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



<p style="margin: 0">&#160;</p>

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

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<p style="margin: 0">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-size: 12pt"><b>Washington,
D.C. 20549</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: 18pt Times New Roman, Times, Serif"><b>FORM
<span id="xdx_908_edei--DocumentType_c20210208__20210930_zkKOzCf3EqO2"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:DocumentType">10-Q</ix:nonNumeric></span></b></span></p>

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<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">(Mark
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><span id="xdx_90C_edei--DocumentQuarterlyReport_c20210208__20210930_zcSr11YofzC7"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" format="ixt:booleantrue" name="dei:DocumentQuarterlyReport">&#9746;</ix:nonNumeric></span>
<b>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></p>

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<b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0; font-size: 10pt; text-align: center"><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">(I.R.S.
                                                                Employer</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">Identification
                                                            No.)</span></p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top; font-size: 10pt">
<td style="border-bottom: Black 1pt solid; font-size: 10pt; padding-top: 0; padding-right: 0; padding-left: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><b><span id="xdx_90B_edei--EntityAddressAddressLine1_c20210208__20210930_z6lmtgWkCWv2"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityAddressAddressLine1">1390 Market Street</ix:nonNumeric></span>, <span id="xdx_907_edei--EntityAddressAddressLine2_c20210208__20210930_zFlnLdHeTkVg"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityAddressAddressLine2">Suite 200</ix:nonNumeric></span></b><br />
<b><span id="xdx_904_edei--EntityAddressCityOrTown_c20210208__20210930_zZBjSr6Hj74k"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityAddressCityOrTown">San Francisco</ix:nonNumeric></span>, <span id="xdx_903_edei--EntityAddressStateOrProvince_c20210208__20210930_zZ5XGjMpK0V7"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityAddressStateOrProvince">CA</ix:nonNumeric></span> <span id="xdx_90F_edei--EntityAddressPostalZipCode_c20210208__20210930_zD5Rh9Ji5Dua"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityAddressPostalZipCode">94102</ix:nonNumeric></span></b></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Address
of Principal Executive Offices, including zip code)</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(<span id="xdx_906_edei--CityAreaCode_c20210208__20210930_zQnyOjjR066c"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:CityAreaCode">628</ix:nonNumeric></span>)
<span id="xdx_907_edei--LocalPhoneNumber_c20210208__20210930_zrOKbn9sgxNh"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:LocalPhoneNumber">251-1369</ix:nonNumeric></span></b></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Registrant&#8217;s
telephone number, including area code)</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Not
Applicable</b></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Former
name, former address and former fiscal year, if changed since last report)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: 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">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-family: 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="font-size: 10pt">
<td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 46%; padding-top: 0; padding-right: 0; padding-left: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Title
of each class</b></span></td>
<td style="padding: 0 0 1pt; vertical-align: top; width: 1%; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 18%; padding-top: 0; padding-right: 0; padding-left: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Trading
Symbol(s)</b></span></td>
<td style="padding: 0 0 1pt; vertical-align: top; width: 1%; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; vertical-align: top; width: 34%; padding-top: 0; padding-right: 0; padding-left: 0; text-align: center; font-size: 10pt; 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; background-color: white; font-size: 10pt">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_900_edei--Security12bTitle_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonMember_z7EkMXH9ryTh"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_UnitsEachConsistingOfOneShareOfClassCommonMember" name="dei:Security12bTitle">Units,
each consisting of one share of Class A Common ]Stock and one Redeemable Warrant</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_edei--TradingSymbol_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonMember_zboKzvMe9my6"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_UnitsEachConsistingOfOneShareOfClassCommonMember" name="dei:TradingSymbol">TGVC.U</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_908_edei--SecurityExchangeName_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--UnitsEachConsistingOfOneShareOfClassCommonMember_zZQo77quGZIl"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_UnitsEachConsistingOfOneShareOfClassCommonMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span>
Global Market</span></td></tr>
<tr style="vertical-align: top; background-color: white; font-size: 10pt">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_edei--Security12bTitle_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_zviWH0tYhDjh"><ix:nonNumeric contextRef="From2021-02-082021-09-30_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-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_edei--TradingSymbol_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_zK6NNh50nw9k"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_ClassCommonStockParValue0.0001PerShareMember" name="dei:TradingSymbol">TGVC</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_edei--SecurityExchangeName_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--ClassCommonStockParValue0.0001PerShareMember_zaI0ZE7h2uti"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_ClassCommonStockParValue0.0001PerShareMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span>
Global Market</span></td></tr>
<tr style="vertical-align: top; background-color: white; font-size: 10pt">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_edei--Security12bTitle_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember_zajqKHnMgxb2"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember" name="dei:Security12bTitle">Warrants,
each exercisable for one share Class A Common Stock for $11.50 per share</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_edei--TradingSymbol_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember_zJ2Ogx77N1e1"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember" name="dei:TradingSymbol">TGVC.W</ix:nonNumeric></span></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_edei--SecurityExchangeName_c20210208__20210930__us-gaap--StatementClassOfStockAxis__custom--WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember_zaKmmZ1euNWl"><ix:nonNumeric contextRef="From2021-02-082021-09-30_custom_WarrantsEachExercisableForOneShareClassCommonStockFor11.50PerShareMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">Nasdaq</ix:nonNumeric></span>
Global Market</span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: 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 Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes </span><span style="font-family: Times New Roman, Times, Serif">&#9744;
<span id="xdx_905_edei--EntityCurrentReportingStatus_c20210208__20210930_zOOKum5bOIbd"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityCurrentReportingStatus">No</ix:nonNumeric></span> &#9746;</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">&#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 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 id="xdx_90D_edei--EntityInteractiveDataCurrent_c20210208__20210930_zsL272q5ugqj"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric></span> </span><span style="font-family: Times New Roman, Times, Serif">&#9744;
No &#9744;</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">&#160;</span></p>

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

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    <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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page -->

<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">Indicate <span style="font-family: Times New Roman, Times, Serif">by
check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See the definitions of &#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-family: 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; font-size: 10pt">
    <td style="padding: 0; width: 5%; font-size: 10pt; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0; width: 41%; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9744;
    </span><span style="font-family: Times New Roman, Times, Serif">Large accelerated filer</span></td>
    <td style="padding: 0; width: 54%; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9744;</span><span style="font-family: Times New Roman, Times, Serif">Accelerated
    filer</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9746;</span><span style="font-family: Times New Roman, Times, Serif">
    <span id="xdx_904_edei--EntityFilerCategory_c20210208__20210930_za1RwMLgjvN"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated filer</ix:nonNumeric></span></span></td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_edei--EntitySmallBusiness_c20210208__20210930_zSidtSwiPJIh"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" format="ixt:booleantrue" name="dei:EntitySmallBusiness">&#9746;</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif">
    Smaller reporting company</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_edei--EntityEmergingGrowthCompany_c20210208__20210930_z4MLdWmoDaX3"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" format="ixt:booleantrue" name="dei:EntityEmergingGrowthCompany">&#9746;</ix:nonNumeric></span></span><span style="font-family: Times New Roman, Times, Serif">
    Emerging growth company</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#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">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><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90A_edei--EntityExTransitionPeriod_c20210208__20210930_z2p00SIsB6E5"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" 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-family: 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 id="xdx_907_edei--EntityShellCompany_c20210208__20210930_zor70G7xYvG"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" format="ixt:booleantrue" name="dei:EntityShellCompany">Yes</ix:nonNumeric></span> </span><span style="font-family: Times New Roman, Times, Serif">&#9746;
No &#9744;</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">&#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">As
of December 17, 2021, there were <span id="xdx_900_edei--EntityCommonStockSharesOutstanding_iI_c20211217__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDIiuJv79Yzd"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2021-12-17_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,557,500</ix:nonFraction></span> shares of the Class A Common Stock, par value $0</span>.0001 per share, and <span id="xdx_909_edei--EntityCommonStockSharesOutstanding_iI_c20211217__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zJUXD4D22Pq5"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2021-12-17_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,889,149</ix:nonFraction></span>
shares of the Class B Common Stock, par value $0.0001 per share, of the Company issued and outstanding.</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"></p>

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    <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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page -->

<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-top: 0; margin-bottom: 0; text-align: center"><b>TG VENTURE ACQUISITION CORP.<br />
Form 10-Q For the Quarter Ended September 30, 2021</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="b_001"></span>Table of Contents</b></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top; font-size: 10pt">
<td colspan="2" style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="border-bottom: black 1.5pt solid; padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Page</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td colspan="2" style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_001">Part I. Financial Information</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">1</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; width: 62px; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; width: 48px; text-align: center; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 1.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_002">Financial Statements</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">1</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_003">Unaudited Condensed Balance Sheet as of September 30, 2021</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">1</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_004">Unaudited Condensed Statements of Operations for the three months ended September 30, 2021 and for the period from February 8, 2021 (inception) through September 30, 2021</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">2</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_005">Unaudited Condensed Statement of Changes in Stockholder&#8217;s Equity for the period from February 8, 2021 (inception) through September 30, 2021</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0">3</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_006">Unaudited Condensed Statement of Cash Flows for the period from February 8, 2021 (inception) through September 30, 2021</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">4</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_007">Notes to Unaudited Condensed Financial Statements</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">5</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 2. </span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_008">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">16</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 3.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_009">Quantitative and Qualitative Disclosures Regarding Market Risk</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">20</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 4.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_010">Controls and Procedures</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">20</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td colspan="2" style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_011">Part II. Other Information</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 1.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_012">Legal Proceedings</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 1A. </span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_013">Risk Factors</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 2.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_014">Unregistered Sales of Equity Securities and Use of Proceeds</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 3.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_015">Defaults Upon Senior Securities</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 4. </span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_016">Mine Safety Disclosures</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 5. </span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_017">Other Information</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">21</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Item 6.</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_018">Exhibits</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">22</span></td></tr>
<tr style="vertical-align: top; background-color: White; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td colspan="2" style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="#a_019">Part III. Signatures</a></span></td>
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">23</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&#160;</p>

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_002"></span>Item 1. Financial Statements.</b></p>

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_003"></span>UNAUDITED CONDENSED BALANCE SHEET</b></p>

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

<table cellpadding="0" cellspacing="0" id="xdx_30F_111_zdDd7vIVqFdb" summary="xdx: Statement - UNAUDITED CONDENSED BALANCE SHEET (Unaudited)" 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_499_20210930_zLvS6yM5QWp9" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,<br /> 2021</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">(unaudited)</td></tr>
<tr id="xdx_404_eus-gaap--AssetsAbstract_iB_zrzzFM17oTJf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <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--CashAndCashEquivalentsAtCarryingValue_i01I_maCzuWL_z8hSRtjX6tWa" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; width: 70%"><p style="margin-top: 0; margin-bottom: 0">Cash&#160;</p></td><td style="width: 10%; padding-bottom: 1pt">&#160;</td>
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<tr id="xdx_402_eus-gaap--AssetsCurrent_i01TI_mtCzuWL_maCzaQS_zXPgX8KzY1C4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr id="xdx_403_eus-gaap--DeferredOfferingCosts_i01I_maCzaQS_zED8aRiBA9K8" style="vertical-align: bottom; background-color: White">
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<tr id="xdx_408_eus-gaap--Assets_iTI_mtCzaQS_z8RES3Hjyk1a" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<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></tr>
<tr id="xdx_40C_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr id="xdx_40F_eus-gaap--AccruedLiabilitiesCurrent_i01I_maCzDDk_zD14bpQLab9e" style="vertical-align: bottom; background-color: White">
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<tr id="xdx_40D_eus-gaap--Liabilities_iTI_mtCzDDk_maCzRbX_z6UPHtp9mvZj" style="vertical-align: bottom; background-color: White">
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<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></tr>
<tr id="xdx_405_eus-gaap--CommitmentsAndContingencies_iI_maCzRbX_zkmaXleqZRA2" style="vertical-align: bottom; background-color: White">
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<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></tr>
<tr id="xdx_405_eus-gaap--StockholdersEquityAbstract_iB_zf3ufAe8DuWi" style="vertical-align: bottom; background-color: White">
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<tr id="xdx_406_eus-gaap--AdditionalPaidInCapital_iI_maCzADs_zjA9TI1E96I6" style="vertical-align: bottom; background-color: White">
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<tr id="xdx_40C_eus-gaap--StockholdersEquity_iTI_mtCzADs_maCzRbX_zijG9WUJf0G" style="vertical-align: bottom; background-color: White">
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<tr id="xdx_403_eus-gaap--LiabilitiesAndStockholdersEquity_iTI_mtCzRbX_zlFml0yjNOzd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; width: 24px; font-size: 10pt; text-indent: 0"><span id="xdx_F03_zVnntjDda98i" style="font: 10pt Times New Roman, Times, Serif">(1)</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span id="xdx_F1E_zggXnpsWG4Sa" style="font: 10pt Times New Roman, Times, Serif; background-color: white"><ix:footnote id="Footnote000105" xml:lang="en-US">This number included up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).</ix:footnote></span></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-top: 0; margin-bottom: 0; text-align: center">The accompanying notes
are an integral part of these unaudited condensed financial statements.</p>

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

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

<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
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    <!-- Field: /Page -->

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_004"></span>UNAUDITED CONDENSED STATEMENTS
OF OPERATIONS</b></p>

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

<table cellpadding="0" cellspacing="0" id="xdx_306_113_zSjqsjS2JMN8" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (Unaudited)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49D_20210701__20210930_zuQX1ysFP4Y2" 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_491_20210208__20210930_zNfQPohQXG27" 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>
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<tr id="xdx_40F_eus-gaap--OperatingExpenses_msNILztFr_zKAgcz4t0Vy4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 56%; text-align: left">Formation and operating cost</td><td style="width: 8%; padding-bottom: 1pt">&#160;</td>
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<tr id="xdx_408_eus-gaap--NetIncomeLoss_iT_mtNILztFr_zPXpJ1ewy5a2" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">Net loss</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:NetIncomeLoss" contextRef="From2021-07-012021-09-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,348</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td>
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<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_406_eus-gaap--WeightedAverageNumberOfShareOutstandingBasicAndDiluted_zlSeYWgEBGv1" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold"><span style="font: 10pt Times New Roman, Times, Serif"><b>Basic and diluted weighted average shares outstanding<sup id="xdx_F49_zirj5uiopZth">(1)</sup></b></span></td><td style="padding-bottom: 2.5pt">&#160;</td>
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<tr id="xdx_409_eus-gaap--EarningsPerShareBasicAndDiluted_zcnZpr81STS6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Basic and diluted net loss per common share</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; width: 24px; font-size: 10pt; text-indent: 0"><span id="xdx_F08_zvwT47vGGd2g" style="font: 10pt Times New Roman, Times, Serif">(1)</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span id="xdx_F1F_zNN6jC3x8tn" style="font: 10pt Times New Roman, Times, Serif; background-color: white"><ix:footnote id="Footnote000118" xml:lang="en-US">This number excluded up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).</ix:footnote></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-top: 0; margin-bottom: 0; text-align: center">The accompanying notes
are an integral part of these unaudited condensed financial statements.</p>

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

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

<!-- Field: Page; Sequence: 5; Value: 1 -->
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    <!-- Field: /Page -->

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_005"></span>UNAUDITED CONDENSED STATEMENT
OF CHANGES IN STOCKHOLDER&#8217;S EQUITY</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>FOR THE PERIOD FROM FEBRUARY 8, 2021 (INCEPTION)
THROUGH SEPTEMBER 30, 2021</b></p>

