SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

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


	For the three months ended September 30, 2021		For the three months ended September 30, 2020		For the nine months ended September 30, 2021		For the period from January 24, 2020 (inception) through September 30, 2020
Class A ordinary shares
Numerator: Income allocable to Class A ordinary shares
Allocation of net income	$	11,039,693	$	—	$	16,103,898	$	—
Net income attributable to Class A ordinary shares	$	11,039,693	$	—	$	16,103,898	$	—
Denominator: Weighted average Class A ordinary shares
Basic and diluted weighted average shares outstanding, Class A ordinary shares	100,000,000		—		100,000,000		—
Basic and diluted net income per share, Class A ordinary shares	$	0.11	$	—	$	0.16	$	—

Class B ordinary shares
Numerator: Net income (loss) minus net income allocable to Class A ordinary shares
Net income (loss)	$	13,799,616	$	(81)	$	20,129,873	$	(13,845)
Net income allocable to Class A ordinary shares	(11,039,693)		—		(16,103,898)		—
Net income (loss) attributable to Class B ordinary shares	$	2,759,923	$	(81)	$	4,025,975	$	(13,845)
Denominator: Weighted average Class B ordinary shares
Basic and diluted weighted average shares outstanding, Class B ordinary shares	25,000,000		25,000,000		25,000,000		25,000,000
Basic and diluted net income (loss) per share, Class B ordinary shares	$	0.11	$	0.00	$	0.16	$	0.00

At September 30, 2021, the Class A ordinary shares reflected in the unaudited condensed balance sheet is reconciled in the following table:


Gross proceeds	$	1,000,000,000
Less:
Proceeds allocated to Public Warrants	(30,261,819)
Class A ordinary shares issuance costs	(54,255,575)
Plus:
Accretion of carrying value to redemption value	84,517,394
Class A ordinary shares subject to possible redemption	$	1,000,000,000