IX Acquisition (IXAQF) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 11, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Entity File Number	001-40878
Entity Registrant Name	IX ACQUISITION CORP.
Entity Incorporation, State or Country Code	KY
Entity Tax Identification Number	98-1586922
Entity Address, Address Line One	Arch 124
Entity Address, Address Line Two	53 Davies Street
Entity Address, City or Town	London
Entity Address, Postal Zip Code	W1K 5JH
Entity Address, Country	GB
City Area Code	203
Local Phone Number	983-0450
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	0001852019
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
Document Information [Line Items]
Title of 12(b) Security	Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant
Trading Symbol	IXAQU
Security Exchange Name	NASDAQ
Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value $0.0001 per share
Trading Symbol	IXAQA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		23,000,000
Warrants, each exercisable to purchase one Class A ordinary share for $11.50 per share
Document Information [Line Items]
Title of 12(b) Security	Warrants, each exercisable to purchase one Class A ordinary share for $11.50 per share
Trading Symbol	IXAQUW
Security Exchange Name	NASDAQ
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,750,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 296,461	$ 611,620
Prepaid expenses	294,750	284,594
Due from related party	2,780	3,495
Total current assets	593,991	899,709
Non-current assets:
Prepaid expenses - non-current	69,401	200,651
Investments held in Trust Account	231,544,826	231,151,505
Total non-current assets	231,614,227	231,352,156
Total Assets	232,208,218	232,251,865
Current liabilities:
Accounts payable	3,146	15,589
Accrued offering costs		6,180
Accrued expenses	709,524	375,024
Total current liabilities	712,670	396,793
Non-current liabilities:
Derivative warrant liabilities	2,079,500	7,889,000
Deferred underwriting fee payable	12,100,000	12,100,000
Total non-current liabilities	14,179,500	19,989,000
Total Liabilities	14,892,170	20,385,793
Commitments and Contingencies (Note 6)
Class A ordinary shares subject to possible redemption, $0.0001 par value, at approximately $10.07 and $10.05 per share, respectively; 23,000,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021	231,544,826	231,151,505
Shareholders' Deficit:
Subscription receivable		(19,982)
Accumulated deficit	(14,229,353)	(19,266,026)
Total shareholders' deficit	(14,228,778)	(19,285,433)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit:	232,208,218	232,251,865
Class B Common Stock
Shareholders' Deficit:
Common stock	$ 575	$ 575

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value, (per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common shares, par value, (per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized	200,000,000	200,000,000
Common shares, shares issued	23,000,000	23,000,000
Common shares, shares outstanding	0	0
Class A Common Stock Subject to Redemption
Class A ordinary shares subject to possible redemption, par value	$ 0.0001	$ 0.0001
Class A ordinary shares subject to possible redemption, redemption value per share	$ 10.07	$ 10.05
Class A ordinary shares subject to possible redemption, shares issued	23,000,000	23,000,000
Class A ordinary shares subject to possible redemption, shares outstanding	23,000,000	23,000,000
Class A Common Stock Not Subject to Redemption
Common shares, shares issued	0	0
Common shares, shares outstanding	0	0
Class B Common Stock
Common shares, par value, (per share)	$ 0.0001	$ 0.0001
Common shares, shares authorized	20,000,000	20,000,000
Common shares, shares issued	5,750,000	5,750,000
Common shares, shares outstanding	5,750,000	5,750,000

UNAUDITED CONDENSED STATEMENTS

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS - USD ($)		3 Months Ended		4 Months Ended	6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022
Operating and formation expenses		$ 341,655	$ 5,677	$ 11,177	$ 772,923
Loss from operations		(341,655)	(5,677)	(11,177)	(772,923)
Other income:
Income from investments held in Trust Account		354,018			393,321
Interest income on operating account		61			96
Change in fair value of derivative warrant liabilities		1,750,000			5,809,500
Total other income		2,104,079			6,202,917
Net income (loss)		$ 1,762,424	$ (5,677)	$ (11,177)	$ 5,429,994
Class A Common Stock
Other income:
Basic weighted average shares outstanding		23,000,000			23,000,000
Diluted weighted average shares outstanding		23,000,000			23,000,000
Basic net income (loss) per share		$ 0.06			$ 0.19
Diluted net income (loss) per share		$ 0.06			$ 0.19
Class B Common Stock
Other income:
Basic weighted average shares outstanding	[1]	5,750,000	5,000,000	5,000,000	5,750,000
Diluted weighted average shares outstanding	[1]	5,750,000	5,000,000	5,000,000	5,750,000
Basic net income (loss) per share		$ 0.06	$ 0	$ 0	$ 0.19
Diluted net income (loss) per share		$ 0.06	$ 0	$ 0	$ 0.19
[1] For the period from March 1, 2021 (inception) through June 30, 2021, the amount excludes up to 750,000 Class B ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. The underwriters exercised the over-allotment in full simultaneously with the closing of the Initial Public Offering on October 12, 2021, thus the 750,000 Class B ordinary shares were no longer subject to forfeiture. (see Note 5).

UNAUDITED CONDENSED STATEMENT_2

UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical)	Jun. 30, 2021 shares
Class B Common Stock | Over Allotment
Maximum number of shares subject to forfeiture	750,000

UNAUDITED CONDENSED STATEMENT_3

UNAUDITED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT) EQUITY - USD ($)	Class B Common Stock Common Stock	Additional Paid-in Capital	Subscription Receivable	Accumulated Deficit	Total
Balance at the beginning at Feb. 28, 2021	$ 0	$ 0		$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class B ordinary shares to Sponsor	$ 575	24,425			25,000
Issuance of Class B ordinary shares to Sponsor (in shares)	5,750,000
Net income (loss)				(5,500)	(5,500)
Balance at the end at Mar. 31, 2021	$ 575	24,425		(5,500)	19,500
Balance at the end (in shares) at Mar. 31, 2021	5,750,000
Balance at the beginning at Feb. 28, 2021	$ 0	0		0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)					(11,177)
Balance at the end at Jun. 30, 2021	$ 575	24,425		(11,177)	13,823
Balance at the end (in shares) at Jun. 30, 2021	5,750,000
Balance at the beginning at Mar. 31, 2021	$ 575	24,425		(5,500)	19,500
Balance at the beginning (in shares) at Mar. 31, 2021	5,750,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)				(5,677)	(5,677)
Balance at the end at Jun. 30, 2021	$ 575	24,425		(11,177)	13,823
Balance at the end (in shares) at Jun. 30, 2021	5,750,000
Balance at the beginning at Dec. 31, 2021	$ 575	0	$ (19,982)	(19,266,026)	(19,285,433)
Balance at the beginning (in shares) at Dec. 31, 2021	5,750,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Remeasurement of Class A ordinary shares to redemption amount				(39,303)	(39,303)
Net income (loss)				3,667,570	3,667,570
Balance at the end at Mar. 31, 2022	$ 575		(19,982)	(15,637,759)	(15,657,166)
Balance at the end (in shares) at Mar. 31, 2022	5,750,000
Balance at the beginning at Dec. 31, 2021	$ 575	$ 0	(19,982)	(19,266,026)	(19,285,433)
Balance at the beginning (in shares) at Dec. 31, 2021	5,750,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)					5,429,994
Balance at the end at Jun. 30, 2022	$ 575			(14,229,353)	(14,228,778)
Balance at the end (in shares) at Jun. 30, 2022	5,750,000
Balance at the beginning at Mar. 31, 2022	$ 575		(19,982)	(15,637,759)	(15,657,166)
Balance at the beginning (in shares) at Mar. 31, 2022	5,750,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repayment of subscription receivable			$ 19,982		19,982
Remeasurement of Class A ordinary shares to redemption amount				(354,018)	(354,018)
Net income (loss)				1,762,424	1,762,424
Balance at the end at Jun. 30, 2022	$ 575			$ (14,229,353)	$ (14,228,778)
Balance at the end (in shares) at Jun. 30, 2022	5,750,000

