initial Public Offering. The holders of these securities will be entitled to
make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have
certain "piggy-back" registration rights with respect to registration statements filed subsequent to the completion
of a Business Combination. However, the registration rights agreement provides that the Company will not permit any registration
statement filed under the Securities Act to become effective until termination of the applicable lockup period. The Company will
bear the expenses incurred in connection with the filing of any such registration statements.
Underwriting
Agreement
The
Company granted the underwriter a 45-day option from the date of Initial Public Offering to purchase up to
2,700,000
additional
Units to cover over-allotments, if any, at the Initial Public Offering price less the underwriting discounts and commissions.
At October 8, 2021, the underwriter exercised such option in full.
The
underwriter was entitled to an underwriting discount of $0.125 per Unit, or $2,156,250 in the aggregate of the gross proceeds
of the Initial Public Offering. In addition, the underwriter is entitled to a deferred fee of $0.35 per Unit, or $6,037,500 in
the aggregate; provided that up to 0.875% of the gross proceeds or $1,509,375 in the aggregate may be paid to third parties not
participating in the offering (but who are members of the Financial Industry Regulatory Authority ("FINRA") or regulated
broker-dealers) that assist the underwriter in consummating the initial Business Combination. The deferred fee will be waived
by the underwriter in the event that the Company does not complete a Business Combination, subject to the terms of the underwriting
agreement.
12
In
addition, the Company issued to the underwriter
155,250
non-redeemable shares of Class A common stock
upon closing of the Initial Public Offering, at a price of $
0.0001
(the "Representative Shares"). These
shares were fair valued at $
1,120,507
at
the Initial Public Offering using Black-Scholes option pricing model utilizing Level 3 inputs. The holder of the Representative
Shares has agreed not to transfer, assign or sell any such shares without the Company's prior consent until the completion of the
Company's initial Business Combination. In addition, the holder of the Representative Shares has agreed (i) to waive its conversion
rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of the Company's
initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust account with respect to such shares
if the Company fails to complete its initial Business Combination within the required time period. The Representative Shares have been
deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness
of the registration statement.
NOTE
6 –
WARRANTS
Public Warrants may only be exercised
for a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade. The
Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months
from the closing of the Initial Public Offering. The Public Warrants will expire five years after the completion of a Business Combination
or earlier upon redemption or liquidation. As of June 30, 2022 and December 31, 2021,
15,525,000
Public Warrants and
8,100,000
Private
Warrants, respectively, were outstanding.
The Company will not be obligated
to deliver any shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant
exercise unless a registration statement under the Securities Act with respect to the shares of Class A common stock underlying the
warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect
to registration, or a valid exemption from registration is available. No warrant will be exercisable and the Company will not be obligated
to issue shares of Class A common stock upon exercise of a warrant unless the share of Class A common stock issuable upon such
warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered
holder of the warrants.
The Company has agreed that as
soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, the Company will use its
commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the shares
of Class A common stock issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause
the same to become effective within 60 business days following the closing of the initial business combination and to maintain the effectiveness
of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance
with the provisions of the warrant agreement. If a registration statement covering the issuance of the shares of Class A common stock
issuable upon exercise of the warrants is not effective by the 60th business day after the closing of a Business Combination, warrant
holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to
maintain an effective registration statement, exercise warrants on a "cashless basis" in accordance with Section 3(a)(9)
of the Securities Act or another exemption. In addition, if the Class A common stock are at the time of any exercise of a warrant
not listed on a national securities exchange such that they satisfy the definition of a "covered security" under Section 18(b)(1)
of the Securities Act, the Company may, at its option, require holders of the Public Warrants who exercise their warrants to do so on
a "cashless basis" in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company elects to do
so, the Company will not be required to file or maintain in effect a registration statement, but it will use its best efforts to register
or qualify the shares under applicable blue sky laws to the extent an exemption is not available.
13
Redemption of warrants when
the price per share of Class A common stock equals or exceeds $18.00.
Once the Public Warrants become exercisable, the Company
may redeem the Public Warrants (except with respect to the Private Placement Warrants):
●
in whole and not in part;
●
at a price of $0.01 per warrant;
●
upon not less than 30 days prior written notice of redemption to each warrant holder; and
●
if, and only if, the reported last sale price of the shares of the Company's Class A common stock for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders (the "Reference Value") equals or exceeds $18.00 per share (as adjusted).
