0001104659-21-110386 | 10-Q | XBRL Viewer

Document and Entity Information - shares	1 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	Aug. 27, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	001-40598
Entity Registrant Name	JATT Acquisition Corp
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	PO Box 309, Ugland House
Entity Address, City or Town	Grand Cayman
Entity Address State Or Province	KY
Entity Address, Postal Zip Code	E9 KY1-1104
City Area Code	+44
Local Phone Number	7706 732212
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	0001855644
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Transition Report	false
Units
Document Information [Line Items]
Title of 12(b) Security	Units
Trading Symbol	JATT U
Security Exchange Name	NYSE
Class A Ordinary Shares
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares
Trading Symbol	JATT
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		13,800,000
Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants
Trading Symbol	JATT WS
Security Exchange Name	NYSE
Class B Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,450,000

UNAUDITED CONDENSED BALANCE SHEET	Mar. 31, 2021 USD ($)
Current assets:
Cash	$ 24,975
Total current assets	24,975
Deferred offering costs	70,600
Total Assets	95,575
Current liabilities:
Accounts payable	48,689
Accrued expenses	4,925
Due to related party	50,000
Total Liabilities	103,614
Commitments and Contingencies (Note 5)
Shareholder's Deficit:
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Additional paid-in capital	24,569
Accumulated deficit	(33,039)
Total shareholder's Deficit	(8,039)
Total Liabilities and Shareholder's Deficit	95,575
Class A Ordinary Shares
Shareholder's Deficit:
Common stock	0
Class B Ordinary Shares
Shareholder's Deficit:
Common stock	431
Total shareholder's Deficit	$ 431

UNAUDITED CONDENSED BALANCE SHEET (Parenthetical) - $ / shares	Jul. 19, 2021	Jun. 14, 2021	Mar. 31, 2021	Mar. 23, 2021	Dec. 31, 2020
Preferred stock, par value, (per share)			$ 0.0001
Preferred stock, shares authorized			1,000,000
Preferred stock, shares issued			0
Preferred stock, shares outstanding			0
Maximum common stock shares subject to forfeiture	450,000
Class A Ordinary Shares
Common shares, par value, (per share)			$ 0.0001
Common shares, shares authorized			200,000,000		200,000,000
Common shares, shares issued			0
Common shares, shares outstanding			0		0
Class A Ordinary Shares Subject to Redemption
Common shares, shares outstanding			0
Class B Ordinary Shares
Common shares, par value, (per share)			$ 0.0001
Common shares, shares authorized			20,000,000
Common shares, shares issued			4,312,500	4,312,500
Common shares, shares outstanding		3,450,000	4,312,500
Maximum common stock shares subject to forfeiture		862,500	450,000
Class B Ordinary Shares \| Over-allotment option
Maximum common stock shares subject to forfeiture			862,500
Common stock subject to redemption
Maximum common stock shares subject to forfeiture	450,000

UNAUDITED CONDENSED STATEMENT OF OPERATIONS	1 Months Ended
UNAUDITED CONDENSED STATEMENT OF OPERATIONS	Mar. 31, 2021 USD ($) $ / shares shares
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
General and administrative expense	$ 33,039
Loss from operations	(33,039)
Net loss	$ (33,039)
Weighted average Class B ordinary shares outstanding, basic and diluted \| shares	3,450,000
Basic and diluted net loss per ordinary share \| $ / shares	$ (0.01)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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UNAUDITED CONDENSED STATEMENT OF CHANGES IN SHAREHOLDER'S DEFICIT - 1 months ended Mar. 31, 2021 - USD ($)	Class A Ordinary Shares	Class B Ordinary Shares	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at the beginning at Mar. 09, 2021	$ 0	$ 0	$ 0	$ 0	$ 0
Balance at the beginning (in shares) at Mar. 09, 2021	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class B common stock to Sponsors		$ 431	24,569	0	25,000
Issuance of Class B common stock to Sponsors (in shares)		4,312,500
Net loss			0	(33,039)	(33,039)
Balance at the end at Mar. 31, 2021		$ 431	$ 24,569	$ (33,039)	$ (8,039)
Balance at the end (in shares) at Mar. 31, 2021	0	4,312,500