UNAUDITED CONDENSED STATEMENT_4

UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
Cash Flows from Operating Activities:
Net income (loss)		$ (11,177)	$ 5,429,994
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Change in fair value of derivative warrant liabilities	$ (1,750,000)		(5,809,500)
Income from investments held in Trust Account	(354,018)		(393,321)
Changes in operating assets and liabilities:
Prepaid expenses			121,094
Accounts payable			(12,443)
Accrued expenses			334,500
Net cash used in operating activities		(11,177)	(329,676)
Cash Flows from Financing Activities:
Proceeds from issuance of Promissory note to Sponsor		125,000
Proceeds from subscription receivable			19,982
Repayment from advance to related party, net			715
Offering costs paid		(100,789)	(6,180)
Net cash provided by financing activities		24,211	14,517
Net change in cash		13,034	(315,159)
Cash - beginning of the period		0	611,620
Cash - end of the period	$ 296,461	13,034	296,461
Supplemental disclosure of noncash investing and financing activities:
Accretion of Class A ordinary shares subject to possible redemption amount			$ 354,018
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares		25,000
Deferred offering costs included in Promissory note - related party		11,500
Accrued offering costs		$ 71,587

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	6 Months Ended
	Jun. 30, 2022
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS, AND GOING CONCERN	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS IX Acquisition Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on March 1, 2021. The Company was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar Business Combination with one or more businesses (a “Business Combination”). The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination. The Company is 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 June 30, 2022, the Company had not commenced any operations. All activity for the period from March 1, 2021 (inception) through June 30, 2022 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below, and since the Initial Public Offering, the search for a prospective initial Business Combination. The Company will generate non-operating income in the form of interest income from the amount held in the Trust Account (as defined below). The Company has selected December 31 as its fiscal year end. The registration statement for the Company’s Initial Public Offering was declared effective on October 6, 2021. On October 12, 2021, the Company consummated the Initial Public Offering of 23,000,000 Units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”), including 3,000,000 Units that were issued pursuant to the underwriter’s exercise of its over-allotment option in full, at $10.00 per Unit, generating total gross proceeds of $230,000,000, which is described in Note 3. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 7,150,000 warrants (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to IX Acquisition Sponsor, LLC (the “Sponsor”), Cantor Fitzgerald & Co. (“Cantor”) and Odeon Capital Group, LLC (“Odeon”) generating gross proceeds of $7,150,000, which is discussed in Note 4. Transaction costs amounted to $30,639,304 consisting of $4,000,000 of underwriting fees, $12,100,000 of deferred underwriting fees, $13,853,689 for the excess of the fair value over the sales price of Founder Shares sold to the Anchor Investors (see Note 5), and $685,615 of other offering costs. At December 31, 2021, cash of $611,620 was held outside of the Trust Account (as defined below) and is available for the payment of offering costs and for working capital purposes. Upon the closing of the Initial Public Offering on October 12, 2021, an amount of $231,150,000 from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”) and invested only in U.S. government treasury obligations with maturities of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations, until the earliest of: (i) the completion of the initial Business Combination; (ii) the redemption of any Public Shares properly tendered in connection with a shareholder vote to amend the amended and restated memorandum and articles of association (the “Amended and Restated Memorandum and Articles of Association”) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete the initial Business Combination within 18 months from the closing of the Initial Public Offering (by April 12, 2023); and (iii) absent an initial Business Combination within 18 months from the closing of the Initial Public Offering (by April 12, 2023) assuming there is no amendment to the Amended and Restated Memorandum and Articles of Association to extend the period of time to consummate a Business Combination or with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, the return of the funds held in the Trust Account to the public shareholders as part of the redemption of the Public Shares. If the Company does not invest the proceeds as discussed above, the Company may be deemed to be subject to the Investment Company Act. If the Company is deemed to be subject to the Investment Company Act, compliance with these additional regulatory burdens would require additional expenses for which the Company has not allotted funds and may hinder the Company’s ability to complete a Business Combination. If the Company is unable to complete the initial Business Combination, the Company’s public shareholders may only receive their pro rata portion of the funds in the Trust Account that are available for distribution to public shareholders, and the warrants will expire worthless. The Company will provide its 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, solely in its discretion. All public shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.05 per Public Share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. All Public Shares subject to redemption were recorded at redemption value and classified as temporary equity upon the completion of the Initial Public Offering in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, Distinguishing Liabilities from Equity (“ASC 480”). The Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon consummation of such Business Combination and a majority of the shares voted are voted in favor of the Business Combination. If a shareholder vote is not required under 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 Amended and Restated Memorandum and Articles of Association as then in effect, conduct the redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. If the Company seeks shareholder approval in connection with a Business Combination, the initial shareholders, Anchor Investors, and management team have agreed to vote any Founder Shares (as defined in Note 5) held by them, and any Public Shares purchased in or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each public shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or whether they were a public shareholder on the record date for the general meeting held to approve the proposed transaction. Notwithstanding the above, if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association 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% of the Public Shares, without the Company’s prior written consent. The initial shareholders (as described in Note 5) have agreed to (i) waive their redemption rights with respect to any Founder Shares and Public Shares they hold in connection with the completion of an initial Business Combination, (ii) waive their redemption rights with respect to any Founder Shares and Public Shares they hold in connection with a shareholder vote to approve an amendment to the Amended and Restated Memorandum and Articles of Association to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within 18 months from the closing of the Initial Public Offering (by April 12, 2023) or with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity and (iii) waive their rights to liquidating distributions from the Trust Account with respect to any Founder Shares they hold if the Company fails to complete an initial Business Combination within 18 months from the Initial Public Offering (by April 12, 2023) assuming there is no amendment to the Amended and Restated Memorandum and Articles of Association to extend the period of time to consummate a Business Combination. However, if the initial shareholders acquire Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period (as defined below). The Company will have until 18 months from the closing of the Initial Public Offering (by April 12, 2023), assuming there is no amendment to the Amended and Restated Memorandum and Articles of Association to extend the period of time to consummate a Business Combination, (the “Combination Period”) to complete a Business Combination. If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten The underwriters have agreed to waive their rights to their 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 assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). 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 third party 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 to below (1) $10.05 per Public Share or (2) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.05 per Public Share due to reductions in the value of the trust assets, in each case net of the interest that may be withdrawn to pay the Company’s tax obligations, provided that such liability will not apply to any claims by a third-party or prospective target business that executed a waiver of any and all rights to seek access to the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering 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 (other than the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN	NOTE 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN Basis of Presentation The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under GAAP and the rules of the SEC. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or any future period. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on April 13, 2022, which contains the audited financial statements and notes thereto. The financial information as of December 31, 2021, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on April 13, 2022. Going Concern Consideration As of June 30, 2022, the Company had approximately $ 296,000 Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the unaudited condensed financial statements are issued. Management plans to address this uncertainty through the initial Business Combination as discussed above. There is no assurance that the Company’s plans to consummate the initial Business Combination will be successful or successful within 18 months from the Initial Public Offering (by April 12, 2023). The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of the unaudited condensed financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. In February 2022, the Russian Federation invaded Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these unaudited condensed financial statements. The specific impact on our financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited condensed financial statements. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the 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 condensed financial statements with another public company which is neither an emerging growth company nor an emerging growth company which 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 the unaudited condensed financial statements in conformity with 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates are related to the fair value of the warrants. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ from those estimates. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Corporation coverage limit of $250,000. As of June 30, 2022 and December 31, 2021, the Company has not experienced losses on these accounts. 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 June 30, 2022 and December 31, 2021. Investments Held in Trust Account The Company’s portfolio of investments is comprised of U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities and generally have a readily determinable fair value, or a combination thereof. When the Company’s investments held in the Trust Account are comprised of U.S. government securities, the investments are classified as trading securities. When the Company’s investments held in the Trust Account are comprised of money market funds, the investments are recognized at fair value. Trading securities and investments in money market funds are presented on the unaudited condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in income from investments held in Trust Account in the accompanying unaudited condensed statements of operations. The estimated fair values of investments held in the Trust Account are determined using available market information. As of June 30, 2022 and December 31, 2021, the assets held in the Trust Account were in U.S. Treasury securities. Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). Derivative instruments are initially recorded at fair value on the grant date and re-valued at each reporting date, with changes in the fair value reported in the unaudited condensed statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Derivative warrant liabilities are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities. The Company evaluated the Public Warrants (as defined in Note 3) and Private Placement Warrants in accordance with ASC 480 and ASC 815 and concluded that a provision in the warrant agreement related to certain tender or exchange offers precludes the Public Warrants and Private Placement Warrants from being accounted for as components of equity. As the Public Warrants and Private Placement Warrants meet the definition of a derivative as contemplated in ASC 815, they were recorded as derivative liabilities on the unaudited condensed balance sheets and measured at fair value at inception (on the date of the Public Offering) and at each reporting date in accordance with ASC 820, “Fair Value Measurement” (“ASC 820”), with changes in fair value recognized in the unaudited condensed statements of operations in the period of change. The determination of fair value for the warrant liabilities represents a significant estimate within the unaudited condensed financial statements . Fair Value of Financial Instruments ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value. The carrying amounts reflected in the unaudited condensed balance sheets for cash, due from related party, and accounts payable approximate fair value due to their short-term nature. The three levels of the fair value hierarchy under ASC 820 are as follows: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment. See Note 9 for additional information on assets and liabilities measured at fair value. Class A Ordinary Shares Subject to Possible Redemption All of the 23,000,000 Class A ordinary shares sold as part of the Units in the Initial Public Offering and subsequent full exercise of the underwriters’ over-allotment option contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Amended and Restated Memorandum and Articles of Association. In accordance with SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. Therefore, all Public Shares have been classified outside of permanent equity. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit. As of June 30, 2022 and December 31, 2021, the Class A ordinary shares subject to redemption reflected in the condensed balance sheets are reconciled in the following table: ​ ​ ​ ​ ​ Class A ordinary shares subject to possible redemption – December 31, 2021 $ 231,151,505 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ 39,303 Class A ordinary shares subject to possible redemption – March 31, 2022 (unaudited) ​ ​ 231,190,808 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ ​ 354,018 Class A ordinary shares subject to possible redemption – June 30, 2022 (unaudited) $ 231,544,826 ​ Offering Costs associated with the Initial Public Offering Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with derivative warrant liabilities were expensed as incurred and presented as non-operating expenses in the unaudited condensed statements of operations. Offering costs associated with the Class A ordinary shares were charged against the carrying value of Class A ordinary shares subject to possible redemption upon the completion of the Initial Public Offering. Deferred underwriting commissions are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities. Income Taxes The Company accounts for income taxes under ASC 740, Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position 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. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s condensed financial statements. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2022 and December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There are no taxes in the Cayman Islands and accordingly income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s condensed financial statements. Net Income (Loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per ordinary share is computed by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Remeasurement associated with the redeemable Class A ordinary shares is excluded from net income (loss) per share as the redemption value approximates fair value. Therefore, the income per share calculation allocates income (loss) shared pro rata between Class A and Class B ordinary shares. The Company has not considered the effect of the exercise of the Public Warrants (as defined in Note 3) and Private Placement Warrants (as defined in Note 4) to purchase an aggregate of 18,650,000 shares in the calculation of diluted income per share, since the exercise of the warrants is contingent upon the occurrence of future events. The following tables reflect the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2022 ​ For the Six Months Ended June 30, 2022 ​ Class A Class B Class A Class B Basic and diluted net income per ordinary share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income ​ $ 1,409,939 ​ $ 352,485 ​ $ 4,343,995 ​ $ 1,085,999 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ 23,000,000 ​ 5,750,000 ​ 23,000,000 ​ 5,750,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per ordinary share ​ $ 0.06 ​ $ 0.06 ​ $ 0.19 ​ $ 0.19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2021 ​ For the Six Months Ended June 30, 2021 ​ Class A Class B Class A Class B Basic and diluted net (loss) per ordinary share: ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net (loss) ​ $ — ​ $ (5,677) ​ $ — ​ $ (11,177) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ — ​ 5,000,000 ​ — ​ 5,000,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net (loss) per ordinary share ​ $ — ​ $ (0.00) ​ $ — ​ $ (0.00) ​ Recent Accounting Pronouncements Management does not believe there are any material recently issued, but not yet effective, accounting standards that, if currently adopted, would have a material effect on the Company’s condensed financial statements.

