TH International 10-Q12 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 12, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	001-39890
Entity Registrant Name	SILVER CREST ACQUISITION CORPORATION
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1559547
Entity Address, Address Line One	Suite 3501, 35/F, Jardine House
Entity Address, Address Line Two	1 Connaught Place
Entity Address, City or Town	Central
Entity Address, Country	HK
City Area Code	+852
Local Phone Number	2165-9000
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	0001826553
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Transition Report	false
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, 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	SLCRU
Security Exchange Name	NASDAQ
Class A Ordinary Shares
Document Information [Line Items]
Title of 12(b) Security	Class A Ordinary Shares included as part of the units
Trading Symbol	SLCR
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		34,500,000
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50
Trading Symbol	SLCRW
Security Exchange Name	NASDAQ
Class B Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,625,000

BALANCE SHEET

BALANCE SHEET - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash	$ 576,587
Prepaid expenses	188,265
Total Current Assets	764,852
Deferred offering costs		$ 249,671
Investments held in Trust Account	345,108,792
TOTAL ASSETS	345,873,644	249,671
Current liabilities
Accrued offering costs	1,150	100,000
Accounts payable and accrued expenses	3,826,242
Promissory note - related party		129,671
Total Current Liabilities	3,827,392	229,671
Deferred underwriting fee payable.	12,075,000
Warranty Liabilities	17,259,000
Total Liabilities	33,161,392	229,671
Commitments
Class A ordinary shares subject to possible redemption 34,500,000 and no shares at $10.00 per share redemption value as of September 30, 2021 and December 31, 2020, respectively	345,000,000
Shareholders' (Deficit) Equity
Preference shares, $0.0001 par value; 2,000,000 shares authorized; none issued or outstanding at September 30, 2021 or December 31, 2020
Additional paid-in capital		24,137
Accumulated deficit	(32,288,611)	(5,000)
Total Shareholders' (Deficit) Equity	(32,287,748)	20,000
TOTAL LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY	345,873,644	249,671
Class A Ordinary Shares
Current liabilities
Class A ordinary shares subject to possible redemption 34,500,000 and no shares at $10.00 per share redemption value as of September 30, 2021 and December 31, 2020, respectively	345,000,000
Shareholders' (Deficit) Equity
Common stock
Class B Ordinary Shares
Shareholders' (Deficit) Equity
Common stock	$ 863	$ 863

BALANCE SHEET (Parenthetical)

BALANCE SHEET (Parenthetical) - $ / shares	Sep. 30, 2021	Aug. 13, 2021	Jun. 30, 2021	Jan. 19, 2021	Dec. 31, 2020
Preferred stock, par value, (per share)	$ 0.0001		$ 0.0001		$ 0.0001
Preferred stock, shares authorized	2,000,000		2,000,000		2,000,000
Preferred stock, shares issued	0				0
Preferred stock, shares outstanding	0		0		0
Over-allotment option
Purchase price, per unit				$ 10
Class A Ordinary Shares
Common shares, par value, (per share)	$ 0.0001	$ 0.0001			$ 0.0001
Common shares, shares authorized	200,000,000				200,000,000
Class A Ordinary Shares Subject to Redemption
Temporary equity, shares outstanding	34,500,000				0
Temporary equity, redemption price per share	$ 10				$ 10
Class A Common Stock Not Subject to Redemption
Common shares, shares issued	34,500,000				0
Common shares, shares outstanding	34,500,000				0
Class B Ordinary Shares
Common shares, par value, (per share)	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common shares, shares authorized	20,000,000		20,000,000		20,000,000
Common shares, shares issued	8,625,000		8,625,000		8,625,000
Common shares, shares outstanding	8,625,000		8,625,000		8,625,000

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
STATEMENT OF OPERATIONS - USD ($)	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021
Operating and formation costs	$ 5,000	$ 2,347,854	$ 5,367,078
Loss from operations	(5,000)	(2,347,854)	(5,367,078)
Other income:
Interest earned on marketable securities held in Trust Account		33,428	108,792
Interest Earned - Bank		17	52
Change in fair value of warrant liability		4,968,500	4,445,500
Total other income		5,001,945	4,554,344
Net income (loss)	$ (5,000)	$ 2,654,091	$ (812,734)
Class A Ordinary Shares
Other income:
Weighted average shares outstanding, basic and diluted		34,500,000	31,981,752
Basic and diluted net income (loss) per ordinary share		$ 0.06	$ (0.02)
Class A Ordinary Shares Subject to Redemption
Other income:
Weighted average shares outstanding, basic and diluted		34,500,000	31,981,752
Basic and diluted net income (loss) per ordinary share		$ 0.06	$ (0.02)
Class B Ordinary Shares
Other income:
Weighted average shares outstanding, basic and diluted	6,250,000	8,625,000	8,542,883
Basic and diluted net income (loss) per ordinary share		$ 0.06	$ (0.02)

STATEMENT OF CHANGES IN SHAREHO

STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY - USD ($)	Class A Ordinary SharesCommon Stock	Class A Ordinary Shares	Class B Ordinary SharesCommon Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at the beginning at Sep. 03, 2020			$ 0	$ 0	$ 0	$ 0
Balance at the beginning (in shares) at Sep. 03, 2020			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class B ordinary shares to Sponsor			$ 863	24,137		25,000
Issuance of Class B ordinary shares to Sponsor (shares)			8,625,000
Net income (loss)					(5,000)	(5,000)
Balance at the end at Sep. 30, 2020			$ 863	24,137	(5,000)	20,000
Balance at the end (in shares) at Sep. 30, 2020			8,625,000
Balance at the beginning at Dec. 31, 2020			$ 863	24,137	(5,000)	20,000
Balance at the beginning (in shares) at Dec. 31, 2020			8,625,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion for Class A ordinary shares subject to redemption amount				(1,537,137)	(31,470,877)	(33,008,014)
Sale of 8,900,000 Private Placement Warrants				1,513,000	0	1,513,000
Net income (loss)				0	7,398,214	7,398,214
Balance at the end at Mar. 31, 2021			$ 863	0	(24,077,663)	(24,076,800)
Balance at the end (in shares) at Mar. 31, 2021			8,625,000
Balance at the beginning at Dec. 31, 2020			$ 863	24,137	(5,000)	20,000
Balance at the beginning (in shares) at Dec. 31, 2020			8,625,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion for Class A ordinary shares subject to redemption amount		$ 33,008,014
Net income (loss)						(812,734)
Balance at the end at Sep. 30, 2021			$ 863	0	(32,288,611)	(32,287,748)
Balance at the end (in shares) at Sep. 30, 2021	0		8,625,000
Balance at the beginning at Mar. 31, 2021			$ 863	0	(24,077,663)	(24,076,800)
Balance at the beginning (in shares) at Mar. 31, 2021			8,625,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)				0	(10,865,039)	(10,865,039)
Balance at the end at Jun. 30, 2021			$ 863	0	(34,942,702)	(34,941,839)
Balance at the end (in shares) at Jun. 30, 2021			8,625,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)				0	2,654,091	2,654,091
Balance at the end at Sep. 30, 2021			$ 863	$ 0	$ (32,288,611)	$ (32,287,748)
Balance at the end (in shares) at Sep. 30, 2021	0		8,625,000

