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CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

10 Months Ended

Dec. 31, 2021

CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

NOTE 6 - CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION

Some of 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 share. As of December 31, 2021, there were 28,407,000 shares of Class A ordinary shares outstanding, of which 27,500,000 were subject to possible redemption and are classified outside of permanent equity in the balance sheet.

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


Gross proceeds	$	275,000,000
Less:
Offering costs allocated to Class A ordinary shares subject to possible redemption		(16,046,813)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		16,046,813
Class A ordinary shares subject to possible redemption	$	275,000,000