Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement of Cash Flows (Unaudited)

v3.21.1
Condensed Statement of Cash Flows (Unaudited)
3 Months Ended
Mar. 31, 2021
USD ($)
Cash flows from operating activities:  
Net income $ 2,514,218
Adjustments to reconcile net income to net cash used in operating activities:  
Interest earned on marketable securities held in Trust Account (3,041)
Offering costs allocated to warrants 457,600
Change in fair value of warrant liability (3,005,000)
Changes in operating assets and liabilities:  
Prepaid assets (442,885)
Accrued expenses 651
Net cash used in operating activities (478,457)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (300,000,000)
Net cash used in investing activities (300,000,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of underwriting discount 294,000,000
Proceeds from issuance of Private Placement Warrants 8,000,000
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 1,376,403
Cash, beginning of period 3,523
Cash, end of the period 1,379,926
Supplemental disclosure of cash flow information:  
Initial value of Class A common stock subject to possible redemption 277,946,030
Change in Class A common stock subject to possible redemption 2,860,360
Initial classification of warrant liability 8,397,000
Deferred underwriters’ discount payable charged to additional paid-in capital $ 10,500,000