XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ (2,016,618) $ 4,105,266
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Change in fair value of warrant liabilities 1,367,834 (5,806,585)
Transaction costs allocable to warrants 576,350  
Interest earned on marketable securities held in Trust Account (206) (25,413)
Changes in operating assets and liabilities:    
Prepaid expenses (402,871) 211,009
Accrued expenses 52,890 678,052
Net cash used in operating activities (422,621) (837,671)
Cash Flows from Investing Activities:    
Investment of cash into Trust Account (250,000,000)  
Cash withdrawn from Trust Account to pay franchise taxes   17,262
Net cash provided by (used in) investing activities (250,000,000) 17,262
Cash Flows from Financing Activities:    
Proceeds from issuance of Founder Shares 25,000  
Proceeds from sale of Units, net of underwriting discounts paid 245,640,000  
Proceeds from sale of Placement Units 5,750,000  
Proceeds from working capital loan - related party   500,000
Proceeds from promissory note – related party 71,278  
Repayment of promissory note—related party (71,278)  
Payment of offering costs (448,021)  
Net cash provided by financing activities 250,966,979 500,000
Net Change in Cash 544,358 (320,409)
Cash – Beginning of period   544,358
Cash – End of period 544,358 $ 223,949
Non-cash investing and financing activities:    
Initial classification of Class A common stock subject to possible redemption 250,000,000  
Deferred underwriting fee payable $ 10,640,000