EJF Acquisition 10-Q 18 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 18, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	EJF Acquisition Corp.
Entity Central Index Key	0001839434
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	true
Entity Small Business	true
Entity Emerging Growth Company	true
Entity File Number	001-40113
Entity Address, Address Line One	2107 Wilson Boulevard
Entity Address, Address Line Two	Suite 410
Entity Address, City or Town	Arlington
Entity Address, Postal Zip Code	22201
City Area Code	703
Local Phone Number	879-3292
Entity Tax Identification Number	98-1574021
Entity Incorporation, State or Country Code	E9
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Ex Transition Period	false
Entity Address, Country	VA
Common Class A [Member]
Document Information [Line Items]
Trading Symbol	EJFA
Title of 12(b) Security	Class A ordinary shares
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		28,750,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,187,500
Units [Member]
Document Information [Line Items]
Trading Symbol	EJFAU
Title of 12(b) Security	Units, each consisting of one Class A ordinary share
Security Exchange Name	NASDAQ
Redeemable Warrants [Member]
Document Information [Line Items]
Trading Symbol	EJFAW
Title of 12(b) Security	Redeemable Warrants included as part of the units,
Security Exchange Name	NASDAQ

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash on hand	$ 443,414
Deferred offering costs		$ 276,751
Prepaid Expenses	393,344
Total current assets	836,758	276,751
Prepaid expenses - Non-current	142,931
Cash and Investments held in Trust Account	287,574,207
Total assets	288,553,896	276,751
Current liabilities:
Accrued costs and expenses	792,256	255,288
Due to related party	322,000
Total current liabilities	1,114,256	255,288
Warrant liability	25,547,264
Deferred underwriters' discount	10,062,500
Total liabilities	36,724,020	255,288
Commitments
Ordinary shares subject to possible redemption	287,500,000
Shareholders' Equity:
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital		24,281
Accumulated deficit	(35,670,843)	(3,537)
Total shareholders' equity	(35,670,124)	21,463
Total Liabilities and Shareholders' Equity	288,553,896	276,751
Common Class A [Member]
Current liabilities:
Ordinary shares subject to possible redemption	287,500,000
Shareholders' Equity:
Common stock
Total shareholders' equity	0
Common Class B [Member]
Shareholders' Equity:
Common stock	719	719
Total shareholders' equity	$ 719	$ 719

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 01, 2021	Dec. 31, 2020
Temporary equity shares outstanding	28,750,000	28,750,000	28,750,000	28,750,000	0
Preferred stock par or stated value per share	$ 0.0001				$ 0.0001
Preferred stock shares authorized	5,000,000				5,000,000
Preferred stock shares issued	0				0
Preferred stock shares outstanding	0				0
Common Class A [Member]
Temporary equity shares outstanding	28,750,000
Common stock par or stated value per share	$ 0.0001				$ 0.0001
Common stock shares authorized	500,000,000				500,000,000
Common Class B [Member]
Common stock par or stated value per share	$ 0.0001				$ 0.0001
Common stock shares authorized	50,000,000				50,000,000
Common stock shares issued	7,187,500				7,187,500
Common stock shares outstanding	7,187,500				7,187,500

Condensed Statement of Operatio

Condensed Statement of Operations - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Formation and operating costs	$ 1,208,966	$ 1,495,252
Loss from operations	(1,208,966)	(1,495,252)
Other loss
Bank interest income	12	31
Interest income on marketable securities held in trust	28,794	74,208
Offering cost allocated to warrants		(862,470)
Excess of Private Placement Warrants fair value over purchase price		(1,242,401)
Change in fair value of warrants liability	(12,400,851)	(1,502,636)
Total other loss	(12,372,045)	(3,533,268)
Net loss	$ (13,581,011)	$ (5,028,520)
Ordinary Share Subject to Possible Redemption [Member]
Other loss
Weighted average shares outstanding, basic and diluted	28,750,000	22,431,319
Basic and diluted net loss per share	$ (0.38)	$ (0.17)
Non-Redeemable Ordinary Shares [Member]
Other loss
Weighted average shares outstanding, basic and diluted	7,187,500	6,981,456
Basic and diluted net loss per share	$ (0.38)	$ (0.17)

Condensed Statement of Changes

Condensed Statement of Changes In Shareholders' Equity - USD ($)	Total	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Class A Ordinary Shares [Member]	Class B Ordinary Shares [Member]
Beginning balance at Dec. 31, 2020	$ 21,463	$ 24,281	$ (3,537)		$ 719
Beginning balance, shares at Dec. 31, 2020					7,187,500
Subsequent remeasurement under ASC 480-10-S99	(30,663,067)	(24,281)	(30,638,786)
Net Income (Loss)	7,301,955		7,301,955
Ending balance at Mar. 31, 2021	(23,339,649)	0	(23,340,368)	$ 0	$ 719
Ending balance, shares at Mar. 31, 2021				0	7,187,500
Beginning balance at Dec. 31, 2020	21,463	24,281	(3,537)		$ 719
Beginning balance, shares at Dec. 31, 2020					7,187,500
Net Income (Loss)	(5,028,520)
Ending balance at Sep. 30, 2021	(35,670,124)	0	(35,670,843)	$ 0	$ 719
Ending balance, shares at Sep. 30, 2021				0	7,187,500
Beginning balance at Mar. 31, 2021	(23,339,649)	0	(23,340,368)	$ 0	$ 719
Beginning balance, shares at Mar. 31, 2021				0	7,187,500
Net Income (Loss)	1,250,536		1,250,536
Ending balance at Jun. 30, 2021	(22,089,113)	0	(22,089,832)	$ 0	$ 719
Ending balance, shares at Jun. 30, 2021				0	7,187,500
Net Income (Loss)	(13,581,011)		(13,581,011)
Ending balance at Sep. 30, 2021	$ (35,670,124)	$ 0	$ (35,670,843)	$ 0	$ 719
Ending balance, shares at Sep. 30, 2021				0	7,187,500

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows	9 Months Ended
	Sep. 30, 2021USD ($)
Cash flows from operating activities:
Net loss	$ (5,028,520)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest earned on cash and Investments held in Trust Account	(74,208)
Offering costs allocated to warrants	862,470
Excess of Private Placement Warrants fair value over purchase price	1,242,401
Change in fair value of warrant liability	1,502,636
Changes in current assets and liabilities:
Prepaid assets	(536,275)
Accrued costs and expenses	718,720
Due to related party	322,000
Net cash used in operating activities	(990,776)
Cash Flows from Investing Activities:
Investment held in Trust Account	(287,500,000)
Net cash used in investing activities	(287,500,000)
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriters' discount	281,750,000
Proceeds from issuance of Private Placement Warrants	7,750,000
Proceeds of Promissory Note - Related Party	200,000
Payment of Promissory Note - Related Party	(200,000)
Payments of offering costs	(565,810)
Net cash provided by financing activities	288,934,190
Net change in cash	443,414
Cash, beginning of the period	0
Cash, end of the period	443,414
Supplemental disclosure of cash flow information:
Initial classification of warrant liability	22,802,227
Initial classification of Class A ordinary shares subject to possible redemption	287,500,000
Deferred underwriting commissions charged to additional paid in capital	$ 10,062,500