INITIAL PUBLIC OFFERING

INITIAL PUBLIC OFFERING	6 Months Ended
	Jun. 30, 2022
INITIAL PUBLIC OFFERING
INITIAL PUBLIC OFFERING	NOTE 3. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, which was consummated on October 12, 2021, the Company sold 23,000,000 Units, including 3,000,000 Units that were issued pursuant to the underwriters’ exercise of their over-allotment option in full, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one-half

PRIVATE PLACEMENT

PRIVATE PLACEMENT	6 Months Ended
	Jun. 30, 2022
PRIVATE PLACEMENT
PRIVATE PLACEMENT	NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor, Cantor and Odeon purchased an aggregate of 7,150,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant ($7,150,000 in the aggregate), $19,982 of which was not yet funded by the Sponsor and recorded as a subscription receivable as of December 31, 2021. The subscription receivable was paid on April 12, 2022. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share. The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On March 11, 2021, the Sponsor was issued 5,750,000 Class B ordinary shares (the “Founder Shares”) for an aggregate of $25,000 paid to cover certain expenses on behalf of the Company. The Founder Shares included an aggregate of up to 750,000 Class B ordinary shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Sponsor and its permitted transferees own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. The underwriters exercised the over-allotment in full simultaneously with the closing of the Initial Public Offering, thus the 750,000 Class B ordinary shares are no longer subject to forfeiture. The initial shareholders have agreed that, subject to certain limited exceptions, the Founder Shares will not be transferred, assigned, or sold until the earlier of (i) one year after the completion of a Business Combination or (ii) subsequent to an initial Business Combination, (x) if the closing price of Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after an initial Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the public shareholders having the right to exchange their ordinary shares for cash, securities or other property. A total of eight Anchor Investors purchased 1,980,000 Units in the Initial Public Offering at the offering price of $10.00 per Unit; six Anchor Investors purchased 980,000 Units in the Initial Public Offering at the offering price of $10.00 per Unit; one Anchor Investor purchased 780,000 Units in the Initial Public Offering at the offering price of $10.00 per Unit; and one Anchor Investor purchased 500,000 Units in the Initial Public Offering at the offering price of $10.00 per unit. Pursuant to such Units, the anchor investors (the “Anchor Investors”) have not been granted any shareholder or other rights in addition to those afforded to the Company’s other public shareholders. Further, the Anchor Investors are not required to (i) hold any Units, Class A ordinary shares or warrants they may purchase in the Initial Public Offering or thereafter for any amount of time, (ii) vote any Class A ordinary shares they may own at the applicable time in favor of the Business Combination or (iii) refrain from exercising their right to redeem their Public Shares at the time of the Business Combination. The Anchor Investors will have the same rights to the funds held in the Trust Account with respect to the Class A ordinary shares underlying the Units purchased in the Initial Public Offering as the rights afforded to the Company’s other public shareholders. Each Anchor Investor entered into separate investment agreements with the Company and the Sponsor pursuant to which each Anchor Investor purchased a specified number of Founder Shares, or an aggregate of 1,747,879 Founder Shares, from the Sponsor for $0.004 per share, or an aggregate purchase price of $6,992 at the closing of the Initial Public Offering. Pursuant to the investment agreements, the Anchor Investors have agreed to (a) vote any Founder Shares held by them in favor of the Business Combination and (b) subject any Founder Shares held by them to the same lock-up restrictions as the Founder Shares held by the Sponsor and independent directors. The Company estimated the fair value of the Founder Shares attributable to the Anchor Investors to be $13,860,681 or $7.93 per share recognized upon the Initial Public Offering. The Company determined the fair value based on a stock price simulation performed by a third party. The excess of the fair value of the Founder Shares sold over the purchase price of $6,992 (or $0.004 per share) was determined to be an offering cost in accordance with Staff Accounting Bulletin Topic 5A. Accordingly, the offering cost was allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to derivative warrant liabilities were expensed in the unaudited condensed statements of operations. Offering costs allocated to the Public Shares were charged to temporary equity upon the completion of the Initial Public Offering. Promissory Note—Related Party On March 11, 2021, the Sponsor agreed to loan the Company an aggregate of up to $300,000 to cover expenses related to the Initial Public Offering pursuant to a promissory note (the “Promissory Note”). This loan was non-interest bearing and upon the consummation of the Initial Public Offering. The Company borrowed $250,000 under the Promissory Note and repaid the outstanding balance on October 12, 2021. The Promissory Note was no longer available after the consummation of the Initial Public Offering. Due from Related Party Due from related party consists of amounts owed from IX Acquisition Sponsor LLC, due to expenses paid by the Company on behalf of IX Acquisition Services LLC. As of June 30, 2022 and December 31, 2021, the Company had approximately $2,800 and $3,500 outstanding, respectively. The Company fully settled these amounts on July 21, 2022 and April 12, 2022, respectively. Administrative Support Agreement On October 6, 2021, the Company entered into an agreement with IX Acquisition Services LLC, an entity owned by an affiliate of the Sponsor, to pay a total of $10,000 per month for office space, secretarial and administrative services. Upon completion of a Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. During the three months ended June 30, 2022 and 2021, the Company incurred expenses in connection with such services of $30,000 and $0, respectively, included within operating and formation expenses on the accompanying unaudited condensed statements of operations. During the six months ended June 30, 2022 and the period from March 1, 2021 (inception) through June 30, 2021, the Company incurred expenses in connection with such services of $60,000 and $0, respectively, included within operating and formation expenses on the accompanying unaudited condensed statements of operations. Related Party Loans The Sponsor has committed to loan the Company an aggregate of up to $1,400,000 for working capital purposes (“Committed Sponsor Loans”), at the Company’s request, on or after January 15, 2022. Such Committed Sponsor Loans will be convertible into Private Placement Warrants, each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or up to $1,400,000 in the aggregate. In addition, in order to finance transaction costs in connection with an intended initial 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 (except in the case of the Committed Sponsor Loans), loan the Company additional funds as may be required on a non-interest basis (together with the Committed Sponsor Loans, the “Working Capital Loans”). If the Company completes an initial Business Combination, the Company would repay such loaned amounts. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Company’s Trust Account would be used for such repayment. Up to $1,500,000 of such loans (which amount includes the Committed Sponsor Loans) may be convertible into warrants of the post Business Combination entity at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the Private Placement Warrants. As of June 30, 2022 and December 31, 2021, there were no borrowings under these loans.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights Agreement The holders of the Founder Shares, Private Placement Warrants and Public Warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants and warrants issued upon conversion of the Working Capital Loans) are entitled to registration rights pursuant to a registration rights agreement signed on the effective date of the registration statement for the Company’s Initial Public Offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to consummation of a Business Combination. The Company has granted Cantor and Odeon or their designees or affiliates certain registration rights relating to these securities. The underwriters may not exercise their demand and “piggyback” registration rights after five and seven years, respectively, after the effective date of the registration statement relating to the Initial Public Offering and may not exercise demand rights on more than one occasion. The Company bears the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement In connection with the Initial Public Offering, the underwriters were granted a 45-day option from the date of the prospectus to purchase up to 3,000,000 additional Units to cover over-allotments. On October 12, 2021, the underwriters fully exercised the over-allotment option to purchase an additional 3,000,000 Units at an offering price of $10.00 per Unit, generating additional gross proceeds of $30,000,000 to the Company. The underwriters were paid a cash underwriting discount of $0.20 per Unit (excluding over-allotment Units) in the Initial Public Offering, or $4,000,000 in the aggregate, upon the closing of the Initial Public Offering. In addition, $0.50 per Unit (excluding over-allotment Units) and $0.70 per over-allotment Unit (totaling $12,100,000 in the aggregate) is payable to the underwriters for deferred underwriting commissions. The deferred fee is payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.

WARRANTS

WARRANTS	6 Months Ended
	Jun. 30, 2022
WARRANTS
WARRANTS	NOTE 7. WARRANTS As of June 30, 2022 and December 31, 2021, there were an aggregate of 18,650,000 warrants outstanding, comprised of 11,500,000 Public Warrants and 7,150,000 Private Placement Warrants. Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the completion of a Business Combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying the obligations described below with respect to registration. No warrant will be exercisable and the Company will not be obligated to issue Class A ordinary shares upon exercise of a warrant unless the Class A ordinary shares issuable upon such warrant exercise have been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will the Company be required to net cash settle any warrant. The Company has agreed that as soon as practicable, but in no event later than fifteen (15) business days after the closing of an initial Business Combination, the Company will use its best efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the sixtieth (60th) business day after the closing of an initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, the Company will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Redemption of warrants for cash ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon not less than 30 days ’ prior written notice of redemption (the “30-day redemption period”)to each warrant holder; and ● if, and only if, the closing price of the ordinary shares equals or exceeds $18.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like and for certain issuances of Class A ordinary shares and equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination) for any 20 trading days within a 30 -trading day period ending three business days before the Company sends to the notice of redemption to the warrant holders. The Company will not redeem the warrants for cash unless an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants is effective and a current prospectus relating to those Class A ordinary shares is available throughout the 30-day redemption period, except if the warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration under the Securities Act. If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if the Company is unable to register or qualify the underlying securities for sale under all applicable state securities laws. If the Company calls the warrants for redemption as described above, the Company’s management will have the option to require all holders that wish to exercise warrants to do so on a “cashless basis.” In determining whether to require all holders to exercise their warrants on a “cashless basis,” the Company’s management will consider, among other factors, its cash position, the number of warrants that are outstanding and the dilutive effect on the Company’s shareholders of issuing the maximum number of Class A ordinary shares issuable upon the exercise of the warrants. In such event, each holder would pay the exercise price by surrendering the warrants for that number of Class A ordinary shares equal to the quotient obtained by dividing (x) the product of the number of Class A ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” of the Company’s Class A ordinary shares (defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value” will mean the average reported closing price of the Class A ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of an initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the initial shareholders, and Anchor Investors, or their affiliates, without taking into account any Founder Shares held by the initial shareholders, and Anchor Investors or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of an initial Business Combination on the date of the consummation of an initial Business Combination (net of redemptions), and the volume weighted average trading price of the Class A ordinary shares during the 20 trading day period starting on the trading day after the day on which the Company consummates an initial 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 higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. The Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of an initial Business Combination (except, among other limited exceptions, to the officers and directors and other persons or entities affiliated with the initial purchasers of the Private Placement Warrants) and they will not be redeemable by the Company so long as they are held by the initial purchasers or their permitted transferees. The initial purchasers, or their permitted transferees, have the option to exercise the Private Placement Warrants on a cashless basis. Except as described in this section, the Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants. If the Private Placement Warrants are held by holders other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants. The accounting treatment of derivative financial instruments requires that the Company record the warrants as derivative liabilities at fair value upon the closing of the Initial Public Offering. The Public Warrants have been allocated a portion of the proceeds from the issuance of the Units equal to its fair value. The warrant liabilities are subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liabilities will be adjusted to its current fair value, with the change in fair value recognized in the Company’s condensed statements of operations. The Company will reassess the classification at each balance sheet date. If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification.

