Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

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STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ (1,000) $ 6,815,225
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Offering costs attributable to warrant liabilities   645,069
Interest earned on marketable securities held in Trust Account   (19,104)
Non-cash change in fair value of convertible promissory note - related party   12,850
Change in operating assets and liabilities:    
Prepaid expenses   (405,042)
Accounts payable and accrued expenses 1,000 411,391
Net cash used in operating activities   (1,778,278)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account   (345,000,000)
Net cash used in investing activities   (345,000,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of Class B common stock to Sponsor 25,000  
Proceeds from sale of Class A common stock to public, net of underwriting discounts paid   338,100,000
Proceeds from sale of Private Placement Warrants   8,900,000
Payment of offering costs   (530,658)
Proceeds from convertible promissory note - related party   750,000
Proceeds from promissory note   107,197
Repayment of promissory note   (107,197)
Redemption of common stock 5,000  
Net cash provided by financing activities 20,000 347,219,342
Net Change in Cash 20,000 441,064
Cash - beginning   20,000
Cash - ending 20,000 461,064
Supplemental disclosure of non-cash financing activities    
Offering costs included in accrued offering costs $ 50,000  
Remeasurement adjustment for Class A common stock to redemption amount   30,112,589
Accretion for Class A common stock to redemption value   19,104
Deferred underwriting fee payable   12,075,000
Public Warrants    
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non-cash change in fair value of derivative liability   (5,382,000)
Private Placement Warrants    
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Fair value of private warrant liability in excess of proceeds   771,333
Non-cash change in fair value of derivative liability   $ (4,628,000)