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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of reconciliation of net income (loss) per ordinary share

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):

 

For the Period from

February 11,

Three Months Ended

Three Months Ended September 30,

Nine Months Ended

2020 (Inception) Through

September 30, 2021

2020

September 30, 2021

September 30, 2020

    

Class A

    

Class B

    

Class A

    

Class B

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income (loss) per ordinary share

Numerator:

Allocation of net income (loss), as adjusted

$

4,879,751

$

1,219,938

$

(755,017)

$

(188,754)

$

19,169,660

$

4,792,415

$

(6,196,313)

$

(3,236,129)

Denominator:

Basic and diluted weighted average shares outstanding

51,750,000

12,937,500

51,750,000

12,937,500

51,750,000

12,937,500

22,975,216

11,999,192

Basic and diluted net income (loss) per ordinary share

$

0.09

$

0.09

$

(0.01)

$

(0.01)

$

0.37

$

0.37

$

(0.27)

$

(0.27)

Condensed balance sheet are reconciled

Gross proceeds

    

$

517,500,000

Less:

 

  

Proceeds allocated to Public Warrants

$

(24,150,000)

Class A ordinary shares issuance costs

 

(28,115,576)

Plus:

 

  

Accretion of carrying value to redemption value

$

52,265,576

Class A ordinary shares subject to possible redemption

$

517,500,000