Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income $ 4,654,723 $ 432,609  
Adjustments to reconcile net income to net cash used in operating activities:      
Interest earned on marketable securities held in Trust Account (28,158) (2,017)  
Non-cash change in fair value of convertible promissory note - related party (26,181)    
Compensation expense on Private Placement warrants   771,333  
Transaction costs incurred in connection with IPO   645,069  
Changes in operating assets and liabilities:      
Prepaid expenses 15,187 (685,587)  
Accrued expenses (117,454) 43,643  
Net cash used in operating activities (378,549) (719,950)  
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 sale of Class A common stock to public, net of underwriting discounts paid   338,100,000  
Payment of offering costs   (530,658)  
Proceeds from promissory note   107,197  
Repayment of promissory note   (107,197)  
Net cash provided by financing activities   346,469,342  
Net Change in Cash (378,549) 749,392  
Cash - Beginning 461,064 20,000 $ 20,000
Cash - Ending 82,515 769,392 $ 461,064
Supplemental disclosure of non-cash financing activities      
Change in value of Class A common stock subject to possible redemption 28,158    
Deferred underwriting discount   12,075,000  
Public Warrants      
Adjustments to reconcile net income to net cash used in operating activities:      
Non-cash change in fair value of derivative liability (2,622,000) (1,035,000)  
Private Placement Warrants      
Adjustments to reconcile net income 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 $ (2,254,666) (890,000)  
Cash Flows from Financing Activities:      
Proceeds from sale of Private Placement Warrants   $ 8,900,000