Newcourt Acquisition 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 14, 2022
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	001-40929
Entity Registrant Name	NEWCOURT ACQUISITION CORP
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	2201 BroadwaySuite 705
Entity Address, City or Town	Oakland
Entity Address State Or Province	CA
Entity Address, Postal Zip Code	94612
City Area Code	510
Local Phone Number	214-3750
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true
Entity Central Index Key	0001849475
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Transition Report	false
Units, consisting of one Class A ordinary share, par value $0.0001 per share, and one redeemable warrant
Document Information
Title of 12(b) Security	Units, consisting of one Class A ordinary share, par value $0.0001 per share, and one redeemable warrant
Trading Symbol	NCACU
Security Exchange Name	NASDAQ
Class A ordinary shares
Document Information
Title of 12(b) Security	Class A ordinary shares, par value $0.0001 per share, included as part of the units
Trading Symbol	NCAC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		26,140,000
Redeemable warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the units
Document Information
Title of 12(b) Security	Redeemable warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the units
Trading Symbol	NCACW
Security Exchange Name	NASDAQ
Class B ordinary shares
Document Information
Entity Common Stock, Shares Outstanding		6,535,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 214,936	$ 648,282
Prepaid expenses	325,990	324,938
Total current assets	540,926	973,220
Prepaid expenses-non current	16,230	248,649
Investments held in Trust Account	255,923,528	255,002,424
TOTAL ASSETS	256,480,684	256,224,293
CURRENT LIABILITIES
Accounts payable and accrued expenses	177,040	68,702
Due to related party	10,000
Total current liabilities	187,040	68,702
Derivative warrant liabilities	784,200	6,410,000
Deferred underwriting fee payable	13,100,000	13,100,000
Total liabilities	14,071,240	19,578,702
COMMITMENTS AND CONTINGENCIES (Note 6)
SHAREHOLDERS' DEFICIT
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at September 30, 2022 and December 31, 2021
Accumulated deficit	(13,514,852)	(18,355,177)
TOTAL SHAREHOLDERS' DEFICIT	(13,514,084)	(18,354,409)
TOTAL LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS' DEFICIT	256,480,684	256,224,293
Class A ordinary shares
SHAREHOLDERS' DEFICIT
Common stock	114	114
Class A ordinary shares subject to possible redemption
REDEEMABLE ORDINARY SHARES
Class A ordinary shares subject to possible redemption, $0.0001 par value, 25,000,000 shares at redemption value of $10.20 per share at September 30, 2022 and December 31, 2021	255,923,528	255,000,000
Class B ordinary shares
SHAREHOLDERS' DEFICIT
Common stock	$ 654	$ 654

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preference shares, par value, (per share)	$ 0.0001	$ 0.0001
Preference shares, shares authorized	1,000,000	1,000,000
Preference shares, shares issued	0	0
Preference shares, shares outstanding	0	0
Class A ordinary shares subject to possible redemption
Temporary equity, par value, (per share)	$ 0.0001	$ 0.0001
Temporary equity, shares outstanding	25,000,000	25,000,000
Temporary equity, redemption value (per share)	$ 10.20	$ 10.20
Class A ordinary shares not subject to possible redemption
Common shares, par value, (per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized	100,000,000	100,000,000
Common shares, shares issued	1,140,000	1,140,000
Common shares, shares outstanding	1,140,000	1,140,000
Class B ordinary shares
Common shares, par value, (per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized	10,000,000	10,000,000
Common shares, shares issued	6,535,000	6,535,000
Common shares, shares outstanding	6,535,000	6,535,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
OPERATING EXPENSES
General and administrative	$ 163,133	$ 45,057	$ 79,493	$ 783,051
Total operating expenses	163,133	45,057	79,493	783,051
OTHER INCOME
Interest income on investments held in Trust Account	799,271			921,104
Change in fair value of warrants	130,700			5,625,800
Total other income	929,971			6,546,904
NET INCOME (LOSS)	$ 766,838	$ (45,057)	$ (79,493)	$ 5,763,853
Class A Ordinary Shares
OTHER INCOME
Weighted average shares outstanding, basic	22,000,000	0	0	22,000,000
Weighted average shares outstanding, diluted	22,000,000	0	0	22,000,000
Basic net income (loss) per share	$ 0.04	$ 0	$ 0	$ 0.21
Diluted net income (loss) per share	$ 0.04	$ 0	$ 0	$ 0.21
Class B Ordinary Shares
OTHER INCOME
Weighted average shares outstanding, basic	6,535,000	6,611,500	6,611,500	6,535,000
Weighted average shares outstanding, diluted	6,535,000	6,611,500	6,611,500	6,535,000
Basic net income (loss) per share	$ 0	$ (0.01)	$ (0.01)	$ 0.17
Diluted net income (loss) per share	$ 0	$ (0.01)	$ (0.01)	$ 0.17

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Class A ordinary shares not subject to possible redemption Ordinary shares	Class B Ordinary Shares Ordinary shares	Additional paid-in Capital	Accumulated deficit	Total
Balance at the beginning at Feb. 24, 2021	$ 0	$ 0	$ 0	$ 0	$ 0
Balance at the beginning (in shares) at Feb. 24, 2021	0	0
Increase (Decrease) in Stockholders' Equity
Issuance of Ordinary share to initial shareholders		$ 591	24,339		25,000
Issuance of Ordinary share to initial shareholders (in shares)		6,611,500
Net income (loss)				(6,827)	(6,827)
Balance at the end at Mar. 31, 2021	$ 0	$ 591	24,339	(6,827)	18,173
Balance at the end (in shares) at Mar. 31, 2021	0	6,611,500
Balance at the beginning at Feb. 24, 2021	$ 0	$ 0	0	0	0
Balance at the beginning (in shares) at Feb. 24, 2021	0	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)					(79,493)
Balance at the end at Sep. 30, 2021		$ 591	24,339	(79,493)	(54,493)
Balance at the end (in shares) at Sep. 30, 2021		6,611,500
Balance at the beginning at Mar. 31, 2021	$ 0	$ 591	24,339	(6,827)	18,173
Balance at the beginning (in shares) at Mar. 31, 2021	0	6,611,500
Increase (Decrease) in Stockholders' Equity
Net income (loss)				(27,609)	(27,609)
Balance at the end at Jun. 30, 2021		$ 591	24,339	(34,436)	(9,436)
Balance at the end (in shares) at Jun. 30, 2021		6,611,500
Increase (Decrease) in Stockholders' Equity
Net income (loss)				(45,057)	(45,057)
Balance at the end at Sep. 30, 2021		$ 591	$ 24,339	(79,493)	(54,493)
Balance at the end (in shares) at Sep. 30, 2021		6,611,500
Balance at the beginning at Dec. 31, 2021	$ 114	$ 654		(18,355,177)	(18,354,409)
Balance at the beginning (in shares) at Dec. 31, 2021	1,140,000	6,535,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)				2,952,586	2,952,586
Balance at the end at Mar. 31, 2022	$ 114	$ 654		(15,402,591)	(15,401,823)
Balance at the end (in shares) at Mar. 31, 2022	1,140,000	6,535,000
Balance at the beginning at Dec. 31, 2021	$ 114	$ 654		(18,355,177)	(18,354,409)
Balance at the beginning (in shares) at Dec. 31, 2021	1,140,000	6,535,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)					5,763,853
Balance at the end at Sep. 30, 2022	$ 114	$ 654		(13,514,852)	(13,514,084)
Balance at the end (in shares) at Sep. 30, 2022	1,140,000	6,535,000
Balance at the beginning at Mar. 31, 2022	$ 114	$ 654		(15,402,591)	(15,401,823)
Balance at the beginning (in shares) at Mar. 31, 2022	1,140,000	6,535,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)				2,044,429	2,044,429
Balance at the end at Jun. 30, 2022	$ 114	$ 654		(13,358,162)	(13,357,394)
Balance at the end (in shares) at Jun. 30, 2022	1,140,000	6,535,000
Increase (Decrease) in Stockholders' Equity
Accretion of Class A ordinary shares to redemption value				(923,528)	(923,528)
Net income (loss)				766,838	766,838
Balance at the end at Sep. 30, 2022	$ 114	$ 654		$ (13,514,852)	$ (13,514,084)
Balance at the end (in shares) at Sep. 30, 2022	1,140,000	6,535,000

