Class A Ordinary Share Subject To Possible Redemption
7 Months Ended 9 Months Ended
Dec. 31, 2020
Sep. 30, 2021
Temporary Equity Disclosure [Abstract]    
Class A Ordinary Share Subject To Possible Redemption
NOTE 8- CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION
The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue 400,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of December 31, 2020, there were 57,500,000 shares of Class A ordinary shares outstanding, which were all subject to possible redemption and classified outside of permanent equity in the condensed balance sheet.
The Class A ordinary shares subject to possible redemption reflected on the condensed balance sheet is reconciled on the following table:
 
Gross proceeds
  
$
575,000,000
 
Less:
  
     
Fair value of Public Warrants at issuance
  
 
28,750,000
 
Offering costs allocated to Class A ordinary shares subject to possible redemption
  
 
30,740,575
 
Plus:
  
     
Accretion of carrying value to redemption value
  
 
(59,490,575
 
  
 
 
 
Class A ordinary share subject to possible redemption
  
$
575,000,000
 
 
  
 
 
 
NOTE
7-
CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION
The Company’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to the occurrence of future events. The Company is authorized to issue
400,000,000 shares of Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of September 30, 2021, there were 57,500,000 shares of Class A ordinary shares outstanding, which were all subject to possible redemption and classified outside of permanent equity in the condensed balance sheets.
The Class A ordinary shares subject to possible redemption reflected on the condensed balance sheet is reconciled on the following table:
 
Gross proceeds
  
$
575,000,000
 
Less:
  
     
Fair value of Public Warrants at issuance
  
 
28,750,000
 
Offering costs allocated to Class A ordinary shares subject to possible redemption
  
 
30,740,575
 
Plus:
  
     
Accretion of carrying value to redemption value
  
 
(59,490,575
)
 
  
 
 
 
Class A ordinary shares subject to possible redemption
  
$
575,000,000