Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENT OF CASH FLOWS

v3.21.2
CONDENSED STATEMENT OF CASH FLOWS
9 Months Ended
Sep. 30, 2021
USD ($)
Cash flows from operating activities:  
Net income $ 5,315,873
Adjustments to reconcile net income to net cash used in operating activities:  
Offering costs attributable to warrant liabilities 645,069
Interest earned on marketable securities held in Trust Account (12,561)
Non-cash change in fair value of convertible promissory note - related party 29,648
Change in operating assets and liabilities:  
Prepaid expenses (493,980)
Accrued expenses 312,123
Net cash used in operating activities (1,586,495)
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 convertible promissory note - related party 750,000
Proceeds from promissory note 107,197
Repayment of promissory note (107,197)
Net cash provided by financing activities 347,219,342
Increase in cash 632,847
Cash at beginning of period 20,000
Cash at end of period 652,847
Supplemental disclosure of non-cash financing activities  
Accretion for Class A common stock to redemption amount 30,103,030
Deferred underwriting fee payable 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 - public/private warrants (4,416,000)
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 - public/private warrants (3,738,000)
Cash flows from financing activities  
Proceeds from sale of Private Placement Warrants $ 8,900,000