Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

Statements of Cash Flows - USD ($)
5 Months Ended 12 Months Ended
Dec. 30, 2020
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ (4,178,698) $ 11,028,290
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Net gain from investments held in Trust Account (7,668) (28,377)
Change in fair value of derivative warrant liabilities 3,471,670 (12,193,340)
Financing costs related to derivative warrant liabilities 577,150
Changes in operating assets and liabilities:    
Prepaid expenses (333,031) 184,371
Accounts payable 10,865 (9,536)
Accrued expenses 3,696 44,804
Franchise tax payable 80,598 54,376
Net cash used in operating activities (375,418) (919,412)
Cash Flows from Investing Activities:    
Cash deposited in Trust Account (230,000,000)
Transfer in from Trust Account 32,098
Net cash provided by (used in) investing activities (230,000,000) 32,098
Cash Flows from Financing Activities:    
Proceeds from issuance of Class B common stock to Sponsor 25,000
Proceeds from note payable to related party 163,000
Repayment of note payable to related party (163,000)
Proceeds received from initial public offering 230,000,000
Proceeds received from private placement 7,250,000
Offering costs paid (5,064,770)
Net cash provided by financing activities 232,210,230
Net (decrease) increase in cash 1,834,812 (887,314)
Cash - beginning of the period 1,834,812
Cash - end of the period 1,834,812 947,498
Supplemental disclosure of non-cash financing activities:    
Offering costs included in accrued expenses 78,500
Deferred underwriting commissions in connection with the initial public offering 8,050,000
Initial value of Class A common stock subject to possible redemption $ 230,000,000