STATEMENT OF CHANGES IN SHARE_2

STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY (Parenthetical) - shares	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Class B Ordinary Shares
Common Stock, Shares, Outstanding	8,625,000	8,625,000	8,625,000

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	1 Months Ended	9 Months Ended
STATEMENT OF CASH FLOWS - USD ($)	Sep. 30, 2020	Sep. 30, 2021
Cash Flows from Operating Activities:
Net loss	$ (5,000)	$ (812,734)
Adjustments to reconcile net loss to net cash used in operating activities:
Transaction costs incurred in connection with IPO		820,326
Formation cost paid by Sponsor in exchange for issuance of founder shares	5,000
Interest earned on marketable securities held in Trust Account		(108,792)
Change in fair value of warrant liabilities		(4,445,500)
Changes in operating assets and liabilities:
Prepaid expenses		(161,465)
Accounts payable and accrued expenses		3,826,242
Net cash used in operating activities		(881,923)
Cash Flows from Investing Activities:
Investment of cash in Trust Account		(345,000,000)
Net cash used in investing activities		(345,000,000)
Cash Flows from Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid		338,100,000
Proceeds from sale of Private Placement Warrants		8,900,000
Repayment of promissory note - related party		(182,670)
Payment of offering costs		(358,820)
Net cash provided by financing activities		346,458,510
Net Change in Cash	0	576,587
Cash - Beginning of period	0	0
Cash - End of period	0	576,587
Non-cash investing and financing activities:
Offering costs included in accrued offering costs	103,152	1,150
Offering costs paid by Sponsor in exchange for issuance of founder shares	20,000
Offering costs paid through promissory note	$ 3,000	26,198
Payment of prepaid expenses through promissory note		26,800
Initial classification of Class A ordinary shares subject to possible redemption		345,000,000
Deferred underwriting fee payable.		$ 12,075,000

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	9 Months Ended
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	Sep. 30, 2021
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Silver Crest Acquisition Corporation (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on September 3, 2020. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities (a “Business Combination”). The Company is not limited to a particular industry or sector 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 September 30, 2021, the Company had not commenced any operations. All activity for the period from September 3, 2020 (inception) through September 30, 2021 relates to the Company’s formation, the proposed initial public offering (“Initial Public Offering”), which is described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The registration statement for the Company’s Initial Public Offering was declared effective on January 13, 2021. On January 19, 2021, the Company consummated the Initial Public Offering of 34,500,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”) which includes the full exercise by the underwriter of its over-allotment option in the amount of 4,500,000 Units, at $10.00 per Unit, generating gross proceeds of $345,000,000 which is described in Note 4. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 8,900,000 warrants (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to Silver Crest Management LLC (the “Sponsor”), generating gross proceeds of $8,900,000, which is described in Note 5. Following the closing of the Initial Public Offering on January 19, 2021, an amount of $345,000,000 ($10.00 per Unit) 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 in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earliest of: (i) the completion of a Business Combination and (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. The stock exchange listing rules require that the Business Combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting commissions and taxes payable on the interest earned on the Trust Account). The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination. The Company will provide the holders of the public shares (the “Public Shareholders”) with the opportunity to redeem all or a portion of their public shares upon the completion of the Business Combination, either (i) in connection with a general 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. The Public Shareholders will be entitled to redeem their Public Shares, equal to the aggregate amount then on deposit in the Trust Account, calculated as of two business days prior to the consummation of the Business Combination (initially anticipated to be $10.00 per Public Share), including interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding public shares, subject to certain limitations as described in the Company’s Annual Report on Form 10-K for the period ended December 31, 2020. The per-share amount to be distributed to the Public Shareholders who properly redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter (as discussed in Note 7). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 and, if the Company seeks shareholder approval, it receives an ordinary resolution under Cayman Islands law approving a Business Combination, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the Company. If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, 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 Sponsor has agreed to vote its Founder Shares (as defined in Note 6) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each Public Shareholder may elect to redeem their Public Shares, without voting, and if they do vote, irrespective of whether they vote for or against a proposed Business Combination. Notwithstanding the foregoing, if the Company seeks shareholder approval of the Business Combination and the Company does not conduct redemptions pursuant to the tender offer rules, 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 Sponsor has agreed (a) to waive its redemption rights with respect to any Founder Shares and Public Shares held by it in connection with the completion of a Business Combination and (b) not to propose an amendment to the Amended and Restated Memorandum and Articles of Association (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity, unless the Company provides the Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the Trust account and not previously released to pay taxes, divided by the number of then issued and outstanding Public Shares. The Company will have until January 19, 2023 to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed 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 Sponsor has agreed to waive its rights to liquidating distributions from the Trust Account with respect to the Founder Shares it will receive if the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor or any of its respective affiliates acquire Public Shares, 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. The underwriter has agreed to waive its rights to the deferred underwriting commission (see Note 7) 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 that it will be liable to the Company if and to the extent any claims by a third party (other than the Company’s independent registered public accounting firm) 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 the lesser of (1) $10.00 per Public Share and (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 $10.00 per Public Share, due to reductions in the value of trust assets, in each case net of the interest that may be withdrawn to pay taxes. This liability will not apply to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and as to any claims under the Company’s indemnity of the underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). 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. Liquidity and Capital Resources As of September 30, 2021, the Company had $576,587 in its operating bank account and a working capital deficit of $3,062,540. In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined below) (see Note 6). As of September 30, 2021 and December 31, 2020, there were no amounts outstanding under any Working Capital Loans. The Company may raise additional capital through loans or additional investments from the Sponsor or its shareholders, officers, directors, or third parties. The Company’s officers and directors and the Sponsor may but are not obligated to (except as described above), loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. Based on the foregoing, the Company believes it will have sufficient working capital and borrowing capacity from the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors to meet its needs through the earlier of the consummation of a Business Combination or at least one year from the date that the financial statements were issued.