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

<table cellpadding="0" cellspacing="0" id="xdx_301_114_zSqzEOSP5Ss7" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENT OF CHANGES IN STOCKHOLDER&apos;S EQUITY (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: 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_4B3_us-gaap--StatementEquityComponentsAxis_custom--ClassBCommonStockMember_zt3ESg8eTPck" 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_4BE_us-gaap--StatementEquityComponentsAxis_us-gaap--AdditionalPaidInCapitalMember_zXX03XHHxaki" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td id="xdx_4B1_zxdeCacQarj8" 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">&#160;</td>
    <td colspan="7" style="font-weight: bold; text-align: center">Class B</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Additional</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">Total</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
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    <td colspan="3" style="font-weight: bold; text-align: center">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">Stockholder&#8217;s</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
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<tr id="xdx_432_c20210208__20210630_eus-gaap--StockholdersEquity_iS_zIuzHh7tOD28" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Balance as of February 8, 2021 (inception)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98D_eus-gaap--SharesOutstanding_iS_c20210208__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_fKDEp_zhmTVasrIQTg" title="Beginning Balance, Shares" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0125">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0121">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<tr id="xdx_404_eus-gaap--StockIssuedDuringPeriodValueOther_i_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="width: 35%; text-align: left">Issuance of Class B common stock to Sponsor</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesOther_c20210208__20210630__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_fKDEp_zV5uBA3GasXc" title="Issuance of Class B ordinary shares to Sponsor, Shares" style="width: 9%; text-align: right"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-02-082021-06-30_custom_ClassBCommonStockMember" id="Fact000132" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,889,149</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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<tr id="xdx_404_eus-gaap--ProfitLoss_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: xdx2ixbrl0134">&#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: xdx2ixbrl0135">&#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="From2021-02-082021-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">442</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
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<tr id="xdx_43A_c20210701__20210930_eus-gaap--StockholdersEquity_iS_zpsqQqBxFM2d" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold">Balance as of June 30, 2021 (unaudited)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_986_eus-gaap--SharesOutstanding_iS_c20210701__20210930__us-gaap--StatementEquityComponentsAxis__custom--ClassBCommonStockMember_fKDEp_zO8X8t0GH8Y6" title="Beginning Balance, Shares" style="text-align: right"><ix:nonFraction name="us-gaap:SharesOutstanding" contextRef="AsOf2021-06-30_custom_ClassBCommonStockMember" id="Fact000144" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,889,149</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">$</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-06-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">442</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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<tr id="xdx_400_eus-gaap--ProfitLoss_z7m9pvsKmdsd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: xdx2ixbrl0146">&#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: xdx2ixbrl0147">&#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="From2021-07-012021-09-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,348</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="From2021-07-012021-09-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,348</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr id="xdx_439_c20210701__20210930_eus-gaap--StockholdersEquity_iE_zpvFW0ieqv49" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold">Balance as of September 30, 2021 (unaudited)</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-09-30_custom_ClassBCommonStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">289</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-09-30_us-gaap_AdditionalPaidInCapitalMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,693</ix:nonFraction></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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-09-30_us-gaap_RetainedEarningsMember" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,790</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,192</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: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; width: 24px; font-size: 10pt; text-indent: 0"><span id="xdx_F0D_zlGZzpx485zb" style="font: 10pt Times New Roman, Times, Serif">(1)</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span id="xdx_F1A_zwROR9vQF8sb" style="font: 10pt Times New Roman, Times, Serif; background-color: white"><ix:footnote id="Footnote000157" xml:lang="en-US">This number included up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).</ix:footnote></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-top: 0; margin-bottom: 0; text-align: center">The accompanying notes
are an integral part of these unaudited condensed financial statements.</p>

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

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

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page -->

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_006"></span>UNAUDITED CONDENSED STATEMENT
OF CASH FLOWS</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>FOR THE PERIOD FROM FEBRUARY 8, 2021 (INCEPTION)
THROUGH SEPTEMBER 30, 2021</b></p>

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

<table cellpadding="0" cellspacing="0" id="xdx_30F_112_zMcjUzOBr1Ce" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENT OF CASH FLOWS (Unaudited)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-top: 0; padding-right: 0; padding-bottom: 0; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49A_20210208__20210930_zGnX2AlfSfPg" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_zT5768rrv4H6" 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></tr>
<tr id="xdx_401_eus-gaap--NetIncomeLoss_i01_maNCPBUz7Yd_zTYC5e8Z7u43" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; width: 70%; text-align: left">Net loss</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:NetIncomeLoss" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,790</ix:nonFraction></td><td style="width: 1%; text-align: left">)</td></tr>
<tr id="xdx_40B_eus-gaap--AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_iB_ztkGME4zSY91" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Adjustments to reconcile net loss to net cash provided by 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></tr>
<tr id="xdx_407_ecustom--FormationAndOperatingCostsPaidByPromissoryNoteRelatedParty_i01_maNCPBUz7Yd_zqp4XUNmRrW1" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 30pt; text-align: left">Formation and operating costs paid by Promissory note &#8211; related party</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="TGVC:FormationAndOperatingCostsPaidByPromissoryNoteRelatedParty" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,854</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr id="xdx_402_eus-gaap--NetCashProvidedByUsedInOperatingActivities_mtNCPBUz7Yd_maCCERCzP2Q_zmUlA9Ne5JSi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 30pt; font-weight: bold; text-align: left">Net cash used in operating activities</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:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,936</ix:nonFraction></td><td style="padding-bottom: 1pt; 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></tr>
<tr id="xdx_40F_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zQ1Q9GXg2Nmh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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></tr>
<tr id="xdx_40D_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_i01_maNCPBUzbWQ_zuW1DYtKK91c" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Proceeds from issuance of shares to initial stockholders</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,982</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_400_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_i01_maNCPBUzbWQ_zsTGJ2dnZfWk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 20pt; text-align: left">Proceeds from issuance of promissory note to related party</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:RepaymentOfNotesReceivableFromRelatedParties" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
<tr id="xdx_407_ecustom--PaymentOfDeferredOfferingCosts_i01N_di_msNCPBUzbWQ_ztE475WCA8Q2" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 20pt; text-align: left">Payment of deferred offering costs</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="TGVC:PaymentOfDeferredOfferingCosts" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">46,359</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr id="xdx_402_eus-gaap--NetCashProvidedByUsedInFinancingActivities_iT_mtNCPBUzbWQ_maCCERCzP2Q_zNve5hLa4wCj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 30pt; font-weight: bold; text-align: left">Net cash provided by financing activities</td><td style="padding-bottom: 1pt">&#160;</td>
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<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></tr>
<tr id="xdx_40B_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_iT_mtCCERCzP2Q_zKqrV6KfxQFg" 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>
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<tr id="xdx_403_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iS_d0_zsLw0zLdBSm6" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold">Cash, beginning of the period</td><td style="padding-bottom: 1pt">&#160;</td>
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<tr id="xdx_406_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iE_zmN4vr773ink" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold">Cash, end of the period</td><td style="padding-bottom: 2.5pt">&#160;</td>
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<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></tr>
<tr id="xdx_401_eus-gaap--CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_iB_zTTzAbLduFmi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Supplemental disclosure of non-cash 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></tr>
<tr id="xdx_402_ecustom--DeferredOfferingCostsPaidBySponsorUnderPromissoryNote_i01_zSn0Ilwogxf4" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0 0 0 30pt; text-align: left">Deferred offering costs paid by Sponsor under the promissory note</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="TGVC:DeferredOfferingCostsPaidBySponsorUnderPromissoryNote" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">122,836</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
<tr id="xdx_406_ecustom--DeferredOfferingCostsIncludedInAccruedOfferingCostsAndExpenses_i01_zZiFtF6PTlM" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0 0 0 30pt; text-align: left">Deferred offering costs included in accrued offering costs and expenses</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="TGVC:DeferredOfferingCostsIncludedInAccruedOfferingCostsAndExpenses" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">107,896</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: justify">&#160;</p>

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

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

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

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    <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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page -->

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_007"></span>NOTES TO UNAUDITED CONDENSED
FINANCIAL STATEMENTS</b></p>

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

<ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:NatureOfOperations"><p id="xdx_80D_eus-gaap--NatureOfOperations_z5M4yx0Dgc23" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 1 &#8212;<span id="xdx_829_zITzzPdtJIkl"> Organization
and Business Operations</span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">TG Venture
Acquisition Corp. (the &#8220;Company&#8221;) is a newly organized, blank check company incorporated as a Delaware corporation on
February 8, 2021, 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;).</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">As of
September 30, 2021, the Company had not commenced any operations. All activity for the period from February 8, 2021 (inception)
through September 30, 2021 relates to the Company&#8217;s formation and the initial public offering described below. The Company will
not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company
will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the
Initial Public Offering (the &#8220;IPO&#8221;). The Company has selected December 31 as its fiscal year end.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The Company&#8217;s
sponsor is Tsangs Group Holdings Limited (the &#8220;Sponsor&#8221;). The registration statement for the Company&#8217;s IPO was declared
effective on November 2, 2021 (the &#8220;Effective Date&#8221;). On November 5, 2021, the Company consummated the IPO of <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zrr5WVf6rIV9" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span>
units (the &#8220;Units&#8221; and, with respect to the Common stock included in the Units being offered, the &#8220;Public Shares&#8221;
and the warrants included in the Units being offered, the &#8220;Public Warrants&#8221;) at $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zdnEXm2OIeEg" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span> per Unit, including the full exercise
of the underwriters&#8217; over-allotment of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zc4wVlFG9S4e" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,500,000</ix:nonFraction></span> Units, generating gross proceeds to the Company of $<span id="xdx_902_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zqd2xkjgaPXg" title="Gross proceeds"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">115,000,000</ix:nonFraction></span>, which is discussed
in Note 3.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">Simultaneously
with the consummation of the IPO, the Company consummated the private placement of <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210208__20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zGLHRi8qVFFi" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-02-082021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction></span> Warrants (the &#8220;Private Placement
Warrants&#8221;) at a price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_c20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zFovcCumnd8l" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction></span> per Private Placement Warrant to the Sponsor, generating gross proceeds to the Company of $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pp0p0_c20210208__20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_z4OZNym4tRz" title="Proceeds from private placement"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-02-082021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,500,000</ix:nonFraction></span>,
which is described in Note 4.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">Transaction
costs amounted to $<span id="xdx_90B_ecustom--TransactionCosts_c20210208__20210930_z83LFmS69VP9" title="Transaction costs"><ix:nonFraction name="TGVC:TransactionCosts" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,040,822</ix:nonFraction></span> consisting of $<span id="xdx_907_eus-gaap--UnderwritingIncomeLoss_c20210208__20210930_z9nfCZjZ8Eb1" title="Underwriting commissions"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,150,000</ix:nonFraction></span> of underwriting commissions, $<span id="xdx_902_ecustom--FairValueUnits_iI_c20210930_zqMMXnGTJ1hl" title="Fair value units"><ix:nonFraction name="TGVC:FairValueUnits" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">575,000</ix:nonFraction></span> of fair value of the Units issued to
ThinkEquity LLC (&#8220;ThinkEquity&#8221;), the representative of the underwriters (see Note 6), $<span id="xdx_90D_ecustom--FairValueUnits_iI_c20210930__srt--OwnershipAxis__custom--FounderSharesMember_zxCcTalQpdE4"><ix:nonFraction name="TGVC:FairValueUnits" contextRef="AsOf2021-09-30_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">579,110</ix:nonFraction></span> of fair value of the Founder
Shares (as defined in Note 5) sold to advisors in excess of proceeds (see Note 5), and $<span id="xdx_900_eus-gaap--OtherOwnershipInterestsOfferingCosts_iI_c20210930_zjiKmqJvlN9k" title="Other offering costs"><ix:nonFraction name="us-gaap:OtherOwnershipInterestsOfferingCosts" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">736,712</ix:nonFraction></span> of other offering costs, and was
all charged to stockholders&#8217; equity.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">While
the Company&#8217;s management has broad discretion with respect to the specific application of the cash held outside of the Trust Account,
substantially all of the net proceeds from the Initial Public Offering and the sale of the Private Placement Warrants, which are
placed in the Trust Account, are intended to be applied generally toward completing a Business Combination. The Company&#8217;s Business
Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value
of the assets held in the Trust Account (excluding the taxes payable on the interest earned on the Trust Account) at the time of
the signing a definitive agreement in connection with the initial Business Combination. However, the Company will only complete
a Business Combination if the post-Business Combination 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 of 1940, as amended (the &#8220;Investment Company Act&#8221;). There is no assurance
that the Company will be able to successfully effect a Business Combination.</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"><span style="background-color: white">Following
the closing of the IPO on November 5, 2021, $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zeJgLsb80ID" title="Proceeds from initial public offering"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">117,300,000</ix:nonFraction></span>
($10.20 per Unit) from the net proceeds of the sale of Units in the IPO and a portion of the proceeds of the sale of the Private
Placement Warrants were deposited into a trust account (the &#8220;Trust Account&#8221;) located in the United States with
Continental Stock Transfer &amp; Trust Company acting as trustee, and are invested only in U.S. government securities with a
maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act
which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the
Trust Account that may be released to the Company to pay its franchise and income tax obligations (less up to $<span id="xdx_90D_eus-gaap--InterestAndDebtExpense_c20211101__20211105_zCU1AJ8Sy2tk" title="Interest expenes"><ix:nonFraction name="us-gaap:InterestAndDebtExpense" contextRef="From2021-11-012021-11-05" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span>
of interest to pay dissolution expenses), the proceeds from the IPO and the sale of the Private Placement Warrants will not be
released from the Trust Account until the earliest of: (a) the completion of the initial Business Combination; (b) the redemption of
any Public Shares properly submitted in connection with a stockholder vote to amend the Company&#8217;s amended and restated
certificate of incorporation: (i) to modify the substance or timing of the Company&#8217;s obligation to allow redemption in
connection with the initial Business Combination or certain amendments to the Company&#8217;s charter prior thereto or to redeem
100% of the Public Shares if the Company does not complete the initial Business Combination within 18 months from the closing of
this offering May 5, 2023; or (ii) with respect to any other provisi</span>on relating to stockholders&#8217; rights or pre-Business
Combination activity; and (c) the redemption of 100% of the Public Shares if the Company is unable to complete the initial Business
Combination within the required time frame (subject to the requirements of applicable law).</p>

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

<ix:exclude><p id="xdx_23B_zV9dRgbwheba" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 8; Value: 1 -->
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    <div id="xdx_231_zJOgKx7sxwC4" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_232_zWQmXr5i8oA1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Public stockholders have the opportunity to
redeem all or a portion of their Public Shares upon the completion of the initial Business Combinatio<span style="background-color: white">n
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days
prior to voting on the initial Business Combination, including interest earned on the funds held in the Trust Account and not
previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding Public Shares,
subject to the limitations described herein. The amount in the Trust Account is initially anticipated to be $10.20 per public
share.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The Company
will only proceed with a Business Combination if the Company has net tangible assets of at least $<span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pp0p0_c20210930_zaV5fXxvCWF2" title="Net tangible assets"><ix:nonFraction name="us-gaap:FiniteLivedIntangibleAssetsNet" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,000,001</ix:nonFraction></span> immediately prior to
or upon the consummation of such Business Combination, and, if the Company seeks public stockholder approval, a majority of the
shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by applicable law or stock exchange
listing requirements and the Company does not decide to hold a stockholder vote for business or other reasons, the Company will,
pursuant to its amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of
the U.S. Securities and Exchange Commission (the &#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 applicable law or stock exchange listing
requirements, or the Company decides to obtain stockholder approval for business or other 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 Sponsor has agreed to vote its Founder Shares
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 without voting, and if they do vote, 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"><span style="background-color: white">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The
Company has 18 months from the closing of the IPO (the &#8220;Combination Period&#8221;) to complete the initial Business Combination.
If the Company is unable to complete the initial 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 no more than ten business days
thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account
and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided
by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders&#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 Comp</span>any&#8217;s remaining stockholders and the
board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above 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 warrants, which will expire worthless if the Company fails to complete the initial
Business Combination within the Combination Period.</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">The initial stockholders, Sponsor, executive
officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) to waive
their redemption rights with respect to their Founder Shares if we are forced to liquidate; (ii) to waive their redemption rights
with respect to their Founder Shares and Public Shares in connection with a stockholder vote to a<span style="background-color: white">pprove
an amendment to the Company&#8217;s amended and restated certificate of incorporation: (A) to modify the substance or timing of the
Company&#8217;s obligation to allow redemption in connection with the Company&#8217;s initial Business Combination or certain amendments to
the charter prior thereto or to redeem 100% of the Company&#8217;s Public Shares if the Company does not complete the initial Business
Combination within the Combined Period or (B) with respect to any other provision relating to stockholders&#8217; rights or pre-initial
Business Combination activity; and (iii) to waive their rights to liquidating distributions from the Trust Account with respect
to their Founder Shares if the Company fails to complete the initial Business Combination within the Combination Period, although
they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company
fails to complete the initial Business Combination within the Combination Period; (iv) the Founder Shares are shares of the Company&#8217;s
Class B common stock that will automatically convert into shares of the Company&#8217;s Class A common stock at the time of the initial
Business Combination, on a one-for-one basis, subject to adjustment as described herein, and (v) are entitled to registration
rights. If the Company submits the initial Business Combination to the public stockholders for a vote, the initial stockholders,
officers and directors have agreed pursuant to the letter agreement to vote any shares held by them and any Public Shares purchased
during or after this offering (including in open market and privately negotiated transactions) in favor of the initial Business
Combination.</span></p>

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

<ix:exclude><p id="xdx_237_z9mmfQlDBHH4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"></span></p></ix:exclude>

