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v3.21.1

Statement of Cash Flows | 11 Months Ended
--- | ---
Dec. 31, 2020 USD ($)
Cash flows from operating activities: |
Net loss | $ (11,912,000)
Adjustments to reconcile net loss to net cash used in operating activities: |
Income earned on the Trust Account | (79,000)
Cost of warrant issuance included in financing below | (390,000)
Change in fair value of warrant liability | (10,571,000)
Changes in operating assets and liabilities: |
Increase in prepaid expenses and other assets | (184,000)
Increase in accounts payable and accrued liabilities | 677,000
Increase in accrued income and franchise taxes and rounding | 83,000
Net cash used in operating activities | (454,000)
Cash flows from investing activities: Cash deposited in Trust Account | (172,500,000)
Cash flows from financing activities: |
Proceeds from sale of stock to Sponsor and Anchor Investor | 30,000
Proceeds from Note payable to Sponsor | 47,000
Proceeds from sale of Public Offering Units | 172,500,000
Proceeds from sale of Private Placement Warrants | 5,700,000
Payment of underwriting discounts | (3,450,000)
Payment of offering costs | (498,000)
Payment of Note payable to Sponsor | (47,000)
Net cash provided by financing activities | 174,282,000
Net increase in cash | 1,328,000
Cash at beginning of period |
Cash at end of period | 1,328,000
Supplemental disclosure of non-cash financing activities: |
Deferred underwriting compensation | 6,038,000
Class A common stock subject to possible redemption – initial value | 152,368,000
Initial classification of warrant liability | 10,948,000
Change in value of Class A common stock subject to redemption | $ (11,594,000)

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