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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UNAUDITED CONDENSED STATEMENT OF CASH FLOWS	1 Months Ended
UNAUDITED CONDENSED STATEMENT OF CASH FLOWS	Mar. 31, 2021 USD ($)
Cash Flows from Operating Activities:
Net loss	$ (33,039)
Adjustments to reconcile net loss to net cash used in operating activities:
General and administrative expenses paid by related party under promissory note	50,000
Changes in operating assets and liabilities:
Accounts payable	3,089
Accrued expenses	4,925
Net cash provided by operating activities	24,975
Cash Flows from Financing Activities:
Net change in cash	24,975
Cash - beginning of the period
Cash - end of the period	24,975
Supplemental disclosure of non-cash investing and financing activities:
Offering costs included in accounts payable	45,600
Offering costs paid by related party under promissory note	$ 25,000

DESCRIPTION OF ORGANIZATION AND, BUSINESS OPERATIONS

1 Months Ended

Mar. 31, 2021

DESCRIPTION OF ORGANIZATION AND, BUSINESS OPERATIONS

DESCRIPTION OF ORGANIZATION AND, BUSINESS OPERATIONS

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

JATT Acquisition Corp (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on March 10, 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 that the Company has not yet identified (“Business Combination”).

As of March 31, 2021, the Company had not yet commenced operations. All activity for the period from March 10, 2021 (inception) through March 31, 2021 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.

The Company’s sponsor is JATT Ventures, L.P., a Cayman Islands exempted limited partnership (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on July 13, 2021. On July 16, 2021, the Company consummated its Initial Public Offering of 12,000,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units being offered, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $120.0 million, and incurring offering costs of approximately $5.8 million (net of reimbursement from underwriter of $480,000), of which approximately $3.4 million and approximately $331,000 was for deferred underwriting commissions (see Note 6) and offering costs allocated to derivate warrant liabilities, respectively. On July 19, 2021, the underwriters fully exercised their option and purchased 1,800,000 additional Units, generating gross proceeds of $18.0 million (the “Over-Allotment”), and incurring offering costs of $990,000, of which $630,000 was for deferred underwriting commissions.

Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement (“Private Placement”) of 5,370,000 warrants (each, a “Private Placement Warrant” and collectively, the “Private Placement Warrants”), at a price of $1.00 per Private Placement Warrant to the Sponsor, generating proceeds of approximately $5.4 million (see Note 4). Concurrent with the consummation of the Over-Allotment on July 19, 2021, the Sponsor purchased 540,000 additional Private Placement Warrants, generating proceeds of $540,000 (the “Second Private Placement”).

Upon the closing of the Initial Public Offering and the Private Placement on July 16, 2021, and the Over-Allotment and Second Private Placement on July 16, 2021, approximately $139.4 million ($10.10 per Unit) of the net proceeds were placed in a trust account (“Trust Account”) with Continental Stock Transfer & Trust Company acting as trustee and invested in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under Investment Company Act of 1940, as amended, (the “Investment Company Act”), which invest only in direct U.S. government treasury obligations, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account as described below.

The Company’s management has broad discretion with respect to the specific application of the net proceeds of its Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. The Company’s initial Business Combination must be with one or more operating businesses or assets with a fair market value equal to at least 80% of the net assets held in the Trust Account (excluding any deferred underwriters fees and taxes payable on the income earned on the Trust Account) at the time the Company signs a definitive agreement in connection with the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.

