SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Reconciled Class A Ordinary Shares Subject to Possible Redemption

At December 31, 2021 and 2020, the Class A ordinary shares subject to possible redemption reflected in the balance sheets are reconciled in the following table:

Gross proceeds	$	278,760,000
Less:
Proceeds allocated to Public Warrants	$	(15,897,248	)
Class A ordinary shares issuance costs	$	(17,568,199	)
Plus:
Accretion of carrying value to redemption value	$	33,465,447
Class A ordinary shares subject to possible redemption at December 31, 2020	$	278,760,000
Plus:
Accretion of carrying value to redemption value	$	5,520,000
Class A ordinary shares subject to possible redemption at December 31, 2021	$	284,280,000

Basic and Diluted Net Income (Loss) Per Ordinary Share

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share:

	Year Ended December 31,				Period from July 27, 2020 (inception) to December 31,
	2021				2020
	Class A		Class B		Class A			Class B
Basic and diluted net income per ordinary share
Numerator:
Allocation of net income , as adjusted	$	18,555,924	$	4,638,981	$	(17,023,763	)	$	(3,827,660	)
Denominator:
Basic and diluted weighted average shares outstanding		27,600,000		6,900,000		21,660,759			4,870,253
Basic and diluted net income per ordinary share	$	0.67	$	0.67	$	(0.79	)	$	(0.79	)