Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Basis of Presentation and Summary of Significant Accounting Policies

Reconciliation of class A ordinary shares

As of June 30, 2022, the amounts of Class A ordinary shares reflected on the condensed balance sheets are reconciled in the following table:

Gross proceeds from Initial Public Offering	$	230,000,000
Less:
Fair value of Public Warrants at issuance		(8,740,000)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(5,469,344)
Plus:
Accretion on Class A ordinary shares subject to possible redemption amount		18,809,344
Class A ordinary shares subject to possible redemption, December 31, 2021		234,600,000
Deemed dividend - increase in redemption value of Class A ordinary shares subject to possible redemption		283,462
Class A ordinary shares subject to possible redemption, June 30, 2022	$	234,883,462

Reconciliation of Net Loss per Common Share

The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of ordinary shares:

	For the three months ended June 30,								For the six months ended				For the period from January 21, 2021
	2022				2021				June 30, 2022				(inception) through June 30, 2021
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Basic and diluted net income (loss) per ordinary share:
Numerator:
Allocation of net income (loss)	$	2,512,253	$	628,063	$	—	$	(18,680)	$	4,489,796	$	1,122,449	$	—	$	(31,913)
Denominator:
Basic and diluted weighted average ordinary shares outstanding		23,000,000		5,750,000		—		5,000,000		23,000,000		5,750,000		—		4,596,273
Basic and diluted net income (loss) per ordinary share	$	0.11	$	0.11	$	—	$	(0.00)	$	0.20	$	0.20	$	—	$	(0.01)