v3.22.1
Initial Public Offering
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Initial Public Offering
NOTE 3 - Initial Public Offering
Public CAPS
TM
On September 18, 2020, the Company consummated its Initial Public Offering of 41,400,000
CAPS
TM
, which included 5,400,000
CAPS
TM
 
issued as a result of the underwriters’ exercise in full of their over-allotment option, at $10.00 per
CAPS
TM
, generating gross proceeds of $414.0 million, and incurring offering costs of approximately $4.8 million.
Each
CAPS
TM
 
consists of one share of Class A common stock and
one-quarter
of one redeemable warrant (each, a “Public Warrant”). Each whole Public Warrant may be exercised to purchase one share of Class A common stock for $11.50 per share, subject to adjustment (see Note 8).
Underwriting Agreement
The Company granted the underwriters a
45-day
option to purchase up to 5,400,000 additional
CAPS
TM
 to
cover any over-allotment, at the Initial Public Offering price less the underwriting discounts and commissions. The underwriters exercised the over-allotment option in full on September 18, 2020.
The underwriters were entitled to an underwriting discount of $0.01 per
CAPS
TM
, or approximately $4.1 million in the aggregate, paid upon the closing of the Initial Public Offering.