The Company will provide its 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 a 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 for a pro rata portion of the amount then in the Trust Account (initially at $10.10 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax

obligations). The per-share amount to be distributed to Public Shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). These Public Shares will be recorded at a redemption value and classified as temporary equity in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and a majority of the shares voted are voted in favor of the Business Combination. If a shareholder vote is not required by law and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to the amended and restated memorandum and articles of association which were adopted by the Company upon the consummation of the Initial Public Offering (the “amended and restated memorandum and articles of association”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (the “SEC”), and file tender offer documents with the SEC prior to completing a Business Combination. If, however, a shareholder approval of the transactions is required by law, or the Company decides to obtain shareholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction. If the Company seeks shareholder approval in connection with a Business Combination, the holders of the Founder Shares prior to this Initial Public Offering (the “Initial Shareholders”) have agreed to vote their Founder Shares (as defined in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination. In addition, the Initial Shareholders agreed to waive their redemption rights with respect to their Founder Shares and Public Shares in connection with the completion of a Business Combination. In addition, the Company agreed not to enter into a definitive agreement regarding an initial Business Combination without the prior consent of the Sponsor.

Notwithstanding the foregoing, the Company’s amended and restated memorandum and articles of association will provide that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Class A ordinary shares sold in the Initial Public Offering, without the prior consent of the Company.

The Company’s Sponsor, officers and directors have agreed not to propose an amendment to the Company’s amended and restated memorandum and articles of association that would affect the substance or timing of the Company’s obligation to provide for the redemption of its Public Shares in connection with a Business Combination or to redeem 100% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the Public Shareholders with the opportunity to redeem their Class A ordinary shares in conjunction with any such amendment.

If the Company is unable to complete a Business Combination within 18 months from the closing of the Initial Public Offering, or January 16, 2023 (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 the Public Shares, 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 funds held in the Trust Account (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Shareholder’s rights as shareholders (including the right to receive further liquidating distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the board of directors, liquidate and dissolve, subject, in the case of clauses (ii) and (iii), to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.

In connection with the redemption of 100% of the Company’s outstanding Public Shares for a portion of the funds held in the Trust Account, each holder will receive a full pro rata portion of the amount then in the Trust Account, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay the Company’s taxes payable (less up to $100,000 of interest to pay dissolution expenses).

The Initial Shareholders agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the Initial Shareholders should acquire Public Shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the

Company fails to complete a Business Combination within the Combination Period. The underwriters 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 in the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Company’s Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be only $10.10 per share initially held in the Trust Account. In order to protect the amounts held in the Trust Account, the Sponsor agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.10 per Public Share and (ii) 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 $10.10 per share due to reductions in the value of the trust assets, less taxes payable; provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). 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 vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements 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 March 31 2021, the Company had approximately $25,000 in its operating bank account and working capital deficit of approximately $79,000.

The Company’s liquidity needs through March 31, 2021 were satisfied through the cash contribution of $25,000 from the Sponsor to purchase Founder Shares (as defined in Note 5), and the loan from the Sponsor of approximately $50,000 under the Note (as defined in Note 5). The Company repaid the Note in full on July 21, 2021. Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 5). As of March 31, 2021, there was no amounts outstanding for Working Capital Loans.

Based on the foregoing, management believes that the Company will have sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the Company will be using the funds held outside of the Trust Account for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1 Months Ended

Mar. 31, 2021

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying unaudited condensed financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the period from March 10, 2021 (inception) through March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021.

The accompanying unaudited condensed financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Form 8-K and the final prospectus filed by the Company with the SEC on July 16, 2021 and July 14, 2021, respectively.

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 auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s 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 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 periods.

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. 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. There were no cash equivalents at March 31, 2021.

Concentration of credit risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal Depository Insurance Corporation coverage limit of $250,000, and any investments held in Trust Account. At March 31, 2021, the Company had 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 which qualify as financial instruments under the FASB ASC Topic 820, “Fair Value Measurements,” equal or approximate the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Fair Value Measurements

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers consist of:

●	Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●	Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

●	Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Derivative financial instruments

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 ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. In accordance with ASC 825-10 “Financial Instruments”, offering costs attributable to the issuance of the derivative warrant liabilities will be allocated based on their relative fair value of total proceeds and are recognized in the statement of operations as incurred.

