Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CASH FLOWS

v3.23.1
STATEMENTS OF CASH FLOWS - USD ($)
 11 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 5,875,399 $ 4,822,634
Adjustments to reconcile net income to net cash used in operating activities:    
Expensed offering costs 2,429,624
Share-based compensation 461,945 2,634,528
Change in fair value of warrant liabilities (9,118,176) (6,458,708)
Gain on investments held in Trust Account (2,689,177)
Gain on waiver of deferred underwriting fees (342,975)
Changes in operating assets and liabilities:    
Prepaid insurance and other current assets (771,433) 426,267
Accounts payable 5,554 75,522
Accrued expenses 153,803 27,830
Accrued contingent legal costs 776,886
Due to Sponsor (28,389)
Net cash used in operating activities (963,284) (755,582)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account (201,951,985)
Net cash used in investing activities (201,951,985)
Cash Flows from Financing Activities:    
Advances from Sponsor 66,017
Proceeds from issuance of Class B ordinary shares to Sponsor 25,000
Proceeds from issuance of Promissory note to Sponsor 300,000
Repayment of promissory note (300,000)
Proceeds from initial public offering and exercise of over-allotment option, net of underwriter’s discount paid 195,953,412
Proceeds from sale of private placement warrants 8,998,574
Payment of deferred offering costs (761,181)
Net cash used in financing activities 204,281,822
Net change in cash 1,366,553 (755,582)
Cash - beginning of period 1,366,553
Cash - end of period 1,366,553 610,971
Non-cash investing and financing activities    
Waiver of deferred underwriting fee payable (see Note 6) 6,655,361
Remeasurement of Class A ordinary shares subject to redemption to redemption value 41,373,452 2,589,178
Excess fair value of Founder Shares attributable to Anchor Investors 18,958,165
Deferred underwriting fee payable 6,998,336
Forfeiture of Class B Founder Shares 3
Deferred offering costs included in accrued offering costs $ 1,289,149