XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income (loss) $ 1,174,482 $ (3,943,374)  
Adjustments to reconcile net income to net cash used in operating activities:      
Transaction costs allocated to warrant liabilities 0 962,447  
Unrealized gain on investments held in Trust Account (64,273) (14,405)  
Excess of private placement warrants fair value over purchase price 0 3,507,000  
Change in fair value of convertible promissory note - related party 800 0  
Change in fair value of warrant liabilities (2,351,375) (619,543)  
Changes in operating assets and liabilities:      
Prepaid expenses 23,183 (577,651)  
Due from Sponsor 300 0  
Accounts payable 21,518 559  
Accrued expenses 834,120 8,657  
Accrued expenses - related party 137,084 0  
Franchise tax payable (110,874) 49,314  
Net cash used in operating activities (335,035) (626,996)  
Cash Flows from Investing Activities:      
Cash deposited into Trust Account 0 (317,500,000)  
Proceeds from Trust Account to pay taxes 63,747 0  
Net cash used in investing activities 63,747 (317,500,000)  
Cash Flows from Financing Activities:      
Proceeds from promissory note - related party 208,827 0  
Proceeds from initial public offering, net of underwriting discount paid 0 311,150,000  
Proceeds from Sponsor note 0 41,500  
Repayment of Sponsor note 0 (164,000)  
Proceeds from sale of private placement warrants 0 8,350,000  
Payment of offering costs 0 (329,614)  
Net cash provided by financing activities 208,827 319,047,886  
Increase (decrease) in cash (62,461) 920,890  
Cash at beginning of period 130,359 1,594 $ 1,594
Cash at end of period 67,898 922,484 130,359
Supplemental disclosure of noncash investing and financing activities:      
Deferred underwriting fee payable 11,112,500 11,112,500 $ 11,112,500
Initial classification of warrant liabilities   28,605,125  
Remeasurement of Class A common stock subject to possible redemption to redemption value   33,767,846  
Reclassification of deferred offering costs to equity upon completion of the initial public offering   $ 145,906  
Proceeds received in excess of initial fair value of convertible promissory note – related party $ 136,827