The warrants to be issued in connection with the Initial Public Offering (the “Public Warrants”) and the Private Placement Warrants will be recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company will recognize the warrant instruments as liabilities at fair value and adjust the instruments to fair value at each reporting period. The liabilities will be subject to re-measurement at each balance sheet date until exercised, and any change in fair value will be recognized in the Company’s statement of operations. Derivative warrant liabilities will be classified as non-current liabilities as their liquidation will not be reasonably expected to require the use of current assets or require the creation of current liabilities.

Deferred offering costs associated with Initial Public Offering

Deferred offering costs consists of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that were directly related to the Initial Public Offering. Offering costs are allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to the total proceeds received. Offering costs associated with derivative warrant liabilities are expensed as incurred, presented as non-operating expenses in the condensed statement of operations. Offering costs associated with the Class A ordinary shares issued are charged to shareholder’s equity upon the completion of the Initial Public Offering.

Net loss per ordinary share

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture by the Sponsor. Weighted average number of ordinary shares at March 31, 2021 were reduced for the effect of an aggregate of 862,500 ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). At March 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the our Company. As a result, diluted loss per ordinary share is the same as basic loss per ordinary share for the period presented.

Income taxes

The Company complies with the accounting and reporting requirements of FASB ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman federal income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company's financial statement. The Company's management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Recent accounting pronouncements

In August 2020, the FASB issued ASU No. 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): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Company adopted ASU 2020-06 on February 19, 2021 (inception) using the modified retrospective method for transition. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows.

Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

SHAREHOLDER'S DEFICIT

1 Months Ended

Mar. 31, 2021

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

NOTE 6. SHAREHOLDER’S DEFICIT

Preference Shares — The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share. As of March 31, 2021, there were no preference shares issued or outstanding.

Class A Ordinary Shares — The Company is authorized to issue 200,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of March 31, 2021, there were no Class A ordinary shares issued and outstanding.

Class B Ordinary Shares — The Company is authorized to issue 20,000,000 Class B ordinary shares with a par value of $0.0001 per share. On March 23, 2021, the Company issued 4,312,500 Class B ordinary shares to the Sponsor. As of March 31, 2021, there were 4,312,500 Class B ordinary shares issued and outstanding. On June 14, 2021, the Sponsor effected a surrender of 862,500 Class B ordinary shares to the Company for no consideration, resulting in a decrease in the total number of Class B ordinary shares outstanding from 4,312,500 to 3,450,000. The holders of the Founder Shares agreed to surrender and cancel up to an aggregate of 450,000 Class B ordinary shares for no consideration to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Initial Shareholders would collectively own 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. The underwriters fully exercised their over-allotment option on July 19, 2021; therefore, these 450,000 Founder Shares were no longer subject to forfeiture.

Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders. Holders of Class A ordinary shares and holders of Class B ordinary shares will vote together as a single class on all matters submitted to a vote of the shareholders except as required by law.

The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the initial Business Combination on a one-for-one basis, subject to adjustment for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection with the initial Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, 20% of the total number of ordinary shares outstanding after such conversion, including 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 the initial Business Combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller in the initial Business Combination, any private placement warrants issued to the Sponsor, officers or directors upon conversion of Working Capital Loans; provided that such conversion of Founder Shares will never occur on a less than one-for-one basis.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

DERIVATIVE WARRANT LIABILITIES

1 Months Ended

Mar. 31, 2021

DERIVATIVE WARRANT LIABILITIES

DERIVATIVE WARRANT LIABILITIES

NOTE 7. DERIVATIVE WARRANT LIABILITIES

Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the Units and only whole Public Warrants will trade. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the Proposed Public Offering; provided in each case that the Company has an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities laws of the state of residence of the holder (or the Company permit holders to exercise their warrants on a cashless basis under certain circumstances). The Company has agreed that as soon as practicable, but in no event later than 45 business days after the closing of the initial Business Combination, the Company will use commercially reasonable efforts to file with the SEC and have an effective registration statement covering the Class A ordinary shares issuable upon exercise of the warrants and to maintain a current prospectus relating to those Class A ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the