If and when the warrants become redeemable by the
Company, the Company 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.
Redemption of warrants when
the price per share of Class A common stock equals or exceeds $10.00.
Once the Public Warrants become exercisable, the Company
may redeem the Public 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 common stock;
●
if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted); and
●
if the Reference Value is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.
If and when the Public Warrants
become redeemable by the Company, the Company 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.
If the Company calls the Public
Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on
a "cashless basis," as described in the warrant agreement. The exercise price and number of shares of Class A common
stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization,
reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuances of Class A
common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants.
If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in
the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution
from the Company's assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire
worthless.
14
In addition, if (x) the
Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with
the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A common (with such
issue price or effective issue price to be determined in good faith by the Company's board of directors 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"), (y) the aggregate gross proceeds from such issuances
represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the
date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the
Company's Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company
consummates a Business Combination (such price, the "Market Value") is below $9.20 per share, the exercise price of the Public
Warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the
$18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of
the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price described above will be adjusted (to the
nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.
The Private Placement Warrants
are identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Placement
Warrants and the Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable
or salable until the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement
Warrants will be exercisable on a cashless basis and be non-redeemable so long as they are held by the initial purchasers or their permitted
transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees,
the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.
NOTE
7 –
CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
The
Company's Class A common stock sold during the Initial Public Offering features certain redemption rights that are considered
to be outside of the Company's control and subject to the occurrence of future events. The Company is authorized to issue
100,000,000
shares of Class A common stock with a par value of $
0.0001
per share. Holders of the Company's Class A common stock are entitled to one vote for each share. As of June 30, 2022 and
December 31, 2021, there were
20,855,250
shares of Class A common stock outstanding, of which
20,700,000
shares are subject to possible redemption and are classified outside of stockholders' deficit in the unaudited condensed
balance sheets.
The
Class A common stock subject to possible redemption reflected on the unaudited condensed balance sheets is reconciled on the
following table:
Gross proceeds from Initial Public Offering
$
207,000,000
Less:
Fair value of Public Warrants at issuance
(
9,159,750
)
Offering costs allocated to Class A common stock subject to possible redemption
(
11,168,880
)
Plus:
Accretion on Class A common stock subject to possible redemption amount
23,433,630
Class A common stock subject to possible redemption
$
210,105,000
15
NOTE
8 —
STOCKHOLDERS' DEFICIT
Preferred
Stock
— The Company was authorized to issue
1,000,000
shares of preferred stock with a par value of $
0.0001
per
share with such designations, voting and other rights and preferences as may be determined from time to time by the Company's
board of directors. At June 30, 2022 and December 31, 2021, there were
no
shares of preferred stock issued or outstanding.
Class A
Common Stock
— The Company was authorized to issue
100,000,000
shares of Class A common stock with a par value
of $
0.0001
per share. Holders of Class A common stock are entitled to one vote for each share. At June 30, 2022 and December
31, 2021, there were
20,855,250
shares of Class A common stock issued and outstanding, of which
20,700,000
shares are subject
to redemption.
Class B
Common Stock
— The Company was authorized to issue
10,000,000
shares of Class B common stock with a par value
of $
0.0001
per share. Holders of Class B common stock are entitled to one vote for each share. At June 30, 2022 and December
31, 2021, there were
5,175,000
shares of Class B common stock issued and outstanding.
Holders
of Class B common stock will have the right to elect all of the Company's directors prior to a Business Combination.
Holders of Class A common stock and Class B common stock will vote together as a single class on all other matters submitted
to a vote of stockholders except as required by law.
The
shares of Class B common stock will automatically convert into shares of Class A common stock on the first business
day following the completion of a Business Combination at a ratio such that the number of shares of Class A common stock
issuable upon conversion of all Founder shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the
total number of shares of the Company's common stock issued and outstanding upon completion of Initial Public Offering,
plus (ii) the sum of (a) all shares of the Company's common stock issued or deemed issued or issuable upon conversion
or exercise of any equity-linked securities or deemed issued by the Company in connection with or in relation to the completion
of a Business Combination, excluding (1) any shares of Class A common stock or equity-linked securities exercisable
for or convertible into shares of Class A common stock issued, or to be issued, to any seller in a Business Combination and
any (2) Private Placement Warrants issued to the Sponsor or any of its affiliates upon conversion of Working Capital Loans
minus (b) the number of Public Shares redeemed by public stockholders in connection with a Business Combination.
