Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENT OF CASH FLOWS (Unaudited)

v3.21.1
CONDENSED STATEMENT OF CASH FLOWS (Unaudited)
 2 Months Ended
Mar. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net loss $ (900,645)
Adjustments to reconcile net loss to net cash provided by operating activities:  
Change in fair value of derivative warrant liabilities (174,330)
Offering costs associated with derivative liabilities 997,440
Income from investments held in Trust Account (2,727)
General and administrative expenses paid by related party in exchange for issuance of Class B ordinary shares 25,000
Changes in operating assets and liabilities:  
Prepaid expenses (24,517)
Accounts payable 63,361
Accrued expenses 17,533
Net cash provided by operating activities 1,115
Cash Flows from Investing Activities:  
Cash deposited in Trust Account (345,000,000)
Net cash used in investing activities (345,000,000)
Cash Flows from Financing Activities:  
Repayment of promissory note to related party (89,890)
Proceeds received from initial public offering, gross 345,000,000
Proceeds received from private placement 8,900,000
Offering costs paid (6,901,115)
Net cash provided by financing activities 346,908,995
Net increase in cash 1,910,110
Cash - beginning of the period 0
Cash - end of the period 1,910,110
Supplemental disclosure of noncash financing activities:  
Offering costs included in accounts payable 74,285
Offering costs included in accrued expenses 768,000
Offering costs paid by related party under promissory note 89,890
Deferred underwriting commissions 12,075,000
Initial value of Class A ordinary shares subject to possible redemption 328,971,630
Change in value of Class A common shares subject to possible redemption (26,008,130)
Initial value of derivative warrant liabilities $ 26,150,000