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Class A Ordinary Shares Subject to Possible Redemption

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

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 300,000,000 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 March 31, 2022 and December 31, 2021, there were 23,000,000 Class A ordinary shares outstanding, which were all subject to possible redemption and classified outside of permanent equity in the consolidated balance sheets.

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


Gross proceeds from Initial Public Offering	$	230,000,000
Less:
Fair value of Public Warrants at issuance		(12,650,000)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(11,743,101)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		26,693,101
Class A ordinary shares subject to possible redemption	$	232,300,000

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 300,000,000 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 December 31, 2021 and 2020, there were 23,000,000 Class A ordinary shares outstanding, which were all subject to possible redemption and classified outside of permanent equity in the consolidated balance sheets.

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


Gross proceeds from Initial Public Offering	$	230,000,000
Less:
Fair value of Public Warrants at issuance		(12,650,000)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(11,743,101)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		26,693,101
Class A ordinary shares subject to possible redemption	$	232,300,000