16
NOTE
9 –
FAIR VALUE MEASUREMENTS
The
Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value
at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.
The
fair value of the Company's financial assets and liabilities reflects management's estimate of amounts that the Company
would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an
orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets
and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and
to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities).
The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable
inputs used in order to value the assets and liabilities:
Level
1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market
in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on
an ongoing basis.
Level
2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar
assets or liabilities and quoted prices for identical assets or liabilities in markets that are active.
Level
3: Unobservable inputs based on the Company's assessment of the assumptions that market participants would use in pricing
the asset or liability.
The
following tables present information about the Company's assets and liabilities that are measured at fair value on a recurring
basis as of June 30, 2022 and December 31, 2021 and indicate the fair value hierarchy of the valuation techniques that the Company
utilized to determine such fair value.
Fair Value Measured as of June 30, 2022
Description
Quoted Prices in Active Markets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Other Unobservable Inputs
(Level 3)
Assets:
Investments held in Trust Account
$
210,413,963
$
—
$
—
Liabilities:
Private Placement Warrants
$
—
$
733,050
$
—
Public Warrants
$
1,405,013
$
—
$
—
17
Fair Value Measured as of December 31, 2021
Description
Quoted Prices in Active Markets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Other Unobservable Inputs
(Level 3)
Assets:
Investments held in Trust Account
$
210,109,087
$
—
$
—
Liabilities:
Private Placement Warrants
$
—
$
3,159,000
$
—
Public Warrants
$
6,054,750
$
—
$
—
Transfers
to/from Levels 1, 2, and 3 are recognized at the end of each reporting period.
Initial
Measurement
The
Company established the initial fair value for the warrants on October 8, 2021, the date of the Company's Initial Public
Offering, using a market-based approach for the Private Placement Warrants and the Public Warrants. The Company allocated the
proceeds received from (i) the sale of Units (which is inclusive of one share of Class A common stock and three-fourth of
one Public Warrant), (ii) the sale of Private Placement Warrants, and (iii) the issuance of Class B common stock, first
to the Warrants based on their fair values as determined at initial measurement, with the remaining proceeds allocated to Class A
common stock subject to possible redemption (temporary equity), Class A common stock (permanent equity) and Class B
common stock (permanent equity) based on their relative fair values at the initial measurement date. The Warrants were classified
as Level 3 at the initial measurement date due to the use of unobservable inputs. On October 8, 2021, the Private Placement
Warrants and Public Warrants were determined to have aggregate values of $4.78 million and $9.16 million, respectively.
18
Subsequent
Measurement
The
Warrants are measured at fair value on a recurring basis. The subsequent measurement of the Public Warrants as of June 30, 2022
and December 31, 2021 is classified as Level 1 due to the use of an observable market quote in an active market under
the ticker AVACW. As the transfer of Private Placement Warrants to anyone outside of a small group of individuals who are permitted
transferees would result in the Private Placement Warrants having substantially the same terms as the Public Warrants, the Company
determined that the fair value of each Private Placement Warrant is equivalent to that of each Public Warrant, with an insignificant
adjustment for short-term marketability restrictions. As such, the Private Placement Warrants are classified as Level 2.
As of June 30, 2022, the aggregate values of the Private Placement Warrants and Public Warrants were $
1.4
million and $
733,000
,
respectively. As of December 31, 2021, the aggregate values of the Private Placement Warrants and Public Warrants were $
3.16
million
and $
6.05
million, respectively.
NOTE
10 —
SUBSEQUENT EVENTS
The
Company evaluated subsequent events and transactions that occurred after the balance sheet date through July 29, 2022, the date
that the unaudited condensed financial statements were issued. The Company did not identify any subsequent events that would have
required adjustment or disclosure in the unaudited condensed financial statements.
19
Item
2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
References
in this quarterly report on Form 10-Q (the "Quarterly Report") to "we," "us" or the "Company"
refer to Avalon Acquisition Inc. References to our "management" or our "management team" refer to our
officers and directors, and references to the "Sponsor" refer to Avalon Acquisition Holdings LLC. The following discussion
and analysis of the Company's financial condition and results of operations should be read in conjunction with the financial
statements and the notes thereto contained elsewhere in this Quarterly Report. Certain information contained in the discussion
and analysis set forth below includes forward-looking statements that involve risks and uncertainties.
