Class A Common Stock Subject to Possible Redemption

12 Months Ended

Dec. 31, 2021

Class A Ordinary Shares Subject to Possible Redemption [Abstract]

Class A Common Stock Subject to Possible Redemption

7. Class A Common Stock Subject to Possible Redemption

The Company’s Class A common stock 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 shares of Class A common stock with a par value of $0.0001 per share. Holders of the Company’s Class A common stock are entitled to one vote for each share. As of December 31, 2021, there were 41,400,000 shares of Class A common stock outstanding, which were all subject to possible redemption and are classified outside of permanent equity in the balance sheets.

The Class A common stock subject to possible redemption reflected on the balance sheets is reconciled on the following table:

Gross proceeds	$	414,000,000
Less:
Amount allocated to Public Warrants		(13,980,000	)
Class A common stock issuance costs		(22,739,396	)
Plus:
Accretion of carrying value to redemption value		36,719,396
Class A common stock subject to possible redemption	$	414,000,000