Quarterly report pursuant to Section 13 or 15(d)

Class A Ordinary Shares Subject to Possible Redemption

v3.21.2
Class A Ordinary Shares Subject to Possible Redemption
9 Months Ended
Sep. 30, 2021
Temporary Equity Disclosure [Abstract]  
Class A Ordinary Shares Subject to Possible Redemption
Note 8—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 500,000,000 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 September 30, 2021, there were 27,500,000 Class A ordinary shares outstanding, which were all subject to possible redemption and are classified outside of permanent equity in the condensed consolidated balance sheet.
The Class A ordinary shares subject to possible redemption reflected on the condensed consolidated balance sheet is reconciled on the following table:
 
Gross proceeds received from Initial Public Offering
   $ 275,000,000  
Less:
        
Fair value of Public Warrants at issuance
     (4,620,000
Offering costs allocated to Class A ordinary shares
     (15,504,954
Plus:
        
Accretion on Class A ordinary shares to redemption value
     20,124,954  
    
 
 
 
Class A ordinary shares subject to possible redemption
   $ 275,000,000