Class A Ordinary Shares Subject to Possible Redemption

9 Months Ended

Sep. 30, 2021

Class A Ordinary Shares Subject to Possible Redemption.

Class A Ordinary Shares Subject to Possible Redemption

Note 7 – 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 200,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. As of September 30, 2021 and December 31, 2020, there were 34,500,000 Class A ordinary shares subject to possible redemption outstanding and classified outside of permanent equity in the condensed balance sheets.

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

Gross proceeds	$	345,000,000
Less:
Amount allocated to Public Warrants		(18,630,000)
Class A ordinary shares issuance costs		(18,670,336)
Plus:
Accretion of carrying value to redemption value		39,025,336
Class A ordinary shares subject to possible redemption	$	346,725,000