XML 22 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 11 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Cash Flows from Operating Activities:        
Net (loss) income $ (2,412,015) $ 17,572,379 $ (10,189,181) $ 4,227,727
Adjustments to reconcile net (loss) income to net cash used in operating activities:        
General and administrative expenses paid by Sponsor in exchange for issuance of Class A and Class B ordinary shares     26,000
General and administrative expenses paid by related party under promissory note     9,360
Change in fair value of derivative warrant liabilities 4,445,810 (17,895,087) 6,742,750 (5,245,310)
Interest earned on securities held in Trust Account (3,710,256) (30,475) (18,341) (4,898,432)
Loss upon issuance of private placement warrants     2,175,000
Offering costs associated with warrants     592,641
Changes in operating assets and liabilities:        
Due from related party     (7,960)
Prepaid expenses 67,689 60,428 (746,720) 474,174
Accounts payable (5,909) (53,228) 58,405 (26,625)
Accrued expenses 831,521 141,775 25,918 4,610,934
Net cash used in operating activities (783,160) (204,208) (1,332,128) (857,532)
Cash Flows from Investing Activities:        
Cash deposited in Trust Account     (345,026,000)
Net cash used in investing activities     (345,026,000)
Cash Flows from Financing Activities:        
Proceeds received from initial public offering, gross     345,000,000
Proceeds received from private placement     10,900,000
Repayment of note payable to related parties     (166,587)
Offering costs paid (85,000) (6,804,876) (85,000)
Net cash used in financing activities (85,000) 348,928,537 (85,000)
Net change in cash (783,160) (289,208) 2,570,409 (942,532)
Cash – beginning of the period 1,627,877 2,570,409 2,570,409
Cash – end of the period $ 844,717 $ 2,281,201 2,570,409 1,627,877
Supplemental disclosure of noncash financing activities:        
Offering costs included in accrued expenses     350,000
Offering costs paid by related party under promissory note     157,227
Deferred underwriting commissions     $ 11,721,500