Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.21.2
Condensed Consolidated Statement of Cash Flows
 6 Months Ended
Jun. 30, 2021
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (5,704,921)
Adjustments to reconcile net loss to net cash used in operating activities:  
Change in fair value of warrant liabilities 4,593,625
Transaction costs associated with initial public offering 234,419
Interest earned on marketable securities held in Trust Account (10,434)
Changes in operating assets and liabilities:  
Prepaid expenses (235,117)
Accrued expenses 168,646
Net cash used in operating activities (953,782)
Cash Flows from Investing Activities:  
Investment of cash in Trust Account (316,250,000)
Net cash used in investing activities (316,250,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units 316,250,000
Proceeds from sale of Private Placement Unit 8,325,000
Repayment of promissory note – related party (275,000)
Payment of offering costs, including underwriting discount (6,692,029)
Net cash provided by financing activities 317,607,971
Net Change in Cash 404,189
Cash – Beginning of period 179,512
Cash – End of period 583,701
Non-Cash investing and financing activities:  
Offering costs included in accrued offering costs 15,450
Initial classification of Class A common stock subject to possible redemption 301,630,950
Change in value of Class A common stock subject to possible redemption $ (5,470,500)