60^th day after the closing of the initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, and in the event the Company does not so elect, it will use commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

The warrants have an exercise price of $11.50 per share, subject to adjustments, and will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. 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 the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the initial shareholders or their affiliates, without taking into account any Founder Shares held by the initial shareholders 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 the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Class A ordinary shares during the 10 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then 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 prices described under “Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00” and “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” 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 described under “Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00” 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 Proposed Public Offering, except that the Private Placement Warrants and the Class A ordinary shares issuable upon exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be non-redeemable so long as they are held by the initial purchasers or such purchasers’ permitted transferees. If the Private Placement Warrants are held by someone other than the Initial Shareholders 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.

Redemption of warrants when the price per Class A ordinary share equals or exceeds $18.00: Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described herein with respect to the Private Placement Warrants):

●

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 last reported sale price (the “closing price”) of 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 on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

The Company will not redeem the warrants as described above unless a registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A ordinary shares is available throughout the 30-day redemption period.

In no event will the Company be required to net cash settle any warrant. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive

any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.

The Company will account for the 12,810,000 warrants to be issued in connection with the Initial Public Offering and over-allotment (including the 6,900,000 Public Warrants included in the Units and the 5,910,000 Private Placement Warrants,) in accordance with the guidance contained in ASC 815-40. Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant must be recorded as a liability due to the existence of provisions whereby adjustments to the exercise price of the warrants is based on a variable that is not an input to the fair value of a “fixed-for-fixed” option and the existence of the potential for net cash settlement for the warrant holders (but not all shareholders) in the event of a tender offer.

The accounting treatment of derivative financial instruments requires that the Company record a derivative liability upon the closing of the Proposed Public Offering. Accordingly, the Company will classify each warrant as a liability at its fair value and the warrants will be allocated a portion of the proceeds from the issuance of the Units equal to its fair value determined by the Monte Carlo simulation. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statement of operations. The Company will reassess the classification at each balance sheet date. If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

1 Months Ended

Mar. 31, 2021

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

Emerging growth company

Use of 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. There were no cash equivalents at March 31, 2021.

Concentration of credit risk

Fair value of financial instruments

Fair Value Measurements

●	Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●	Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

●	Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Derivative financial instruments

Deferred offering costs associated with Initial Public Offering

Net loss per ordinary share

Income taxes

Recent accounting pronouncements

DESCRIPTION OF ORGANIZATION AND, BUSINESS OPERATIONS (Details)				1 Months Ended
	Jul. 19, 2021 USD ($) shares	Jul. 16, 2021 USD ($) $ / shares shares	Mar. 10, 2021	Mar. 31, 2021 USD ($) $ / shares item shares	Oct. 31, 2020 $ / shares
Subsidiary, Sale of Stock [Line Items]
Condition for future business combination number of businesses minimum			1
Sale of Units, net of underwriting discounts (in shares) \| shares	360,000
Price of warrant \| $ / shares				$ 1.00
Transaction Costs		$ 5,800,000
Underwriting fees		480,000,000,000
Deferred underwriting fee payable		3,400,000
Other offering costs		$ 331,000,000,000
Cash Held Outside Trust Account				$ 25,000
Working Capital				79,000
Aggregate purchase price	$ 5,400,000			$ 25,000
Threshold minimum aggregate fair market value as a percentage of the assets held in the Trust Account				80
Threshold percentage of outstanding voting securities of the target to be acquired by post-transaction company to complete business combination				50
Minimum net tangible assets upon consummation of the Business Combination				$ 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%
Months to complete acquisition \| item				18
Redemption period upon closure				10 days
Maximum Allowed Dissolution Expenses				$ 100,000
Cash held outside the Trust Account				$ 24,975
Private Placement Warrants
Subsidiary, Sale of Stock [Line Items]
Sale of Private Placement Warrants (in shares) \| shares				5,370,000
Price of warrant \| $ / shares				$ 1.00
Proceeds from sale of Private Placement Warrants				$ 5,400,000
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts (in shares) \| shares		12,000,000		1,800,000
Purchase price, per unit \| $ / shares		$ 10.00		$ 10.10	$ 10.10
Proceeds received from initial public offering, gross		$ 120,000,000.0
Transaction Costs	990,000
Underwriting fees	$ 630,000	$ 480,000
Cash Held Outside Trust Account				$ 100,000
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Sale of Units, net of underwriting discounts (in shares) \| shares	1,800,000
Purchase price, per unit \| $ / shares		$ 10.10
Proceeds received from initial public offering, gross	$ 18,000,000.0
Sale of Private Placement Warrants (in shares) \| shares	540,000
Proceeds from sale of Private Placement Warrants	$ 540,000
Payments for investment of cash in Trust Account		$ 139,400,000
Sponsor
Subsidiary, Sale of Stock [Line Items]
Aggregate purchase price				25,000
Proceeds from Related Party Debt				$ 50,000

