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PRIVATE PLACEMENT
6 Months Ended
Jun. 30, 2022
PRIVATE PLACEMENT.  
PRIVATE PLACEMENT

4. PRIVATE PLACEMENT

Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 6,225,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant ($6,225,000 in the aggregate), each exercisable to purchase one share of Class A common stock at a price of $11.50 per share, in a private placement. On October 15, 2021, concurrently with the exercise of the over-allotment option by the underwriter, the Sponsor purchased additional 375,000 Private Placement Warrants generating additional aggregate gross proceeds of $375,000. The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Window, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.