Registration of securities issued in business combination transactions

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Cash Flows from Operating Activities:        
Net income (loss) $ 1,951,670 $ (1,000) $ (595,442)
Adjustments to reconcile net loss to net cash used in operating activities:        
Transaction costs allocated to warrant liabilities     155,037
Net gain on investments held in Trust Account (17,545) (5,428)
Change in fair value of warrant liabilities (2,413,500) (1,077,750)
Change in fair value of over-allotment option liability     225,000
Changes in operating assets and liabilities:        
Prepaid expenses 28,874 (73,865)
Accounts payable 24,710 153,601
Accrued expenses (20,500) 1,000 28,500
Accrued expenses – related party 30,000 53,333
Franchise tax payable (73,233) 97,200
Net cash used in operating activities (489,524) (1,039,814)
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 267,000 188,302
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     (466,281)
Proceeds from sale of Founder Shares     25,000 16,667
Net cash provided by financing activities 267,000 25,000 175,758,719
Net Change in Cash (222,524) 25,000 493,905
Cash – Beginning of period 518,905 25,000 25,000
Cash – End of period 296,381 25,000 $ 25,000 $ 518,905
Non-cash investing and financing activities:        
Deferred offering costs included in accrued offering costs $ 128,165