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Operations	Note 1 — Organization and Business Operations EJF Acquisition Corp. (the “Company”), was incorporated as a Cayman Islands exempted company on December 22, 2020. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies. As of September 30, 2021, the Company had not commenced any operations. All activity through September 30, 2021 relates to the Company’s formation, the initial public offering (“IPO”), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination and the potential acquisition, with Pagaya Technologies Ltd. as more fully described in Note 7. The Company believes it will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in Financing The registration statement for the Company’s IPO was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 24, 2021. On March 1, 2021, the Company consummated the IPO of 28,750,000 units (the “Units”), including 3,750,000 Units sold pursuant to the full exercise of the underwriters’ option to purchase additional units to cover over-allotments, at $10.00 per Unit, generating gross proceeds of $287,500,000, which is discussed in Note 4. Each Unit consists of one Class A ordinary share and one-third Simultaneously with the closing of the IPO, the Company consummated the sale of 5,166,667 Private Placement Warrants (the “Private Placement Warrants” and, together with the Public Warrants, the “Warrants”) to the Company’s Sponsor Wilson Boulevard LLC, at a price of $1.50 per Private Placement Warrant, generating total gross proceeds of $7,750,000, which is discussed in Note 5. Transaction costs of the IPO amounted to $16,473,310 consisting of $5,750,000 of underwriting discount, $10,062,500 of deferred underwriting discount, and $660,810 of other offering costs. Trust Account Following the closing of the IPO on March 1, 2021, $287,500,000 (approximately $10.00 per Unit) from the net proceeds of the sale of the Units in the IPO, with a portion of the proceeds from the sale of the Private Placement Warrants, was deposited in a trust account (“Trust Account”) located in the United States, with Continental Stock Transfer & Trust Company acting as trustee, and is invested only in U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under Initial Business Combination The Company will provide shareholders (the “Public Shareholders”) of its Class A ordinary shares, par value $0.0001, sold in the IPO (the “Public Shares”), with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) without a shareholder vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination at a per-share price, payable 5 The Company will have only 24 months from March 1, 2021, the closing of the IPO, to complete an initial Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Public Shares, at a per-share price, The Sponsor, officers and directors have agreed to (i) waive their redemption rights with respect to their Founder Shares (as defined below) and Public Shares they hold in connection with the completion of the initial Business Combination, (ii) waive their redemption rights with respect to their Founder Shares and Public Shares they hold in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of its Public Shares if the Company has not consummated an initial Business Combination within the Combination Period or during any Extension Period or (B) with respect to any other specified provisions relating to shareholders’ rights or pre-initial Business Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 pandemic Liquidity and Capital Resources As of September 30, 2021, the Company had $443,414 in its operating bank account and negative working capital of approximately $(277,498). In order to finance transaction costs in connection with an intended initial Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans, as defined below (see Note 6). To date, there were no amounts outstanding under any Working Capital Loans. Based on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination.

Restatement of Prior Period Fin

Restatement of Prior Period Financial Statements	9 Months Ended
	Sep. 30, 2021
Prior Period Adjustment [Abstract]
Restatement of Prior Period Financial Statements	Note 2 — Restatement of Prior Period Financial Statements In connection with the preparation of the Company’s financial statements as of September 30, 2021, management determined it should restate its previously reported financial statements. The Company previously determined common stock subject to possible redemption (“Public Shares”) to be equal to the redemption value of $10.00 per common stock while also taking into consideration its charter’s requirement that a redemption cannot result in net tangible assets being less than $5,000,001. Upon review of its financial statements for the period ended September 30, 2021, the Company reevaluated the classification of the Public Shares and determined that the Public Shares issued during the IPO and pursuant to the exercise of the underwriters’ overallotment can be redeemed or become redeemable subject to the occurrence of future events considered outside the Company’s control under ASC 480-10-S99. Therefore, management concluded that all of the Public Shares should be classified as temporary equity in its entirety. As a result, management has noted a reclassification adjustment related to temporary equity and permanent equity. This resulted in an adjustment to the initial carrying value of the Public Shares with the offset recorded to additional paid-in capital (to the extent available), accumulated deficit and common stock. In connection with the change in presentation for the Public Shares, the Company also revised its earnings per share calculation to allocate net income (loss) evenly to redeemable and nonredeemable common stock. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of ordinary shares share pro rata in the income (loss) of the Company. 6 In accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements;” the Company evaluated the changes and has determined that the related impact was material to any previously presented financial statements. Therefore, the Company, in consultation with its Audit Committee, concluded that its previously issued financial statements as of March 1, 2021, March 31, 2021 and June 30, 2021 should be restated because of a misapplication in the guidance around complex accounting for financial instruments and should no longer be relied upon. The Company is reporting the restatements Impact of the Restatement The impact of the restatement As Previously Adjustment As Restated Balance Sheet at March 1 Shares Subject to Redemption 249,841,522 37,658,478 287,500,000 Class A Ordinary shares 376 (376 ) — Additional Paid in Capital 7,121,336 (7,121,336 ) — Accumulated Deficit (2,122,421 ) (30,536,765 ) (32,659,186 ) Total Shareholders’ Equity 5,000,010 (37,658,477 ) (32,658,467 ) Number of shares subject to redemption 24,984,152 3,765,848 28,750,000 Balance Sheet at March 31, 2021 Shares Subject to Redemption 259,160,350 28,339,650 287,500,000 Class A Ordinary shares 283 (283 ) — Additional Paid in Capital (2,299,419 ) 2,299,419 — (Accumulated Deficit) Retained Earnings 7,298,418 (30,638,786 ) (23,340,368 ) Total Shareholders’ Equity 5,000,001 (28,339,650 ) (23,339,649 ) Number of shares subject to redemption 25,916,035 2,833,965 28,750,000 Balance Sheet at June 30, 2021 Shares Subject to Redemption 260,410,881 27,089,119 287,500,000 Class A Ordinary shares 270 (270 ) — Class B Ordinary shares 719 — 719 Additional Paid in Capital (3,549,937 ) 3,549,937 — (Accumulated Deficit) Retained Earnings 8,548,954 (30,638,786 ) (22,089,832 ) Total Shareholders’ Equity 5,000,006 (27,089,119 ) (22,089,113 ) Number of shares subject to redemption 26,041,088 2,708,912 28,750,000 Statement of Operations for three months ended March 31, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 24,984,152 (15,400,819 ) 9,583,333 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 8,442,783 (1,255,283 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.44 $ 0.44 EPS - Non-Redeemable $ 0.86 $ (0.42 ) $ 0.44 Statement of Operations for the three months ended June 30, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 25,916,035 2,833,965 28,750,000 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 10,021,465 (2,833,965 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.03 $ 0.03 EPS - Non-Redeemable $ 0.12 $ (0.09 ) $ 0.03 Statement of Operations for the six months ended June 30, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 17,170,628 2,048,985 19,219,613 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 9,236,485 (2,048,985 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.32 $ 0.32 EPS - Non-Redeemable $ 0.92 $ (0.60 ) $ 0.32 Statement of Cash Flows for three months ended March 31, 2021 Initial value of shares subject to possible redemption 249,841,522 37,658,478 287,500,000 Change in value of shares subject to possible redemption 9,318,828 (9,318,828 ) — Statement of Cash Flows for six months ended June 30, 2021 Initial value of shares subject to possible redemption 249,841,522 37,658,478 287,500,000 Change in value of shares subject to possible redemption 10,569,359 (10,569,359 ) — Statement of Changes In Shareholders’ Equity (Deficit) for the three months ended June 30, 2021 Remeasurement of Class A ordinary shares subject to possible redemption $ 1,250,518 $ 1,250,518 $ — Statement of Changes in Stockholders’ (Deficit) Equity for the three months ended March 31, 2021 Sale of 28,750,000 Units on March 1, 2021 through IPO $ 287,500,000 $ (287,500,000) $ — Sale of 5,166,667 Private Placement Warrants on March 1, 2021 to Sponsor $ 7,750,000 $ (7,750,000) $ — Underwriters’ discount $ (5,750,000) $ 5,750,000 $ — Deferred underwriters’ discount $ (10,062,500) $ 10,062,500 $ — Offering costs charged to the shareholders’ equity $ (660,810) $ 660,810 $ — Non-equity portion $ 862,470 $ (862,470) $ — Initial classification of public warrant liability $ (15,052,227) $ 15,052,227 $ Initial classification of private warrant liability $ (7,750,000) $ 7,750,000 $ Class A ordinary shares subject to possible redemption $ (259,160,350) $ 259,160,350 $ Subsequent remeasurement under ASC 480-10-S99 paid-in $ $ (30,663,067) $ (30,663,067)

