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CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION (Tables)

3 Months Ended

Mar. 31, 2023

Temporary Equity Disclosure [Abstract]

Summary of reconciliation of class A common stock subject to possible redemption

As of March 31, 2023 and December 31, 2022, the Class A ordinary shares subject to possible redemption reflected on the condensed consolidated balance sheets are 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	)
Increase in redemption value of Class A ordinary shares subject to possible redemption			(3,166,410	)
Plus:
Accretion of carrying value to redemption value			16,046,813
Waiver of offering costs allocated to Class A ordinary shares subject to possible redemption			6,015,625
Class A ordinary shares subject to possible redemption as of December 31, 2022			277,849,215
Plus:
Accretion of carrying value to redemption value			2,797,302
Class A ordinary shares subject to possible redemption as of March 31, 2023		$	280,646,517

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ 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 (27)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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