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    <div id="xdx_23C_zd4Dgwluzx11" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_235_zVFUN5OQ71Wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The
Sponsor has agreed that it will 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 entered into a written letter of
intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account
to below the lesser of (i) $10.20 per Public Share; and (ii) the actual amount per public share held in the Trust Account as of
the date of the liquidation of the Trust Account, if less than $10.20 per share due to reductions in the value of the trust assets,
less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business
who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable)
nor will it apply to any claims under the Company&#8217;s indemnity of the underwriters of the IPO against certain liabilities, including
liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve for such indemnification obligations,
nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe
that the Sponsor&#8217;s only assets are securities of the Company. Therefore, the Compa</span>ny cannot assent that the Sponsor would
be able to satisfy those obligations. None of the Company&#8217;s officers or directors will indemnify the Company for claims by third
parties including, without limitation, claims by vendors and prospective target businesses.</p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Liquidity and Capital Resources</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s liquidity needs up to September
30, 2021 had been satisfied through a payment from the Sponsor of $<span id="xdx_903_eus-gaap--RepaymentsOfLongtermLoansFromVendors_c20210208__20210930_zZUWODA2FdV2" title="Repayment of loan"><ix:nonFraction name="us-gaap:RepaymentsOfLongtermLoansFromVendors" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,000</ix:nonFraction></span> (see Note 5) for the Founder Shares and the loan under
an unsecured promissory note from the Sponsor of up to $<span id="xdx_90F_ecustom--UnsecuredPromissoryNote_c20210208__20210930_z9egq1vgc9tg" title="Unsecured promissory note"><ix:nonFraction name="TGVC:UnsecuredPromissoryNote" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">400,000</ix:nonFraction></span> (see Note 5). As of September 30, 2021, the Company had $<span id="xdx_904_eus-gaap--LoansPayableToBank_iI_c20210930_znFdMmmP2Ei8" title="Loans payable to bank"><ix:nonFraction name="us-gaap:LoansPayableToBank" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">76,687</ix:nonFraction></span>
in its operating bank account, and working capital deficit of $<span id="xdx_90E_ecustom--WorkingCapitalDeficit_c20210208__20210930_z1Fgr6fpEKJ8" title="Working capital deficit"><ix:nonFraction name="TGVC:WorkingCapitalDeficit" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">258,899</ix:nonFraction></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"><span style="font: 10pt Times New Roman, Times, Serif; color: black">After
consummation of the IPO on November 5, 2021, the Company had $<span id="xdx_908_eus-gaap--LoansPayableToBank_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNtab544gwQb"><ix:nonFraction name="us-gaap:LoansPayableToBank" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">688,590</ix:nonFraction></span> in its operating bank account, and working capital of $<span id="xdx_908_ecustom--WorkingCapitalDeficit_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTTmS6EmWppg"><ix:nonFraction name="TGVC:WorkingCapitalDeficit" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">976,890</ix:nonFraction></span>.
</span>In addition, in order to finance transaction costs in connection with a Business Combination, the Company&#8217;s 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 below (see Note 5). As of September 30, 2021, 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">&#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; color: black">Based
on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its
needs through the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the
Company will be using these funds 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">&#160;</p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Risks and Uncertainties</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management is currently evaluating the impact
of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on
the Company&#8217;s financial position and/or search for a target company, the specific impact is not readily determinable as of the
date of the financial statements. The financial statements do not include any adjustments that might result from the outcome of
this uncertainty.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_804_eus-gaap--SignificantAccountingPoliciesTextBlock_znyKUl7ef7Ie" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 2 &#8212; <span id="xdx_823_zORjlYeDjIGj">Significant
Accounting Policies</span></span></p>

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

<ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock"><p id="xdx_84F_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zbsNRyUGanK8" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86D_z0MtJobJ5zDg">Basis of Presentation</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X 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 the information and footnotes necessary for a complete presentation of financial position, results of operations,
or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results
and cash flows for the periods presented.</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">The accompanying unaudited condensed financial
statements should be read in conjunction with the Company&#8217;s Prospectus, which contains the initial audited financial statements
and notes thereto for the period from February 8, 2021 (inception) to April 12, 2021 as filed with the SEC on November 3, 2021,
and the Company&#8217;s report on Form 8-K, which contains the Company&#8217;s audited balance sheet and notes thereto as of November 5, 2021,
as filed with the SEC on November 16, 2021. The interim results for the three months ended September 30, 2021 and for the period
from February 8, 2021 (inception) through September 30, 2021 are not necessarily indicative of the results to be expected for the
year ending December 31, 2021 or for any future interim periods.</p>

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

<ix:exclude><p id="xdx_231_zo0B1KXTbbbh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 10; Value: 1 -->
    <div id="xdx_238_zQ0TMsRRGF5i" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_230_zBu5CTpB7VZ2" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_238_zwATVnbbVj37" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="TGVC:EmergingGrowthCompanyStatusPolicyTextBlock"><p id="xdx_84F_ecustom--EmergingGrowthCompanyStatusPolicyTextBlock_zBZqkmUAYku9" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_863_zTF206xGjh6g">Emerging Growth Company Status</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is an &#8220;emerging growth
company,&#8221; as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012,
(the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are
applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to
comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and approval of any golden parachute payments not previously approved.</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">Further, Section102 (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 statement 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.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_844_eus-gaap--UseOfEstimates_zxQb6bg331G9" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86B_zEPzu6DWcmU">Use of Estimates</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the financial statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Making estimates requires
management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition,
situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could
differ significantly from those estimates. The significant accounting estimate reflected in the Company&#8217;s financial statements
includes, but is not limited to, valuation of Founder Shares.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_845_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zpG50PLHv0Tk" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86F_zchQdgKU5k45">Cash and Cash Equivalents</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company&#160;had cash of $<span id="xdx_909_eus-gaap--Cash_iI_c20210930_zW5v9AaoDr" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">76,687</ix:nonFraction></span> as of September 30, 2021. The Company did <span id="xdx_909_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20210930_zAwVMCQUsE9i" title="Cash equivalents"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2021-09-30" format="ixt-sec:numwordsen" decimals="0" unitRef="USD">no</ix:nonFraction></span>t have any cash equivalents
as of September 30, 2021.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="TGVC:DeferredOfferingCostsPolicyTextBlock"><p id="xdx_847_ecustom--DeferredOfferingCostsPolicyTextBlock_zkppEJ4jeyAd" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86A_zGGN3cQFPQb">Deferred Offering Costs</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company complies with the
requirements of the ASC 340-10-S99-1. Deferred offering costs consists of legal, accounting, underwriting fees and other
costs incurred through the balance sheet date that are directly related to the Public Offering. Offering costs are allocated
to the separable financial instruments to be issued in the IPO based on a relative fair value basis, compared to total
proceeds received. Upon closing of the IPO on November 5, 2021, offering costs associated with the Class A common stock and
the warrants were charged to stockholders&#8217; equity. As of September 30, 2021, total deferred offering costs were
$<span id="xdx_901_eus-gaap--DeferredOfferingCosts_iI_c20210930_z8oQfiktDfr7" title="Deferred offering costs"><ix:nonFraction name="us-gaap:DeferredOfferingCosts" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">277,091</ix:nonFraction></span>, and upon the IPO on November 5, 2021  amounted to $<span id="xdx_900_ecustom--AllocatedOfStockholdersEquity_iI_pp0p0_c20211105__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zp7qjnoSFDze" title="Allocated of stockholders equity"><ix:nonFraction name="TGVC:AllocatedOfStockholdersEquity" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,040,822</ix:nonFraction></span>,
all of which was allocated to stockholders&#8217; equity.</p>

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

<ix:exclude><p id="xdx_237_zwzJyAOzXwVi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

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    <div id="xdx_230_zmkj5OLb2RK6" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23F_zevKz3d0yCT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:FairValueOfFinancialInstrumentsPolicy"><p id="xdx_84C_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zlk5RtuEHCs8" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86C_zHf6WwLyFHk2">Fair Value of Financial Instruments</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of the Company&#8217;s assets and
liabilities, which qualify as financial instruments under the FASB ASC 820, &#8220;Fair Value Measurements and Disclosures,&#8221;
approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:FairValueMeasurementPolicyPolicyTextBlock"><p id="xdx_84A_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zvqL0oFeYHG9" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_864_z5tXtqVyEOoj">Fair Value Measurements</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fair value is defined as the price that would
be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at
the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair
value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities
(Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:</p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; width: 18pt; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Level
1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Level
2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted
prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not
active; and</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0">&#160;</td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0">&#160;</td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Level
3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions,
such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are
unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the
fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy
based on the lowest level input that is significant to the fair value measurement.</span></td></tr>
</table>



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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="TGVC:CommonstockSubjectToPossibleRedemptionPolicyTextBlock"><p id="xdx_841_ecustom--CommonstockSubjectToPossibleRedemptionPolicyTextBlock_zhG1qcOPKU36" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86A_z6nIiOUXPWM5">Common stock Subject to Possible Redemption</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: #212529">The
Company will account for its common stock subject to possible redemption in accordance with the guidance in FASB ASC Topic 480
&#8220;Distinguishing Liabilities from Equity.&#8221; Common stock subject to mandatory redemption (if any) is classified as a liability
instrument and measured at fair value. Conditionally redeemable common stock (including shares of common stock that feature redemption
rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely
within the Company&#8217;s control) is classified as temporary equity. At all other times, common stock is classified as stockholders&#8217;
equity. The Company&#8217;s Common stock will feature certain redemption rights that are considered to be outside of the Company&#8217;s control
and will be subject to the occurrence of uncertain future events. Accordingly, common stock subject to possible redemption will
be presented at redemption value as temporary equity, outside of the stockholders&#8217; equity section of the Company&#8217;s condensed balance
sheet</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; text-indent: 0.25in">We recognize changes
in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected
by charges against additional paid in capital and accumulated deficit.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:DerivativesReportingOfDerivativeActivity"><p id="xdx_84C_eus-gaap--DerivativesReportingOfDerivativeActivity_ztJhrKJ1yXEf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_861_znvvrRmQ8hha"><b><i>Derivative
                                            Financial Instruments</i></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">The Company evaluates its financial instruments
to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with FASB
ASC Topic 815, &#8220;Derivatives and Hedging&#8221; (&#8220;ASC 815&#8221;). Derivative instruments are initially recorded at fair
value on the grant date and re-valued at each reporting date, with changes in the fair value reported in the statements of operations.
Derivative assets and liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash
settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:StandardProductWarrantyPolicy"><p id="xdx_841_eus-gaap--StandardProductWarrantyPolicy_zaGqVGcu2tLk" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_869_zk0IZ9gax6w2">Warrants</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 applicable authoritative
guidance in FASB ASC 480, &#8220;Distinguishing Liabilities from Equity&#8221; (&#8220;ASC 480&#8221;) and 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&#8217;s own common shares and whether the warrant holders could potentially require &#8220;net cash settlement&#8221;
in a circumstance outside of the Company&#8217;s control, among other conditions for equity classification. This assessment is conducted at the time 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">&#160;</p>

<ix:exclude><p id="xdx_23B_zJtpbnClqbVa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 12; Value: 1 -->
    <div id="xdx_23A_zLAfbvwmkbCf" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_232_z6au1lyzD4Tj" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_231_zukx98QCOFZi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 of the criteria for equity classification, the warrants
are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company
accounts for&#160;the <span id="xdx_905_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzmXoqN8qMkd"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_custom_PublicWarrantsMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span> Public Warrants (Note 3) and <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zyI8tXobq9Wg"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_custom_PrivatePlacementWarrantsMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction></span> Private Placement Warrants (Note 4)  as equity-classified instruments.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_84F_eus-gaap--EarningsPerSharePolicyTextBlock_znAPuzqS3kAl" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_860_zdDX6aVL5hFe">Net Loss Per Common Share</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company complies with the accounting and
disclosure requirements of FASB ASC Topic 260, &#8220;Earnings Per Share.&#8221; Net loss per common share is computed by dividing
net loss by the weighted average number of shares of common stock outstanding during the period, excluding common stock subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of<span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation_c20210208__20210930__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zU8ijyWpS3Z3" title="Forfeiture shares"> <ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation" contextRef="From2021-02-082021-09-30_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">375,000</ix:nonFraction></span> shares of common stock that were
subject to forfeiture if the over-allotment option was not exercised by the underwriter. At September 30, 2021, the Company did
not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and
then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share
for the periods presented.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock"><p id="xdx_846_eus-gaap--IncomeTaxPolicyTextBlock_zX8gGoPvPst" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_866_zb3fvlo1SaCh">Income Taxes</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company accounts
for income taxes under FASB ASC 740, &#8220;Income Taxes&#8221; (&#8220;ASC 740&#8221;). ASC 740 requires the recognition of deferred
tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets
and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally
requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets
will not be realized.</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">ASC 740 also clarifies the accounting for
uncertainty in income taxes recognized in an enterprise&#8217;s financial statements and prescribes a recognition threshold and measurement
process for financial statement recognition and measurement of a tax position 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.
ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure
and transition. 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 September 30, 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.</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">The Company has identified the United States
as its only &#8220;major&#8221; tax jurisdiction. The Company is subject to income tax examinations by major taxing authorities
since inception. These examinations may include questioning the timing and amount of deductions, the nexus of income among various
tax jurisdictions and compliance with federal and state tax laws. The Company&#8217;s management does not expect that the total amount
of unrecognized tax benefits will materially change over the next twelve months. The provision for income taxes was deemed to
be immaterial for the three months ended September 30, 2021 and for the period from February 8, 2021(inception) through September
30, 2021.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:ConcentrationRiskCreditRisk"><p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zZfVDkxpd8Ij" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_86E_zTxF6eWpjCZ8">Concentration of Credit Risk</span></i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that potentially subject
the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the
Federal Depository Insurance Corporation coverage of $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20210930_zbN0SNcfU8j5" title="Federal depository insurance corporation coverage"><ix:nonFraction name="us-gaap:CashFDICInsuredAmount" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>. At September 30, 2021, the Company had not experienced losses on
this account.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zpA7oHAbP6Md" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_867_zxxBhHZpslC1">Recent Accounting Pronouncements</span></i></b></p>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>&#160;</i></b></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 with Conversion and Other Options&#8221; (Subtopic 470-20) and &#8220;Derivatives and Hedging-Contracts in Entity&#8217;s Own
Equity&#8221; (Subtopic 815-40) (&#8220;ASU 2020-06&#8221;), which simplifies the accounting for convertible instruments. The guidance
removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments.
ASU 2020-06 allows for a modified or full retrospective method of transition. This update is effective for fiscal years beginning
after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU No.
2020-06 upon its incorporation. The impact to our financial statements was not material.</p>

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

<ix:exclude><p id="xdx_23A_zRyZNbZlUdpa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 13; Value: 1 -->
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    <div id="xdx_23A_z1l4HyQrpyh4" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23B_zcrJ8Ny55SEc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