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)			1 Months Ended
	Jul. 19, 2021	Jul. 16, 2021	Mar. 31, 2021	Oct. 31, 2020
Cash equivalents			$ 0
FDIC insurance coverage amount			250,000
Unrecognized tax benefits			0
Unrecognized tax benefits accrued for interest and penalties			$ 0
Ordinary shares subject to forfeiture	450,000		862,500
Units Issued During Period, Shares, New Issues	360,000
Share Price			$ 0.35
Exercise price of warrants			$ 11.50
Percentage of gross proceeds on total equity proceeds			60.00%
Adjustment of exercise price of warrants based on market value (as a percent)			115.00%
Percentage of adjustment of redemption price of stock based on market value.			180.00%
Public Warrants expiration term			5 years
Price of warrant			$ 1.00
Warrants exercisable term from the closing of the public offering			12 months
Initial Public Offering
Units Issued During Period, Shares, New Issues		12,000,000	1,800,000
Proceeds received from initial public offering, gross		$ 120,000,000.0
Deferred underwriting fees	$ 630,000
Purchase price, per unit		$ 10.00	$ 10.10	$ 10.10
Over-allotment option
Units Issued During Period, Shares, New Issues	1,800,000
Proceeds received from initial public offering, gross	$ 18,000,000.0
Purchase price, per unit		10.10
Private Placement Warrants
Price of warrant			1.00
Public Warrants \| Initial Public Offering
Exercise price of warrants		$ 11.50
Number of warrants in a unit		1
Class A Ordinary Shares
Share Price			$ 9.20
Threshold trading days for redemption of public warrants			10 days
Price of warrant			$ 11.50
Class A Ordinary Shares \| Public Warrants \| Initial Public Offering
Number of shares issuable per warrant		1
Number of shares in a unit		1

RELATED PARTY TRANSACTIONS - Founder Shares (Details)				1 Months Ended
RELATED PARTY TRANSACTIONS - Founder Shares (Details)	Jul. 19, 2021 USD ($) shares	Jun. 14, 2021 shares	Mar. 22, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) D $ / shares shares
Related Party Transaction [Line Items]
Aggregate purchase price \| $	$ 5,400,000			$ 25,000
Ordinary shares subject to forfeiture	450,000			862,500
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			$ 0.006
Class B Ordinary Shares
Related Party Transaction [Line Items]
Number of shares issued				4,312,500
Aggregate purchase price \| $				$ 431
Class B Ordinary Shares \| Minimum [Member]
Related Party Transaction [Line Items]
Number of shares issued		4,312,500
Class B Ordinary Shares \| Maximum [Member]
Related Party Transaction [Line Items]
Number of shares issued		3,450,000
Sponsor
Related Party Transaction [Line Items]
Aggregate purchase price \| $				$ 25,000
Ordinary shares subject to forfeiture	540,000
Sponsor \| Class B Ordinary Shares
Related Party Transaction [Line Items]
Number of shares issued			4,312,500
Aggregate purchase price \| $			$ 25,000
Share dividend		862,500
Aggregate number of shares owned				450,000
Percentage of issued and outstanding shares after the Initial Public Offering collectively held by initial stockholders				20.00%
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				$ 12.00
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