Special
Note Regarding Forward-Looking Statements
This
Quarterly Report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act') that are
not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected
and projected. All statements, other than statements of historical fact included in this Quarterly Report including, without limitation,
statements in this "Management's Discussion and Analysis of Financial Condition and Results of Operations" regarding
the Company's financial position, business strategy and the plans and objectives of management for future operations, are
forward-looking statements. Words such as "expect," "believe," "anticipate," "intend,"
"estimate," "seek" and variations and similar words and expressions are intended to identify such forward-looking
statements. Such forward-looking statements relate to future events or future performance, but reflect management's current
beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ
materially from the events, performance and results discussed in the forward-looking statements. For information identifying important
factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please
refer to the Risk Factors section of this Quarterly Report and the Risk Factors section of our Form 10-K filed with the SEC on
March 30, 2022. The Company's securities filings can be accessed on the EDGAR section of the SEC's website at www.sec.gov.
Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new information, future events or otherwise.
Overview
We
are a blank check company formed on October 12, 2020, under the laws of the State of Delaware. We were incorporated for the purpose
of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses or entities that we have not yet identified (the "Business Combination").
As
of June 30, 2022, we have not yet commenced operations. All activity for the period from October 12, 2020 (inception) through
June 30, 2022, relates to our formation, our initial public offering (the "Initial Public Offering"), which is described
below, and our search for a prospective initial business combination. We do not expect to generate any operating revenues until
after the completion of our Business Combination, at the earliest. We generate non-operating income in the form of income from
the proceeds derived from the Initial Public Offering.
20
Our
sponsor is Avalon Acquisition Holdings LLC, a Delaware limited liability company (the "Sponsor"). The registration
statement for our Initial Public Offering was declared effective by the SEC on October 5, 2021. On October 8, 2021, we consummated
our Initial Public Offering of 20,700,000 units (the "Units" and, with respect to the Class A common stock included
in the Units being offered, the "Public Shares"), at $10.00 per Unit, including 2,700,000 Units sold as part of the
exercise of the underwriter's over-allotment option in full, generating gross proceeds of $207,000,000. We incurred $11,648,816
in transaction costs, including $3,708,007 of underwriting fees, $7,245,000 of deferred underwriting fees and $695,809 of other
costs.
Simultaneously
with the closing of the Initial Public Offering, we consummated the sale of 8,100,000 warrants (each, a "Private Placement
Warrant" and, collectively, the "Private Placement Warrants") at a price of $1.00 per Private Placement Warrant
in a private placement to our Sponsor, generating gross proceeds of $8,100,000.
Following the Initial Public Offering, the exercise
of the over-allotment option and the sale of the Private Placement Warrants, a total of $210,105,000 was placed in a trust account ("Trust
Account"), located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and is invested only
in an open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7
of the Investment Company Act, until the earlier of (i) the completion of a Business Combination or (ii) the distribution of
the funds in the Trust Account, as described below.
Our
units, shares of Class A common stock, and public warrants are each traded on the Nasdaq Global Market under the symbols "AVACU,"
"AVAC," and "AVACW," respectively. Our units commenced public trading on October 6, 2021, and our shares
of Class A common stock and public warrants commenced separate public trading on December 3, 2021.
Our management has broad discretion with respect to the specific application of the net proceeds of the Initial Public
Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied
generally toward consummating a Business Combination. There is no assurance that we will be able to complete a Business
Combination successfully.
If
we do not complete a Business Combination within the Combination Period, we will (i) cease all operations except for
the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the
Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay taxes (less up to $100,000
to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish
public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
the Company's remaining stockholders and the Company's board of directors, dissolve and liquidate, subject in each
case to the Company's obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.
Liquidity
and Going Concern
As of June 30, 2022, we had $533,814 in our operating
bank account, $210,413,963 in securities held in the Trust Account, and working capital of $875,917 which excludes franchise and income
taxes payable as such amounts can be paid from income earned in the Trust Account. We intend to use the funds held in the Trust Account,
including any amounts representing income earned on the Trust Account (less taxes payable), to complete our Business Combination. To the
extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining
proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue our growth strategies.
