Peridot Acquisition Corp II (PDOT) 10-Q12 Aug 212021 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Aug. 12, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	PERIDOT ACQUISITION CORP. II
Entity Central Index Key	0001841845
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	true
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Address, State or Province	TX
Entity Incorporation, State or Country Code	E9
Document Quarterly Report	true
Document Transition Report	false
Entity Ex Transition Period	false
Entity Address, Address Line One	2229 San Felipe Street
Entity Address, Address Line Two	Suite 1450
Entity Address, Postal Zip Code	77019
Entity Tax Identification Number	98-1586920
Entity File Number	001-40180
Entity Address, City or Town	Houston
Local Phone Number	322-7310
City Area Code	713
Capital Units [Member]
Document Information [Line Items]
Title of 12(b) Security	Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-fifth of one redeemable warrant
Trading Symbol	PDOT.U
Security Exchange Name	NYSE
Warrants [Member]
Document Information [Line Items]
Title of 12(b) Security	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	PDOT WS
Security Exchange Name	NYSE
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A ordinary shares included as part of the units
Trading Symbol	PDOT
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		40,845,476
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,211,369

Condensed Balance Sheet

Condensed Balance Sheet	Jun. 30, 2021USD ($)
Current assets
Cash	$ 469,747
Prepaid expenses	726,200
Total current assets	1,195,947
Investments held in Trust Account	408,503,883
TOTAL ASSETS	409,699,830
Current liabilities
Accrued expenses	517,687
Total current liabilities	517,687
Warrant Liabilities	20,355,390
Deferred underwriting fee payable	14,295,917
Total Liabilities	35,168,994
Commitments
Class A ordinary shares subject to possible redemption 36,953,083 shares at $10.00 per share redemption value	369,530,830
Shareholders' Equity
Preference shares	0
Additional paid-in capital	8,558,012
Accumulated Deficit	(3,559,417)
Total Shareholders' Equity	5,000,006
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	409,699,830
Common Class A [Member]
Shareholders' Equity
Ordinary shares	390
Common Class B [Member]
Shareholders' Equity
Ordinary shares	$ 1,021

Condensed Balance Sheet (Parent

Condensed Balance Sheet (Parenthetical)	Jun. 30, 2021$ / sharesshares
Preferred stock, par value \| $ / shares	$ 0.0001
Preferred stock, shares authorized	1,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common Class A [Member]
Ordinary shares subject to possible redemption shares	36,953,083
Ordinary shares subject to possible redemption price per share \| $ / shares	$ 10
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	300,000,000
Common stock, shares issued	3,892,393
Common stock, shares outstanding	3,892,393
Common Class B [Member]
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	30,000,000
Common stock, shares issued	10,211,369
Common stock, shares outstanding	10,211,369

Condensed Statement of Operatio

Condensed Statement of Operations - USD ($)	3 Months Ended	6 Months Ended
Condensed Statement of Operations - USD ($)	Jun. 30, 2021	Jun. 30, 2021
General and Administrative Expense	$ 646,170	$ 758,676
Loss from operations	(646,170)	(758,676)
Other expense:
Change in fair value of warrant liability	(6,234,984)	(2,383,964)
Transaction costs allocated to warrant liabilities		(465,914)
Interest income - bank	14	14
Interest earned on investments held in Trust Account	40,640	49,123
Total other expense, net	(6,194,330)	(2,800,741)
Net income	$ (6,840,500)	$ (3,559,417)
Class A Redeemable ordinary shares [Member]
Other expense:
Weighted average shares outstanding	40,845,476	40,583,558
Basic and diluted net income (loss) per share	$ 0	$ 0
Class B Non Redeemable ordinary shares [Member]
Other expense:
Weighted average shares outstanding	10,211,369	9,761,639
Basic and diluted net income (loss) per share	$ (0.67)	$ (0.37)

