Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statement of Cash Flows

v3.22.1
Unaudited Condensed Statement of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ 12,776,376 $ (5,184,207)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Change in fair value of derivative warrant liabilities (13,247,800) 3,392,750
Financing costs - derivative warrant liabilities 1,406,506
Change in fair value of promissory note – related party (41,590)
Income from investments held in Trust Account (70,395) (7,058)
Changes in operating assets and liabilities:    
Prepaid expenses 104,344 (1,317,250)
Accounts payable 16,303
Accrued expenses (158,838) (82,566)
Deferred legal fees 207,269 149,066
Franchise tax payable (150,045) 47,660
Net cash used in operating activities (564,376) (1,595,099)
Cash Flows from Investing Activities    
Investment of cash in Trust Account (862,500,000)
Net cash used in investing activities (862,500,000)
Cash Flows from Financing Activities:    
Proceeds from note payable to related party 2,000
Repayment of note payable to related party (266,099)
Proceeds received from initial public offering, gross 862,500,000
Proceeds from private placement 19,250,000
Offering costs paid (17,369,609)
Net cash provided by financing activities 864,116,292
Net change in cash (564,376) 21,193
Cash - beginning of the period 836,874 47,090
Cash - end of the period 272,498 68,283
Supplemental disclosure of noncash financing activities:    
Offering costs included in accounts payable 250,000
Offering costs included in accrued expenses 372,369
Offering costs paid by related party under promissory note 94,099
Deferred underwriting commissions $ 30,187,500