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

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

</ix:nonNumeric></ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="TGVC:PublicOfferingTextBlock"><p id="xdx_803_ecustom--PublicOfferingTextBlock_zoAMEZXZLE8l" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 3 &#8212; <span id="xdx_822_zj3q9Ytw7HQg">Initial
Public Offering</span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On November 5, 2021,
the Company sold <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zzSM0rez8V76" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span> Units, including the full exercise of the underwriters&#8217; over-allotment option to purchase <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_za4peu4O7E1b" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,500,000</ix:nonFraction></span>
Units, at a purchase price of $<span id="xdx_904_eus-gaap--SaleOfStockPricePerShare_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zNxO8ICsMqd7" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction> </span>per Unit. Each unit consists of one Public Share, an aggregate of 11,500,000 Public Shares,
and one redeemable Public Warrant, an aggregate of 11,500,000 Public Warrants. Each Public Warrant entitles the holder to purchase
one share of Class A common stock at an exercise price of $11.50 per share, subject to adjustment (see Note 7).</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="TGVC:PrivatePlacementTextBlock"><p id="xdx_805_ecustom--PrivatePlacementTextBlock_zr9xUQCSImA6" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 4 &#8212; <span id="xdx_824_zwMz1UmTCBuc">Private
Placement</span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Simultaneously with the closing of the IPO,
the Sponsor purchased an aggregate of <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zviUxgmuNhCi" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_custom_PrivatePlacementWarrantsMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction></span> Private Placement Warrants at a price of $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zRB0n5yIlcN6" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction> </span>per warrant in a private placement,
for an aggregate purchase price of $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pp0p0_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zqeISrreCvn2" title="Proceeds from private placement"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-11-012021-11-05_custom_PrivatePlacementWarrantsMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,500,000</ix:nonFraction></span>. Each Private Placement Warrant entitles the holder thereof to purchase one share
of the Company&#8217;s Class A common stock at a price of $11.50 per share, subject to adjustments (see Note 7), and will expire worthless
if the Company does not complete the initial Business Combination.</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">The Private Placement Warrants are identical
to the Public Warrants except that they will not be transferable, assignable or saleable until 30 days after the Business Combination
except to certain permitted transferees.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_80E_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zvnsArnXKPvl" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 5 &#8212; <span id="xdx_82A_z6AtuDhZpnF1">Related
Party Transactions</span></span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Founder Shares</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2021, the Sponsor and other founders (the
&#8220;Initial Stockholder&#8221;) paid $<span id="xdx_90D_ecustom--ExchangeOfSharesValue_pp0p0_c20210208__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__srt--OwnershipAxis__custom--OtherFounderMember_zhWD6DOQidR6" title="Exchange of shares value"><ix:nonFraction name="TGVC:ExchangeOfSharesValue" contextRef="From2021-02-082021-09-30_custom_SponsorMember_custom_OtherFounderMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,982</ix:nonFraction></span> in exchange for <span id="xdx_901_ecustom--NumberOfSharesExchange_c20210208__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember__srt--OwnershipAxis__custom--OtherFounderMember_zoAXPaKtmIja" title="Number of shares exchange"><ix:nonFraction name="TGVC:NumberOfSharesExchange" contextRef="From2021-02-082021-09-30_custom_SponsorMember_custom_OtherFounderMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,889,149</ix:nonFraction></span> shares of Common stock (the &#8220;Founder Shares&#8221;).
The number of Founder Shares outstanding was determined based on the expectation that the total size of the IPO would be a maximum
of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_pdd" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span> Units if the underwriter&#8217;s over-allotment option was exercised in full, and therefore that such Founder Shares represent
20% of the outstanding shares after the IPO.</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">Two of the initial stockholders, TriPoint
Capital Management, LLC (&#8220;TriPoint&#8221;), a Delaware limited liability company, and HFI Limited (&#8220;HFI&#8221;), a Cayman
Islands company, serve in an advisory capacity to the Sponsor with the Company being a primary beneficiary, and their participation
in the purchase of Founder Shares is considered as part of their compensation as advisors. Accordingly, upon consummation of the
IPO on November 5, 2021, the Company recorded the excess fair value above the purchase price of the <span id="xdx_900_ecustom--PurchasePrice_c20211101__20211105__srt--OwnershipAxis__custom--FounderSharesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zP7s7cgFaAke" title="Purchase price"><ix:nonFraction name="TGVC:PurchasePrice" contextRef="From2021-11-012021-11-05_custom_FounderSharesMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">300,000</ix:nonFraction></span> Founder Shares purchased
by TriPoint and HFI as an offering cost of $<span id="xdx_907_ecustom--FairValueUnits_iI_pp0p0_c20211105__srt--OwnershipAxis__custom--FounderSharesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z42FAYIfvlU2" title="Fair value units"><ix:nonFraction name="TGVC:FairValueUnits" contextRef="AsOf2021-11-05_custom_FounderSharesMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">579,110</ix:nonFraction></span>, which were charged to stockholders&#8217; equity. </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">On November 2, 2021, the Sponsor entered into
an Agreement with the <span id="xdx_903_ecustom--SponsorAgreementDescription_c20210208__20210930_z4Rs6WoJvCuj" title="Sponsor Agreement Description"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="TGVC:SponsorAgreementDescription">Company&#8217;s three independent directors under which they were each assigned 30,000 of the Founder Shares the
Sponsor owned, as an inducement to serve as directors of the Company, for which they paid $0.009 per share, or an aggregate of
$810. The shares are vested upon the consummation of the IPO. The fair value of the 90,000 shares at November 2, 2021, was estimated
using a Monte Carlo simulation model to be approximately $706,000 in the aggregate, which the Company will record as director
compensation expense (see Note 8).</ix:nonNumeric></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">The Initial Stockholders have agreed not to
transfer, assign, or sell any of their Founder Shares until the earlier to occur of: (A) six months after the completion of the
initial Business Combination or (B) subsequent to the initial Business Combination, (x) if the last 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 the initial Business
Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization 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, except with respect to permitted transferees.</p>

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

<ix:exclude><p id="xdx_230_z5GzbpBWSJqe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 14; Value: 1 -->
    <div id="xdx_23C_zlVROogi9VD6" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_234_zpYuxYaIUsuj" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_234_zSsnG1t4sqHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Sponsor issued a promissory note allowing
the Company to borrow up to $<span id="xdx_902_ecustom--UnsecuredPromissoryNote_c20210208__20210930_pp0p0" title="Unsecured promissory note"><ix:nonFraction name="TGVC:UnsecuredPromissoryNote" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">400,000</ix:nonFraction></span> under an unsecured promissory note to be used for a portion of the expenses of the IPO. Through
September 30, 2021, the Company had borrowed $<span id="xdx_90C_eus-gaap--DepositsPaidForSecuritiesBorrowedAtCarryingValue_iI_c20210930_zFdMy193pFI9" title="Borrowed amount"><ix:nonFraction name="us-gaap:DepositsPaidForSecuritiesBorrowedAtCarryingValue" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">227,690</ix:nonFraction></span> under the promissory note. On November 5, 2021, the Company fully repaid
the outstanding promissory note balance of $<span id="xdx_907_ecustom--RepaymentOfOutstandingAmount_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zmbzKLZAZmm" title="Repayment of outstanding amount"><ix:nonFraction name="TGVC:RepaymentOfOutstandingAmount" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">227,690</ix:nonFraction></span> (see Note 8).</p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Working Capital Loans</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to finance transaction costs in connection
with an intended initial business combination, the Sponsor, an affiliate of the Sponsor or certain of the Company&#8217;s officers and
directors may, but is not obligated to, loan the Company funds as may be required (the &#8220;Working Capital Loans&#8221;). If
the Company completes an initial Business Combination, the Company would repay such loaned amounts out of the proceeds of the
Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside the Trust Account.
In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside
the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts.
Up to $<span id="xdx_901_eus-gaap--ConvertibleDebt_iI_c20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_z1tQeKq5lh9l" title="Convertible loans"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,000,000</ix:nonFraction></span> of such loans may be convertible into Private Placement Warrants of the post Business Combination entity, at
a price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_zZAI3DUbZWX6" title="Warrant price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction></span> per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants issued
to the Sponsor. As of September 30, 2021, the Company had <span id="xdx_906_ecustom--WorkingCapitalLoans_do_c20210208__20210930_zSlp4xZEeqgc" title="Working capital loans"><ix:nonFraction name="TGVC:WorkingCapitalLoans" contextRef="From2021-02-08to2021-09-30" format="ixt-sec:numwordsen" decimals="0" unitRef="USD">no</ix:nonFraction></span> borrowings under the Working Capital Loans.</p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Administrative Service Fee</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company entered
into an administrative services agreement on November 2, 2021, pursuant to which the Company will pay an affiliate of the Sponsor,
$445 per month for office space, utilities and secretarial and administrative support. Upon completion of the initial Business
Combination or the Company&#8217;s liquidation, the Company will cease paying these monthly fees.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_80C_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zI2mPg9ChXq2" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 6 &#8212; <span id="xdx_823_zZWfUWaECLNl">Commitments
and Contingencies</span></span></p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Registration Rights</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of the Founder Shares, Private
Placement Warrants and warrants 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 and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights
agreement to be signed prior to or on the Effective Date of the registration statement of which this prospectus forms a part,
requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to the
Class A common stock). The holders of these securities will be entitled to make up to three demands, excluding short form demands,
that the Company registers such securities. In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with
respect to registration statements filed subsequent to the Company&#8217;s completion of the initial Business Combination.</p>

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

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Underwriting Agreement</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 5, 2021, the Company paid a
cash underwriting discount of 1.0% per Unit, or $<span id="xdx_909_ecustom--PaymentOfUnderwritingCommissions_pp0p0_c20211101__20211105__us-gaap--TransactionTypeAxis__custom--UnderwritingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zf5KF7d8lige" title="Payment of underwriting commissions"><ix:nonFraction name="TGVC:PaymentOfUnderwritingCommissions" contextRef="From2021-11-012021-11-05_custom_UnderwritingAgreementMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,150,000</ix:nonFraction></span>. In addition, the underwriting agreement provides the option to purchase up to <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--TransactionTypeAxis__custom--UnderwritingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqHA9xCaYhBi"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_OverAllotmentOptionMember_custom_UnderwritingAgreementMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,500,000</ix:nonFraction> </span>additional Units to cover any over-allotments,
if any, at the Proposed Public Offering price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_c20211105__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--TransactionTypeAxis__custom--UnderwritingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxj5zEQQF3e3"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-11-05_us-gaap_IPOMember_custom_UnderwritingAgreementMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction> </span>less the underwriting discount of 1%. The over-allotment was exercised
in full upon the IPO on November 5, 2021.</p>

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

<ix:exclude><p id="xdx_237_zzJs4wDZ5g6a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 15; Value: 1 -->
    <div id="xdx_234_z90pQDe9GlUi" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_231_zQrZGzknNrNk" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_232_zg3zSs4xXuw9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0"><b><i>Representative Units</i></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Simultaneous with the closing of the IPO,
the Company issued to ThinkEquity, as part of representative compensation upon the consummation of the IPO, 57,500 Representative
Units (the &#8220;Representative Units&#8221;). The Representative Units consist of one share of Class A common stock and one redeemable
warrant to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment. The Representative
Units are identical to the Units except, and so long as the Representative Units are held by ThinkEquity (and/or its designees)
or its permitted transferees, they (i) may not (including the Class A common stock issuable upon exercise of the warrants), subject
to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial
Business Combination, (ii) may be exercised by the holders on a cashless basis, (iii) will be entitled to registration rights
and (iv) will not be exercisable more than five years from the Effective Date of the registration statement of which this prospectus
forms a part in accordance with FINRA Rule 5110(f)(2)(G)(i). ThinkEquity has agreed (i) to waive its redemption rights with respect
to the warrants underlying the Representative Units in connection with the completion of the initial Business Combination and
(ii) to waive its rights to liquidating distributions from the Trust Account with respect to such warrants if the Company fails
to complete the initial Business Combination within 18 months from the closing of the IPO.</p>

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

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_808_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zuPgC03XqCcc" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 7 &#8212; <span id="xdx_828_zAdOgreiA6c5">Stockholder&#8217;s
Equity</span></span></p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">&#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>Preferred
Stock</i></b></span> &#8212; The Company is authorized to issue <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_c20210930_zw430p8s0CK3" title="Preferred Stock, Shares Authorized"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span> shares of preferred stock with a par value of $<span id="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20210930_ztdbgqFgBpo" title="Preferred Stock, Par Value"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>
per share. As of September 30, 2021, there were <span id="xdx_900_eus-gaap--PreferredStockSharesIssued_iI_do_c20210930_zsGZoH5KQFvh" title="Preferred Stock, Shares Issued"><span id="xdx_908_eus-gaap--PreferredStockSharesOutstanding_iI_do_c20210930_zUsWODSbkTgh" title="Preferred Stock, Shares Outstanding"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-09-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-09-30" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">no</ix:nonFraction></ix:nonFraction></span></span> shares of preferred stock issued or outstanding.</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"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Class
A Common stock </i></b></span>&#8212; The Company is authorized to issue <span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8aXzjLVmSqe" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-09-30_us-gaap_CommonClassAMember" 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_900_eus-gaap--CommonStockParOrStatedValuePerShare_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_pdd" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-09-30_us-gaap_CommonClassAMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span> per share. At September 30, 2021, there were <span id="xdx_900_eus-gaap--CommonStockSharesOutstanding_iI_do_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYujVovZkqsc" title="Common Stock, Shares, Outstanding"><span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_do_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znG28Ydqhsja" title="Common stock, shares issued"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-09-30_us-gaap_CommonClassAMember" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-09-30_us-gaap_CommonClassAMember" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">no</ix:nonFraction></ix:nonFraction></span></span> shares of Class A common stock issued or outstanding.</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"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Class
B Common stock </i></b></span>&#8212; The Company is authorized to issue <span id="xdx_90E_eus-gaap--CommonStockSharesAuthorized_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zdNZYym5cfwi" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-09-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span> shares of Class B common stock with a par
value of $<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zXkYeIvudl18" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-09-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span> per share. At September 30, 2021, there were <span id="xdx_900_eus-gaap--CommonStockSharesIssued_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zjyeMNHPKPr8" title="Common Stock, Shares, Issued"><span id="xdx_90B_eus-gaap--CommonStockSharesOutstanding_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zyXTHUiDOMSl" title="Common Stock, Shares, Outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-09-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-09-30_us-gaap_CommonClassBMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,889,149</ix:nonFraction></ix:nonFraction></span></span> shares of Class B common stock issued and outstanding.</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">The shares of Class B common stock will automatically
convert into shares of the Class A common stock at the time of the initial Business Combination on a one-for-one basis, subject
to adjustment for stock splits, stock dividends, reorganizations, recapitalizations, and the like, and subject to further adjustment
as provided herein.</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"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Warrants
</i></b></span>&#8211; At September 30, 2021, no warrants were issued or outstanding. Upon consummation of the IPO on November
5, 2021, <span id="xdx_906_ecustom--WarrantsIssued_c20211101__20211105__us-gaap--AwardTypeAxis__custom--PublicWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCLzqIDEoH21" title="Warrants issued"><ix:nonFraction name="TGVC:WarrantsIssued" contextRef="From2021-11-012021-11-05_custom_PublicWarrantsMember_us-gaap_IPOMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span> Public Warrants and <span id="xdx_906_ecustom--WarrantsIssued_c20211101__20211105__us-gaap--AwardTypeAxis__custom--PrivatePlacementWarrantsMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z9eHYusns717" title="Warrants issued"><ix:nonFraction name="TGVC:WarrantsIssued" contextRef="From2021-11-012021-11-05_custom_PrivatePlacementWarrantsMember_us-gaap_IPOMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction></span> Private Placement Warrants were issued and are currently outstanding. Each warrant
entitles the holder to purchase one share of the Company&#8217;s Class A common stock at a price of $11.50 per share, subject to adjustment
as described herein. 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 the initial Business Combination at a Newly Issued Price of less
than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by
the 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 its affiliates, prior to such issuance), (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 the initial Business
Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) The Market Value
(defined as the volume weighted average reported trading price of Class A Common Stock for twenty trading days starting on the
trading day prior to the date of the consummation of the initial Business Combination) is below $9.20 per share, the exercise
price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly
Issued Price, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal
to 180% of the greater of the Market Value and the Newly Issued Price.</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">Each warrant is exercisable at any time commencing
on the later of 30 days after the completion of our initial business combination and 12 months from the closing of the IPO and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i) the date that is five (5) years after the date on
which the Company consummates a Business Combination, (ii) at 5:00 p.m., New York City time on the Redemption Date as provided
in the Warrant Agreement and (iii) the liquidation of the Trust Account (the &#8220;Expiration Date&#8221;). The Company in its
sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will
provide at least twenty (20) days&#8217; prior written notice of any such extension to registered holders and, provided further that
any such extension shall be applied consistently to all of the Warrants. Notwithstanding anything to the contrary contained herein,
for so long as any Private Warrant is held by the Sponsor and/or their designees, such Private Warrant may not be exercised after
five years from the Effective Date of the Registration Statement. The warrants will expire at 5:00 p.m., New York City time on
the warrant expiration date, which is five years after the completion of the initial Business Combination or earlier upon redemption
or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly to the Company and not placed
in the Trust Account.</p>

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

<ix:exclude><p id="xdx_236_zNg7EL45qbk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 16; Value: 1 -->
    <div id="xdx_23A_ztwXrlDpBjm7" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_235_zmQpAvMEhVOd" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23D_zD1we71wfTHi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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&#8217;s satisfying its obligations described
below with respect to registration. 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 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.
In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder
of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event
will the Company be required to net cash settle any warrant. In the event that a registration statement is not effective for the
exercised warrants, the purchaser of a Unit containing such warrant will have paid the full purchase price for the Unit solely
for the share of Class A common stock underlying such Unit.</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">The Company is not registering the shares
of Class A common stock issuable upon exercise of the warrants at this time. However, the Company has agreed that as soon as practicable
after the closing of the initial Business Combination, the Company will use its best efforts to file with the SEC a registration
statement covering the shares of Class A common stock issuable upon exercise of the warrants, to cause such registration statement
to become effective and to maintain a current prospectus relating to those shares of Class A common stock until the warrants expire
or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of Class A common stock
issuable upon exercise of the warrants is not effective within 60 business days after the closing of the initial 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 3(a)(9) of the Securities Act or another exemption.</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"><i>Redemption of warrants:</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Once the warrants become exercisable, the
Company may redeem the outstanding warrants:</p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; width: 36pt; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; width: 18pt; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">In
whole and not in part;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">at
a price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20210930_pdd" title="Warrant Price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.01</ix:nonFraction></span> per warrant;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">upon
not less than 30 days&#8217; prior written notice of redemption given after the warrants become exercisable to each warrant holder;
and</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">if,
and only if, the last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.</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">If the Company calls the warrants for redemption
as described above, the management will have the option to require all holders that wish to exercise warrants to do so on a &#8220;cashless
basis.&#8221; In determining whether to require all holders to exercise their warrants on a &#8220;cashless basis,&#8221; the management
will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect on
the stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of the warrants. In
such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of Class A common
stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the
warrants, multiplied by the difference between the exercise price of the warrants and the &#8220;fair market value&#8221; (defined
below) by (y) the fair market value. The &#8220;fair market value&#8221; shall mean the average reported last sale price of the
Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption
is sent to the holders of warrants. If the Company&#8217;s management takes advantage of this option, the notice of redemption will
contain the information necessary to calculate the number of shares of Class A common stock to be received upon exercise of the
warrants, including the &#8220;fair market value&#8221; in such case. Requiring a cashless exercise in this manner will reduce the
number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption.</p>