Condensed Statement of Changes

Condensed Statement of Changes in Shareholders' Equity - USD ($)	Total	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Class A Ordinary Shares [Member]Common Stock [Member]	Class B Ordinary Shares [Member]	Class B Ordinary Shares [Member]Common Stock [Member]
Beginning balance at Jan. 07, 2021	$ 0	$ 0	$ 0	$ 0		$ 0
Beginning balance, Shares at Jan. 07, 2021				0		0
Issuance of Class B ordinary shares to Sponsor, Shares				0		10,350,000
Issuance of Class B ordinary shares to Sponsor	25,000	23,965	0	$ 0		$ 1,035
Sale of Units, net of underwriting discounts, offering costs, and initial fair value of Public Warrants, Shares				40,845,476		0
Sale of Units, net of underwriting discounts, offering costs, and initial fair value of Public Warrants	377,861,871	377,857,786	0	$ 4,085		$ 0
Excess of cash received over the fair value of Private Placement Warrants	203,382	203,382	0	$ 0		$ 0
Forfeiture of Founder Shares, Shares				0		(138,631)
Forfeiture of Founder Shares	0	14	0	$ 0		$ (14)
Class A ordinary shares subject to possible redemption, Shares				(37,637,133)		0
Class A ordinary shares subject to possible redemption	(376,371,330)	(376,367,566)	0	$ (3,764)		$ 0
Net income	3,281,083	0	3,281,083	0		0
Ending balance at Mar. 31, 2021	5,000,006	1,717,581	3,281,083	$ 321		$ 1,021
Ending balance, Shares at Mar. 31, 2021				3,208,343		10,211,369
Beginning balance at Jan. 07, 2021	0	0	0	$ 0		$ 0
Beginning balance, Shares at Jan. 07, 2021				0		0
Net income	(3,559,417)				$ (3,559,417)
Ending balance at Jun. 30, 2021	5,000,006	8,558,012	(3,559,417)	$ 390		$ 1,021
Ending balance, Shares at Jun. 30, 2021				3,892,393		10,211,369
Excess Of Cash Received Over The Fair Value Of Private Placement Warrants Share				0		0
Beginning balance at Mar. 31, 2021	5,000,006	1,717,581	3,281,083	$ 321		$ 1,021
Beginning balance, Shares at Mar. 31, 2021				3,208,343		10,211,369
Class A ordinary shares subject to possible redemption, Shares				684,050		0
Class A ordinary shares subject to possible redemption	6,840,500	6,840,431	0	$ 69		$ 0
Net income	(6,840,500)	0	(6,840,500)	0	$ (6,840,500)	0
Ending balance at Jun. 30, 2021	$ 5,000,006	$ 8,558,012	$ (3,559,417)	$ 390		$ 1,021
Ending balance, Shares at Jun. 30, 2021				3,892,393		10,211,369

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows	6 Months Ended
Condensed Statement of Cash Flows	Jun. 30, 2021USD ($)
Cash Flows from Operating Activities:
Net loss	$ (3,559,417)
Adjustments to reconcile net loss to net cash used in operating activities:
Formation costs paid by sponsor	5,000
Interest earned on investments held in Trust Account	(49,123)
Change in fair value of warrant liabilities	2,383,964
Transaction costs allocated to warrant liabilities	465,914
Changes in operating assets and liabilities:
Prepaid expenses	(726,200)
Accrued expenses	517,687
Net cash used in operating activities	(962,175)
Cash Flows from Investing Activities:
Investment of cash in Trust Account	(408,454,760)
Net cash used in investing activities	(408,454,760)
Cash Flows from Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid	400,285,665
Proceeds from sale of Private Placement Units	10,169,095
Proceeds from promissory note – related party	29,878
Repayment of promissory note – related party	(140,368)
Payment of offering costs	(457,588)
Net cash provided by financing activities	409,886,682
Net Change in Cash	469,747
Cash – Beginning of period	0
Cash – End of period	469,747
Non-Cash investing and financing activities:
Offering costs paid by Sponsor in exchange for the issuance of founder shares	20,000
Offering costs paid through promissory note	110,490
Initial classification of ordinary shares subject to possible redemption	327,759,920
Change in value of ordinary shares subject to possible redemption	41,759,884
Deferred underwriting fee payable	14,295,917
Forfeiture of founder shares	$ (14)

