Quarterly report pursuant to Section 13 or 15(d)

Class A Ordinary Shares Subject to Possible Redemption

v3.22.1
Class A Ordinary Shares Subject to Possible Redemption
3 Months Ended
Mar. 31, 2022
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

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 100,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holder of the Company’s Class A ordinary shares are entitled to one vote for each share. As of March 31, 2022 and December 31, 2021, there were 34,500,000 shares of Class A ordinary shares outstanding, all of which were subject to possible redemption.

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

Gross proceeds received from Initial Public Offering

    

$

345,000,000

Less:

    

 

  

Fair value of Public Warrants at issuance

 

(7,728,000)

Offering costs allocated to Class A ordinary shares subject to possible redemption

 

(19,341,308)

Plus:

Accretion on Class A ordinary shares subject to possible redemption amount

 

27,069,308

Class A ordinary shares subject to possible redemption

$

345,000,000