Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statement of Cash Flows

v3.21.2
Unaudited Condensed Statement of Cash Flows
 9 Months Ended
Sep. 30, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income $ 3,315,217
Adjustments to reconcile net income to net cash used in operating activities:  
Change in fair value of derivative warrant liabilities (6,148,010)
Change in fair value of promissory note – related party (152,050)
Loss on promissory note – related party 37,020
Financing costs - derivative warrant liabilities 1,406,506
Income from investments held in Trust Account (33,417)
Changes in operating assets and liabilities:  
Prepaid expenses (948,973)
Accounts payable 263,232
Accrued expenses 158,910
Franchise tax payable 146,838
Net cash used in operating activities (1,954,727)
Cash Flows from Investing Activities  
Cash deposited 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 911,564
Cash - beginning of the period 47,090
Cash - end of the period 958,654
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 in prior year $ 113,386