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	7 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (79,493)	$ 5,763,853
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Paid in kind interest income on investments held in Trust Account		(921,104)
Change in fair value of warrants liabilities		(5,625,800)
Changes in operating assets and liabilities:
Prepaid expenses and other		231,367
Due to related party		10,000
Accounts payable and accrued expenses	60,000	108,338
Net cash used in operating activities	(19,493)	(433,346)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of offering costs	(2,420)
Proceeds from notes payable - related party	31,827
Net cash provided by financing activities	29,407
NET CHANGE IN CASH	9,914	(433,346)
CASH, BEGINNING OF PERIOD	0	648,282
CASH, END OF PERIOD	9,914	$ 214,936
Supplemental disclosures of noncash activities:
Deferred offering costs included in accrued offering costs	122,378
Payment of deferred offering costs by the Sponsor in exchange for the issuance of Class B ordinary shares	25,000
Deferred offering costs paid through the promissory note - related party	$ 58,266

Description of Organization and

Description of Organization and Business Operations	9 Months Ended
	Sep. 30, 2022
Description of Organization and Business Operations
Description of Organization and Business Operations	Note 1 – Description of Organization and Business Operations Newcourt Acquisition Corp (the “Company”) was incorporated in the Cayman Islands on February 25, 2021. The Company is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (the “Business Combination”). The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination. The Company is in an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. As of September 30, 2022, the Company had not commenced any operations. All activity through September 30, 2022, relates to the Company’s formation, Initial Public Offering (“IPO”) and identifying a target company for a Business Combination, which is described below. The Company 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 the form of interest income earned on investments from the proceeds derived from the IPO. The registration statement on Form S-1 and prospectus filed by the Company with the Securities and Exchange Commission for the Company’s IPO was declared effective on October 19, 2021. On October 22, 2021, the Company consummated the IPO of 22,000,000 units (“Units”) with respect to the Class A ordinary shares included in the Units being offered (the “Public Shares”) at $10.00 per Unit generating gross proceeds of $220,000,000, which is discussed in Note 3. The Company has selected December 31 as its fiscal year end. Simultaneously with the closing of the IPO, the Company consummated the closing of the sale of 3,000,000 additional Units upon receiving notice of the underwriters’ election to partially exercise their over-allotment option (“Over-allotment Units”), generating additional gross proceeds of $30,000,000. Simultaneously with the exercise of the over-allotment, the Company consummated the Private Placement of an additional 60,000 units (“Private Placement Units”) to the Sponsor, generating gross proceeds of $600,000. Simultaneously with the closing of the IPO, the Company consummated the sale of 1,080,000 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement to the Company’s sponsor, Newcourt SPAC Sponsor LLC (the “Sponsor”) and underwriters Cantor Fitzgerald & Co. (“Cantor”), and Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC (“CCM”), generating gross proceeds of $10,800,000. See Note 4 for details. Offering costs for the IPO and the exercise of the underwriters’ over-allotment option amounted to $18,037,545, consisting of $3,787,971 of underwriting fees, $13,100,000 of deferred underwriting fees payable (which are held in the Trust Account (defined below)) and $1,149,574 of other costs. As described in Note 6, the $13,100,000 of deferred underwriting fee payable is contingent upon the consummation of a Business Combination by January 22, 2023, subject to the terms of the underwriting agreement. Following the closing of the IPO and exercise of the over-allotment, $255,000,000 ($10.20 per Unit) from the net proceeds of the sale of the Units in the IPO and the Private Placement Units was placed in a trust account (“Trust Account”) and is invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account, as described below. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale of the Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the assets held in the Trust Account excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account at the time of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance the Company will be able to successfully effect a Business Combination. The Company will provide the holders of the outstanding Public Shares (the “Public Shareholders”) 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) 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. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially anticipated to be $10.20 per Public Share, plus any pro rata interest then in the Trust Account, net of taxes payable). There will be no redemption rights with respect to the Company’s warrants. All of the Public Shares 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 Company’s Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation (the “Certificate of Incorporation”). In accordance with Accounting Standards Codification (“ASC”) 480-10-S99, redemption provisions not solely within the control of a company require Class A ordinary shares subject to redemption to be classified outside of permanent equity. Given that the Public Shares will be issued with other freestanding instruments (i.e., public warrants), the initial carrying value of Class A ordinary shares classified as temporary equity will be the allocated proceeds determined in accordance with ASC 470-20. The Class A ordinary shares are subject to ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes immediately. While redemptions cannot cause the Company’s net tangible assets to fall below $5,000,001, the Public Shares are redeemable and are classified as such on the balance sheet until such date that a redemption event takes place. Redemptions of the Company’s Public Shares may be subject to the satisfaction of conditions, including minimum cash conditions, pursuant to an agreement relating to the Company’s Business Combination. If the Company seeks shareholder approval of the Business Combination, the Company will proceed with a Business Combination if a majority of the shares voted are voted in favor of the Business Combination, or such other vote as required by law or stock exchange rule. If a shareholder vote is not required by applicable law or stock exchange listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its Certificate of Incorporation, conduct the redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (the “SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transaction is required by applicable law or stock exchange listing requirements, or the Company decides to obtain shareholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks shareholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the IPO in favor of approving a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction. Notwithstanding the foregoing, the Certificate of Incorporation provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Class A ordinary shares sold in the IPO, without the prior consent of the Company. The Company’s Sponsor, officers and directors (the “Initial Shareholders”) have agreed not to propose an amendment to the Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the Public Shareholders with the opportunity to redeem their Class A ordinary shares in conjunction with any such amendment. If the Company is unable to complete a Business Combination by January 22, 2023, 15 months from the closing of the IPO (“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 ten The Initial Shareholders have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the Initial Shareholders should acquire Public Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to its deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be only $10.20 per shares held in the Trust Account. In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account. This liability will not apply with respect to any claims by a third party who executed a waiver of any right, title, interest or claim of any kind in or to any monies held in the Trust Account or to any claims under the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. Risks and Uncertainties In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a pandemic which continues to spread throughout the United States and the world. As of the date the financial statements were issued, there is considerable uncertainty around the expected duration of this pandemic. Management continues to evaluate the impact of the COVID-19 pandemic and the Company has concluded that while it is reasonably possible that COVID-19 could have a negative effect on the Company’s ability to identify a target company for a Business Combination, the specific impact is not readily determinable as of the date of the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these financial statements and the specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements. Recent increases in inflation and interest rates in the United States and elsewhere may lead to increased price volatility for publicly traded securities, including ours, and may lead to other national, regional and international economic disruptions, any of which could make it more difficult for us to consummate an initial Business Combination. On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination. The current economic downturn may lead to increased difficulty in completing a Business Combination. The Company’s ability to consummate a Business Combination may depend, in part, on worldwide economic conditions. In recent months, “the Company has observed increased economic uncertainty in the United States and abroad. Impacts of such economic weakness include: ● falling overall demand for goods and services, leading to reduced profitability; ● reduced credit availability; ● higher borrowing costs; ● reduced liquidity; ● volatility in credit, equity and foreign exchange markets; and ● bankruptcies. These developments could lead to inflation, higher interest rates, and uncertainty about business continuity, which may adversely affect the business of our potential target businesses and create difficulties in obtaining debt or equity financing for our initial Business Combination, as well as leading to an increase in the number of public stockholders exercising redemption rights in connection therewith. Recent volatility in capital markets and lower market prices for our securities may affect our ability to obtain financing for our initial business combination through sales of our ordinary shares or issuance of indebtedness. With uncertainty in the capital markets and other factors, financing for a Business Combination may not be available on terms favorable to the Company or at all. If the Company raise additional funds through further issuances of equity or convertible debt securities, the Company’s existing stockholders could suffer significant dilution, and any new equity securities that the Company issue could have rights, preferences, and privileges superior to those of holders of the Company’s ordinary shares. Any debt financing secured by the Company could involve additional restrictive covenants relating to the Company’s capital-raising activities and