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

<ix:exclude><p id="xdx_23E_zel608Wikszf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 17; Value: 1 -->
    <div id="xdx_23C_z3xBQ0evkSL3" 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%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td></tr></table></div>
    <div id="xdx_23E_zrHgEeExqfKe" 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: left; width: 100%"><a href="#b_001">Table of Contents</a></td></tr></table></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23D_zNS4qZGV74J1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_800_eus-gaap--SubsequentEventsTextBlock_zmXvspzmGHN8" style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-style: normal">Note 8 &#8212; <span id="xdx_82E_z3nysgZVMlTk">Subsequent
Events</span></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluated subsequent events and
transactions that occurred after the balance sheet date up to the date the financial statements were issued. Except as disclosed
in the footnotes elsewhere and below, the Company did not identify any subsequent events that would have required adjustment or
disclosure in the financial statements.</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">On November 2, 2021, the <span id="xdx_904_ecustom--SponsorsAgreementDescription_c20210208__20210930_z8i4qkfwBcBh" title="Sponsors Agreement Description"><ix:nonNumeric contextRef="From2021-02-08to2021-09-30" name="TGVC:SponsorsAgreementDescription">Sponsor entered into
an Agreement with the Company&#8217;s three independent directors under which they were each assigned 30,000 of the Founder Shares the
Sponsor owned, as an inducement to serve as directors of the Company, for which they paid $0.009 per share, or an aggregate of
$810. The shares are vested upon the consummation of the IPO. The fair value of the 90,000 shares at November 2, 2021, was estimated
using a Monte Carlo simulation model to be approximately $706,000 in the aggregate, which the Company recorded as director compensation
expense.</ix:nonNumeric></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">On November 5, 2021, the Company consummated
the IPO of <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zai3UrfwiCtd" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">11,500,000</ix:nonFraction></span> units (the &#8220;Units&#8221; and, with respect to the Common stock included in the Units being offered,
the &#8220;Public Shares&#8221; and the warrants included in the Units being offered, the &#8220;Public Warrants&#8221;) at $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_pdd" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction>
</span>per Unit, including the full exercise of the underwriters&#8217; over-allotment of <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_pdd" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,500,000</ix:nonFraction></span> Units, generating gross proceeds to the
Company of $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211101__20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zqIGM4op81Mc" title="Gross proceeds"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2021-11-012021-11-05_us-gaap_SubsequentEventMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">115,000,000</ix:nonFraction></span>. Simultaneously with the consummation of the IPO, the Company consummated the private placement of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210208__20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_pdd" title="Sale of units"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-02-082021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction>
</span>Warrants (the &#8220;Private Placement Warrants&#8221;) at a price of $<span id="xdx_904_eus-gaap--SaleOfStockPricePerShare_c20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_pdd" title="Sale of units per share"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">1.00</ix:nonFraction></span> per Private Placement Warrant to the Sponsor, generating
gross proceeds to the Company of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20210208__20210930__us-gaap--SubsidiarySaleOfStockAxis__custom--PrivatePlacementWarrantsMember_pp0p0" title="Proceeds from private placement"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-02-082021-09-30_custom_PrivatePlacementWarrantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,500,000</ix:nonFraction></span>. Transaction costs of the IPO amounted to $<span id="xdx_908_ecustom--TransactionCosts_pp0p0_c20210208__20210930_zrnBWe8hzJK8" title="Transaction costs"><ix:nonFraction name="TGVC:TransactionCosts" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,040,822</ix:nonFraction></span> consisting of $<span id="xdx_905_eus-gaap--UnderwritingIncomeLoss_c20210208__20210930_pp0p0" title="Underwriting commissions"><ix:nonFraction name="us-gaap:UnderwritingIncomeLoss" contextRef="From2021-02-08to2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,150,000</ix:nonFraction> </span>of underwriting
commissions, $<span id="xdx_908_ecustom--FairValueUnits_iI_pp0p0_c20210930_zwIYvJ44FzT1" title="Fair value units"><ix:nonFraction name="TGVC:FairValueUnits" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">575,000</ix:nonFraction></span> of fair value of the Units issued to ThinkEquity LLC (&#8220;ThinkEquity&#8221;), the representative of the
underwriters, $<span id="xdx_901_ecustom--FairValueUnits_iI_pp0p0_c20210930__srt--OwnershipAxis__custom--FounderSharesMember_zKYKdTOJ0fK7" title="Fair value units"><ix:nonFraction name="TGVC:FairValueUnits" contextRef="AsOf2021-09-30_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">579,110</ix:nonFraction></span> of fair value of the Founder Shares sold to advisors in excess of proceeds, and $<span id="xdx_906_eus-gaap--OtherOwnershipInterestsOfferingCosts_c20210930_pp0p0" title="Other offering costs"><ix:nonFraction name="us-gaap:OtherOwnershipInterestsOfferingCosts" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">736,712</ix:nonFraction></span> of other offering
costs, and was all charged to shareholders&#8217; equity.</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">On November 5, 2021, the Company fully repaid
the outstanding promissory note balance of $<span id="xdx_909_ecustom--RepaymentOfOutstandingAmount_iI_c20211105__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSEGlfdhYSyi" title="Repayment of outstanding amount"><ix:nonFraction name="TGVC:RepaymentOfOutstandingAmount" contextRef="AsOf2021-11-05_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">227,690</ix:nonFraction></span>.</p>

</ix:nonNumeric><p id="xdx_81C_zzHK1ubXUnN8" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_008"></span>Item 2. Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations.</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">References to the &#8220;Company,&#8221;
&#8220;TG Venture Acquisition Corp.,&#8221; &#8220;our,&#8221; &#8220;us&#8221; or &#8220;we&#8221; refer to TG Venture Acquisition Corp.
The following discussion and analysis of the Company&#8217;s financial condition and results of operations should be read in conjunction
with the unaudited interim condensed financial statements and the notes thereto contained elsewhere in this report. Certain information
contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Cautionary Note Regarding Forward-Looking Statements</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">This Quarterly Report
on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act. We have based these forward-looking statements on our current expectations and projections
about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about
us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as &#8220;may,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;would,&#8221;
&#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221;
or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include,
but are not limited to, those described in our other SEC filings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We are a newly organized
blank check company incorporated on February 8, 2021, as a Delaware corporation and 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;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Our sponsor is Tsangs
Group Holdings Limited (the &#8220;Sponsor&#8221;). The registration statement for our initial public offering was declared effective
on November 2, 2021. On November 5, 2021, we consummated the IPO of 11,500,000 units (the &#8220;Units&#8221; and, with respect
to the Common stock included in the Units being offered, the &#8220;Public Shares&#8221; and the warrants included in the Units
being offered, the &#8220;Public Warrants&#8221;) at $10.00 per Unit, including the full exercise of the underwriters&#8217; over-allotment
of 1,500,000 Units. Transaction costs amounted to $3,040,822 consisting of $1,150,000 of underwriting commissions, $575,000 of
fair value of the Units issued to ThinkEquity LLC (&#8220;ThinkEquity&#8221;), the representative of the underwriters, $579,110
of fair value of the Founder Shares sold to advisors in excess of proceeds, and $736,712 of other offering costs, and was all
charged to shareholders&#8217; equity. </p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Simultaneously with the
consummation of the IPO, the Company consummated the private placement of 5,500,000 Warrants (the &#8220;Private Placement Warrants&#8221;)
at a price of $1.00 per Private Placement Warrant to the Sponsor, generating gross proceeds to the Company of $5,500,000.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Upon the closing of the
Initial Public Offering and the Private Placement, an amount of $117,300,000 ($10.20 per Unit) from the net proceeds of the sale of
Units in the IPO and a portion of the proceeds of the sale of the Private Placement Warrants was deposited into a trust account (the
&#8220;Trust Account&#8221;) located in the United States with Continental Stock Transfer &amp; Trust Company acting as trustee, and
will be invested only in U.S. government securities with a maturity of 180 days or less or in money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except
with respect to interest earned on the funds held in the Trust Account that may be released to us to pay its franchise and income
tax obligations (less up to $100,000 of interest to pay dissolution expenses), the proceeds from the IPO and the sale of the Private
Placement Warrants will not be released from the Trust Account until the earliest of: (a) the completion of the initial Business
Combination; (b) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend our amended
and restated certificate of incorporation: (i) to modify the substance or timing of our obligation to allow redemption in connection
with the initial Business Combination or certain amendments to our charter prior thereto or to redeem 100% of the Public Shares if
we are unable to complete the initial Business Combination within 18 months from the closing of this offering May 5, 2023; or (ii) with respect
to any other provision relating to stockholders&#8217; rights or pre-Business Combination activity; and (c) the redemption of 100%
of the Public Shares if we are unable to complete the initial Business Combination within the required time frame (subject to the
requirements of applicable law).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We have 18 months from
the closing of the IPO (the &#8220;Combination Period&#8221;) to complete the initial Business Combination. If we are unable to
complete the initial 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 no more than ten business days thereafter subject to lawfully available
funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay
its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares,
which redemption will completely extinguish public stockholders&#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 our remaining stockholders and the board of directors, dissolve and liquidate, subject in the case
of clauses (ii) and (iii) above to our 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 warrants, which will
expire worthless if we fail to complete the initial Business Combination within the Combination Period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Liquidity and Capital Resources</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Our liquidity needs up
to September 30, 2021 had been satisfied through a payment from the Sponsor of $25,000 for the Founder Shares to cover certain
offering costs and the loan under an unsecured promissory note from the Sponsor of up to $400,000. As of September 30, 2021, we
had $76,687 in its operating bank account, and working capital deficit of $258,899.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif; color: black">After
consummation of the IPO on November 5, 2021, we had $688,590 in our operating bank account, and working capital of $976,890. </span>In
addition, in order to finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of the
Sponsor or certain of our officers and directors may, but are not obligated to, provide us Working Capital Loans as defined in
Note 5. As of September 30, 2021, 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; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Based on the foregoing,
management believes that we will have sufficient working capital and borrowing capacity to meet its 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 these funds
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; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Risks and Uncertainties</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Management continues
to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have
a negative effect on our financial position, results of our operations, and/or search for a target company, the specific impact
is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Results of Operations</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">As of September 30, 2021,
we had not commenced any operations. All activity for the period from February 8, 2021 (inception) through September 30, 2021
relates to our formation and the Initial Public Offering. We have neither engaged in any operations nor generated any revenues
to date. We will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest.
We will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from
the Initial Public Offering. We expect to incur increased expenses as a result of being a public company (for legal, financial
reporting, accounting and auditing compliance), as well as for due diligence expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">For the period from February
8, 2021 (inception) to September 30, 2021, we had net loss of approximately $7,790, which consisted of formation and operating
costs. For the three months ended September 30, 2021, we had a net loss of $7,348 consisting of formation and operating costs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We do not have any long-term
debt obligations, capital lease obligations, operating lease obligations, purchase obligations or long-term liabilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><i>Administrative Services Agreement</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We entered into an administrative
services agreement on November 2, 2021, pursuant to which we will pay an affiliate of the Sponsor, $445 per month for office space,
utilities and secretarial and administrative support. Upon completion of the initial Business Combination or the Company&#8217;s liquidation,
we will cease paying these monthly fees.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><i>Registration Rights</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">The holders of the Founder
Shares, Private Placement Warrants and warrants 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 and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the Effective Date of the registration statement of which this prospectus forms a
part, requiring us to register such securities for resale (in the case of the Founder Shares, only after conversion to the Class
A common stock). The holders of these securities will be 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 our completion of the initial Business Combination.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><i>Underwriting Agreement</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">On November 5, 2021,
we paid a cash underwriting discount of 1.0% per Unit, or $1,150,000.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;<b>&#160;</b></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">The preparation of condensed financial statements and related disclosures in conformity with accounting principles
generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses
during the periods reported. Actual results could materially differ from those estimates. We have identified the following critical accounting
policies.</p>

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

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><i>Deferred Offering Costs</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We comply with the requirements
of the ASC 340-10-S99-1. Deferred offering costs consists of legal, accounting, underwriting fees and other costs incurred through
the balance sheet date that are directly related to the Public Offering. Offering costs are allocated to the separable financial
instruments to be issued in the IPO based on a relative fair value basis, compared to total proceeds received. Upon closing of
the IPO on November 5, 2021, offering costs associated with the Class A common stock and the warrants were charged to stockholders&#8217;
equity. Transaction costs amounted to $3,040,822, all of which was allocated to stockholders&#8217; equity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Common Stock Subject to Possible Redemption</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif; color: #212529">We
will account for our common stock subject to possible redemption in accordance with the guidance in FASB ASC Topic 480 &#8220;Distinguishing
Liabilities from Equity.&#8221; Common stock subject to mandatory redemption (if any) is classified as a liability instrument and
measured at fair value. Conditionally redeemable common stock (including shares of common stock that feature redemption rights
that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within
the Company&#8217;s control) is classified as temporary equity. At all other times, common stock is classified as stockholders&#8217; equity.
Our Common stock will feature certain redemption rights that are considered to be outside of the Company&#8217;s control and will be
subject to the occurrence of uncertain future events. Accordingly, common stock subject to possible redemption will be presented
at redemption value as temporary equity, outside of the stockholders&#8217; equity section of the Company&#8217;s condensed balance sheet</span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We recognize changes
in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected
by charges against additional paid in capital and accumulated deficit.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><i>Net Loss Per Common Share</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We comply with the accounting
and disclosure requirements of FASB ASC Topic 260, &#8220;Earnings Per Share.&#8221; Net loss per common share is computed by dividing
net loss by the weighted average number of shares of common stock outstanding during the period, excluding common stock subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 375,000 shares of common stock that were
subject to forfeiture if the over-allotment option was not exercised by the underwriter. At September 30, 2021, we did not have
any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share
in our earnings. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented.
</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We account for warrants as
either equity-classified or liability-classified instruments based on an assessment of the warrant&#8217;s specific terms and
applicable authoritative guidance in FASB ASC 480, &#8220;Distinguishing Liabilities from Equity&#8221; (&#8220;ASC 480&#8221;) and
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&#8217;s own common shares and whether the warrant holders could
potentially require &#8220;net cash settlement&#8221; in a circumstance outside of the Company&#8217;s control, among other
conditions for equity classification. This assessment is conducted at the time
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: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">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 of the criteria for equity classification,
the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter.
We account for our outstanding warrants as equity-classified instruments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">As of September 30, 2021,
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We do not believe that
inflation had a material impact on our business, revenues or operating results during the period presented.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b>Emerging Growth Company Status</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">We are an &#8220;emerging
growth company,&#8221; as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of
2012, (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are
applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to
comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and approval of any golden parachute payments not previously approved.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">Further, Section102 (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. We have elected not to opt out of
such extended transition period which means that when a standard is issued or revised and it has different application dates for
public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies
adopt the new or revised standard. This may make comparison of our financial statement 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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_009"></span>Item 3. Quantitative and Qualitative Disclosures About
Market Risk.</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_010"></span>Item 4. Controls and Procedures.</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i>Evaluation
of Disclosure Controls and Procedures</i></b></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; text-indent: 0.25in; background-color: white">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">Under
the supervision and with the participation of our principal executive officer and principal financial officer, we conducted an
evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter ended September
30, 2021, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal
executive officer and principal financial officer concluded that during the period covered by this report, our disclosure controls
and procedures were effective.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i>Changes in
Internal Control over Financial Reporting</i></b></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 0 0 0.05pt; text-align: justify; text-indent: 22.45pt">There was
no change in our internal control over financial reporting that occurred during the fiscal quarter ended September 30, 2021 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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05pt; text-align: justify; text-indent: 22.45pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05pt; text-align: justify; text-indent: 22.45pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05pt; text-align: justify; text-indent: 22.45pt">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_011"></span>PART&#160;II&#160;- OTHER INFORMATION</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="a_012"></span>ITEM 1. LEGAL PROCEEDINGS</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are not a party to any material legal proceedings
and no material legal proceedings have been threatened by us or, to the best of our knowledge, against us.</p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_013"></span>ITEM 1A. RISK FACTORS</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Factors that could cause our actual results
to differ materially from those in this Quarterly Report are any of the risks described in our final prospectus dated November
3, 2021 filed with the SEC. Any of these factors could result in a significant or material adverse effect on our results of operations
or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair
our business or results of operations. As of the date of this Quarterly Report, there have been no material changes to the risk
factors disclosed in our final prospectus dated November 3, 2021, filed with the SEC, except we may disclose changes to such factors
or disclose additional factors from time to time in our future filings with the SEC.</p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_014"></span>ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND
USE OF PROCEEDS </b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Unregistered Sales of Equity Securities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#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">On
November 5, 2021, simultaneously with the closing of the initial public offering (the &#8220;<b style="font-style: normal; font-weight: normal">IPO</b>&#8221;), <span style="color: black">pursuant
to the Warrant Subscription Agreement, the Company completed the private sale of an aggregate of 5,500,000 warrants (the &#8220;<b style="font-style: normal; font-weight: normal">Private
Placement Warrants</b>&#8221;) to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds
to the Company of $5,500,000 (the &#8220;<b style="font-style: normal; font-weight: normal">Private Placement</b>&#8221;). The Private Placement Warrants are identical to the Warrants
included in the Units sold as part of the Units in the IPO, except as otherwise disclosed in the Registration Statement. </span></span><span style="color: black">Each
of the Private Placement Warrants are exercisable to purchase one share of Class A Common Stock at a price of $11.50 per share.
No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Warrants was
made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. </span>No
commissions were paid in connection with such sales.</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"><i>Use of Proceeds</i></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On November 5, 2021,
we consummated the IPO of 11,500,000 units (the &#8220;<span>Units</span>&#8221;), which included 1,500,000 Units upon a full exercise
of the underwriters&#8217; over-allotment option. Each Unit consists of one share of Class A common stock of the Company, par value
$0.0001 per share (&#8220;<span>Class A Common Stock</span>&#8221;), and one redeemable warrant of the Company (each warrant, a &#8220;<span>Warrant</span>&#8221;),
with each Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share. The Units were
sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $115,000,000.</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">The Private Placement
generated gross proceeds to the Company of $5,500,000.</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">A total of $117,300,000
of the proceeds from the IPO and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A.,
maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee.</p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_015"></span>ITEM 3. DEFAULTS UPON SENIOR SECURITIES</b></p>