CLASS A ORDINARY SHARES SUBJECT

CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS DEFICIT	6 Months Ended
	Jun. 30, 2022
CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT
CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT	NOTE 8. CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS’ DEFICIT Preference Shares Class A Ordinary Shares Class B Ordinary Shares Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Except as described below, holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the Company’s shareholders except as required by law. Unless specified in the Company’s Amended and Restated Memorandum and Articles of Association, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, the affirmative vote of a majority of the ordinary shares that are voted is required to approve any such matter voted on by the shareholders. Approval of certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of the ordinary shares that are voted, and pursuant to the Amended and Restated Memorandum and Articles of Association; such actions include amending the Amended and Restated Memorandum and Articles of Association and approving a statutory merger or consolidation with another company. The Company’s board of directors is divided into three classes, each of which will generally serve for a term of three years with only one class of directors being appointed in each year. There is no cumulative voting with respect to the appointment of directors, with the result that the holders of more than 50% of the shares voted for the appointment of directors can appoint all of the directors. The Company’s shareholders are entitled to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor. Prior to the Company’s initial Business Combination, (i) only holders of the Founder Shares will have the right to vote on the appointment of directors and (ii) in a vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two thirds of the votes of all ordinary shares), holders of the Company’s Class B ordinary shares will have ten votes for every Class B ordinary share and holders of the Class A ordinary shares will have one vote for every Class A ordinary share. These provisions of the Company’s Amended and Restated Memorandum and Articles of Association may only be amended by a special resolution passed by not less than 90% of the ordinary shares who attend and vote at the Company’s general meeting which shall include the affirmative vote of a simple majority of the Class B ordinary shares. Holders of the Public Shares will not be entitled to vote on the appointment of directors prior to the initial Business Combination. In addition, prior to the completion of an initial Business Combination, holders of a majority of the Founder Shares may remove a member of the board of directors for any reason. In connection with the initial Business Combination, the Company may enter into a shareholders agreement or other arrangements with the shareholders of the target with respect to voting and other corporate governance matters following completion of the initial Business Combination.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 9. FAIR VALUE MEASUREMENTS The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount at Fair ​ ​ ​ ​ ​ ​ Description ​ Value ​ Level 1 ​ Level 2 ​ Level 3 June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Investments held in Trust Account (1) ​ $ 231,544,826 ​ $ 231,544,826 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ Warrant liability – Public Warrants ​ $ 1,150,000 ​ $ 1,150,000 ​ $ — ​ $ — Warrant liability – Private Placement Warrants ​ $ 929,500 ​ $ — ​ $ — ​ $ 929,500 Total Liabilities ​ $ 2,079,500 ​ $ 1,150,000 ​ $ — ​ $ 929,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount at Fair ​ ​ ​ ​ ​ ​ Description ​ Value ​ Level 1 ​ Level 2 ​ Level 3 December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Investments held in Trust Account (1) ​ $ 231,151,505 ​ $ 231,151,505 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ Warrant liability – Public Warrants ​ $ 4,600,000 ​ $ 4,600,000 ​ $ — ​ $ — Warrant liability – Private Placement Warrants ​ $ 3,289,000 ​ $ — ​ $ — ​ $ 3,289,000 Total Liabilities ​ $ 7,889,000 ​ $ 4,600,000 ​ $ — ​ $ 3,289,000 (1) Includes $ 614 and $ 1,432 in cash as of June 30, 2022 and December 31, 2021, respectively. The Company utilized a Monte-Carlo simulation model for the initial valuation of the Public Warrants. The subsequent measurement of the Public Warrants as of December 31, 2021 and June 30, 2022 was classified as Level 1 due to the use of an observable market quote in an active market under the ticker IXAQW. The Company utilized a probability-adjusted Black-Scholes method to value the Private Placement Warrants at each reporting period, with changes in fair value recognized in the unaudited condensed statements of operations. The estimated fair value of the Private Placement Warrant liabilities are determined using Level 3 inputs. Inherent in pricing models 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 historical volatility that matches the expected remaining life of the warrants. 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. Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period. The estimated fair value of the Public Warrants transferred from a Level 3 measurement to a Level 1 fair value measurement after the Public Warrants were separately listed and traded. The following table provides the significant inputs to the probability-adjusted Black-Scholes method for the fair value of the Private Placement Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ December 31, 2021 ​ Stock price $ 9.81 ​ ​ $ 9.70 ​ Exercise price ​ $ 11.50 ​ ​ $ 11.50 ​ Dividend yield ​ ​ — % ​ ​ — % Expected term (in years) ​ ​ 5.52 ​ ​ 5.52 ​ Volatility ​ ​ 2.1 % ​ 9.2 % Risk-free rate ​ ​ 2.97 % ​ ​ 1.30 % Fair value ​ $ 0.13 ​ ​ $ 0.46 ​ ​ The following table provides a summary of the changes in the fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis: ​ ​ ​ ​ ​ Fair value at December 31, 2021 $ 3,289,000 Change in fair value of Private Placement Warrants ​ ​ (1,644,500) Fair value at March 31, 2022 (unaudited) ​ ​ 1,644,500 Change in fair value of Private Placement Warrants ​ ​ (715,000) Fair value at June 30, 2022 (unaudited) ​ $ 929,500 ​ The Company recognized gains in connection with changes in the fair value of the Public Warrants and Private Placement Warrants of approximately $1.8 million and approximately $5.8 million within change in fair value of warrant liabilities in the unaudited condensed statements of operations for the three and six months ended June 30, 2022, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements. ​

