XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 16,705,179 $ 17,837,132
Adjustments to reconcile net income to net cash used in operating activities:    
Income from investments held in Trust account (3,021,911) (84,920)
Financing cost - derivative warrant liabilities 0 1,410,520
Change in fair value of derivative warrant liabilities (16,450,000) (20,800,000)
Changes in operating assets and liabilities:    
Prepaid expenses 492,850 (1,012,703)
Accounts payable (48,196) 0
Accrued expenses 6,875 16,878
Franchise tax payable (145,287) 141,968
Income tax payable 602,315 0
Net cash used in operating activities (1,858,175) (2,491,125)
Cash Flows from Investing Activities    
Cash deposited in Trust Account 0 (550,000,000)
Cash used in investing activities 0 (550,000,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of Class B common stock to Initial Stockholders 0 25,000
Proceeds from note payable to related party 0 276,543
Repayment of note payable to related party 0 (276,543)
Proceeds received from initial public offering, gross 0 550,000,000
Proceeds received from private placement 0 18,000,000
Offering costs paid 0 (11,760,541)
Net cash provided by financing activities 0 556,264,459
Net change in cash (1,858,175) 3,773,334
Cash - beginning of the period 3,375,154 0
Cash - end of the period 1,516,979 3,773,334
Supplemental disclosure of noncash financing activities:    
Deferred underwriting commissions in connection with the initial public offering $ 0 $ 19,250,000