CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

12 Months Ended

Dec. 31, 2021

Class Common Stock Subject To Possible Redemption

CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

NOTE 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 100,000,000 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 20,855,250 shares of Class A common stock outstanding, of which 20,700,000 shares are 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 from Initial Public Offering	$	207,000,000
Less:
Fair value of Public Warrants at issuance		(9,159,750	)
Offering costs allocated to Class A common stock subject to possible redemption		(11,168,880	)
Plus:
Accretion on Class A common stock subject to possible redemption amount		23,433,630
Class A common stock subject to possible redemption	$	210,105,000