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Form 8-K and the final prospectus filed by the Company with the SEC on March 5, 2021 and February 26, 2021, respectively. Emerging Growth Company Status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging Use of Estimates The preparation of the financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2021, and December 31, 2020, the company had $443,414 and $0 of cash equivalents, respectively. Marketable Securities Held in Trust Account At September 30, 2021, the assets held in the Trust Account were held in U.S. Treasury Bills with a maturity of 185 days or less and in money market funds which invest U.S. Treasury securities. During the three months and nine months ended September 30, 2021, the Company did not withdraw any of the interest income from the Trust Account to pay its tax obligations. The Company classifies its United States Treasury securities as held-to-maturity Held-to-maturity Held-to-maturity held-to-maturity A decline in the market value of held-to-maturity year-end, Premiums and discounts are amortized or accreted over the life of the related held-to-maturity Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of September 30, 2021, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 The Company allocates the offering costs between its Class A ordinary shares and Public Warrants using relative fair value method, with the offering costs allocated to the Public Warrants expensed immediately. Accordingly, as of September 30, 2021, offering costs in the aggregate of $862,470 have been charged to the Company’s statement of operations (consisting of $827,873 of underwriting discounts and $34,597 of other cash offering costs). Offering costs associated with the Class A ordinary shares have been charged to shareholders’ equity. Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in FASB ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. 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 uncertain future events. Accordingly, 28,750,000 Class A ordinary shares subject to possible redemption is presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable Class A ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares are affected by charges against additional paid in capital and accumulated deficit. Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2021, and December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Net loss The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Earnings and losses are shared pro rata between the two classes of shares. The 14,750,000 potential common shares for outstanding warrants to purchase the Company’s stock were excluded from diluted earnings per share for the three and nine months ended September 30, 2021 because the warrants are contingently exercisable, and the contingencies have not yet been met. As a result, diluted net loss loss loss For the Three Months Ended September 30, 2021 For the Nine Months Ended Class A Class B Class A Class B Basic and diluted net loss Numerator: Allocation of net loss $ (10,864,809 ) $ (2,716,202 ) $ (3,834,944 ) $ (1,193,576 ) Denominator: Weighted-average shares outstanding 28,750,000 7,187,500 22,431,319 6,981,456 Basic and diluted net loss $ (0.38 ) $ (0.38 ) $ (0.17 ) $ (0.17 ) Fair Value of Financial Instruments The Company follows the guidance in ASC 820, “Fair Value Measurement,” for its financial assets and liabilities that are re-measured non-financial re-measured The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 — Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means. Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at September 30, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: September 30, Quoted Significant Significant Liabilities: Warrant Liability – Public Warrants $ 15,716,667 $ 15,716,667 $ — $ — Warrant Liability – Private Warrants 9,830,597 — — 9,830,597 $ 25,547,264 $ 15,716,667 $ — $ 9,830,597 The Public Warrants were transferred out of Level 3 to Level 1 during the period as an exchange-traded price was, and still is, available. Transfers are recognized at the end of the period. There were no other transfers into or out of Level 3 during the n ine See Note 8 for additional information on the warrant liability measured at fair value. Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued non-current net-cash FASB ASC 470-20, Recent Accounting Standards In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. We are currently assessing the impact, if any, that ASU 2020-06 would have on our financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our condensed financial statements.

Initial Public Offering

Initial Public Offering	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Initial Public Offering	Note 4 — Initial Public Offering On March 1, 2021, the Company sold 28,750,000 Units, at a purchase price of $10.00 per Unit, which included the full exercise by the underwriters of the over-allotment option to purchase an additional 3,750,000 Units. Each Unit consists of one share of Class A ordinary shares and one-third All of the 28,750,000 Class A ordinary share sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s certificate of incorporation. In accordance with SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, The Class A ordinary share is subject to SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99. paid-in As of September 30, 2021, the ordinary share reflected on the balance sheet are reconciled in the following table: Gross proceeds from IPO $ 287,500,000 Less: Proceeds allocated to Public Warrants (15,052,227 ) Ordinary share issuance costs (15,610,840 ) Plus: Accretion of carrying value to redemption value 30,663,067 Contingently redeemable ordinary share $ 287,500,000