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN (Policies)	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, certain disclosures included in the annual financial statements have been condensed or omitted from these financial statements as they are not required for interim financial statements under GAAP and the rules of the SEC. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or any future period. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on April 13, 2022, which contains the audited financial statements and notes thereto. The financial information as of December 31, 2021, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on April 13, 2022.
Going Concern Consideration	Going Concern Consideration As of June 30, 2022, the Company had approximately $ 296,000 Management has determined that the liquidity condition and mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the unaudited condensed financial statements are issued. Management plans to address this uncertainty through the initial Business Combination as discussed above. There is no assurance that the Company’s plans to consummate the initial Business Combination will be successful or successful within 18 months from the Initial Public Offering (by April 12, 2023). The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Risks and Uncertainties	Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of the unaudited condensed financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. In February 2022, the Russian Federation invaded Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these unaudited condensed financial statements. The specific impact on our financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited condensed financial statements.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the 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 condensed financial statements with another public company which is neither an emerging growth company nor an emerging growth company which 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 the unaudited condensed financial statements in conformity with 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates are related to the fair value of the warrants. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ from those estimates.
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 a financial institution, which, at times, may exceed the Federal Depository Insurance Corporation coverage limit of $250,000. As of June 30, 2022 and December 31, 2021, the Company has not experienced losses on these accounts.
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 June 30, 2022 and December 31, 2021.
Investments Held in Trust Account	Investments Held in Trust Account The Company’s portfolio of investments is comprised of U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less, or investments in money market funds that invest in U.S. government securities and generally have a readily determinable fair value, or a combination thereof. When the Company’s investments held in the Trust Account are comprised of U.S. government securities, the investments are classified as trading securities. When the Company’s investments held in the Trust Account are comprised of money market funds, the investments are recognized at fair value. Trading securities and investments in money market funds are presented on the unaudited condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in income from investments held in Trust Account in the accompanying unaudited condensed statements of operations. The estimated fair values of investments held in the Trust Account are determined using available market information. As of June 30, 2022 and December 31, 2021, the assets held in the Trust Account were in U.S. Treasury securities.
Derivative Financial Instruments	Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). Derivative instruments are initially recorded at fair value on the grant date and re-valued at each reporting date, with changes in the fair value reported in the unaudited condensed statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Derivative warrant liabilities are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities. The Company evaluated the Public Warrants (as defined in Note 3) and Private Placement Warrants in accordance with ASC 480 and ASC 815 and concluded that a provision in the warrant agreement related to certain tender or exchange offers precludes the Public Warrants and Private Placement Warrants from being accounted for as components of equity. As the Public Warrants and Private Placement Warrants meet the definition of a derivative as contemplated in ASC 815, they were recorded as derivative liabilities on the unaudited condensed balance sheets and measured at fair value at inception (on the date of the Public Offering) and at each reporting date in accordance with ASC 820, “Fair Value Measurement” (“ASC 820”), with changes in fair value recognized in the unaudited condensed statements of operations in the period of change. The determination of fair value for the warrant liabilities represents a significant estimate within the unaudited condensed financial statements .
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820 establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets will typically have a higher degree of input observability and a lesser degree of judgment applied in determining fair value. The carrying amounts reflected in the unaudited condensed balance sheets for cash, due from related party, and accounts payable approximate fair value due to their short-term nature. The three levels of the fair value hierarchy under ASC 820 are as follows: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some cases, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the investment is categorized in its entirety is determined based on the lowest level input that is significant to the investment. Assessing the significance of a particular input to the valuation of an investment in its entirety requires judgment and considers factors specific to the investment. The categorization of an investment within the hierarchy is based upon the pricing transparency of the investment and does not necessarily correspond to the perceived risk of that investment. See Note 9 for additional information on assets and liabilities measured at fair value.
Class A Ordinary Shares Subject to Possible Redemption	Class A Ordinary Shares Subject to Possible Redemption All of the 23,000,000 Class A ordinary shares sold as part of the Units in the Initial Public Offering and subsequent full exercise of the underwriters’ over-allotment option contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Amended and Restated Memorandum and Articles of Association. In accordance with SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. Therefore, all Public Shares have been classified outside of permanent equity. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid in capital and accumulated deficit. As of June 30, 2022 and December 31, 2021, the Class A ordinary shares subject to redemption reflected in the condensed balance sheets are reconciled in the following table: ​ ​ ​ ​ ​ Class A ordinary shares subject to possible redemption – December 31, 2021 $ 231,151,505 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ 39,303 Class A ordinary shares subject to possible redemption – March 31, 2022 (unaudited) ​ ​ 231,190,808 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ ​ 354,018 Class A ordinary shares subject to possible redemption – June 30, 2022 (unaudited) $ 231,544,826
Offering Costs Associated with the Initial Public Offering	Offering Costs associated with the Initial Public Offering Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with derivative warrant liabilities were expensed as incurred and presented as non-operating expenses in the unaudited condensed statements of operations. Offering costs associated with the Class A ordinary shares were charged against the carrying value of Class A ordinary shares subject to possible redemption upon the completion of the Initial Public Offering. Deferred underwriting commissions are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position 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. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s condensed financial statements. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2022 and December 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There are no taxes in the Cayman Islands and accordingly income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s condensed financial statements.
Net Income (Loss) Per Ordinary Share	Net Income (Loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per ordinary share is computed by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Remeasurement associated with the redeemable Class A ordinary shares is excluded from net income (loss) per share as the redemption value approximates fair value. Therefore, the income per share calculation allocates income (loss) shared pro rata between Class A and Class B ordinary shares. The Company has not considered the effect of the exercise of the Public Warrants (as defined in Note 3) and Private Placement Warrants (as defined in Note 4) to purchase an aggregate of 18,650,000 shares in the calculation of diluted income per share, since the exercise of the warrants is contingent upon the occurrence of future events. The following tables reflect the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2022 ​ For the Six Months Ended June 30, 2022 ​ Class A Class B Class A Class B Basic and diluted net income per ordinary share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income ​ $ 1,409,939 ​ $ 352,485 ​ $ 4,343,995 ​ $ 1,085,999 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ 23,000,000 ​ 5,750,000 ​ 23,000,000 ​ 5,750,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per ordinary share ​ $ 0.06 ​ $ 0.06 ​ $ 0.19 ​ $ 0.19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2021 ​ For the Six Months Ended June 30, 2021 ​ Class A Class B Class A Class B Basic and diluted net (loss) per ordinary share: ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net (loss) ​ $ — ​ $ (5,677) ​ $ — ​ $ (11,177) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ — ​ 5,000,000 ​ — ​ 5,000,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net (loss) per ordinary share ​ $ — ​ $ (0.00) ​ $ — ​ $ (0.00)
Recent Accounting Standards	Recent Accounting Pronouncements Management does not believe there are any material recently issued, but not yet effective, accounting standards that, if currently adopted, would have a material effect on the Company’s condensed financial statements.

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN (Tables)	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN
Schedule of reconciliation of Class A ordinary shares subject to redemption reflected in the balance sheet	​ ​ ​ ​ ​ Class A ordinary shares subject to possible redemption – December 31, 2021 $ 231,151,505 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ 39,303 Class A ordinary shares subject to possible redemption – March 31, 2022 (unaudited) ​ ​ 231,190,808 Plus: ​ ​ ​ Increase in redemption value of Class A ordinary shares subject to redemption ​ ​ 354,018 Class A ordinary shares subject to possible redemption – June 30, 2022 (unaudited) $ 231,544,826
Schedule of calculation of basic and diluted net income (loss) per ordinary share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2022 ​ For the Six Months Ended June 30, 2022 ​ Class A Class B Class A Class B Basic and diluted net income per ordinary share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ Allocation of net income ​ $ 1,409,939 ​ $ 352,485 ​ $ 4,343,995 ​ $ 1,085,999 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ 23,000,000 ​ 5,750,000 ​ 23,000,000 ​ 5,750,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net income per ordinary share ​ $ 0.06 ​ $ 0.06 ​ $ 0.19 ​ $ 0.19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended June 30, 2021 ​ For the Six Months Ended June 30, 2021 ​ Class A Class B Class A Class B Basic and diluted net (loss) per ordinary share: ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net (loss) ​ $ — ​ $ (5,677) ​ $ — ​ $ (11,177) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted average ordinary shares outstanding - basic and diluted ​ — ​ 5,000,000 ​ — ​ 5,000,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net (loss) per ordinary share ​ $ — ​ $ (0.00) ​ $ — ​ $ (0.00)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
FAIR VALUE MEASUREMENTS
Schedule of company's financial assets that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount at Fair ​ ​ ​ ​ ​ ​ Description ​ Value ​ Level 1 ​ Level 2 ​ Level 3 June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Investments held in Trust Account (1) ​ $ 231,544,826 ​ $ 231,544,826 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ Warrant liability – Public Warrants ​ $ 1,150,000 ​ $ 1,150,000 ​ $ — ​ $ — Warrant liability – Private Placement Warrants ​ $ 929,500 ​ $ — ​ $ — ​ $ 929,500 Total Liabilities ​ $ 2,079,500 ​ $ 1,150,000 ​ $ — ​ $ 929,500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount at Fair ​ ​ ​ ​ ​ ​ Description ​ Value ​ Level 1 ​ Level 2 ​ Level 3 December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Investments held in Trust Account (1) ​ $ 231,151,505 ​ $ 231,151,505 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ Warrant liability – Public Warrants ​ $ 4,600,000 ​ $ 4,600,000 ​ $ — ​ $ — Warrant liability – Private Placement Warrants ​ $ 3,289,000 ​ $ — ​ $ — ​ $ 3,289,000 Total Liabilities ​ $ 7,889,000 ​ $ 4,600,000 ​ $ — ​ $ 3,289,000 (1) Includes $ 614 and $ 1,432 in cash as of June 30, 2022 and December 31, 2021, respectively.
Schedule of change in the fair value of the warrant liabilities	The following table provides the significant inputs to the probability-adjusted Black-Scholes method for the fair value of the Private Placement Warrants: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ December 31, 2021 ​ Stock price $ 9.81 ​ ​ $ 9.70 ​ Exercise price ​ $ 11.50 ​ ​ $ 11.50 ​ Dividend yield ​ ​ — % ​ ​ — % Expected term (in years) ​ ​ 5.52 ​ ​ 5.52 ​ Volatility ​ ​ 2.1 % ​ 9.2 % Risk-free rate ​ ​ 2.97 % ​ ​ 1.30 % Fair value ​ $ 0.13 ​ ​ $ 0.46 ​
Schedule of quantitative information regarding Level 3 fair value measurements inputs	​ ​ ​ ​ ​ Fair value at December 31, 2021 $ 3,289,000 Change in fair value of Private Placement Warrants ​ ​ (1,644,500) Fair value at March 31, 2022 (unaudited) ​ ​ 1,644,500 Change in fair value of Private Placement Warrants ​ ​ (715,000) Fair value at June 30, 2022 (unaudited) ​ $ 929,500

