Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Net Income (Loss) Per Share of Common Stock

The Company has two categories of shares, which are referred to as redeemable shares of common stock and non-redeemable shares of common stock. Earnings and losses are shared pro rata between the two categories of shares. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each category for the three and six months ended June 30, 2022 and 2021:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

Redeemable common
stock

 

 

Non-
redeemable common stock

 

 

Redeemable common
stock

 

 

Non-
redeemable common stock

 

 

Redeemable common
stock

 

 

Non-
redeemable common stock

 

 

Redeemable common
stock

 

 

Non-
redeemable common stock

 

Basic and diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income (loss)

 

$

2,150,495

 

 

$

537,624

 

 

$

(95,671

 

 

(23,918

 

$

3,124,684

 

 

$

781,171

 

 

$

(133,286

 

 

(36,257

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Shares Outstanding including common stock subject to redemption

 

 

27,600,000

 

 

 

6,900,000

 

 

 

27,600,000

 

 

 

6,900,000

 

 

 

27,600,000

 

 

 

6,900,000

 

 

 

25,365,746

 

 

 

6,900,000

 

Basic and diluted net income (loss) per share

 

$

0.08

 

 

$

0.08

 

 

$

(0.00

)

 

 

(0.00

)

 

$

0.11

 

 

$

0.11

 

 

$

(0.01

)

 

 

(0.01

)