Private Placement

Private Placement	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Private Placement	Note 5 — Private Placement Simultaneously with the closing of the IPO, the Sponsor purchased an aggregate of 5,166,667 Private Placement Warrants at a price of $1.50 per Private Placement Warrant, for an aggregate purchase price of $7,750,000, in a private placement (the “Private Placement”). A portion of the proceeds from the Private Placement were added to the proceeds from the IPO held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. Private Placement Warrants The Private Placement Warrants will be identical to the warrants sold as part of the units in the IPO except that the Private Placement Warrants, so long as they are held by the initial shareholders or their respective permitted transferees, (i) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination, subject to certain exceptions and (ii) will not be redeemable by the Company, (iii) may be exercised on a cashless basis, and (iv) will be entitled to registration rights. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the warrants included in the units being sold in the IPO.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 6 — Related Party Transactions Founder Shares On December 24, 2020, the Sponsor paid $25,000, or approximately $0.003 per share, to cover certain offering costs of the Company in consideration for 7,187,500 Class B ordinary shares par value $0.0001 per share (the “Founder Shares”). Up to 937,500 Founder Shares were subject to forfeiture depending on the extent to which the over-allotment option was exercised by the underwriters. On March 1, 2021, the underwriters exercised their over-allotment option in full, hence, 937,500 Founder Shares are no longer subject to forfeiture. The Company’s initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares and any Class A ordinary shares issuable upon conversion thereof until the earlier to occur of: (i) one year after the completion of the initial Business Combination or (ii) subsequent to the initial Business Combination, (x) if the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share any 30-trading day Promissory Note — Related Party On December 24, 2020, the Sponsor agreed to loan the Company up to $300,000 to cover expenses related to the IPO pursuant to a promissory note (the “Note”). The Note was non-interest bearing and Due to Related Party As of September 30, 2021, the Company owed the Sponsor in the amount of $322,000, of which $2,000 represents the amount accrued for the administrative support services provided by Sponsor from date of the IPO through September 30, 2021 and $320,000 for due diligence expenses incurred on behalf of the Company. Working Capital Loans In order to finance transaction costs in connection with an intended Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors, may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of the Working Capital Loans may be convertible into Private Placement Warrants of the post Business Combination entity at a price of $1.50 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants. Except as set forth above, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the completion of the initial Business Combination, the Company does not expect to seek loans from parties other than the Sponsor or an affiliate of the Sponsor as the Company does not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in the Company’s Trust Account. Administrative Service Fee The Company agreed it will pay its Sponsor or an affiliate of the Sponsor thereof up to $10,000 per month for office space, utilities, secretarial and administrative support services. Upon completion of the initial Business Combination or the Company’s liquidation, it will cease paying these monthly fees. For the three months and nine months ended September 30, 2021, the Company has accrued $30,000 and $90,000 respectively of administrative service fee, which is included in formation and operating costs on the condensed statement of operations. Business Combination As described in Note 7, the Company has entered into a Merger Agreement with Pagaya. The Transaction includes approximately $288 million in gross proceeds from the Company’s cash in trust (assuming no redemptions) and $200 million in gross proceeds from a fully committed private placement in public equity (“PIPE”) from entities associated with the Company that will close concurrently with the Business Combination. Additional targeted financing transactions or assignments may be considered.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 — Commitments and Contingencies Registration Rights The holders of the (i) Founder Shares, which were issued in a private placement prior to the closing of the IPO, (ii) Private Placement Warrants, which will be issued in a private placement simultaneously with the closing of the IPO and the Class A ordinary shares underlying such Private Placement Warrants and (iii) Private Placement Warrants that may be issued upon conversion of Working Capital Loans will have registration rights to require the Company to register a sale of any of its securities held by them pursuant to a registration rights agreement. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the Company’s completion of its initial Business Combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriters had a 45-day option The underwriters are entitled to a deferred underwriting fee of 3.5% of the gross proceeds of the IPO, or $10,062,500 in the aggregate. The deferred fee will be payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes an initial Business Combination, subject to the terms of the underwriting agreement. Merger Agreement On September 15, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Pagaya Technologies Ltd., a company organized under the laws of Israel (“Pagaya”), and Rigel Merger Sub Inc., a Cayman Islands exempted company and a direct, wholly-owned subsidiary of Pagaya (“Merger Sub”). Pursuant to the Merger Agreement and subject to the terms and conditions set forth therein, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving company after the Merger (the “Surviving Company”). As a result of the Merger and the other transactions contemplated by the Merger Agreement (the “Transactions” or the “Business Combination”), the Company will become a direct, wholly-owned subsidiary of Pagaya. The Merger Agreement and the Transactions were unanimously approved by the boards of directors of each of EJFA and Pagaya. At the closing of the Business Combination and the effective time of the Merger (the “Effective Time”), the stockholders of the Company will receive certain of the common stock, no par value, of Pagaya (“Pagaya Common Stock”), and Pagaya will list as a publicly traded company on Nasdaq. The Merger Agreement contains customary representations, warranties and covenants by the parties thereto and the closing is subject to certain conditions as further described in the Merger Agreement.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2021
Warrants [Abstract]
Warrants	Note 8 — Warrants At September 30, 2021 and December 31, 2020, the Company had outstanding warrants to purchase an aggregate of 5,166,667 and 0 shares of the Company’s Class A ordinary shares issued in connection with the IPO and the Private Placement (including warrants issued in connection with the consummation of the over-allotment), respectively. The Public Warrants will become exercisable at $11.50 per share, subject to adjustment, at any time commencing 30 days after the completion of the initial Business Combination; provided that the Company has an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. The warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of the initial Business Combination, it will use its commercially reasonable efforts to file with the SEC a registration statement registering the sale, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance with the provisions of the warrant agreement. If a registration statement covering the transfer of Class A ordinary shares issuable upon exercise of the warrants is not effective by the 90th business day after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Company’s Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required to file or maintain an effective registration statement, and in the event the Company does not so elect, it will use its commercially reasonable efforts to register or qualify for sale the shares under applicable blue sky laws to the extent an exemption is not available. In such event, each holder would pay the exercise price for a warrant by surrendering each such warrant for that number of Class A ordinary shares equal to the lesser of (A) the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” (defined below) less the exercise price of the warrants by (y) the fair market value and (B) 0.361 shares per whole warrant. The “fair market value” shall mean the VWAP (as defined below) of the Class A ordinary shares for the 10 trading days ending on the trading day prior to the date on which the notice of exercise is received by the warrant agent. “VWAP” per share of the Company’s Class A ordinary shares on any trading day means the per share volume weighted average price as displayed under the heading Bloomberg VWAP on the Bloomberg (or, if Bloomberg ceases to publish such price, any successor service reasonably chosen by the company) page “VAP” (or its equivalent successor if such page is not available) in respect of the period from the open of trading on the relevant trading day until the close of trading on such trading day (or if such volume-weighted average price is unavailable, the market price of one Class A ordinary share on such trading day determined, using a volume weighted average method, by an independent financial advisor retained for such purpose by the company). “VWAP” for a period of multiple trading days means the volume-weighted average of the respective VWAPs for the trading days in such period. In no event will the Company be required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A ordinary share underlying such unit. Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00 Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described herein with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per warrant; • upon not less than 30 days’ prior written notice of redemption (the “30-day redemption • if, and only if, the last reported sale price of the Class A ordinary shares for any 20 trading days within a 30-trading day period Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $10.00 Once the warrants become exercisable, the Company may redeem the outstanding warrants: • in whole and not in part; • for cash at a price of $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares, based on the redemption date and the “fair market value” of our Class A ordinary shares (as defined above); and • if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant as described below). In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to its sponsor, directors or officers or their respective affiliates, without taking into account any Founder Shares held by the initial shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the VWAP of the Company’s Class A ordinary shares during the 10-trading day period The warrant agreement contains an alternative issuance provision that if less than 70% of the consideration receivable by the holders of the Ordinary Shares in the Business Combination is payable in the form of shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter ten-day The Company believes that the adjustments to the exercise price of the warrants is based on a variable that is not an input to the fair value of a “fixed-for-fixed” The Warrants are accounted for as liabilities in accordance with ASC 815-40 The fair value of the Private Placement Warrants was determined by the Company using a model by a third-party valuation agent. The valuation model utilizes inputs such as assumed share prices, volatility, discount factors and other assumptions and may not be reflective of the price at which they can be settled at Level 3. The following table provides quantitative information regarding Level 3 fair value measurements as of September 30, 2021: September 30, 2021 Exercise price $ 11.50 Share price $ 9.83 Volatility 26 % Expected life of the options to convert 5.00 Risk-free rate 1.15 % Dividend yield 0.0 %

