XML 53 R21.htm IDEA: XBRL DOCUMENT
v3.21.2

Description of Organization and Business Operations (Details) - USD ($) |  | 3 Months Ended | 12 Months Ended
--- | --- | --- | ---
May 08, 2020 | Mar. 31, 2021 | Dec. 31, 2020
Description of Organization and Business Operations (Details) [Line Items] |  |  |
Gross proceeds from issuance offering | $ 300,000,000 |  | $ 300,000,000
Deferred underwriting commissions | $ 10,500,000 |  |
Number of units issued in transaction (in Shares) | 9,500,000 | 9,500,000 |
Closing initial public offering ,description |  | Upon the closing of the Initial Public Offering and the Private Placement, $300.0 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement were placed in a trust account (the “Trust Account”), located in the United States at JP Morgan Chase Bank, N.A., with Continental Stock Transfer & Trust Company acting as trustee, and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below. | Upon the closing of the Initial Public Offering and the Private Placement, $300.0 million ($10.00 per Unit) of the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement were placed in a trust account (the “Trust Account”), located in the United States at JP Morgan Chase Bank, N.A., with Continental Stock Transfer & Trust Company acting as trustee, and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below.
Aggregate fair market value, description |  | The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the signing of the agreement to enter into the initial Business Combination. | The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the signing of the agreement to enter into the initial Business Combination.
Public shareholders, description |  | The Company will provide the holders (the “Public Shareholders”) of its Class A ordinary shares, par value $0.0001 per share sold in the Initial Public Offering (the “Public Shares”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.00 per Public Share). | The Company will provide the holders (the “Public Shareholders”) of its Class A ordinary shares, par value $0.0001 per share sold in the Initial Public Offering (the “Public Shares”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.00 per Public Share).
Amount of tangible assets |  | $ 5,000,001 | $ 5,000,001
Redeeming shares, percentage |  | 15.00% | 15.00%
Percentage of redemption of company's outstanding public shares |  | 100.00% | 100.00%
Business combination, description |  | (i) a number of shares in the capital of the Company or comparable equity awards that are settled or are exercisable for shares in the capital of the Company, as applicable, based on an implied DeepGreen equity value of $2.25 billion after giving effect to the SOAC Continuance (the “SOAC Ordinary shares”), (ii) 5,000,000 Class A Special Shares, (iii) 10,000,000 Class B Special Shares, (iv) 10,000,000 Class C Special Shares, (v) 20,000,000 Class D Special Shares, (vi) 20,000,000 Class E Special Shares, (vii) 20,000,000 Class F Special Shares, (viii) 25,000,000 Class G Special Shares and (ix) 25,000,000 Class H Special Shares, in each case, in the capital of the Company (collectively, the “Company Earnout Shares”), or, as applicable, options to purchase such SOAC Ordinary shares and Company Earnout Shares. | If the Company is unable to complete a Business Combination within the Combination Period, the Company will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay for its tax obligations, if any (less up to $100,000 of interest to pay dissolution expenses) divided by the number of the then-outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to
Interest to pay dissolution expenses |  | $ 100,000 | $ 100,000
Price per shares (in Dollars per share) |  | $ 10.00 | $ 10.00
Business combination, shares issued (in Shares) |  | 33,030,000 | 33,030,000
Aggregate gross proceeds of business combination |  | $ 330,300,000 | $ 330,300,000
Cash |  | 1,200,000 | 1,300,000
working capital deficit |  | 3,400,000 | $ 372,000
Initial Public Offering [Member] |  |  |
Description of Organization and Business Operations (Details) [Line Items] |  |  |
Consummated Initial public Offering, shares (in Shares) | 30,000,000 |  |
Public shares per unit (in Dollars per share) | $ 10.00 |  |
Gross proceeds from issuance offering | $ 300,000,000 |  |
Offering costs | 17,400,000 |  |
Deferred underwriting commissions | $ 10,500,000 |  |
Number of units issued in transaction (in Shares) | 30,000,000 |  |
Private Placement [Member] |  |  |
Description of Organization and Business Operations (Details) [Line Items] |  |  |
Gross proceeds from issuance offering | $ 9,500,000 | $ 9,500,000 |
Public shares per unit (in Dollars per share) | $ 1.00 | $ 1.00 |
Business Acquisition [Member] |  |  |
Description of Organization and Business Operations (Details) [Line Items] |  |  |
Percentage of outstanding voting securities |  | 50.00% | 50.00%
Business combination, share price (in Dollars per share) |  | $ 10.00 | $ 10.00

X
- References No definition available. + Details
Name: | soac_AggregateFairMarketValueDescription
Namespace Prefix: | soac_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of tangible assests. + References No definition available. + Details
Name: | soac_AmountOfTangibleAssests
Namespace Prefix: | soac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Business combination shares issued + References No definition available. + Details
Name: | soac_BusinessCombinationSharesIssued
Namespace Prefix: | soac_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_ClosingInitialPublicOfferingDescription
Namespace Prefix: | soac_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_ConsummatedInitialPublicOfferingShares
Namespace Prefix: | soac_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition .Deferred underwriting commissions + References No definition available. + Details
Name: | soac_DeferredUnderwritingCommissions
Namespace Prefix: | soac_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_DescriptionOfPublicShareholders
Namespace Prefix: | soac_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_DescriptionofOrganizationandBusinessOperationsDetailsLineItems
Namespace Prefix: | soac_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interest to pay dissolution expenses. + References No definition available. + Details
Name: | soac_InterestToPayDissolutionExpenses
Namespace Prefix: | soac_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Refers to percentage of trust account required for business combination. + References No definition available. + Details
Name: | soac_PercentageOfRedemptionOfCompanysOutstandingPublicShares
Namespace Prefix: | soac_
Data Type: | dtr:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Public shares per unit. + References No definition available. + Details
Name: | soac_PublicSharesPerUnit
Namespace Prefix: | soac_
Data Type: | dtr:perShareItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_RedeemingSharesPercentage
Namespace Prefix: | soac_
Data Type: | dtr:percentItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | soac_ShareIssuedPricePerShare
Namespace Prefix: | soac_
Data Type: | dtr:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Working capital during the period. + References No definition available. + Details
Name: | soac_WorkingCapitalDeficit
Namespace Prefix: | soac_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Percentage of voting equity interests acquired at the acquisition date in the business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionSharePrice
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of equity interests of the acquirer, including instruments or interests issued or issuable in consideration for the business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=116859721&loc=d3e6613-128477 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 30 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=116859721&loc=d3e6578-128477 + Details
Name: | us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This element represents a description of how the entity obtained control of the acquired entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessCombinationControlObtainedDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118262064&loc=SL116631418-115840 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118262064&loc=SL116631419-115840 + Details
Name: | us-gaap_Cash
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Sum of the carrying amounts as of the balance sheet date of deferred costs capitalized at the end of the reporting period that are expected to be charged against earnings within one year or the normal operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.8) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DeferredCostsCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The cash inflow associated with the amount received from entity's first offering of stock to the public. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceInitialPublicOffering
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. + References No definition available. + Details
Name: | us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. + References No definition available. + Details
Name: | us-gaap_SaleOfStockPricePerShare
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsidiarySaleOfStockAxis=us-gaap_PrivatePlacementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=soac_BusinessAcquisitionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |