Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2021
 [2]
Cash Flows from Operating Activities:    
Net loss $ (1,000) $ (4,438,654) [1]
Adjustments to reconcile net loss to net cash used in operations:    
Warrant issuance costs 155,037
Net gain on investments held in Trust Account (1,747) [1]
Change in fair value of warrant liabilities 3,619,500 [1]
Change in fair value of over-allotment option liability 225,000
Changes in operating assets and liabilities:    
Prepaid expenses (583,799)
Accounts payable 74,593
Accrued expenses 1,000 102,370
Accrued expenses - related party 20,000
Franchise tax payable 24,034
Accrued offering costs 33,960
Net cash used in operating activities (769,706)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (174,225,000)
Net cash used in investing activities (174,225,000)
Cash Flows from Financing Activities:    
Proceeds from promissory note - related party 188,302
Repayment of promissory note - related party (188,302)
Payment to related party for cancellation of Founder Shares (16,667)
Proceeds from Initial Public Offering, net of underwriter’s discount paid 169,050,000
Proceeds from sale of private placement warrants 7,175,000
Payment of offering costs (466,282)
Proceeds from sale of Founder Shares 25,000 16,667
Net cash provided by financing activities 25,000 175,758,718
Net Change in Cash 25,000 764,012
Cash - Beginning of period 25,000
Cash - End of period $ 25,000 $ 789,012
[1] As restated due to the review of accounting for complex financial instruments and change in fair value of warrant liabilities (see Note 2).
[2] As restated due to the review of accounting for complex financial instruments and change in fair value of warrant liabilities (see Note 2).