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Shareholders' Equity	Note 9 — Shareholders’ Equity Preference Shares Class A Ordinary Shares ex Class B Ordinary Shares Holders of the Class A ordinary shares and holders of the Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders, except as required by law or the rules of The Nasdaq Stock Market LLC then in effect. Unless specified in the Company’s amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act (2020 Revision) of the Cayman Islands or applicable stock exchange rules, the affirmative vote of a majority of the Company’s ordinary shares that are voted is required to approve any such matter voted on by its shareholders. The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination on a one-for-one basis, subject sub-divisions, less than one-for-one basis.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 10 — Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the unaudited condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected through December 31, 2021. The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Form 8-K and the final prospectus filed by the Company with the SEC on March 5, 2021 and February 26, 2021, respectively.
Emerging Growth Company Status	Emerging Growth Company Status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2021, and December 31, 2020, the company had $443,414 and $0 of cash equivalents, respectively.
Marketable Securities Held in Trust Account	Marketable Securities Held in Trust Account At September 30, 2021, the assets held in the Trust Account were held in U.S. Treasury Bills with a maturity of 185 days or less and in money market funds which invest U.S. Treasury securities. During the three months and nine months ended September 30, 2021, the Company did not withdraw any of the interest income from the Trust Account to pay its tax obligations. The Company classifies its United States Treasury securities as held-to-maturity Held-to-maturity Held-to-maturity held-to-maturity A decline in the market value of held-to-maturity year-end, Premiums and discounts are amortized or accreted over the life of the related held-to-maturity
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of September 30, 2021, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.
Offering Costs Associated with the Initial Public Offering	Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 The Company allocates the offering costs between its Class A ordinary shares and Public Warrants using relative fair value method, with the offering costs allocated to the Public Warrants expensed immediately. Accordingly, as of September 30, 2021, offering costs in the aggregate of $862,470 have been charged to the Company’s statement of operations (consisting of $827,873 of underwriting discounts and $34,597 of other cash offering costs). Offering costs associated with the Class A ordinary shares have been charged to shareholders’ equity.
Class A Ordinary Shares Subject to Possible Redemption	Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in FASB ASC Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption (if any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable Class A ordinary shares (including Class A ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, Class A ordinary shares are classified as shareholders’ equity. 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 uncertain future events. Accordingly, 28,750,000 Class A ordinary shares subject to possible redemption is presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet, respectively. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable Class A ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares are affected by charges against additional paid in capital and accumulated deficit.
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2021, and December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
Net loss Per Ordinary Share	Net loss The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Earnings and losses are shared pro rata between the two classes of shares. The 14,750,000 potential common shares for outstanding warrants to purchase the Company’s stock were excluded from diluted earnings per share for the three and nine months ended September 30, 2021 because the warrants are contingently exercisable, and the contingencies have not yet been met. As a result, diluted net loss loss loss For the Three Months Ended September 30, 2021 For the Nine Months Ended Class A Class B Class A Class B Basic and diluted net loss Numerator: Allocation of net loss $ (10,864,809 ) $ (2,716,202 ) $ (3,834,944 ) $ (1,193,576 ) Denominator: Weighted-average shares outstanding 28,750,000 7,187,500 22,431,319 6,981,456 Basic and diluted net loss $ (0.38 ) $ (0.38 ) $ (0.17 ) $ (0.17 )
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company follows the guidance in ASC 820, “Fair Value Measurement,” for its financial assets and liabilities that are re-measured non-financial re-measured The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these securities does not entail a significant degree of judgment. Level 2 — Valuations based on (i) quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally from or corroborated by market through correlation or other means. Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at September 30, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: September 30, Quoted Significant Significant Liabilities: Warrant Liability – Public Warrants $ 15,716,667 $ 15,716,667 $ — $ — Warrant Liability – Private Warrants 9,830,597 — — 9,830,597 $ 25,547,264 $ 15,716,667 $ — $ 9,830,597 The Public Warrants were transferred out of Level 3 to Level 1 during the period as an exchange-traded price was, and still is, available. Transfers are recognized at the end of the period. There were no other transfers into or out of Level 3 during the n ine See Note 8 for additional information on the warrant liability measured at fair value.
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued non-current net-cash FASB ASC 470-20,
Recent Accounting Standards	Recent Accounting Standards In August 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. We are currently assessing the impact, if any, that ASU 2020-06 would have on our financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our condensed financial statements.

Restatement of Prior Period F_2

Restatement of Prior Period Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Summary of Revision of Prior Period Financial Statements	As Previously Adjustment As Restated Balance Sheet at March 1 Shares Subject to Redemption 249,841,522 37,658,478 287,500,000 Class A Ordinary shares 376 (376 ) — Additional Paid in Capital 7,121,336 (7,121,336 ) — Accumulated Deficit (2,122,421 ) (30,536,765 ) (32,659,186 ) Total Shareholders’ Equity 5,000,010 (37,658,477 ) (32,658,467 ) Number of shares subject to redemption 24,984,152 3,765,848 28,750,000 Balance Sheet at March 31, 2021 Shares Subject to Redemption 259,160,350 28,339,650 287,500,000 Class A Ordinary shares 283 (283 ) — Additional Paid in Capital (2,299,419 ) 2,299,419 — (Accumulated Deficit) Retained Earnings 7,298,418 (30,638,786 ) (23,340,368 ) Total Shareholders’ Equity 5,000,001 (28,339,650 ) (23,339,649 ) Number of shares subject to redemption 25,916,035 2,833,965 28,750,000 Balance Sheet at June 30, 2021 Shares Subject to Redemption 260,410,881 27,089,119 287,500,000 Class A Ordinary shares 270 (270 ) — Class B Ordinary shares 719 — 719 Additional Paid in Capital (3,549,937 ) 3,549,937 — (Accumulated Deficit) Retained Earnings 8,548,954 (30,638,786 ) (22,089,832 ) Total Shareholders’ Equity 5,000,006 (27,089,119 ) (22,089,113 ) Number of shares subject to redemption 26,041,088 2,708,912 28,750,000 Statement of Operations for three months ended March 31, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 24,984,152 (15,400,819 ) 9,583,333 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 8,442,783 (1,255,283 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.44 $ 0.44 EPS - Non-Redeemable $ 0.86 $ (0.42 ) $ 0.44 Statement of Operations for the three months ended June 30, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 25,916,035 2,833,965 28,750,000 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 10,021,465 (2,833,965 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.03 $ 0.03 EPS - Non-Redeemable $ 0.12 $ (0.09 ) $ 0.03 Statement of Operations for the six months ended June 30, 2021 Basic and diluted weighted average shares outstanding, ordinary shares subject to redemption 17,170,628 2,048,985 19,219,613 Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption 9,236,485 (2,048,985 ) 7,187,500 EPS - Redeemable Shares $ — $ 0.32 $ 0.32 EPS - Non-Redeemable $ 0.92 $ (0.60 ) $ 0.32 Statement of Cash Flows for three months ended March 31, 2021 Initial value of shares subject to possible redemption 249,841,522 37,658,478 287,500,000 Change in value of shares subject to possible redemption 9,318,828 (9,318,828 ) — Statement of Cash Flows for six months ended June 30, 2021 Initial value of shares subject to possible redemption 249,841,522 37,658,478 287,500,000 Change in value of shares subject to possible redemption 10,569,359 (10,569,359 ) — Statement of Changes In Shareholders’ Equity (Deficit) for the three months ended June 30, 2021 Remeasurement of Class A ordinary shares subject to possible redemption $ 1,250,518 $ 1,250,518 $ — Statement of Changes in Stockholders’ (Deficit) Equity for the three months ended March 31, 2021 Sale of 28,750,000 Units on March 1, 2021 through IPO $ 287,500,000 $ (287,500,000) $ — Sale of 5,166,667 Private Placement Warrants on March 1, 2021 to Sponsor $ 7,750,000 $ (7,750,000) $ — Underwriters’ discount $ (5,750,000) $ 5,750,000 $ — Deferred underwriters’ discount $ (10,062,500) $ 10,062,500 $ — Offering costs charged to the shareholders’ equity $ (660,810) $ 660,810 $ — Non-equity portion $ 862,470 $ (862,470) $ — Initial classification of public warrant liability $ (15,052,227) $ 15,052,227 $ Initial classification of private warrant liability $ (7,750,000) $ 7,750,000 $ Class A ordinary shares subject to possible redemption $ (259,160,350) $ 259,160,350 $ Subsequent remeasurement under ASC 480-10-S99 paid-in $ $ (30,663,067) $ (30,663,067)

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Basic And Diluted Loss Per Share	The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net loss For the Three Months Ended September 30, 2021 For the Nine Months Ended Class A Class B Class A Class B Basic and diluted net loss Numerator: Allocation of net loss $ (10,864,809 ) $ (2,716,202 ) $ (3,834,944 ) $ (1,193,576 ) Denominator: Weighted-average shares outstanding 28,750,000 7,187,500 22,431,319 6,981,456 Basic and diluted net loss $ (0.38 ) $ (0.38 ) $ (0.17 ) $ (0.17 )
Summary of Liabilities That Are Measured At Fair Value On a Recurring Basis	The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at September 30, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: September 30, Quoted Significant Significant Liabilities: Warrant Liability – Public Warrants $ 15,716,667 $ 15,716,667 $ — $ — Warrant Liability – Private Warrants 9,830,597 — — 9,830,597 $ 25,547,264 $ 15,716,667 $ — $ 9,830,597

Initial Public Offering (Tables

Initial Public Offering (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Summary of Reconciliation Of Balance Sheet	As of September 30, 2021, the ordinary share reflected on the balance sheet are reconciled in the following table: Gross proceeds from IPO $ 287,500,000 Less: Proceeds allocated to Public Warrants (15,052,227 ) Ordinary share issuance costs (15,610,840 ) Plus: Accretion of carrying value to redemption value 30,663,067 Contingently redeemable ordinary share $ 287,500,000

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2021
Warrants [Abstract]
Summary of Quantitative Information Regarding Level 3 Fair Value Measurements	The following table provides quantitative information regarding Level 3 fair value measurements as of September 30, 2021: September 30, 2021 Exercise price $ 11.50 Share price $ 9.83 Volatility 26 % Expected life of the options to convert 5.00 Risk-free rate 1.15 % Dividend yield 0.0 %

Organization and Business Ope_2

Organization and Business Operations - Additional Information (Detail) - USD ($)	Mar. 01, 2021	Sep. 30, 2021	Dec. 31, 2020
Organization And Business Operations [Line Items]
Entity incorporation, date of incorporation		Dec. 22, 2020
Stock issued during period shares	28,750,000
Proceeds from issuance of IPO		$ 281,750,000
Exercise price of warrant		$ 11.50
Proceeds from issuance of warrants		$ 7,750,000
Restricted investments term		185 days
Lock in period for redemption of public shares after closing of IPO		24 months
Percentage of public shares to be redeemed on non completion of business combination		100.00%
Dissolution expense		$ 100,000
Cash		443,414
Sponsor [Member]
Organization And Business Operations [Line Items]
Cash		443,414
Working capital (deficit)		$ (277,498)
Private Placement Warrants [Member] | Sponsor [Member]
Organization And Business Operations [Line Items]
Class of warrants and rights issued during the period	5,166,667	5,166,667
Class of warrants and rights issued, price per warrant	$ 1.50	$ 1.50
Proceeds from issuance of warrants	$ 7,750,000	$ 7,750,000
IPO [Member]
Organization And Business Operations [Line Items]
Stock issuance costs	16,473,310
Payments for underwriting expenses	5,750,000
Deferred underwriting fees	10,062,500	$ 10,062,500
Other offering costs	$ 660,810
Common stock par or stated value per share		$ 0.0001
Over-Allotment Option [Member]
Organization And Business Operations [Line Items]
Stock issued during period shares	3,750,000
Common Class A [Member]
Organization And Business Operations [Line Items]
Proceeds from issuance of IPO		$ 287,500,000
Proceeds from issuance of warrants		$ 15,052,227
Common stock par or stated value per share		$ 0.0001	$ 0.0001
Common Class A [Member] | Public Warrants [Member]
Organization And Business Operations [Line Items]
Stock conversion basis	Each Unit consists of one share of Class A ordinary shares and one-third of one redeemable warrant	Each Unit consists of one Class A ordinary share and one-third of one redeemable warrant
Exercise price of warrant	$ 11.50
Common Class A [Member] | IPO [Member]
Organization And Business Operations [Line Items]
Stock issued during period shares	28,750,000
Shares issued price per share	$ 10
Proceeds from issuance of IPO	$ 287,500,000
Common Class A [Member] | Over-Allotment Option [Member]
Organization And Business Operations [Line Items]
Stock issued during period shares	3,750,000

