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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

11 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of reconciliation of common stock reflected in the condensed balance sheets

​

​	​	​	​
Gross proceeds		$	500,000,000
Less:	​
Class A common stock issuance costs	​	​	(26,652,125)
Plus:	​
Accretion of carrying value to redemption value	​	​	26,652,125
Class A common stock subject to possible redemption	​	$	500,000,000
​	​	​	​

Shedule of calculation of basic and diluted net income (loss) per common share

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period. Accretion associated with the redeemable shares of Class A common stock is excluded from earnings per share as the redemption value approximates fair value.The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):

​	​	​	​	​	​	​
​	​	December 31, 2021
​	​	Subject to redemption		​	Not subject to redemption
Basic and diluted net loss per common share		​			​
Numerator:		​			​
Allocation of net loss, as adjusted	​	$	(729,236)	​	$	(327,470)
Denominator:	​			​
Basic and diluted weighted average shares outstanding	​		28,476,821	​		12,787,748
Basic and diluted net loss per common share	​	$	(0.03)	​	$	(0.03)

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- Definition

Tabular disclosure of information on reconciliation of common stock reflected in the condensed balance sheets.

+ References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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