Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statements of Cash Flows

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Unaudited Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 2,122,606 $ 2,514,218
Adjustments to reconcile net income to net cash used in operating activities:    
Interest earned on marketable securities held in trust account (26,746) (3,041)
Offering costs allocated to warrants 457,600
Change in fair value of warrant liability (2,310,000) (3,005,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other noncurrent assets 10,639 (442,885)
Due to related party
Accrued expenses (166,362) 651
Net cash used in operating activities (369,863) (478,457)
Cash Flows from Investing Activities:    
Investment of cash in trust account (300,000,000)
Cash withdrawn from trust account to pay taxes
Net cash used in investing activities (300,000,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of founder shares
Proceeds from sale of units, net of underwriting discount 294,000,000
Proceeds from issuance of private placement warrants 8,000,000
Proceeds from (repayment of) promissory note – related party (9,284)
Payment of offering costs (135,856)
Net cash provided by financing activities 301,854,860
Net change in cash and cash equivalents (369,863) 1,376,403
Cash and cash equivalents, beginning of the period 1,151,239 3,523
Cash and cash equivalents, end of the period 781,376 1,379,926
Cash, end of the period 99,773 1,379,926
Investment in Mutual Funds, end of the period 681,603
Cash and cash equivalents, end of the period 781,376 1,379,926
Supplemental disclosure of cash flow information from financing activity:    
Initial classification of warrant liability 8,397,000
Deferred underwriters’ discount payable charged to additional paid-in capital $ 10,500,000