For
the six months ended June 30, 2022, net cash used in operating activities was $502,879. Net income for the period of $6,875,103 was
impacted by income earned on investments held in Trust Account of $304,876 and change in fair value of derivative warrant
liabilities of $7,075,687. Net changes in operating assets and liabilities provided $2,581 of cash from operating
activities.
For
the six months ended June 30, 2021, net cash used in operating activities was $1,947. Net loss for the period of $450 was impacted
by net changes in operating assets and liabilities of $1,497.
Our liquidity needs prior to the consummation of our
Initial Public Offering were satisfied through the payment of $25,000 from the Sponsor to cover certain expenses on behalf of the Company
in exchange for the issuance of 5,175,000 of Class B common stock, par value $0.0001 per share (the "Founder Shares"), and
a $197,000 loan from our Sponsor, under an unsecured promissory note, which was repaid in full on October 15, 2021. Subsequent to the
consummation of the Initial Public Offering, the Company's liquidity has been satisfied through the net proceeds of $1.82 million
from the consummation of the Initial Public Offering (including the Over-Allotment) and the Private Placement held outside of the Trust
Account. In addition, in order to finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of
our Sponsor, or certain of our officers and directors may, but are not obligated to, provide us the funds as may be required ("Working
Capital Loans"). As of June 30, 2022, there were no amounts outstanding under any Working Capital Loans.
21
Based on the foregoing, our management believes that
we will have sufficient working capital and borrowing capacity to meet our needs through the earlier of the consummation of a Business
Combination or one year from this filing. Over this time period, we will be using the funds held outside of the Trust Account for paying
existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on
prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring,
negotiating and consummating the Business Combination.
In connection with the Company's assessment
of going concern considerations in accordance with Financial Accounting Standards Board ("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 January 8, 2023. The financial statements do not include any adjustment that might be necessary if the
Company is unable to continue as a going concern. Management plans to complete a business combination prior to the mandatory liquidation.
Results
of Operations
Our
entire activity from October 12, 2020 (inception) through October 7, 2021 was in preparation for an Initial Public Offering, and
since our Initial Public Offering, our activity has been limited to the search for a prospective initial Business Combination.
We will not generate any operating revenues until the closing and completion of our initial Business Combination.
For
the three months ended June 30, 2022, we had a net income of $3,223,749, which consisted of operating costs of $193,043 and franchise
tax expense of $162,614, offset by income earned on investments held in the Trust Account of $283,719 and change in fair value
of derivative warrant liabilities of $3,295,687.
For the three months ended June 30, 2021, we had no net income.
For
the six months ended June 30, 2022, we had a net income of $6,875,103, which consisted of operating costs of $292,796 and franchise
tax expense of $212,664, offset by income earned on investments held in the Trust Account of $304,876 and change in fair value
of derivative warrant liabilities of $7,075,687.
For
the six months ended June 30, 2021, we had a net loss $450, which consisted of formation costs.
Contractual
Obligations
Registration
and Stockholder Rights
The
holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans
(and any Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon
conversion of Working Capital Loans) are entitled to registration rights pursuant to a registration rights agreement. The holders
of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed
subsequent to the completion of the initial Business Combination. We will bear the expenses incurred in connection with the filing
of any such registration statements.
Underwriting
Agreement
The underwriter was paid
an underwriting discount of $0.125 per unit, or $2,587,500 in the aggregate, upon the closing of our Initial Public Offering. In addition,
$0.35 per unit, or $7,245,000 in the aggregate, will be payable to the underwriter for deferred underwriting commissions from the amounts
held in the Trust Account solely in the event that that we complete a Business Combination, subject to the terms of the underwriting agreement.
We granted the underwriter
a 45-day option from the date of our Initial Public Offering to purchase up to 2,700,000 additional Units at the Initial Public Offering
price less the underwriting discounts and commissions. The underwriter exercised the over-allotment option in full on October 8, 2021,
generating gross proceeds of $27 million.
Administrative
Support Agreement
We do not have any long-term debt, capital lease obligations,
operating lease obligations or long-term liabilities, other than an agreement to pay the Sponsor a monthly fee of $10,000 for office space,
administrative and support services to the Company. We began incurring these fees on October 8, 2021 and will continue to incur these
fees monthly until the earlier of the completion of the Business Combination and our liquidation. For the three and six months ended June
30, 2022, we incurred $30,000 and $60,000, respectively, for these services.