other financial and operational matters, which may limit the operations and growth of the surviving company of a Business Combination. If the Company is unable to obtain adequate financing or financing on terms satisfactory to it, the Company could face significant limitations on its ability to complete a Business Combination. Liquidity and Capital Resources As of September 30, 2022, the Company had $214,936 in its operating bank account $255,923,528 in investments held in the Trust Account to be used for a Business Combination or to repurchase or redeem its ordinary share in connection therewith and working capital of $353,886. As of September 30, 2022, $921,104 of the amount included in Investments held in Trust Account represented interest income which is available to pay the Company’s tax obligations. In connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the mandatory liquidation and subsequent dissolution described in the financial statements, should the Company be unable to complete a Business Combination, raises substantial doubt about the Company’s ability to continue as a going concern. The Company has until January 22, 2023, 15 months from the closing of the IPO, to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by the specified period. If a Business Combination is not consummated by January 22, 2023, there will be a mandatory liquidation and subsequent dissolution. These unaudited condensed financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern. ​ Also, in connection with the Company's assessment of going concern considerations in accordance with ASU No. 2014-15 management has determined that if the Company is unable to raise additional funds to alleviate liquidity needs as well as complete a Business Combination by January 22, 2023 then the Company will cease all operations except for the purpose of liquidating. The liquidity condition as well as the date for mandatory liquidation and subsequent dissolution raise substantial doubt about the Company's ability to continue as a going concern. These unaudited condensed financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements of the Company are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, as filed with the SEC on March 31, 2022. The interim results for the period presented are not necessarily indicative of the results to be expected for the year ended December 31, 2022 or for any future interim periods. Emerging Growth Company The Company is an emerging growth company as defined in Section 102(b)(1) of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), which 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 Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s 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. Significant estimates in these financial statements include those related to the fair value of warrant liabilities. Making estimates requires management to exercise significant judgment. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. 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. 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. The Company did not have any cash equivalents as of September 30, 2022 and December 31, 2021. Investments Held in Trust Account At September 30, 2022 and December 31, 2021, all of the assets held in the Trust Account were invested in a money market fund that only invests in U.S. Treasury securities and cash. The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Interest is received through the issuance of additional U.S. government treasury obligations and recorded as interest income in the accompanying statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information. Offering Costs Associated with the Initial Public Offering Offering costs, including additional underwriting fees associated with the underwriters’ exercise of the over-allotment option, consist principally of legal, accounting, underwriting fees and other costs directly related to the IPO and was charged to shareholders’ deficit upon completion of the IPO. Offering costs, including those attributable to the underwriters’ exercise of the over-allotment option in full, amounted to $18,037,545, consisting of $3,787,971 of underwriting fees, $13,100,000 of deferred underwriting fees payable (which are held in the Trust Account (defined below)) and $1,149,574 of other costs. The Company allocates the offering costs between ordinary shares, public and private warrants using relative fair value method, the offering costs allocated to the public and private placement warrants will be expensed as incurred and offering costs associated with equity components will be charged to shareholders’ equity. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, may exceed the Federal Deposit Insurance Corporation and Securities Investor Protection Corporation Insurance coverage limits of $250,000 and $500,000 (including cash of $250,000 ), respectively. At September 30, 2022, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. Fair Value of Financial Instruments 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: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. FASB ASC 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. There were no unrecognized tax benefits as of September 30, 2022 and December 31, 2021. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company is not currently aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. The Company is subject to tax examinations by major taxing authorities since inception. There is currently no taxation imposed by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. There is currently no taxation imposed by the Government of the Cayman Islands. The Company has 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. Consequently, income taxes are not reflected in the Company’s financial statements. 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 ASC 480. Class A ordinary shares subject to mandatory redemption (if any) are 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 is classified as shareholders’ deficit. The Company’s Class A ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at September 30, 2022 and December 31, 2021, 25,000,000 Class A ordinary shares subject to possible redemption is presented as temporary equity, outside of the shareholders’ deficit section of the Company’s balance sheet. 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 ordinary share are affected by charges against additional paid in capital and accumulated deficit. At September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the following table: ​ ​ ​ ​ ​ Gross proceeds $ 250,000,000 Less: ​ ​ ​ Proceeds allocated to Public Warrants ​ (15,375,000) Class A ordinary share issuance costs ​ (16,928,049) Plus: Accretion of carrying value to redemption value ​ 37,303,049 Class A ordinary share subject to possible redemption as of December 31, 2021 ​ $ 255,000,000 Remeasurement of carrying value to redemption value ​ ​ 923,528 Class A ordinary share subject to possible redemption as of September 30, 2022 ​ $ 255,923,528 ​ Net Income (Loss) per Ordinary Share The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares (the “Founder Shares”). Earnings and losses are shared pro rata between the two classes of shares. Public Warrants (see Note 3) and Private Placement Warrants (see Note 4) to purchase 13,070,000 Class A ordinary shares at $11.50 per share were issued on October 22, 2021. At September 30, 2022, no Public Warrants or Private Placement Warrants have been exercised. The 13,070,000 potential Class A ordinary shares for outstanding Public Warrants and Private Placement Warrants to purchase the Company’s share were excluded from diluted earnings per share for the period ended September 30, 2022, because they are contingently exercisable, and the contingencies have not yet been met. As a result, diluted net income per ordinary share is the same as basic net income per ordinary share for the period. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the period February 25, 2021 ​ For the nine months ended September 30, 2022 ​ (inception) through September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 4,654,781 ​ $ 1,109,072 ​ $ — ​ $ (79,493) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.21 ​ $ 0.17 ​ $ — ​ $ (0.01) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ​ ​ For the three months ended September 30, 2022 ​ ended September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 774,266 ​ $ (7,428) ​ $ — ​ $ (45,057) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.04 ​ $ (0.00) ​ $ — ​ $ (0.01) ​ Accounting for Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815, “Derivatives and Hedging.” The assessment considers whether the instruments are free standing financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to the Company’s own ordinary shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, was conducted at the time of warrant issuance and as of each subsequent period end date while the instruments are outstanding. Management has concluded that the Public Warrants and Private Placement Warrants issued pursuant to the warrant agreement qualify for liability accounting treatment. Stock Compensation Expense In connection with the Company’s IPO, founder’s shares were sold to certain independent directors from among the Sponsor’s pool of Founder’s Shares at the price paid by the Sponsor (par value of $0.0001). Although these founder’s shares were purchased by the independent directors for value, under ASC 718, “Compensation – Stock Compensation,” these founder’s shares may be deemed stock-based compensation. The Company accounts for stock-based compensation expense in accordance with ASC 718, under which stock-based compensation associated with equity-classified awards is measured at fair value upon the grant date and recognized over the requisite service period. To the extent a stock-based award is subject to a performance condition, the amount of expense recorded in a given period, if any, reflects an assessment of the probability of achieving such performance condition, with compensation recognized once the event is deemed probable to occur. The fair value of equity awards has been estimated using a market approach. Forfeitures are recognized as incurred. As of October 6, 2021, the fair value of the 95,000 Founder Shares granted to certain independent directors by the Sponsor was $600,530 or $6.32 per share. The Company used a Monte Carlo Model simulation to arrive at the fair value of the stock compensation. The key assumptions in the option pricing model utilized are assumptions related to expected separation date of Units, anticipated business combination date, purchase price, share-price volatility, expected term, exercise date, risk-free interest rate and present value. The expected volatility as of the IPO closing date was derived based upon similar Special Purpose Acquisition Company (“SPAC”) warrants and technology exchange funds which with the Company’s stated industry target and terms until the exercise date. The Company’s Founder Shares sold to independent directors (see Note 5) was deemed within the scope of ASC 718 and are subject to a performance condition, namely the occurrence of a Business Combination. Compensation expense related to the Founder Shares transferred is recognized only when the performance condition is probable of occurrence, or more specifically when a Business Combination is consummated. Therefore, no stock-based compensation expense has been recognized during the nine months ended September 30, 2022. Recent Accounting Pronouncements The Company’s management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Initial Public Offering

