Quarterly report pursuant to Section 13 or 15(d)

Class A Ordinary Shares Subject to Possible Redemption

v3.22.2
Class A Ordinary Shares Subject to Possible Redemption
6 Months Ended
Jun. 30, 2022
Stockholders Equity Note [Abstract]  
Class A Ordinary Shares Subject to Possible Redemption

Note 7 - 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 500,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of June 30, 2022 and December 31, 2021, there were 28,103,449 shares of 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 is reconciled on the following table:

 

Gross proceeds

 

$

281,034,490

 

Less:

 

 

 

 

Amount allocated to Public Warrants

 

 

(5,633,100

)

Class A ordinary shares issuance costs

 

 

(15,730,212

)

Plus:

 

 

 

 

Accretion of carrying value to redemption value

 

 

21,363,312

 

Class A ordinary shares subject to possible redemption, December 31, 2021

 

 

281,034,490

 

Remeasurement of redemption value of Class A ordinary shares subject to redemption

 

 

300,989

 

Class A ordinary shares subject to possible redemption, June 30, 2022

 

$

281,335,479