XML 21 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:        
Net income $ 5,588,537 $ 14,919,699 $ 18,686,195 $ 26,396,594
Adjustments to reconcile net income to net cash used in operating activities:        
Change in fair value of derivative warrant liabilities 912,643 (14,139,590) (13,625,420) (31,535,830)
Offering costs – derivative warrant liabilities     1,766,912
Income from cash and investments held in Trust Account (9,181,474) (3,463,746) (8,428,328) (31,742)
General and administrative expenses paid by related party under promissory note     15,590
Changes in operating assets and liabilities:        
Prepaid expenses (433,659) 1,187,408 1,578,758 (1,872,470)
Accounts payable 206,940 16,441 13,475 20,617
Accrued expenses 443,888 671,847 349,431 657,043
Net cash used in operating activities (2,463,125) (807,941) (1,425,889) (4,583,286)
Cash Flows from Investing Activities:        
Cash deposited in Trust Account (6,400,000) (575,000,000)
Cash withdrawn for redemptions 328,092,030    
Net cash provided by investing activities 321,692,030 (575,000,000)
Cash Flows from Financing Activities:        
Proceeds received from promissory note – related party 8,747,000    
Redemption of Public Shares (328,092,030)    
Repayment of note payable to related party     (196,322)
Proceeds received from initial public offering, gross     575,000,000
Proceeds received from private placement     17,000,000
Proceeds received from working capital loan – related party 420,000 1,074,000 400,000
Net cash (used in) provided by financing activities (319,345,030) 420,000 1,074,000 580,054,638
Offering costs paid     (12,149,040)
Net change in cash (116,125) (387,941) (351,889) 471,352
Cash – beginning of the period 119,463 471,352 471,352
Cash – end of the period $ 3,338 $ 83,411 119,463 471,352
Supplemental disclosure of noncash financing activities:        
Offering costs included in accrued expenses     11,978
Offering costs paid by related party under promissory note     180,730
Deferred underwriting commissions     $ 20,125,000