Class A Ordinary Shares Subject to Possible Redemption

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Class A Ordinary Shares Subject to Possible Redemption

Note 6 - 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 200,000,000 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, 2021

and 2020, there

were 23,000,000 Class A ordinary shares issued and subject to possible redemption.

The Class A ordinary shares subject to possible redemption reflected on the accompanying balance sheets are reconciled in the following table:


Gross proceeds	$	230,000,000
Less:
Fair value of Public Warrants at issuance		(14,145,000	)
Offering costs allocated to Class A ordinary shares subject to possible redemption		(11,700,550	)
Plus:
Accretion of carrying value to redemption value		28,145,550

Class A ordinary shares subject to possible redemption	$	232,300,000

Trepont Acquisition Corp I 10-K