Description of Organization and

Description of Organization and Business Operations	6 Months Ended
Description of Organization and Business Operations	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Organization and Business Operations	Note 1 — Description of Organization and Business Operations Peridot Acquisition Corp. II (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on January 8, 2021. 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”). Although the Company is not limited to a particular industry or sector for purposes of consummating a Business Combination, the Company intends to focus on environmentally sound infrastructure, industrial applications and disruptive technologies that eliminate or mitigate greenhouse gas (GHG) emissions and/or enhance resilience to climate change. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. As of June 30, 2021, the Company had not commenced any operations. All activity for the period from January 8, 2021 (inception) through June 30, 2021 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below. 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 The registration statement for the Company’s Initial Public Offering was declared effective on March 8, 2021. On March 11, 2021, the Company consummated its Initial Public Offering of an aggregate 36,000,000 Units, at $10.00 per Unit (a “Unit” and, with respect to the Class A Ordinary Shares included in the Units sold, the “Public Shares”), and a private placement with Peridot Acquisition Sponsor II, LLC (the “Sponsor”) of 9,200,000 private placement warrants (the “Private Placement Warrants”) at a price of $1.00 per warrant, generating $360,000,000 of proceeds that was deposited in the Company’s trust account. On March 17, 2021, the Company issued an additional 4,845,476 Units pursuant to the partial exercise by the underwriters of their over-allotment option in connection with the Initial Public Offering. Such Units were priced at $10.00 per unit, generating total gross proceeds of $48,454,760. Concurrently, the Sponsor also purchased an additional 969,095 private placement warrants for $969,095 to cover the underwriters’ partial exercise of their over-allotment option in connection with the Initial Public Offering, as further described in Note 4. Of the proceeds received from the consummation of the Initial Public Offering, the private placement purchases by the Sponsor and the sale of the over-allotment Units, $408,454,760 (or $10.00 per unit sold in the public offering) was deposited in the Company’s trust account. Transaction costs amounted to $23,053,090, consisting of $8,169,095 of underwriting fees, $14,295,917 of deferred underwriting fees and $588,078 of other offering costs; of this amount $465,914 was expensed as of the date of the initial public offering and $22,587,176 was charged to shareholders’ equity. Following the closing of the Initial Public Offering on March 11, 2021 and partial exercise of the underwriters’ over-allotment option on March 17, 2021, $408,454,760 ($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, 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 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 any deferred underwriting commissions and taxes payable on the income 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 prospectus. The per-share 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 per-share The Company will have until March 11, 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 business days thereafter, redeem 100% of the Public Shares, at a per-share 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 underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 6) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period, and in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). In order to protect the amounts held in the Trust Account, the Sponsor has agreed 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 underwriters 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 June 30, 2021, the Company had $469,747 in its operating bank account and working capital of $678,260. 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 5). As of June 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 stockholders, 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited 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 S-X The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the SEC on March 10, 2021, as well as the Company’s Current Reports on Form 8-K, 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 Use of Estimates The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of 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 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 had no cash equivalents as of June 30, 2021. 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 features redemption rights that is 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 June 30, 2021, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. Investments held in Trust Account The Company presents its investments in treasury securities on the balance sheet at amortized cost and adjusted for the amortization or accretion of premiums or discounts. The Company presents its investments in money market funds on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in interest income in the accompanying statements of operations. The estimated fair value of investments held in the Trust Account are determined using available market information. Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities were expensed as incurred in the condensed statements of operations. Offering costs associated with the Class A ordinary shares issued were charged to shareholders’ equity upon the completion of the Initial Public Offering. Offering costs amounting to were charged to shareholders’ equity upon the completion of the Initial Public Offering, and of the offering costs were related to the warrant liabilities and charged to the condensed statement of operations. 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 Public Warrants and Private Placement Warrants (together with the Public Warrants, the “Warrants”) as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in non-cash Income Taxes ASC Topic 740, “Income Taxes,” prescribes a recognition threshold and a measurement attribute for the financial statements 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 June 30, 2021, 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. Net Income (loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted income per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement Warrants since the average stock price of the Company’s ordinary shares for the three and six months ended June 30, 2021 was less than the exercise price and therefore, the inclusion of such warrants under the treasury stock method would be anti-dilutive. The warrants are exercisable to purchase The Company’s statement of operations includes a presentation of income per share for ordinary shares subject to possible redemption in a manner similar to the two-class non-redeemable non-redeemable non-redeemable The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): Three Months Ended June 30, For the Period from Class A Ordinary Shares Numerator: Earnings allocable to Class A Ordinary Shares Interest income $ 40,640 $ 49,123 Net Earnings $ 40,640 $ 49,123 Denominator: Weighted Average Class A Ordinary Shares Class A Ordinary Shares, Basic and Diluted 40,845,476 40,583,558 Earnings/Basic and Diluted Class A Ordinary Shares $ 0.00 $ 0.00 Class B Ordinary Shares Numerator: Net income minus Net Earnings Net loss $ (6,840,500 ) $ (3,559,417 ) Less: Net Earnings (40,640 ) (49,123 ) Net Loss $ (6,881,140 ) $ (3,608,540 ) Denominator: Weighted Average Class B Ordinary Shares Class B Ordinary Shares, Basic and Diluted 10,211,369 9,761,639 Earnings/Basic and Diluted Class B Ordinary Shares $ (0.67 ) $ (0.37 ) Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account 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 which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the Company’s condensed balance sheet, primarily due to their short-term nature, other than the derivative warrant liability. Recent Accounting Standards In August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, 470-20) 815-40): 2020-06”), 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 accompanying financial statements.