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details) - USD ($)		6 Months Ended
	Oct. 12, 2021	Jun. 30, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Purchase price, per unit		$ 10.05
Transaction Costs		$ 30,639,304
Underwriting fees		4,000,000
Other offering costs		685,615
Deferred underwriting fee payable		12,100,000
Excess of Fair value		13,853,689
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%
Redemption period upon closure		10 days
Maximum allowed dissolution expenses		$ 100,000
Period of initial business combination for closing of initial public offering		18 months
Initial Public Offering price per unit		$ 10
Cash held outside the Trust Account		$ 296,461	$ 611,620
Warrants.
Subsidiary, Sale of Stock [Line Items]
Sale of Private Placement Warrants (in shares)		18,650,000
Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Price of warrant		$ 1
Proceeds from sale of Private Placement Warrants		$ 7,150,000
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts (in shares)	23,000,000	3,000,000
Purchase price, per unit	$ 10
Proceeds from issuance initial public offering	$ 230,000,000
Deferred underwriting fee payable		$ 4,000,000
Initial Public Offering | Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Investment of cash into Trust Account	$ 231,150,000
Private Placement | Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Sale of Private Placement Warrants (in shares)	7,150,000	7,150,000
Price of warrant	$ 1	$ 11.50
Proceeds from sale of Private Placement Warrants	$ 7,150,000
Over Allotment
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts (in shares)	3,000,000
Purchase price, per unit	$ 10
Deferred underwriting fee payable		$ 12,100,000

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN (Details) - USD ($)		3 Months Ended		6 Months Ended
	Oct. 12, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Unrecognized tax benefits		$ 0		$ 0	$ 0
Unrecognized tax benefits accrued for interest and penalties		0		0	0
Federal depository insurance coverage		250,000		250,000	250,000
Cash held outside the Trust Account		296,461		296,461	611,620
Working Capital				$ 119,000
Substantial doubt about going concern				true
Term to complete Business Combination after closing of Initial Public Offering (in months)				18 months
Class A ordinary shares subject to possible redemption		231,190,808	$ 231,151,505	$ 231,151,505
Increase in redemption value of Class A ordinary shares subject to redemption		354,018	39,303
Class A ordinary shares subject to possible redemption		231,544,826	$ 231,190,808	231,544,826
Cash		$ 0		$ 0	$ 0
Initial Public Offering
Number of units issued	23,000,000			3,000,000
Warrants.
Sale of Private Placement Warrants (in shares)		18,650,000		18,650,000
Class A Common Stock | Initial Public Offering
Number of units issued				23,000,000

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN - Reconciliation of Net Income (loss) per Common Share (Details) - USD ($)	3 Months Ended				4 Months Ended		6 Months Ended
	Jun. 30, 2022		Jun. 30, 2021		Jun. 30, 2021		Jun. 30, 2022		Jun. 30, 2021
Class A Common Stock
Allocation of net income	$ 1,409,939						$ 4,343,995
Weighted average shares outstanding, basic	23,000,000						23,000,000
Weighted average shares outstanding, diluted	23,000,000						23,000,000
Basic net income (loss) per common share	$ 0.06						$ 0.19
Diluted net income (loss) per common share	$ 0.06						$ 0.19
Class B Common Stock
Allocation of net income	$ 352,485		$ (5,677)				$ 1,085,999		$ (11,177)
Weighted average shares outstanding, basic	5,750,000	[1]	5,000,000	[1]	5,000,000	[1]	5,750,000	[1]	5,000,000
Weighted average shares outstanding, diluted	5,750,000	[1]	5,000,000	[1]	5,000,000	[1]	5,750,000	[1]	5,000,000
Basic net income (loss) per common share	$ 0.06		$ 0		$ 0		$ 0.19		$ 0
Diluted net income (loss) per common share	$ 0.06		$ 0		$ 0		$ 0.19		$ 0
[1] For the period from March 1, 2021 (inception) through June 30, 2021, the amount excludes up to 750,000 Class B ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters. The underwriters exercised the over-allotment in full simultaneously with the closing of the Initial Public Offering on October 12, 2021, thus the 750,000 Class B ordinary shares were no longer subject to forfeiture. (see Note 5).

INITIAL PUBLIC OFFERING (Detail

INITIAL PUBLIC OFFERING (Details) - $ / shares		6 Months Ended
	Oct. 12, 2021	Jun. 30, 2022
Subsidiary, Sale of Stock [Line Items]
Purchase price, per unit		$ 10.05
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Number of units issued	23,000,000	3,000,000
Purchase price, per unit	$ 10
Initial Public Offering | Public Warrants
Subsidiary, Sale of Stock [Line Items]
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
Subsidiary, Sale of Stock [Line Items]
Number of units issued	3,000,000
Purchase price, per unit	$ 10

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)		6 Months Ended	12 Months Ended
	Oct. 12, 2021	Jun. 30, 2022	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Subscription Receivable			$ 19,982
Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Price of warrants		$ 1
Proceeds from sale of private placement warrants		$ 7,150,000
Private Placement | Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Number of warrants to purchase shares issued	7,150,000	7,150,000
Price of warrants	$ 1	$ 11.50
Proceeds from sale of private placement warrants	$ 7,150,000
Number of shares per warrant		1

RELATED PARTY TRANSACTIONS - Fo

RELATED PARTY TRANSACTIONS - Founder Shares (Details)		1 Months Ended	6 Months Ended
	Mar. 11, 2021 USD ($) shares	Mar. 31, 2021 USD ($)	Jun. 30, 2022 D $ / shares
Related Party Transaction [Line Items]
Aggregate purchase price | $		$ 25,000
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
Sponsor | Class B Common Stock
Related Party Transaction [Line Items]
Percentage of issued and outstanding shares after the Initial Public Offering collectively held by initial stockholders			20%
Founder Shares | Sponsor | Class B Common Stock
Related Party Transaction [Line Items]
Number of shares issued | shares	5,750,000
Aggregate purchase price | $	$ 25,000
Shares subject to forfeiture | shares	750,000
Percentage of issued and outstanding shares after the Initial Public Offering collectively held by initial stockholders	20%