Initial Public Offering	9 Months Ended
	Sep. 30, 2022
Initial Public Offering.
Initial Public Offering	Note 3 — Initial Public Offering Pursuant to the IPO, the Company sold 25,000,000 units (including 3,000,000 units as part of the underwriters’ partial exercise of the over-allotment option) at a price of $10.00 per Unit. Each Unit consists of one Class A ordinary share (such Class A ordinary shares included in the Units being offered, the “Public Shares”), and one

Private Placement

Private Placement	9 Months Ended
	Sep. 30, 2022
Private Placement.
Private Placement	Note 4 — Private Placement On October 22, 2021, simultaneously with the consummation of the IPO and the underwriters’ exercise of their over-allotment option, the Company consummated the issuance and sale (“Private Placement”) of 1,140,000 Units (the “Placement Units”) in a private placement transaction at a price of $10.00 per Placement Unit, generating gross proceeds of $11,400,000. The Placement Units were purchased by Cantor (187,000 Units), CCM (33,000 Units) and the Sponsor (920,000 Units). Each whole Private Placement Unit will consist of one Class A ordinary share and one

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2022
Related-Party Transactions
Related Party Transactions	Note 5 — Related-Party Transactions Founder Shares On March 11, 2021, the Sponsor paid $25,000 to fund certain obligations of the Company in consideration for 5,912,500 Class B ordinary shares of the Company par value $0.0001 for an aggregate price of $25,000. In September 2021, the Company effected a dividend of approximately 0.017 shares for each Class B ordinary share outstanding, resulting in there being an aggregate of 6,015,000 Founder Shares outstanding. On October 19, 2021, the Company effected a dividend of approximately 0.099 shares for each outstanding Class B ordinary share, resulting in there being an aggregate of 6,611,500 Founder Shares outstanding. The Founder Shares will automatically convert into Class A ordinary shares at the time of the Company’s initial Business Combination and are subject to certain transfer restrictions, as described in Note 6. Holders of Founder Shares may also elect to convert their Class B ordinary shares into an equal number of Class A ordinary shares, subject to adjustment, at any time. The initial shareholders have agreed to forfeit up to 841,500 Founder Shares to the extent that the over-allotment option is not exercised in full by the underwriters. Since the underwriters exercised the over-allotment option only in part, the Sponsor did forfeit 76,500 Founder Shares. The Initial Shareholders have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) one year after the completion of the initial Business Combination or (B) subsequent to the initial Business Combination, (x) if the last sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property. Related-Party Loans On March 11, 2021, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Proposed Public Offering pursuant to a promissory note (the “Note”). On June 21, 2021 the Note was increased to $1,000,000. This loan is non-interest bearing and payable on the earlier of December 31, 2021, or the expiration of the 45-day over-allotment option. There is no balance on the Note as of September 30, 2022 and December 31, 2021. In addition, in order to finance transaction costs in connection with a 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 out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds 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. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1.5 million of such Working Capital Loans may be convertible into units of the post Business Combination entity at a price of $10.00 per warrant. The units would be identical to the Private Placement Units. As of September 30, 2022, and December 31, 2021, there were no Working Capital Loans outstanding. Support Services The Company pays an affiliate of the Sponsor a fee of approximately $30,000 per month following the consummation of the IPO for office space, administrative and shared personnel support services. For the three and nine months ended September 30, 2022, aggregate of $30,000 and $200,000 was incurred and $60,000 and $147,742 was paid, respectively, to an entity related to the chief financial officer for support services. As of September 30, 2022, $10,000 has been accrued under this agreement and presented as Due to related party in the accompanying balance sheet.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies.
Commitments and Contingencies	Note 6 — Commitments and Contingencies Registration Rights The holders of Founder Shares, Private Placement Units and warrants that may be issued upon conversion of Working Capital Loans, if any, will be entitled to registration rights (in the case of the Founder Shares, only after conversion of such shares to Class A ordinary shares) pursuant to a registration rights agreement to be signed on or before the date of the prospectus for the Proposed Public Offering. These holders will be entitled to certain demand and “piggyback” registration rights. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until the termination of the applicable lock-up period for the securities to be registered. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a 45-day option from the final prospectus relating to the IPO to purchase up to 3,300,000 additional Units to cover over-allotments, if any, at the IPO price less the underwriting discounts and commissions. On October 22, 2021, the underwriters elected to partially exercise the over-allotment option purchasing 3,000,000 Units. The unexercised portion of the over-allotment option of 300,000 Units was forfeited. The underwriters were paid a cash underwriting discount of $0.20 per unit net of reimbursements to the Company of $612,029 to pay for outside advisors, or $3,787,971 in the aggregate at the closing of the IPO. The underwriters have agreed to defer the cash underwriting discount of $0.20 per share related to the over-allotment to be paid at Business Combination ($600,000 in the aggregate). In addition, the underwriters are entitled to a deferred underwriting commissions of $0.50 per unit, or $12,500,000 from the closing of the IPO. The total deferred fee is $13,100,000, consisting of the $12,500,000 deferred portion and the $600,000 cash discount agreed to be deferred until Business Combination. The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely if the Company completes a Business Combination, subject to the terms of the underwriting agreement.

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit)	9 Months Ended
	Sep. 30, 2022
Shareholders' Equity (Deficit)
Shareholders' Equity (Deficit)	Note 7 — Shareholders’ Equity (Deficit) Preference Shares— Ordinary Shares Class A Ordinary shares— Class B Ordinary shares— there were 6,535,000 Class B ordinary shares outstanding after giving effect to the forfeiture of 76,500 shares to the Company by the Sponsor for no consideration since the underwriters’ 45-day over-allotment option was not exercised in full. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of shareholders except as required by law. The Class B Ordinary shares will automatically convert into Class A ordinary shares at the time of the initial Business Combination on a one-for-one basis, subject to adjustment. In the case that additional Class A Ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts offered in the IPO and related to the closing of the initial Business Combination, all Class B Ordinary shares issued shall automatically convert into Class A Ordinary shares at the time of the closing of the initial Business Combination. The ratio at which Class B Ordinary shares shall convert into Class A Ordinary shares will be adjusted (unless the holders of a majority of the outstanding Class B Ordinary shares agree to waive such adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B Ordinary shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all ordinary shares outstanding upon the completion of the IPO plus all Class A Ordinary shares and equity-linked securities issued or deemed issued in connection with the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business Combination and any private placement-equivalent warrants issued to the Sponsor or its affiliates upon conversion of working capital loans made to the Company). Holders of Founder Shares may also elect to convert their Class B Ordinary shares into an equal number of Class A Ordinary shares, subject to adjustment as provided above, at any time.