Public Offering

Public Offering	6 Months Ended
Public Offering	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Public Offering	Note 3 — Public Offering Pursuant to the Initial Public Offering, on March 11, 2021, the Company sold 36,000,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one-fifth

Private Placement

Private Placement	6 Months Ended
Private Placement	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Private Placement	Note 4 — Private Placement Simultaneously with the closing of the Initial Public Offering, we consummated the sale of an aggregate of 9,200,000 Private Placement Warrants to our Sponsor at a price of $1.00 per warrant, generating gross proceeds of $9,200,000. In connection with the underwriters’ election to partially exercise their over-allotment option, the Company sold an additional 969,095 Private Placement Warrants to our Sponsor at $1.00 per Private Placement Warrant, generating gross proceeds of $969,095. 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 8). 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	6 Months Ended
Related Party Transactions	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 5 — Related Party Transactions Founder Shares During the period ended March 31, 2021 the Sponsor paid $25,000 to cover certain offering and formation costs of the Company in consideration for 10,350,000 Class B ordinary shares (the “Founder Shares”). The Founder Shares included an aggregate of up to 1,350,000 shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised, so that the number of Founder Shares would equal, on an as-converted 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, 30-trading Promissory Note – Related Party On January 13, 2021, the Company issued an unsecured promissory note (the “Promissory Note”) to the Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of $300,000. The Promissory Note was non-interest Administrative Support Agreement On March 8, 2021, the Company entered into an agreement to pay an affiliate of our Sponsor a monthly fee of $40,000 for office space, secretarial and administrative support services to the Company until the Company’s initial business combination or liquidation and, upon the earlier of the Business Combination or the Company’s liquidation, at the affiliate’s option, a payment equal to $960,000 less any amounts previously paid. During the three months ended June 30, 2021 and for the period from January 8, 2021 (inception) through June 30, 2021, the company incurred and accrued $120,000 and $160,000 relating to this agreement, respectively. As of June 30, 2021, the total amount payable for these services was $160,000. 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”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon completion of a Business Combination into warrants at a price of $1.00 per warrant. Such warrants would be identical to the Private Placement Warrants. 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. As of June 30, 2021, the Company had no outstanding borrowings under the Working Capital Loans.

Commitments

Commitments	6 Months Ended
Commitments	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments	Note 6 — Commitments Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 Registration and Shareholder Rights Pursuant to a registration and shareholder rights agreement entered into on March 8, 2021, the holders of the Founder Shares, Private Placement Warrants and 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) are entitled to registration rights. The holders of these securities will be 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 provides 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 Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a 45-day The underwriters are entitled to a deferred fee of $0.35 per Unit, or $14,295,917 in the aggregate. The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Note 7 — Shareholders’ Equity Preference Shares Class A Ordinary Shares Class B Ordinary Shares Only holders of the Class B ordinary shares will have the right to vote on the election of directors prior to the Business Combination. 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 one-to-one.

Warrant Liabilities

Warrant Liabilities	6 Months Ended
Warrant Liabilities	Jun. 30, 2021
Warrants and Rights Note Disclosure [Abstract]
Warrant Liability	Note 8 — Warrant Liabilities 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 covering the issuance, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause the same to become effective 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 thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement; provided that if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, 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 share sub-divisions, 30-trading 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 equals or exceeds $10.00 per share (as adjusted for share sub-divisions, 30-trading • if the closing price of the Class A ordinary shares for any 20 trading days within a 30-trading sub-divisions, 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,

