SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

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


	For the year ended December 31, 2021		For the period from January 24, 2020 (inception) through December 31, 2020
Class A ordinary shares
Numerator: Income allocable to Class A ordinary shares
Allocation of net income	$	12,679,258	$	—
Net income attributable to Class A ordinary shares	$	12,679,258	$	—
Denominator: Weighted average Class A ordinary shares
Basic and diluted weighted average shares outstanding, Class A ordinary shares	100,000,000		—
Basic and diluted net income per share, Class A ordinary shares	$	0.13	$	—


Class B ordinary shares
Numerator: Net income (loss) minus net income allocable to Class A ordinary shares
Net income (loss)	$	15,849,072	$	(13,845)
Net income allocable to Class A ordinary shares	(12,679,258)		—
Net income (loss) attributable to Class B ordinary shares	$	3,169,814	$	(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
Basic and diluted net income (loss) per share, Class B ordinary shares	$	0.13	$	(0.00)

At December 31, 2021, the Class A ordinary shares reflected in the 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