Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statement of Cash Flows

v3.21.2
Unaudited Condensed Statement of Cash Flows
3 Months Ended
Mar. 31, 2021
USD ($)
Cash flows from Operating Activities:  
Net loss $ (49,954)
Adjustments to reconcile net loss to net cash used in operating activities:  
Interest earned on cash and marketable securities held in Trust Account (40,259)
Changes in current assets and current liabilities:  
Prepaid expenses (498,904)
Accrued offering costs and expenses 168,983
Due to related party 213
Net cash used in operating activities (419,921)
Cash Flows from Investing Activities:  
Investment held in Trust Account (276,000,000)
Net cash used in investing activities (276,000,000)
Cash flows from Financing Activities:  
Proceeds from Initial Public Offering, net of underwriters’ fees 270,480,000
Proceeds from private placement 7,270,000
Payments of offering costs (636,086)
Net cash provided by financing activities 277,113,914
Net change in cash 693,993
Cash, beginning of the period 35,614
Cash, end of the period 729,607
Supplemental disclosure of noncash investing and financing activities:  
Deferred underwriting commissions charged to additional paid in capital 9,660,000
Initial value of common stock subject to possible redemption 227,738,380
Change in value of common stock subject to possible redemption 34,690,050
Deferred offering costs paid by Sponsor loan $ 18,773