Derivative Warrant Liabilities

Derivative Warrant Liabilities	9 Months Ended
	Sep. 30, 2022
Derivative Warrant Liabilities
Derivative Warrant Liabilities	Note 8—Derivative Warrant Liabilities Public Warrants The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. Once the warrants become exercisable, the Company may redeem the Public 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; ● if, and only if, the reported last sale price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations), for any 20 trading days within a 30 -trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders; and ● if, and only if, there is a current registration statement in effect with respect to the Class A ordinary shares underlying the warrants. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. Private Warrants The exercise price and number of Class A ordinary shares issuable on exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary dividend or the Company's recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuances of Class A ordinary shares at a price below their respective exercise prices. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. In addition, if the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a 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 the Initial Shareholders or their affiliates, without taking into account any Founder Shares held by them prior to such issuance), (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 a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Market Value or (ii) the price at which the Company issues the additional Class A ordinary shares or equity-linked securities.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements
Fair Value Measurements	Note 9 — Fair Value Measurements The Company determines the level in the fair value hierarchy within which each fair value measurement falls based on the lowest level input that is significant to the fair value measurement and performs an analysis of the assets and liabilities at each reporting period end. The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ Significant Significant ​ ​ ​ ​ ​ Prices ​ Other ​ Other ​ ​ ​ ​ ​ in Active ​ Observable ​ Unobservable ​ ​ September ​ Markets ​ Inputs ​ Inputs Description 30, 2022 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ Money Market Fund held in Trust Account ​ $ 255,923,528 ​ $ 255,923,528 — ​ — Liabilities: ​ ​ ​ ​ ​ Warrant Liability - Public Warrants ​ $ 750,000 ​ $ 750,000 — ​ — Warrant Liability - Private Warrants ​ $ 34,200 ​ — — ​ $ 34,200 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Significant Significant ​ ​ ​ ​ ​ Prices ​ Other ​ Other ​ ​ ​ ​ ​ in Active ​ Observable ​ Unobservable ​ ​ December ​ Markets ​ Inputs ​ Inputs Description 31, 2021 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ Money Market Fund held in Trust Account ​ $ 255,002,424 ​ $ 255,002,424 — ​ — Liabilities: ​ ​ ​ Warrant Liability - Public Warrants ​ $ 6,125,000 ​ $ 6,125,000 — ​ — Warrant Liability - Private Warrants ​ $ 285,000 ​ — — ​ $ 285,000 ​ On September 30, 2022 and December 31, 2021, there were 13,070,000 warrants outstanding (12,500,000 Public Warrants and 570,000 Private Warrants). The Company has determined that warrants issued in connection with its initial public offering in October 2021 are subject to treatment as a liability. The estimated fair value of the warrant liability is determined using Level 1 and Level 3 inputs. The key assumptions in the option pricing model utilized are assumptions related to expected share-price volatility, expected term, risk-free interest rate and dividend yield. The expected volatility as of the IPO Closing Date was derived from observable public warrant pricing on comparable ‘blank check’ companies that recently went public in 2021. The risk-free interest rate is based on the interpolated U.S. Constant Maturity Treasury yield. The expected term of the warrants is assumed to be six months until the close of a Business Combination, and the contractual five-year term subsequently. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero. On September 30, 2022 and December 31, 2021, the Public Warrants had adequate trading volume to provide a reliable indication of value, as there is an active market for the warrants most trading days. The Public Warrants were valued at $0.06 and $0.49 on September 30, 2022 and December 31, 2021, respectively. The Company utilizes a Monte Carlo simulation model to value the Private Placement Warrants at each reporting period, with changes in fair value recognized in the statement of operations. The estimated fair value of the Private Placement Warrant liability is determined using Level 3 inputs. Inherent in a Monte Carlo pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its ordinary shares based on industry historical volatility that matches the expected remaining life of the warrants. The decrease in volatility is in line and is noted across the entire SPAC industry. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero. The following table provides quantitative information regarding Level 3 fair value measurements at September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ Share Price ​ $ 10.14 ​ $ 9.91 Exercise Price ​ $ 11.50 ​ $ 11.50 Term (years) ​ 5.31 ​ 6.00 Volatility ​ 3.00 % 8.00 % Risk Free Rate ​ 3.97 % 1.35 % Dividend Yield ​ 0.00 % 0.00 % ​ The fair value of the Private Placement Warrants was $0.06 and $0.50 at September 30, 2022 and December 31, 2021, respectively. The following table presents the changes in the fair value of Level 3 warrant liabilities: ​ ​ ​ ​ ​ ​ Private Placement ​ Warrants Fair value as of December 31, 2021 $ 285,000 Change in fair value ​ (148,200) Fair value as of March 31, 2022 ​ ​ 136,800 Change in fair value ​ ​ (96,900) Fair value as of June 30, 2022 ​ ​ 39,900 Change in fair value ​ ​ (5,700) Fair value as of September 30, 2022 $ 34,200 ​ There were no transfers in or out of Level 3 from other levels in the fair value hierarchy for the period December 31, 2021 through September 30, 2022.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events
Subsequent Events	Note 10 — Subsequent Events The Company has evaluated subsequent events through the date these financial statements were available for issuance and determined that there were no subsequent events that would require adjustment or disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying financial statements of the Company are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, as filed with the SEC on March 31, 2022. The interim results for the period presented are not necessarily indicative of the results to be expected for the year ended December 31, 2022 or for any future interim periods.
Emerging Growth Company	Emerging Growth Company The Company is an emerging growth company as defined in Section 102(b)(1) of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), which 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 Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised, and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s 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. Significant estimates in these financial statements include those related to the fair value of warrant liabilities. Making estimates requires management to exercise significant judgment. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. 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. 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. The Company did not have any cash equivalents as of September 30, 2022 and December 31, 2021.
Investments Held in Trust Account	Investments Held in Trust Account At September 30, 2022 and December 31, 2021, all of the assets held in the Trust Account were invested in a money market fund that only invests in U.S. Treasury securities and cash. The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Interest is received through the issuance of additional U.S. government treasury obligations and recorded as interest income in the accompanying statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information.
Offering Costs Associated with the Initial Public Offering	Offering Costs Associated with the Initial Public Offering Offering costs, including additional underwriting fees associated with the underwriters’ exercise of the over-allotment option, consist principally of legal, accounting, underwriting fees and other costs directly related to the IPO and was charged to shareholders’ deficit upon completion of the IPO. Offering costs, including those attributable to the underwriters’ exercise of the over-allotment option in full, amounted to $18,037,545, consisting of $3,787,971 of underwriting fees, $13,100,000 of deferred underwriting fees payable (which are held in the Trust Account (defined below)) and $1,149,574 of other costs. The Company allocates the offering costs between ordinary shares, public and private warrants using relative fair value method, the offering costs allocated to the public and private placement warrants will be expensed as incurred and offering costs associated with equity components will be charged to shareholders’ equity.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, may exceed the Federal Deposit Insurance Corporation and Securities Investor Protection Corporation Insurance coverage limits of $250,000 and $500,000 (including cash of $250,000 ), respectively. At September 30, 2022, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Fair Value of Financial Instruments	Fair Value of Financial Instruments 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: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3:
Income Taxes	Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. FASB ASC 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. There were no unrecognized tax benefits as of September 30, 2022 and December 31, 2021. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company is not currently aware of any issues under review that could result in significant payments, accruals, or material deviation from its position. The Company is subject to tax examinations by major taxing authorities since inception. There is currently no taxation imposed by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. There is currently no taxation imposed by the Government of the Cayman Islands. The Company has 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. Consequently, income taxes are not reflected in the Company’s financial statements.
Class A Ordinary Share 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 ASC 480. Class A ordinary shares subject to mandatory redemption (if any) are 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 is classified as shareholders’ deficit. The Company’s Class A ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at September 30, 2022 and December 31, 2021, 25,000,000 Class A ordinary shares subject to possible redemption is presented as temporary equity, outside of the shareholders’ deficit section of the Company’s balance sheet. 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 ordinary share are affected by charges against additional paid in capital and accumulated deficit. At September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the following table: ​ ​ ​ ​ ​ Gross proceeds $ 250,000,000 Less: ​ ​ ​ Proceeds allocated to Public Warrants ​ (15,375,000) Class A ordinary share issuance costs ​ (16,928,049) Plus: Accretion of carrying value to redemption value ​ 37,303,049 Class A ordinary share subject to possible redemption as of December 31, 2021 ​ $ 255,000,000 Remeasurement of carrying value to redemption value ​ ​ 923,528 Class A ordinary share subject to possible redemption as of September 30, 2022 ​ $ 255,923,528
Net Income (Loss) per Ordinary Share	Net Income (Loss) per Ordinary Share The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares (the “Founder Shares”). Earnings and losses are shared pro rata between the two classes of shares. Public Warrants (see Note 3) and Private Placement Warrants (see Note 4) to purchase 13,070,000 Class A ordinary shares at $11.50 per share were issued on October 22, 2021. At September 30, 2022, no Public Warrants or Private Placement Warrants have been exercised. The 13,070,000 potential Class A ordinary shares for outstanding Public Warrants and Private Placement Warrants to purchase the Company’s share were excluded from diluted earnings per share for the period ended September 30, 2022, because they are contingently exercisable, and the contingencies have not yet been met. As a result, diluted net income per ordinary share is the same as basic net income per ordinary share for the period. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the period February 25, 2021 ​ For the nine months ended September 30, 2022 ​ (inception) through September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 4,654,781 ​ $ 1,109,072 ​ $ — ​ $ (79,493) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.21 ​ $ 0.17 ​ $ — ​ $ (0.01) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ​ ​ For the three months ended September 30, 2022 ​ ended September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 774,266 ​ $ (7,428) ​ $ — ​ $ (45,057) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.04 ​ $ (0.00) ​ $ — ​ $ (0.01)
Accounting for Warrants	Accounting for Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815, “Derivatives and Hedging.” The assessment considers whether the instruments are free standing financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to the Company’s own ordinary shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, was conducted at the time of warrant issuance and as of each subsequent period end date while the instruments are outstanding. Management has concluded that the Public Warrants and Private Placement Warrants issued pursuant to the warrant agreement qualify for liability accounting treatment.
Stock Compensation Expense	Stock Compensation Expense In connection with the Company’s IPO, founder’s shares were sold to certain independent directors from among the Sponsor’s pool of Founder’s Shares at the price paid by the Sponsor (par value of $0.0001). Although these founder’s shares were purchased by the independent directors for value, under ASC 718, “Compensation – Stock Compensation,” these founder’s shares may be deemed stock-based compensation. The Company accounts for stock-based compensation expense in accordance with ASC 718, under which stock-based compensation associated with equity-classified awards is measured at fair value upon the grant date and recognized over the requisite service period. To the extent a stock-based award is subject to a performance condition, the amount of expense recorded in a given period, if any, reflects an assessment of the probability of achieving such performance condition, with compensation recognized once the event is deemed probable to occur. The fair value of equity awards has been estimated using a market approach. Forfeitures are recognized as incurred. As of October 6, 2021, the fair value of the 95,000 Founder Shares granted to certain independent directors by the Sponsor was $600,530 or $6.32 per share. The Company used a Monte Carlo Model simulation to arrive at the fair value of the stock compensation. The key assumptions in the option pricing model utilized are assumptions related to expected separation date of Units, anticipated business combination date, purchase price, share-price volatility, expected term, exercise date, risk-free interest rate and present value. The expected volatility as of the IPO closing date was derived based upon similar Special Purpose Acquisition Company (“SPAC”) warrants and technology exchange funds which with the Company’s stated industry target and terms until the exercise date. The Company’s Founder Shares sold to independent directors (see Note 5) was deemed within the scope of ASC 718 and are subject to a performance condition, namely the occurrence of a Business Combination. Compensation expense related to the Founder Shares transferred is recognized only when the performance condition is probable of occurrence, or more specifically when a Business Combination is consummated. Therefore, no stock-based compensation expense has been recognized during the nine months ended September 30, 2022.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company’s management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Schedule of recognized Class A common stock subject to possible redemption	At September 30, 2022 and December 31, 2021, the Class A ordinary shares subject to possible redemption reflected in the balance sheet is reconciled in the following table: ​ ​ ​ ​ ​ Gross proceeds $ 250,000,000 Less: ​ ​ ​ Proceeds allocated to Public Warrants ​ (15,375,000) Class A ordinary share issuance costs ​ (16,928,049) Plus: Accretion of carrying value to redemption value ​ 37,303,049 Class A ordinary share subject to possible redemption as of December 31, 2021 ​ $ 255,000,000 Remeasurement of carrying value to redemption value ​ ​ 923,528 Class A ordinary share subject to possible redemption as of September 30, 2022 ​ $ 255,923,528
Reconciliation of net loss per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the period February 25, 2021 ​ For the nine months ended September 30, 2022 ​ (inception) through September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 4,654,781 ​ $ 1,109,072 ​ $ — ​ $ (79,493) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.21 ​ $ 0.17 ​ $ — ​ $ (0.01) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ​ ​ For the three months ended September 30, 2022 ​ ended September 30, 2021 Basic and diluted net income (loss) per share: Class A Ordinary share Class B Ordinary share Class A Ordinary share Class B Ordinary share Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income (loss) ​ $ 774,266 ​ $ (7,428) ​ $ — ​ $ (45,057) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding ​ 22,000,000 ​ 6,535,000 ​ — ​ 6,611,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income (loss) per share ​ $ 0.04 ​ $ (0.00) ​ $ — ​ $ (0.01)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Measurements
Schedule of company's assets that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ Significant Significant ​ ​ ​ ​ ​ Prices ​ Other ​ Other ​ ​ ​ ​ ​ in Active ​ Observable ​ Unobservable ​ ​ September ​ Markets ​ Inputs ​ Inputs Description 30, 2022 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ Money Market Fund held in Trust Account ​ $ 255,923,528 ​ $ 255,923,528 — ​ — Liabilities: ​ ​ ​ ​ ​ Warrant Liability - Public Warrants ​ $ 750,000 ​ $ 750,000 — ​ — Warrant Liability - Private Warrants ​ $ 34,200 ​ — — ​ $ 34,200 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Significant Significant ​ ​ ​ ​ ​ Prices ​ Other ​ Other ​ ​ ​ ​ ​ in Active ​ Observable ​ Unobservable ​ ​ December ​ Markets ​ Inputs ​ Inputs Description 31, 2021 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ Money Market Fund held in Trust Account ​ $ 255,002,424 ​ $ 255,002,424 — ​ — Liabilities: ​ ​ ​ Warrant Liability - Public Warrants ​ $ 6,125,000 ​ $ 6,125,000 — ​ — Warrant Liability - Private Warrants ​ $ 285,000 ​ — — ​ $ 285,000
Schedule of quantitative information regarding Level 3 fair value measurements inputs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 December 31, 2021 ​ Share Price ​ $ 10.14 ​ $ 9.91 Exercise Price ​ $ 11.50 ​ $ 11.50 Term (years) ​ 5.31 ​ 6.00 Volatility ​ 3.00 % 8.00 % Risk Free Rate ​ 3.97 % 1.35 % Dividend Yield ​ 0.00 % 0.00 %
Schedule of change in the fair value of the warrant liabilities	​ ​ ​ ​ ​ ​ Private Placement ​ Warrants Fair value as of December 31, 2021 $ 285,000 Change in fair value ​ (148,200) Fair value as of March 31, 2022 ​ ​ 136,800 Change in fair value ​ ​ (96,900) Fair value as of June 30, 2022 ​ ​ 39,900 Change in fair value ​ ​ (5,700) Fair value as of September 30, 2022 $ 34,200