REVISION OF PREVIOUSLY ISSUED F

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	9 Months Ended
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	Sep. 30, 2021
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	NOTE 2. REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS During the preparation of the Company's financial statements as of September 30, 2021, the Company concluded it should revise its financial statements to classify all Public Shares in temporary equity. In accordance with the SEC and its staff's guidance on redeemable equity instruments, ASC 480, paragraph 10-S99, redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside of permanent equity. The Company previously determined the Class A ordinary shares subject to possible redemption to be equal to the redemption value of $10.00 per Class A ordinary shares while also taking into consideration a redemption cannot result in net tangible assets being less than $5,000,001 . Previously, the Company did not consider redeemable shares classified as temporary equity as part of net tangible assets. Effective with these financial statements, the Company revised this interpretation to include temporary equity in net tangible assets. Accordingly, effective with this filing, the Company presents all redeemable Class A ordinary shares as temporary equity and recognizes accretion from the initial book value to redemption value at the time of its Initial Public Offering and in accordance with ASC 480. As a result, management has noted a reclassification adjustment related to temporary equity and permanent equity. This resulted in an adjustment to the initial carrying value of the Class A ordinary shares subject to possible redemption with the offset recorded to additional paid-in capital (to the extent available), accumulated deficit and Class A ordinary shares. The Company will present this revision in a prospective manner in all future filings. Under this approach, the previously issued Initial Public Offering Balance Sheet and Form 10-Q's will not be amended, but historical amounts presented in the current and future filings will be recast to be consistent with the current presentation, and an explanatory footnote will be provided. In connection with the change in presentation for the Class A ordinary shares subject to redemption, the Company also revised its income (loss) per common share calculation to allocate net income (loss) evenly to Class A and Class B ordinary shares. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of common stock share pro rata in the income (loss) of the Company. There has been no change in the Company's total assets, liabilities, cash flows or operating results. The impact of the revision on the Company's financial statements is reflected in the following table. As Previously Balance Sheet as of January 19, 2021 (audited) Reported Adjustment As Restated Class A ordinary share subject to possible redemption $ 307,704,650 $ 37,295,350 $ 345,000,000 Class A ordinary share $ 373 $ (373) $ — Additional paid-in capital $ 5,824,099 $ (5,824,099) $ — Accumulated deficit $ (825,325) $ (31,470,878) $ (32,296,203) Total Shareholders’ Equity (Deficit) $ 5,000,010 $ (37,295,350) $ (32,295,340)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2020, as well as the Company’s Current Report on Form 10-Q, as filed with the SEC on May 20, 2021 (see Note 4 below). The interim results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future periods. 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 a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement 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 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 condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2021 and December 31, 2020. Cash and Investments Held in Trust Account The Company classifies its U.S. Treasury and equivalent securities as held-to-maturity in accordance with Accounting Standard Codification (“ASC”) Topic 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts. Offering Costs Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are 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 allocated to warrant liabilities were expensed as incurred in the statements of operations. Offering costs associated with the Class A common stock issued were initially charged to temporary equity and then accreted to common stock subject to redemption upon the completion of the Initial Public Offering. Offering costs amounting to $19,510,840 were accreted to equity upon the completion of the Initial Public Offering, and $820,326 of the offering costs were related to the warrant liabilities and charged to the statement of operations. Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at September 30, 2021 and December 30, 2020, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. 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. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. At September 30, 2021, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following table: Gross proceeds $ 345,000,000 Less: Proceeds allocated to Public Warrants $ (14,317,500) Class A ordinary shares issuance costs $ (18,690,514) Plus: Accretion of carrying value to redemption value $ 33,008,014 Class A ordinary shares subject to possible redemption $ 345,000,000 Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants (together with the Public Warrants, the “Warrants”) in accordance with the guidance contained in ASC 815-40 under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. The Warrants for periods where no observable traded price was available are valued using a binomial lattice model incorporating the Cox-Ross-Rubenstein methodology. Income Taxes The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2021 and December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented. Net income 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 for the period. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. The calculation of diluted income (loss) per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the warrants is contingent upon the occurrence of future events. The warrants are exercisable to purchase, 26,150,000 Class A ordinary shares in the aggregate. As of September 30, 2021 and 2020, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted net loss per ordinary share is the same as basic net loss per ordinary share for the periods presented. The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): For the Period from September Three Months Ended Nine Months Ended 3, 2020 (Inception) Through September 30, 2021 September 30, 2021 September 30, 2020 Class A Class B Class A Class B Class A Class B Basic and diluted net income (loss) per ordinary share Numerator: Allocation of net income (loss), as adjusted $ 2,123,273 $ 530,818 $ (641,404) $ (171,330) $ — $ (5,000) Denominator: Basic and diluted weighted average shares outstanding 34,500,000 8,625,000 31,981,752 8,542,883 — 6,250,000 Basic and diluted net income (loss) per ordinary share $ 0.06 $ 0.06 $ (0.02) $ (0.02) $ — $ — 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. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, excluding the warrant liability which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their short-term nature other than the warrant liabilities (see Note 9). Recent Accounting Standards In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company's condensed financial statements.

PUBLIC OFFERING

PUBLIC OFFERING	9 Months Ended
PUBLIC OFFERING	Sep. 30, 2021
PUBLIC OFFERING
PUBLIC OFFERING	NOTE 4. PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 34,500,000 Units, inclusive of 4,500,000 Units sold to the underwriters upon the underwriters’ election to fully exercise their over-allotment option, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one

PRIVATE PLACEMENT

PRIVATE PLACEMENT	9 Months Ended
PRIVATE PLACEMENT	Sep. 30, 2021
PRIVATE PLACEMENT
PRIVATE PLACEMENT	NOTE 5. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 8,900,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, for an aggregate purchase price of $8,900,000 ($1,513,000 represents cash paid in excess of fair value), in a private placement. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 9). A portion of the proceeds from the Private Placement Warrants were added to the 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	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6. RELATED PARTY TRANSACTIONS Founder Shares In September 2020, the Sponsor paid $25,000 to cover certain offering and formation costs of the Company in consideration for 7,187,500 Class B ordinary shares (the “Founder Shares”). On January 13, 2021, the Company effected a share dividend, resulting in 8,625,000 Class B ordinary shares outstanding. The Sponsor has agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earliest of: (A) one year after the completion of a Business Combination and (B) subsequent to a Business Combination, (x) if the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a 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 Class A ordinary shares for cash, securities or other property. Administrative Services Agreement The Company entered into an agreement, commencing January 13, 2021 through the earlier of the consummation of a Business Combination or the Company’s liquidation, to pay the Sponsor a monthly fee of $10,000 for office space, utilities, secretarial and administrative services. For the three and nine months ended September 30, 2021, the Company incurred $30,000 and $90,000 respectively in fees for these services, of which such amount is included in accrued expenses in the accompanying condensed balance sheet of September 30, 2021. For the period from September 3, 2020 (inception) through September 30, 2020, the Company did not incur any fees for these services. Promissory Note — Related Party On January 5, 2021, the Sponsor issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate principal amount of $300,000 . The Promissory Note was non-interest bearing and payable on the earlier of (i) September 30, 2021 or (ii) the consummation of the Initial Public Offering. As December 31, 2020 there was $129,671 outstanding which was repaid with the proceeds from the Initial Public Offering. The note was then terminated. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $1.00 per warrant. The warrants would be identical to the Private Placement Warrants. As of September 30, 2021 and December 31, 2020, the Company had no outstanding borrowings under the Working Capital Loans.

COMMITMENTS

COMMITMENTS	9 Months Ended
COMMITMENTS	Sep. 30, 2021
COMMITMENTS
COMMITMENTS	NOTE 7. COMMITMENTS 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 these condensed financial statements. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. Registration and Shareholders Rights Pursuant to a registration and shareholders rights agreement entered into on January 13, 2021, the holders of the Founder Shares, Private Placement Warrants and any 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 that may be issued upon conversion of the Working Capital Loans) will have registration rights to require the Company to register a sale of any of the securities held by them pursuant to a registration and shareholder rights agreement. 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 the completion of a Business Combination. However, the registration and shareholder rights agreement provide that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lockup period. The registration rights agreement does not contain liquidating damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriter is entitled to a deferred fee of $0.35 per Unit, or $12,075,000 in the aggregate. The deferred fee will become payable to the underwriter 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. Merger Agreement On August 13, 2021, Silver Crest entered into an Agreement and Plan of Merger (the “ Merger Agreement THIL Merger Sub Pursuant to the Merger Agreement and subject to the terms and conditions set forth therein, (i) Merger Sub will merge with and into Silver Crest (the “ First Merger Second Merger Mergers Business Combination Pursuant to the Merger Agreement and subject to the approval of the Silver Crest shareholders, among other things, (i) immediately prior to the effective time of the First Merger (the “ First Effective Time Class B Shares Class A Shares THIL Ordinary Share Sponsor Silver Crest Warrants THIL Warrants Silver Crest Unit Unit Separation In conjunction with the Business Combination, it is expected that an independent company will be incorporated in China with the sole purpose of safeguarding the retention and use of data of THIL's guests (“ NewCo CAC Conditions to Closing The consummation of the Business Combination is conditioned upon, among other things: (i) receipt of the required approval by the Silver Crest shareholders; (ii) after giving effect to the exercise of the redemption rights of the Silver Crest shareholders (the “ Silver Crest Shareholder Redemption Securities Act The obligations of THIL and Merger Sub to consummate the Business Combination is also conditioned upon, among other things: (i) the accuracy of the representations and warranties of Silver Crest (subject to certain materiality standards set forth in the Merger Agreement); (ii) material compliance by Silver Crest with its pre-closing covenants; and (iii) the funds contained in Silver Crest's trust account (after giving effect to the Silver Crest Shareholder Redemption), together with the aggregate amount of proceeds from any PIPE Financing (as defined below), and the aggregate amount of proceeds from the Permitted Equity Financing (as defined below) (but only if the amount received by THIL in any PIPE Financing is equal to or exceeds $100,000,000), equaling or exceeding (x) $250,000,000, in the event that the aggregate amount of proceeds from the PIPE Financing equals or exceeds $100,000,000, or (y) $175,000,000, in the event that the aggregate amount of proceeds from the PIPE Financing is less than $100,000,000. Sponsor Lock-Up Agreement Concurrently with the execution and delivery of the Merger Agreement, THIL and Sponsor entered into a Sponsor Lock-Up Agreement (the “ Sponsor Lock-Up Agreement Sponsor Locked-Up Shares

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Sep. 30, 2021
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 8. SHAREHOLDERS’ EQUITY Preference Shares issued Class A Common Shares issued Class outstanding Class B Common Shares Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote of shareholders, except as required by law. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon the completion of the Initial Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued by the Company in connection with or in relation to the consummation of a Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued or to be issued to any seller in a Business Combination and any Private Placement Warrants issued to the sponsor, its affiliates or any member of management team upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.

WARRANTS LIABILITIES

WARRANTS LIABILITIES	9 Months Ended
WARRANTS LIABILITIES	Sep. 30, 2021
WARRANTS LIABILITIES
WARRANTS LIABILITIES	NOTE 9. WARRANT LIABILITIES As of September 30, 2021, there were 17,250,000 Public Warrants and 8,900,000 Private Placement Warrants outstanding. As of December 31, 2020, no warrants were outstanding. 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) one year from the closing of the Initial Public Offering. The Public Warrants will expire five years from the completion of a Business Combination 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 its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable and the Company will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. The Company has agreed that as soon as practicable, but in no event later than 20 business days, after the closing of a Business Combination, it will use its commercially reasonable 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, and the Company will use its commercially reasonable efforts to cause the same to become effective within 60 business days after the closing of a Business Combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement; provided that if our 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 elect, the Company will not be required to file or maintain in effect a registration statement, but the Company will use its commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of a 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, but the Company will use its commercially reasonably efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00 . ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon a minimum of 30 days ’ prior written notice of redemption to each warrant holder; and ● if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30- trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders. If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00 . ● in whole and not in part; ● at $0.10 per warrant upon a minimum of 30 days ’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the fair market value of the Class A ordinary shares; ● if, and only if, the closing price of the Class A ordinary shares equal or exceeds $10.00 per public share (as adjusted) for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption of the warrant holders; and ● if the closing price of the Class A ordinary shares for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above. If the Company calls the Public Warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described below, the Public Warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of Public Warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public Warrants may expire worthless. 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 a Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor 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 a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of its Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its 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 will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A ordinary shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 30, 2021
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 10. FAIR VALUE MEASUREMENTS The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The Company classifies its U.S. Treasury and equivalent securities as held-to-maturity in accordance with ASC Topic 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts. At September 30, 2021, assets held in the Trust Account were comprised of $345,108,792 in U.S. Treasury securities. During the three and nine months ended September 30, 2021, the Company did not withdraw any interest income from the Trust Account. The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. Gross Amortized Holding Held-To-Maturity Level Cost Loss Fair Value September 30, 2021 U.S. Treasury Securities (Mature on 10/21/21) 1 $ 345,108,792 $ (4,845) $ 345,103,947 Liabilities: September 30, 2021 Warrant Liability - Public Warrants 1 11,385,000 September 30, 2021 Warrant Liability - Private Placement Warrants 2 5,874,000 The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on our accompanying September 30, 2021 condensed balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the condensed statements of operations. The Warrants were initially valued using a binomial lattice model, which is considered to be a Level 3 fair value measurement. The binomial lattice model’s primary unobservable input utilized in determining the fair value of the Private Placement Warrants is the expected volatility of the common stock. The expected volatility as of the Initial Public Offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The subsequent measurements of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 due to the use of an observable market quote in an active market under the ticker SLCRW. For periods subsequent to the detachment of the Public Warrants from the Units, the closing price of the Public Warrant price was used as the fair value of the Warrants as of each relevant date. The subsequent measurements of the Private Placement Warrants after the detachment of the Public Warrants from the Units are classified as Level 2 due to the use of an observable market quote for a similar asset in an active market. The key inputs into the binomial lattice model for the warrants were as follows: January 19, Input 2021 Market price $ 9.58 Risk-free interest rate 0.95% Dividend yield 0.00% Expected volatility 15.1% Exercise price $ 11.50 Term 5.25 Probability of transaction 75% Private Placement Warrants Public Warrants Warrant Liabilities Fair value as of January 1, 2021 $ — $ — $ — Initial measurement on January 19, 2021 7,387,000 14,317,500 21,704,500 Change in valuation inputs or other assumptions (2,848,000) (5,520,000) (8,368,000) Transfer to Level 1 — (8,797,500) (8,797,500) Fair value as of March 31, 2021 4,539,000 — 4,539,000 Change in valuation inputs or other assumptions 3,026,000 — 3,026,000 Transfer to level 2 (7,565,000) — (7,565,000) Fair value as of September 30, 2021 $ — $ — $ — Transfers to/from Levels 1, 2 and 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. The estimated fair value of the public warrants transferred from a Level 3 measurement to a Level 1 fair value measurement during the nine months ended September 30, 2021 was $8,797,500. The estimated fair value of the Private Placement Warrants transferred from a Level 3 measurement to a Level 2 fair value measurement during the nine months ended September 30, 2021 was $7,565,000. No assets or liabilities are measured at fair value as of December 31, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 11. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required recognition or disclosure in the condensed financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the period ended December 31, 2020, as well as the Company’s Current Report on Form 10-Q, as filed with the SEC on May 20, 2021 (see Note 4 below). The interim results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any future periods.
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 a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statement 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 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 condensed financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and, accordingly, the actual results could differ significantly from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of September 30, 2021 and December 31, 2020. Cash and Investments Held in Trust Account The Company classifies its U.S. Treasury and equivalent securities as held-to-maturity in accordance with Accounting Standard Codification (“ASC”) Topic 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts.
Offering Costs	Offering Costs Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are 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 allocated to warrant liabilities were expensed as incurred in the statements of operations. Offering costs associated with the Class A common stock issued were initially charged to temporary equity and then accreted to common stock subject to redemption upon the completion of the Initial Public Offering. Offering costs amounting to $19,510,840 were accreted to equity upon the completion of the Initial Public Offering, and $820,326 of the offering costs were related to the warrant liabilities and charged to the statement of operations.
Class A Ordinary Shares Subject to Possible Redemption	Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at September 30, 2021 and December 30, 2020, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. 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. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. At September 30, 2021, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following table: Gross proceeds $ 345,000,000 Less: Proceeds allocated to Public Warrants $ (14,317,500) Class A ordinary shares issuance costs $ (18,690,514) Plus: Accretion of carrying value to redemption value $ 33,008,014 Class A ordinary shares subject to possible redemption $ 345,000,000
Warrant Liabilities	Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants (together with the Public Warrants, the “Warrants”) in accordance with the guidance contained in ASC 815-40 under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. The Warrants for periods where no observable traded price was available are valued using a binomial lattice model incorporating the Cox-Ross-Rubenstein methodology.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of September 30, 2021 and December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented.
Net Loss per Ordinary Share	Net income 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 for the period. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. The calculation of diluted income (loss) per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, and (ii) the private placement since the exercise of the warrants is contingent upon the occurrence of future events. The warrants are exercisable to purchase, 26,150,000 Class A ordinary shares in the aggregate. As of September 30, 2021 and 2020, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted net loss per ordinary share is the same as basic net loss per ordinary share for the periods presented. The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): For the Period from September Three Months Ended Nine Months Ended 3, 2020 (Inception) Through September 30, 2021 September 30, 2021 September 30, 2020 Class A Class B Class A Class B Class A Class B Basic and diluted net income (loss) per ordinary share Numerator: Allocation of net income (loss), as adjusted $ 2,123,273 $ 530,818 $ (641,404) $ (171,330) $ — $ (5,000) Denominator: Basic and diluted weighted average shares outstanding 34,500,000 8,625,000 31,981,752 8,542,883 — 6,250,000 Basic and diluted net income (loss) per ordinary share $ 0.06 $ 0.06 $ (0.02) $ (0.02) $ — $ —
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. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, excluding the warrant liability which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their short-term nature other than the warrant liabilities (see Note 9).
Recent Accounting Standards	Recent Accounting Standards In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company's condensed financial statements.

REVISION OF PREVIOUSLY ISSUED_2

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	9 Months Ended
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	Sep. 30, 2021
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
Schedule of impact of the revision to prior period balance sheet	As Previously Balance Sheet as of January 19, 2021 (audited) Reported Adjustment As Restated Class A ordinary share subject to possible redemption $ 307,704,650 $ 37,295,350 $ 345,000,000 Class A ordinary share $ 373 $ (373) $ — Additional paid-in capital $ 5,824,099 $ (5,824,099) $ — Accumulated deficit $ (825,325) $ (31,470,878) $ (32,296,203) Total Shareholders’ Equity (Deficit) $ 5,000,010 $ (37,295,350) $ (32,295,340)

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reconciliation of Net Loss per Common Share	For the Period from September Three Months Ended Nine Months Ended 3, 2020 (Inception) Through September 30, 2021 September 30, 2021 September 30, 2020 Class A Class B Class A Class B Class A Class B Basic and diluted net income (loss) per ordinary share Numerator: Allocation of net income (loss), as adjusted $ 2,123,273 $ 530,818 $ (641,404) $ (171,330) $ — $ (5,000) Denominator: Basic and diluted weighted average shares outstanding 34,500,000 8,625,000 31,981,752 8,542,883 — 6,250,000 Basic and diluted net income (loss) per ordinary share $ 0.06 $ 0.06 $ (0.02) $ (0.02) $ — $ —
Schedule of condensed balance sheets are reconciled	Gross proceeds $ 345,000,000 Less: Proceeds allocated to Public Warrants $ (14,317,500) Class A ordinary shares issuance costs $ (18,690,514) Plus: Accretion of carrying value to redemption value $ 33,008,014 Class A ordinary shares subject to possible redemption $ 345,000,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Sep. 30, 2021
FAIR VALUE MEASUREMENTS
Schedule of Company's assets that are measured at fair value on a recurring basis	Gross Amortized Holding Held-To-Maturity Level Cost Loss Fair Value September 30, 2021 U.S. Treasury Securities (Mature on 10/21/21) 1 $ 345,108,792 $ (4,845) $ 345,103,947 Liabilities: September 30, 2021 Warrant Liability - Public Warrants 1 11,385,000 September 30, 2021 Warrant Liability - Private Placement Warrants 2 5,874,000
Schedule of key inputs into the binomial lattice model for the warrants	January 19, Input 2021 Market price $ 9.58 Risk-free interest rate 0.95% Dividend yield 0.00% Expected volatility 15.1% Exercise price $ 11.50 Term 5.25 Probability of transaction 75%
Schedule of change in the fair value of the warrant liabilities	Private Placement Warrants Public Warrants Warrant Liabilities Fair value as of January 1, 2021 $ — $ — $ — Initial measurement on January 19, 2021 7,387,000 14,317,500 21,704,500 Change in valuation inputs or other assumptions (2,848,000) (5,520,000) (8,368,000) Transfer to Level 1 — (8,797,500) (8,797,500) Fair value as of March 31, 2021 4,539,000 — 4,539,000 Change in valuation inputs or other assumptions 3,026,000 — 3,026,000 Transfer to level 2 (7,565,000) — (7,565,000) Fair value as of September 30, 2021 $ — $ — $ —

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details)	Jan. 19, 2021USD ($)$ / sharesshares	Mar. 31, 2021shares	Sep. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2021$ / shares	Dec. 31, 2020USD ($)$ / shares
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts, less fair value of public warrants (in shares) \| shares		8,900,000
Proceeds from sale of Private Placement Warrants			$ 8,900,000
Cash held outside the Trust Account			$ 576,587
Preferred Stock, Par or Stated Value Per Share \| $ / shares			$ 0.0001	$ 0.0001	$ 0.0001
Deferred underwriting fee payable			$ 12,075,000
Transaction costs			$ 19,510,840
Condition for future business combination number of businesses minimum			1
Payments for investment of cash in Trust Account			$ 345,000,000
Condition for future business combination use of proceeds percentage			80
Condition for future business combination threshold Percentage Ownership			50
Condition for future business combination threshold Net Tangible Assets			$ 5,000,001
Redemption limit percentage without prior consent			15
Obligation to redeem Public Shares if entity does not complete a Business Combination (as a percent)			100.00%
Redemption period upon closure			10 days
Maximum Allowed Dissolution Expenses			$ 100,000
Cash			576,587
working capital deficit			(3,062,540)
Working capital loans			$ 0		$ 0
Initial Public Offering.
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts, less fair value of public warrants (in shares) \| shares	34,500,000
Purchase price, per unit \| $ / shares	$ 10
Proceeds from issuance initial public offering	$ 345,000,000
Payments for investment of cash in Trust Account	$ 345,000,000
Initial Public Offering. \| Public Warrants
Subsidiary, Sale of Stock [Line Items]
Share price \| $ / shares	$ 11.50
Private Placement. \| Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Sale of Private Placement Warrants (in shares) \| shares			8,900,000
Exercise price of warrants \| $ / shares			$ 1
Proceeds from sale of Private Placement Warrants			$ 8,900,000
Share price \| $ / shares			$ 11.50
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts, less fair value of public warrants (in shares) \| shares	4,500,000
Purchase price, per unit \| $ / shares	$ 10
Class A Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Proceeds from sale of Private Placement Warrants			$ 14,317,500

REVISION OF PREVIOUSLY ISSUED_3

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details) - USD ($)	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jan. 19, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 03, 2020
Balance sheet as of January 19, 2021 (audited)
Warrant Liabilities	$ 17,259,000
Class A ordinary share subject to possible redemption	345,000,000			$ 345,000,000
Additional paid-in capital					$ 24,137
Accumulated deficit	(32,288,611)			(32,296,203)	(5,000)
Total Shareholders' Equity (Deficit)	$ (32,287,748)	$ (34,941,839)	$ (24,076,800)	(32,295,340)	$ 20,000	$ 20,000	$ 0
As Previously Reported
Balance sheet as of January 19, 2021 (audited)
Class A ordinary share subject to possible redemption				307,704,650
Class A ordinary share				373
Additional paid-in capital				5,824,099
Accumulated deficit				(825,325)
Total Shareholders' Equity (Deficit)				5,000,010
Adjustment
Balance sheet as of January 19, 2021 (audited)
Class A ordinary share subject to possible redemption				37,295,350
Class A ordinary share				(373)
Additional paid-in capital				(5,824,099)
Accumulated deficit				(31,470,878)
Total Shareholders' Equity (Deficit)				$ (37,295,350)
Class A Ordinary Shares Subject to Redemption
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Temporary equity, redemption price per share	$ 10				$ 10
Minimum net tangible assets upon consummation of the redemption	$ 5,000,001

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash equivalents	$ 0	$ 0
Unrecognized tax benefits	0	0
Unrecognized tax benefits accrued for interest and penalties	0	$ 0
Transaction costs	19,510,840
Transaction costs incurred in connection with warrants	820,326
Provision for income taxes	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Condensed balance sheet are reconciled (Details) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Jan. 19, 2021
Less:
Proceeds allocated to Public Warrants		$ (8,900,000)
Plus:
Accretion of carrying value to redemption value	$ (33,008,014)
Class A ordinary share subject to possible redemption		345,000,000	$ 345,000,000
Class A Ordinary Shares
Gross proceeds		345,000,000
Less:
Proceeds allocated to Public Warrants		(14,317,500)
Class A ordinary shares issuance costs		(18,690,514)
Plus:
Accretion of carrying value to redemption value		33,008,014
Class A ordinary share subject to possible redemption		$ 345,000,000

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Net Income (Loss) Per Ordinary Share (Details) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021
Warrants
Basic and diluted net income (loss) per ordinary share
Anti-dilutive securities (in shares)				26,150,000
Class A Ordinary Shares
Numerator:
Allocation of net income (loss), as adjusted			$ 2,123,273	$ (641,404)
Denominator:
Weighted average shares outstanding, basic and diluted			34,500,000	31,981,752
Basic and diluted net income (loss) per ordinary share			$ 0.06	$ (0.02)
Class A Ordinary Shares Subject to Redemption
Denominator:
Weighted average shares outstanding, basic and diluted			34,500,000	31,981,752
Basic and diluted net income (loss) per ordinary share			$ 0.06	$ (0.02)
Class B Ordinary Shares
Numerator:
Allocation of net income (loss), as adjusted	$ (5,000)		$ 530,818	$ (171,330)
Denominator:
Weighted average shares outstanding, basic and diluted	6,250,000	6,250,000	8,625,000	8,542,883
Basic and diluted net income (loss) per ordinary share			$ 0.06	$ (0.02)

PUBLIC OFFERING (Details)

PUBLIC OFFERING (Details) - $ / shares	Jan. 19, 2021	Mar. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Number of units sold		8,900,000
Initial Public Offering.
Subsidiary, Sale of Stock [Line Items]
Number of units sold	34,500,000
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
Share price	$ 11.50
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Number of units sold	4,500,000
Purchase price, per unit	$ 10

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)	3 Months Ended	9 Months Ended
PRIVATE PLACEMENT (Details) - USD ($)	Mar. 31, 2021	Sep. 30, 2021
Subsidiary, Sale of Stock [Line Items]
Cash paid in excess of fair value for Private Placement	$ 1,513,000
Aggregate purchase price		$ 8,900,000
Private Placement. \| Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Number of warrants to purchase shares issued		8,900,000
Exercise price of warrants		$ 1
Cash paid in excess of fair value for Private Placement		$ 1,513,000
Aggregate purchase price		$ 8,900,000
Number of shares per warrant		1
Exercise price of warrant		$ 1
Share price		$ 11.50

RELATED PARTY TRANSACTIONS - Fo

RELATED PARTY TRANSACTIONS - Founder Shares (Details)	Sep. 26, 2021	Jan. 19, 2021D$ / shares	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)shares	Jan. 13, 2021shares
Related Party Transaction [Line Items]
Aggregate purchase price \| $			$ 25,000
Class B Ordinary Shares
Related Party Transaction [Line Items]
Ratio to be applied to the stock in the conversion	20.00%
Founder Shares \| Sponsor \| Class B Ordinary Shares
Related Party Transaction [Line Items]
Aggregate purchase price \| $				$ 25,000
Number of shares issued \| shares				7,187,500
Aggregate number of shares owned \| shares					8,625,000
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

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($)	Jan. 13, 2021	Sep. 30, 2021	Sep. 30, 2021	Jan. 05, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Repayment of promissory note - related party			$ 182,670
Working capital loans warrant
Related Party Transaction [Line Items]
Outstanding balance of related party note		$ 0	0		$ 0
Promissory Note with Related Party
Related Party Transaction [Line Items]
Maximum borrowing capacity of related party promissory note				$ 300,000
Outstanding balance of related party note					$ 129,671
Administrative Support Agreement
Related Party Transaction [Line Items]
Expenses per month	$ 10,000
Expenses incurred and paid		30,000	90,000
Related Party Loans \| Working capital loans warrant
Related Party Transaction [Line Items]
Loan conversion agreement warrant		$ 1,500,000	$ 1,500,000
Exercise price of warrants		$ 1	$ 1

COMMITMENTS (Details)

COMMITMENTS (Details)	9 Months Ended
COMMITMENTS (Details)	Sep. 30, 2021USD ($)$ / shares
COMMITMENTS
Deferred fee per unit \| $ / shares	$ 0.35
Aggregate deferred underwriting fee payable \| $	$ 12,075,000

COMMITMENTS - Merger Agreement

COMMITMENTS - Merger Agreement (Details) - USD ($)	Aug. 13, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Conditions to Closing \| THIL
Restructuring Cost and Reserve [Line Items]
Threshold for PIPE Financing	$ 100,000,000
Conditions to Closing \| Maximum [Member] \| THIL
Restructuring Cost and Reserve [Line Items]
Minimum proceeds from the Permitted Equity Financing required	250,000,000
Conditions to Closing \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Net tangible asset	5,000,001
Conditions to Closing \| Minimum [Member] \| THIL
Restructuring Cost and Reserve [Line Items]
Minimum proceeds from the Permitted Equity Financing required	$ 175,000,000
Class A Ordinary Shares
Restructuring Cost and Reserve [Line Items]
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001		$ 0.0001
Class B Ordinary Shares
Restructuring Cost and Reserve [Line Items]
Common shares, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Sponsor Locked-Up Shares
Restructuring Cost and Reserve [Line Items]
Percent of the Sponsor Locked-Up Shares, six months from and after Closing Date	100.00%
Sponsor Locked-Up period for 100% of the Sponsor Locked-Up Shares	6 months
Percent of the Sponsor Locked-Up Shares, twelve months from and after the Closing Date	80.00%
Sponsor Locked-Up period for 80% of the Sponsor Locked-Up Shares	12 months
Percent of the Sponsor Locked-Up Shares, eighteen months from and after the Closing Date	50.00%
Sponsor Locked-Up Period, 50% of Sponsor Locked-Up Shares	18 months

SHAREHOLDERS' EQUITY - Preferre

SHAREHOLDERS' EQUITY - Preferred Stock Shares (Details) - $ / shares	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
SHAREHOLDERS' EQUITY
Preferred shares, shares authorized	2,000,000	2,000,000	2,000,000
Preferred stock, par value, (per share)	$ 0.0001	$ 0.0001	$ 0.0001
Preferred shares, shares issued	0		0
Preferred shares, shares outstanding	0	0	0

