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 6 Months Ended 12 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Cash Flows from Operating Activities:            
Net income       $ 8,497,565 $ 139,435  
Adjustments to reconcile net income to net cash used in operating activities:            
Interest earned on marketable securities held in Trust Account $ (490,021)   $ (5,243) (518,179) (7,260)  
Non-cash change in fair value of convertible promissory note - related party (12,194)     (38,375)    
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       125,375 (590,559)  
Accrued expenses       (243,656) 124,969  
Income taxes payable       48,266    
Net cash used in operating activities       (676,004) (802,013)  
Cash Flows from Investing Activities:            
Investment of cash into 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)  
Proceeds from convertible promissory note - related party       600,000    
Net cash provided by financing activities       600,000 346,469,342  
Net Change in Cash       (76,004) 667,329  
Cash - Beginning   $ 461,064   461,064 20,000 $ 20,000
Cash - Ending 385,060   687,329 385,060 687,329 $ 461,064
Supplemental disclosure of non-cash financing activities            
Change in value of Class A common stock subject to possible redemption 490,021 $ 28,158   518,179 7,260  
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 (1,973,400)   (138,000) (4,595,400) (1,173,000)  
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 $ (1,696,934)   $ 178,000 $ (3,951,600) (712,000)  
Cash Flows from Financing Activities:            
Proceeds from sale of Private Placement Warrants         $ 8,900,000