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9 — 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. At June 30, 2021, assets held in the Trust Account were comprised of $1,581 of cash and $408,502,302 in U.S. Treasury securities. During the period ended June 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 June 30, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. Held-To-Maturity Level Amortized Gross Fair Value Assets: June 30, 2021 U.S. Treasury Securities (Mature on 9/9/2021) 1 $ 408,502,302 $ (5,070 ) $ 408,497,232 Liabilities: June 30, 2021 Warrant Liability – Public Warrants 1 9,067,695 June 30, 2021 Warrant Liability – Private Placement Warrants 2 11,287,695 The Warrants are accounted for as liabilities in accordance with ASC 815-40 As of March 11, 2021, the Warrants were valued using a Monte Carlo simulation model for the Private Placement Warrants and the Public Warrants, which is considered to be a Level 3 fair value measurement. The Monte Carlo simulation model’s primary unobservable input utilized in determining the fair value of the Warrants is the expected volatility of the ordinary shares. The expected volatility as of March 11, 2021 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 is classified as Level 1 due to the use of an observable market quote in an active market under the ticker PDOT WS. For periods subsequent to the detachment of the Public Warrants from the Units, the close price of the Public Warrant price was used as the fair value of the Warrants as of each relevant date. As the transfer of Private Placement Warrants to anyone outside of a small group of individuals who are permitted transferees would result in the Private Placement Warrants having substantially the same terms as the Public Warrants, the Company determined that the fair value of each Private Placement Warrant is equivalent to that of each Public Warrant. As such, the Private Placement Warrants are classified as Level 2. The following table presents that changes in the fair value of Level 3 warrant liabilities. Public Private Warrant Liabilities Fair value as of Inception $ — $ — $ — Initial measurement on March 11, 2021 8,005,713 9,965,713 17,971,426 Change in valuation inputs or other assumptions (1,715,510 ) (2,135,510 ) (3,851,020 ) Fair value as of March 31, 2021 $ 6,290,203 $ 7,830,203 $ 14,120,406 Change in valuation inputs or other assumptions 2,777,492 2,457,492 6,234,984 Transfer to Level 1 (9,067,695 ) — (9,067,695 ) Transfer to Level 2 — (11,287,695 ) (11,287,695 ) Fair value as of June 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 six months ended June 30, 2021 was $9,067,695. The estimated fair value of the Private Placement Warrants transferred from a Level 3 measurement to a Level 2 fair value measurement during the six months ended June 30, 2021 was $11,287,695.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 10 — Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited 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 S-X The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the SEC on March 10, 2021, as well as the Company’s Current Reports on Form 8-K,
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
Use of Estimates	Use of Estimates The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of 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 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 had no cash equivalents as of June 30, 2021.
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 features redemption rights that is 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 June 30, 2021, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.
Investments held in Trust Account	Investments held in Trust Account The Company presents its investments in treasury securities on the balance sheet at amortized cost and adjusted for the amortization or accretion of premiums or discounts. The Company presents its investments in money market funds on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in interest income in the accompanying statements of operations. The estimated fair value of investments held in the Trust Account are determined using available market information.
Offering Costs	Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities were expensed as incurred in the condensed statements of operations. Offering costs associated with the Class A ordinary shares issued were charged to shareholders’ equity upon the completion of the Initial Public Offering. Offering costs amounting to were charged to shareholders’ equity upon the completion of the Initial Public Offering, and of the offering costs were related to the warrant liabilities and charged to the condensed statement of operations.
Warrant Liability	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 Public Warrants and Private Placement Warrants (together with the Public Warrants, the “Warrants”) as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in non-cash
Income Taxes	Income Taxes ASC Topic 740, “Income Taxes,” prescribes a recognition threshold and a measurement attribute for the financial statements 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 June 30, 2021, 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.
Net Income Per Ordinary Share	Net Income (loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted income per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement Warrants since the average stock price of the Company’s ordinary shares for the three and six months ended June 30, 2021 was less than the exercise price and therefore, the inclusion of such warrants under the treasury stock method would be anti-dilutive. The warrants are exercisable to purchase The Company’s statement of operations includes a presentation of income per share for ordinary shares subject to possible redemption in a manner similar to the two-class non-redeemable non-redeemable non-redeemable The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): Three Months Ended June 30, For the Period from Class A Ordinary Shares Numerator: Earnings allocable to Class A Ordinary Shares Interest income $ 40,640 $ 49,123 Net Earnings $ 40,640 $ 49,123 Denominator: Weighted Average Class A Ordinary Shares Class A Ordinary Shares, Basic and Diluted 40,845,476 40,583,558 Earnings/Basic and Diluted Class A Ordinary Shares $ 0.00 $ 0.00 Class B Ordinary Shares Numerator: Net income minus Net Earnings Net loss $ (6,840,500 ) $ (3,559,417 ) Less: Net Earnings (40,640 ) (49,123 ) Net Loss $ (6,881,140 ) $ (3,608,540 ) Denominator: Weighted Average Class B Ordinary Shares Class B Ordinary Shares, Basic and Diluted 10,211,369 9,761,639 Earnings/Basic and Diluted Class B Ordinary Shares $ (0.67 ) $ (0.37 )
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account 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 which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the Company’s condensed balance sheet, primarily due to their short-term nature, other than the derivative warrant liability.
Recent Accounting Standards	Recent Accounting Standards In August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, 470-20) 815-40): 2020-06”), 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 accompanying financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Earnings Per Share Basic And Diluted	The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): Three Months Ended June 30, For the Period from Class A Ordinary Shares Numerator: Earnings allocable to Class A Ordinary Shares Interest income $ 40,640 $ 49,123 Net Earnings $ 40,640 $ 49,123 Denominator: Weighted Average Class A Ordinary Shares Class A Ordinary Shares, Basic and Diluted 40,845,476 40,583,558 Earnings/Basic and Diluted Class A Ordinary Shares $ 0.00 $ 0.00 Class B Ordinary Shares Numerator: Net income minus Net Earnings Net loss $ (6,840,500 ) $ (3,559,417 ) Less: Net Earnings (40,640 ) (49,123 ) Net Loss $ (6,881,140 ) $ (3,608,540 ) Denominator: Weighted Average Class B Ordinary Shares Class B Ordinary Shares, Basic and Diluted 10,211,369 9,761,639 Earnings/Basic and Diluted Class B Ordinary Shares $ (0.67 ) $ (0.37 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2021 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. Held-To-Maturity Level Amortized Gross Fair Value Assets: June 30, 2021 U.S. Treasury Securities (Mature on 9/9/2021) 1 $ 408,502,302 $ (5,070 ) $ 408,497,232 Liabilities: June 30, 2021 Warrant Liability – Public Warrants 1 9,067,695 June 30, 2021 Warrant Liability – Private Placement Warrants 2 11,287,695
Summary of Change in the Fair Value of Warrant Liabilities	The following table presents that changes in the fair value of Level 3 warrant liabilities. Public Private Warrant Liabilities Fair value as of Inception $ — $ — $ — Initial measurement on March 11, 2021 8,005,713 9,965,713 17,971,426 Change in valuation inputs or other assumptions (1,715,510 ) (2,135,510 ) (3,851,020 ) Fair value as of March 31, 2021 $ 6,290,203 $ 7,830,203 $ 14,120,406 Change in valuation inputs or other assumptions 2,777,492 2,457,492 6,234,984 Transfer to Level 1 (9,067,695 ) — (9,067,695 ) Transfer to Level 2 — (11,287,695 ) (11,287,695 ) Fair value as of June 30, 2021 — — —

