Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.21.1
Condensed Statements of Cash Flows
 3 Months Ended
Mar. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income $ 4,818,956
Adjustments to reconcile net income to net cash used in operating activities:  
Change in fair value of warrant liability (5,301,167)
Transaction costs associated with initial public offering 234,419
Changes in operating assets and liabilities:  
Prepaid expenses and other current assets (162,206)
Accrued expenses 116,500
Net cash used in operating activities (293,498)
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, net of underwriting discounts paid 309,924,999
Proceeds from sale of Private Placement Unit 8,325,000
Payment of offering costs (325,652)
Net cash provided by financing activities 317,649,347
Net Change in Cash 1,105,849
Cash – Beginning of period 179,512
Cash – End of period 1,285,361
Non-Cash investing and financing activities:  
Offering costs included in accrued offering costs 56,826
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 $ 5,053,370