| Schedule of Restatement on Financial Statements |
The impact of the restatement on the Company’s financial statements is reflected in the following table.
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| Balance Sheet as of February 16, 2021 (unaudited) |
|
As Previously Reported |
|
Adjustment |
|
As Restated |
| Class A ordinary shares subject to possible redemption |
|
$ |
210,576,766 |
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|
$ |
42,423,234 |
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|
$ |
253,000,000 |
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| Class A ordinary shares |
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$ |
424 |
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|
$ |
(424) |
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|
$ |
— |
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| Additional paid-in capital |
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$ |
5,303,723 |
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$ |
(5,303,723) |
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|
$ |
— |
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| Accumulated deficit |
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$ |
(304,770) |
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|
$ |
(37,119,087) |
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|
$ |
(37,423,857) |
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| Total Shareholders’ Equity (Deficit) |
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$ |
5,000,010 |
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$ |
(42,423,234) |
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$ |
(37,423,224) |
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| Balance Sheet as of March 31, 2021 (unaudited) |
|
As Previously Reported |
|
Adjustment |
|
As Restated |
| Class A ordinary shares subject to possible redemption |
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$ |
208,995,955 |
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$ |
44,004,045 |
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$ |
253,000,000 |
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| Class A ordinary shares |
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$ |
440 |
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$ |
(440) |
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$ |
— |
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| Additional paid-in capital |
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$ |
6,884,518 |
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$ |
(6,884,518) |
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|
$ |
— |
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| Accumulated deficit |
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$ |
(1,885,581) |
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$ |
(37,119,087) |
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$ |
(39,004,668) |
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| Total Shareholders’ Equity (Deficit) |
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$ |
5,000,010 |
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$ |
(44,004,045) |
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$ |
(39,004,035) |
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| Balance Sheet as of June 30, 2021 (unaudited) |
|
As Previously Reported |
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Adjustment |
|
As Restated |
| Class A ordinary shares subject to possible redemption |
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$ |
208,257,092 |
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$ |
44,742,908 |
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$ |
253,000,000 |
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| Class A ordinary shares |
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$ |
448 |
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$ |
(448) |
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$ |
— |
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| Additional paid-in capital |
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$ |
7,623,373 |
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$ |
(7,623,373) |
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$ |
— |
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| Accumulated deficit |
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$ |
(2,624,449) |
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$ |
(37,119,087) |
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$ |
(39,743,536) |
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| Total Shareholders’ Equity (Deficit) |
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$ |
5,000,005 |
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$ |
(44,742,908) |
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$ |
(39,742,903) |
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| Statements of Operations For the Three months ended March 31, 2021 (unaudited) |
|
As Previously Reported |
|
Adjustment |
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As Restated |
| Weighted average shares outstanding, Class A ordinary shares (redeemable) |
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$ |
12,087,778 |
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$ |
12,087,778 |
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| Basic and diluted net income per Class A ordinary shares (redeemable) |
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$ |
2.97 |
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$ |
2.97 |
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| Weighted average shares outstanding, Class B ordinary shares (non redeemable) |
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$ |
7,921,054 |
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$ |
(2,026,887) |
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$ |
5,894,167 |
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| Basic and diluted net loss per Class B ordinary shares (non redeemable) |
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$ |
(0.24) |
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$ |
0.14 |
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$ |
(0.10) |
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| Statements of Operations For the Three months ending June 30, 2021 (unaudited) |
|
As Previously Reported |
|
Adjustment |
|
As Restated |
| Weighted average shares outstanding, Class A ordinary shares (redeemable) |
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$ |
25,300,000 |
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$ |
25,300,000 |
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| Basic and diluted net loss per Class A ordinary shares (redeemable) |
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$ |
(0.02) |
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$ |
(0.02) |
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| Weighted average shares outstanding, Class B ordinary shares (non redeemable) |
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$ |
10,726,807 |
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$ |
(4,401,807) |
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$ |
6,325,000 |
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| Basic and diluted net loss per Class B ordinary shares (non redeemable) |
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$ |
(0.07) |
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$ |
0.05 |
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$ |
(0.02) |
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| Statement of Operations For the Six months ended June 30, 2021 (unaudited) |
|
As Previously Reported |
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Adjustment |
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As Restated |
| Weighted average shares outstanding, Class A ordinary shares (redeemable) |
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$ |
18,730,387 |
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$ |
18,730,387 |
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| Basic and diluted net income per Class A ordinary shares (redeemable) |
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$ |
1.88 |
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$ |
1.88 |
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| Weighted average shares outstanding, Class B ordinary shares (non redeemable) |
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$ |
9,386,872 |
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$ |
(3,276,099) |
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$ |
6,110,773 |
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| Basic and diluted net loss per Class B ordinary shares (non redeemable) |
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(0.28) |
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0.17 |
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(0.11) |
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*The “as previously reported” weighted average shares outstanding and basic and diluted net loss per share included Class B shares and Class A shares that were classified to equity.