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

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_016"></span>ITEM 4. MINE SAFETY DISCLOSURES</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_017"></span>ITEM 5. OTHER INFORMATION</b></p>

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

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

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="a_018"></span>ITEM 6. EXHIBITS</b></p>

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

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="font-size: 10pt">
<td style="border-bottom: windowtext 1pt solid; padding: 0; vertical-align: top; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>No.</b></span></td>
<td style="padding: 0; vertical-align: top; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b></span></td>
<td style="border-bottom: windowtext 1pt solid; padding: 0; vertical-align: bottom; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Description
of Exhibit</b></span></td></tr>
<tr style="font-size: 10pt">
<td style="padding: 0; vertical-align: top; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">31.1*</span></td>
<td style="padding: 0; vertical-align: top; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; vertical-align: bottom; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="e3349_ex31-1.htm">Certification of Chief Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt; background-color: White">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">31.2*</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="e3349_ex31-2.htm">Certification of Chief Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a></span></td></tr>
<tr style="font-size: 10pt">
<td style="padding: 0; vertical-align: top; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">32.1*</span></td>
<td style="padding: 0; vertical-align: top; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; vertical-align: bottom; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="e3349_ex32-1.htm">Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</a></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt; background-color: White">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">32.2*</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; text-align: justify; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="e3349_ex32-2.htm">Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</a></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.INS*</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">XBRL Instance Document</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt; background-color: White">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.CAL*</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">XBRL Taxonomy Extension
Calculation Linkbase Document</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; text-align: center; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">101.SCH*</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">* Filed herewith.</p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b><span id="a_019"></span>SIGNATURES</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 45pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="2" style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: black"><b>TG
Venture Acquisition Corp.</b></span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0; width: 50%"><span style="font: 10pt Times New Roman, Times, Serif; color: black">Date:
December 17, 2021</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0; width: 5%"><span style="font: 10pt Times New Roman, Times, Serif; color: black">By:</span></td>
<td style="border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-indent: 0; width: 45%"><span style="font: 10pt Times New Roman, Times, Serif">/s/
Pui Lan Patrick Tsang</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Pui Lan Patrick
Tsang</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Chief Executive
Officer</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">(Principal Executive
Officer)</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">By:</span></td>
<td style="border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">/s/
Philip Rettger</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Philip Rettger</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">Chief Financial
Officer</span></td></tr>
<tr style="vertical-align: top; font-size: 10pt">
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding: 0; font-size: 10pt; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif">(Principal Financial
and Accounting Officer)</span></td></tr>
</table>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">23</p>