SHAREHOLDER'S DEFICIT - Common Stock Shares (Details)	1 Months Ended
SHAREHOLDER'S DEFICIT - Common Stock Shares (Details)	Mar. 31, 2021 Vote $ / shares shares	Jul. 19, 2021 shares	Jun. 14, 2021 shares	Mar. 23, 2021 shares	Dec. 31, 2020 shares
Class of Stock [Line Items]
Common shares, number of votes per share \| Vote	1
Maximum common stock shares subject to forfeiture		450,000
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
Common shares, number of votes per share \| Vote	1
Common shares, shares issued (in shares)	0
Common shares, shares outstanding (in shares)	0				0
Class A Ordinary Shares Subject to Redemption
Class of Stock [Line Items]
Common shares, shares outstanding (in shares)	0
Class B Ordinary Shares
Class of Stock [Line Items]
Common shares, shares authorized (in shares)	20,000,000
Common shares, par value (in dollars per share) \| $ / shares	$ 0.0001
Common shares, shares issued (in shares)	4,312,500			4,312,500
Common shares, shares outstanding (in shares)	4,312,500		3,450,000
Maximum common stock shares subject to forfeiture	450,000		862,500
Ratio to be applied to the stock in the conversion	20
Common stock subject to redemption
Class of Stock [Line Items]
Maximum common stock shares subject to forfeiture		450,000
Maximum [Member] \| Class B Ordinary Shares
Class of Stock [Line Items]
Class A common stock subject to possible redemption, outstanding (in shares)			3,450,000
Temporary equity, shares outstanding			3,450,000
Minimum [Member] \| Class B Ordinary Shares
Class of Stock [Line Items]
Common shares, shares outstanding (in shares)			4,312,500

DERIVATIVE WARRANT LIABILITIES (Details)	1 Months Ended
DERIVATIVE WARRANT LIABILITIES (Details)	Mar. 31, 2021 $ / shares shares
Warrants exercisable term from the completion of business combination	30 days
Warrants exercisable term from the closing of the public offering	12 months
Threshold period for filling registration statement after business combination	15 days
Threshold period for filling registration statement within number of days of business combination	60 days
Warrants exercisable for cash \| shares	12,810,000
Exercise price of warrant	$ 11.50
Public Warrants expiration term	5 years
Share Price	$ 0.35
Percentage of gross proceeds on total equity proceeds	60.00%
Adjustment of exercise price of warrants based on market value (as a percent)	115.00%
Percentage of adjustment of redemption price of stock based on market value.	180.00%
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination	30 days
Redemption Of Warrant Price Per Share Equals Or Exceeds18.00 [Member]
Stock price trigger for redemption of public warrants	$ 18.00
Redemption price per public warrant (in dollars per share)	$ 0.01
Minimum threshold written notice period for redemption of public warrants	30 days
Threshold trading days for redemption of public warrants	20 days
Redemption Of Warrant Price Per Share Equals Or Exceeds10.00 [Member]
Stock price trigger for redemption of public warrants	$ 10.00
Class A Ordinary Shares
Threshold period for filling registration statement within number of days of business combination	30 days
Share Price	$ 9.20
Threshold trading days for redemption of public warrants	10 days
Public Warrants
Warrants exercisable for cash \| shares	6,900,000
Private Warrants
Warrants exercisable for cash \| shares	5,910,000

COMMITMENTS AND CONTINGENCIES (Details)			1 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Jul. 19, 2021 USD ($) shares	Jul. 16, 2021 shares	Mar. 31, 2021 USD ($) item $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares			$ 11.50
Aggregate underwriter cash discount			$ 3,400,000
Underwriter cash discount			$ 820,000
Share Price \| $ / shares			$ 0.35
Number of units sold \| shares	360,000
Exercise price of warrant \| $ / shares			$ 11.50
Maximum Number Of Demands For Registration Of Securities \| item			3
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Deferred Underwriting Fee Payable	$ 900,000
Number of units sold \| shares	1,800,000
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Deferred Underwriting Fee Payable			$ 480,000
Underwriting cash discount per unit \| $ / shares			$ 0.20
Aggregate underwriter cash discount			$ 2,400,000
Number of units sold \| shares		12,000,000	1,800,000

