Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Summary of reconciliation of common stock subject to possible redemption

At March 31, 2022 and December 31, 2021, the Common Stock reflected in the condensed consolidated balance sheets are reconciled in the following table:

Gross proceeds

    

$

334,215,700

Less:

 

  

Proceeds allocated to Public Warrants

(12,700,197)

Common stocks issuance costs

(18,132,174)

Plus:

 

  

Accretion of carrying value to redemption value

30,832,371

Class A Common stocks subject to possible redemption

$

334,215,700

Summary of calculation of basic and diluted net income (loss) per common share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):

Three Months Ended

March 31, 

    

2022

2021

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income per common stock

 

  

Numerator:

 

  

Allocation of net income, as adjusted

$

7,329,174

$

1,832,294

$

5,826,048

$

1,456,512

Denominator:

 

  

Basic and diluted weighted average shares outstanding

 

33,421,570

8,355,393

33,421,570

8,355,393

Basic and diluted net income per common stock

$

0.22

$

0.22

$

0.17

$

0.17