Description of Organization a_2

Description of Organization and Business Operations (Details)		1 Months Ended	7 Months Ended	9 Months Ended	10 Months Ended
	Oct. 22, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares item shares	Dec. 31, 2021 USD ($) item
Description of Organization and Business Operations
Purchase price, per unit | $ / shares	$ 11.50			$ 10.20
Sale of Private Placement Warrants (in shares) | shares	13,070,000
Deferred underwriting fee payable				$ 13,100,000	$ 13,100,000
Aggregate purchase price		$ 25,000
Proceeds from Related Party Debt			$ 31,827
Condition for future business combination number of businesses minimum | item					1
Condition for future business combination use of proceeds percentage				80
Condition for future business combination threshold Percentage Ownership				50
Condition for future business combination threshold Net Tangible Assets				$ 5,000,001
Redemption limit percentage without prior consent				15
Obligation to redeem Public Shares if entity does not complete a Business Combination (as a percent)				100%
Months to complete acquisition | item				15
Redemption period upon closure				10 days
Maximum Allowed Dissolution Expenses				$ 100,000
Cash held in operating bank account				214,936	$ 648,282
Marketable securities held in Trust Account				255,923,528	$ 255,002,424
Interest income in trust account to pay tax obligations				921,104
Working Capital				$ 353,886
Threshold period to consummate business combination upon closing of IPO				15 months
Initial Public Offering
Description of Organization and Business Operations
Number of units issued | shares	22,000,000			25,000,000
Purchase price, per unit | $ / shares	$ 10			$ 10
Proceeds from issuance initial public offering	$ 220,000,000
Offering costs				$ 18,037,545
Underwriting fees				3,787,971
Deferred underwriting fee payable				13,100,000
Other offering costs				1,149,574
Net proceeds placed in trust account				$ 255,000,000
Share price | $ / shares				$ 10.20
Private Placement | Private Placement Warrants
Description of Organization and Business Operations
Sale of Private Placement Warrants (in shares) | shares	1,140,000			1,080,000
Price of warrant | $ / shares	$ 10			$ 10
Proceeds from sale of Private Placement Warrants	$ 11,400,000			$ 10,800,000
Over-allotment option
Description of Organization and Business Operations
Number of units issued | shares	3,000,000			3,000,000
Gross proceeds				$ 30,000,000
Over-allotment option | Private Placement Warrants
Description of Organization and Business Operations
Proceeds from sale of Private Placement Warrants				$ 600,000
Sponsor | Private Placement | Private Placement Warrants
Description of Organization and Business Operations
Sale of Private Placement Warrants (in shares) | shares	920,000
Sponsor | Over-allotment option | Private Placement Warrants
Description of Organization and Business Operations
Sale of Private Placement Warrants (in shares) | shares				60,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)		9 Months Ended	12 Months Ended
	Oct. 06, 2021	Sep. 30, 2022	Dec. 31, 2021	Oct. 22, 2021
Summary of Significant Accounting Policies
Deferred underwriting fee payable		$ 13,100,000	$ 13,100,000
Unrecognized tax benefits		0	$ 0
Cash, FDIC insured amount		250,000
Cash, SIPC insured amount		$ 500,000
Number of warrants to purchase shares issued				13,070,000
Share price		$ 10.20		$ 11.50
Anti dilutive securities excluded from computation of earnings per share amount		13,070,000	13,070,000
Initial Public Offering
Summary of Significant Accounting Policies
Offering costs		$ 18,037,545
Underwriting fees		3,787,971
Deferred underwriting fee payable		13,100,000
Other offering costs		$ 1,149,574
Share price		$ 10		$ 10
Founder Shares
Summary of Significant Accounting Policies
Share price		$ 0.0001
Founder Shares | Sponsor
Summary of Significant Accounting Policies
Number of shares granted	95,000
Fair value of shares granted	$ 600,530
Granted shares, per share	$ 6.32
Stock-based compensation expense		$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Reconciliation of class A ordinary shares subject to possible redemption reflected in the balance sheet (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Line Items]
Remeasurement of carrying value to redemption value	$ 923,528
Class A ordinary shares subject to possible redemption
Summary of Significant Accounting Policies [Line Items]
Gross proceeds			$ 250,000,000
Proceeds allocated to Public Warrants			(15,375,000)
Class A ordinary share issuance costs			(16,928,049)
Plus: Accretion of carrying value to redemption value			37,303,049
Remeasurement of carrying value to redemption value		$ 923,528
Class A ordinary share subject to possible redemption	$ 255,923,528	$ 255,923,528	$ 255,000,000

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Reconciliation of the numerator and denominator used to compute basic and diluted net loss per share for each class of share (Details) - USD ($)	3 Months Ended		7 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022
Class A Ordinary Shares
Numerator:
Allocation of net income	$ 774,266	$ 0	$ 0	$ 4,654,781
Denominator:
Weighted average shares outstanding, Basic	22,000,000	0	0	22,000,000
Weighted average shares outstanding, Diluted	22,000,000	0	0	22,000,000
Basic net income per share	$ 0.04	$ 0	$ 0	$ 0.21
Diluted net income per share	$ 0.04	$ 0	$ 0	$ 0.21
Class B Ordinary Shares
Numerator:
Allocation of net income	$ (7,428)	$ (45,057)	$ (79,493)	$ 1,109,072
Denominator:
Weighted average shares outstanding, Basic	6,535,000	6,611,500	6,611,500	6,535,000
Weighted average shares outstanding, Diluted	6,535,000	6,611,500	6,611,500	6,535,000
Basic net income per share	$ 0	$ (0.01)	$ (0.01)	$ 0.17
Diluted net income per share	$ 0	$ (0.01)	$ (0.01)	$ 0.17

Initial Public Offering (Detail

Initial Public Offering (Details) - $ / shares		9 Months Ended
	Oct. 22, 2021	Sep. 30, 2022
Initial Public Offering
Share price	$ 11.50	$ 10.20
Initial Public Offering
Initial Public Offering
Number of units sold	22,000,000	25,000,000
Share price	$ 10	$ 10
Initial Public Offering | Public Warrants
Initial Public Offering
Number of shares in a unit		1
Number of warrants in a unit		0.5
Number of shares issuable per warrant		1
Exercise price of warrants		$ 11.50
Over-allotment option
Initial Public Offering
Number of units sold	3,000,000	3,000,000

Private Placement (Details)

Private Placement (Details) - USD ($)		9 Months Ended
	Oct. 22, 2021	Sep. 30, 2022	Dec. 31, 2021
Private Placement
Number of warrants to purchase shares issued	13,070,000
Private Placement Warrants
Private Placement
Exercise price of warrant		$ 0.06	$ 0.50
Private Placement | Private Placement Warrants
Private Placement
Number of warrants to purchase shares issued	1,140,000	1,080,000
Price of warrants	$ 10	$ 10
Aggregate purchase price	$ 11,400,000	$ 10,800,000
Number of shares in a unit	1
Number of warrants in a unit	0.5
Number of shares per warrant	1
Exercise price of warrant	$ 11.50
Private Placement | Private Placement Warrants | Sponsor
Private Placement
Number of warrants to purchase shares issued	920,000
Private Placement | Private Placement Warrants | Cantor
Private Placement
Number of warrants to purchase shares issued	187,000
Private Placement | Private Placement Warrants | CCM
Private Placement
Number of warrants to purchase shares issued	33,000

