Class A Ordinary Shares Subject to Possible Redemption

3 Months Ended

Mar. 31, 2022

Class A Ordinary Shares Subject to Possible Redemption

Class A Ordinary Shares Subject to Possible Redemption

Note 7—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 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 March 31, 2022 and December 31, 2021, there were 20,379,900 Class A ordinary shares outstanding, all of which were subject to possible redemption and classified outside of permanent equity in the condensed balance sheets.

Class A ordinary shares subject to possible redemption reflected on the condensed balance sheets is reconciled on the following table:

Gross proceeds	$	203,799,000
Less:
Proceeds allocated to public warrants		(7,063,760)
Class A ordinary share issuance costs		(11,378,420)
Plus:
Accretion of Class A ordinary shares subject to possible redemption		18,442,180
Class A ordinary share subject to possible redemption	$	203,799,000