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details)			3 Months Ended		4 Months Ended	6 Months Ended
	Oct. 06, 2021 USD ($)	Mar. 11, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Oct. 12, 2022 USD ($)	Mar. 11, 2022 USD ($)	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Due from Related Parties			$ 2,800			$ 2,800			$ 3,500
Working capital loans warrant
Related Party Transaction [Line Items]
Borrowings under working capital loans			0			0			$ 0
Anchor investor
Related Party Transaction [Line Items]
Number of anchor investors		8
Anchor investor | Initial Public Offering
Related Party Transaction [Line Items]
Sale of units in initial public offering ( in shares) | shares		1,980,000
Offering price | $ / shares		$ 10
Six Anchor investor
Related Party Transaction [Line Items]
Number of anchor investors		6
Six Anchor investor | Initial Public Offering
Related Party Transaction [Line Items]
Sale of units in initial public offering ( in shares) | shares		980,000
Offering price | $ / shares		$ 10
Anchor investor One
Related Party Transaction [Line Items]
Number of anchor investors		1
Anchor investor One | Initial Public Offering
Related Party Transaction [Line Items]
Sale of units in initial public offering ( in shares) | shares		780,000
Offering price | $ / shares		$ 10
Anchor investor Two
Related Party Transaction [Line Items]
Number of anchor investors		1
Anchor investor Two | Initial Public Offering
Related Party Transaction [Line Items]
Sale of units in initial public offering ( in shares) | shares		500,000
Offering price | $ / shares		$ 10
Promissory Note with Related Party
Related Party Transaction [Line Items]
Maximum borrowing capacity of related party promissory note								$ 300,000
Maximum Borrowing Capacity of Related Party Promissory Note Outstanding Balance							$ 250,000
Outstanding balance of related party note			0			0
Administrative Support Agreement
Related Party Transaction [Line Items]
Expenses per month	$ 10,000
Administrative Support Agreement | Sponsor
Related Party Transaction [Line Items]
Expenses incurred			30,000	$ 0	$ 0	60,000
Related Party Loans
Related Party Transaction [Line Items]
Loan conversion agreement warrant			$ 1,500,000			$ 1,500,000
Related Party Loans | Initial Public Offering
Related Party Transaction [Line Items]
Offering price | $ / shares			$ 11.50			$ 11.50
Related Party Loans | Working capital loans warrant
Related Party Transaction [Line Items]
Price of warrant | $ / shares			$ 1			$ 1
Related Party Loans | Sponsor
Related Party Transaction [Line Items]
Working capital loans			$ 1,400,000			$ 1,400,000
Related Party Loans | Sponsor | Working capital loans warrant
Related Party Transaction [Line Items]
Working capital loans			$ 1,400,000			$ 1,400,000
Founder Shares | Initial Public Offering
Related Party Transaction [Line Items]
Amount of warrants purchased		$ 13,860,681
Fair value of the founder shares attributable to the anchor investors | $ / shares		$ 7.93
Founder Shares | Sponsor
Related Party Transaction [Line Items]
Sale of units in initial public offering ( in shares) | shares		1,747,879
Offering price | $ / shares		$ 0.004
Aggregate purchase price		$ 6,992

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)		6 Months Ended
	Oct. 12, 2021	Jun. 30, 2022
Subsidiary, Sale of Stock [Line Items]
Deferred underwriting fee payable		$ 12,100,000
Over Allotment
Subsidiary, Sale of Stock [Line Items]
Deferred underwriting fee payable		$ 12,100,000
Number of units issued	3,000,000
Share price	$ 10	$ 0.70
Number of units value issued	$ 30,000,000
Excluding Over Allotment
Subsidiary, Sale of Stock [Line Items]
Share price		$ 0.50
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Deferred underwriting fee payable		$ 4,000,000
Number of units issued	23,000,000	3,000,000
Share price		$ 0.20

WARRANTS - Additional Informati

WARRANTS - Additional Information (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022 item D $ / shares shares	Dec. 31, 2021 shares
Class of Warrant or Right [Line Items]
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 for filling registration statement after business combination	15 days	15 days
Restrictions on transfer period of time after business combination completion	1 year
Warrants.
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	18,650,000
Warrants and rights outstanding exercisable term after business combination	30 days
Warrants and rights outstanding exercisable term after closing of initial public offering	12 months
Public warrants expiration term	5 years
Adjustment one of redemption price of stock based on market value and newly issued price (as a percent)	180%
Private Placement Warrants
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	7,150,000	7,150,000
Public Warrants
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	11,500,000	11,500,000
Share Price Trigger Used To Measure Dilution Of Warrant | $ / shares	$ 9.20
Percentage of gross new proceeds to total equity proceeds used to measure dilution of warrant	60
Warrant exercise price adjustment multiple	115
Restrictions on transfer period of time after business combination completion	30 days
Public Warrants | Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00
Class of Warrant or Right [Line Items]
Threshold consecutive trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination	20
Threshold period for filling registration statement after business combination	30 days
Warrant redemption condition minimum share price | $ / shares	$ 18
Redemption price per public warrant (in dollars per share) | $ / shares	$ 0.01
Threshold number of business days before sending notice of redemption to warrant holders | item	3
Redemption period	30 days

CLASS A ORDINARY SHARES SUBJE_2

CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS DEFICIT - Preferred Stock Shares (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred stock, par value, (per share)	$ 0.0001	$ 0.0001
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0

CLASS A ORDINARY SHARES SUBJE_3

CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS DEFICIT - Common Stock Shares (Details)	6 Months Ended
	Jun. 30, 2022 Vote $ / shares shares	Dec. 31, 2021 $ / shares shares
Class A Common Stock
Class of Stock [Line Items]
Common shares, shares authorized (in shares)	200,000,000	200,000,000
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)	23,000,000	23,000,000
Common shares, shares outstanding (in shares)	0	0
Class A Common Stock Subject to Redemption
Class of Stock [Line Items]
Class A common stock subject to possible redemption, issued (in shares)	23,000,000	23,000,000
Class A ordinary shares subject to possible redemption, shares outstanding	23,000,000	23,000,000
Class A Common Stock Not Subject to Redemption
Class of Stock [Line Items]
Common shares, shares issued (in shares)	0	0
Common shares, shares outstanding (in shares)	0	0
Class B Common Stock
Class of Stock [Line Items]
Common shares, shares authorized (in shares)	20,000,000	20,000,000
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)	5,750,000	5,750,000
Common shares, shares outstanding (in shares)	5,750,000	5,750,000
Class B Common Stock | Sponsor
Class of Stock [Line Items]
Percentage of issued and outstanding shares after the Initial Public Offering collectively held by initial stockholders	20%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of company's assets that are measured at fair value on a recurring basis (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Investments held in Trust Account:
Investments held in Trust Account	$ 231,544,826	$ 231,151,505
Liabilities
Cash and cash equivalents, fair value	614	1,432
Recurring
Investments held in Trust Account:
Investments held in Trust Account	231,544,826	231,151,505
Liabilities
Derivative warrant liabilities	2,079,500	7,889,000
Recurring | Private Placement Warrants
Liabilities
Derivative warrant liabilities	929,500	3,289,000
Recurring | Public Warrants
Liabilities
Derivative warrant liabilities	1,150,000	4,600,000
Level 1 | Recurring
Investments held in Trust Account:
Investments held in Trust Account	231,544,826	231,151,505
Liabilities
Derivative warrant liabilities	1,150,000	4,600,000
Level 1 | Recurring | Public Warrants
Liabilities
Derivative warrant liabilities	1,150,000	4,600,000
Level 3 | Recurring
Liabilities
Derivative warrant liabilities	929,500	3,289,000
Level 3 | Recurring | Private Placement Warrants
Liabilities
Derivative warrant liabilities	$ 929,500	$ 3,289,000

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of significant inputs to the Monte-Carlo method for the Fair value of Warrants (Details) - Level 3 - Private Placement Warrants	Jun. 30, 2022	Dec. 31, 2021
Stock price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	9.81	9.70
Exercise price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	11.50	11.50
Expected term (in years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	5.52	5.52
Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	2.1	9.2
Risk-free rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	2.97	1.30
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Measurement Input	0.13	0.46

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of quantitative information regarding Level 3 FAIR VALUE MEASUREMENTS measurements inputs (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
FAIR VALUE MEASUREMENTS
Warrant liabilities at beginning of period	$ 1,644,500	$ 3,289,000	$ 3,289,000
Change in fair value of warrant liabilities	(715,000)	(1,644,500)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Fair Value Adjustment of Warrants
Warrant liabilities at end of period	$ 929,500	$ 1,644,500	$ 929,500

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrant liabilities	$ (1,750,000)	$ (5,809,500)
Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrant liabilities	$ 5,800,000
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of warrant liabilities		$ 1,800,000