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PUBLIC OFFERING
3 Months Ended
Mar. 31, 2022
Public Offering  
PUBLIC OFFERING

NOTE 3. PUBLIC OFFERING

 

On February 11, 2022, the Company consummated its IPO of 8,625,000 Units (including the full exercise of the underwriter’s overallotment option of 1,125,000 units), at a price of $10.00 per Unit, generating gross proceeds to the Company of $86,250,000. Each Unit consists of one Class A ordinary share and one-half of one redeemable warrant (the “Public Warrants”). Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. Each warrant will become exercisable 30 days after the completion of an initial business combination and will expire on the fifth anniversary of the Company’s completion of an Initial Business Combination or earlier upon redemption or liquidation.