Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.22.1
Condensed Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 272,498 $ 836,874
Prepaid expenses 670,333 774,677
Total current assets 942,831 1,611,551
Investments held in Trust Account 862,620,168 862,549,773
Total Assets 863,562,999 864,161,324
Current liabilities:    
Accounts payable 24,350 8,047
Accrued expenses 4,079 162,917
Franchise tax payable 50,000 200,045
Total current liabilities 78,429 371,009
Derivative warrant liabilities 17,020,530 30,268,330
Deferred underwriting commissions 30,187,500 30,187,500
Promissory note – related party 1,351,360 1,392,950
Deferred legal fees 1,164,857 957,588
Total liabilities 49,802,676 63,177,377
Commitments and Contingencies
Class A common stock subject to possible redemption, $0.0001 par value; 86,250,000 shares issued and outstanding at $10.00 per share redemption value at March 31, 2022 and December 31, 2021 862,500,000 862,500,000
Stockholders’ Deficit:    
Preferred stock, $0.0001 par value; 3,000,000 shares authorized; none issued or outstanding at March 31, 2022 and December 31, 2021
Class A common stock, $0.0001 par value; 300,000,000 shares authorized; no non-redeemable shares issued or outstanding at March 31, 2022 and December 31, 2021
Class B common stock, $0.0001 par value; 30,000,000 shares authorized; 21,562,500 shares issued and outstanding at March 31, 2022 and December 31, 2021 2,156 2,156
Additional paid-in capital  
Accumulated deficit (48,741,833) (61,518,209)
Total stockholders’ deficit (48,739,677) (61,516,053)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit $ 863,562,999 $ 864,161,324