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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
September 30, 2021
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the transition period from to
Commission
File No.
001-41000
TG Venture Acquisition Corp.
(Exact
name of registrant as specified in its charter)
Delaware
86-1985947
(State
                                                                or other jurisdiction of
incorporation
        or organization)
(I.R.S.
                                                                Employer
Identification
                                                            No.)
1390 Market Street
,
Suite 200
San Francisco
,
CA
94102
(Address
of Principal Executive Offices, including zip code)
(
628
)
251-1369
(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 and one Redeemable Warrant
TGVC.U
Nasdaq
Global Market
Class
A Common Stock, par value $0.0001 per share
TGVC
Nasdaq
Global Market
Warrants,
each exercisable for one share Class A Common Stock for $11.50 per share
TGVC.W
Nasdaq
Global Market
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes
☐
No
☒
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files).
Yes
☐
No ☐
Table of Contents
Indicate
by
check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
☐
Large accelerated filer
☐
Accelerated
    filer
☒
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):
Yes
☒
No ☐
As
of December 17, 2021, there were
11,557,500
shares of the Class A Common Stock, par value $0
.0001 per share, and
2,889,149
shares of the Class B Common Stock, par value $0.0001 per share, of the Company issued and outstanding.
Table of Contents
TG VENTURE ACQUISITION CORP.
Form 10-Q For the Quarter Ended September 30, 2021
Table of Contents
Page
Part I. Financial Information
1
Item 1.
Financial Statements
1
Unaudited Condensed Balance Sheet as of September 30, 2021
1
Unaudited Condensed Statements of Operations for the three months ended September 30, 2021 and for the period from February 8, 2021 (inception) through September 30, 2021
2
Unaudited Condensed Statement of Changes in Stockholder's Equity for the period from February 8, 2021 (inception) through September 30, 2021
3
Unaudited Condensed Statement of Cash Flows for the period from February 8, 2021 (inception) through September 30, 2021
4
Notes to Unaudited Condensed Financial Statements
5
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
16
Item 3.
Quantitative and Qualitative Disclosures Regarding Market Risk
20
Item 4.
Controls and Procedures
20
Part II. Other Information
21
Item 1.
Legal Proceedings
21
Item 1A.
Risk Factors
21
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
21
Item 3.
Defaults Upon Senior Securities
21
Item 4.
Mine Safety Disclosures
21
Item 5.
Other Information
21
Item 6.
Exhibits
22
Part III. Signatures
23
i
Table of Contents
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
TG VENTURE ACQUISITION
CORP.
UNAUDITED CONDENSED BALANCE SHEET
September 30,
2021
(unaudited)
Assets:
Cash
$
76,687
Total current assets
76,687
Deferred offering costs
277,091
Total assets
$
353,778
Liabilities and Stockholder's Equity
Accrued offering costs and expenses
$
107,896
Promissory Note - Related Party
227,690
Total current liabilities
335,586
Commitments and Contingencies (Note 6)
Stockholder's Equity:
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;
none
issued and outstanding
—
Class B common stock, $
0.0001
par value;
10,000,000
shares authorized;
2,889,149
shares issued and outstanding
(1)
289
Additional paid-in capital
25,693
Accumulated deficit
(
7,790
)
Total stockholder's equity
18,192
Total Liabilities and Stockholder's Equity
$
353,778
(1)
This number included up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).
The accompanying notes
are an integral part of these unaudited condensed financial statements.
1
Table of Contents
TG VENTURE ACQUISITION
CORP.
UNAUDITED CONDENSED STATEMENTS
OF OPERATIONS
For the three
months ended
September 30,
2021
For the period
from February 8,
2021
(inception)
through
September 30,
2021
Formation and operating cost
$
7,348
$
7,790
Net loss
$
(
7,348
)
$
(
7,790
)
Basic and diluted weighted average shares outstanding
(1)
2,514,149
2,514,149
Basic and diluted net loss per common share
$
0.00
$
0.00
(1)
This number excluded up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).
The accompanying notes
are an integral part of these unaudited condensed financial statements.
2
Table of Contents
TG VENTURE ACQUISITION
CORP.
UNAUDITED CONDENSED STATEMENT
OF CHANGES IN STOCKHOLDER'S EQUITY
FOR THE PERIOD FROM FEBRUARY 8, 2021 (INCEPTION)
THROUGH SEPTEMBER 30, 2021
Class B
Additional
Total
Common stock
Paid-in
Accumulated
Stockholder's
Shares
(1)
Amount
Capital
Deficit
Equity
Balance as of February 8, 2021 (inception)
—
$
—
$
—
$
—
$
—
Issuance of Class B common stock to Sponsor
2,889,149
289
25,693
—
25,982
Net loss
—
—
—
(
442
)
(
442
)
Balance as of June 30, 2021 (unaudited)
2,889,149
$
289
$
25,693
$
(
442
)
$
25,540
Net loss
—
—
—
(
7,348
)
(
7,348
)
Balance as of September 30, 2021 (unaudited)
2,889,149
$
289
$
25,693
$
(
7,790
)
$
18,192
(1)
This number included up to 375,000 shares of Class B common stock subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 8).
The accompanying notes
are an integral part of these unaudited condensed financial statements.
3
Table of Contents
TG VENTURE ACQUISITION
CORP.
UNAUDITED CONDENSED STATEMENT
OF CASH FLOWS
FOR THE PERIOD FROM FEBRUARY 8, 2021 (INCEPTION)
THROUGH SEPTEMBER 30, 2021
Cash flows from operating activities:
Net loss
$
(
7,790
)
Adjustments to reconcile net loss to net cash provided by operating activities:
Formation and operating costs paid by Promissory note – related party
4,854
Net cash used in operating activities
(
2,936
)
Cash flows from financing activities:
Proceeds from issuance of shares to initial stockholders
25,982
Proceeds from issuance of promissory note to related party
100,000
Payment of deferred offering costs
(
46,359
)
Net cash provided by financing activities
79,623
Net change in cash
76,687
Cash, beginning of the period
—
Cash, end of the period
$
76,687
Supplemental disclosure of non-cash financing activities:
Deferred offering costs paid by Sponsor under the promissory note
$
122,836
Deferred offering costs included in accrued offering costs and expenses
$
107,896
The accompanying notes
are an integral part of these unaudited condensed financial statements.
4
Table of Contents
TG VENTURE ACQUISITION
CORP.
NOTES TO UNAUDITED CONDENSED
FINANCIAL STATEMENTS
Note 1 —
Organization
and Business Operations
TG Venture
Acquisition Corp. (the "Company") is a newly organized, blank check company incorporated as a Delaware corporation on
February 8, 2021, 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").
As of
September 30, 2021, the Company had not commenced any operations. All activity for the period from February 8, 2021 (inception)
through September 30, 2021 relates to the Company's formation and the initial public offering described below. The Company will
not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company
will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the
Initial Public Offering (the "IPO"). The Company has selected December 31 as its fiscal year end.
The Company's
sponsor is Tsangs Group Holdings Limited (the "Sponsor"). The registration statement for the Company's IPO was declared
effective on November 2, 2021 (the "Effective Date"). On November 5, 2021, the Company consummated the IPO of
11,500,000
units (the "Units" and, with respect to the Common stock included in the Units being offered, the "Public Shares"
and the warrants included in the Units being offered, the "Public Warrants") at $
10.00
per Unit, including the full exercise
of the underwriters' over-allotment of
1,500,000
Units, generating gross proceeds to the Company of $
115,000,000
, which is discussed
in Note 3.
Simultaneously
with the consummation of the IPO, the Company consummated the private placement of
5,500,000
Warrants (the "Private Placement
Warrants") at a price of $
1.00
per Private Placement Warrant to the Sponsor, generating gross proceeds to the Company of $
5,500,000
,
which is described in Note 4.
Transaction
costs amounted to $
3,040,822
consisting of $
1,150,000
of underwriting commissions, $
575,000
of fair value of the Units issued to
ThinkEquity LLC ("ThinkEquity"), the representative of the underwriters (see Note 6), $
579,110
of fair value of the Founder
Shares (as defined in Note 5) sold to advisors in excess of proceeds (see Note 5), and $
736,712
of other offering costs, and was
all charged to stockholders' equity.
While
the Company's management has broad discretion with respect to the specific application of the cash held outside of the Trust Account,
substantially all of the net proceeds from the Initial Public Offering and the sale of the Private Placement Warrants, which are
placed in the Trust Account, are intended to be applied generally toward completing a Business Combination. The Company's Business
Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value
of the assets held in the Trust Account (excluding the taxes payable on the interest earned on the Trust Account) at the time of
the signing a definitive agreement in connection with the initial Business Combination. However, the Company will only complete
a Business Combination if the post-Business Combination 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 of 1940, as amended (the "Investment Company Act"). There is no assurance
that the Company will be able to successfully effect a Business Combination.
Following
the closing of the IPO on November 5, 2021, $
117,300,000
($10.20 per Unit) from the net proceeds of the sale of Units in the IPO and a portion of the proceeds of the sale of the Private
Placement Warrants were deposited into a trust account (the "Trust Account") located in the United States with
Continental Stock Transfer & Trust Company acting as trustee, and are invested only in U.S. government securities with a
maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act
which invest only in direct U.S. government treasury obligations. Except with respect to interest earned on the funds held in the
Trust Account that may be released to the Company to pay its franchise and income tax obligations (less up to $
100,000
of interest to pay dissolution expenses), the proceeds from the IPO and the sale of the Private Placement Warrants will not be
released from the Trust Account until the earliest of: (a) the completion of the initial Business Combination; (b) the redemption of
any Public Shares properly submitted in connection with a stockholder vote to amend the Company's amended and restated
certificate of incorporation: (i) to modify the substance or timing of the Company's obligation to allow redemption in
connection with the initial Business Combination or certain amendments to the Company's charter prior thereto or to redeem
100% of the Public Shares if the Company does not complete the initial Business Combination within 18 months from the closing of
this offering May 5, 2023; or (ii) with respect to any other provisi
on relating to stockholders' rights or pre-Business
Combination activity; and (c) the redemption of 100% of the Public Shares if the Company is unable to complete the initial Business
Combination within the required time frame (subject to the requirements of applicable law).
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Public stockholders have the opportunity to
redeem all or a portion of their Public Shares upon the completion of the initial Business Combinatio
n
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days
prior to voting on the initial Business Combination, including interest earned on the funds held in the Trust Account and not
previously released to the Company to pay its franchise and income taxes, divided by the number of then outstanding Public Shares,
subject to the limitations described herein. The amount in the Trust Account is initially anticipated to be $10.20 per public
share.
The Company
will only proceed with a Business Combination if the Company has net tangible assets of at least $
5,000,001
immediately prior to
or upon the consummation of such Business Combination, and, if the Company seeks public stockholder approval, a majority of the
shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by applicable law or stock exchange
listing requirements and the Company does not decide to hold a stockholder vote for business or other reasons, the Company will,
pursuant to its amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of
the U.S. Securities and Exchange Commission (the "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 applicable law or stock exchange listing
requirements, or the Company decides to obtain stockholder approval for business or other 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 Sponsor has agreed to vote its Founder Shares
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 without voting, and if they do vote, irrespective of whether they
vote for or against the proposed transaction.
The
Company has 18 months from the closing of the IPO (the "Combination Period") to complete the initial Business Combination.
If the Company is unable to complete the initial 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 no more than ten business days
thereafter subject to lawfully available funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account
and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided
by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders' rights as stockholders
(including the right to receive further liquidating distributions, if any), subject to applicable law; and (iii) as promptly as
reasonably possible following such redemption, subject to the approval of the Comp
any's remaining stockholders and the
board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above 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 warrants, which will expire worthless if the Company fails to complete the initial
Business Combination within the Combination Period.
The initial stockholders, Sponsor, executive
officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) to waive
their redemption rights with respect to their Founder Shares if we are forced to liquidate; (ii) to waive their redemption rights
with respect to their Founder Shares and Public Shares in connection with a stockholder vote to a
pprove
an amendment to the Company's amended and restated certificate of incorporation: (A) to modify the substance or timing of the
Company's obligation to allow redemption in connection with the Company's initial Business Combination or certain amendments to
the charter prior thereto or to redeem 100% of the Company's Public Shares if the Company does not complete the initial Business
Combination within the Combined Period or (B) with respect to any other provision relating to stockholders' rights or pre-initial
Business Combination activity; and (iii) to waive their rights to liquidating distributions from the Trust Account with respect
to their Founder Shares if the Company fails to complete the initial Business Combination within the Combination Period, although
they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company
fails to complete the initial Business Combination within the Combination Period; (iv) the Founder Shares are shares of the Company's
Class B common stock that will automatically convert into shares of the Company's Class A common stock at the time of the initial
Business Combination, on a one-for-one basis, subject to adjustment as described herein, and (v) are entitled to registration
rights. If the Company submits the initial Business Combination to the public stockholders for a vote, the initial stockholders,
officers and directors have agreed pursuant to the letter agreement to vote any shares held by them and any Public Shares purchased
during or after this offering (including in open market and privately negotiated transactions) in favor of the initial Business
Combination.
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The
Sponsor has agreed that it will 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 entered into a written letter of
intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds in the Trust Account
to below the lesser of (i) $10.20 per Public Share; and (ii) the actual amount per public share held in the Trust Account as of
the date of the liquidation of the Trust Account, if less than $10.20 per share due to reductions in the value of the trust assets,
less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business
who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable)
nor will it apply to any claims under the Company's indemnity of the underwriters of the IPO against certain liabilities, including
liabilities under the Securities Act. However, the Company has not asked the Sponsor to reserve for such indemnification obligations,
nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe
that the Sponsor's only assets are securities of the Company. Therefore, the Compa
ny cannot assent that the Sponsor would
be able to satisfy those obligations. None of the Company's officers or directors will indemnify the Company for claims by third
parties including, without limitation, claims by vendors and prospective target businesses.
Liquidity and Capital Resources
The Company's liquidity needs up to September
30, 2021 had been satisfied through a payment from the Sponsor of $
25,000
(see Note 5) for the Founder Shares and the loan under
an unsecured promissory note from the Sponsor of up to $
400,000
(see Note 5). As of September 30, 2021, the Company had $
76,687
in its operating bank account, and working capital deficit of $
258,899
.
After
consummation of the IPO on November 5, 2021, the Company had $
688,590
in its operating bank account, and working capital of $
976,890
.
In addition, in order to finance transaction costs in connection with a Business Combination, the Company's 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 below (see Note 5). As of September 30, 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 the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the
Company will be using these funds 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
.
Risks and Uncertainties
Management is currently evaluating the impact
of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on
the Company's financial position and/or search for a target company, the specific impact is not readily determinable as of the
date of the financial statements. The financial statements do not include any adjustments that might result from the outcome of
this uncertainty.
Note 2 —
Significant
Accounting Policies
Basis of Presentation
The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP")
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X 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 the information and footnotes necessary for a complete presentation of financial position, results of operations,
or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results
and cash flows for the periods presented.
The accompanying unaudited condensed financial
statements should be read in conjunction with the Company's Prospectus, which contains the initial audited financial statements
and notes thereto for the period from February 8, 2021 (inception) to April 12, 2021 as filed with the SEC on November 3, 2021,
and the Company's report on Form 8-K, which contains the Company's audited balance sheet and notes thereto as of November 5, 2021,
as filed with the SEC on November 16, 2021. The interim results for the three months ended September 30, 2021 and for the period
from February 8, 2021 (inception) through September 30, 2021 are not necessarily indicative of the results to be expected for the
year ending December 31, 2021 or for any future interim periods.
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Emerging Growth Company Status
The Company is an "emerging growth
company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012,
(the "JOBS Act"), and it may take advantage of certain exemptions from various reporting requirements that are
applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to
comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and approval of any golden parachute payments not previously approved.
Further, Section102 (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 statement with another public company which
is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period
difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates
The preparation of the financial statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Making estimates requires
management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of a condition,
situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could
differ significantly from those estimates. The significant accounting estimate reflected in the Company's financial statements
includes, but is not limited to, valuation of Founder Shares.
Cash and Cash Equivalents
The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash of $
76,687
as of September 30, 2021. The Company did
no
t have any cash equivalents
as of September 30, 2021.
Deferred Offering Costs
The Company complies with the
requirements of the ASC 340-10-S99-1. Deferred offering costs consists of legal, accounting, underwriting fees and other
costs incurred through the balance sheet date that are directly related to the Public Offering. Offering costs are allocated
to the separable financial instruments to be issued in the IPO based on a relative fair value basis, compared to total
proceeds received. Upon closing of the IPO on November 5, 2021, offering costs associated with the Class A common stock and
the warrants were charged to stockholders' equity. As of September 30, 2021, total deferred offering costs were
$
277,091
, and upon the IPO on November 5, 2021  amounted to $
3,040,822
,
all of which was allocated to stockholders' equity.
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Fair Value of Financial Instruments
The fair value of the Company's assets and
liabilities, which qualify as financial instruments under the FASB ASC 820, "Fair Value Measurements and Disclosures,"
approximates the carrying amounts represented in the balance sheet, primarily due to its short-term nature.
Fair Value Measurements
Fair value is defined as the price that would
be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at
the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair
value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities
(Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:
●
Level
1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;
●
Level
2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted
prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not
active; and
●
Level
3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions,
such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are
unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the
fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy
based on the lowest level input that is significant to the fair value measurement.
Common stock Subject to Possible Redemption
The
Company will account for its common stock subject to possible redemption in accordance with the guidance in FASB ASC Topic 480
"Distinguishing Liabilities from Equity." Common stock subject to mandatory redemption (if any) is classified as a liability
instrument and measured at fair value. Conditionally redeemable common stock (including shares of common stock that feature redemption
rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely
within the Company's control) is classified as temporary equity. At all other times, common stock is classified as stockholders'
equity. The Company's Common stock will feature certain redemption rights that are considered to be outside of the Company's control
and will be subject to the occurrence of uncertain future events. Accordingly, common stock subject to possible redemption will
be presented at redemption value as temporary equity, outside of the stockholders' equity section of the Company's condensed balance
sheet
.
We recognize changes
in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected
by charges against additional paid in capital and accumulated deficit.
Derivative
                                            Financial Instruments
The Company evaluates its financial instruments
to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with FASB
ASC Topic 815, "Derivatives and Hedging" ("ASC 815"). Derivative instruments are initially recorded at fair
value on the grant date and re-valued at each reporting date, with changes in the fair value reported in the statements of operations.
Derivative assets and liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash
settlement or conversion of the instrument could be required within 12 months of the balance sheet date.
Warrants
The Company accounts for warrants as either
equity-classified or liability-classified instruments based on an assessment of the warrant's specific terms and applicable authoritative
guidance in FASB ASC 480, "Distinguishing Liabilities from Equity" ("ASC 480") and ASC 815. The assessment considers whether
the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480,
and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants
are indexed to the Company's own common shares and whether the warrant holders could potentially require "net cash settlement"
in a circumstance outside of the Company's control, among other conditions for equity classification. This assessment is conducted at the time warrant issuance and as of each subsequent quarterly period end date
while the warrants are outstanding.
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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 of the criteria for equity classification, the warrants
are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company
accounts for the
11,500,000
Public Warrants (Note 3) and
5,500,000
Private Placement Warrants (Note 4)  as equity-classified instruments.
Net Loss Per Common Share
The Company complies with the accounting and
disclosure requirements of FASB ASC Topic 260, "Earnings Per Share." Net loss per common share is computed by dividing
net loss by the weighted average number of shares of common stock outstanding during the period, excluding common stock subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of
375,000
shares of common stock that were
subject to forfeiture if the over-allotment option was not exercised by the underwriter. At September 30, 2021, the Company did
not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and
then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share
for the periods presented.
Income Taxes
The Company accounts
for income taxes under FASB ASC 740, "Income Taxes" ("ASC 740"). ASC 740 requires the recognition of deferred
tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets
and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally
requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets
will not be realized.
ASC 740 also clarifies the accounting for
uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement
process for financial statement recognition and measurement of a tax position 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.
ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure
and transition. 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 September 30, 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 has identified the United States
as its only "major" tax jurisdiction. The Company is subject to income tax examinations by major taxing authorities
since inception. These examinations may include questioning the timing and amount of deductions, the nexus of income among various
tax jurisdictions and compliance with federal and state tax laws. The Company's management does not expect that the total amount
of unrecognized tax benefits will materially change over the next twelve months. The provision for income taxes was deemed to
be immaterial for the three months ended September 30, 2021 and for the period from February 8, 2021(inception) through September
30, 2021.
Concentration of Credit Risk
Financial instruments that potentially subject
the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the
Federal Depository Insurance Corporation coverage of $
250,000
. At September 30, 2021, the Company had not experienced losses on
this account.
Recent Accounting Pronouncements
In August 2020, the FASB issued ASU No. 2020-06,
"Debt with Conversion and Other Options" (Subtopic 470-20) and "Derivatives and Hedging-Contracts in Entity's Own
Equity" (Subtopic 815-40) ("ASU 2020-06"), which simplifies the accounting for convertible instruments. The guidance
removes certain accounting models that separate the embedded conversion features from the host contract for convertible instruments.
ASU 2020-06 allows for a modified or full retrospective method of transition. This update is effective for fiscal years beginning
after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU No.
2020-06 upon its incorporation. The impact to our financial statements was not material.
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Management does not believe that any other
recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's
financial statements.
Note 3 —
Initial
Public Offering
On November 5, 2021,
the Company sold
11,500,000
Units, including the full exercise of the underwriters' over-allotment option to purchase
1,500,000
Units, at a purchase price of $
10.00
per Unit. Each unit consists of one Public Share, an aggregate of 11,500,000 Public Shares,
and one redeemable Public Warrant, an aggregate of 11,500,000 Public Warrants. Each Public Warrant entitles the holder to purchase
one share of Class A common stock at an exercise price of $11.50 per share, subject to adjustment (see Note 7).
Note 4 —
Private
Placement
Simultaneously with the closing of the IPO,
the Sponsor purchased an aggregate of
5,500,000
Private Placement Warrants at a price of $
1.00
per warrant in a private placement,
for an aggregate purchase price of $
5,500,000
. Each Private Placement Warrant entitles the holder thereof to purchase one share
of the Company's Class A common stock at a price of $11.50 per share, subject to adjustments (see Note 7), and will expire worthless
if the Company does not complete the initial Business Combination.
The Private Placement Warrants are identical
to the Public Warrants except that they will not be transferable, assignable or saleable until 30 days after the Business Combination
except to certain permitted transferees.
Note 5 —
Related
Party Transactions
Founder Shares
In 2021, the Sponsor and other founders (the
"Initial Stockholder") paid $
25,982
in exchange for
2,889,149
shares of Common stock (the "Founder Shares").
The number of Founder Shares outstanding was determined based on the expectation that the total size of the IPO would be a maximum
of
11,500,000
Units if the underwriter's over-allotment option was exercised in full, and therefore that such Founder Shares represent
20% of the outstanding shares after the IPO.
Two of the initial stockholders, TriPoint
Capital Management, LLC ("TriPoint"), a Delaware limited liability company, and HFI Limited ("HFI"), a Cayman
Islands company, serve in an advisory capacity to the Sponsor with the Company being a primary beneficiary, and their participation
in the purchase of Founder Shares is considered as part of their compensation as advisors. Accordingly, upon consummation of the
IPO on November 5, 2021, the Company recorded the excess fair value above the purchase price of the
300,000
Founder Shares purchased
by TriPoint and HFI as an offering cost of $
579,110
, which were charged to stockholders' equity.
On November 2, 2021, the Sponsor entered into
an Agreement with the
Company's three independent directors under which they were each assigned 30,000 of the Founder Shares the
Sponsor owned, as an inducement to serve as directors of the Company, for which they paid $0.009 per share, or an aggregate of
$810. The shares are vested upon the consummation of the IPO. The fair value of the 90,000 shares at November 2, 2021, was estimated
using a Monte Carlo simulation model to be approximately $706,000 in the aggregate, which the Company will record as director
compensation expense (see Note 8).