SHAREHOLDER'S DEFICIT - Preferred Stock Shares (Details)	Mar. 31, 2021 $ / shares shares
STOCKHOLDERS' EQUITY
Preferred shares, shares authorized	1,000,000
Preferred stock, par value, (per share) \| $ / shares	$ 0.0001
Preferred shares, shares issued	0
Preferred shares, shares outstanding	0

UNAUDITED CONDENSED STATEMENT OF OPERATIONS (Parenthetical) - shares	Jul. 19, 2021	Jun. 14, 2021	Mar. 31, 2021
Maximum common stock shares subject to forfeiture	450,000
Maximum common stock shares not subject to forfeiture	450,000
Class A Ordinary Shares Subject to Redemption
Common shares, shares outstanding			0
Class B Ordinary Shares
Maximum common stock shares subject to forfeiture		862,500	450,000
Common shares, shares outstanding		3,450,000	4,312,500
Class B Ordinary Shares \| Over-allotment option
Maximum common stock shares subject to forfeiture			862,500

INITIAL PUBLIC OFFERING (Details) - USD ($)			1 Months Ended
INITIAL PUBLIC OFFERING (Details) - USD ($)	Jul. 19, 2021	Jul. 16, 2021	Mar. 31, 2021	Oct. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Number of units sold	360,000
Underwriting fees		$ 480,000,000,000
Offering costs		$ 3,400,000
Exercise price of warrants			$ 11.50
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Number of units sold		12,000,000	1,800,000
Purchase price, per unit		$ 10.00	$ 10.10	$ 10.10
Proceeds received from initial public offering, gross		$ 120,000,000.0
Underwriting fees	$ 630,000	480,000
Offering costs	990,000	$ 5,800,000
Deferred underwriting commissions	$ 630,000
Initial Public Offering \| Public Warrants
Subsidiary, Sale of Stock [Line Items]
Number of warrants in a unit		1
Exercise price of warrants		$ 11.50
Initial Public Offering \| Public Warrants \| Class A Ordinary Shares
Subsidiary, Sale of Stock [Line Items]
Number of shares in a unit		1
Number of shares issuable per warrant		1
Initial Public Offering \| Derivate Warrant Liabilities
Subsidiary, Sale of Stock [Line Items]
Offering costs		$ 331,000
Deferred underwriting commissions		$ 3,400,000
Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Number of units sold	1,800,000
Purchase price, per unit		$ 10.10
Proceeds received from initial public offering, gross	$ 18,000,000.0

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($)		1 Months Ended
	Mar. 22, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Price of warrant		$ 1.00
Class A Ordinary Shares
Related Party Transaction [Line Items]
Price of warrant		$ 11.50
Promissory Note with Related Party
Related Party Transaction [Line Items]
Maximum borrowing capacity of related party promissory note		$ 5,370,000
Repayment of promissory note - related party		540,000
Administrative Support Agreement
Related Party Transaction [Line Items]
Expenses per month		10,000
Related Party Loans
Related Party Transaction [Line Items]
Maximum borrowing capacity of related party promissory note		50,000
Repayment of promissory note - related party	$ 200,000
Loan conversion agreement warrant		$ 1.00
Related Party Loans \| Working capital loans warrant
Related Party Transaction [Line Items]
Price of warrant		$ 1.5

SHAREHOLDER'S DEFICIT - Warrants (Details) - shares	Jul. 19, 2021	Mar. 31, 2021
Class of Warrant or Right [Line Items]
Ordinary shares subject to forfeiture	450,000	862,500
Public Warrants expiration term		5 years