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

Condensed Consolidated Statements of Cash Flows

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 4 Months Ended 6 Months Ended 10 Months Ended
Jun. 30, 2020
Jun. 30, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:      
Net income (loss) $ (1,620,103) $ 28,947,974  
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Change in fair value of derivative warrant liabilities 1,066,689 (30,002,310)  
Interest earned on marketable securities held in Trust Account (72,356)  
Expenses allocated to operations from offering costs related to derivative warrant liability 551,352  
Changes in operating assets and liabilities:      
Prepaid expenses (28,116) 16,440  
Accounts payable and accrued expenses 31,358  
Net cash used in operating activities (30,178) (1,078,894)  
Cash Flows from Investing Activities:      
Investment of cash in Trust Account (350,000,000)  
Cash withdrawn from Trust Account to pay franchise and income taxes 172,092  
Net cash provided by (used in) investing activities (350,000,000) 172,092  
Cash Flows from Financing Activities:      
Proceeds from sale of Units, net of underwriting discounts paid 343,900,000  
Proceeds from sale of Private Placement Warrants 8,100,000  
Due from related party (30,000)  
Proceeds from promissory note – related party 32,378  
Repayment of promissory note – related party (186,165)  
Payments of offering costs (405,252)  
Net cash provided by (used in) financing activities 351,440,961 (30,000)  
Net Change in Cash 1,410,783 (936,802)  
Cash – Beginning of the period 950,537
Cash – End of the period 1,410,783 13,735 950,537
Non-Cash Financing Activities:      
Change in value of Class A common stock subject to possible redemption 28,947,970  
Initial classification of common stock subject to possible redemption 304,405,301  
Deferred offering costs paid directly by Sponsor in consideration for the issuance of Class B common stock 25,000  
Deferred offering costs paid through promissory note – related party 153,787  
Deferred underwriting fee payable 13,150,000  
As Restated      
Cash Flows from Operating Activities:      
Net income (loss)     (39,269,179)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Change in fair value of derivative warrant liabilities     25,725,000
Change in fair value of private placement warrant liability     12,584,590
Interest earned on marketable securities held in Trust Account     (219,337)
Expenses allocated to operations from offering costs related to derivative warrant liability     551,352
Changes in operating assets and liabilities:      
Prepaid expenses     (113,562)
Security deposit     (329)
Accounts payable and accrued expenses     239,532
Income taxes payable     11,509
Net cash used in operating activities     (490,424)
Cash Flows from Investing Activities:      
Investment of cash in Trust Account     (350,000,000)
Net cash provided by (used in) investing activities     (350,000,000)
Cash Flows from Financing Activities:      
Proceeds from sale of Units, net of underwriting discounts paid     343,900,000
Proceeds from sale of Private Placement Warrants     8,100,000
Proceeds from promissory note – related party     32,378
Repayment of promissory note – related party     (186,165)
Payment of offering costs     (405,252)
Net cash provided by (used in) financing activities     351,440,961
Net Change in Cash     950,537
Cash – Beginning of the period $ 950,537
Cash – End of the period     950,537
Non-Cash Financing Activities:      
Change in value of Class A common stock subject to possible redemption     (37,649,070)
Initial classification of common stock subject to possible redemption     304,405,300
Deferred underwriting fee payable     13,150,000
Offering costs paid directly by Sponsor in consideration for the issuance of Class B common stock     25,000
Offering costs paid through promissory note– related party     153,787
Initial value of derivative warrant liabilities in connection with initial public offering and private placement     $ 28,883,589