INITIAL PUBLIC OFFERING |
9 Months Ended |
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Dec. 31, 2021 | |
Initial Public Offering | |
INITIAL PUBLIC OFFERING |
NOTE 3. INITIAL PUBLIC OFFERING
On December 7, 2021, the Company consummated its Initial Public Offering of 11.50 per share, subject to adjustment. The SAILSM securities were sold at an offering price of $ per SAILSM securities, generating gross proceeds of $250,000,000. SAILSM securities. Each SAILSM security consists of one Class A share, $ par value per share (the “Class A Shares”), and one-half of one redeemable warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase one Class A Share at an exercise price of $
On December 9, 2021, the underwriters’ exercised their over-allotment option and purchased an additional 37,500,000. SAILSM securities at a price of $ per SAIL, generating additional gross proceeds of $
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