Annual report pursuant to Section 13 and 15(d)

Class A Ordinary Shares Subject To Possible Redemption

v3.22.1
Class A Ordinary Shares Subject To Possible Redemption
12 Months Ended
Dec. 31, 2021
Class A Ordinary Shares Subject To Possible Redemption  
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. Holders of the Company's Class A ordinary shares are entitled to one vote for each ordinary share. As of December 31, 2021, there were 28,750,000 shares of Class A ordinary shares outstanding that were subject to possible redemption and are classified outside of permanent equity in the balance sheets.

The Class A ordinary shares subject to possible redemption reflected on the balance sheets is reconciled on the following table:

Gross proceeds from Initial Public Offering

    

$

287,500,000

Less:

 

  

Fair value of Public Warrants at issuance

 

(10,350,000)

Offering costs allocated to Class A ordinary shares subject to possible redemption

 

(15,806,778)

Plus:

 

  

Accretion on Class A ordinary shares subject to possible redemption amount

 

26,156,778

Class A ordinary shares subject to possible redemption

$

287,500,000