The Initial Stockholders have agreed not to
transfer, assign, or sell any of their Founder Shares until the earlier to occur of: (A) six months after the completion of the
initial Business Combination or (B) subsequent to the initial Business Combination, (x) if the last 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 the initial Business
Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization 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, except with respect to permitted transferees.
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Promissory Note — Related Party
The Sponsor issued a promissory note allowing
the Company to borrow up to $
400,000
under an unsecured promissory note to be used for a portion of the expenses of the IPO. Through
September 30, 2021, the Company had borrowed $
227,690
under the promissory note. On November 5, 2021, the Company fully repaid
the outstanding promissory note balance of $
227,690
(see Note 8).
Working Capital Loans
In order to finance transaction costs in connection
with an intended initial business combination, the Sponsor, an affiliate of the Sponsor or certain of the Company's officers and
directors may, but is not obligated to, loan the Company funds as may be required (the "Working Capital Loans"). If
the Company completes an initial Business Combination, the Company would repay such loaned amounts out of the proceeds of the
Trust Account released to the Company. Otherwise, such loans would be repaid only out of funds held outside the Trust Account.
In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside
the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts.
Up to $
3,000,000
of such loans may be convertible into Private Placement Warrants of the post Business Combination entity, at
a price of $
1.00
per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants issued
to the Sponsor. As of September 30, 2021, the Company had
no
borrowings under the Working Capital Loans.
Administrative Service Fee
The Company entered
into an administrative services agreement on November 2, 2021, pursuant to which the Company will pay an affiliate of the Sponsor,
$445 per month for office space, utilities and secretarial and administrative support. Upon completion of the initial Business
Combination or the Company's liquidation, the Company will cease paying these monthly fees.
Note 6 —
Commitments
and Contingencies
Registration Rights
The holders of the Founder Shares, Private
Placement Warrants and warrants 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 and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration rights
agreement to be signed prior to or on the Effective Date of the registration statement of which this prospectus forms a part,
requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to the
Class A common stock). The holders of these securities will be entitled to make up to three demands, excluding short form demands,
that the Company registers such securities. In addition, the holders have certain "piggy-back" registration rights with
respect to registration statements filed subsequent to the Company's completion of the initial Business Combination.
Underwriting Agreement
On November 5, 2021, the Company paid a
cash underwriting discount of 1.0% per Unit, or $
1,150,000
. In addition, the underwriting agreement provides the option to purchase up to
1,500,000
additional Units to cover any over-allotments,
if any, at the Proposed Public Offering price of $
10.00
less the underwriting discount of 1%. The over-allotment was exercised
in full upon the IPO on November 5, 2021.
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Representative Units
Simultaneous with the closing of the IPO,
the Company issued to ThinkEquity, as part of representative compensation upon the consummation of the IPO, 57,500 Representative
Units (the "Representative Units"). The Representative Units consist of one share of Class A common stock and one redeemable
warrant to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment. The Representative
Units are identical to the Units except, and so long as the Representative Units are held by ThinkEquity (and/or its designees)
or its permitted transferees, they (i) may not (including the Class A common stock issuable upon exercise of the warrants), subject
to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial
Business Combination, (ii) may be exercised by the holders on a cashless basis, (iii) will be entitled to registration rights
and (iv) will not be exercisable more than five years from the Effective Date of the registration statement of which this prospectus
forms a part in accordance with FINRA Rule 5110(f)(2)(G)(i). ThinkEquity has agreed (i) to waive its redemption rights with respect
to the warrants underlying the Representative Units in connection with the completion of the initial Business Combination and
(ii) to waive its rights to liquidating distributions from the Trust Account with respect to such warrants if the Company fails
to complete the initial Business Combination within 18 months from the closing of the IPO.
Note 7 —
Stockholder's
Equity
Preferred
Stock
— The Company is authorized to issue
1,000,000
shares of preferred stock with a par value of $
0.0001
per share. As of September 30, 2021, there were
no
shares of preferred stock issued or outstanding.
Class
A Common stock
— The Company is authorized to issue
100,000,000
shares of Class A common stock with a par
value of $
0.0001
per share. At September 30, 2021, there were
no
shares of Class A common stock issued or outstanding.
Class
B Common stock
— The Company is authorized to issue
10,000,000
shares of Class B common stock with a par
value of $
0.0001
per share. At September 30, 2021, there were
2,889,149
shares of Class B common stock issued and outstanding.
The shares of Class B common stock will automatically
convert into shares of the Class A common stock at the time of the initial Business Combination on a one-for-one basis, subject
to adjustment for stock splits, stock dividends, reorganizations, recapitalizations, and the like, and subject to further adjustment
as provided herein.
Warrants
– At September 30, 2021, no warrants were issued or outstanding. Upon consummation of the IPO on November
5, 2021,
11,500,000
Public Warrants and
5,500,000
Private Placement Warrants were issued and are currently outstanding. Each warrant
entitles the holder to purchase one share of the Company's Class A common stock at a price of $11.50 per share, subject to adjustment
as described herein. 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 the initial Business Combination at a Newly Issued Price of less
than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by
the 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 its affiliates, prior to such issuance), (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 the initial Business
Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) The Market Value
(defined as the volume weighted average reported trading price of Class A Common Stock for twenty trading days starting on the
trading day prior to the date of the consummation of the initial Business Combination) is below $9.20 per share, the exercise
price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly
Issued Price, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal
to 180% of the greater of the Market Value and the Newly Issued Price.
Each warrant is exercisable at any time commencing
on the later of 30 days after the completion of our initial business combination and 12 months from the closing of the IPO and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i) the date that is five (5) years after the date on
which the Company consummates a Business Combination, (ii) at 5:00 p.m., New York City time on the Redemption Date as provided
in the Warrant Agreement and (iii) the liquidation of the Trust Account (the "Expiration Date"). The Company in its
sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will
provide at least twenty (20) days' prior written notice of any such extension to registered holders and, provided further that
any such extension shall be applied consistently to all of the Warrants. Notwithstanding anything to the contrary contained herein,
for so long as any Private Warrant is held by the Sponsor and/or their designees, such Private Warrant may not be exercised after
five years from the Effective Date of the Registration Statement. The warrants will expire at 5:00 p.m., New York City time on
the warrant expiration date, which is five years after the completion of the initial Business Combination or earlier upon redemption
or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly to the Company and not placed
in the Trust Account.
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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's satisfying its obligations described
below with respect to registration. 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 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.
In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder
of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event
will the Company be required to net cash settle any warrant. In the event that a registration statement is not effective for the
exercised warrants, the purchaser of a Unit containing such warrant will have paid the full purchase price for the Unit solely
for the share of Class A common stock underlying such Unit.
The Company is not registering the shares
of Class A common stock issuable upon exercise of the warrants at this time. However, the Company has agreed that as soon as practicable
after the closing of the initial Business Combination, the Company will use its best efforts to file with the SEC a registration
statement covering the shares of Class A common stock issuable upon exercise of the warrants, to cause such registration statement
to become effective and to maintain a current prospectus relating to those shares of Class A common stock until the warrants expire
or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of Class A common stock
issuable upon exercise of the warrants is not effective within 60 business days after the closing of the initial 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.
Redemption of warrants:
Once the warrants become exercisable, the
Company may redeem the outstanding 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 given after the warrants become exercisable to each warrant holder;
and
●
if,
and only if, the last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.
If the Company calls the warrants for redemption
as described above, the management will have the option to require all holders that wish to exercise warrants to do so on a "cashless
basis." In determining whether to require all holders to exercise their warrants on a "cashless basis," the management
will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect on
the stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of the warrants. In
such event, each holder would pay the exercise price by surrendering the warrants for that number of shares of Class A common
stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the
warrants, multiplied by the difference between the exercise price of the warrants and the "fair market value" (defined
below) by (y) the fair market value. The "fair market value" shall mean the average reported last sale price of the
Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption
is sent to the holders of warrants. If the Company's management takes advantage of this option, the notice of redemption will
contain the information necessary to calculate the number of shares of Class A common stock to be received upon exercise of the
warrants, including the "fair market value" in such case. Requiring a cashless exercise in this manner will reduce the
number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption.
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Note 8 —
Subsequent
Events
The Company evaluated subsequent events and
transactions that occurred after the balance sheet date up to the date the financial statements were issued. Except as disclosed
in the footnotes elsewhere and below, the Company did not identify any subsequent events that would have required adjustment or
disclosure in the financial statements.
On November 2, 2021, the
Sponsor entered into
an Agreement with the Company's three independent directors under which they were each assigned 30,000 of the Founder Shares the
Sponsor owned, as an inducement to serve as directors of the Company, for which they paid $0.009 per share, or an aggregate of
$810. The shares are vested upon the consummation of the IPO. The fair value of the 90,000 shares at November 2, 2021, was estimated
using a Monte Carlo simulation model to be approximately $706,000 in the aggregate, which the Company recorded as director compensation
expense.
On November 5, 2021, the Company consummated
the IPO of
11,500,000
units (the "Units" and, with respect to the Common stock included in the Units being offered,
the "Public Shares" and the warrants included in the Units being offered, the "Public Warrants") at $
10.00
per Unit, including the full exercise of the underwriters' over-allotment of
1,500,000
Units, generating gross proceeds to the
Company of $
115,000,000
. Simultaneously with the consummation of the IPO, the Company consummated the private placement of
5,500,000
Warrants (the "Private Placement Warrants") at a price of $
1.00
per Private Placement Warrant to the Sponsor, generating
gross proceeds to the Company of $
5,500,000
. Transaction costs of the IPO amounted to $
3,040,822
consisting of $
1,150,000
of underwriting
commissions, $
575,000
of fair value of the Units issued to ThinkEquity LLC ("ThinkEquity"), the representative of the
underwriters, $
579,110
of fair value of the Founder Shares sold to advisors in excess of proceeds, and $
736,712
of other offering
costs, and was all charged to shareholders' equity.
On November 5, 2021, the Company fully repaid
the outstanding promissory note balance of $
227,690
.
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Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
References to the "Company,"
"TG Venture Acquisition Corp.," "our," "us" or "we" refer to TG Venture Acquisition Corp.
The following discussion and analysis of the Company's financial condition and results of operations should be read in conjunction
with the unaudited interim condensed financial statements and the notes thereto contained elsewhere in this report. Certain information
contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties.
Cautionary Note Regarding Forward-Looking Statements
This Quarterly Report
on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act. We have based these forward-looking statements on our current expectations and projections
about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about
us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as "may," "should," "could," "would,"
"expect," "plan," "anticipate," "believe," "estimate," "continue,"
or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include,
but are not limited to, those described in our other SEC filings.
Overview
We are a newly organized
blank check company incorporated on February 8, 2021, as a Delaware corporation and 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").
Our sponsor is Tsangs
Group Holdings Limited (the "Sponsor"). The registration statement for our initial public offering was declared effective
on November 2, 2021. On November 5, 2021, we consummated the IPO of 11,500,000 units (the "Units" and, with respect
to the Common stock included in the Units being offered, the "Public Shares" and the warrants included in the Units
being offered, the "Public Warrants") at $10.00 per Unit, including the full exercise of the underwriters' over-allotment
of 1,500,000 Units. Transaction costs amounted to $3,040,822 consisting of $1,150,000 of underwriting commissions, $575,000 of
fair value of the Units issued to ThinkEquity LLC ("ThinkEquity"), the representative of the underwriters, $579,110
of fair value of the Founder Shares sold to advisors in excess of proceeds, and $736,712 of other offering costs, and was all
charged to shareholders' equity.
Simultaneously with the
consummation of the IPO, the Company consummated the private placement of 5,500,000 Warrants (the "Private Placement Warrants")
at a price of $1.00 per Private Placement Warrant to the Sponsor, generating gross proceeds to the Company of $5,500,000.
Upon the closing of the
Initial Public Offering and the Private Placement, an amount of $117,300,000 ($10.20 per Unit) from the net proceeds of the sale of
Units in the IPO and a portion of the proceeds of the sale of the Private Placement Warrants was deposited into a trust account (the
"Trust Account") located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and
will be invested only in U.S. government securities with a maturity of 180 days or less or in money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Except
with respect to interest earned on the funds held in the Trust Account that may be released to us to pay its franchise and income
tax obligations (less up to $100,000 of interest to pay dissolution expenses), the proceeds from the IPO and the sale of the Private
Placement Warrants will not be released from the Trust Account until the earliest of: (a) the completion of the initial Business
Combination; (b) the redemption of any Public Shares properly submitted in connection with a stockholder vote to amend our amended
and restated certificate of incorporation: (i) to modify the substance or timing of our obligation to allow redemption in connection
with the initial Business Combination or certain amendments to our charter prior thereto or to redeem 100% of the Public Shares if
we are unable to complete the initial Business Combination within 18 months from the closing of this offering May 5, 2023; or (ii) with respect
to any other provision relating to stockholders' rights or pre-Business Combination activity; and (c) the redemption of 100%
of the Public Shares if we are unable to complete the initial Business Combination within the required time frame (subject to the
requirements of applicable law).
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We have 18 months from
the closing of the IPO (the "Combination Period") to complete the initial Business Combination. If we are unable to
complete the initial 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 no more than ten business days thereafter subject to lawfully available
funds therefor, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay
its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares,
which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further
liquidating distributions, if any), subject to applicable law; and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of our remaining stockholders and the board of directors, dissolve and liquidate, subject in the case
of clauses (ii) and (iii) above to our 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 warrants, which will
expire worthless if we fail to complete the initial Business Combination within the Combination Period.
Liquidity and Capital Resources
Our liquidity needs up
to September 30, 2021 had been satisfied through a payment from the Sponsor of $25,000 for the Founder Shares to cover certain
offering costs and the loan under an unsecured promissory note from the Sponsor of up to $400,000. As of September 30, 2021, we
had $76,687 in its operating bank account, and working capital deficit of $258,899.
After
consummation of the IPO on November 5, 2021, we had $688,590 in our operating bank account, and working capital of $976,890.
In
addition, in order to finance transaction costs in connection with a Business Combination, our Sponsor or an affiliate of the
Sponsor or certain of our officers and directors may, but are not obligated to, provide us Working Capital Loans as defined in
Note 5. As of September 30, 2021, there were no amounts outstanding under any Working Capital Loans.
Based on the foregoing,
management believes that we will have sufficient working capital and borrowing capacity to meet its 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 these funds
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.
Risks and Uncertainties
Management continues
to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have
a negative effect on our financial position, results of our operations, and/or search for a target company, the specific impact
is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.
Results of Operations
As of September 30, 2021,
we had not commenced any operations. All activity for the period from February 8, 2021 (inception) through September 30, 2021
relates to our formation and the Initial Public Offering. We have neither engaged in any operations nor generated any revenues
to date. We will not generate any operating revenues until after the completion of our initial Business Combination, at the earliest.
We will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from
the Initial Public Offering. We expect to incur increased expenses as a result of being a public company (for legal, financial
reporting, accounting and auditing compliance), as well as for due diligence expenses.
For the period from February
8, 2021 (inception) to September 30, 2021, we had net loss of approximately $7,790, which consisted of formation and operating
costs. For the three months ended September 30, 2021, we had a net loss of $7,348 consisting of formation and operating costs.
Contractual Obligations
We do not have any long-term
debt obligations, capital lease obligations, operating lease obligations, purchase obligations or long-term liabilities.
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Administrative Services Agreement
We entered into an administrative
services agreement on November 2, 2021, pursuant to which we will pay an affiliate of the Sponsor, $445 per month for office space,
utilities and secretarial and administrative support. Upon completion of the initial Business Combination or the Company's liquidation,
we will cease paying these monthly fees.
Registration Rights
The holders of the Founder
Shares, Private Placement Warrants and warrants 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 and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the Effective Date of the registration statement of which this prospectus forms a
part, requiring us to register such securities for resale (in the case of the Founder Shares, only after conversion to the Class
A common stock). The holders of these securities will be 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 our completion of the initial Business Combination.
Underwriting Agreement
On November 5, 2021,
we paid a cash underwriting discount of 1.0% per Unit, or $1,150,000.
Critical Accounting Policies
The preparation of condensed financial statements and related disclosures in conformity with accounting principles
generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses
during the periods reported. Actual results could materially differ from those estimates. We have identified the following critical accounting
policies.
Deferred Offering Costs
We comply with the requirements
of the ASC 340-10-S99-1. Deferred offering costs consists of legal, accounting, underwriting fees and other costs incurred through
the balance sheet date that are directly related to the Public Offering. Offering costs are allocated to the separable financial
instruments to be issued in the IPO based on a relative fair value basis, compared to total proceeds received. Upon closing of
the IPO on November 5, 2021, offering costs associated with the Class A common stock and the warrants were charged to stockholders'
equity. Transaction costs amounted to $3,040,822, all of which was allocated to stockholders' equity.
Common Stock Subject to Possible Redemption
We
will account for our common stock subject to possible redemption in accordance with the guidance in FASB ASC Topic 480 "Distinguishing
Liabilities from Equity." Common stock subject to mandatory redemption (if any) is classified as a liability instrument and
measured at fair value. Conditionally redeemable common stock (including shares of common stock that feature redemption rights
that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within
the Company's control) is classified as temporary equity. At all other times, common stock is classified as stockholders' equity.
Our Common stock will feature certain redemption rights that are considered to be outside of the Company's control and will be
subject to the occurrence of uncertain future events. Accordingly, common stock subject to possible redemption will be presented
at redemption value as temporary equity, outside of the stockholders' equity section of the Company's condensed balance sheet
.
We recognize changes
in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption
value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected
by charges against additional paid in capital and accumulated deficit.
Net Loss Per Common Share
We comply with the accounting
and disclosure requirements of FASB ASC Topic 260, "Earnings Per Share." Net loss per common share is computed by dividing
net loss by the weighted average number of shares of common stock outstanding during the period, excluding common stock subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 375,000 shares of common stock that were
subject to forfeiture if the over-allotment option was not exercised by the underwriter. At September 30, 2021, we did not have
any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share
in our earnings. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented.
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Warrants
We account for warrants as
either equity-classified or liability-classified instruments based on an assessment of the warrant's specific terms and
applicable authoritative guidance in FASB ASC 480, "Distinguishing Liabilities from Equity" ("ASC 480") and
ASC 815. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the
definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under
ASC 815, including whether the warrants are indexed to the Company's own common shares and whether the warrant holders could
potentially require "net cash settlement" in a circumstance outside of the Company's control, among other
conditions for equity classification. This assessment is conducted at the time
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 of the criteria for equity classification,
the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter.
We account for our outstanding warrants as equity-classified instruments.
Off-Balance Sheet Arrangements
As of September 30, 2021,
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.
Inflation
We do not believe that
inflation had a material impact on our business, revenues or operating results during the period presented.
Emerging Growth Company Status
We are an "emerging
growth company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of
2012, (the "JOBS Act"), and it may take advantage of certain exemptions from various reporting requirements that are
applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to
comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and approval of any golden parachute payments not previously approved.
Further, Section102 (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. We have elected not to opt out of
such extended transition period which means that when a standard is issued or revised and it has different application dates for
public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies
adopt the new or revised standard. This may make comparison of our financial statement 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.
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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.
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 principal executive officer and principal financial officer, we conducted an
evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter ended September
30, 2021, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal
executive officer and principal financial officer concluded that during the period covered by this report, our disclosure controls
and procedures were effective.
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 September 30, 2021 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.
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PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
We are not a party to any material legal proceedings
and no material legal proceedings have been threatened by us or, to the best of our knowledge, against us.
ITEM 1A. RISK FACTORS
Factors that could cause our actual results
to differ materially from those in this Quarterly Report are any of the risks described in our final prospectus dated November
3, 2021 filed with the SEC. Any of these factors could result in a significant or material adverse effect on our results of operations
or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair
our business or results of operations. As of the date of this Quarterly Report, there have been no material changes to the risk
factors disclosed in our final prospectus dated November 3, 2021, filed with the SEC, except we may disclose changes to such factors
or disclose additional factors from time to time in our future filings with the SEC.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND
USE OF PROCEEDS
Unregistered Sales of Equity Securities
On
November 5, 2021, simultaneously with the closing of the initial public offering (the "
IPO
"),
pursuant
to the Warrant Subscription Agreement, the Company completed the private sale of an aggregate of 5,500,000 warrants (the "
Private
Placement Warrants
") to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds
to the Company of $5,500,000 (the "
Private Placement
"). The Private Placement Warrants are identical to the Warrants
included in the Units sold as part of the Units in the IPO, except as otherwise disclosed in the Registration Statement.
Each
of the Private Placement Warrants are exercisable to purchase one share of Class A Common Stock at a price of $11.50 per share.
No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Warrants was
made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.
No
commissions were paid in connection with such sales.
Use of Proceeds
On November 5, 2021,
we consummated the IPO of 11,500,000 units (the "
Units
"), which included 1,500,000 Units upon a full exercise
of the underwriters' over-allotment option. Each Unit consists of one share of Class A common stock of the Company, par value
$0.0001 per share ("
Class A Common Stock
"), and one redeemable warrant of the Company (each warrant, a "
Warrant
"),
with each Warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share. The Units were
sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $115,000,000.
The Private Placement
generated gross proceeds to the Company of $5,500,000.
A total of $117,300,000
of the proceeds from the IPO and the Private Placement was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A.,
maintained by Continental Stock Transfer & Trust Company, acting as trustee.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
None.
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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 Chief Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*
Certification of Chief Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*
XBRL Instance Document
101.CAL*
XBRL Taxonomy Extension
Calculation Linkbase Document
101.SCH*
XBRL Taxonomy Extension
Schema Document
101.DEF*
XBRL Taxonomy Extension
Definition Linkbase Document
101.LAB*
XBRL Taxonomy Extension
Labels Linkbase Document
101.PRE*
XBRL Taxonomy Extension
Presentation Linkbase Document
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document).
* Filed herewith.
22
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SIGNATURES
Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
TG
Venture Acquisition Corp.
Date:
December 17, 2021
By:
/s/
Pui Lan Patrick Tsang
Pui Lan Patrick
Tsang
Chief Executive
Officer
(Principal Executive
Officer)
By:
/s/
Philip Rettger
Philip Rettger
Chief Financial
Officer
(Principal Financial
and Accounting Officer)
23