22
Critical
Accounting Policies and Estimates
This
management's discussion and analysis of our financial condition and results of operations is based on our unaudited condensed
financial statements, which have been prepared in accordance with GAAP. The preparation of these unaudited condensed financial
statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses
and the disclosure of contingent assets and liabilities in our financial statements. On an ongoing basis, we evaluate our estimates
and judgments, including those related to fair value of financial instruments and accrued expenses. We base our estimates on historical
experience, known trends and events and various other factors that we believe to be reasonable under the circumstances, the results
of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. Actual results may differ from these estimates under different assumptions or conditions. There have been
no significant changes in our critical accounting policies as discussed in the Form
10-K
filed
by us with the SEC on March 30, 2022.
Recent
Accounting Standards
In August 2020, the FASB issued ASU No. 2020-06,
"Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in
Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own
Equity" ("ASU 2020-06"), which simplifies accounting for convertible instruments by removing major separation
models required under current GAAP. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to
qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU
2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with
early adoption permitted. We are currently evaluating the impact on our unaudited condensed financial statements.
Management
does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have
a material effect on our unaudited condensed financial statements.
Off-Balance
Sheet Arrangements
We
did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K as of June 30, 2022.
23
JOBS
Act
The
Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") contains provisions that, among other things, relax
certain reporting requirements for qualifying public companies. We qualify as an "emerging growth company" and under
the JOBS Act are allowed to comply with new or revised accounting pronouncements based on the effective date for private
(not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result,
we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required
for non-emerging growth companies. As such, our financial statements may not be comparable to companies that comply with public
company effective dates.
Additionally,
we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act.
Subject to certain conditions set forth in the JOBS Act, if, as an "emerging growth company," we choose to rely on
such exemptions we may not be required to, among other things, (i) provide an auditor's attestation report on our system
of internal controls over financial reporting pursuant to Section 404 of the JOBS Act, (ii) provide all of the compensation disclosure
that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act,
(iii) comply with any requirement that may be adopted by the Public Company Accounting and Oversight Board regarding mandatory
audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial
statements (auditor discussion and analysis) and (iv) disclose certain executive compensation related items such as the correlation
between executive compensation and performance and comparisons of our Chief Executive Officer's compensation to median employee
compensation. These exemptions will apply for a period of five years following the completion of our Initial Public Offering or
until we are no longer an "emerging growth company," whichever is earlier.
Item
3. Quantitative and Qualitative Disclosures About Market Risk
We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information
otherwise required under this item. As of June 30, 2022, we were not subject to any market or interest rate risk. The net proceeds
of the Initial Public Offering (including the Over-Allotment), including amounts in the Trust Account, are invested in a money
market fund that meet certain conditions under Rule 2a-7 under the Investment Company Act that invest only in direct
U.S. government treasury obligations. Due to the short-term nature of these investments, we believe there will be no associated
material exposure to interest rate risk.
We
have not engaged in any hedging activities since our inception, and we do not expect to engage in any hedging activities with
respect to the market risk to which we are exposed.
Item
4. Controls and Procedures
Evaluation
of Disclosure Controls and Procedures
Disclosure
controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is
recorded, processed, summarized, and reported within the time periods specified in the SEC's rules and forms, and that such
information is accumulated and communicated to our management, including our principal executive officer and principal financial
officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Under the supervision and with the participation of
our management, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal
quarter ended June 30, 2022, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based upon that evaluation,
our Certifying Officers concluded that our disclosure controls and procedures were effective as of June 30, 2022.
Changes
in Internal Control over Financial Reporting
There
was no change in our internal control over financial reporting that occurred during the fiscal quarter ended June 30, 2022 covered
by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal
control over financial reporting.
24
PART
II - OTHER INFORMATION
Item
1. Legal Proceedings.
None.
Item
1A. Risk Factors.
You
should consider the risks and uncertainties described under Item 1A of Part I of our Annual Report on Form 10-K for
the fiscal year ended December 31, 2021, which we filed with the Securities and Exchange Commission (the SEC")
on March 30, 2022, together with all other information contained or incorporated by reference in this Quarterly Report on
Form 10-Q, including the risk factor described below, when evaluating our business and our prospects.
