Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement of Cash Flows

v3.22.1
Condensed Statement of Cash Flows
 3 Months Ended
Mar. 31, 2022
USD ($)
Cash Flows From Operating Activities:  
Net loss $ (1,107,325)
Adjustments to reconcile net income (loss) to net cash used in operating activities:  
Income from investments held in the Trust Account (21,456)
Profit interest compensation 105,119
Changes in operating assets and liabilities:  
Prepaid expenses (251,492)
Other current assets (767,017)
Other assets (431,357)
Accounts payable and accrued expenses 23,649
Other liabilities 1,506,000
Net Cash Used In Operating Activities (943,879)
Cash Flows From Investing Activities:  
Cash deposited into Trust Account (235,750,000)
Net Cash Used In Investing Activities (235,750,000)
Cash Flows From Financing Activities:  
Sale of Units in the Initial Public Offering, net of underwriting discount 225,400,000
Sale of Private Placement Warrants to the Sponsor 13,100,000
Repayment of the Sponsor promissory note (86,000)
Proceeds from related party advances 38,500
Repayment of related party advances (152,128)
Payment of offering costs, net of reimbursements (9,841)
Net Cash Provided By Financing Activities 238,290,531
Net change in cash 1,596,652
Cash at beginning of period 2,020
Cash at end of period 1,598,672
Supplemental disclosure of non-cash financing activities:  
Deferred underwriters' compensation charged to temporary equity in connection with the Public Offering 6,900,000
Class A Common Stock measurement adjustment 26,204,931
Operating costs paid by related party on behalf of the Company $ 12,302