Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Shares Subject to Possible Redemption
As of December 31, 2021, the Class A ordinary shares subject to possible redemption reflected on the balance sheet are reconciled in the following table:

Gross Proceeds
  
$
232,000,000
  
Less:
        
Proceeds allocated to Public Warrants
    
(13,110,000
)
Class A ordinary shares issuance costs
    
(12,375,591
)
Plus:
        
Accretion of carrying value to redemption value
    
27,785,591
  
Class A ordinary shares subject to possible redemption
  
$
232,300,000
  
Net Income Per Ordinary Share

A reconciliation of net income per ordinary share is as follows:


 
For the Period from
February 2, 2021 (Inception) through
December 31, 2020
  
   
Class A
    
Class B
  
Basic and diluted net income per share
            
Numerator:
            
Allocation of net income, as adjusted
  
$
4,648,873
    
$
4,837,733
  
Denominator:
                
Basic and diluted weighted average ordinary shares outstanding
    
5,525,526
      
5,750,000
  
Basic and diluted net income per ordinary share
  
$
0.84
    
$
0.84