XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONDENSED STATEMENT OF CASH FLOWS
6 Months Ended
Jun. 30, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income $ 2,294,016
Adjustments to reconcile net income to net cash used in operating activities:  
Interest earned on investments held in Trust Account (37,035)
Unrealized gain on change in fair value of warrants (3,511,333)
Offering costs 655,046
Changes in operating assets and liabilities  
Prepaid assets (589,484)
Franchise tax payable 100,000
Accounts payable and accrued expenses 81,950
Net cash used in operating activities (1,006,840)
Cash flows from investing activities:  
Principal invested into Trust account (276,000,000)
Net cash used in investing activities (276,000,000)
Cash flows from financing activities:  
Due to related party 3,495
Proceeds from sale of Units, net of underwriter fee 270,480,000
Offering costs (369,212)
Proceeds from issuance of Private Placement Warrants 7,920,000
Borrowing from promissory note 35,192
Repayment of promissory note (73,780)
Net cash provided by financing activities 277,995,695
Net Change in Cash 988,855
Cash, beginning of the period
Cash, end of period 988,855
Supplemental Disclosure of Non-cash Financing Activities:  
Initial classification of Class A common stock subject to possible redemption 276,000,000
Deferred underwriters' discount payable charged to additional paid in capital 9,660,000
Conversion of Working Capital Loans to Private Placement Warrants $ 100,000