Item 8.01. Other Events.
As previously disclosed on a Current Report on Form 8-K dated January 24, 2022
(the "Current Report"), on January 20, 2022, the Company consummated the IPO of
10,000,000 units (the "Units"), at an offering price of $10.00 per Unit. Each
Unit consists of one Class A ordinary share, $0.0001 par value per share (the
"Class A Ordinary Shares"), and one warrant (the "Public Warrants"), each whole
Public Warrant entitling the holder thereof to purchase one Class A Ordinary
Share at an exercise price of $11.50 per share. The underwriters exercised their
over-allotment option in full for an additional 1,500,000 Units at the time of
the closing of the IPO. As a result, the aggregate gross proceeds of the IPO,
including the over-allotment, are $115,000,000, prior to deducting underwriting
discounts, commissions, and other IPO expenses.
As previously disclosed in the Current Report, simultaneously with the closing
of the IPO, the Company consummated the private placement (the "Private
Placement") with initial shareholders of the Company of 532,500 units (the
"Private Units"), at a purchase price of $10.00 per Private Unit, generating
total proceeds of $5,325,000.
As of January 20, 2022, a total of $116,725,000 of the net proceeds from the IPO
and the Private Placement were deposited in a trust account established for the
benefit of the Company's public shareholders.
An audited balance sheet as of January 20, 2022 reflecting receipt of the
proceeds upon consummation of the IPO and the Private Placement has been issued
by the Company and is included as Exhibit 99.1 to this Current Report on Form
8-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
99.1 Audited Balance Sheet, dated January 20, 2022.
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