Other
than as set forth below, there are no material changes to the risk factors set forth in Part I, Item 1A, in our
Annual Report on Form 10-K for the year ended December 31, 2021. Additional risk factors not presently known to
us or that we currently deem immaterial may also impair our business or results of operations.
Our
search for a Business Combination, and any target business with which we may ultimately consummate a Business Combination, may
be materially adversely affected by the geopolitical conditions resulting from the recent invasion of Ukraine by Russia and subsequent
sanctions against Russia, Belarus and related individuals and entities and the status of debt and equity markets, as well as protectionist
legislation in our target markets.
United
States and global markets are experiencing volatility and disruption following the escalation of geopolitical tensions and the
recent invasion of Ukraine by Russia in February 2022. In response to such invasion, the North Atlantic Treaty Organization
("NATO") deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European
Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals
and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication
(SWIFT) payment system. Certain countries, including the United States, have also provided and may continue to provide military
aid or other assistance to Ukraine during the ongoing military conflict, increasing geopolitical tensions with Russia. The invasion
of Ukraine by Russia and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States,
the United Kingdom, the European Union and other countries have created global security concerns that could have a lasting impact
on regional and global economies. Although the length and impact of the ongoing military conflict in Ukraine is highly unpredictable,
the conflict could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets,
as well as supply chain interruptions. Additionally, Russian military actions and the resulting sanctions could adversely affect
the global economy and financial markets and lead to instability and lack of liquidity in capital markets.
Any
of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions
resulting from the Russian invasion of Ukraine and subsequent sanctions, could adversely affect our search for a Business
Combination and any target business with which we may ultimately consummate a Business Combination. The extent and duration of
the Russian invasion of Ukraine, resulting sanctions and any related market disruptions are impossible to predict, but could be
substantial, particularly if current or new sanctions continue for an extended period of time or if geopolitical tensions result
in expanded military operations on a global scale. Any such disruptions may also have the effect of heightening many of the other
risks described in the "Risk Factors" section of our Annual Report on Form 10-K. If these disruptions or other matters
of global concern continue for an extensive period of time, our ability to consummate a Business Combination, or the operations
of a target business with which we may ultimately consummate a Business Combination, may be materially adversely affected.
25
Changes
in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, including our
ability to negotiate and complete a business combination and results of operations.
We
are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to
comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may
be difficult, time-consuming and costly. Those laws and regulations and their interpretation and application may also change from
time to time and those changes could have a material adverse effect on our business, investments, and results of operations. In
addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect
on our business, including our ability to negotiate and complete a Business Combination and results of operations of target business
with which we may ultimately consummate a Business Combination.
On
March 30, 2022, the SEC issued proposed rules (the "2022 Proposed Rules") relating to, among other items, enhancing
disclosures in business combination transactions involving special purpose acquisition companies ("SPACs") and private
operating companies; amending the financial statement requirements applicable to transactions involving shell companies; effectively
limiting the use of projections in SEC filings in connection with proposed business combination transactions; increasing the potential
liability of certain participants in proposed business combination transactions; and the extent to which SPACs could become subject
to regulation under the Investment Company Act. These rules, if adopted, whether in the form proposed or in revised form,
and certain interpretations expressed by the SEC in connection therewith, may materially adversely affect our ability to negotiate
and complete our initial business combination and may increase the costs and time related thereto.
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
None.
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
Not
Applicable.
Item
5. Other Information.
None.
Item
6. Exhibits.
The
following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.
No.
Description of Exhibit
31.1*
Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*
Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*
Inline XBRL Instance Document.
101.SCH*
Inline XBRL Taxonomy Extension Schema Document.
101.CAL*
Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*
Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*
Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE*
Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104*
Cover Page Interactive Data File.
*
Filed herewith.
**
Furnished herewith.
26
PART
III – SIGNATURES
Pursuant to the requirements of the Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AVALON ACQUISITION INC.
Date: July 29, 2022
By:
/s/ S. Craig Cognetti
Name:
S. Craig Cognetti
Title:
Chief Executive Officer
(Principal Executive Officer)
Date: July 29, 2022
By:
/s/ R. Rachel Hsu
Name:
R. Rachel Hsu
Title:
Chief Financial Officer
(Principal Accounting Officer and Financial Officer)
27