Related-Party Transactions- Fou

Related-Party Transactions- Founder Shares (Details)			1 Months Ended	9 Months Ended
	Oct. 19, 2021 shares	Mar. 11, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($)	Sep. 30, 2022 D $ / shares shares	Dec. 31, 2021 $ / shares shares
Related-Party Transactions
Aggregate purchase price | $			$ 25,000
Class B ordinary shares
Related-Party Transactions
Common shares, par value, (per share) | $ / shares				$ 0.0001	$ 0.0001
Common shares, shares outstanding				6,535,000	6,535,000
Founder Shares
Related-Party Transactions
Number of shares forfeited		841,500
Founder Shares | Class B ordinary shares
Related-Party Transactions
Share dividend	0.099
Common shares, shares outstanding	6,611,500
Founder Shares | Sponsor
Related-Party Transactions
Number of shares forfeited		76,500
Founder Shares | Sponsor | Class B ordinary shares
Related-Party Transactions
Number of shares issued		5,912,500
Aggregate purchase price | $		$ 25,000
Share dividend		0.017
Restrictions on transfer period of time after business combination completion				1 year
Stock price trigger to transfer, assign or sell any shares or warrants of the company, after the completion of the initial business combination (in dollars per share) | $ / shares				$ 12
Threshold trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination | D				20
Threshold consecutive trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination | D				30
Threshold period after the business combination in which the 20 trading days within any 30 trading day period commences				150 days
Common shares, par value, (per share) | $ / shares		$ 0.0001
Common shares, shares outstanding				6,015,000

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Details) - USD ($)		3 Months Ended	9 Months Ended
	Jun. 21, 2021	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Mar. 11, 2021
Related-Party Transactions
Due to related party		$ 10,000	$ 10,000
Promissory Note with Related Party
Related-Party Transactions
Maximum borrowing capacity of related party promissory note					$ 300,000
Repayment of promissory note - related party	$ 1,000,000
Related Party Loans
Related-Party Transactions
Outstanding balance of related party note		0	0	$ 0
Outstanding working capital loans		0	0	$ 0
Loan conversion agreement warrant		$ 1,500,000	$ 1,500,000
Related Party Loans | Working capital loans warrant
Related-Party Transactions
Price of warrant		$ 10	$ 10
Support Services
Related-Party Transactions
Expenses per month			$ 30,000
Aggregate proceeds paid		$ 60,000	147,742
Expenses incurred and paid		30,000	200,000
Due to related party		$ 10,000	$ 10,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)		9 Months Ended
	Oct. 22, 2021	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies
Deferred underwriting fee payable		$ 13,100,000	$ 13,100,000
Underwriting cash discount per unit		$ 0.20
Deferred underwriting commission		$ 12,500,000
Underwriter cash discount		3,787,971
Additional advisor and expenses		$ 612,029
Deferred underwriting commission per unit		$ 0.50
Initial Public Offering
Commitments and Contingencies
Number of units issued	22,000,000	25,000,000
Deferred underwriting fee payable		$ 13,100,000
Over-allotment option
Commitments and Contingencies
Options to Granted Number of Days to Underwriters		45 days
Number of units issued	3,000,000	3,000,000
Additional deferred underwriting cash discount per unit		$ 0.20
Additional deferred underwriting cash discount		$ 600,000
Unexercised portion of shares forfeited	300,000
Over-allotment option | Maximum
Commitments and Contingencies
Number of units issued		3,300,000

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit) - Preferred Stock Shares (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Shareholders' Equity (Deficit)
Preference shares, shares authorized	1,000,000	1,000,000
Preference shares, shares issued	0	0
Preference shares, shares outstanding	0	0

Shareholders' Equity (Deficit_2

Shareholders' Equity (Deficit) - Common Stock Shares (Details)	9 Months Ended
	Sep. 30, 2022 Vote $ / shares shares	Dec. 31, 2021 $ / shares shares
Class A ordinary shares subject to possible redemption
Shareholders' Equity (Deficit)
Class A common stock subject to possible redemption, outstanding (in shares)	25,000,000	25,000,000
Class A ordinary shares not subject to possible redemption
Shareholders' Equity (Deficit)
Common shares, shares authorized (in shares)	100,000,000	100,000,000
Common shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common shares, shares issued (in shares)	1,140,000	1,140,000
Common shares, shares outstanding (in shares)	1,140,000	1,140,000
Class B Ordinary Shares
Shareholders' Equity (Deficit)
Common shares, shares authorized (in shares)	10,000,000	10,000,000
Common shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common shares, votes per share | Vote	1
Common shares, shares issued (in shares)	6,535,000	6,535,000
Common shares, shares outstanding (in shares)	6,535,000	6,535,000
Ratio to be applied to the stock in the conversion	20
Shares subject to forfeiture	76,500
Conversion of Stock, Shares Issued	1
Underwriters over allotment period	45 days

Derivative Warrant Liabilities

Derivative Warrant Liabilities (Details)	9 Months Ended
	Sep. 30, 2022 D $ / shares
Derivative Warrant Liabilities
Trading period after business combination used to measure dilution of warrant | D	20
Public Warrants
Derivative Warrant Liabilities
Warrant exercise period condition one	30 days
Warrant exercise period condition two	12 months
Public Warrants expiration term	5 years
Share price trigger used to measure dilution of warrant	$ 9.20
Percentage of gross new proceeds to total equity proceeds used to measure dilution of warrant	60
Warrant exercise price adjustment multiple	115
Public Warrants | Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00
Derivative Warrant Liabilities
Warrant redemption condition minimum share price	$ 18
Redemption price per public warrant (in dollars per share)	$ 0.01
Threshold trading days for redemption of public warrants	20 days
Threshold consecutive trading days for redemption of public warrants | D	30
Redemption period	30 days

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets:
Money Market Fund held in Trust Account	$ 255,923,528	$ 255,002,424
Liabilities:
Warrant Liability	$ 784,200	$ 6,410,000
Warrants outstanding	13,070,000	13,070,000
Quoted Prices in Active Markets (Level 1)
Assets:
Money Market Fund held in Trust Account	$ 255,923,528	$ 255,002,424
Public Warrants
Liabilities:
Warrant Liability	$ 750,000	$ 6,125,000
Warrants outstanding	12,500,000	12,500,000
Warrants price	$ 0.06	$ 0.49
Public Warrants | Quoted Prices in Active Markets (Level 1)
Liabilities:
Warrant Liability	$ 750,000	$ 6,125,000
Private Placement Warrants
Liabilities:
Warrant Liability	$ 34,200	$ 285,000
Warrants outstanding	570,000	570,000
Private Placement Warrants | Significant Other Unobservable Inputs (Level 3)
Liabilities:
Warrant Liability	$ 34,200	$ 285,000

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Fair Value Measurements Inputs (Details)	Sep. 30, 2022 $ / shares item Y	Dec. 31, 2021 item $ / shares Y
Private Placement Warrants
Level 3 Fair Value Measurements Inputs
Exercise price of warrants | $ / shares	$ 0.06	$ 0.50
Share Price. | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | $ / shares	10.14	9.91
Exercise Price | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | $ / shares	11.50	11.50
Term (years) | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | Y	5.31	6
Volatility | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | item	0.0300	0.0800
Risk Free Rate | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | item	0.0397	0.0135
Dividend Yield | Significant Other Unobservable Inputs (Level 3)
Level 3 Fair Value Measurements Inputs
Warrants, measurement input | item	0	0

Fair Value Measurements - Chang

Fair Value Measurements - Change in the Fair Value of the Warrant Liabilities (Details) - USD ($)	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value liabilities transfer into level 3				$ 0	$ 0
Fair value liabilities transfer out of level 3				0	0
Significant Other Unobservable Inputs (Level 3) | Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Warrant liabilities at the beginning	$ 39,900	$ 136,800	$ 285,000	285,000
Change in fair value	(5,700)	(96,900)	(148,200)
Warrant liabilities at end	$ 34,200	$ 39,900	$ 136,800	$ 34,200	$ 285,000