Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement of Cash Flows

v3.22.1
Condensed Statement of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ 7,508,306 $ (3,774,715)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
General and administrative expenses paid by related party under promissory note   37,965
Loss upon issuance of private placement warrants 0 3,496,500
Offering costs associated with derivative warrant liabilities 0 848,440
Change in fair value of derivative warrant liabilities (7,832,090) (1,021,000)
Income from investments held in Trust Account (25,811) (1,796)
Changes in operating assets and liabilities:    
Prepaid expenses 25,445 (606,344)
Accounts payable 3,102 35,616
Accounts payable - related party   1,775
Accrued expenses (24,935) 304,420
Accrued expenses - related party 30,000 20,000
Net cash used in operating activities (315,983) (659,139)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account 0 (316,250,000)
Net cash used in investing activities 0 (316,250,000)
Cash Flows from Financing Activities:    
Proceeds received from Sponsor (Due to related party) 350,000  
Repayment of note payable to related party   (151,790)
Proceeds received from initial public offering, gross   316,250,000
Proceeds received from private placement   8,325,000
Offering costs paid   (6,325,000)
Net cash provided by financing activities 350,000 318,098,210
Net increase in cash 34,017 1,189,071
Cash - beginning of the period 81,567 0
Cash - end of the period $ 115,584 1,189,071
Supplemental disclosure of noncash financing activities:    
Offering costs included in accounts payable   353,000
Offering costs included in accrued expenses   141,832
Offering costs paid by related party under promissory note   113,825
Deferred underwriting commissions   $ 11,068,750