Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies Basis of Presentation (Tables)

v3.22.1
Significant Accounting Policies Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of Carrying Value, Unrealized Holding Losses and Fair Value of Held to Maturity Securities The carrying value, excluding gross unrealized holding losses and fair value of held to maturity securities on March 31, 2022 are as follows:

 

 

 

Amortized Cost
and Carrying
Value

 

 

Gross
Unrealized
Gains

 

 

Fair Value as of
March 31,
2022

 

Investments held in Trust Account — Cash

 

$

922

 

 

$

—

 

 

$

922

 

Investments held in Trust Account — U.S. Treasury securities

 

 

221,549,605

 

 

 

7,738

 

 

 

221,557,342

 

 

 

 

 

 

 

 

 

 

 

 

 

$

221,550,527

 

 

$

7,738

 

 

$

221,557,342

 
Schedule of Reconciliation of Numerator and Denominator used to Compute Basic and Diluted Net Income Per Share The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income per share for each class of ordinary shares.

 

 

 

For the three months ended
March 31, 2022

 

 

 

Class A

 

 

Class B

 

Basic and diluted net loss per share

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Allocation of net income

 

$

1,198,385

 

 

$

542,756

 

Denominator

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

16,154,111

 

 

 

7,316,306

 

Basic and diluted net income per share

 

$

0.07

 

 

$

0.07

 
Reconciliation of Class A Ordinary Shares

As of March 31, 2022, the amount of Class A ordinary shares reflected on the balance sheet are reconciled in the following table:

 

Gross Proceeds

 

$

219,300,000

 

Less:

 

 

 

Proceeds Allocated to Public Warrants

 

 

(5,372,850

)

 

 

 

 

Class A ordinary shares issuance cost

 

 

(20,937,928

)

Add:

 

 

 

Re-measurement of carrying value to redemption value

 

 

28,561,305

 

 

 

 

 

Class A ordinary shares subject to redemption

 

$

221,550,527