You buy shares in a SPAC, Goffo Acquisition, at its IPO for $10 per share, which generates $100 million cash for the SPA

[answerhappygod]

You buy shares in a SPAC, Goffo Acquisition, at its IPO for $10
per share, which generates $100 million cash for the SPAC. The
Sponsor takes a 25% promote, which is 20% of the shares outstanding
after the IPO. There are no other warrants, options or stock
involved in the IPO or after, and no underwriting fees. Now assume
Goffo Acquisition buys a company (it "De-SPACs"). The SPAC pays
$100.0 million in cash for the operating company. A year later the
market values the company at $109.9 million. What will be the value
of the sponsor's shares? Format $12.3 million as 12.3.
If you could explain step by step that would be amazing! Thank
you!