Restatement of Prior Period F_3

Restatement of Prior Period Financial Statements - Summary of Revision of Prior Period Financial Statements (Detail) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021	Mar. 01, 2021	Dec. 31, 2020
Liabilities and shareholders' equity
Shares Subject to Redemption	$ 287,500,000	$ 287,500,000	$ 287,500,000	$ 287,500,000	$ 287,500,000	$ 287,500,000
Shareholders' Equity:
Additional paid-in-capital		0	0	0		0	$ 24,281
Accumulated deficit	(35,670,843)	(22,089,832)	(23,340,368)	(22,089,832)	(35,670,843)	(32,659,186)	(3,537)
Total shareholders' equity	$ (35,670,124)	$ (22,089,113)	$ (23,339,649)	$ (22,089,113)	$ (35,670,124)	$ (32,658,467)	$ 21,463
Number of shares subject to redemption	28,750,000	28,750,000	28,750,000	28,750,000	28,750,000	28,750,000	0
Statement of Operations:
Basic and diluted weighted average shares outstanding		28,750,000	9,583,333	19,219,613
Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption		7,187,500	7,187,500	7,187,500
EPS - Redeemable Shares		$ 0.03	$ 0.44	$ 0.32
EPS - Non-Redeemable Shares		$ 0.03	$ 0.44	$ 0.32
Statement of Cash Flows [Abstract]
Initial value of shares subject to possible redemption			$ 287,500,000	$ 287,500,000
Change in value of shares subject to possible redemption			0	0
Remeasurement of Class A ordinary shares subject to possible redemption		$ 0
Statement Of Stockholders Equity [Abstract]
Sale of 28,750,000 Units on March 1, 2021 through IPO			0
Sale of 5,166,667 Private Placement Warrants on March 1, 2021 to Sponsor			0
Underwriters' discount			0
Deferred underwriters' discount			0
Offering costs charged to the shareholders' equity			0
Non-equity portion of offering costs charged to expense			0
Subsequent remeasurement under ASC 480-10-S99 against additional paid-in capital and accumulated deficit			(30,663,067)
Common Class A [Member]
Liabilities and shareholders' equity
Shares Subject to Redemption	$ 287,500,000				$ 287,500,000
Shareholders' Equity:
Common stock		0	0	0		$ 0
Total shareholders' equity	$ 0	0	0	0	$ 0
Number of shares subject to redemption	28,750,000				28,750,000
Statement of Operations:
Basic and diluted weighted average shares outstanding	28,750,000				22,431,319
EPS - Redeemable Shares	$ (0.38)				$ (0.17)
Common Class B [Member]
Shareholders' Equity:
Common stock	$ 719	719		719	$ 719		$ 719
Total shareholders' equity	$ 719	719	719	719	$ 719		$ 719
Statement of Operations:
Basic and diluted weighted average shares outstanding	7,187,500				6,981,456
EPS - Redeemable Shares	$ (0.38)				$ (0.17)
As Previously Reported [Member]
Liabilities and shareholders' equity
Shares Subject to Redemption		260,410,881	259,160,350	260,410,881		249,841,522
Shareholders' Equity:
Additional paid-in-capital		(3,549,937)	(2,299,419)	(3,549,937)		7,121,336
Accumulated deficit		8,548,954	7,298,418	8,548,954		(2,122,421)
Total shareholders' equity		$ 5,000,006	$ 5,000,001	$ 5,000,006		$ 5,000,010
Number of shares subject to redemption		26,041,088	25,916,035	26,041,088		24,984,152
Statement of Operations:
Basic and diluted weighted average shares outstanding		25,916,035	24,984,152	17,170,628
Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption		10,021,465	8,442,783	9,236,485
EPS - Redeemable Shares		$ 0	$ 0	$ 0
EPS - Non-Redeemable Shares		$ 0.12	$ 0.86	$ 0.92
Statement of Cash Flows [Abstract]
Initial value of shares subject to possible redemption			$ 249,841,522	$ 249,841,522
Change in value of shares subject to possible redemption			9,318,828	10,569,359
Remeasurement of Class A ordinary shares subject to possible redemption		$ 1,250,518
Statement Of Stockholders Equity [Abstract]
Sale of 28,750,000 Units on March 1, 2021 through IPO			287,500,000
Sale of 5,166,667 Private Placement Warrants on March 1, 2021 to Sponsor			7,750,000
Underwriters' discount			(5,750,000)
Deferred underwriters' discount			(10,062,500)
Offering costs charged to the shareholders' equity			(660,810)
Non-equity portion of offering costs charged to expense			862,470
Class A ordinary shares subject to possible redemption			(259,160,350)
As Previously Reported [Member] | Public Warrants [Member]
Statement Of Stockholders Equity [Abstract]
Warrant liability			(15,052,227)
As Previously Reported [Member] | Private Warrant [Member]
Statement Of Stockholders Equity [Abstract]
Warrant liability			(7,750,000)
As Previously Reported [Member] | Common Class A [Member]
Shareholders' Equity:
Common stock		270	283	270		$ 376
As Previously Reported [Member] | Common Class B [Member]
Shareholders' Equity:
Common stock		719		719
Restatement Adjustment [Member]
Liabilities and shareholders' equity
Shares Subject to Redemption		27,089,119	28,339,650	27,089,119		37,658,478
Shareholders' Equity:
Additional paid-in-capital		3,549,937	2,299,419	3,549,937		(7,121,336)
Accumulated deficit		(30,638,786)	(30,638,786)	(30,638,786)		(30,536,765)
Total shareholders' equity		$ (27,089,119)	$ (28,339,650)	$ (27,089,119)		$ (37,658,477)
Number of shares subject to redemption		2,708,912	2,833,965	2,708,912		3,765,848
Statement of Operations:
Basic and diluted weighted average shares outstanding		2,833,965	(15,400,819)	2,048,985
Basic and diluted weighted average shares outstanding, ordinary shares not subject to redemption		(2,833,965)	(1,255,283)	(2,048,985)
EPS - Redeemable Shares		$ 0.03	$ 0.44	$ 0.32
EPS - Non-Redeemable Shares		$ (0.09)	$ (0.42)	$ (0.60)
Statement of Cash Flows [Abstract]
Initial value of shares subject to possible redemption			$ 37,658,478	$ 37,658,478
Change in value of shares subject to possible redemption			(9,318,828)	(10,569,359)
Remeasurement of Class A ordinary shares subject to possible redemption		$ 1,250,518
Statement Of Stockholders Equity [Abstract]
Sale of 28,750,000 Units on March 1, 2021 through IPO			(287,500,000)
Sale of 5,166,667 Private Placement Warrants on March 1, 2021 to Sponsor			(7,750,000)
Underwriters' discount			5,750,000
Deferred underwriters' discount			10,062,500
Offering costs charged to the shareholders' equity			660,810
Non-equity portion of offering costs charged to expense			(862,470)
Class A ordinary shares subject to possible redemption			259,160,350
Subsequent remeasurement under ASC 480-10-S99 against additional paid-in capital and accumulated deficit			(30,663,067)
Restatement Adjustment [Member] | Public Warrants [Member]
Statement Of Stockholders Equity [Abstract]
Warrant liability			15,052,227
Restatement Adjustment [Member] | Private Warrant [Member]
Statement Of Stockholders Equity [Abstract]
Warrant liability			7,750,000
Restatement Adjustment [Member] | Common Class A [Member]
Shareholders' Equity:
Common stock		270	$ 283	270		$ 376
Restatement Adjustment [Member] | Common Class B [Member]
Shareholders' Equity:
Common stock		$ 0		$ 0

Restatement of Previously Issue

Restatement of Previously Issued Financial Statements - Summary of Restatement of Previously Issued Financial Statements (Parenthetical) (Detail)	Mar. 01, 2021shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sale of units, Shares	28,750,000
Private Placement Warrants [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock issued during Period, shares, issued for services	5,166,667

Revision of Prior Period Financ

Revision of Prior Period Financial Statements - Additional Information (Detail)	Sep. 30, 2021USD ($)$ / shares
Redemption price per share | $ / shares	$ 10
Minimum [Member]
Minimum tangible assets for business combination | $	$ 5,000,001

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 01, 2021	Dec. 31, 2020
Cash equivalents	$ 443,414	$ 443,414				$ 0
Restricted investments term		185 days
Interest income earned on securities held in the trust account	0	$ 0
FDIC insured amount	250,000	250,000
Unrecognized tax benefits	0	0				0
Accrued for interest and penalties	$ 0	$ 0				$ 0
Temporary equity shares outstanding	28,750,000	28,750,000	28,750,000	28,750,000	28,750,000	0
Fair value of the held-to-maturity securities	$ 287,579,350	$ 287,579,350
Unrealized loss amortized cost	6,531	6,531
Public Warrants [Member]
Cash offering costs		862,470
Underwriting Discounts		827,873
Other cash offering costs		34,597
IPO [Member]
Offering costs		16,473,310
Underwriting commissions		5,750,000
Deferred underwriters communication	$ 10,062,500	10,062,500
Cash offering costs		$ 660,810
Common Class A [Member]
Temporary equity shares outstanding	28,750,000	28,750,000
Warrant [Member]
Antidilutive securities excluded from computation of earnings per share	14,750,000	14,750,000

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Basic And Diluted Loss Per Share (Detail) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021
Denominator: Weighted Average Non-Redeemable Ordinary Shares
Basic and diluted weighted average shares outstanding		28,750,000	9,583,333	19,219,613
Basic and diluted net loss per share		$ 0.03	$ 0.44	$ 0.32
Common Class A [Member]
Numerator :Basic and diluted net loss per stock
Net loss allocable to shares subject to possible redemption	$ (10,864,809)				$ (3,834,944)
Denominator: Weighted Average Non-Redeemable Ordinary Shares
Basic and diluted weighted average shares outstanding	28,750,000				22,431,319
Basic and diluted net loss per share	$ (0.38)				$ (0.17)
Common Class B [Member]
Numerator :Basic and diluted net loss per stock
Net loss allocable to shares subject to possible redemption	$ (2,716,202)				$ (1,193,576)
Denominator: Weighted Average Non-Redeemable Ordinary Shares
Basic and diluted weighted average shares outstanding	7,187,500				6,981,456
Basic and diluted net loss per share	$ (0.38)				$ (0.17)

