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Subsequent Events
6 Months Ended
Sep. 30, 2021
Subsequent Events  
Subsequent Events

Note 8 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up through the date that the financial statement was issued. Based upon this review, except for those discussed below, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statement.

On November 9, 2021, the Company consummated its IPO of 20,000,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the “Public Shares”) (or 23,000,000 units if the underwriters’ over-allotment option is exercised in full) at $10.00 per Unit, which is discussed in Note 3 (the “Public Offering”) and the sale of 12,000,000 warrants (or 13,500,000 warrants if the underwriters’ over-allotment option is exercised in full) (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to the Sponsor that closed simultaneously with the Public Offering.

Transaction costs amounted to $11,756,427 consisting of $4,000,000 of underwriting commissions, $7,000,000 of deferred underwriting fees and $756,427 of other cash offering costs.

Following the closing of the IPO on November 9, 2021, a total of $206,000,000, comprised of $196,000,000 of the net proceeds from the IPO, including $7,000,000 of the underwriters’ deferred discount, and $10,000,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee.

On November 12, 2021, the underwriters exercised their full over-allotment option, resulting in an additional 3,000,000 Units issued for gross proceeds of $30,000,000.

Transaction costs associated with the underwriters’ exercise of their over-allotment option amounted to $1,650,000 of underwriting fees, $600,000 in underwriting discount paid at the time of the over-allotment and $1,050,000 in deferred underwriting fees. A total of $29,400,000 was deposited into the Trust Account, bringing the aggregate proceeds held in the Trust Account to $235,400,000.

As a result of the underwriters’ election to exercise their over-allotment option, 750,000 Founder Shares are no longer subject to forfeiture.