SHAREHOLDERS' EQUITY - Common S

SHAREHOLDERS' EQUITY - Common Stock Shares (Details)	Sep. 26, 2021	Sep. 30, 2021USD ($)$ / sharesshares	Aug. 13, 2021$ / shares	Jun. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares
Class A Ordinary Shares
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		$ 0.0001
Common shares, votes per share \| $		1
Class A Ordinary Shares Subject to Redemption
Class of Stock [Line Items]
Class A common stock subject to possible redemption, outstanding (in shares)		34,500,000			0
Class A Common Stock Not Subject to Redemption
Class of Stock [Line Items]
Common shares, shares issued (in shares)		34,500,000			0
Common shares, shares outstanding (in shares)		34,500,000			0
Class B Ordinary Shares
Class of Stock [Line Items]
Common shares, shares authorized (in shares)		20,000,000		20,000,000	20,000,000
Common shares, par value (in dollars per share) \| $ / shares		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common shares, votes per share \| $		1
Common shares, shares issued (in shares)		8,625,000		8,625,000	8,625,000
Common shares, shares outstanding (in shares)		8,625,000		8,625,000	8,625,000
Conversion ratio		1
Ratio to be applied to the stock in the conversion	20.00%

WARRANT LIABILITIES (Details)

WARRANT LIABILITIES (Details)	9 Months Ended
WARRANT LIABILITIES (Details)	Sep. 30, 2021D$ / sharesshares	Dec. 31, 2020shares
Class of Warrant or Right [Line Items]
Maximum period after business combination in which to file registration statement	20 days
Period of time within which registration statement is expected to become effective	60 days
Class of warrant or right, outstanding \| shares		0
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants transferable, assignable and salable restriction period minimum days	30 days
Class of warrant or right, outstanding \| shares	8,900,000
Public Warrants
Class of Warrant or Right [Line Items]
Warrant exercise period condition one	30 days
Warrant exercise period condition two	1 year
Public Warrants expiration term	5 years
Class of warrant or right, outstanding \| shares	17,250,000
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]
Warrant redemption condition minimum share price \| $ / shares	$ 18
Redemption price per public warrant (in dollars per share) \| $ / shares	$ 0.01
Redemption period	30 days
Public Warrants \| Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00 \| Class A Ordinary Shares
Class of Warrant or Right [Line Items]
Warrant redemption condition minimum share price \| $ / shares	$ 18
Threshold trading days for redemption of public warrants \| D	20
Threshold consecutive trading days for redemption of public warrants \| D	30
Threshold number of business days before sending notice of redemption to warrant holders \| D	3
Public Warrants \| Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $10.00
Class of Warrant or Right [Line Items]
Warrant redemption condition minimum share price \| $ / shares	$ 10
Redemption price per public warrant (in dollars per share) \| $ / shares	0.10
Public Warrants \| Redemption of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $10.00 \| Class A Ordinary Shares
Class of Warrant or Right [Line Items]
Warrant redemption condition minimum share price \| $ / shares	$ 10
Threshold trading days for redemption of public warrants \| D	20
Threshold consecutive trading days for redemption of public warrants \| D	30
Threshold number of business days before sending notice of redemption to warrant holders \| D	3
Public Warrants \| Redemption of Warrants When the Price per Class A Ordinary Share Less Than $18.00 [Member] \| Class A Ordinary Shares
Class of Warrant or Right [Line Items]
Redemption price per public warrant (in dollars per share) \| $ / shares	$ 18
Threshold trading days for redemption of public warrants \| D	20
Threshold consecutive trading days for redemption of public warrants \| D	30
Public Warrants \| Scenario One \| Class A Ordinary Shares \| Maximum [Member]
Class of Warrant or Right [Line Items]
Share price \| $ / shares	$ 9.20
Public Warrants \| Scenario Two
Class of Warrant or Right [Line Items]
Percentage threshold measurement of gross proceeds representing total equity proceeds	60.00%
Public Warrants \| Scenario Three
Class of Warrant or Right [Line Items]
Threshold trading days for redemption of public warrants \| D	20
Adjustment one of redemption price of stock based on market value and newly issued price (as a percent)	115.00%
Share price \| $ / shares	$ 9.20
Share redemption trigger price adjustment of higher Market Value and Newly Issued Price	180.00%

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details)	3 Months Ended	9 Months Ended
FAIR VALUE MEASUREMENTS (Narrative) (Details)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Marketable securities held in Trust Account	$ 345,108,792	$ 345,108,792
Proceeds from interest income withdrawn from trust	$ 0	0
Private Placement Warrants
Fair value assets transferred into (out of) level 3		7,565,000
Public Warrants
Fair value assets transferred into (out of) level 3		$ 8,797,500

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of gross holding losses and fair value of held-to-maturity securities (Details)	Sep. 30, 2021USD ($)
Liabilities, Fair Value Disclosure [Abstract]
Warranty Liabilities	$ 17,259,000
Level 1 \| Recurring \| Public Warrants
Liabilities, Fair Value Disclosure [Abstract]
Warranty Liabilities	11,385,000
Level 1 \| U.S. Treasury Securities \| Recurring
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	345,108,792
Gross Holding Loss	(4,845)
Fair Value	345,103,947
Level 2 \| Recurring \| Private Placement Warrants
Liabilities, Fair Value Disclosure [Abstract]
Warranty Liabilities	$ 5,874,000

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Change in the Fair Value of the Warrant Liabilities (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jan. 19, 2021$ / sharesUSD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value of warrant liabilities		$ (4,968,500)		$ (4,445,500)
Level 1
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfer			$ (8,797,500)
Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Warrant liabilities at beginning			0	0
Issuance of Public and Private Warrants	$ 21,704,500
Change in fair value of warrant liabilities	(8,368,000)	3,026,000
Transfer		(7,565,000)
Warrant liabilities at end of period	4,539,000		4,539,000
Warrants \| Market price
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement \| $ / shares					9.58
Warrants \| Risk-free interest rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement					0.0095
Warrants \| Dividend yield
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement					0
Warrants \| Expected volatility
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement					0.151
Warrants \| Exercise price
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement \| $ / shares					11.50
Warrants \| Term
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement					5.25
Warrants \| Probability of transaction
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement					0.75
Private Placement Warrants \| Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Warrant liabilities at beginning			0	0
Issuance of Public and Private Warrants	7,387,000
Change in fair value of warrant liabilities	(2,848,000)	3,026,000
Transfer		$ (7,565,000)
Warrant liabilities at end of period	4,539,000		4,539,000
Public Warrants \| Level 1
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfer			(8,797,500)
Public Warrants \| Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Warrant liabilities at beginning			$ 0	$ 0
Issuance of Public and Private Warrants	14,317,500
Change in fair value of warrant liabilities	$ (5,520,000)