XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 5,298,187 $ 7,301,955
Adjustments to reconcile net income to net cash used in operating activities:    
Interest earned on cash and Investments held in Trust Account (97,361) (10,645)
Offering costs allocated to warrants 0 862,470
Excess of Private Placement Warrants fair value over purchase price 0 1,242,401
Change in fair value of warrant liability (6,449,317) (9,488,914)
Changes in current assets and liabilities:    
Prepaid assets 28,782 (779,700)
Accrued costs and expenses 499,902 70,630
Due to related party 488,899 2,000
Net cash used in operating activities (230,908) (799,803)
Cash Flows from Investing Activities:    
Investment held in Trust Account   (287,500,000)
Net cash used in investing activities   (287,500,000)
Cash flows from financing activities:    
Proceeds from initial public offering, net of underwriters' discount 287,500,000 281,750,000
Proceeds from issuance of Private Placement Warrants 15,052,227 7,750,000
Proceeds of Promissory Note - Related Party   200,000
Payment of Promissory Note - Related Party   (200,000)
Payments of offering costs (15,610,840) (547,330)
Net cash provided by financing activities   288,952,670
Net change in cash (230,908) 652,867
Cash, beginning of the period 381,400 0
Cash, end of the period $ 150,492 652,867
Supplemental disclosure of cash flow information:    
Initial classification of warrant liability   22,802,227
Initial classification of Class A ordinary shares subject to possible redemption   287,500,000
Deferred underwriting commissions charged to additional paid in capital   10,062,500
Offering costs paid by Sponsor in exchange for the issuance of Class B ordinary shares   25,000
Deferred Offering Costs Included In Accrued Expenses   $ 251,751