| | Per Unit | | | Total | |
Public offering price | | | $10.00 | | | $250,000,000 |
Underwriting discounts and commissions(1) | | | $0.70 | | | $17,500,000 |
Proceeds, before expenses, to us | | | $9.30 | | | $232,500,000 |
(1) | The underwriter has agreed to defer until consummation of our initial business combination $12.5 million of their underwriting commissions (or approximately $15.13 million if the underwriter’s overallotment option is exercised in full), which equals 5.0% of the gross proceeds from the units sold to the public, excluding any units purchased pursuant to the underwriter’s overallotment option, and 7.0% of the gross proceeds from the units sold to the public pursuant to the underwriter's overallotment option. This amount will be placed in the trust account and will be released to Cantor Fitzgerald & Co. for its own account only on completion of an initial business combination, as described in this prospectus. See the section titled “Underwriting” for a description of the compensation payable to the underwriter. |