Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 6,669,495 $ 774,361
Adjustments to reconcile net income to net cash used in operating activities:    
General and administrative expenses paid by related party under promissory note 0 5,704
Change in fair value of derivative liabilities (6,382,920) (2,647,800)
Change in fair value of derivative assets (677,180) 0
Offering costs associated with derivative warrant liabilities 0 462,850
Loss on Forward Purchase Agreement 0 1,448,910
Gain on conversion of working capital loan 0 (243,440)
Interest income from investments held in Trust Account (30,881) (20,169)
Changes in operating assets and liabilities:    
Prepaid expenses 139,685 (1,581,709)
Accounts payable (52,243) 17,473
Due to related party 324,821 0
Accrued expenses (13,247) 4,566
Net cash used in operating activities (22,470) (1,779,254)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account 0 (345,000,000)
Net cash used in investing activities 0 (345,000,000)
Cash Flows from Financing Activities:    
Proceeds received note payable from related party 0 1,500,000
Repayment of note payable to related party 0 (173,255)
Proceeds received from initial public offering 0 345,000,000
Proceeds received from private placement 0 9,150,000
Offering costs paid 0 (7,292,413)
Net cash provided by financing activities 0 348,184,332
Net change in cash (22,470) 1,405,078
Cash - beginning of the period 26,468 0
Cash - end of the period 3,998 1,405,078
Supplemental disclosure of non-cash financing activities:    
Offering costs included in accounts payable 0 1,915
Offering costs included in accrued expenses 0 81,405
Offering costs paid by related party under promissory note 0 125,245
Accounts payable paid by related party under promissory note 0 42,306
Deferred underwriting commissions 0 12,075,000
Conversion of working capital loan to deferred warrant liabilities at fair value $ 0 $ 1,256,560