Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statement of Cash Flows

v3.22.2.2
Unaudited Condensed Statement of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ 22,528,850 $ (15,869,379)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Change in fair value of derivative warrant liabilities (22,701,250) 13,195,740
Financing costs - derivative warrant liabilities 1,406,506
Change in fair value of promissory note – related party (1,660) 145,180
Loss on promissory note – related party 37,020
Income from investments held in Trust Account (1,295,452) (20,166)
Changes in operating assets and liabilities:    
Prepaid expenses 304,070 (1,126,472)
Accounts payable 2,843 143,150
Accrued expenses (160,917) 152,130
Deferred legal fees 514,108
Income tax payable 219,373
Franchise tax payable (180,045) 96,975
Net cash used in operating activities (770,080) (1,839,316)
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 (17,619,610)
Proceeds from promissory note to related party 1,500,000
Net cash provided by financing activities 865,366,291
Net change in cash (770,080) 1,026,975
Cash - beginning of the period 836,874 47,090
Cash - end of the period 66,794 1,074,065
Supplemental disclosure of noncash financing activities:    
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
Reversal of offering costs included in accounts payable prior year $ 113,386