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Class A Ordinary Shares Subject to Possible Redemption

9 Months Ended

11 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Class AOrdinary Shares Subject To Possible Redemption [Abstract]

Class A Ordinary Shares Subject to Possible Redemption

Note 6. 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 September 30, 2022 and December 31, 2021, there were 34,502,500 Class A ordinary shares outstanding, of which 34,500,000 were subject to possible redemption and are classified outside of permanent equity in the condensed consolidated balance sheets.

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

Gross proceeds from Initial Public Offering	$	345,000,000
Less:
Fair value of Public Warrants at issuance		(10,260,000	)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(18,525,962	)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		28,785,962
Class A ordinary shares subject to possible redemption, December 31, 2021		345,000,000
Increase in redemption value of Class A ordinary shares subject to redemption		387,074
Class A ordinary shares subject to possible redemption, June 30, 2022		345,387,074
Increase in redemption value of Class A ordinary shares subject to redemption		1,523,302
Class A ordinary shares subject to possible redemption, September 30, 2022	$	346,910,376

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, there were 34,502,500 Class A ordinary shares outstanding, of which 34,500,000 were subject to possible redemption and are classified outside of permanent equity in the consolidated balance sheet.

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	$	345,000,000
Less:
Fair value of Public Warrants at issuance		(10,260,000	)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(18,525,962	)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		28,785,962
Class A ordinary shares subject to possible redemption	$	345,000,000