Significant Accounting Polici_6

Significant Accounting Policies - Summary Of Assets And Liabilities That Are Measured At Fair Value On A Recurring Basis (Detail)	Sep. 30, 2021USD ($)
Liabilities:
Warrant Liability	$ 25,547,264
Public Warrants [Member]
Liabilities:
Warrant Liability	15,716,667
Private Placement Warrants [Member]
Liabilities:
Warrant Liability	9,830,597
Fair Value, Recurring [Member] | Quoted Prices In Active Markets (Level 1) [Member]
Liabilities:
Warrant Liability	15,716,667
Fair Value, Recurring [Member] | Quoted Prices In Active Markets (Level 1) [Member] | Public Warrants [Member]
Liabilities:
Warrant Liability	15,716,667
Fair Value, Recurring [Member] | Quoted Prices In Active Markets (Level 1) [Member] | Private Placement Warrants [Member]
Liabilities:
Warrant Liability	0
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Warrant Liability	0
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Warrants [Member]
Liabilities:
Warrant Liability	0
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Private Placement Warrants [Member]
Liabilities:
Warrant Liability	0
Fair Value, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member]
Liabilities:
Warrant Liability	9,830,597
Fair Value, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Public Warrants [Member]
Liabilities:
Warrant Liability	0
Fair Value, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Private Placement Warrants [Member]
Liabilities:
Warrant Liability	$ 9,830,597

Initial Public Offering - Addit

Initial Public Offering - Additional Information (Detail) - $ / shares	Mar. 01, 2021	Sep. 30, 2021
Stock issued during period shares	28,750,000
Common Class A [Member] | Public Warrants [Member]
Stock conversion basis	Each Unit consists of one share of Class A ordinary shares and one-third of one redeemable warrant	Each Unit consists of one Class A ordinary share and one-third of one redeemable warrant
IPO [Member] | Common Class A [Member]
Stock issued during period shares	28,750,000
Shares issued price per share	$ 10
Proceeds from issuance of IPO	3,750,000

Initial Public Offering - Summa

Initial Public Offering - Summary of Reconciliation of Balance Sheet (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 01, 2021
Gross proceeds from IPO	$ 281,750,000
Proceeds allocated to Public Warrants	7,750,000
Ordinary share issuance costs	565,810
Contingently redeemable ordinary share	287,500,000	$ 287,500,000	$ 287,500,000	$ 287,500,000
Common Class A [Member]
Gross proceeds from IPO	287,500,000
Proceeds allocated to Public Warrants	15,052,227
Ordinary share issuance costs	15,610,840
Accretion of carrying value to redemption value	30,663,067
Contingently redeemable ordinary share	$ 287,500,000

Private Placement - Additional

Private Placement - Additional Information (Detail) - USD ($)	Mar. 01, 2021	Sep. 30, 2021
Proceeds from issuance of warrants		$ 7,750,000
Private Placement Warrants [Member] | Sponsor [Member]
Class of warrants and rights issued during the period	5,166,667	5,166,667
Class of warrants and rights issued, price per warrant	$ 1.50	$ 1.50
Proceeds from issuance of warrants	$ 7,750,000	$ 7,750,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Mar. 01, 2021	Dec. 24, 2020	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Stock sale price threshold limit			$ 12	$ 12
Amount agreed to cover expenses related to the Initial Public Offering		$ 300,000
Amount agreed to pay per month for office space, administrative and support services				$ 10,000
Common stock shares subject to forfeiture		937,500
Proceeds from unsecured and non-interest bearing promissory note	$ 200,000
Shares no longer subject to forfeiture	937,500
Merger Agreement with Pagaya [Member]
Related Party Transaction [Line Items]
Cash held In trust account			$ 288,000,000	288,000,000
Merger Agreement with Pagaya [Member] | PIPE Investors [Member]
Related Party Transaction [Line Items]
Common stock value subscriptions			200,000,000	200,000,000
Formation and Operating Costs [Member]
Related Party Transaction [Line Items]
Administrative service fee			30,000	90,000
Working Capital Loans [Member]
Related Party Transaction [Line Items]
Amount may be convertible into warrants			$ 1,500,000	$ 1,500,000
convertible price per Warrants			$ 1.50	$ 1.50
Common Class B [Member]
Related Party Transaction [Line Items]
Common stock shares outstanding			7,187,500	7,187,500	7,187,500
Common stock par or stated value per share			$ 0.0001	$ 0.0001	$ 0.0001
Common stock shares subject to forfeiture	937,500
Shares no longer subject to forfeiture	937,500
Sponsor [Member]
Related Party Transaction [Line Items]
Proceeds from sponsor to cover certain offering costs		$ 25,000
Proceeds from sponsor to cover certain offering costs per share value		$ 0.003
Due to related parties			$ 322,000	$ 322,000
Sponsor [Member] | Administrative Support Services [Member]
Related Party Transaction [Line Items]
Due to related parties			2,000	2,000
Sponsor [Member] | Due Diligence Expenses [Member]
Related Party Transaction [Line Items]
Due to related parties			$ 320,000	$ 320,000
Sponsor [Member] | Common Class B [Member]
Related Party Transaction [Line Items]
Common stock shares outstanding		7,187,500
Common stock par or stated value per share		$ 0.0001

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Mar. 01, 2021	Sep. 30, 2021
Stock issued during period shares	28,750,000
Over-Allotment Option [Member]
Stock issued during period shares	3,750,000
IPO [Member]
Deferred underwriting fee percent on gross proceeds of the IPO		3.50%
Deferred underwriting fees	$ 10,062,500	$ 10,062,500

Warrants - Additional Informati

Warrants - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Warrants [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.50
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	0.361
Percent of consideration receivable in shares	70.00%
Common Class A [Member]
Warrants [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	5,166,667	0
Share price	$ 9.20
Proceeds used for business combination as a percentage of total equity issue	60.00%
Volume weighted average share price	$ 9.20
Exercise price as a percentage of newly issued share price	115.00%
Common Class A [Member] | Redemption Trigger Price One [Member]
Warrants [Line Items]
Newly issued share price	$ 18
Class of warrants or rights redemption price per warrant	$ 0.01
Exercise price as a percentage of newly issued share price	180.00%
Common Class A [Member] | Redemption Trigger Price Two [Member]
Warrants [Line Items]
Newly issued share price	$ 10
Class of warrants or rights redemption price per warrant	$ 0.10
Exercise price as a percentage of newly issued share price	100.00%

Warrants - Summary of Quantitat

Warrants - Summary of Quantitative Information Regarding Level 3 Fair Value Measurements (Detail) - Fair Value, Inputs, Level 3 [Member]	9 Months Ended
	Sep. 30, 2021$ / shares
Fair Value, Option, Quantitative Disclosures [Line Items]
Exercise price	$ 11.50
Share price	$ 9.83
Volatility	26.00%
Expected life of the options to convert	5 years
Risk-free rate	1.15%
Dividend yield	0.00%

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - $ / shares	Mar. 01, 2021	Dec. 24, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock par or stated value per share			$ 0.0001			$ 0.0001
Preferred stock shares authorized			5,000,000			5,000,000
Preferred stock shares issued			0			0
Preferred stock shares outstanding			0			0
Temporary equity shares outstanding	28,750,000		28,750,000	28,750,000	28,750,000	0
Common stock shares subject to forfeiture		937,500
Shares No longer subject to forfeiture	937,500
Class A Ordinary Shares [Member]
Class of Stock [Line Items]
Common stock par or stated value per share			$ 0.0001			$ 0.0001
Common stock shares authorized			500,000,000			500,000,000
Common stock shares issued			0			0
Common stock shares outstanding			0			0
Temporary equity shares outstanding			28,750,000			0
Common Class B [Member]
Class of Stock [Line Items]
Common stock par or stated value per share			$ 0.0001			$ 0.0001
Common stock shares authorized			50,000,000			50,000,000
Common stock shares issued			7,187,500			7,187,500
Common stock shares outstanding			7,187,500			7,187,500
Common stock shares subject to forfeiture	937,500
Shares No longer subject to forfeiture	937,500
Percentage of the common stock issued and outstanding	20.00%