−Removed: Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities
−Removed: Unregistered Sales
−Removed: On October 7, 2020, our Sponsor paid an aggregate of $25,000 to cover certain expenses on our behalf in exchange for issuance of 5,750,000 ordinary shares (the “Founder Shares”).
−Removed: On February 10, 2021, we effected a share capitalization resulting in an aggregate of 24,437,500 Class B ordinary shares issued and outstanding.
−Removed: In October 2020, our Sponsor transferred 30,000 Founder Shares to each of our independent director nominees.
−Removed: Our Sponsor agreed to forfeit up to an aggregate of 3,187,500 Founder Shares to the extent that the option to purchase Over-Allotment Units was not exercised in full by the underwriters, so that the Founder Shares would represent 20% of our issued and outstanding shares after the Initial Public Offering.
−Removed: The underwriters fully exercised their over-allotment option on March 16, 2021;
−Removed: thus, those Founder Shares were no longer subject to forfeiture.
−Removed: At September 30, 2021, 24,437,500 Class B ordinary shares were issued and outstanding.
−Removed: Our Sponsor purchased 8,900,000 Private Placement Warrants, each exercisable to purchase one ordinary share at $11.50 per share, at a price of $2.50 per warrant (approximately $22.3 million in the aggregate), in a private placement that closed substantially concurrently with the closing of the Initial Public Offering.
−Removed: This issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: No underwriting discounts or commissions were paid with respect to such sales.
−Removed: Use of Proceeds
−Removed: On March 18, 2021, we consummated the Initial Public Offering of 97,750,000 Units, including 12,750,000 Over-Allotment Units, at $10.00 per Unit, generating gross proceeds of $977.5 million.
−Removed: Morgan Stanley acted as the book-running manager for the Initial Public Offering.
−Removed: The securities sold in the Initial Public Offering were registered under the Securities Act on a registration statement on Form S-1
−Removed: The SEC declared the registration statements effective on March 15, 2021.
−Removed: Substantially concurrently with the closing of the Initial Public Offering, we consummated the Private Placement of 8,900,000 Private Placement Warrants, at a price of $2.50 per Private Placement Warrant to our Sponsor, generating gross proceeds of approximately $22.3 million.
−Removed: In connection with the Initial Public Offering, we incurred offering costs of approximately $54.5 million, of which approximately $34.2 million and approximately $18,000 were for deferred underwriting commissions and deferred legal fees, respectively.
−Removed: After deducting the underwriting discounts and commissions (excluding the deferred portion, which amount will be payable upon consummation of the initial Business Combination, if consummated) and the Initial Public Offering expenses, $977.5 million of the net proceeds from the Initial Public Offering and certain of the proceeds from the private placement of the Private Placement Warrants (or $10.00 per Unit sold in the Initial Public Offering) were placed in the Trust Account.
−Removed: The net proceeds of the Initial Public Offering and certain proceeds from the sale of the Private Placement Warrants were held in the Trust Account and invested as described elsewhere in this Quarterly Report on Form 10-Q
−Removed: until the consummation of the Aurora Business Combination.
−Removed: We used substantially all of the funds held in the Trust Account to complete the Aurora Business Combination.
−Removed: Funds held in the Trust Account were also used to fund the redemption of common stock.
+Added: Unregistered Sales of Equity Securities and Use of Proceeds
+Added: On January 24, 2022, we issued 10,857 shares of Class A common stock to an Company employee, pursuant to that employee’s exercise of an option granted pursuant to an equity incentive plan.
+Added: The exercise price per share was $0.34.
+Added: We claimed exemption from registration under the Securities Act of 1933, for the sale and issuance of securities in this transaction by virtue of Rule 701 promulgated under the Securities Act, in that the securities were offered and sold pursuant to a written compensatory plan, as provided by Rule 701.
Defaults Upon Senior Securities
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