Item 4.02 Non-Reliance on Previously Issued Financial Statements or Related Audit Report or Completed Interim Report.
On
In accordance with guidance on redeemable equity instruments, ASC 480-10-S99,
redemption provisions not solely within the control of the Company require
ordinary shares subject to redemption to be classified outside of permanent
equity. The Company had previously classified a portion of its Class A ordinary
shares in permanent equity. The Company has determined that it is appropriate to
restate its previously issued financial statements for the Relevant Periods to
present all redeemable Class A ordinary shares as temporary equity and to
recognize accretion from the initial book value to redemption value at the time
of its initial public offering (including exercise of the over-allotment
option). Considering such restatement, the previously issued financial
statements for the Relevant Periods should no longer be relied upon. The Company
will file its Quarterly Report on Form 10-Q for the quarterly period ended
The Company's management and the Audit Committee have discussed the matters
disclosed in this Current Report on Form 8-K pursuant to this Item 4.02 with
Cautionary Statement Forward-Looking Statements
This report may include "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, including relating
to the filing of the 10-Q, other than statements of historical fact included in
this report are forward-looking statements. When used in this report, words such
as "anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the Company or its management team, identify
forward-looking statements. Such forward-looking statements are based on the
beliefs of management, as well as assumptions made by, and information currently
available to, the Company's management. Actual results could differ materially
from those contemplated by the forward-looking statements as a result of certain
factors detailed in the Company's filings with the
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