Annual report pursuant to Section 13 and 15(d)

STATEMENT OF CASH FLOWS

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STATEMENT OF CASH FLOWS
 11 Months Ended
Dec. 31, 2021
USD ($)
Cash Flows from Operating Activities:  
Net income $ 5,875,399
Adjustments to reconcile net income to net cash used in operating activities:  
Expensed offering costs 2,429,624
Share-based compensation 461,945
Change in fair value of warrant liabilities (9,118,176)
Changes in operating assets and liabilities:  
Prepaid insurance and other prepaid expenses (771,433)
Accounts payable 5,554
Accrued expenses 153,803
Net cash used in operating activities (963,284)
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:  
Proceeds from short-term loan from the Sponsor 66,017
Proceeds from issuance of Class B ordinary shares to Sponsor 25,000
Proceeds from issuance of promissory note to related party 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
Offering costs paid (761,181)
Net cash provided by financing activities 204,281,822
Net change in cash 1,366,553
Cash - beginning of period 0
Cash - end of period 1,366,553
Supplemental disclosure of noncash investing and financing activities:  
Re-measurement of Class A ordinary shares subject to possible redemption to redemption value 41,373,452
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
Accrued offering costs included in shares subject to possible redemption $ 1,289,149