XML 19 R8.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED STATEMENT OF CASH FLOWS
3 Months Ended
Mar. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (1,963,413)
Adjustments to reconcile net loss to net cash used in operating activities:  
Excess of fair value of Private Warrants 298,825
Change in fair value of warrant liabilities 659,945
Transaction costs 606,622
Changes in operating assets and liabilities  
Prepaid assets (438,691)
Due from Sponsor (1,061)
Taxes payable 50,000
Due to related party 25,752
Accounts payable and accrued expenses 209,662
Net cash used in operating activities (552,359)
Cash Flows from Investing Activities:  
Investments and marketable securities held in Trust (276,000,000)
Net cash used in investing activities (276,000,000)
Cash Flows from Financing Activities:  
Proceeds from sale of Units, net of offering costs 275,552,107
Proceeds from issuance of Private Warrants 7,520,000
Payment of underwriter discount (5,520,000)
Net cash provided by financing activities 277,552,107
Net Change in Cash 999,748
Cash, end of period 999,748
Supplemental Disclosure of Non-cash Operating and Financing Activities:  
Warrant liability 18,322,046
Class A ordinary shares subject to possible redemption 243,535,790
Deferred underwriters' discount payable charged to additional paid in capital $ 14,000,000