Quarterly report pursuant to Section 13 or 15(d)

Class A Ordinary Shares Subject to Possible Redemption

v3.22.1
Class A Ordinary Shares Subject to Possible Redemption
3 Months Ended
Mar. 31, 2022
Temporary Equity Disclosure [Abstract]  
Class A Ordinary Shares Subject to Possible Redemption
Note
8-Class
A Ordinary Shares Subject to Possible Redemption
The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 200,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. As of March 31, 2022 and December 31, 2021, there were 32,408,414 Class A ordinary shares outstanding, which were all subject to possible redemption and are classified outside of permanent equity in the condensed balance sheets.
 
The Class A ordinary shares subject to possible redemption reflected on the condensed balance sheets are reconciled on the following table:
 
    
March 31, 2022
    
December 31, 2021
 
Gross proceeds
   $ 324,084,140      $ 324,084,140  
Less:
                 
Amount allocated to Public Warrants
     (12,955,337      (12,955,337
Class A ordinary shares issuance costs
     (17,680,825      (17,680,825
Plus:
                 
Accretion of carrying value to redemption value
     30,694,026        30,636,162  
    
 
 
    
 
 
 
Class A ordinary shares subject to possible redemption
   $ 324,142,004      $ 324,084,140