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| Statement of Changes in Shareholders’ (Deficit) Equity for the Three Months ended March 31, 2021 (unaudited) |
|
As Previously Reported |
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Adjustment |
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As Restated |
Sale of 25,300,000 Class A shares, $0.0001 par value; 500,000,000 shares authorized; 25,300,000 shares subject to redemption, net of underwriting discounts and offering costs |
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$ |
208,796,106 |
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$ |
(208,796,106) |
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$ |
— |
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Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized, 6,325,000 shares issued and outstanding |
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$ |
633 |
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$ |
— |
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$ |
633 |
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Sale of 7,060,000 Private Placement Warrants |
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$ |
7,060,000 |
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$ |
(7,060,000) |
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$ |
— |
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| Class A ordinary shares subject to possible redemption |
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$ |
(208,995,515) |
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$ |
208,995,515 |
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$ |
— |
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| Accretion for Class A ordinary shares subject to redemption amount |
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$ |
— |
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$ |
(37,143,454) |
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$ |
(37,143,454) |
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| Additional paid-in capital |
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$ |
6,884,518 |
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$ |
(6,884,518) |
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$ |
— |
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| Accumulated deficit |
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$ |
(1,885,581) |
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$ |
(37,119,087) |
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$ |
(39,004,668) |
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| Total Shareholders’ Equity (Deficit) |
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$ |
5,000,010 |
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$ |
(44,004,045) |
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$ |
(39,004,035) |
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Statement of Changes in Shareholders’ (Deficit) Equity for the Three Months ended June 30, 2021 (unaudited)
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| Class A ordinary shares subject to possible redemption |
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$ |
738,863 |
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$ |
(738,863) |
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$ |
— |
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Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized, 6,325,000 shares issued and outstanding |
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$ |
633 |
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$ |
— |
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$ |
633 |
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| Additional paid-in capital |
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$ |
7,623,373 |
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$ |
(7,623,373) |
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$ |
— |
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| Accumulated deficit |
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$ |
(2,624,449) |
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$ |
(37,119,087) |
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$ |
(39,743,536) |
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| Total Shareholders’ Equity (Deficit) |
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$ |
5,000,005 |
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$ |
(44,742,908) |
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$ |
(39,742,903) |
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Statement of Cash Flows for the Period from January 1, 2021 through March 31, 2021, Non-Cash Investing and Financing Activities (unaudited)
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| Initial classification of Class A ordinary shares subject to possible redemption |
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$ |
— |
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$ |
253,000,000 |
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$ |
253,000,000 |
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Statement of Cash Flows for the Six Months Ended June 30, 2021, Non-Cash Investing and Financing Activities (unaudited)
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| Initial classification of Class A ordinary shares subject to possible redemption |
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$ |
240,641,840 |
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$ |
12,358,160 |
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$ |
253,000,000 |
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| Change in value of Class A ordinary shares subject to redemption |
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$ |
(32,384,748) |
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$ |
32,384,748 |
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$ |
— |
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The impact of the restatement on the Company’s balance sheet is reflected in the following table:
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| Balance Sheet as of February 16, 2021 |
|
As
Previously
Reported |
|
Adjustment |
|
As
Restated |
Warrant liabilities |
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$ |
— |
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$ |
30,065,074 |
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$ |
30,065,074 |
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Total liabilities |
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$ |
9,361,700 |
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$ |
30,065,074 |
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$ |
39,426,774 |
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Class A ordinary shares subject to possible redemption |
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$ |
240,641,840 |
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$ |
12,358,160 |
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$ |
253,000,000 |
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Class A ordinary shares |
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$ |
124 |
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$ |
(124) |
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$ |
— |
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Additional paid-in capital |
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$ |
5,004,253 |
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$ |
(5,004,253) |
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$ |
— |
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Accumulated deficit |
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$ |
(5,000) |
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$ |
(37,418,857) |
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$ |
(37,423,857) |
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Total Shareholders’ (Deficit) Equity |
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$ |
5,000,010 |
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$ |
(42,423,234) |
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$ |
(37,423,224) |
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Class A ordinary shares subject to possible redemption |
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24,064,184 |
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1,235,816 |
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25,300,000 |
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