Description of Organization a_2

Description of Organization and Business Operations - Additional Information (Detail) - USD ($)	Mar. 17, 2021	Mar. 11, 2021	Jun. 30, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Transaction costs			$ 23,053,090
Underwriting fees			8,169,095
Deferred Underwriting Fee Payable			14,295,917
Other offering costs			588,078
Adjustment to additional paid in capital stock issuance costs			$ 22,587,176
Acquirees assets as a percentage of net market value of assets held in trust account			80.00%
Equity method investment ownership percentage			50.00%
Business Acquisition, share price			$ 10
Minimum networth to effect a business combination			$ 5,000,001
Percentage of public shares eligible to be transferred or redeemed without any restriction			15.00%
Business Combination date			Mar. 11, 2023
Percentage of public shares to be redeemed in case business combination is not consummated			100.00%
Dissolution expenses payable			$ 100,000
Per share amount to be maintained in the trust account			$ 10
Payment to acquire restricted investments		$ 48,454,760
working capital			$ 678,260
Working Capital Loans			0	$ 0
Cash			469,747
Other Expense [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Transaction costs			465,914
Trust Account [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Payment to acquire restricted investments			$ 408,454,760
Restricted investment value per share			$ 10
Term of restricted investments			185 days
IPO [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of units, Number of units Issued in Transaction		36,000,000
Sale of units, Price Per units		$ 10
Sale of units, Consideration Received on Transaction		$ 360,000,000
Private Placement [Member] \| Sponser [Member] \| Trust Account [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Payment to acquire restricted investments	$ 408,454,760
Restricted investment value per share	$ 10
Private Placement [Member] \| Private Placement Warrants [Member] \| Sponser [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of units, Number of units Issued in Transaction	969,095	9,200,000
Sale of units, Price Per units	$ 1	$ 1
Sale of units, Consideration Received on Transaction	$ 969,095	$ 9,200,000
Over-Allotment Option [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of units, Number of units Issued in Transaction	4,845,476
Sale of units, Price Per units	$ 10
Sale of units, Consideration Received on Transaction	$ 48,454,760

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2021USD ($)shares
Cash equivalents	$ 0
Offering costs related to initial public offering	22,587,176
Offering costs allocated to warrant liability	465,914
Unrecognized tax benefits	0
Unrecognized tax benefits, accrued interest and penalties	0
Cash insured with federal deposit insurance	$ 250,000
Common Class A [Member]
Number of securities called by the warrants or rights \| shares	18,338,190

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Earnings Per Share Basic and Diluted (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest income	$ 40,640		$ 49,123
Numerator: Net income minus Redeemable Net Earnings
Net loss	(6,840,500)	$ 3,281,083	(3,559,417)
Class A Ordinary Shares [Member]
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest income	40,640		49,123
Net Earnings	40,640		49,123
Numerator: Net income minus Redeemable Net Earnings
Less: Net Earnings	$ (40,640)		$ (49,123)
Denominator: Weighted Average Ordinary Shares
Weighted average shares outstanding	40,845,476		40,583,558
Earnings/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$ 0		$ 0
Class B Ordinary Shares [Member]
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Net Earnings	$ 40,640		$ 49,123
Numerator: Net income minus Redeemable Net Earnings
Net loss	(6,840,500)		(3,559,417)
Less: Net Earnings	(40,640)		(49,123)
Net income	$ (6,881,140)		$ (3,608,540)
Denominator: Weighted Average Ordinary Shares
Weighted average shares outstanding	10,211,369		9,761,639
Earnings/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$ (0.67)		$ (0.37)

