Class A Ordinary Shares Subject to Possible Redemption

12 Months Ended

Dec. 31, 2021

Class A Ordinary Shares Subject to Possible Redemption

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 December 31, 2021, and 2020, there were 41,400,000 Class A ordinary shares outstanding, all of which were subject to redemption.

The Class A ordinary shares issued in the Initial Public Offering and those issued as part of the Over-Allotment Units were recognized in Class A ordinary shares subject to possible redemption as follows:

Gross Proceeds	$	414,000,000
Less:
Proceeds allocated to Public Warrants		(19,458,000)
Class A ordinary shares issuance costs		(22,524,192)
Plus:
Accretion of carrying value to redemption value		41,982,192
Class A ordinary shares subject to possible redemption	$	414,000,000