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Condensed Statement of Cash Flows
3 Months Ended
Mar. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income $ 48,837
Adjustments to reconcile net income to net cash used in operating activities:  
Change in fair value of warrant liability (656,200)
Transaction costs allocated to warrant liabilities 242,333
Interest earned on marketable securities held in Trust Account (3,740)
Changes in operating assets and liabilities:  
Prepaid expenses and other current assets (344,648)
Accounts payable and accrued expenses 240,241
Net cash used in operating activities (473,177)
Cash Flows from Investing Activities:  
Investment into trust account (175,000,000)
Net cash used in investing activities (175,000,000)
Cash Flows from Financing Activities  
Proceeds from sale of Units, net of underwriting discounts paid 171,940,000
Proceeds from sale of Placement Units 5,450,000
Repayment of promissory note – related party (61,000)
Payment of offering costs (400,131)
Net cash provided by financing activities 176,928,869
Net Change in Cash 1,455,692
Cash – Beginning of period 12,031
Cash – End of period 1,467,723
Non-cash investing and financing activities:  
Deferred underwriting fee payable 6,565,000
Initial classification of common stock subject to possible redemption 161,045,270
Forfeiture of Founder Shares (2)
Change in value of common stock subject to possible redemption $ 290,860