Public Offering - Additional In

Public Offering - Additional Information (Detail) - USD ($)	Mar. 17, 2021	Mar. 11, 2021	Jun. 30, 2021
Subsidiary, Sale of Stock [Line Items]
Payment to acquire restricted investments		$ 48,454,760
Assets Held-in-trust, Noncurrent	$ 408,454,760		$ 408,503,883
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of units, Number of units issued		36,000,000
Sale of units, price per units		$ 10
Sale of units, gross proceeds		$ 360,000,000
Sale of unit, description of transaction		Each Unit consists of one Class A ordinary share and one-fifth of one redeemable warrant (“Public Warrant”).
IPO [Member] \| Public Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Class of warrant exercise price		$ 11.50
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of units, Number of units issued	4,845,476
Sale of units, price per units	$ 10
Sale of units, gross proceeds	$ 48,454,760

Private Placement - Additional

Private Placement - Additional Information (Detail) - Private Placement [Member] - Private Placement Warrants [Member] - Sponser [Member] - USD ($)	Mar. 17, 2021	Mar. 11, 2021
Subsidiary, Sale of Stock [Line Items]
Sale of units, Number of units issued	969,095	9,200,000
Sale of units, price per units	$ 1	$ 1
Sale of units, gross proceeds	$ 969,095	$ 9,200,000
Class of warrant exercise price		$ 11.50

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Mar. 17, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021
Stock issued during period shares issued for services			$ 25,000
Repayment of related party debt				$ 140,368
Office Space Secretarial and Administrative Support Services [Member]
Administrative support expenses paid		$ 120,000
Sponser [Member] \| Issuance of Promissory Note [Member]
Debt instrument face value		$ 300,000		$ 300,000
Debt instrument maturity date				Jun. 30, 2021
Repayment of related party debt				$ 140,368
Sponser [Member] \| Office Space Secretarial and Administrative Support Services [Member]
Related Party Transaction, amounts of transaction				40,000
Administrative support expenses paid				160,000
Sponser [Member] \| After Completion Of Business Combination [Member] \| Working Capital Loans [Member]
Debt instrument converted				$ 1,500,000
Debt instrument conversion price		$ 1		$ 1
Borrowings		$ 0		$ 0
Sponser [Member] \| After IPO [Member]
Sale of Stock, Percentage of ownership after transaction			20.00%
Sponser [Member] \| Private Placement [Member]
Forfeiture of founder shares	138,631
Sponser [Member] \| Common Class B [Member]
Stock issued during period shares issued for services			$ 25,000
Stock issued during period value issued for services			10,350,000
Sponser [Member] \| Common Class B [Member] \| After Completion Of Business Combination [Member]
Lock in period of shares				1 year
Share price		$ 12		$ 12
Number of specific trading days for determining share price				20 days
Total number of trading days for determining the share price				30 days
Waiting time after which share price is considered				150 days
Sponser [Member] \| Forecast [Member]
Forfeiture of founder shares			1,350,000
Sponser [Member] \| Forecast [Member] \| Completion Of Business Combination or Earlier Upon Redemption or Liquidation [Member] \| Office Space Secretarial and Administrative Support Services [Member]
Related Party Transaction, amounts of transaction				$ 960,000
Administrative Support Agreement [Member]
Total payable related parties		$ 160,000		$ 160,000

Commitments - Additional Inform

Commitments - Additional Information (Detail) - USD ($)	Mar. 17, 2021	Mar. 11, 2021	Jun. 30, 2021
Other Commitments [Line Items]
Deferred underwriting fee payable per unit			$ 0.35
Deferred underwriting fee payable			$ 14,295,917
Over-Allotment Option [Member]
Other Commitments [Line Items]
Sale of units, Number of units issued	4,845,476
Private Placement [Member] \| Sponser [Member]
Other Commitments [Line Items]
Forfeiture of founder shares	138,631
Underwriters Commitment [Member] \| Over-Allotment Option [Member]
Other Commitments [Line Items]
Underwriters option days		45 days
Sale of units, Number of units issued		5,400,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail)	6 Months Ended
Shareholders' Equity - Additional Information (Detail)	Jun. 30, 2021$ / sharesshares
Preferred stock, par value \| $ / shares	$ 0.0001
Preferred stock, shares authorized	1,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Percentage of the shares issuable on the percentage of the total paid up share capital	20.00%
Common Class A [Member]
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	300,000,000
Common stock, shares issued	3,892,393
Common stock, shares outstanding	3,892,393
Ordinary shares subject to possible redemption shares	36,953,083
Common stock shares voting rights	one vote for each share
Common Class B [Member]
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	30,000,000
Common stock, shares issued	10,211,369
Common stock, shares outstanding	10,211,369
Common stock shares voting rights	one vote for each share
Conversion of Class B Common Stock into Class A Common Stock [Member]
Common stock shares conversion from one class to another class, conversion ratio	one-to-one

