General form of registration statement for all companies including face-amount certificate companies

CONDENSED STATEMENT OF CASH FLOWS

v3.21.2
CONDENSED STATEMENT OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Net Cash Provided by (Used in) Operating Activities [Abstract]    
Net loss $ (51,352,965) $ (2,493,666)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Change in fair value of warrants 50,845,000 1,590,000
Interest earned on marketable securities held in Trust Account (61,910) (5,877)
Transaction costs attributable to Warrants   701,379
Unrealized gain on marketable securities held in Trust Account (9,455) 38,849
Changes in operating assets and liabilities:    
Prepaid expenses (13,909) (166,079)
Accrued expenses 102,954 84,754
Net cash used in operating activities (490,285) (250,640)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account to pay taxes 22,292  
Investment of cash in Trust Account   (230,000,000)
Net cash used in investing activities 22,292 (230,000,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of common stock to Sponsor   25,000
Proceeds from sale of Units, net of underwriting discounts paid   225,400,000
Proceeds from sale of Private Placement Warrants   6,000,000
Advances from related party   125,000
Repayment of advances from related party   (125,000)
Proceeds from promissory note – related party   50,000
Repayment of promissory note – related party   (50,000)
Payment of offering costs   (401,274)
Net cash provided by (used in) financing activities 0 231,023,726
Net Change in Cash (467,993) 773,086
Cash – Beginning of period 773,086 0
Cash – End of period $ 305,093 773,086
Non-Cash investing and financing activities:    
Initial classification of common stock subject to possible redemption   199,782,620
Change in value of common stock subject to possible redemption   (1,791,190)
Deferred underwriting fee payable   $ 8,050,000