Warrants - Additional Informati

Warrants - Additional Information (Detail)	6 Months Ended
Warrants - Additional Information (Detail)	Jun. 30, 2021$ / shares
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Period after business combination within which securities must be registered	20 days
Period after business combination within which registration must be effective	60 days
After Completion Of Business Combination [Member] \| Public Warrants [Member]
Class of Warrant or Right [Line Items]
Exercisable of public warrants	30 days
After Completion Of Business Combination [Member] \| Private Warrants [Member]
Class of Warrant or Right [Line Items]
Private placement warrants period after which they are exercisable	30 days
After Completion Of Initial Public Offering [Member] \| Public Warrants [Member]
Class of Warrant or Right [Line Items]
Exercisable of public warrants	1 year
Completion Of Business Combination or Earlier Upon Redemption or Liquidation [Member] \| Public Warrants [Member]
Class of Warrant or Right [Line Items]
Expiry term of warrants	5 years
Prospective Warrant Redemption [Member] \| Public Warrants [Member] \| Common Class A [Member] \| Share Price Equals or Exceeds $18 [Member]
Class of Warrant or Right [Line Items]
Class of warrants or rights redemption price per unit of warrant	$ 0.01
Class of warrants redemption notice period	30 days
Share redemption trigger price	$ 18
Class of warrant or right redemption threshold trading days	20 days
Class of warrant or right redemption threshold consecutive trading days	30 days
Class of warrant or right, exercise price adjustment percentage higher of market value	180.00%
Prospective Warrant Redemption [Member] \| Public Warrants [Member] \| Common Class A [Member] \| Share Price Equals or Exceeds $10.00 [Member]
Class of Warrant or Right [Line Items]
Class of warrants or rights redemption price per unit of warrant	$ 0.10
Class of warrants redemption notice period	30 days
Share redemption trigger price	$ 10
Class of warrant or right redemption threshold trading days	20 days
Class of warrant or right redemption threshold consecutive trading days	30 days
Prospective Warrant Redemption [Member] \| Public Warrants [Member] \| Common Class A [Member] \| Share Price Less Than $9.20 [Member]
Class of Warrant or Right [Line Items]
Share redemption trigger price	$ 9.20
Class of warrant or right redemption threshold trading days	20 days
Gross proceeds of equity	60.00%
Class of warrant or right, exercise price adjustment percentage higher of market value	115.00%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended	6 Months Ended
Fair Value Measurements - Additional Information (Detail)	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
Interest income	$ 40,640	$ 49,123
Public Warrants [Member]
Fair value of Level 3 warrant liabilities		9,067,695
Private Placement [Member]
Fair value of Level 3 warrant liabilities		11,287,695
Trust Account [Member]
Cash held in Trust account	1,581	1,581
Interest income		0
US Treasury Securities [Member] \| Trust Account [Member]
Debt securities held to maturity held in trust account	$ 408,502,302	$ 408,502,302

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Recurring [Member]	Jun. 30, 2021USD ($)
U.S. Treasury Securities \| Fair Value Level 1 [Member]
Assets:
Amortized Cost	$ 408,502,302
Gross Holding Gain	(5,070)
Fair Value	408,497,232
Warrant Liability – Public Warrants \| Fair Value Level 1 [Member]
Liabilities:
Warrants and Rights Outstanding	9,067,695
Warrant Liability – Private Placement Warrants \| Fair Value, Inputs, Level 2 [Member]
Liabilities:
Warrants and Rights Outstanding	$ 11,287,695

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2021
U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity date	Sep. 9, 2021

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of Change in the Fair Value of Warrant Liabilities (Detail) - Warrant Liabilities [Member] - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2021	Jun. 30, 2021
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value as of Inception	$ 0	$ 14,120,406
Initial measurement on March 11, 2021	17,971,426
Change in valuation inputs or other assumptions	(3,851,020)	6,234,984
Transfer to Level 1		(9,067,695)
Transfer to Level 2		(11,287,695)
Fair value	14,120,406	0
Private Placement [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value as of Inception	0	7,830,203
Initial measurement on March 11, 2021	9,965,713
Change in valuation inputs or other assumptions	(2,135,510)	2,457,492
Transfer to Level 1		0
Transfer to Level 2		(11,287,695)
Fair value	7,830,203	0
Public [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value as of Inception	0	6,290,203
Initial measurement on March 11, 2021	8,005,713
Change in valuation inputs or other assumptions	(1,715,510)	2,777,492
Transfer to Level 1		(9,067,695)
Transfer to Level 2		0
Fair value	$ 6,290,203	$ 0